The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-07-12
Gossip Of Market and Mines by Minnear 4 Go.

and further of the were not IN ope
shape TO pay disburscd some little time age
In fact the dividends paid ON the entire out
standing stock, according the annual statement
Tuoumne capitalized for 100000 shares and ii is gen
orally understood that issued. In tn
report year ending 1911 during which yea
the paid IS share dividends, the baane
sheet total $2I5525 disbused for dviden
account This would pay dividends approximate
~ only i7sooo shares hence it would seem as If all tn
stock did not participate in the dividend
is conceded they have claim tn
Butte the developments the 1000 foot level From
which much expected have not proven to be salts
quite the contrary the veins this depth
found o be very much impoverished. While this dis
it does signify that this property has bee
worked of the the district have foun
similar condition at depth other.
The shaft has been continued the 200 level and tn
latest advices that the this level
showing face of averaging per copper In
doubtedy Tuoumne could work out it's salvation witt
its present capitalization especially with this
cent better showing the ZOO level While the BUTT
Main Range property. which talked the propert.
under consideration. may seem RICH
that the Tuolumne stockholders should
the expense of developing this property
LA SALE
Friends of been attempting to increos
OF
the bid price this up fractional ~
from day day with sales
The main attempt to purchase the stool
was the resumption of shipments which came mucl
earlier than expected was placed at In,
sockpe at No. shaft and is loading the vii
he shipped to the Hecla branch of the Calumet
stampml. The capacity Of the limited t,
less than daily, quite likely for the tim,
enc head will he operated only on La Sale ros
These heads capable Of stamping only 400 tons
daily.
So many fact that La Sale is highl,
capitalized compared with the Lake Superior
mines there being outstanding So2s75 compared
with capitalization of 100000 most the other
Calumet Il Hecla subsidiaries.
1t is hoped the yield copper per ton viii he more sat
isfactory than when the property last operated al
which time 1929 pounds refined copper Cncluding mass
and barrel worlD obtained from ton of rock
Stopping has been started the 18th level Of No.
shaft and railroad arc completed un-
doubtedly shipments will he increased ana sent drec,
from underground openings.
INDIANA
According to the best information obainabe the famou.
fesite bed with some good copper been located by
diamond drill No. the level of the
shaft Of this property
Another hole is being driven vertically as it is figured
that the bed be encountered some 30 o 40 foot h
low the stump Of the shaft. The of this drilling
that Is No hole. have correlation with the No
hole or the driven vertically from the surface and
which the paralecd
The encounteng of fclsite bed is very GRATIFYING
as apparently those in charge lost at least that is
the intimation that among stockholders and
further the stock market reflected the same view
Stockholders afraid that it never would he located
and have been dsposing holdings
ing losses.
Drifting continues the 115O level along tho contact
Weeh the felste and the trap. and although no conner
OF commercial importance has been with so far this
work viii he continued for geological reasons This &c
The only lateral opening that being prosecuted at the
moment
ALGoMAH-
me shaft on this property attained deptb NJ esz
rect and will probably be below 400 feet Some
Sa masses as well as bouder of black oxide have been
encountered IN the recent sinking work other than
inns shaft sinking is being prosecuted at the present
nothing of any value disclosed the crosscuttne and
further examination of this territory will be made ,
by diamond drilling
SOUTH LAKE
Shaft is now bottomed depth of 500 feet and s
ton is being cut, and which will require about two -
to complete.
During the past few weeks the formation e,counto,
IN the shaft has been trap and matter CARVING
little copper.
The crosscut is being continued the 800 foot Ieve,