The Calumet news., 1912-02-17
By u. A. MINNEAp


amounted TO 5s14O tons. 244O tons as o
pared with the previous statement. The foreign vis,,
supply in pounds is lOs2so.ooO pounds
i The United States surplus. according to the ,eo,
published Producers statistics amounts TO go 2sooo
pounds. making the total surplus l72 5oooo,
pounds This is equal less than months produco,
I and borders closely famine figures
u That o have n fifteen cent metal marie. ,,
the next thirty days certain for the r,
ruary Producers figures published early in Ara,o
promises to show further curailment of the surpns r.
/ this country.
II HANCOCK
i Developments at No. shaft Hancock are belDc
\ watched closely. As yet Pewabc lode has nor
been cut, but the announcement of development q,
momentarily expected shaft is about sa25 feet o
botomed in trap Sinking In months has been 90
ing forward at remarkable going down A.
the rate of 80 feet per When the Pewabc ,od
is reached undoubtedly there be lively marker e
Hancock shares. II is likely that sharp advance viii
bring about considerably profit taking
| SOUTH RANGE PROPERTIES
The survey for railroad the selected for
the North Lake shaft been completed and wor,
VIII be started possible on the construction
of the line Ground for the shaft broken early
in the coming Spring. North Lake has ample funds 70
carry extensive Developments
Indiana is cutting the level preparatory
10 doing considerable The shaft Is down e.o
feet
Lake will probably begin rock shipments until abou
the first OF June The desire to en-
ter the ranks of the producers Lake is in pos
ton to maintain regularly shipments are likely
to to the Trimounain mill said TO be opening
up some rich ground the eighth Its shaft
is down to the ninth level Lake been do
ing much makewse of late. holders awaiting def
mite announcement of production. believed that tho
company has ample funds carry until a self sus
tanning basis.
FRANKLIN
Franklin shareholders may shortly participate in mel
cutting. along this will proceed is i'm
possible to state but 1t is negotiations along
this line underway. Franklin Of land
detached from its principal holdings amount fully
400 believed be within the eastern
sandstone. In conjunction the holdings OF
the St Marys Land this excellent
speculative possibilities.
BY of giving Franklin shareholders melon it is
quite possible this property lying east Of
Its main holdings may be set off and either with the
Marys property, or alone company may formed
In the event that this Franklin sharehod-
ers would probably be given new
pany free purely nominal figure. The new COM
pany would operate independently Something definite
the subject may be expected course of
lew weeks.
Franklin is now shipping average tons
daily One head is stamping rock continually
second head is utilized part time The management
not expect to maintain the high results obtained
initial after operations resumed but
Of at least Is pounds copper
he able to show fair earnings There talk
of Franklin calling assessment, told b.
one In position TO know that unless something unfore
such a call will not be made
Production will be gradually increased until rock ship
ments exceed 1000 daily rock going
the mill now is of very good grade Developments at
the 32nd level both north and south opened some
remarkably rich stamp rock. From a standpoint
Franklin has been giving good ITSELF and
with the support coming general public in
stocks will show sharp advance
SOUTH LIVE OAK
The organization the South Live Oak Development
company has been completed along the lines indicated in
our Mining Letter of Feb companys office
will be in Milwaukee, some prominent financial
have been interested in property activity de-
veopmens in Southwestern Miami during past week
brought inquiry for South Live The subscription
books Will close without notice For those who desire 10
become Interested In South Live Oak. will pleased
to arrange for stock subscriptions
MINING NOTES
The Homestake Mining company declared the regular
monthly dividend of fifty cents share payable Feb 26h
Books close Feb 20th e+.
Nipssines output in January 100000 sill
yer having value of $4,000 The in the
price of silver not only to Npissing to
all other reducing properties in the Cobalt camp.
Houghton Copper is drifting and dur
ing the past few days it that developments
have been attended with favorable results Some
nouncement on the plans financing this
pany is expected in the very near future.
Tonopah Extension coming in for considerable atten.
tion because of the possibility company enter
Tho a.l,.