The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-03-18

copper contents OF rock stamped showed decrease n,
pounds Its copper produced at OF 1855 cant,
pound The net los from operations year amo,
ed TO sis3lss The company the close OF the ven, b,
balance of amounting ss5i24s In commen,n.
on conditions at the property. President Agassz savs
part:
"The financial condition OF the company no longer n
med OF mourning further loses in the past few years
and In order to reduce costs the felt II
essary abandon all openings November Since ,ho,
time the number of drills has been somewhat decrease
but slightly Increased production has been o..
cured. The results for November December shov .
cost of about IL pound hoped that with
the copper contents these be continual
but whether or not the margin of profit will again
making openings must be determined by future copd,
tons"
With the s2sOOOO Tamarack receive from the sale o,
two heads OF its stampmill build recrushing ,,
&c stamp sands which 1t is expected sinh.
stantal profit will be derived
VICTORIA
Supt Hooper the following nforma ton 10 the Fast,
ern office OF the Victoria Copper company:
'The 2Sd level is best drifts we have
had for The drift has through horse o,
trap and In the hanging but showing on the foot
side almost the entire distance driven drifts from
the No. shaft the drift is the copper almost
continuously. and there is some ground being
opened The drift copper at times but no
Ing very heavy, although 1t is good vein"
Isle Royale for 1911 showed profit si5e7SO and
closed the with balance assets amounting 70
sls7.s76 This showing was due largely to
the stamped and the very able management
which this property had during the year.
The total cost pound OF refined copper 1911 was
1886 cents against 1S4 in 1919 1904 cents in
1903. Not only 1t possible maintain production in
1911 equal that 1910 costs OF tae
over one cent pound. but during the period
total openings made in the shafts 1000
feet greater The brighter
with copper selling a pound Isle Royale
should be able show earnings close $500 share
Underground conditions the mine have shown a de.
cided Improvement and the believes that
Royae is warranted in making larger production with
consequent increased earnings
plan is being considered whereby increased stamp
ing facilities will provided Royale present
plant is taxed TO capacity 1t possible
It's equipment. TO purchase site
large expenditure and the proposition AL
lcuez, Centennial and Tamarack which would
Isle Royaes milling problems very satisfactorily
outlay of $4,000. by the o proposed
milling arrangement the Lake Milling. Smelling and Re-
hning company which stamps Anouez Centennial
at the present time will provide Isle Royale with
of two heads If required giving the all the ad
donal milling that may require for
years come.
In commenting underground conditions, President
Asassz states that the Isle Royae shown i'm
provemen; which is noticeable in the turn the
south
CALUMET & ARIZONA
The annual meeting Of Calumet Arizona shareholders
will be held In Bisbee April sth. No change in the
organization is expected Superior Pittsburg share
holders meeting will be held the The annual
reports OF both companies will probably the lat
ter part of next week and in each instance promises be
a very satisfactory document
The Calumet Arizona report should show the COM
to have balance assets in excess 100000
while Superior Pittsburg increased in
the year to close 100000. should be
bered however that the period when cop
per did not bring price OF much more than
2 cents pound and that with price of four
teen cents obtained from combined in excess OF
5ooooooo pounds per earnings show In
crease sufficient larger dividend disbursements
quite probable.
Physical developments at the two properties during the
year have been very satisfactory. Only recently the
1900 level from the Briggs lateral driven
toward the Junction shaft into not
extensive but indicating the bodies
a much greater depth
We think that the report should have favorable
effect on the selling price Of Calumet q Arizona
CENTENNIAL s<
Centennial produced 1911 493oO0 pounds of refined
copper at cost OF 1863 cents pound against an OUT
put Of almost the amount at 144s cents pound III
1910. 1t only by careful selection rock from u'
comparatively few Slopes operations in 1911 were
profitable
The management proposes larger production In 1919
he present price of is maintained Earnings TOT ~
year just passed seo45 Copper sold at an aver
age OF 1892 cents pound AT the close Of the year INC
company had balance of liabilities OF s54.o6 and Is
believed that this will be entirely wiped during TIC
PRESENT year and balance of shown with not mu
ficulty.