The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-02-10


OF the Democratic administration is bound to affect
mara specuatiye issues while the other hand bonds
will not be as greatly affected will the railroads and
industrials.
To those OF our readers extent
of investigating any special bonds Miller Co..
en correspondents offered us the services of their
bond department. will be pleased to
npdepce with anyone wishing take advantage this
opportunity
WOLVERINE
practically the only development this property
is that being done the Osceola lode through the
shaft At the present plat is being the 5h level
or at depth of 525 which drifts will be driven
both north south The Bird level drifts have been
tended north and south about 300 feet, at which
distance they discontinued. AS soon work has
progressed far enough in the drifts the 9Th level
allow a diamond drill to he operated from the bottom
the shaft, one be put in operation. and hole put
thousand feet in the vein to test out the values
of this osceoa lode on Wolverine ground at depth
So far the developments been satisfactory
bunch of ground being encountered that showed
commercial value. Only small force of men is
poyed at shaft a operations being carried
with one man machines that the development
to Wolverine very nominal
oJleWAY-
Work in that territory tributary No shaft is
ing very promising results in fact this is the first
1000 level and found the vein to have width
feet, fairly well mneralized.
A drift has south for 40 feet from this
point and showing still promising. The ground be-
much softer and of dark brown color
every hundred in depth. those closely watch
ing Ojbways developments expecting that the Kear
sarge will found regular and defined than
is on upper levels far developments have shown
badly split At present. diamond drill is being
operated from the bottom Of No. shaft.
GoLoFlELD-
According official statement showing the
operations the three months Goldfed is
| earning approximately 75c rer share.
earnings $745,53S this brings the
plus up to over million dollar figure January !,
9l3 this is the mark set by Secretary Howe, re-
sumption of dividend disbursements be expected
soon.
for the first quarter of the year have
teen in the past the first of March, so 1t Is quite
possible be declared that date this year Eff
teen cents seems and these prices
s21 bid s2h asked. looks attractive II
the dividend expected around March ls they
will have skipped only dividend the last
declared September 1912, at which time 300 was
| announced.
JUMBO EXTENSION
The annual report recently by its stockhod
years labor this property is on
| producing do better than pay expenses.
One handicap that temporarily is the
milling question AS considerable low grade has been
opened up necessary it, and to that
end a twenty mill leased. After installing ad-
dtiona equipment, it found the wash able to
take care OF a SO extraction and
handle 1000 per month This low grade has
value of IS ton and present costs mining, $2S4
milling 50, a profit realized The company has
also opened considerable shipping but owing to ex-
cessive being shipped
The shaft is boomed the 1000 level and for the
Of shift daily. Goldfeld Merge
Mines is operating two drilling machines on
development for the Extension company They have
a cash balance of $4,000.
ALGoMAH-
Undoubtedly the Of April comes assessment
of 81 share will have property in
debt to the extent of $4,000 and adding this indebt-
edness at the rate of about $4,000 per month.
The shaft is bottomed a depth of 235
oasional show ing of copper The the
200 foot level toward the presumed the Lake
lode has failed pick up this formation indicating
swing to the westward in the at this point No
other work is in progress owing the financial diff
cuitics, diamond drilling ceased months ago.
PRODUCERS STATEMENT
The statement which published yesterday showing
the figures for the January was about as
pected The production the month of January
the third largest publication of the copper pro-
ducers' figures and hence. when is taken into
sideraon 1t is not at all had. only exceeded in
August and October. 1912, only by
2oooOOO pounds Production and copper the
month of January amounted 14S,i7s,625 pounds.
While local consumption showed a light increase
i tIa nroNi.,