The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-04-05
GOSSIP Of Market and Mines by Minnear \ Go.

, r ~ the mine management viii pur in tho
, am, crushers and complete it's construction. Tn,
engine Norbeg the standard type used AT the Lake
is ON the ground and will be set up In the meantime When
work is completed practically all of the force at the No.
. shaft where sinking been discontinued. will be
transferred to this shaft and sinking and opening
work FASTENED.
HANCOCK
Tbcrc have been no further Developments in the
called No lode last report when fully 20 feet
Of commercial copper ground exposed In formation
averaging II wide Work has now become CEN
tered in the cutting out slopes the purpose of
ycopng a rock tonnage \ raise is being pushed from
the 18th the 10th level in the new lode first en-
countered a few months ago by the crosscu east this
level This lode has attention in the
Of drifting showing rich within rather limited
area The company made a second shipment of IL cars
o rock last Sunday the last previous shipment being
made about a month other shipments OF a Ike ton-
mage will be time to time to keep the UNDER
ground workings clear.
INDIANA
The Indiana has reached depth of l,3sS feet.
where a station being in trap rock prepare
tory to prosecuting a drill will likely be
pressed into service before prosecuting actually begins
for purpose determining the exact course in which
the crosscu should be driven passed out Of
ground time and, since reaching depth
feet has been sinking in formation that
was not revealed drill hole sunk less than
100 feet away, approximate location OF
copper bearing portion OF the Indiana felsite bed is
therefore unknown.
NORTH LAKE
The company continues to conhne activity shaft
work depth "a feet has been attained. The shaft
which being pushed to develop several bearing
odcs previously disclosed diamond drilling is just
passing Of sandstone congomerate bed. in
which has been sinking for more than $50 feet No
important developments looked for in this
some little time. although showing of copper
a depth in the diamond drill holes
sunk in the previous exploratory campaign.
ALGoMAH-
This company will Immediately drifting on good
looking amygdaoid, carrying copper, recently
the the shaft
the 21O foot level distant about SOOfeet from the
shaft The identity of this lode has been established
elsewhere this property centered in shaft sink
below the level The company suspended dia
mond drill operations several months owing To lack
of funds.
SOUTH LAKE
about feet, made copper ground at
the bottom of the shaft Tuesday night and the drills
still copper Thursday The shaft has
depth of $50 feet OF the several bearing odes
countered this work, the most promising would
to be the very first lode encountered, and which
reached by the shaft depth of 10 feet The character
and the nature of the deposit in this formation
favorable than that observed in the other lodes underl
This should lie within a Of
200 feet from the shaft the Soofoot level the dia
mond drill operating this station the shaft
CACTUS
a little activity noticed in this issue past
week While the price did advance materially. the
shares found ready market W, A. Eaton, president
the company, over a year spent
looking properties Arizona to Alaska he had
at last found that up standard wanted.
and hopes that this VIII
tus company
1t is gold property in Granite county, Montana.
Clark and associates While property is 10 miles
from Butte and ten miles from railroad this is
sldered handicap as mill is at the mine and treat
the ore without any haulage expense The mill is some
what antiquated made to handle the orc sat-
! sfacorily by the addition some new machinery
ore Is free milling and who have examined
property reported favorably operated by tun-
nes of which the owners have driven 900 feet
| No announcement was made how they propose
finance the new property but presume payments are
crred as only option has been Cactus started
cut as copper company and after considerable time and
money were spent on their Arizona it given
up The stock at that time sold high So per
! sHATTUCK-
We have been advised by well informed that Shat
tuck VIII not dividend this month The quarterly
period would distribution to stockholders on April
~ the last dividend being paid January 20 of 50
per share.
our informant would tell us whether the dividend
"oo'u p' passed entirely simply deferred action
' STOCK IN the market confirms the deferring of de
vldend payment for rather sluggish of late
However, we believe one should be in hurry to
sell Shattuck at these prices They have great property
ara the developments at the mine very encour
aging