The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-03-02
Cu G6ssIP Of The Co c., 7 1s1sss
& COMPANY |


tempted TO withhold any Of the news OF drilling ,
u to the public Just as Is received nv hin, -,
policy In this respect might well emuated nv an ~,
ing companies
The sensational from Mayhower is no. M
there will probably be nothing important exesn, ~
nuai meeting for another month more A new hi,
known as No IS is drilled $50 feet north ., ~,
ohle " !"
The st. Mary's Land company directors have aoo,so,
leave the question Of voting the $4,000 shares OF
the company owns at the meeting TO the exa,,
committee
old Colony will start another hole to be known ne M -
about zoo feet south of No lG Mayhower This drilling viii
serve the of exploring properties the ooo
exploratory work being confined close boundarv linz
between the two properties AS in the of Maynow
there win probably important news from Ola c,u
for another month. No. IL should reach an inor,,
point when about 500 feet deep
NAuMKEA6
Final payments for the property taken over nv th
Naumkeag Copper company made this week ~, -.
General Development company. of which j. Parke Chan
ming is consulting engineer The company is capitalized for
100000 shares OF value $25 1O2 900 shares
win be issued $40 paid The company win start on
tons with s253,OOO in cash treasury It has NO.
been announced whether there will any public Offering %
the stock The property of 900 acres ana win no
explored this summer by extensive diamond drilling
RAY CONSOLIDATED
The final details absorption OF Raw Central bv ~
Consolidated have been completed The deal will prooo1
along tho lines originally upon that is eight shares
of Ray Central win be share of RAY
Consolidated.
The time exchange on the basis above announced win
expire March 2s. shares will be issued in
stead Ray Consolidated will for as might
arise the basis the closing price for RAY Console
dated stock the day before he presented for ex
change Already I7l7000 Of tho $1SOOOOO Ray Central
bond issue has been acquired by Ray Consolidated
CALUMET & HEclA.
The Increase in the Calumet & Hecla dividend from 50
to IS share quarterly something of an agree
able surprise shareholders The the directors
OF Calumet Hecla carried special significance in
ure of the metal situation hardly likely the Board
would have increased dividend 50 per share had they
not felt that the metal market is firmly ntrenched
that the future holds great promise of even better
things. With selling than fourteen cents
pound Calumet Heca earnings considerably in ex-
cess of present dividend requirements.
1t is estimated that cent basis earnings
are equal TO s35 share new regrInding plant
is completed the compny should show further increase
OF earnings. One drills being underground
at the Calumet Heca, and they with expecta
lions OF the management is quite likely that doar-roc
will be a certainty in very short time.
WOLVERINE
Wolverine directors semi annual dividend
Of So share payable 18th to stockholders
ord March 9Th This is increase tho
dividend paid six months and is the paid
a year The action of stock during past week
indicated that increase disbursement to be
expected
The announcement by another
significant act demonstrating the decided
the metal situation that which existed months
ago.
There has been nothing particularly in the line OF
developments Wolverine curing past weeks The
company is driving 18th level to
explore its territory in that direction and interesting de-
velopments be looked few weeks
COPPER RANGE
There was some very good investment buying noted III
Copper Range this week. despite the that the dividend
declared the paid three fifty cents
share. This dividend will paid April stockhod-
of record March End If copper around four
zen cents pound it is quite reasonable expect an in
'rease in the dividend three hence. for Copper
Range earnings since the fifty dividend rate was na
'urated have shown substantial Improvement
The forthcoming ieport said win be on the
whole favorable document indicating decided i'm
'rovement in the Trimountain branch and satisfactory
onditions at both the Champion Baltic branches
SOUTH LIVE OAK
The organization of the South Live Oak Development
company has been perfected subscription books
uicky taken have been made TO dispose
considerable block of the New York Chicago
Milwaukee and the Country.
The company is organized with n capitalization Of 5ooVV
hares of value of $40: 10000 will be SOLD ~
per share subject the remaining ss of the
aance 10000 shares will DE paid for the option
nd 10000 shares will be unissued in the treasury
The companys main office will be in Milwaukee, '"o
ome of its President George Lonsorf prominent cap
alst of that city. Linwood d. Mcclure will be vice.