The Calumet news., 1912-07-27


The quarterly report nopah ending May ast show
ed the company to of quick assets amount
ing to $S7521 During the period covered by this report
of the company was s45S7S5 In eXpors-
ton work sl5289 were expended and dividend Of s4Oo-
600 or forty paid leaving net balance added
to the surplus for the quarter Of sSS'556
As yet Tonopah has made announcement concernins
the acquisition Of properties. but It has large
force Of engineers carefully investigating the merits of the
several mines It has under option
NlPlssNG
Accompanying the quarterly dividend checks Nipssins
issued a statement its finances Of July l. 1912 The
company that date had cash on hand amounting to
sless9S Additional quick assets brought the total to
$l.4932S3.
The quarterly report issued by North Butte indicated
that there has been considerable increase
serves and further betterment may be
expected report indicates that the crosscut on the
500 level lacks about ntersecng the Jessie
vein and as ventilation materially improved az
this depth rapid progress be expected
The SNOWFALL vein continues show satisfac-
tory results on the 1000 2,2OO levels. The dis
closed richer than found the LsOO level and
apparently continues oepth the 24Oo level the
deepest work the SNOWFALL ven encoun-
tered early asayng 40 and ounces OF
silver Drifting been started this vein both east
and west
Since July a vein encountered the 1sOO levei
a short distance north the Snowfall vein The vein
showed a width and assays returned between
and 30 copper and 10 1S of silver In the
upper workings, this contained only small bunches
Of
The report concludes statement that under.
ground work during quarter confined largely to
the properties farthest north and large amount Of good
orc was developed in the veins in this ground
MIAMI 'r
|
trading further advances quite probable
Developments at property during the month or
two have been Of a encouraging nature. In the
about 5000 feet of development work
all 1t is estimated that in the ore body
tributary the Captain shaft less than 100000 tons
of ore will available. churn drilling has ais,
been resumed and depth than heretofore OBJ
tanned ore running trihe than three per
pr was disclosed.
For the first months Of 1912 IL is estimated that Mia
mi net profits were s9s2674 equal about $40 per
the outstanding stock At the present rate OF
production betered price obtaining for
earnings during half OF the year should be bet
ter than 81 per share
SOUTHWESTERN MIAMI
Southwestern Miami continues the exploration Of its
property with three churn drills No. hole is being
drilled in the southeast portion of property
the last report the had attained
depth OF 6iO feet No. bottomed at depth
of $50 feet when discontinued temporarily TO
permit casing No hole deep. and promises
to disclose interesting is but 200 feet from
No hole where good encountered.
c MINING NOTES
II begins to look like eighteen copper before tn.
close Of the present summer
During the present actual sales of copper we're
made Of IA cents per pound AT TINS writ
ing the only offerings are ia. cents per pound
in No sha and
this shaft operating capacity will be able to assist
materially in increasing monthly output of the proper
a ty.
Adventure command more than passing at
enon and this property visited by promi-
nent mining men, An advance In this issue OF
-i several points quite likely.
Mass is shipping OF 400 tons OF rock daily TO
It, mill and will gradually this to 200 tons per
i day within the next months Shipments are going
il forth almost entirely from shaft CO..
t Duluth calling attention TO the speculative
possibilities of Calumet Sonora, and advise that with
&c the new organization viii he long before this prop
a ery will show substantial earnings
" Shannon directors early in August for divi-
X 6end action and the strength in the stock seems to
strongly confirm that dividends will be re-
sumed at the fifty cents quarterly
New Baltic lode is driving from the 5Oofoo
level with the purpose nerceptng the Msynower for
nations II expected interesting results viii be
ar obtained during the next two three weeks.
Ely Central has disposed portion
10 o. it's property to Nevada Consolidated dumpin'
rs ground The transaction involved $4,000 which
re sum win be used by Ely the exploration OF H
b. property.
Fl, We are told that Keweenaw county may be the scent
OF further exploratory before Of the presen
year will be done at the Ashbed property so