The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-08-30
Gossip Of Market and Mines by Minnear 4 Co.

per ton compared average value for the nae.
month Of si4sG.
New ground is being opened rate Of about 9oo
monthly. most of this development at the pres
ent being carried the Silver Top propertv
Mining this property being on from the "a,
level to 740 level and all is of very eoo,
grade
The noted Improvement the quality OF the ora 10
that coming Valley View mine on the 5aO levo,
which point the vein for three feet is high
grade At present the dimensions of the body on this
level known though promises to yield a larg
of good milling
AT the Sand Grass claim the sinking of main shat,
has been resumed from the 74o level point on
the shaft will be widened three compartment
Notwithstanding there 1926 tons OF ore less ni,
Tonopahs net earnings for the July increased
SSi423Oo This made possible by an increase in m,
grade of handled during about s2sG Der
ton as compared with June AS previously stated in
this article, there has been further improvement in III.
values of the during August
The total net profit for July sl23550 from 1920
tons of ore handled compared with the net prof,
Of ss9,127 with 1856 of handled. Had II NOT
been for the holidays the July earnings would have
shown much increase total net profit for
the first two months Of this s2I2Ooo which "a
equivalent TO 20 cents share for the opera
tions If the August equal average for
the past to months quite evident that
Of "a should be expected.
OHIO COPPER
This issue has been subjected heavy selling without
support and the price of been rang
ing 30 This stock represents the old Ohio
stock with slOO additional paid time of reor
SANITATION, about year ago. The Engagement is re-
ceving great criticisms regarding of
mining and milling. well the price being paid To
the Mascot Tunnel for privilege hauling
the Ohio through this tunnel the latter bena
II cents 1t is also that Ohio been at
tempting to handle tonnage without making proper
selection, returns from mill have been far from
satisfactory.
1t is rumored that the engineer was engaged to
examine the property has made his report
tors, but apparently from the action stock this
report was not very favorable. though has
been disclosed to stockholders.
kEWEENAW COPPER
An assessment of s1O0 per called Phoenix
subsidiary this company and announcement of same
mailed stockholders This assessment is payable Sep
TENDER 18th.
Phoenix has outstanding obligations the extent Of
about $s5,oOO.OO the assessment is paid the
treasury of the will shape carry on the
proposed plans Of development per cent
of the stock outstanding of the Phoenix is held the
treasury of the Keweenaw Copper.
Phoenix Copper has Y miles strike of the Ash
bed lode 400 feet of which prospected by
drilling during the year 1910 1t is proposed to further
develop this lode by drilling nd sink shaft to
further explore the which
carries mineral values by the previous diamond drilling
third drilling outfit up on this branch of
the keweenaw property, same formerly the Ad-
venture The other outfits being on the north
orn territory meeting with uniform results No
hole encountered the Ashbed lode
rous hole in texture Dip etc No. AZ hole will the
continuity of the vein at much depth than those
previously drilled All the holes being driven
angles to the formation. and mineral values
have been demonstrated in six holes drilled
this point
RAY CONSOLIDATED
At meeting directors held yesterday the regular
quarterly dividend Of 37ia declared, payable
September S0h to stock September This
is the second distribution made stockholders.
The July production which been ANNOUNCED is the
smallest since February of year and is 100000
pounds The product for the month of June
4.392612.
GRANNY CONSOLIDATED
This issue the market yesterday sell
up opening sale Of s64& to SOS and
ing s67k bid There traded
in yesterday, the largest time
past
This property is Numerically opposite that of cau-
met Heca inasmuch the workings, the Hidden
Creek property. will yield of twice the number Of
pounds than that the mine. The Grand Forks or
old mine is producing II pounds copper while
Hidden yield excess of 30 pounds to
Diamond drilling has been resorted to in proving up
the ore body and these drilling operations
tered additional bodies running from to 10 cent
copper lying beneath the bodies previously
list Options have been taken adjoining
critics in this Hidden Creek district management
Is waiting regarding DEVELOPMENT exploratory