The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-08-26
Cu E6ESTP OF , The Co &C, ! a3s!sss
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will undoubtedly experience difficulty selecting site
shaft because the very heavy overpurden which
has to be penetrated. In all the holes far bored mr.
teen in ALL the overburden varied from up al
though the drilling was undertaken the idea
of locating point where the ledge would be found with
little drilling
INDIANA
Indiana was another of the Dow which was sub
jected extreme liquidation during past week. touch
ing low point of s5h a share.
The company organized in August 1902 and I'm 1sto
sold as hgn $4f&. This sharp advance was due en-
trely to developments In No hole. the stock was
greediy bought by New England investors. who thought
that the would make a second Calumet A.
Hecla. While Indiana has proven to be either
success or failure the inflated price which after
the first discovery made unquestonably given
the property somewhat unsavory reputation.
Indiana is capitalized 100000 shares OF which so 600
have been issued and marked So paid According to
the last annual report Of the Company December 81
1870 there were cash and accounts receivable amounting
to S6O9l3 There are 10000 shares remaining
the treasury If the market satisfactory state
this stock would probably be disposed the Com
pany would not find it necessary consider question
of further financing. However with the commencement
of shaft sinking at the Indiana property the work
Gone far during the year. treasury must be
very exhausted by this time. that shareholders
be called provide additional in the near
future ,4n,
Developments at the Indiana property during the past
few months have been very important. shaft has
been started In the vicinity of the strike No
hole, and is reached some promising
results expected Indiana is property worthy of
much attention for the diamond drill there
were uniformly well charged with The veins dis
closed wide, and although they CORE
lated there is that operations could be
conducted there prohtably However 1t will
cradle length of time to determine the real values
property and in the meantime the great spec
uative possibilities. We regard Indiana attractive
purchase at IS. irrespective
ment possibilities
ALGoMAH-
There much liquidation in Algomah this week. bring
ing the price to low point of s2%. The decline
started by the movement against the socaled
and augmented by the reports that AIgomah
find 1t necessary to for further financing in
future
AgOmah outstanding 10000 shares marked $40 paid
In. 1t commenced operations with 100000 in
ing the six months. up December 81 1910
Period covered by the last report the company
pended $31445 and had cash and accounts receivable
emounng to $66,O75 During the period from December
81 1910, present date. expenditures
quite heavy for the has shaft depth
of 05 feet, and in addition has done extensive lateral
both north Drifting this
1900 feet II is proposed to discontinue the south
drift and continue only north from the first level to the
Lake boundary line. 1t is also proposed to sinking
Diamond drilling has also carried the Algomah
property and No 9 hole is being bored. No. hole
drilled 1900 gave that with depth
the called Agomah which high grade ore
would develop into lode carrying native copper rather
than copper ore.
The prospects for Algomah exceedingly bright,
around SO share, the stock looks extremely attractive.
Those who invest In this should
Outstanding that they may called upon contribute
tn the company's treasury
FRANKLIN go -- - ~'~l '"ra-
The decline In Franklin a surprising
Of the trading in the share list during
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