The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-12-24

IN
the line of conservatism
very accurate estimates Of the earnings for the year
,due December 81 1912. are conservativey placed -,
100000 and setting aside 100000 this for the new
COMMITMENT Moo shaft, they would have least $3.50
:, the treasury which disburse the dividend for
m semi annual period Then again portion al This con-
strlction at No. shaft viii have figured In this
Years. COSTS at least that which already been com,
sted such the boiler house equipment they
have carrying surplus in the neghhorhood $500
oO for the past years. there no reason in
sight Why directors would change this year The meet
ing for dividend action Is scheduled for the week in
January.
The average for the year will lOS cents
including construction and when figures are in for
mis- months production the product year viii
he about 100000 pounds, practically the las,
wear Then again the yield copper per
ton Of rock viii show little difference
the year 1911, ..t
The new hosting engine. rock house and rock house
equipment for shaft have been delivered, and
according to the last 1t likely it will
along in February before they will De delivered THIS
sin ielay getting No SHAFT operating capacity several
months and the maximum capacity will undoubtedly not
he reached before June LIST.
At present shipments from No e shaft are from $50
10 800 tons of rock daily Mohawks production G7O
tons ii mineral November been receiving
unfayorabe comment but 1t quite certain that those
Who circulating these stories do not realize what they
are taying The November product is the outcome of
twenty-five working compared with twenty seven
days in October when production for that month to-
tailed mineral At the rate Of production per day
in october for a twenty-five working month such
was November the month receiving the adverse COM
cnt product would have been CSC tons and this small
i6 could be easily accounted for in mass
and barrel work,
There is one Thing to in in regards to Mo-
hawk and that this No shaft reach depth
before getting to boundary and furthermore
while is bottomed at present AT the Loco level 1T has
rcen stopped but little This southern portion of Mohawks
property territory tributary to No shaft is the
richest ground win undoubtedly be earning
twice the amount of any their other shafts when run
ming capacity
Al the mill a Hardinge min is being installed for an
experiment. and found 20 be practical will be
stalled a later date
oEECEo-
There has been considerable activity this issue the
past days. though there really have been no important
developments property. Drifting is being continued
with good results. ON the 1900 level the norm arm
advanced feet has been discontinued ana
the machine mo, ed up to the 800 foe" level lhe "oo
level drift viii be driven distance to the north The
unued, and are in approximately 800 feet from shat"
kEWEENAW-
meetin, of the directors of Keweenaw Copper was
held in Calumet yesterday it decided 10 extend
time for exchanging Phoenix and Washington Sh'res
Keweenaw official of the company tells Us 'heS
pleased at rapdiiy at which the exchange mas
been o date.
The second drilling machine has not gone into commits
sion as vet though will very likely Monday n" "a'a
is obainabe the first hole at this writing
Mr.. Thomas r. Cole Of Duluth attended tho meeting
ISLE RoYALE-
Every time there is any little activity in Isle RoyaIe'
dividend talk is troed out and this has been no
exception Then again. Boston is trying to tell us teS
have a new lode However. can hear of no i""r'a"'
developments at the property the past week
We learn however, thar they have been "r''ihs NV
last ten days to the west of the horizon oil Vt" N''
lode the the Kearsarge lode an ''ys
dlIod found which showed some copper ana " WIS
L. determine the value of this lode that diamond "'e
has resumed The results OF this drilling nave ''''
nit from mineral standpoint the first hole has cut
the lode with values showing. \ second noe WV "
down south Of the hole and but little better Is
u be expected.
In regards to dividend We are afraid there are goins
some disappointnents the first place the mea'
situation has IA certain amount Of influence on any "'i'
"I Directors. both to size of dividend an" '' " '
ment, we believe that Isle Royae VIII De u" eN'l
t. This rule From what we can learn the "' "
not come are led to expect anu ~
more, If get IA reaction in metal as is JnS' l"''''''
itycent basis would be more in order '"S''"' "
quarterly as figured ON with an cent metal market
SAVANNA
At the directors meeting held In pui"'h '"'S WV"
vas announced that operations viii be resumed i''
J., az their Burro Mountain property u s '''' "''
by this that an negotiations with the Phelps '''s' '
10 the purchase al this property are oil we INV" N.Y.
that the Phelps Dodge people have been "''N'''"h