The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-06-21

Silver companies Those posted the value Of these
properties that they do think probable the
trustees would sell anything like present quotations
There is getting away fact that deal sr6
this should beterment of Stockholders
all the companies The ronopah Mining COMPANY has
complete up-to-date milling equipment oont,ols
railroad which mines in the camp and
likewise large cash and liquid surplus
on the other hand the smaller companies have not
these advantages, but have that which Tonopah lacks
good reserves" which are being added to quite
rapidly
LAKE COPPER
Quite contrary general expectations there was moth
ing sensational developed at the annual meeting
company held the past week Nevertheless con.
tinued be steady liquidation OF this issue mar
before after the meeting. Thursday Of past
the climax reached when loo shares wer,
naded in and caused low point OF s5is be
al this level the buying better than the selling
The report has published shows tina:
fun year mining companys treas
ury has been depleted about $4,000 course CON
siderable portion Of this charged development
work and equppng the property, and according the
companys statement the mining loss only sI2,i31
There produced year l3OO.562 pounds Of
refined which the management has figured
reduced Of 1919 per pound
taxes and liberal allowance for development
product disposed selling price
per pound The taxes amounted to ne per pound on
last years production and the advocat-
ed by some would not be conhscatory. However this
years should be much lower. the is
figured the market value of the outstanding stock.
which very nominal figure
At the annual meeting which held Wednesday a
the week, the retiring officers
1T that time financing discussed which quit,
likely will come IN the shape of This will
require early attention. the company
ance Of only $1,000. with additional assets of $4,000 in
copper on hand and sold and paid for. Against this
there was due in ACCOUNTS payable s2S.s4o.
According to the report, scarcity has
Lakes output below expectations ami also below the ability
of the mine produce from it's openings About
1000 tons Of rock month being handled from which
average of 1854 pounds of refined copper obtained
President Paine the authority following
ment. which should of than passing interest
stockholders While the drifting the bend in the
lode at the North where TIE change in the strike
has been well done
drift truly the change strike pos
siblity identity the lode may have been
Also, that there may parallel nearby To
test this ground diamond drilling horizontal
Nv from the seventh level he hanging wall
MOHAWK
There has been little change in the past week in the
labor situation this property. The manag cement has
been suainng every effort hold up production
nal figures and far has been quite successful This
success date only obtained by working only
the better Slopes.
is generally conceded that the forthcoming dividend
VIII be decreased in fact quarters only 81 Is
expected The optimistic expecting $3.50 and
this figure quite possible
HALIFAX
The southwest drift ON this property, which is being
driven the hanging wall side the loco
foot level eptced good milling val
ues with sreaks high grade Assays taken
during the last forty Of openings indicate values q"
over $40 ton. is being extended ON the
LOO level pick up downward of this ore
body
SOUTHWESTERN MIAMI
This issue actively traded yesterday 1850 shares
being dealt in early at 81. compared with high safes
OF sS's in the later dealings The point advance was
maintained the SO bid $3n asked There
was announcement but IL certainly indicative "'
some important DEVELOPMENTS in regards the COMPANY "
The stock taken blocks the point gain was
maintained
roNoPAH BELMONT
Earnings the month of May been announces
as slS2sl and quite contrast with that OF "e
Tonopah Mining. the net pronts are sisS'E
over The figures for April.
The tonnage mlled also showed quite increase
-65o tons being mled the past month The NUNS
plant is handling 500 daily which Is 'ne
largest tonnage mill put into operation
recovery by mill from the assay Va"
Of the showed $3.50 per This certainly u VIZ
pleasing ana proves that time Is all that s iequ'" "
tune these improved milling facilities up to sano"'"'
ISLE RoYAlE
The site No shaft Of the Isle Royae 5''V'
feet south of M. the Of considerable 'cu
Continued on 9th PAGE. Coils, I, and g.