The Calumet news., 1912-11-30
Continued From psoe Three,

Continued From Psoe Three.
should il be found That the north of Ojibvay
has became permanent. is very likely the same
condition will prevail Oibway with depth In fact all
development Ojbway s indicating that the broken
formation diminishing With depth giving way to more
defined ground
ToNoPAH-
Octobers net earnings of this were slightly
over keep the present dividend
rate of quarterly
Bullion to the value $sosooO shipped together
with which net profit of $780,
G5. earnings caused in part by the
burning IA sab-staton which compelled shut
down for three days.
\ great deal has been said about Tonopah acquiring
additional territory, official announcements have
been although hummer of properties being
amincd.
ToNoPAH BELMONT
The declaration of only regular dividend by this
company Disappointing extra dividend had been
expected by great many The October earnings were
Sl6i5oo and dividend requirements $i2500O monthly
While the Belmont mill built for 500 tons daily, $50
beiEe hanGled and the mill superintendent
expects TO put through about daily when it is
tuned up TO capacity will give practically per
share profit
This with considerable selling the past
the announcement tdat the mining company
in Circuit appeals started by the company
manufacturing filters, which the Belmont people
gtcat many their mill While this affect
Belmont financially the machines purchased under
may delay increased production until ar.
rangemcns be made with the patent owners new
machines installed.
ELM RIVER COPPER COMPANY
This recently sold to the Contract Copper
Company FOR $4,000 After paying legal and incidental
expenses there will he about $4,000 to distribute
holders, quidatng value to the stock of 19c per
share
The company legally dissolved and there ons
mail checks stockholders to wind up its
property comprised acres in the
recognized mineral belt the Range and was sold
ut practically $3.50 price considerably
low what asked lands without any mineral
possibilities
About 10000 shares of total 100000 have been
exchanged for Contact during past two years SO IS
of the purchase price will return the treasury
and leave cash payment $4,000 to go to the
Elm River stockholders who satisfied with the
proposition.
The the property is now abou, the same as
ton of being assessablc exchange of Elm River and
the sale of additional stock have netted the Contact
Copper Company about $4,000 the major portion which
has been spent in diamond drill operations 500
southeast of the Elm River property and are held
under option the Contact company capitalization
o Ooc' s l'oVoo shaes of which lllOSi shares have
been issued
SUPERIOR & BOSTON
According official adNices, there has been decided
Improvement in the grade Of the and for
the last 80 the drift showing considerable high
grade glance associated with carbonate According
to the latest information they have $50 on this
level with the face of the drift still in
The IL level drift continues show suphGe though th,I
vein is not yet commercial and while they have some
distance before picking the shoot of ore
there has been constant Improvement the showing
During the past week, work has been resumed on the
9Th level drift east towards the Sth body II
Is estimated this level drift viii! only a comparative
k short distance this body, drift wa
advanced approximately 500 feet east when work
vas discontinued several years !,
he annual meetnn Will LIE held Mondax aoIll.-- |