The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-03-09
CUEE6REESNTPP OF THE Co &C, !! a|s1sss
oOSAA '' COMPANY
: BY j. A. MINNEAR


able development is momentarly expected
The annual report the company which wos ssu, a, .
week indicated that the company closed the year win :
debit balance. However. call share was pavah
early in January and other 81 is due the latter Nat
OF this month so that the company is well financed 10,
the remainder OF the further calls need he ~
pected unless Hancock directors definitely ON the p
for a sampml.
The report calls attention that in the mill M
made during the year. $4,000 pounds OF refine,
copper was produced giving recovery OF 1921 pounds
refined per ton of stamped This copper wa
sold at an price of tribe i2 cents
pound.
In commenting developments at No shaft Gener,,
Manager Harris in part gives following Information.
During the last months OF the year the shaft vo
sunk and timbered 405 fees average OF 81 feet ner
MONTH and during the and imbered 5s feet
To 3ls7 feet below collar No veins CARVING
copper in commercial value encountered during the
until depth S.i05 feet attained when an
amygdaod lode heavily charged with shot
small barrel This vein is deslg
mated No lode. The width the point intersection
measured right angles dip formation is be-
tween and feet and judging its character and quail
ity win be very valuable asset
Development work throughout the mine will be confined
TO the opening OF ground by drifting until
No shaft Is bottomed when the necessary stations below
the oath level will cut; crosscuts 10 the west
group driven with possible dispatch and ground
blocked out for regular Stopping.
The general of years work have been salts
factory and from indications WILL In the near
future in position carry mining operations on
more extensive scale"
KITE BURTON
Earnings February approximately $4,000 These
the largest earnings reported by Kte Bur
uhfrh
been idle for several The about
$4,000 while expenses during were close 70 81
coo.
This company operating with rs men, and has
fifteen stampmill
Kittie capitalized 10000 shares all issued
The company issue 800 900 In bonds The
management does expect earnings maintained
indefinitely month but consld
crs the future of the property very promising.
CHIEF CONSOLIDATED
almost fifty per cent In Chief during the
this OF the features the curb
market. The upward largely the
report that the company had increased its shipments
terally and that earnings had shown decided improve
ment our Salt Lake correspondent following
information
During the the Chief Consolidated property ship
red 10 carloads which
ord made by this company This in the neghbor
nc Cd of 400 tons of The 40O and
1000 foot levels where the opening consid
cradle Conditions declared be the best that they
have been the property and the body that has
been picked after passing through fault is showing
in quantities well better grade than that
the other side of the The into
this last December after of de-
velopment work Earnings February reported to
have been approximately $4,000"
SOUTH LAKE
At the annual meeting South shareholders held
this week. directors authorized dispose of the 4O
600 shares of stock unssued in the at
their discretion.
The annual issued showed the company have
cash balance s2623. The company is doing work
whatever but will probably operations soon
as additional financing has been arranged II is understood
that negotiations opened of the 4O
600 shares in block satisfactory price and II
the transaction is closed South Lake will begin
shaft sinking site already been
selected.
Diamond drilling South Lake showed the to
have four rich aygdaiod beds property 1t IS be-
eved that westerly extension the rich
Lake lode
MINING NOTES
We would buy Lake.
Old Dominion a quarterly of as cents
per share this week.
New Baltic higher week in sympathy with the
tcaily for the reason
oodneld Consolidated declared the usual quarterly dvl-
dend thirty twenty extra of hfy
payable April to shareholders of March
30.
O A Roston ct which