The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-09-06
Gossip Of Market and Mines by Minnear 4 Co.

The average mineral contents the companvs n,
grade ore are about "a per cent though only Iss NO.
cent ore was handled during the quarter ending June 2
+" make this record output required the handling q,
much higher grade of ore during the month of Anon,
than during the preceding quarter. this output on
saving of 30 pounds of copper TO the con nasm,,
the extraction being made is between and 20 per cent
Il While this rate production is not expected 70 =,
maintained II is evident that the management tooL ~,
vantage Of the higher metal market production.
further 1t proves coneusivey that the estimated animal
production of 6OOOoOoO pounds is very conservative
some writers Chino as making can
i per of ~. However it should NOT n
overlooked that for the quarter ending June 9O thu
cost S7i cents after credtng miscellaneous earnings
3lst and $40 for the ending December 81 1912
u Allowing for Sla cent cost with pound pro-
ducton and figuring metal at 16 cents. this company Is
earning better than $500 per share
| The estimated is 9OOOO.0OO tons ar ,
ifc of thirty the present of production
This issue s5O9s in 1912 with high So rr
this year s47ss
eoLDFlELD CONSOLIDATED
Stockholders Of this company were treated o a sur
prise. for the meeting of the held the early
part of this week dividend of 40 declared
This dividend is payable october Sst stock of record
September compares cents paid the pre-.
ceding semi annual period
! The estimated earnings Of this
$4,000 with earnings $l6SOOOOO
in July.
The official report of operations for July which
Gently been published credits mining operations with
AS724OO while the milling and transportation company
separate corporation and which operates the 100
mill and railroad. is credited with earnings $4,000
The operating has further reduced and now
amounts to 1888 ton. This is a very figure
in fact much lower than that recorded by gold min
ing company handling Of similar character.
Development work continues open up large 90
milling of average grade. Company shipping
considerable of the refractory smccrs as
the cyanide process being used at the
is suited the successful treatment of this ore
The only this selling present price
of around 81 share the companys ore
reserve is limited years productions Attempts are
being made to keep this by openings
and far the management fairly successful IN
this respect During the month of July 3,4SO
veopmen average cost of 50 81 per
foot.
Good results obtained development work.
and especially the Mohawk No claim near the
boundary of the Silver property strong bgh
grade body has been High grade orc
at this point expected considerable 70
the known reserve
M'klNLEY DARRAGH-
The quarterly dividend this company has been We,
duced to six compared cents disburs,e
To stockholders the two preceding quarters 1t
oncton on the extra dividend being paid by this
The dividend is payable october LIST
September 18TH No reason has given action
and it came complete surprise July production
of this company amounted $4,000
IS considerably in of the produced during
The preceding month though 1t falls considerably below
the average for the year 49,.
This company recently increased the capacity Of its
mill and is now handling 24o daily of
which is coming from the Savage claim balance
from the old property.
LAKE COPPER
Stockholders of this will short,
OF the resembling of the ca for the assessment
which was to he payable September and u same
time VIII receive notice of resolution calling for
assessment of the payable September end
This course made necessary because the directors
we're not familiar with law recently enacted in the
II Michigan which permits of but per be-
ing charged delinquent whereas orig
mai resolution called & per cent interest
QUINCY
Directors OF this company announced q quarterly dNi-
'end of Soo as compared with S25 quarter
six months The dividend is payable September 2sh
to stock of record September 9th This dividend was
Ter than was expected locally, thought
"hS would conserve its surplus in order continue the
reconstruction of the plant at No. and No shafts
well as the other construction under way
"mic hosting on small scale has resumed,
lar n" attempt has been made mill hosed.
'h"ush II Is likely few of the heads started
week. The Quincy mill has considerable capacity
ana the rock mined is being transported
ing such time suiicien: amount Is on hand to
rant the economical handling of the smaller tonnage
oNEco- .tvy~r
The date for the delinquent of stock on which