The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-01-13
CURRENT GOSSIP OF THE CoPPERs
Continued From Page Three.

which provide with large concentrating plant
is planned Immediately erect plant having daily
capacity of 1900
believed be possible completely finance
the company place a dividend paying basis
with total than 100000 shares outstanding
the time all the bonds to be issued
At present time Live $3.50 shares issued
while Inspiration 100000 shares outstanding. The
FIRST named has in cash in it's treasury approx
mately 100000 while Inspiration has $l,iOO,OOO
The engineers properties prior the
announcement of the plans for consolidation estimate that
Inspiration amounting sOSOOoOO tons
asaying 1856 copper while 100000
asaying 211% copper.
William b. Thompson, President of the lnspira-
ton Copper company will President Inspiration
Consolidated company. The directorate includes some
the most prominent copper mining the
try
oNEco
oneco was one of the market dur
ing past week, selling up to "a share.
shaft is about 1O25 feet deep. This shaft
will be carried down to a depth before
any considerable will II 122O
feet the company in diamond drilling secured
very promising dri and the objective point of the
shaft is the development this lode where the
was obtained sinking the rate of so feet
month"; will take another four months before the
desired depth is attained. Between
ployed at the property. shaft is going down in the
to 10 feet away from the vein At each
level crosscuts have made the vein and a fair
showing of copper developed although drifting done
any point
The strength in oneco during the past few days
doubedy that the property is crossed b.
the same been disclosed at Maynower
Judging location Of the lode by Maynower las
week in It's relation will not
carry the outcrop Maynower vein. However It
carry considerable of the underlay 1t is possible
though the has changed its in extending
south and it may that is sinking to develop
Mayhower recently cut This is entrely
problematical
oneco has funds sufficient its to continue
operations months without calling
shareholders for any further funds
HANCOCK CONSOLIDATED
Hancock furnished another agreeable surprise when
yesterday came news that another important strike
No shaft at depth of about 5000 feet
In sinking miners late Thursday night broke in
to vein believed branch of the West Quincy lode
The first up rich ground Further
details available what the discovery will mean
to the Hancock property only known with further
development
Apparently formation continues with depth for
the Developments this week came than expected.
Il was thought that the West Quincy would be reach
cd until about the end Of the present month Striking
the vein important alone for this
but more so as it indicates objective point Of
No shaft Pewabic lode will be encountered within
tho next forty days Possibly the Pewabic lode will be
ened by If this to be true it will
ean months in Developments at the mime
for until recently Pewabc lode expected to be
reached much before July This also saving Of
close to 1000 in costs incident sinking addi
onal feet.
The first nstalment the recently called Hancock
assessment Jan TO- and shareholders are losing
little time in responding with the payment