The Calumet news., 1912-06-10

to'ai was hrs-ciass and S2S the total was ss
class
Surplus ON operations s45slsA On addi,ion ., ,.,
somewhat over $4,000 expended on mine deve,on
An amount about equal was expended in WORKING ON, ~
tain economies in the smelter in making repairs ana
changes by which the general condition of the ni, =
greatly improved There s14s2ss expended for T.,
terest and S5lai7 for additions equipment eavns n
surplus for of s256e43.
Mine development consisted driving 1866 feet Of dr,t
and crosseu's AS result of this work a vein nro
viously unknown developed at point near tho r,h
ern border of the Murray placer. about midway be,v
the eastern and western Boundaries This vein Will
rather narrow averaging from to seven feet s .,
good grade The produced by stopping averaged
The vein on the 500 has drfted upon westward % M
boundary of the property For 200 feet this distance II
showed continuation of the rich body deveoned
ere Al the western end OF the property. crosscu re-
veas presence of large quantity of ore averaging h
tween 40 and 5F6 that previously unknown"
AMALcAMATED
Directors OF the Anaconda Copper company con,r, 81.
which is held by Amalsama;ed June 25th for nc
ton the quarterly dividend and It is confidently
ed that the dividend viii increased from fifty 10 seva
ty-hve cents per share. This increase make it pos
soe Tor Amagamated when next dividend action is taken
to further increase its quarterly disbursement
The annual Amagamated report for the year endne
April 3oth issued this week and was a very Salts
sur-
plus of $9i252oOO the 1911 report OF 80,
$4,000 Earnings during year were equivalent 70
si per share on the i5ssS7s shares outstanding
as compared with 1898 in the previous year
In commenting. President John d. Ryan gives the fol.
lowing information in the report:
Notwithstanding that the average price received for
copper delivered during the year was the lowest
since 1907 the Anaconda Mining Co. very satisfac-
tory showing and produced copper lower cost than
In rrta
rived from the consolidation properties effected in 1870
which realized however because OF the smaller
production the directors deemed make on ac-
count of the unsatisfactory condition market
during most OF the year. We glad to report that
metal market is greatly improved. and in view of the
increased consumption and the reduction in stocks
all over the world it safe to predict prosperity
copper trade that should increased profits for your
company for considerable period of time The properties
controlled by the company condition to mako
satisfactory production cost than ever be
OLD DOMINION
The quarterly dividend o Old Dominion company
of Maine. which is the generally traded n was in
creased from rs cents to 81 per dividend
be payable July goth to stockholders record June 18Th
This increased dividend made possible by larger dv
dends declared by United Globe and the old Dominion
most entirely by the Old Dominion Co. of Maine Old
Dominion of Maine present time is said to be earn
ing very close to Sc share that the dividend
announced can easily be maintained long copper
for 15c pound better.
FRANKLIN
FRANKLIN In May produced 100 mineral
est output of this years The company
is now employing 1926 about 200 of whom are miners
Production will be increased rapidly
i'm he
the first time in many months earned more than enough
to meet all development costs.
CALUMET & HEcLA
The strength in Calumet and subsidiary
this week due largely decision by Judge
sions denying the injunction by Godfrey NJ.
Hyams This decision handed down from the bench i'm
mediatey after the conclusion of the arguments the
case indicated the fact that the Hyams a
paratvely weak and greatly smplihed working
'f the plans for the milling arrangements the
Calumet & Hecla subsidiaries remains be
handed down only the decision by Judge Weiss 1ans'
ng Ia the Turner case and the preliminary hearing OF
his case was held month ago. expected that
he result will known any time
MINING NOTES
South has broken ground for the new shaft TO be
Junk this property.
Old Colony and Maynower have met with further diff
u'ties In drilling In drill the rod broke. while con-
iderable roaming necessary al No. Is Mayhower
The home Office Of Wolverine & Arizona received
Message from Bisbee TO the effect body had
een cut showing fourteen per copper silver
alues
An average price obtained eectroiytic copper for
lay as compiled by the Engineering Mining Journal
as 1925 cents per against pound
April.
Ray Consolidated attention due prob
bly, to the strength in Chino porphyry prop
rites. Ray has been a aggard In market for some