The Calumet news., 1912-06-22

with any the neighboring formations Ia oo,s
| sible .-'s-- '-.'.s-' - '09'
fuf'her WORK was done on the East on the eth
anu o'h horth levels When drifting the 9Th
level hrs the vein lost 800 feet I'm from ~,
shaft The continuation of the was found during tho
past year by short to the west but II was -
poer that work stopped On the 9Th level also Tho
East lode had been opened previously by a crosscp,
D'iuns was started here and 100 feet work on tho
southside showed ground of fair grade OF 400 feet of
work on the north side feet were good
Sinking the shaft below the sth level was ~
nenced in the summer. present the bottom Of o.,
shaft is 7S feet below the 9th level Hoistng from this
shaft begun Feb Isl
MOHAWK
Directors Of the Mohawk Mining company will meo,
within the next two weeks action will be taken on
The semi annual dividend. That there will be an in
crease goes without saying butiust amount the
directors will announce is impossible forecast accurate
y but the opinion that 1t will be at least 80
per share and possibly much $3.50 share The
expected increase in the dividend responsible largely for
the recent advance in the selling price the stock
During the six months ending June st 1t is conser
vativey estimated that Mohawk earned SO per share
While 1t will be called expend considerable
amount Of money for the equipment OF shaft the
company had balance of at the close of the
year amounting to s5sOsso. shaft could be
easily equipped without reducing its surplus too low
Mohawk is producing a the rate of a trie better
than 100000 pounds copper per month and due
to the economies and betterments. should producing
its for not pound against an
average price in 1911 of lo3s9 a pound aver
age price obtained for during the six months
of 1919 will be close pound so that
profit the first months of over five cents
a pound is quite certain.
| SUPERIOR BONANZA
Some rather interesting on Superior Bonanza
is contained in the Greene Consoli-
dated Copper company. 1t reads follows:
In the report OF the General Manager Cananca
Consolidated Copper company. A.. made of
the purchase of four-hfths interest in Superior
Bonanza property located Imurs Sonora. Mexico
While this transaction taken up during 1911 it
not consumated until January of this year
| The terms which this purchase was that
the Cananea Consolidated Copper s. A. should
advance the approximately $4,000 to pay off their
indebtedness and to develop the property
vance. the Cananea Consolidated Copper company s. A.,
received fourhfths of the capital Superior
bonanza Mining company all profits until
such advances repaid
| The companys engineers estimate that the
the ore blocked out is than enough
advanced which will company owning four
hfths interest in this property without costv
| MIAMI
Miami directors will action within the
next two or three weeks, and il would all
prsns dividend increased from fifty to seventy
five cents share The company earning at the
rate of 81 per share has ample working
ta and with continuing present prices
be able to further increase earning power by
| son of increased output. t'7na
II Is estimated that during the month OF May.
| II is estimated that during the May.
earnings were $4,000. The produced 20OOOO
pounds Of during the month highest product
so far made in any single month. n \ ", :. as
We have special circular published on Miami which
we shall be pleased send those interested in
this ISSUE zg{t &efsi .#,.
NORTH BUTTE -
North Butte directors announced sn Increased dividend
the rate being fifty cents paid pre-
vious The dividend payable July 2oth
holders OF record July 9Th With this distribution North
Butte will have paid to share organiza
tion total of SIS share The dividend
thing of surprise to many stockholders had been
lead to believe that forty
cents rate for the present quarter the large earnings
brought about the copper made the
increased dividend possible despite stand
the directors have taken the North Butte af
fairs 20 @
MINING NOTES
Quincy Mining company week sold 100000 pounds
of copper 17ss cents per pound
Alaska is producing the or about s5oooooo
pounds of copper per annum fsty
An assessment of 81 a To- be called Ohio
Copper stock. and the company reorganized
winona will increase production just adj
ditional miners ground workers be
obtained.
We told that Mass will be able 10 resume produc-
cn week. railroad trestles having repaired
making shipping to the mill possible.
Eighteen before the close OF the month