The Calumet news., 1912-06-22

payable August 18th to stockholders RECORD July
understood that dividends will be paid quarterly
long copper maintains It's present price. The COMPANY
is earning well in of present dividend re
been fully up to expectation
HANCOCK
1t is yet impossible positively state that Hancoc
has cut the Pewabc lode The hanging lode cut abou
two weeks ago. and showed a width four feet
What believed to be reached
after sinking eight feet narrow strip tra
encountered This was passed through and iates
reports are that the shaft is sinkin
in the lode again. carrying satisfactory values
The shaft is very nearly S7eo feet deep Two
cuts will intercept No. lode about August
l. S. & A.
1t is reported that L. A. directors negotatin
with prominent mining interest option
the property, and that official announcement tn
subject be expected within very short time. TIL
details the proposed deal being made publ
the directors do not desire to make any prematur
announcements.
1t is understood that interests. given the op
tcn, will Immediately start development work the
s. A. property. The Arizona & Eastern Raroa
is preparing preliminary survey for building
line Florence Superior. il this bull
win give admirable shipping facilities supero
& Arizona, well the Magma company which ad
joins it. Recent developments at the Magma said t
have been quite sensational lending strength the be
lief that the l. S A. property Is of great posi-
bilities This stock yesterday sold up SO share
LAKE ern
At the close of business April sOh, according the
report issued. Lake Copper company had bal
OF assets amounting ss752. II is expected tina
the company will able sufficient from presen
milling operations possible place the min
shareholders. present time. Lake is shippin
scarcely than of rock daily to the Balti
mill this will be increased very shortly.
In commenting Developments during the past year
President Paine in part says as follows;
Excellent has been made during the II
openings preparation regular production
The of development work done 1858 feet
which compares with total 1891 feet last year Th
installation all important equipment present
ternpiated has been completed and paid for
ITO connect the shaft and house with the rail
road was necessary part the old stock
pile avoid rehandlins. this rock with the
rock the through the old shaft i'm abou
equal proportions shipped the Baltic mill
stamped These shipments began in March, and have
continued the rate of nearly 300 tons day
The mill returns show recovery about 26 pounds
Of per rock mine being included
The mineral will run slightly above 500 ingot
These results the whole satisfactory. and may
be improved when all the rock shipped from mine
openings. the copper is included
We expect to increase output railroad
connection Is made with shaft and we hope to
produce 500 per day before end of the year."
General Manager c. X. Hitchcock, adds the following
interesting information concerning the property;
During the year the underground opening work was
pushed fast possible and resulted in than
doubling the openings already made In addition that
cutting slopes started all levels
down to the Sth for the purpose Of getting mine in
shape for producing.
During the and first part of 1871 drifting
followed the hanging wall closely possible because
the hanging wall is regular than the wall and
appeared to be better guide. But by the middle OF
1911 work the shaft raises certain that
driven showed that the copper is most likely to be
found the foot side ven drifts were
missing Of t. Therefore, drifts turned down
toward the foot wall with keeping near
it. In general results have been better since this change
For several months the work cutting copper
bearing portion of the vein to its full width preliminary
to ordinary stoping operations has been going AS
some sort Of picking and filling system required the
Baltic method OF dry wallng and filling being
tried ON te second south and the south short
slopes have been made ready by this method
but 1t is too early to with what success It can be
used with conditions
The direction taken by shown by the course
Of the most northerly drifts has been matter of ex-
IRENE interest While of these been car
ried forward fast possible entire year IL isl
still impossible 10 predict where the vein finally lead