The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-02-10
BY j. A. MINNEAR
e COMD NV


exceedingly well The has decided to s,ns
| a three compartment shaft early in the spring
They are earning at the present according TO autho
totive sources about 100000 monthly their 80 stam
head handling 800 tons per DAY.
No dividend has paid at which Time -.
stock sold high To- Early resumption of dividends
very likely and the a very strong position ana
win respond readily to any accumulation.
| RAY CONS. RAY CENTRAL
Announcement made the part OF this ,,,
that at meeting of the Board Directors OF the P
Consolidated it offer be presented -
the Ray Central Company acquisition of its pr
erty.
The basis for consolidation decided eight shares
Of Ray Central for Ray Consolidated. This wouo
take about $4,000 Ray to exchange
for the 100000 shares and s25OOOO outstanding or
the Ray Central and much the capitalization OF
Ray Consolidated is $4,000 shares which 139757 have
been issued It would necessitae capiai
izaon providing the deal is ratified Ray Central hold
ers
The consolidation of these properties the ogica,
from commercial standpoint the richest part
the Ray property, Globe Isabella
group acres. heart of the Raw
Consolidated body Then again. Ray Contra,
valuable surface rights which it understood
the Consolidated people endeavoring to secure
for time past.
j. Parke Claiming Ray Central proven
veopmcs under consulting proven
100000 additional averaging better than $40
The Consolidated company has proven amounting to
about SOOooOOO running little go They
handling 5000 day their
Hayden which capacity 10000 by
adding additional units.
SOUTHWESTERN MIAMI
No drill hole is reaching approximate depth Of 200
feet at this writing according Of Live
oaks ehurn drills it very likely encountered
in this No. hole before depth 1000 is reached
There has been steady accumulation going
and its speculative possibilities good At
present drilling, some results from No hole
peced by the latter of February early
The organization of the South Live Development
is bringing attention to Southwestern
Miami.
CHIEF CONSOLIDATED
Chief Consolidated year ending Decem,
Der 81 1911, with cash balance OF s22.2SO against
balance of $4,000 year ago in cash was
brought about through purchase additional mnns
property costing about $4,000 a hosting equip
ment at expenditure of $4,000
The profit of the year mining excluding acquisition
OF territory and equipment $4,000 Principal
ere shipments have been made from ground underlying
Eureka City and also lower workings a
depth of 1900 feet President Fitch expresses himself
expecting much larger better production
suing The the year 1911
made it necessary for them ship grade which
had been previously However we understand
that January net earnings extremely gratifying
mors having it running high $4,000 which is not
all unlikely.
HANCOCK
Hancocks shaft is going breaking speed,
80 feet being made last month. the present time the
indications are that they will cut the Pewabic lode early
part of next week providing the position of the
vein is the same the formation would indicate
pared with the openings above
The shaft is 1906 feet deep at present time There
has been very good buying the by
people well acquainted with the company
should the vein show up expected stock
floating around Hancock should advance rapidly
oNEco
Onecos shaft 1O61 deep first of February
The objective point where the rich encountered is
1920 feet They sinking only about so feet a month
hence 1t will be three months before they the rich
shute encountered by the diamond However copper
can be expected to be encountered from
on and this will naturally have favorable influence
on the shares this stock
The shaft has been going down a uniform dip and
really is the hanging of the vein though the
present time it is being dropped slightly and i'm tho
course of few days will be In middle vein By
the time the 1900 level is the foot
wall according to the plans of the management
They have cut plat every this is
the reason they arc making only so a month Then
again. the shaft has been pos
sible working only shift drilling opposite
shift N mucking.
past few days stated copper can be expected
m the shaft now on
SUPERIOR 6oHANzA
This is the reorganzed Bonanza whose head