The Calumet news., 1912-07-13
oNEco

tons at its property which are being conducted ,sv
economically Drifting the iiOo level being done to
the while in the 1900 level the are being
driven bot north south foot wall side of the
best naturalization Drifting at these
will continued sometime longer and future
operations will be governed largely by of these
developments.
oneco in of further funds tits rather sur
prising the directors an assess
ment That the treasury impoverished is generpI,
known. and If the would called is no
doubt but that shareholders would be prompt in max
ing their payments there would be better market
for the stock.
HANCOCK
Hancocks No shaft now in well mneralzed
vein. but its Identity has been positively deter
mined. There have been false alarms during
the weeks that Manager Harris refuse,
c state positively whether this is Pewabic lode or
some other unknown formation whatever the present
lode be later known the naturalization is of such
nature to warrant further attention later date
The being the 34oO level has Gu.
several promising mneraized formations although as yet
this work has not disclosed positive results with
the multiplicity OF mneralized formations which No
shaft has disclosed in sinking in the SoO' 400 feet
there is doubt but that Hancock will to provide
large stopping of profitable ground
NORTH BUTTE
The buying in North during the past week was
inspired largely by the very developments on the
2fO0 level During the past the crosscut reached
the SNOWFALL vein and to last reports the
vein for ten feet showing excellent The
vein is opening just rich 1000 and Q 200
levels and at the depth indicates the pcrrnan
of values in this lode adding materially to the worth
OF the property.
The Snowfall vein is proving to be as rich as the
Edith May and Jessie promises to carry
as much IL not Of a profitable grade AS soon
the vein is drifting started and ore
viii be rapidly increased result this latest develop
ment.
The next quarterly promises to show an increase
in and give official information
cerning the very satisfactory recent expora
tory work
COPPER
SO much has written of concealed and visible cop
per during the that the public is in a
'ertabte maze trying to find way to correct
solution of the sharp preak in London
metal prices Before proceeding any further IL is well
To state that we do not believe in story that cop
'er is being stored secretly.
"A careful canvass of the Lake Superior smeters dis
loses probably the scantest supplies on hand that have
een noted in years In copper is shipped to con-
umers almost hot the furnaces and II seens most
Incredible that the metal would wanted in such haste
@ be stored away We usually get such stories whom
ver there is lu in buying or healthy reaction oc
urs
Prominent copper interest now abroad Certain Of
eSe oo"naht FACTORS in the metal market
" IMPOSED TO selling price for much ff
cen cents They hold that higher quotations invite the
Se oi substitutes for the metal Such being the case it
oud not be at all surprising finally learned that
hese interests are responsible for the break in o,oa
IONS and that they shaping matters with the idea of
giving copper firm market around the fifteen cent
igure.
me PRODUCERS statement which issued early this
eek indicated the true condition the metal market
'ne production fell off during deliveries were well
'n'ned and the month closed actual decrease
the visible supply of 52SOOOO pounds bringing rho
lus down to 4,SS5Oo4 pounds as of Julv Tho ,
81 ever reported since the publication OF the fgurss nv
ne Copper Producers association
SUPERIOR COPPER
superior has been the decided feature Of the co,nsr
-, :, Ns "'e week Just closing The stock ad-
'e' ABOVE sfS on rumors that rich ground had beer
pened up in No shaft Such ia no, tho - -,
'' the rise has been fully warrentedf nv ,ho r,, :,
ons as indicated by superors monthly outnut
M tue present time Superior is doing Iaters, u,or, ,r
= ~ Ne' oi NO 2 shaft toward he West lode I'm, ss
" Important results have been noted Commercial
pu up at NO. shaft will mean a second
: . "'"e ior superior and will make the stock worth
" aooVe 500 per share with copper selling in the neigh
'rhood of IL per po,nd
'o' Is shipping from 500 to $50 tons of rocI dsiiv
=, "u'"uc s'ampmilL We are informed that mi,
e'urn'hs close to 27 pounds of refined cor,er ,o
" 'o'N stamped making Superior the richest sbinnor
'"e Lake Superior district at the pressn, A.,
INlNe NOTES
"e S'ee' report issued this week showed ,,neued tom
SO ev u 'So"ooo an increase 5ssss tons over the
evous WV '
sic