The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-10-18
Gossip Of Market and Mines by Minnear 4 Co.

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Mines company This report s given In detail in
tho annual report with suggestions tho line Of fur
hcr exploration.
According to the report, is quite apparent that the
efforts in developing Inc property havc heen vain.
and that several promnng bodies have been opened
Probably the exploration date
LII sirena property where body Of lead anthony
been developed This body has been extend 700
feet tho strike with Width Of east thirty feet;
depth 81 the body Is not known.
IN the time of cessation operations az The prop
critics of the company, there expended during
FISCAL year of the company about SSoOOO. This
treasury balance Of cash and quick If $4,000
equivalent about IL cents share tho outstanding
275Ooo shares. BESIDES the cash. the
pany 27sf patented claims ana 37s acres
;c which is pending total Of 81 ass feet
has prosecuted This includes shaft sinking
drifting etc, and in addition onehal mile Of dia
mond drilling. All this carried a very
low cost, making IN average $3.50 Der foot for all
classes Of the work.
While IL is disappointing ones holdings selling
in the market lilo the price originally paid, is
Cortez stockholders should
Developments date, noering hoped
inception company such that the plans
of The organizers this mpany carried to
completion and that the development separate prop
critics such that they viii stand financing
their showing INDEPENDENT comranic.
BUTTE AND SUPERIOR
announcement Mineral Separation compan
London had the restraining
order anG permanent injunction against Of
called hyde being used by the Butte
.s~rcrrpr-company iquidaton the
shares of this company. The made public
until after The close "Wednesday, opening
s66y Of idrrahl no in Ia
further intensified ny tho price
o lead
Tho hearing suit held part of
October according the statement Of high up in
the of this company, stockholders should be-
alarmed. il tho decision adverse 10
Butte II Superior would amount to over 20 cents
per annually. which would be in the of Il
royalty The Superior would have
. the the pacn.
BUTTE ALEX SCOTT
We get /, very good authority that negotiations
are pending FOR the acquisition Of Calumet e. Sonora by
Alex company. what the results OF
negotiations will be Is probematical Tho PROPOSE
ton outlined calls for ;he sale Of all the Calumet
properties for block Of treasury stock of the
company we'll the company assuming the
tonCeG Indebtedness Of the Calumet company,
which amounts 10 100000.
We have always held the properties of the Calumet Il
company has success understand it..
they again in funds. may De been
expecting much of this company. nevertheless
It has been practically complete failure
very good illustration necessity rigid
ing laws nasmuch this has been very lax in
keeping it's stockholders informed the developments
and narcia standing of the Reports evidently
only the a few quar-
terly they should be-
Undoubtedly before any is closed taking
OF the Calumet Sonora by the Butte Alex Scott tho
stockholders in both companies will be acquainted with
the will be allowed question
which within their rights.
BUTTE 6 LONDON
expected that unwaterng of the shaft at this
property will about November OF
the Rainbow company who have charge Of the
this property we'll state that the foundation for
the hosting and plant been completed
awaits the receipt installation machinery
active will be resumed.
DisTiLLERs SECURITIES
This sold tho past week to $3as but at this
writing is $l57s, advance OF &c points from
the low. The for this strength
ment Of the election OF Mr. Julius Kesser director
and at the organization meeting Of the Board Of Directors
he elected President OF the company This corpora
ton has been endeavong years
services and the fact that these efforts successful will
probably bring about further rally in the stock Eur
Their advance several points in this issue quito
possible.
RIO TiETo-
labor difficulties property mean an additional
curtailn,ent 100000 pounds monthly if the
strike continues Tor any length time it will wide
inroads q the present limited visible supply.
According advices. this property went
on strike Thursday this week. the trouble
been longer duration early settlement