The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-02-13
CONSOLIDATION IN UTAH

properties the Cottonwood district of
Utah. will be brought about The properties
mentioned the deal South Columbus Alta & Hec-
la. Continental. city Rocks, and several others
options the properties have all been obtained and
it reported that the bulk money required to
further the deal has already arranged for Hol
land interests will be connected with the
the deal goes through originally intended il viii
the resumption of vigorous development work in
the Little Cottonwood district A long tunnel draining
the entire district will he driven, a built and
larger mill installed. The plans considered VIII
involve the expenditure Of close s1OOOOOO The for
eign interests have had competent experts the
entire situation the reports given have been uni
formly favorable.
GlRoux-
The annual stockholders meeting of the Giroux Con-
scidated Mines company. held this week. and on
the whole the annual report submitted considered
very creditable Contrary general expectations
however the selling above $500 just before
the meeting held reacted TO 1925. The selling is
attributed to owners Giroux convertible bonds who
finding the conversion attractive, sold stock against
their bond holdings.
The annual report prepared indicates that the Groux
has blocked by churn drilling 100000 of
averaging 1S6 per copper together with consider
values gold silver. In addition the COM
pany developed "A considerable amount of direct
quantity of this class of ore
The financial shows available cash bal
ance of s444726 in addition which Butte & Ely
subsidiary of Giroux, has s242,O37
the report stockholders Thos F. Cole president
the company says in part:
1--WE are still directing efforts towards reaching
and opening through the Giroux shaft the high
grade bodies the old Alpha shaft the 1000
foot and 1,2OO-foot levels.
have also continued sinking che Giroux shaft
the l,4OO-foot level that crosscut be made
from this level the Alpha territory The crosscut on
the 1,.OO-foot level started Sept 16 1870 and we
expect to complete about March /, 1911.
"The company still has a very large territory unex
pored, which the prospects for showing UP addi-
tiona ore tonnages bodies along mile
or more of our land which should be of the
character Alpha shaft territory The churn
drilling has demonstrated that in very large portion
the territory west and south metal values have been
leached out and redeposted at depth To reach these
ores. well the Alpha mine the Giroux shaft
was sunk in the limestone equipped with modern
pumping, hosting and other machinery as to give
us a permanent outlet Development work from this
shaft pumps handle the water installed,
will be vigorously prosecuted.
"The porphyry ore developed has shown richer
per the surface which will be the first
concentrating ores mined and treated will be of
grade considerably higher average shown in the
estimate therefore, years after work that
portion of the property is commenced the ore extracted
will per cent or better in copper The lower
grade taken out in future years as the
price copper metal advances 1t is proposed to do
considerable additional development work the lands
just north of the Butte & Ely property. and
hopeful that this viii disclose additional of higher
values
| ad 1oas mot
any estimate of of the high grade, d.
rect smelling ores known to exist in the Alpha terri
tory The drilling drifting heretofore done at that
point are sufficient enable this time to make
any estimate of definite tonnage in that territory but
such gives every indication of very large ton
| mage OF high grade From now on, development
work will carried extensively with view of
showing and value of these ores as
possible.
1T is expected that Giroux will be producing high
grade smelling ore within the three -four
! months. and negotiating with the railways
reasonable the to smelters to apply until
time smelling proposition is fully solved to
the best interests of the company
QUINCY
Directors of the Quincy Mining company this week
the regular quarterly dividend of s1OO share
payable 10Th stockholders Of record February
| 25th. The dividend is the same declared three
months ago. against $3.50 year ago With the pay
Of the dividend just declared since its organza-
ton Quincy will distributed to shareholders to-
tai of S1s.55O.OOO There is likely to be no change in
dividend disbursements by Quincy until such time as
the metal market shows greater strength The COM
pany is obligated to pay 100000 to the St Marys Min
company for property purchased few months
ago.
DAVIS DAILY
Further efforts are being made Dust President F.
A. Heinze from Davis Daily This week a large number