The Calumet news., 1912-06-01
(sY J. A. MlNNEAR q co.,

will be no change in the rate
Earnings the month April in the
history OF the being approximately s1S5OOO.
with further price of copper obtained
in May expected that during the month past
ings viii equal those preceding month.
While present earnings sufficient make possible
an dividend shareholders the
directors Will probably the wisdom OF providing the
company with comfortable surplus, and the only
this be accomplished by maintaining the dividend
| at the which established when the initial dis
| bursement made.
There is considerable Greene Consolidated sti
outstanding and this company paid relatively
larger dividend than did Greene cananea, OF the
owners of the old holding pre-
MUM. It is explained Consolidated paid a
larger dividend simply provide expenses
Incurred by Greene Cananea but that in the future
nients will be the established by the exchange
of Greene Consolidated for Cananea
Greene Cananea has yet received sixteen
for its Like all eectroytie producers 1t
three months behind In prices obtained for its output
The copper by company on
basis of l5H per pound.
We in position that in all probability
Greene Cananeas capitalization win changed and the
stock issue will probably reduced
to 100000 shares With the lower capitalization Greene
Cananea shares will naturally higher and will In.
crease Its collateral and make the
more satisfactory market
NORTH BUTTE
When North Butte directors this month dvi-
dend action is hardly likely that they will the
dividend requirements ore reserves are mater
tally increased should shareholders look for larger
dend.
North Butte doing interesting development work
in its north territory. the 24OO 1900 foot
levels aterals being extended Snowfall
vein and It is expected this will reached in
about three months will possible to rapidly
increase The Snowfall vein upper
levels has proved valuable to North Butte
equalng the richness of the Edith May in the of
the existence IL this rich
in the lower levels 1t has been in the workings
will add materially to the value North
No drifting is being the 1900 or 2sOo levels to
reach the Edith May Jessie odes impossible
this work at the time Spectator shaft
cannot handle the large amount of which this work
would require.
oNEco
oneco directors will probably assessment
of 81 during present month. There
are outstanding 10000 shares of Oneco stock that the
will provide company $4,000 when
fully paid and this should be thoroughly
plore the property and beyond any doubt
whether oneco has the making profitable copper
producer.
The station completed at the 12th level and
greatly encouraged the showing ven as
depth attained enrichment increased (;
The assessment should have depressing the
stock on the contrary will probably stimulate activity
II will indicate that the management confidence
enough in the property the expenditure
ditlonal money in developing IL.
kEWEENAW
Directors of Keweenaw Copper will probably the
latter part Of the present consider the sale OF
timber its extensive holdings 1t has been es-
tmated that the timber has a value OF approximately
S35OOOO. The sale OF portion of would pro-
vide Keweenaw with funds sufficient exploratory
operations and it is quite probable this work will
started before the is over.
ISLE RoYALE
The arguments in the Isle Royae and Tamarack in
junction proceedings win be heard at Marquette next
week. and Judge Sessions will his decision in
the case at the earliest possible decision win
important plans which being the better
ment of this property, and those who
mony are confident OF decision upholdng present
In every detail.
In the that decision favorable Isle Royale
win at increased production II Is
interesting to that during the year 19I Royale
produced about 100000 pounds of copper The output
for 1912 will probably somewhat in excess of this
figure depending, of of the ar
rangements for additional milling facilities Efforts win
be made TO bring the production up at least
pounds Assuming that the company able to produce
this copper at the cost in 1911 which was os
cents per pound and is able to sell this
age price of i6 pound earnings FOR the year
will be at the of sSo 10000 shares OF stock
outstanding
Isle Royale great possibilities in It's extensive
property holdings which 1920 acres No shat,
which has been the most prolific producer is now down
the about 1900 feet deep No sna 10 dow,