The Calumet news., 1911-11-04

and believed that a substantial ore body will ho a.,
closed this level The which was sunk from tho
10th level is about 60 feet in the way of a poo,
grade. Work this point was discontinued because =,
the ventilation excessive cost of this Ia
of development particularly so as the pron,
will be explored at the 18th giving all the nfoa
ion that couio obtained from continuing the winze q,
the 10th level
1t is quite likely that operations will be outlined
toward the exploration of the territory the McGa
shaft on the 9th level Superior & Boston did some a
poratory work cast of the shaft while no conmer
eial bodies disclosed the indications ware ,
promising and Consulting Engineer Propert is or Tho
opinion that at the depth by the Mcoaw
shaft it would be advisable further explore this virgin
territory.
superior Boston Is now expending less SIS 900
month The assessment last month is being paio
most satisfactorily by shareholders and the
believes that this will provide sufficient to carry on
operations through the present winter The ouestlon OF
further financing is causing the directors concern what
ever or they have the assurance that funds
are necessary they obtain assistance the same
interests who agreed the company when the
consolidation of Arizona and Superior g. Bos
ton under consideration
WOLVERINE
One of the the Boston stock market this w
just passed, the above 500 share This vael
broke as low as $74 although showing partial recov-
cry Thee were several given decline; one
hat wolverine holders selling thr purchas-
Ing Mohawk and Aouez with the proceeds another was
to the effect that the showing new shaft on the osce
ola was Disappointing The mentioned reason NAV bo
true but the second need carry little weight
The shaft being sunk on the Osceola lode nv Uov
crime is now 1926 feet deep drifting being done at
this point The management determined to do lateral
work at this depth the shaft had through very
eh piece OF ground The drifts however shown
up very wen to date This condition quite character
tic of the osceoa lode which bunchy 1t estimated
that Wolverine has from twenty years ahead Of II
and this may cause The production for
October 500 mineral Wolverine dresses its
mineral very close to so cent, production is
being maintained a normal basis
SUPERIOR & GLOBE
The Superior & Globe annual report will be forhcomine
III II ew days. and Will show the company have about
'VV !" 'ash On hahd No work Is now being
property Ihe company has applied for patents all OF
us IL claims and has enough to take care
Of this outlay well paying taxes ana other ex
Denses at the mine Superior Globe has no payments
any work will be done a time as general marlo,
conditions make such step advisable When operations
ire resumed it will be possible begin work with no
heavy outlay
superior Globe claims very well located in the
iobe camp anu while developments to date have been
tons
;oLDFIELD-
Ihe statement of operations month of eptember
oh quite concusively to the unsatisfactory financial
'"'i'on Oh Goldheid Consolidated. Earnings the
month were $44366 the lowest bv ovar
any month In 1911 The treated during the month
eraged $3.50 per ton against $4O2 for the same month
l'V Ihe earnings for September at the rate of
''oVVV Fer year. while dividend requirements at the
e 'he company Is now dsbursing $7OOOOOO a year
mere Is no doubt but that the company shortly lower
IS dividend rate from fifty cents share ouarer,v ond
vii likely fix it at 25 as a regular dividend and
ossibly ten cents
ITAH COPPER
~ copper Tor the quarter ending September sOth pro-
uoeu zoS0oOoO pounds of average cost of
o ''"" per pound. This is the lowest ever OBJ
lined by the company. earnings for the oparor from
sources amounted to s1,5SsOOO while the dividends
ere N17HOOO leaving surplus result of operations
n the quarter OF sS61OOO The basis of compuation ~
"a cents per pound for copper
utah Copper is producing the rate of over 1Oo
ooOo pounds of copper per annum and is said 90 ho
Ve'opins more satisfactorily than most enthusiastic
ppor'ers ever expected Utah Copper is paying divi-
nus at 'e rate OF 75 cents quarterly, unless copper
Il" oeiow IL cents pound change this rate need
expected.
cToRIA-
victoria was more active during the present week than
some months This activity is due to the improved
U'''S at 'he mine The company is opening up a rich
e'n OF ground on the 10Th level drift east for
'e 'hah oOo feet has shown good copper values and
. conu,on was noted on the 18th level On the 22nd
ei the drift east is good ground altbourb NOT 70
ch an extent in the levels above
The new shaft known as NO g is nour soo Goo, doon
" a formal