The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-11-12


May Observation-Disclosures. lo''6S'SS'
June .....,... ..,--.........' 9'15f 10"
Total second quarter ......2SS72 O3S
July NEUTRALITY-SUSPICIOUS.. 'll'Ioo'ol'
August .............. 11,Sfl.i6s
September ................. 6Joo'l4f
Total third quarter 2s.966,92o
The average monthly production of
copper for the first quarter of 1872
amounted to S.HOq.S50 sccond quarter
9l5ZSi6. and for third quarter 9.9SS,-
go pounds.
President &. NJ. Mac'.oill anu Gem
crM Manager u. G. Jacklns says
During the quarter there was treated
al both plants total Cd i,ESi.527 tons
If ore. as conn AIRED with l,jO&.SS4 tons
for the previous quarter OF this ton
maze the Magma plant handled about
62r and the Arthur plant about $3.50.
The average assay of the ore milled
during the quarter was LA1f copper.
aa compared with l.i2Fa copper fer the
prcvioas quarter. The average cost
per pound Of net copper prcduce3 dur
ing the quarter, after making allow
ances for smelter deductiors and with
out crrditing miscellaneous income
was 7.7O7 cents, as compared with s.
- cents for the second quarter Of
'e12. If the net miscellaneous earn
in-s i'm Utah. including those from the
bingham & Garfield Railway. We're
credited To the cost Of operations, the
net cost per pound for tho quarter
would be 1017 cents.
Tho nnol results of the quarters OPP
srttions are ass follows:
Milling profit for quarter t2.539.5Si (
other incomes rents. etc. IN
Utah ..--.............,... 1852 I
Income from Nevada Cons. Cop
per Co divs. ....... ....... 77..1sS .
Total net profit for the GUAR
tar ....... ..............$ 2.926.i7o .
dividends paid ..-. ...... i,tS2.4l%
NrI surplus Tor The quarter S1..ii,c57
The above earnings are computed or
the basis of L. 62S cents per pound I.
for copper which is approximately one /.
cent less than the average net sales
price Tor the period At the close Of
the quarter. no copper due fer delivery Z
from the refinery remained unsold.
Mining.
There was removed d1rinr the per-
sd "a totol II i.4oS133 cable Yards Of
raYUiup. as compared with 1859 s4g
cubic Yards removed durine the second /
quarter Il f'l2. The decrease OF ISL .
81 cubic Yards was due To all worl,
~ tho mine having been interrupted
.r September on cunt Of labor dis I
flIisr.es
Milling.
THE Magma plant was in fun opera-
r..r a.-.r- far quarter antil CLOSED on
a.l.HHr of cessation Of ore shipment
from -l.e mines as result "f c!rcum-
-rsacDs hereafter explained The thir
-..-rf ard Tire last section of the Ar
.- r.1r wss started early in Sep
+s---.er ard ra'HIrr iu trc way II ~un
-.-r-.9,r rrirs Inz Zee bee done at either
- rr-sI-irg frs completion II tte
.-~.r-,- srrr-s ir the Coarse crushing
oil, -.s.rtrrrrta rar iH progress at both (
r 'eru a.fI~h eark is TOW nearly
Trio rarfrmplatsd extension Of our
,s4ua rt,-rr power plant 20 take care
.r ,-, -r..tH ~ our business has now
I., .rna urps-eaAr due 10 tEo acqu
...r.s, ~ the hydrn. Electric 2 ncratinc
T.aEts row in operation in the vicinity
-4if sake C.t. ard On ~. Boar
.,rer In ,'tah and Id.iho by strong in
'r-asts ahs viii construct sufficient
inter plants to enable the Utah Cop
psr rrnraHv 20 procure It's entire
power requirements from them. This
..8rrs ~ Dovor supply has not here
t-frr, bcrn available The principal
terms o. serve us the basis of a long
time cpntraot covering the company's|
entire power re- uiirements have boon
aaroed uUon AMI the board Of directors
have authorized the execution of such
contract The basis upon which
power viii hc purchasc1 is such that
tho cost 90 II viii 10 suhstan ally less
than heretofore. as produced rom orr
own steam lAant and tho conditions
md obligations Of the power cc'trqct
insure "A character Of service fully as
reliable and satisfactory as las pro-
,uled or could result from tho opera
tion cf the Mapna steam plant even if
ENLARGED TO meet orr full demands.
Strike Trouble.
The deficiency In tonnage and pro-
dLction fur the month of September
~ compared with the other months
or to quarter was due en.irrlv to
guspcn zion or operations resulting