The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-25
CURRENT x = - COPPERS
~ GOSSIP It NBy 4 4. o MINpEAE


rior Pittsburg stock deposited will be issued imme
diately after April list The production for February
Of the two companies the smallest in months and
in accordance with tho policy curtailment
Ing adopted throughout the Country
Developments at the mine said to very
isfactory. Superior Pittsburg is taking of
approximately 5000 gallons Of per minute. The
highest amount pumped averaged about $500 gallons OF
water minute This water is giving the company
absolutely trouble whatever. is being very eas-
y handled through the Junction shaft
PEARL LAKE
considerable developed in the
Porcupine camp largely due the which has
attended the developments and In
Hollnger shares This issue put the market at
$3.50 share about months ago. and yesterday
quoted to $3.50 share.
Pearl Lake Is another Porcupine issue which is
tracing considerable company is capital
ized for 100000 shares, OF par ST. which
amount 100000 shares remain unissued treasury
The company four claims covering about 100
acres. and adjons the famous Holnger property
While yet extensive mining operations have been
conducted the Pearl Lake property. been
a small force OF employed there for more than
a year.
There number of well defined veins crossing
the Pearl Lake property in which free gold has been
discovered. communication from the mine this week
brought the that the company had uncovered a
very rich ven 2S width, and showing free gold
for the entire distance.
Negotiations have already been opened for the pur-
chase Q; forty stamp mill, and it is likely that this
viii be brought the property in very short time.
The stock is well held and should do much better
marSetwise. H.. a. XXI
BUTTE eALLAKLAVA- a6i} q
The Anaconda Butte Balakava litigation will
up before the courts again in about weeks. The
postponement recently for by Anaconda and
granted. concession the part of Butte Baiak-
lava and effort made to force Anacondas case
From time to lime. Of adjustment OF the diff
circulated, but these have always proved
unfounded. the meantime. Butte Baalava contin-
ues to attention other portions OF
its property, which under litigation
DEM ARIZONA
The advance to Sc a share in DEM Arizona has
caused much comment, and the mysterious movement
in the stock has given rise to many and varying re-
ports one very pronounced to the effect
that Calumet Arizona Intended to purchase control
Denn-Arizona. We have been informed by two d.
rectors Calumet Arizona that this story entirely
without foundation, ard that Calumet & Arizona is
handling that 1t to take care OF.
and that is engaged in irrigation pro-
| such might be experienced IN the event uat
pumping of water from the DEM would be
| dertaken.
While the Dem property unquestionably val
liable one at the present time is practically
and would prove an extremely expensive proposition
! to keep dry In as much Calumet & Arizona will
purchase control Of the property there is posi-
pIity that the deal will involve the Copper Queen.
| However this is also purely market gossip. Under
| present conditions, cannot consider the stock as
at all attractive at Sc share.
| ToNoPAH- - tHFi !
| The quarterly dividend Of forty share has
been declared by of the Tonopah Mining
Company. The dividend is 25 cents regular and Is
cents extra payable April stockholders of
ord March s1st The Company is earning slightly
more than 50 a share per annum. and venture the
opinion that close Of the present these
disbursements will fixed at fifty cents quarter.
LA ROSE
La Rose directors this week announced the regular
dividend of ten share. payable April Goth 20
shareholders of record March S1st. There has been
some talk of an increase dividend but action
was taken this subject at the meeting We are
given to understand that OF directors ia
vor increasing the quarterly disbursement and quite
likely three hence. the dividend will be
fixed at at fifteen a share. If this actop
is not taken, an interim dividend may be expected.
La Rose continues make very good production
showing profits of $4,000 MONTH equivalent t.
very close to 81 share the 100000 shares out
standing Some difficulty has been experienced durns
the past in getting sufficient air to operat
the drills used at the La Rose property but this trouble
has been practically eliminated Earnings 70
March should be fully up to the record of the TIVE
preceding months
CHINO COPPER CO.
The authoritative announcement OF the plan for fur
Their financing Chino will probably be issued in tn
course of the next week two II is planned to is