The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-10-14

call.
DOW ISSUES
Considerable activity followed by higher prices
noted in the ca.ed past week. 1t is
quite apparent radical action been by
members Boston exchange price Of
| these securities. o least support them
for the purpose of distribution later date or at d
ma teriay higher level prices
\ meeting of the representatives. of forty five Boston
brokers held Tuesday of this week. at which time a
committee appointed to confer with President Ed
wards in a change of officers directors. II
is reported however that President Edwards will be
in his capacity his intimate knowledge
OF properties is a valuable
by brokerage interests
the purpose Of starting civil action against those who
held be jointly responsible with Dow for the funds Of
the different companies and to place the financial loss
the shoulders of these to whom 1t belongs. in
nocent stockholders where it Hence,
there is possibility of the loss of these companies
not being large announced The advance in
these issues the past should
sets of S r. Dow considerably.
reported the East yesterday that the
United States Smelling Refining and Mining Co. is to be
come interested Franklin Indiana they
be represented on the boards.
These people already indirectly interested the
district being closely affiliated with the Naumkeag hoata
ton OF a year From all learn, there is un-
doubedy considerable color to the reports it would
further if they looking with envy proper
Superior This news is being very
favorably received the Lake and certainly looks
promising Lake Superior to have such
people these interested.
GRANNY
While CRANKY has had material advance from low
to have warranted according
statements made at the they earning
a the present about IS per share per annum
There will be meeting of the Board of Directors n
November at which time they will decide plan of
financing the Hidden Creek property to take UP
the dividend question
While the annual statement for the year ending 80
1912 shows slight deficit Cor the years operations nearly
100000 charged off of the stocks
and held by the company, 1uthe,
that these stocks bonds being carried
at market price as compared with the in the
previous The plant also closed down for
the drst four months of this year owing miners
strike end the expense of getting was pro.
hibitive.
While time this considered serious ha ndca,,
has since proven as at that time metal
selling around 1914 with cents eav.
ing them little margin of profit though rapid de-
pletion of
bodnes been developed during the mas,
year at the old property However the previously
bodies have been extended ore reserve
stands at about the it a year previous
Work at the Hidden Creek property has progressed
steadily and upwards 100000 tons of 22% ore are
actually developed The reserve of the Phoenix property
is placed at about 100000 of nv ore Two hum
dred thousand dollars expended for selter dur
ing the past and the total investment OF the Hidden
Creek property. which includes property payments and
expenses. now stands $4,000
IT is estimated 1t will take additional expenditure to
the extent of million half to further eouin
and develop the Hidden Geek property, for the
purpose of financing this that meeting will be held
In November President Nichols who elected TO take
the place of former President Luther fvors an issue
convertible bonds that would allow them mmediat.
resumption OF dividends while II is understood some OF
the directors In favor increase of the can,,
stock of $4,000 shares to be sold pro rata TO
1t is officially stated that present earnings are better
100000 per month The cost per last year was n
tre IL However II is expected this cos, ,,
Continued -tom Page Seven.