The Calumet news., 1912-08-27

The recent strikes the further opening up Oh
the Snowfall vein the 24OO level This VEN Is con-
deed one Of the the property at the present time
az its contents show the highest values The AdronoacA
vein is also showing up well the 2oO level 20 IT. wide
ayefaging better than 40.
Anyone who will time to peruse the annual ana
oparterv reports we think better satisfied with
his holdings in this Figuring last years pro-
duction with sxtyone cents an ounce TINS Item
alone will show earnings for the year OF aoout
500 ooo For the months of this year the COM
pany received OF 1873 cents Tor their copper
or rs cents than last years average prscucany
doubling their earnings On their copper product We
figure North Butte is earning now better 'ha 'i' per
share.
CHIEF CONSOLIDATED
Net earnings for July $4,000 according to official
That dividend will be declared TINS year
seems most now. though management refuses 20
make any emphatic statements 1t will depend on earn
ngs however Fitch is opening this property IN
Lake Superior style; with several months openings
ahead. and everything is looking promising
Figuring $4,000 month it is equiva-
lent To a little better than the outstanding
ST. sS4 shares August they had in the treasury 6lS4
COO
The market for this shown decided i'm
provement past week and considering the little float
ing supply surprised to it sell much
higher For priced it offers exceptional oppor-
RAY CONSOLIDATED
The July production was practically the June
or 3144OOO pounds far this issue has failed to ma
teray reflect advance in metal as its low
selling price year $lsls We are told that un-
doubtedy in Chino will spend itself In Ray
and it il it should do better marketwise.
The quarterly for 1912 shows net earnings
of s4s1OOO with only 6Ogo of it's intended milling
facilities available This is on outstanding shares of l.
512574 We never have had much enthusiasm for the
porphyry properties though looking for genera
| BOOM they bound to participate
In casually glancing quarterly report we
y pound was charged against cost
Of copper fund the extingushment of the
prepaid development and that the report further
states that the selling price cent pound
higher The given allow for eventually bring
ing their inventory price of unsod down to 12h
just such things these which are mislead-
ing to the stockholders methods of bookkeeping
used by the mining companies do not allow
development accounts They offer too
many possibilities for Disgusting the real conditions
Another interesting of the report is the state
ment that while sections of the Hayden plant were
available for operation only necessary to four
of them to the tonnage produced from the
mine They have the sixth section ready and have
commenced the seventh and necessarily
the tonnage will rapidly in the next
six months than it has in the past
: CORTEZ ASSOCIATED MINES
The report of operations this property from Jan
1910 to Jan. 1912 issued. It shows cash and
cash asets of over 100000 Operating for the
year were ss5 900 1920 development work, in
cluding sinking shaft wines tunneng crosscuttng and
| drifting a a of Sh36 foot American currency
This was made possible by fact that labor
was obtanable at a cents day An average
of 24s men were employed the year. Developments
have very promising and the question of railroad
facilities gradually assuming definite shape Advantage
taken unsettled condition politically in Mex
leo to acquire additional lands Some Of the lands
cured actually in operation at the time and have
been worked continuously since the time of the
early Spanards The total has been increased
through these purchases by location from 2,SO7
acres railroad is being built into this section; also
application has been made to the Mexican government
to utilize the water power the Moctezuma River.
1t would with this and with the
ising results obtained development Cor
tez has great possibilities of developing valuable
mines
outstanding shares OF 275,OOO and practical
ly fifty the treasury the of the
lands s35 per the present market price
OF the stock.
| SOUTHWESTERN MIAMI
| Commercial in No. hole at depth of $40 feet
the signal for two point advance in this issue
| erday. Chalocite began to make it's appearance
depth of 7g5 improved steadily with depth.
I get grounds the Of assess
| ment Company ample funds take its de-
veiopment as planned for months. News from
No. holes which being rapidly driven can
be expected at time.
j MINING NOTES
i ojibway employing about They meet
ing with fairly good in opening the Kearsarse