The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-11-23

able December 30 1912 stock November q.
1912. This will make total disbursement to Quincy
stockholders s2O43oOOOoO covering period of fifty
years 1862 with the exception of 1866 and 1867
While the OF this divided somewhat of al
disappointment realized the vast amount of
money that gone back in the property in improve
ments and which will eventually to increased earn
ngs shareholders have complaint
BY the addition of Pontiac tract which taken
over some time ago. life property has been
greatly extended though Quincy has by means
been worked OUT in fact understand that they areI
| getting considerable levels that sup
posed to previously mined Then again. they have
reached the boundary of their property which
was years by the purchase or the
st Mary's to the west. cost OF 100000
There $4,000 still due this tract wsch will fall
due July next readily taken of OF
earnings, though it means $L25 per share.
The most interesting developments the have
been on the Pontiac No . shaft, which is bot
toned at approximately showing ground of
an exceptionally good character and will in the of
very little while a producer, is planned to hoist
rock broken territory tributary No shaft through
No shaft until the equipment at No has been fully
| installed
Connection No. and has already been made.
and with electrical hauagc tramming system, the
extra distance for trammng will the cost
up this territory be shipped at the time
interfering with the in placing this
shaft in position to do maximum duty Most of this No
sinking done curing the low price Of metal
and in order do it economically possible only one
compartment finished. The work of timbering the
other compartments will be rushed rapidly
sibe and in the spring the equipment, which is
duplicate of No. s. will be installed This equipment
which already been ordered will be delivered early
in o,I
inside of six months
Besides this construction cost of the other ex-
pendues during the past year have been the remodel
ing and installation of labor saving devices at No rock
house, compromising the Nordberg hoist at No s, in
stalation boiler plant at No. shaft which will
eliminate thousand of sixteen-nch pipe the
booster air compressor plant which pounds
raising pounds greater efficiency be
secured light drilling machines, and the com
peton OF Turbne-engine hosting equipment at No
shaft When these expenditures are taken into con-
on in regards to dividends
can be readily understood.
As near as we learn. Quincy's present are
in vicinity of liz cents pound including the
construction which is considerable item at this
| time. a l7H metal market they earning
80 per share. With the completion of the
labor saving devices. the costs should be reduced
While this of the oldest properties the Lake
Superior expansion policy inaugurated by the com
pany several years gives them total of better
than 3h miles the Pewabic series of veins, with only
miles partially worked out The Pewabic lode
of parallel veins showing naturalization for
width OF feet places, and many four
separate splits have operated furnishing
paying with rock between This property has
always a prolific producer of and az
about 300 of the total production from this
source compared 1917 years back.
ADVENTURE
this property is progressing quite satisfactor
y and all indications point to it making good with fur
Their openings. At diamond drill is being driven
from the bottom of the shaft which 1859 feet deep
to ascertain if the shaft badly
shattered found be in the crosscut driven to
explore veins, No and No. Drifting No. 3 vein
is being continued and we are told the showing is all
that considering the broken country at
this depth. However likely that with depth
both No and No. lodes will be found permanent,
and 1t for this reason the being from
bottom Of shaft In sinking the shaft, lode encoun
tered which did not show in the drill This lode
designated number ~ encountered in the shaft
depth about 1000 feet a drift from this point
has been extended about SO feet with exceptionally good
results.
the only development work being carried
at present which amounts to about 300 feet per
month While good stock pile is being accumulated,
there of resuming milling operations at present
undoubtedly mill will be started until the mine
sufficiently open to furnish rock head gons
continuously
1t is estimated Adventure has In its treasury present
something $4,000 and the present rate of ex
pendures of $4,000 per month further funds should
be necessary until well into the of 1918.
AHMEEk-
An experiment Is being conducted with mule-power
| tramming this property and far is said To-
be showing quite satisfactory two mules that
were purchased b, company have been taken under