The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-01-27

ery are said 10 be gratifying During months
OF September October and November shipments aver
aged close to 400 tons day with profit Of $40
per ton December January figures will much bet
terment the shipments averaging 500 tons profits
close to $3.50 per month This ore is go
ing to the Basin mill Butte Il Superior reduc.
ton works win probably be completed May 5 win
be capable of treating $50 daily and will show
material saving to Butte Superior only in freight
charges but also in smelling.
NORTH BUTTE
Further Of North Butte stock are
in evidence The stock made to appear weak,
though it is noted that show any ma
terial recessions. excellent buying is
The quarterly report to which we referred in our min.
ing review last Saturday the whole regarded as
very satisfactory statement developments on the
Snowfall vein extremely gratifying and leads to tho
opinion that had developments Edith May
veins been satisfactory the SNOWFALL stock
holders of the very pleased with
their property However. apparently alone
attached to developments which will on the Edith
May and Jessie $500 and $500 levels If az
these levels the question disclose values
equal to those the upper workings it will
mean North Butte and the stock should advance
very readily
The company has been put large expense in sink
ing and developing depth and when consideration is
given to the fact that with extraordinary outlay
North Butte continues TO maintain regular quarterly
bursements the property appears and more
favorable light 1t Butte has been sub
jected to vicious market many share
holders have been frightened selling stock at
considerable loss but hardly appears time
sell the stock when such developments
pending The will decline much even IL de-
veopments the $500 and $500 up to ex-
pectauons The market has unfavorable news
IL work discoses high grade say that
North Rutta
be reached within the next two three
time both levels while vein will be en-
countered in about that time.
INSPIRATION
The time for deposns Inspiration Oak shares
for exchange expires Monday January Already large
holdings exchange and the sue
cess of the consolidation Of the two properties
There will also be a good for new Inspira-
ton Consolidated bonds. These interest
at the OF six be offered TO Inspra-
ton Consolidated shareholders the close or
business February The several at
uacve features; the bonds will at s25 at
any time thus offering speculative invest
ent possibilities Payments bonds have been
so arranged as to period Of eighteen monhs
nrs payment of $50 will fall due March II. 1912
ond September l. 1912; the l. 1913 and the
final payment of $50 not be due until September
1913 is rather interesting price quoted for
convertible bonds other copper mining COM
panes the quotations from I'll for Ray Consodat
ed 6s for Miami SIS
Inspiration Consolidated been listed on the
Boston stock exchange and the New York curb
SOUTH HEcLA
South Hecla has issued notice assessment of sx
share payable February GOTH and the sale of de
linquent stock will take place 2ist. Accompany
ing the notice issued financial state
ment and report for the year ending December 81 1911
South Hecla has outstanding 221oOO shares OF par
value of 81 each The financial the com
pany to be handicapped with Indebtedness approx
mately $4,000 1t proposed Immediately resume op
erations the The report two
test shipments during the year showing
net proceeds Of si195 per shipment ana
S1791 ton from the other shipment
The report following further nforma
ton on the property:
These shipments made for the purpose OF
testing the veins shipments wouI
have been made, and work would have
been done. but in February. 1911 company
into contract for the transfer of all its property
property interests in exchange
capital of corporation with a capital stock OF
divided Of the par value OF
$500 EACH and when said corporation shall have ac
quired all of the property property
City Rocks Mining company. Utah corporation
the property and property Grizzly Minns
company Wyoming corporation. exchange for
shares Of the capital stock said corporation the
aggregate, and when said corporation shall
treasury 100000
it's stock. then South HecIa Mining company would
hereupon its property the said corporation
and otherwise. May. 1911, If said new
corporation would organized and per
contract believing ssil
new corporation would organized and financed they