The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-08-02

The total average of mining and milling a ton 81,
during past s679 per ton Including a,
orment construction expense per ton being ha
the former while &c ton expended on consru
ton
ALLoUEz-
present conditions stockholders company are
likely get dividend this than were
II for this property like most of others
in the Lake Superior practically idle owing the
labor early resumption of operations
only thing that make it possible for management
to give the stockholders long looked their
money Il portion which invested In this property
| over "A half century
AIlouez was first Incorporated in 1859, which time
100000 WAS paid the expiration of the charter
1882 it was reorganized 100000 share
s25 par Of which SECS been paid in Since the
called in 1904 at which time SO was levied
the company has getting dollar for old
one and gradually putting the property remunemve
basis for stockholders.
The official statement of the company showing the COM
parave results Of operations for the first six months o.
this year has and quite satisfactory nda
ing that after these many years company
| first six of this year $50 share
ON July LIST of the company follows
Cash and copper and silver unsod $jl6o
supplies at mine i7,75i
Against which liabilities show
Notes payable Boston. s27s27'
Accounts payable at 425l9
This leaves in of liabilities Of
approximately s2i5,000
There produced for the first six months S5lOOoo
pounds of refined copper years figures for
the period of 2,527,53o pounds.
There rock treated an increase OF
nearly the same period of 1917 The ylea
yer of nearly pound per
ton II % for the past six months This M
crease in tonnage in mineral contents
assisted reducing total pound as the
liked expense remains practically the same.
The total months of 1913 were 1923
cents including interest The construction
item has practically only shows 16 of cent
whereas the period year ago it was 2SS cents
With the working capital, the interest
charge Il pound and the Eastern
office likewise reduced 1S of a cent
1t plainly this report that stockhoue's
to receive possible should not expect d
working capital is materially increased
as requires approximately finance the product
OF this company.
kEWEENAw-
The best showing of found in any hole so '''
drilled hole No. As the Ashoea
property The where encountered shows
very good liberalization carrying particles to small
masses copper with uniform distribution. The strike
and width correspond closely with the data o0
| tanned drilled Vein from j to
! IA wide.
hole with hut little so this makes
five out of the eight holes drilled showing naturalization
of commercial grade hole will be located low
feet of No. As and about half way between '"'
outer congomerate to the north and the greensboro "p
to south This hole will bottomed If 1t is possn
to drill that distance. depth of 1900 feet No - WI"
| tho out
of the at right angles
| to formation, the data obtained will give
complete between above mentioned
. veins of the
CENTENNIAL
report showing the comparative results of operations
this property the six months of 1913 has oe'
issued shows about a expected
While the output increased much as a great
many Of the stockholders felt should have been with '"'
high priced market 10000 pounds
more produced than the period of 1918
The refined like that of Al
ouez showed Of little pound TO III"
ton This in both cases be partially attributed TO '
closer se ton rock although openings have also snow"
! Improvement.
Centennial No. shaft is about the S''n
level and informed that the time Of the rece"
wak-out the showing in the bottom of the shaft was e
eeedingly good and also that raise being driven
from the 3itl level practically under Of the Souu
kearsage shafts presumably purpose of connecting
with this shaft time may be rea
son why the production company not been IN
creased undoubtedly territory below TINS
South Kearsarge shaft mined much cheapS
10y using that shaft through shafts As the
ground from which this shaft making extraction WI"
soon be exhausted will change possible ana
to and