The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-01-21
FRANKLIN
INDIANA

price the stock sales yesterday being made as low
$500 share.
INDIANA
Ground has been broken for Indanas new shaft. and
it has already been sunk about forty The shaft
is going down vertically and is being concreted
it goes down. There is difficulty being exper-
fenced in sinking through the heavy clay and gravel
which lies above the felsite hut the management
ticpates difficulty getting through this
den by the of steel The Indiana shaft will
endeavor to reach the vein which just year ago was
in diamond drilling. and which caused such de-
cded interest the properties the Lake district,
and the remarkable advance the price of Indianas
stock $44% per share.
SUPERIOR & BOSTON
Superior & Boston in selling down to $500 share
Of the curb features of the week The decline
is due to the announcement of assessment of $LO0
share, payable February goth by stockholders of
record February 7th The announcement of the
ment at this time something of a surprise, al
though generally admitted that the directors in
stead Of borrowing money last September. should then
have levied assessment The debt contracted as in
dicated in the rerort stood the stock and
until is liquidated would lie a far any
Improvement in the selling price Of the stock is con-
cerned. With the payment of the assessment just
called this debt will be iquidated company will
Boston has 100000 shares of which $1,000
fun paid and assessable. Accompanying the an
nouncement the President Rice has pre-
pared a circular letter which reads follows:
The assessment called for the purpose of liquda-
ING the Indebtedness of the company and to provide adj
ditiona funds further development of the mine
After the payment all outstanding obligations there
will remain treasury balance of about $4,000 to be
toward the opening of the ore bodies on the
eighth and tenth levels of the McCaw mine SO that
shipments again be resumed. Recent very favor
able developments at the old Dominion mine, at prac-
tcaly the geological horizon also make 1t inn
perave that this vein property should be vgor-
ously developed and work here will be commenced i'm
mediately with a view to the discovery of new ore
bodies
since the issuance of last annual report con-
tinuation of the west ore body been encountered
on the eighth level of the McGaw mine and on the
tenth level 200 feet below shaft station is
ing completion Active development work on this level
will begin within thirty days and it is sx-
pected that ore shipments can resumed within the
next sixty or ninety days The character of the ore
on the eighth level occurring variously as cuprite
glance and native copper and the greater extent of
naturalization in the vein this level and in the levels
above afford every promise that the bodies on the
tenth and succeeding levels will be larger and the grade
of ore higher have heretofore mined above the
sixth level thus nsuring returns when produc-
ton is resumed"
HEATING
The advance in Heating to s1% this week made this
issue one of the features of the curb market Ship
ments during the OF December Melted the Com
pany it is said over $4,000 and continued this
month until early this week. Wednesday there was
disastrous explosion the property the 200 foot
level which caused the death of six men, The opera
tons at the mine have been interrupted as conse-
quence The Company holds employers liability in
s,rance so that the accident will be of any hnan-
cal loss to the Company with the exception of the dam
age caused by the explosion itself
COPPER RANGE
No further interference has been experienced in mill
ing at the Champion and Trmountan stamp mills dur
ING the past week. to which called attention in our
last review However the arrangements which made
the resumption of operations possible, not Of a
permanent nature and 1t is likely that Copper Range
will shortly prepare plans for the building of new
intake be used Jointly by the Champion and Tri-
mountain mills The production for January will show
but slight the Baltic mill used to good adj
vantage in maintaining normal output
ToNoPAH-
1t announced this week that the net profits OF
operations for the December Of the Tonopah
Mining company amounted $4,000. At this writing.
the company is earning s2sO share annually, and