The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-10-28

spectators In these issues are gradually
giving away this demand, while
aggressive, is steadily clearing the floating
ply.
BUTTE ALEX SCOTT
a meeting Board Directors of the Butte
Alex Scott held in Duluth today. the
erly dividend fifty per declared pay
able November 25th stock Of record November 15th
The proposition TO take option the Monat property
turned down at this meeting II being the opinion OF
the Board that it bad policy this time to lay out
any Of their surplus venture risk is
great They further feel that Scott is position
TO stockholders the physical
conditions the property very promising
thor that they mining the entire width
Of the vein and have not been picking the
people believed
President received a telegram Manp-
stone the past which follows;
cut into four Of fine drift 14OO. Am
starting 10 from 1900 level"
LAKE SUPERIOR ARIZONA
The home office is in receipt a message the
American Smelling people stating they had reie both
plans OF options AT this writing, reasons have been
given whether they made any
counter propositions.
The rejection is surprise to local stockholders
terms secured by the management seemed to be
fair tot only the Lake Superior people bat
also 20 the Smelling cement.
What will be done with the property 8 a question
they are practically out Of funds The being
paid no funds be secured by unless
organization plan perfected. However they
600 shares in the treasury Property
of the Florence, Arz papers Phoenix S.
Eastern r. r. is surveying for spur Superior
If this materalizes it will a great to Lake
Super Tor Arizona. 1t would however, that these
shares should be worth STA this only equva-
lent to about $4,000 property equp-
ment
NORTH BUTTE
The quarterly statement development work sent
to shareholders this week is satisfactory document
though 1t fell fat with a number of the stockholders
they to think that the future Butte
ponds entirely the Edith May vein. This
however there several other veins. just
as much promise being valuable
May
Genc,a Manager Popes statement about the strike re-
Gently made the $500 level shows how a number OF
writer's jumping conclusions and in fact the man.
agement is not positive whether is
South Croesus While II has on the Gem
ground the characteristics very to Sorth
Croesus. 1t is further stated that joint
sected it showed ~ feet Of assayng better than
1t could be by statement that drifting both
east and west would be started a very while
to Mgr Pope's words as soon as the crosscu has
reached reasonable distance to the north.
While positive statements We're made in the report
we get IT from the best ore reserves
of North Butte have been past months
The Adirondack vein the 24OO level
~ in Increasing the reserves of A drift
level cf the Adirondack been advanced for Il
distance of 81 feet width of from - 90 %
feet with assay 416 copper and @ ounces
of silver 16 feet it. of the drift
still in better than the $500 level croscut
will cut this vein at depth should continue
TO show the values width could well be term
ed the twin May
All the mines in the Butte camp have gone through
just such period North coming out Of:
that s impoverished values veins
2,2oO feet depth followed better values from
depth of feet on.
The development the Superior property
which adjons several North claims the north,
should also add materially to the value Butte,
and all in ALL it ranks well up with copper
in the Country today.
Ia ROSE
Dividend checks No. II 10 the 12lA per
share payable stock of
the week. The accompanying the
dividend checks shows cash. transit ready
shipment, amounting $1.771666 This Increase Of
$4,000 the past quarter paying quarterly
dividend. estimated that at present prices
for silver. has per share
blocked together with surplus
is equivalent 81 per share qudating value
the present time. The possibilities opening up new
lodies very good; fact management
year has been only extracting sufficient
requirements devoting of the time
TO development work.
SUPERIOR BOSTON
TIE from the property this the
encouraging received for stockholders