The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-10-14

General further advised shareholders
that recent Developments have shown portions mine
formerly regarded bearing practically barren
The has been doing considerable development
work in order to additional met
with much disbursement 1t purchased time ago
10000 shares Of the in the company and
hopes 10 be able add considerably from
this The earnings for the year ending August l.
1911 were approximately s1OOOOoO. balance at
the end Of that period together transit amounts
ed to s61S,OOO
There mas been question raised the likelihood
OF Kerr Lake continuing the payments 25c div
dends quarterly it's 100000 shares opn-
ION, however that the company will TO show earn
ngs to maintain these dividends without any trouble
that in the the year or two developments
will be of such much higher prices
for the stock.
CACTUS
Announcement will be forthcoming O a deal where-
by the of the Combination Heating be taken
over by the Cactus Mining stock
on share for share basis. With the
be left remaining the treasury 100000
and the company will have working capital
100000 In addition, Cactus has 10000 Sum-
mutt stock in its treasury.
The property s now being examined by engineers
for the Cactus company There three fun claims
fractions holdings shaft 40 feet
mas peeh SUNK d Boou showing was MADE me sur
face equipment is sufficient the com.
pany for time o come.
ARIZONA COMMERCIAL
The time for the deposit Of Arizona Commercial,
and bonds has been extended october 18th the
mittee working for the reorganization this
The committee has met with considerable success in its
efforts accomplish the reorganization
deposited close fifty Of both outstanding
bonds and stock These deposits with the
the lines originally announced; that is the bondhoders
would receive 100000 shares that the
holders would exchange their share with
deposit Of SO for each share exchanged. This would
provide the any .SsOOOO.
five share and SO for $1,000 bond
requested all bond shareholders
cial defray the reorganization costs.
The 36O0OO has fully UNDERWATER by and
New exchange houses. Charles s. Jmth.
president OF the old Dominion has the
management Arizona Commercial after its roorganiza
ton 1t is quite likely that the company viii discontinue
present developments hro Eureka shaft
instead will operate its Copper Hill property
INSPIRATION
There been good buying of Inspiration not
ed this week. and the stock advanced fractonay The
the of that which attended
announcement some ago when negotiations
pending for the consolidation Of Miami and Inspiration
report the resumption of such negotiations
yet been given circulation it likely that it will
again The two properties logically should be-
The advantages well difficulties which
confront the one will be encountered by other
Inspiration will advantage II going alone OF
the mistakes made by Miami. 1t going the
plan building its concentrating plant This may
the hope that consolidation ultimately come.
delays will avoid the duplication Of plants.
AS tonnage is concerned there is but little
the blocked in both properties
Inspiration without the Miami concentrating
plant. the opinion that 1t will be very
long before plans for consolidating properties
Inspiration win enjoy satisfactory
consideration this on all spots the stock
should be bought
MINING NOTES
Butte-Balakava will sinking a short
time.
Indanas shaft October s14 feet deep
sunk SIS September.
Quincy A. Shaw 1900 OF Calu-
met & HecIa and 2172 shares osceoa.
For the week ending october 5th. copper exports
amounted to 1868 tons the foreign demand showing
provement.
Iron Blossom has declared quarterly
cents a share, Of share the
previous declaration
Chino will the the producers this month
is expected early week the first ore win be
through the concentration
Goldfeld has been rather for time past
The selling for the certain
leve that the quarterly dividend will cut.
The Porcupne issues quite active inclined to
be higher this week. Preston East Dome Of the
scoring fifty per cent advance on favorable
mine developments.
In September. Greene Cananes produced 1900 tons
copper It's precious metal considerable
increase months being about for