The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-24
Brokers Gossip

BROKERS GOSSIP
The output Of Utah copper for the
month OF February was 7.S2s,32t
pounds Nevada Consolidated for the
month Of February was 4.ss25SS
pounds.
Telegraph advices from Supt. Warden
of United Verde Extension report that
the second upraise from the sOO-foot
level Is all In ore. Pres. l.. f. Whicher
with stephen r. DOW and party from
Boston are at the mine
Eight hundred idle ovens of the Unit
cd states steel Corporation in the Con-
nel!svlle coke regions We're fired
Thursday putting the steel corpora
TONS coke properties up TO So per cent
OF fun operation. The Carnegie Steel
co. has ordered two idle blast furnaces
I'm Shenago Valley put in blast and
Jones and Laughlin, Cambria and Re
public Iron & Steel companies reached
the first time since last November.
The opening OF January saw 10000
blast furnace and steel mill workers
idle in the Pittsburg district. Last
week the number who did not work
was not above six thousand.
The stock market is between hay and
grass Great financial interests how
ever continue TO control il absolutely.
They are laying the foundations, If in
deed such foundations have not al
ready been laid. for a broad bull move
ment a little later on. Nature is with
them. An ideal crop position. though
seed for such big harvests as corn and
oats and spring wheat is not yet in the
soil is insured by plenty OF water IN
the ground That has not been the
case AZ this date i'm two or three years.
But this vital fact is merely in keeping
with other fundamental conditions
furnishing a basis for confidence. such
as our balance of trade, the strength
of the country's banks, huge credits
abroad. and the gradual revival of
business at home.
Two shafts will be begun on the Live
oak property Immediately The pres
ent shaft will be sunk TO greater depth /
and a new shaft will be started on the I
western portion of the property. The \
rev one will be sunk at least 1000 1
feet The old shaft at present is about
three hundred feet deep. Several other
improvements in connection with the
shafts will be begun virtually at the
same time. Hole AZ, which encoun-
tered one at n depth of 1872 feet is still
in the chalcocite at 755 feet. Hole so,
I'm which ore was struck at 545 feet, is
still in the ore body at 76O feet. Hole
81 is still in the overburden at depth
OF 295 feet No. 50 on the southeast
ern portion Of the Live oak ground
struck ore at depth of GO feet and is
stilI in the ore body at $50 feet.
President w. d Thornton of the
Cananea has recently returned !
from a visit to the property and states
that operations are not being inter-
-upted OF disturbed by the instruction
In that country. He says: ''The {
Greene Cananea property was never In
stronger position as TO operating eff {
,iency and the quantity of ore in re-
serve. We are making the lowest {
.osts I'm our history and by April LIST. I
m our extraordinary construction will s
AVE been completed and we will be in
,osition 70 compete with the lowest I
ost operators in the country. 1t has q
zen a long pull to bring our property :
- 20 It's present position but the ]
from now on should be- !
in 10 benefit in increased earnings ]
rom the economies which have been !
Introduced in every department of the !
hines surface and underground oper-
tons" \
Recent underground developments at I
b.. .Lo rouuar cornuany's prODprty