The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-10-05
Continued From Page Three.
TAMARACk-


arae!s the this week only to the sockhold
ourselves. stated the early part of this
Year Tamarack in the neghborhood of IL
cents, and at rdicued by many. We
refer to January GOTH Then this issue was
selling around S25 this 1t sold high $50
| -iumors of a $3.50 dividend at an early the
reason for the activity this However. UNDER
Secretary F1agg stated that dividend talk
Tamarack this time is very premature
While the last annual statement of Tamarack showed
liabilities sS5lOoo it is made prin
cipally Of Hancock & Calumet r. r. stock and bonds
smelling stock and supplies They showed the first OF
hand $4soooo while notes and
accounts payable amounted 100000 The first six
this showed profit of $4,000,
which should start them of this with
$4,000 surplus Their further
increased by s23OOOo proceeds of the sale Of
head mill the time of this SALE it was es
tmaed approximately this amount to re.
model their other three-head mill and install regrndns
plant.
Tamarack is shipping about 1920 tons of rock per day.
200 coming from the amygdalod through No shaft
being conglomerate rock The amygdaoid
running about Is pounds while the congomerate
is running 10 pounds a ton This would give them an
production pounds month"; and
allowing 121s the earnings the pres
is-cent metal
kEWEENAW COPPER
Mr. Thomas F. Cole associated with Keweenaw Cop.
company stated in reply inquiry that active OPP
eratons will be started the Keweenaw property just as
Manager has concluded the working
OF al details Uren is already laying plans
drilling operations locate those points
where the Ashbed greatest naturalization
Although instament of the assessment just
was
being Ieid promptly
A miner who working in the st. Clair and West
shafts Phoenix the Keweenaw Cop
company during the months of operations stated
10 this that there is question but that Ke
weenaw Copper placed a paying basis
stated practically the this prop
erty days with hammer and drill. only al
few drilling machines being used which
with the o-date one-man drilling ma
chimes
While vein narrow very rich and with any
in breaking ground its contents will run very
high. fact according old records in the year
l9osIaO4 they getting better than 80 pounds of min
the of from these shafts
BUTTE ALEX SCOTT
meeting the directors will be held in Duluth October
10TH which time dividend action will be considered al
the edvisabily of taking option the Moi
fat properties Twin Bridges. Montana. The prop
ty claims the price is $15OOOO $780,
900 to be paid at the end of the first $4,000 the
ond the balance the the third This
property has proved up numerous pits and
tunnel has been 500 depth of 500 feet,
The tunnel a eghty-six wide which
is traceable 15OO TN the surface
Providing the mine is represented, should be
Whether property will
meeting the 18TH In the meantime General Manager
Stone will make exhaustive report Moffat prop
crty.
With the exception further development costs we
understand that the only ether expense Scott
before this Mofat property be put producing
approximate $4,000 expenditure for an
aerial tramway from the property.
The regular quarterly dividend fifty per Is
expected Butte Alex Scott earning about SO share
n. the present time Augustus earnings sl650O as
compared with s2157 in July from production of 100000
pounds of and 1897 ounces of silver. This is
covcry little better than ~ the
o. Pttsmont smeter.
Their copper them about 1914 the month
of August. This divided follows: Deveopins.
4O9 mining, 1896; general maintenance. 1881 sme
ing refining selling and freight copper market,
7.771
To people of the Lake Superior district this smelling
filming. selling freight copper
excessive and is excessive with Lake Superior
ga milling, smelling refining. selling
and also eastern office
This illustrates the possibilities mining companies
that their shelters. East
little $4,000 for handling 6124 tons
Alex Scott and marketing the pounds
which the of the fact Scott
people received only little better than the
value of the ORE per assays. which the
Scott had to all development. mining
and maintenance TIE comparative costs are 1885
ton for mining and $442 for smelling refining