The Calumet news., 1912-05-25
CONSOLIDATED MERcUR


toned.
CONSOLIDATED MERcUR
Consolidated Mercur directors preparing to end the
companys existence. meeting whereby this action will
possible been called for July and then directors
viii be given the power to sell the property and equip
n,ent shareholders attention is called to
the fact that ore reserves practically exhausted and
that while property have been made
they have unsuccessful dividend OF three cents
per payable July 10 sharehold
of record June TO-
MINING NOTES
Copper sold for l6% cents per pound this week.
Houghton Copper will sink Wine the West lode
20 further explore this Drifting the vein for about
900 feet disclosed a very promising formation
AS yet no made concerning plans
for the resumption of development work by Bohemia
is expected during the course Of
the present summer
Hancock Consolidated shaft is about $500 feet
deep Stringers of amygdalod showing fine have
in sinking indicating the proximity Of
what is expected prove the Pewabic lode.
The necessity for further financing Calumet Montana
has made 1t is said that efforts
are being to interest Chicago Minneapolis capitalists in
the organization with a fair chance of
Calumet & Arizona directors scheduled to meet in
Calumet wednesday owing illness and absence OF
the directors necessary to postpone the
meeting time has been set for the dividend action
1t looks as though some announcement would be made
possibly concerning the plan for the dissolu-
ton of Amagamaed and the distribution OF the COM
panys assets which consists largely of Anaconda shares
Ahmeek directors will meet dividend action, and
things would be at all surprising if the
dividend was again increased this time to Sc share
The stock is now quoted highest price record $315
bid
II is quite confidently expected that the next Cop
per Producers will show substantial decrease
in the surplus Production for May has been about
normal both domestic well foreign deliveries have
been very heavy
AS yet there important developments In
drilling in No diamond drill hole at Mayiower. No Ii
hole at this week cut narrow amygdaiod
vein well charged copper the Mayhower lode has
not been reached
shattucx Arizona has purchased srelter site of $50
acres at Douglas Arz, will very erect plant
capable of treating day The site is
adjoining the Calumet & Arizona smelter on the south
and Copper Queen plant the west
II Is understood Copper Range viii explore the
superior and the West the Atlantic property
now controlled by Copper Range The West lode offers
great promise it's remarkable richness shown
at superior and Houghton
We look for an announcement the Shannon dividend
within the next two weeks. The dividend will
be quarterly and at least 25 per possibly
fifty cents the smaller amount is the most gen.
orally expected earning sxteen-cent cop
per close to So per year.
Nevada Consolidated directors yesterday announced the
quarterly dividend S cents putting at rest for the tim
being the rumors dividend would be increased i
Hfty cents Copper announced the quarterly divden
Of B cents no being made by that company eth
err Both and Nevada Consolidated earnings are suc
ms to make possible substantial increase