The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-05-10
Gossip Of Market and Mines by Minnear 4 Co.


question,
The report of operations the quarter ending March
81 has been shows earnings of ssOs23 or AZ
the tribe less than 81 per share quarterly after
deducng mteres; charges the outstanding convertible
bonds These earnings compare very favorably with
earnings the previous quarter during which time
SGS29iS earned These increased earnings reflect
partially decrease in costs but the major portion Of
the sl25ooO increase brought about by Increase
| IN production very close to 100000 pounds.
gross production for the first quarter of 1918
amounted i209i.672 and compared with 1O67.S6t FOR
the last quarter OF 1912.
The company a close OF the quar-
ter of s33?a76 and money being borrowed Il IL
quite evident they have considerable unsold copper a
portion of which the shows is carried in the
a basis of l2ls cents pound
| ARIZONA COMMERCIAL
There has a better demand this issue the past
few days, and in response to put u
| the company, given the following;
satisfactory progress being made II sinking the
Copper Hin shaft and drifting the Sth levels
The 9TH level drift be nearly abreast the ore
body existed the and a crosscut is nov
being driven towards it, While there great deal Of
data 1t is figured the about 100
feet from the body. There have been encoun
cred occasional srnsers and lunches OF develop
ments not sufficiently advanced to the point wher
the main body he expected
The company has in its treasury sufficient to
carry the planned. nrst Of March
there the treasury s2450OO. and the present
expenditures at the rate Of about $4,000
CALUMET & ARIZONA. AMERICAN SAGINAW
At special meeting Of the directors of the COM
pany held in Chicago week the proposed
of the American Saginaw property 5000 N
Calumet IL Arizona stock ratified. While 10 state
men has been given regarding the time exchange
Undoubtedly American Saginaw stockholders receive
luutirp tbpir,
stock foT Calumet ~ Arizona, that they parc.
pate in the coming quarterly disbursement.
While it was not expected the directors declared
regular quarterly dividend Calumet at the
mcetns in Chicago last Saturday. This was
several weeks in advance the declaration
This dividend of si25 is payable June 20
ord June 9Th
dividend Of 3Sc share with was also de
oared superior rittsburs, which practically all
held by Calumet Arizona.
SOUTH LAKE
No will be made TO the three odcs revealed by
the shaft at the South Lake until the foot level is
reached, not only account of the danger the
sinking the shaft, but also because of the lack of
pressor power All the air compressed
the three drills employed the and for the
pumps The management is determined to let nothing
interfere with their plan reach the four odes of the
South Lake disclosed by the diamond drill holes
at the carlcs possible moment When the crosscut
these lodes is begun only perhaps drill will bp
required, and the other others in
cutting so-caled Evergreen lodcs.
Ia be started will that the The
ports coming from those who have made It nspcc
on Confederate the orsina statements made concenng
this property.
osCEoLA-
II is reported that haulagc endless ropes
CINE with compressed very shortly insaleo
at two of the lower levels probably the ash and seth
south of Osceoa shaft No g. This change is rendered
necessary by the long distances that travelled
from the faces Of the drifts to the shaft,
the great stretch of presumably good ground farther south
L" tn" La sale boundary The oath is in about 100 feet
the 3Sh close behind other levels from the
26th To the f,th inclusive Thee
nine levels have been completely stopped
tent The boundary line in from the at
angle of about 50 degrees the level
ana then recedes at slightly smaller angle. shown
there are still about 1oo o virgin territory lac
this system of hauase will be put into the other
levels time.
The old Cornish pump shaft the last survivor
II the district was stopped last week. THIS type had
'e" VI rou usually about by inches that roll
CTS 'o" the surface 800 to 900 feet down to then
"erc would be another rod to another stump the
distance below, and was needed The stroke
nom = to feet The from the lowest levels had
'e raised twice the sunp at the bottom Of
pumps IN the 35h level. Four electric pumps set up
TIE No shaft in of the following named
els the nth, cath. 36th and 18th
These two improvements viii effect quite a reductico
In costs
The small engine to used at the asth level of No
III 'he sinking Is Just being placed position The deep
e VI hese shafts was 'mpcrativcy required there
are Only the three levels of ahead the i5rd t,