The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-05-15
CURRENT -, -, COPPERS
- GOSSIP ~. IT OBy J. :. o MMpEAR
LAKE


LAKE
There has been accumulation of Lake noted
during the past week two and efforts to acquire any
considerable amount of the stock with much diff
Guilty. Developments at the property progressing
energeucaly. The which lies $50 feet north
Of the old will probably in commission in the
early fall The shaft has holed through from the
second level to surface. and only comparatively small
amount of work Is yet be done i'm order TO have the
opening down to the seventh level 1t will take but
very short time TO build the skip road, and the new
hoisting plant which has already ordered should
be in commission long after September The
new 80 drill is operating very satisfactorily
and will be of sufficient capacity all require
Iments for some years The hosting equip
men at the old shaft is being taxed to capacity and Is
retarding the progress development work The new
shaft will handle all the rock mined It is
completed, and it is likely that shipments will made
available for custom work before the close of the
ent year.
The stock pile at the old shaft assuming considera-
BILE proportions. The underground developments show
no dminution of enrichment particularly in the
drifts north have results been gratifying Those vino
have had the opportunity or inspecting the aterals
of the opinion that before in its history
outlook for Lake from a physical standpoint been so
promising.
IcHNo-N
Chino has been listed the Boston Stock Exchange.
and is now dealt in there well the New York
Stock Exchange and the local curb The balance sheet
fled with the application for admission to the Boston
Exchange shows the necessity early financing. 1t
is understood that plans have practically been
cudcd for this work. and that will the form of
nond Of 5OO
Chino has outstanding 100000 shares present
time, and 1t is likely that the capitalization will in
creased to 100000 shares.
BY means of churn drills and shafts the Company has
re blocked out developed and partially developed, ag-
gregang 100000 tons which will assay 2h 20
copper The larger percentage this tonnage can be
handled by steam shoves making the cost OF produce
lion lower than the other Arizona property PROPOSE
tons 1t is reported that foreign investors
are anxious to obtain interest Chino, and that
negotiations along this line are now in progress
! CALUMET HEcLA-
The past brought out no important develop
ments in the Cllumet & Hecla merger. No decision
has yet been handed down by the Federal court and
until this is received 1T is likely both sides will
take further action 1t is understood that a num-
ber OF directors of the company and its subsidiaries
will soon visit the properties
The semi-annua dividend Osceola shares ordi-
nariy is declared in June and payable in July The
quarterly dividend Calumet & Hecla stock is paid
in June Shareholders of these companies are begin
ming wonder just how the injunction proceedings
will influence these disbursements af the dividends
are paid and the not settled, It will later re-
Iure considerable adjustment the consolidation
basis fixed of March Is.
KEWEENAW COPPER co.
The annual meeting of stockholders of the Keweenaw
N
old board reelected was announced at the
meeting that the company would require further
assistance from shareholders this The informa-
lion also given that the shaft on the Kearsarge
vein would be sunk to depth OF 1900 feet where a
good core obtained in diamond drilling The shaft
is about 900 feet deep.
INDIANA
| Indiana cut vein sixteen feet in width in No
drill hole at depth of Lac The core showed
heavy copper The announcement without effect
en- the market. The development was of more than
passing importance indicating the that with depth
Agomah will open up native copper of the rich
ore that Is being disclosed. g.
SUPERIOR BOSTON,
Superior & Boston a distinct feature Of the mar
ke this week and heavily traded in at advancing
prices. The buying started sympathy with the sc
emulation in Arizona Commercial and was further
stimulated by received from our Globe cores
pondent
This information received Thursday and started
the movement in Superior g. Boston from 81 To ,5x
per share. Our wire indicated that Superior BOSTON
had cut the Great Eastern vein and had started r,f,
ing on it at once Ore opened up 24O feet sooner
than was expected at this point Indicated that the
ore body at the tenth level greater in length tina,
In the levels above Further drifting will be watched
with much interest
The report OF rich silver gold values in addition
to the high copper assays Arizona Commercial will
naturally reflect favorably Superior g. Boston for