The Calumet news., 1912-06-15
value The erosseut win he continued through the lode
after which drifting will proceed"

PRESIDENT Hubbard gives the following information.
During the year work almost excIusivelv
to No SHAFT this shaft being extended sai f.o, .
total depth OF 1888 feet. with crosscuts and ar,,,
amounting TO il5s feet No shaft was extended los ~
Il to total depth OF 1854 feet with isi feet OF c
cuts in the latter part of the year
On November first shipments began 10 the Tamarac,.
~ from all out three OF the Slopes and other openings
'nese three showing no copper In all OF rock wes
stamped the returns from which at the were est
! mated at 65s pounds of refined copper per ton NJ ~
After November 2is all copper far as practicabe
was retained a the mine and bv estimate an,o,os .
o. pounds per ton stamped bringing total produce nm
70 about 72s pounds ton rock with failing osse.
of about three pounds
! The mill product. reported from period to
period That for the ending November 2,s,
showed y much less amount of mass barrel work
than had been expected by the mine officials and =
total OF Sss pounds ton of Nov 2st and
Dec ist the mill product to be at abou
the rate ors pounds per ton which, with the mass aecu
muiaed during the period mine brought ths
tctai up to about 10 per The rock from which
'hs total came was not considered BY the manage
ment to be any better than that supplied during the pre-
! vous period"
About February first stamping discontinued and o,r
force was decreased from average of III men to an
average in February of GAS enough to operate five
| drills"
Under date Of June President Hubbard adds tho
following Information:
The product is 1864 pounds
superintendent Formis in wednesday ana re.
ports that the 1900 sl in copper ground and
showing fine rock
The 1000 level IS also good believe the ancient geoo.
eieal valley is widening foreshadowed in my report
and feel that anxiees about over and that ob-
way will make mine"
BUTTE -BALLAkIAvA
The annual Butte -Baaklava Copper com.
pany has been ssr ed and into detail con-
corning the physical the property The report
shows the have balance on hand of s53257
Mr. p H. Nelson. President company for years.
has resigned and in his place Friemuth has been
named
Dr. Walter Harvey prepared an exhaustive report
on the property and corroboraes that with fair
uaL Butte -Balaklava Will prove to be the
the in litigation Anaconda The work done
during the past year in the line development
strengthened this opinion materially
The report indicates that Balalava has num-
Der of promising other than those in li-
cation and that before close of the present year
substantial profit will derived from ore ship
ments
NORTH BUTTE
For taxation purposes, North submitted a satc-
ment of net profits for year ending June l. 1912
amounting to ssse212. the $40 share The
company is now paying dividends of 4oc per
quarter or sLsO obvious an increase
to SOC share can readily made but as we
mated In our mining letter recently an increase will
probably not be made until the meeting dividend
held dividend will be declared next two
three weeks and will likely 4Oc per share payable
July
MASS
Mass produced more copper last month than 1t did
many months past and also larger earnings
produced in May 100000 pounds refined copper
crease OF 10000 pounds previous month
Recent shipments have been at the 4Os
tons OF rock daily but during the past
been unable to any rock to its mif because of the
damage to trestle Keweenaw Bay. making II inn
possible for the railroad handy any shipments on
peed within another week. making IL possible
production.
ISLE RoYALE
Isle Royaie broke all records for its monthly produc-
ton with an output in May of pounds
which was 45 larger than period a year
The total mineral output for the five this
year was Sa2oooo pounds and 25oOo pounds
over year ago. A further increase production can
De expected before of the present year isle
scyae has for months shaping It's affairs
he sole purpose of increasing and
showing consequent lower per pound
lnl9l IT, cost 1885 per pound produce copper
II the present time II is believed oyae
ns 1t copper for at the a pound.
nat the copper produced far this sold
L an average price pound the companys earnings
or the hrst Ave months been 100000. or at
ate of s1ss share rate of earnings is main
viii show net profits share of Approximately AT
he close of the year 1911. the company had balance
& asets amounting to sis797s
The decisions, handed by both the Federal and