The Calumet news., 1912-09-21

operation and the ordinary selection an averag 80
about IL pounds refined copper to the ton is heinz :,
tanned Furthermore is estimated they have s nroson
sufficient rock reserve or ground up to furnish
this tonnage for at least years This proper,, - .
been In rut for such length OF time that investors a.
not realize its possibilities. 1t has always been ro -
handicapped with insufficient capital 10 carry on 40
velopment work properly, undoubtedly the manay.
ment will take advantage the present opporuny o.
create a large surplus. sat-s
The Butler and Evergreen odes have been showing ,h
best results and of the years rock reserve Is nm
the Butler However. 1t should be borne in mind that
Mass has known amygdaloid veins traversnp q.
property exclusive the lodes being developed on b
Lake and adjacent properties are closer to b
eastern sandstone The recent developments the prop
erty have that the Butler Evergreen odes ar.
less bunchy than first supposed and II NAV no
tho other lodes will also found regular al
this depth where previously mined
The companys equipment is quite sufficient 10 handle
double the present capacity and the construction costs
from should be practically nil with the excep-
tion of the mill The capacity OF No. head very
little outlay increased 4OSS as was done with No 1,
ToNoPAH MINING
This issue shown a little weakness during the past
week. though there is nothing account for
1T unless it holders anticipating a declin.
| in the shares similar to tie Goldneld. However
has shown of tendency expand than Godhed
In fact they very nearly ssOOooOo Of stocks
bonds only stocks mining companies but also
railroad companies The quarterly statement
showed the additional purchase of little $4,000
worth bonds.
The quarterly dividend meeting will held early part
week. and no change previous dis
bursement expected. may action Of the
market might indicate a temporary reduction
At the present of disbursements forty cents
quarterly Tonopah these prices
little 25q, considering the
expansion policy the company its large assets
Tonopah looks quite attractive.
The profits August little less than $780,
600 total of 1a29 tons of mlled and showed
average s177S per ton There also a.
tons concentrates shipped which showed valu-
of $1,000
We are in receipt of late advces. stating that the
reaction Tonopah looked like shakeout manipula.
ton further understand that the officials of tn.
company any likelihood of decrease in the
dividends rate this quarter.
UTAH COPPER
owing to the labor difficulties the complete shut
Gown in the Bingham district receiving
siderable attention. has withstood the
selling which follows strike wonderfully, and II
it should break couple of points further 1t will GER
tainy attractive undoubtedly the labor troubles
will be OF short duration,
The August production for Utah Copper II $4,000
rounds 1iSOOoOOO pounds year This
is equivalent months total imports and produc-
on in the United States II therefore. be easily
seen what any lengthy down Bingham district
viii mean the present copper surplus which is only
1879 monthly production by the
Producers association
Using months production for basis Utah Copper
earning on 17X slSOOOOOO per annum
which is equivalent TO $3.50 share. This is allow
ing for cost of little eight cents pound. which
very conservative also takes into consideration the
advance in The earnings of this are
further increased practically 81 in dividends from hold
ngs Nevada Consolidated Hence, it be easily
that satments that Utah is earning SO share
not far from right
1t has been officially stated the developed and par
TALLY developed So15ooooo which at the
present rate of treatment 100000 tons per day) will give
this property life of fifty without finding any
bodies
Critics continue argue that real cost pound
eight is only matter of bookkeeping methods
the charge to deferred stripping account IS
However, the management states they have oeeh
ultra conservative to this distribution of h'
stripping costs. further have given out the hsures
prove assertion II remains to be seen lust no"
conservative has been, although at best
will only change the cost of production fraction ot
a cent.
MINING NOTES
The house at No shaft Of the North Kearssrso
Osceola Consolidated is being remoueeu
When completed 1t will be of the most moue'"
and labor saving houses in the Lake Superior o
trict.
Preliminary work is being carried rapidly as pos
sibe resumption of work at No shaft oil tn'
old branch of the osceola Consolidated The shipments
shaft. which reopened several months ago
being steadily increased
Greene Cananea and Miami will falling on IN