The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-01-20
Minnear & Co.'s Gossip


d Duluth continues TO absorb all ~,
e {. 4 NJ. offered. They are also biddine
- for c. d c. and are talking highe,
7 prices FOR both issues.
- superior & Pittsburg and c. & A.
are selling on an equal basis when
the ;. 4 p. dividend in considered
The home office Of the L. 5. & A.
has received a letter from the eastern
onIce of the Magma Copper company.
which reads as follows: MIR. Gum is
IN the city and has requested me to
write and inform YOU that he is in re-
ceipt OF report from Mr. Neary. su-
lermtendent of the Magma Conner
! company at Superior, showing that the
] queen vein has been reached i'm the
| eross-cut and a good body of conner
ore encountered. VIII try to give Won
some information from time To time If
the ore encountered continues to de-
Velop WELL BY way of explanation
II might be added that the Magma
smart on the silver Queen property was
down $50 feet when the cross-cut was
started. and il was i'm this lateral work |
'hat the ore body was encountered.
which is believed to be the same
'hat was opened up in the Holt shaft
or l.. ;. & \. property about 5000 feet
away. The management is confident
mat sulphide ores will be encountered
when depth of approximately Loo
feet will have been attained.
developments at the Ojibway are
proving of very satisfactory nature.
particularly at the 500 and 500 levels
Of No. l shaft, both north and south
No. ] shaft, which is the most nortber-
y or Ojibway's workings, is a scene =
d very active operations and drift !
ng is now under way on six levels
namely, 35O 800, 500. $50 and loo !
ne LOO foot lateral is the last start
~ me shaft has been sunk below the
900 level. and at this point a cross
Ut mas been started toward the lode.
" NO. shaft a depth of about 200 !,
eet mas been attained. At the Ofoot "
sVeL the drift has been connected with ~
10. shaft on this level. the rock ~
eng opened is said to approach very ~
loosely the richness disclosed in opera y
IONS at the Ahmeek. OHbway has :.
lhds sufficient to carry it well through -
ne present year, an assessment of 81 y
er snare having been paid last fan. y
Duluth-A director Of the Heating ~
avs that the damage suits which -
llsht be brought on account of rho Y
cath Of the six men killed by the ex- ~
osloh are fully covered by the En- =,
oyers' Liability Insurance. The last >,
We cars of ore show returns of over -
20 per ton. >.
Al the annual meeting of the Ray =.
sntral the following directors were y
ected: c. a. Heller. ]. III. Whitman. "
a. Hazel w. a. Harp. II. w. Dyer. w
D. Rice, p. Hervey j. Il. Cummings :"
10 NJ Schamberg. President Scham- '"
rs IN his remarks stated that the en-
heers were now proving up the prop
" winch comprises twenty-eight
AIMS, but owing TO their work not be-
z completed the true condition of Wv
e entire property cannot be given AT
is time. ~
Al
The Calumet & Corbin hopes to a.
Use at this time further development -
'rk through the entrance of a new -
.erest in the company. Gu ."
mere seems to be considerable talk :,
copper circles that the copper sur -
IS Is bigger than the figures have
emily led the trade to suppose. The -,
Vernments expert figures have l,'
used great deal of pessimistfc talk
ohio Copper is expected to complete :, -"
financing within sixty days. The y. w.
npany has recently earned as high W.
$4,000 per month and could do
zen better running to full capacity. no'
ne ~ assessment on Franklin is
the purpose OF furnishing up-to- -,
g equipment and to give the COM
ny cash capital. The company :, ~
reached a position where with
Kind Of copper market it could g..
very well. cue