The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-05-11
CUEERREEsMEPP OF l7;' THE CoP ! asa2$s
oOOOAA '''''''''''''''' & COMPANY


During the three months OF 1912. average pro
obtained for eectrolytc close I4ls cents
Il pound. While sales copper at a higher
figure during the part of the year should be re-
membered practically o elecrolytc conner
producers sell three ahead as I,
takes that long for to through the renners
Assuming OF 734 pound the compan,,s
product output of l25OoOOO average
price obtained of 14Si pound. 1t indicate
profit a pound total sS75OOO for
the quarter the present outstanding capitalization OF
Calumet & Arizona this would be equivalent approx
matey sl.4O per share
i the policy Of Calumet Arizona director.
in past years upon any heavy outlay for
equipment distribute this current
quarter rather a period of at least year. this
policy of smelling plant
is distributed period of several would
quite there is question but
that when directors dividend will be in
creased from s1.OO sl.25 $3.50 per share.
| HEATING
Il Heating management has given out comparatively
little information concerning operations its property
we private that developments
mine of promising nature of late. The
management developing the aggressvey
and making whatever to manipulate the
i Work at present time is concentrated in a
ssure which has been opened for distance OF
approximately $500 feet and down to and including the
fifth level disclosed in each level
the level development work is in and the
ore apparently is a somewhat better quality About
ago. shaft reached the seventh level where the
vein lace and slightly wider ore is of
higher grade upper This station is
being drifting will be begun in few days.
The shaft has been continued in the meantime and should
eight close of the month.
For present. sinking will not be continued below the
eighth seventh and sixth levels opened
up company will large amount of stopping
j ground available shipments
During the months April, profits from
ore SHIPPED to the East Butte tO
600 per month on of develop
ment this month and also to be done in
June shipments curtaled that earnings Will
probably be somewhat less.
i The ore that has East Butte smeler
| runs $40 per This carries an ex-
cess values running from
to three per present time it is to
team miles The building OF spur is now
under way and completed will rtduce the cost OF
handling per Shipments going forward
at about so tons day.
u GREENE cANANEA
The annual report cananea will be issued in
the near of the other mining COM
panes reports something disappointment it
covers a period of low priced copper.
u Greene Cananea earnings for the
year approximately s1.2OOOoO rhe less than
fifty cents per share company obtained about 12h
\ cents pound for its product.
II this year has number of trying
Il problems which falling production
The management however able make for
this early close the 1912 with output
very 5OOooOOo pounds of If this is done
sells for sixteen pound Greene should
show earnings of approximately s1.25 share
The Mexican situation nterered slight degree
with production while trouble has been ex'
peenced by Greene cananea result of this political
disturbance, 1t
The company will probably increase the next dvi-
dend which will be payable in August
/ MINING NOTES
Drifting the go level Of Houghon Copper has pro-
about 500 showing up excellent ground
Il strike of dock employees at Baltimore this month
caused curtamcn of cearances from that port
| IT is reported that Amalgamated interests have
bought into Davis DAILY and will ultimately take this
| property. tJ t.sW 4ft
Chief earned $4,000 month The company is rapidly
accommodating a surplus possible the early
/ commencement OF dividend disbursements.
! New Arcadan will sinking during the COM
ing The company had $4,000 in its treasury on
May 1st which will sufficient carry work through
| the summer 81
We are told that plan being considered for the con-
solidaon the Ashbed properties This prob
ably quiet buying in during
the past weeks
i The trial last month of the West End mill gave
net $4,000 with all debts paid Important dis
closures expected the Halifax controlled by
| West End, in the
i In April old Dominion produced 2167,Ooo pounds OF
"copper" falling Oft from the previous months production
OF about 10000 pounds 100000 less than was
produced in 1911 during the month,
/ Neither Mayaower Old Colony encountered mineral