The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-09-12
TAMARAck.

Operations at Tamarack No 8 SHAFT
are confined TO the day SHIFT. the night
forces having recently been dismissed
This shaft Is among the largest in
tine world, and. considering the amount
expended for its sinking and equip
ment, one OF the biggest disappoint-
ments as a mining venture. Its loca-
ton is In the center Of what Is known
as the highest mlneralized portion of
the Calumet conglomerate, as evidenc-
cd by all the ground opened up on
the Calumet x Hecla. In It's sinking
il was directed To the same copper
course as that being wrought at No.
SHAFT OF the Calumet 4 Hecla, and
which is continuation Of the lode
cut by the wonderful Red Jacket shaft
OF the latter at a depth Of about $500
feet
No shaft commands an enormous
stretch of territory. particularly with
depth. so that had the fates been kind
the company would have an extended
future of profitable operations,
Il may be said that No. shaft
proved a disappointment from the
first day It disclosed the big con-
glomerlte. its yield being FAR below
that of it's more fortunate ncighbor,
nor did II improve TO any extent with
subsequent developments The open
ings now present occasional good
stretches. but not sufficient 10 bring
the desired mill results
No. 4 shaft proved disappointment
only in lesser degree, while OF late
years the most consistent results were
furnished from No. 3, the worlds
deepest shaft. The situation as al
whole presents gloomy outlook, the
factors Of deep mining, eXpensive|
cross-cuts and declining yield surely
making for uncertainty, with the fu-I
turc TO determine II they can be over
come. Since the inception Of the
company its affairs have been admir-
ably managed. The Tamarack is an
omshoot of the st. Mary's Mineral
Land company and the commencems mt
Of mining operations by it marked the
inception OF the most interesting min
ing project in the history Of the min
ing industry in the Lake copper re-
gon. Much has been said and writ
ten on this subject. but the true con-
dition OF affairs was that In the early
eighties the Calumet q Hccla COM
pany fully appreciated the value of
the Tamarack lands, and submitted al
proposition 10 J. u. Clark. since de-
ceased, Of the Clark-Bigolow proper
ties. for their purchase. After due
consideration Mr. Clark concluded |
that the operation Of the property by |
means Of vertical shafts was feasible, |
and consequently declined tho offer
and organized the Tamarack company
IN 1852 Looking back. and having inl
mind the enormous expenditures FOR ]
shaft sinking and cross-cuts the factl
IS most apparent that the best results I
from the Tamarack copper values I
would have been secured by the pass
Ing Of the property 20 the Calumet &
Hecla.
The market career Of Tamarack /
serves as forcoful illustration Of !
the height 20 which speculation has
been carried on undevclpped values. I
with an entire disregard for amorti- |
zation and I'm fact anything other than
immediate results
About Is years ago. Tamarack sold /
at $3.50 per share. this when the mine
was producing above 100000 pounds
Of copper per annum and securing a !
recovery Of 30 pounds per ton OF rock. ]
Paying $40 per share per annum, and 1
with the prospects Of No. striking
great riches in the Calumet conglom- /
crate, these shares enjoyed an excep-
tional market until it became appar- |
ent that there existed a vital weak |
ness in the companys asset, that or
proved and prospective orc tonnage.
Tamarack discontinued dividends in I
1907, during which its shares nuctuat- |
ed between 40 and 81. Dividends !
commenced IN 1sSS. and the aggregate |
distributed 10 the shareholders during
this brief period was s9.42OOO0. or
Sl57 per share, an excellent return 90 !
the original investor.
Tamarack Is one Of the several fall |
ures during recent years resulting |
from either the sudden depletion or
sharp decline In ore values, a fact that !
has since emphasized the physical adj !
vantage Of the leading porphyry pro- !
Cuccrs. such as Utah Copper. Ray |
Consolidated and Chino in the pur-
chase OF which FOR Investment the |
elcmen, Of risk common 10 mining
securities Is reduced 10 the minimum,
owing 20 tho cnormlty Of their proved !
ore tonnages and the assurance oil
uniformly favorably operating costs, |
leaving the price Of copper practically