The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-07-19
MASS CONSOLIDATED

OF Jew weeks. the pay roll of the company will
show many employed previous to the shut
Shafts b and c only being operated the day
shift present. although is likely night shift can
be started of them total rock daily
being shipped the mill at Kcweenaw Bay from which
yield of about pounds mineral being oh.
tanned closer rock s nov
being made Considerable copper being secured
from tn" Evergreen lode familiar with prop
cry places the product this equal to one.
third of that obtained the mill These combined would
make the refined product about equal to the mineral
from the mill which Is about pounds the ton
GREENE cANANEA-
The figures for the june production of this company
29OSoOo pounds copper silver and
4'o ounces of gold This increase the May pro.
dncti"n which was 100000 pounds of 7s 1872
cs Of silver and 42S ounces ct gold and with
average monthly production the first five months or
this of 49loOO pounds copper 1864 ounces OF
silver and 6e7 that the company
is operating about GO per normal capacity
Evidently political conditions insurrecon are not
bad during the month May when the extremely
low production was made AT present the
July figures show sti further improvements nc.
cordng to private information from tho
property although it is beyond the power
tell when another uprising be vicinity
of the Companys property
The last quarterly dividend passed owing 10 this
rebellion in Mexico and the inability the company to
operate their plants anywhere near capacity Since
then conditions have improved slightly although it IL
hardly expected that disbursement will be made al the
quarterly period August
The exchange of Greene Cananea now outstanding
which shows value OF $50 the 500 par
STOCK VIII be made anytime after August LIST.
Fun shares will be issued for five aud
transferable script will be issued to holders
FIVE shares and those whose holdings are not i'm multi
pies of five. These Fractional scrip will he traded
in the market hclders of Greene Cananea can
readily adjust their holdings shares by either buy
ing or selling tn" fractional scrip scrip will have no
voting power neither will be entitled dividend so
to the advantage to adjust their fractions
at the earliest moment
HoMEsTAkE-
Owing to the high selling price of issue the low
l'a"a'oh ana the fact that 1t is held principally by
investors, writer's mining letters are at DISADVANTAGE
securing news ON this property. though without
the physical condition property has been improyel
immensely during the past years.
All mining companies are lquiatinp pronostons for
with the extraction of they reducing their
asset. OF course Homestate is no execution However
mas been stated they have estimated life OF half
century with the present production
me milling facilities of the company being grad
S increased without interfering with the output
est ADDITION being to mestake mill
which is of the -four mills being operated nv the Home
STAKE company This brings the capacity of the Homesake
mill branch up To go heads The total milling capacv of
e company has been increased heads to 200
each head having daily Capacity of tons This latest
'oot'"h of 20 heads is being operated by motor cleo
'oay driven and the unit is be giving entire
satisfaction.
me increase In the milling facilities so far this wear
means an increase of 10 the net earnings Of the
company over the figures 1912
Homesake Mining Company has outstanding at the
present time 25il6O shares allowing for the regulac
monthly disbursement of 65 cents per share calls for
disbursement of practically annually The July
dividend which has already announced Is pavabe on
July 10Th to stock of record the 18th
Evidently the taxation laws South Dakota are more
ehent To corporations than some of the other districts
" 'he united States for according assessment roll
oestae as sS@s92h which equivalent tn an assessed
"'oh Oh sS3 per share. According to the last report
he rate OF taxation is about IA per cent ON the assessed
valuation
me regular quarterly dividend of s,hO was declared
r"Sape August 2Srd to stock Of record July oath with
" present price OF copper Anaconda is earning lust about
'S" 10 e""oe Amalgamated to maintain this dividend
rate. - ~
'o"o'' paying at the of 75 cents turns over to
'ne Ama'samated s2sas,475oo quarterly
continued on 9th Page Cole. {, ana 3