The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-03-30
OLD COLONY AND MAyFlowEs

-Four diamond drills will be used in exploratory
next week the properties Of Maower and Old Colony
Two outfits viii be operated by each company second
drill will probably be in commission Old Colony today
boring No. IA hole. No Is \ hole has yet COM
pleted. 1t is temporarily stopped being soft ground
requiring cementng
Mayiower Will No. 10 drill hole next week with the
outfit about northeast of No. Is hole and
Ibout 100 feet outcrop shouu reach the
recently discovered veins about after starting
No. is drill about 500 feet deep yesterday and will
take at least another three before important
suits need be expected
KEwEENAw COPPER
Directors OF Keweenaw Copper company been au-
horized by shareholders dispose timber on its
property 1t is not likely that anything toward
the sale of this timber until May the
directors will be able to attend meeting estimated
that the timber alone Keweenaws property has value
of 100000 at least When this timber sold funds will
be available for the energetic campaign
Of exploration and DEVELOPMENT. is hoped to resume
work before the close of the coming summer.
VICTORIA
phenomenal enrichment the 22OO level of Victoria
Is reported and work at this lateral is being vgor
ously The three levels above the yet
oped and 1t is believed that the grade will
disclosed when undertaken points. No
shaft better than the grade of being
Vcoped PRODUCTION March should show decided in
similar periods company has little
the way of forward to this year and
profit of $1,000 mining operations 1911
with 1874 earnings result
from production this year very attractive
around present prices. although It will probably a.
very active issue.
AHMEEk
Directors of Ahmeek this week and announced a
quarterly dividend of 81 share increase of 81 over
the amount declared three months of in
creased earnings it generally expected that Ahmee
would pay 81 this quarter II is estimated that the
pany earning the of better than s22 per
share and will be able equip Nos. and shafts of
surplus earnings at the rate of dividends
The shortly be listed the Boston stock
change
elRoux
Renewed interest Groux largely 10 the fact
that the will begin production within the next
thirty 1t is proposed ship 800 TO 1900 tons of
daily, management expects able pro-
luce copper at more than ten pound.
Developments been very satisfactory of late. For
past Groux has been devotng all of its eff
to opening up large bodies that when
duction be maintained regularly 1t is
quite likely that shipments of low grade will be made
to steptoe while the high grade will
go direct the smeter.
MOHAWK
Mohawk earned $4,000 than dividend re-
quiremens Reduction in the of production quite
noticeable 1911. Mohawk produced its at cost
pound against 1895 cents in 1910 This
copper sold average price of 1858 cents per
pound The average recovery copper per rock
stamped was pounds compared with IA 90 pounds
year ago in the price of copper to its
present quotation of 1885 Mohawks production
for 1911 represent increase In earnings of $3.50
per share so that reasonable expect that when
dividend action again. there will be an
increase in the disbursement
In commenting the property Agent Smith gives the
following information:
"The general condition Of openings made during the
year was good opened tributary to
No shaft with good results north on the 18th and
ieth levels and south on 18th No in
der with excellent showing at all levels the 9th
To the 18th inclusive the north drifts somewhat below
the average of the entire mine. No follow
ed closely after No. ) and best results were
secured south at the Attn TO inclusive The north
drifts and tho sh south fair amount of cop
pe proying up some very good stopping ground Open
ngs little under the average of Nos ana
G. Drifts have been opened all levels from the
18th TO inclusive and the ground exposed has been
above the average throughout Drifts both north
and south from also those south Of No. have
showing. being considerable below the
Everything the mill is in satisfactory running order
and we stamping to full capacity. We suffered quite
seriously of time in January and February due
TO the low stage of water Superior During the
past summer intake channel has been deepened so
that at present eight ten feet OF water
its entire length anticipate further trouble from
this
Keeping in mind the Improvement in conditions UNDER
ground during the past feel justified in conclu
sion that our operations the present will give