The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-02-24
AMERICAN SAGINAW. CALUMET & ARIZONA

Globe win be a very satisfactory statement
AME RIcAN SAGINAW. CALUMET & ARIZONA
Stockholders of American Saginaw have been given an
opportunity reject proposition sale
of their property Calumet Arizona. Circulars and
notices of the call for the annual meeting
stockholders the past Besides of dl-
rectors. will taken annual meeting ON
March 10th in regards the proposed prop
erty Calumet Arizona
Negotiations for the absorption of American Sagi-
property by the Calumet & Arizona company have
been pending for time past. The proposition Of
ered the American Saginaw stockholders 10000 shares
of Calumet Arizona in fun payment of American
Saginaw property This is equivalent about Calu-
& Arizona every ca shares American Saginaw
BESIDES the 5000 shares Calumet Arizona Amer
Saginaw holds in treasury of Calumet
81 Arizona which will also be distributed providing the
proposition is accepted by Saginaw stock
holders
Including the 500 shares of Calumet Arizona stock,
shareholders oil American saginaw would receive one
share of Calumet Arizona about 595 shares they
hold With Calumet Arizona selling $780, American
Saginaw on this proposition is $40 a share
This proposition certainly looks like good one to
American Saginaw they will Immediately
participate in dividends Calumet & Arizona is paying
at the present time Sc a year. better than SO on
selling price of 500.
Then again. it would require considerable capital 10
develop the American Saginaw property, while Calumet
& Arizona develop this territory very economically
through their Junction shaft In the circular
that those familiar With the district estimate that
would require depth of 800 To $500 feet before
much could be deveoped. sink to this depth
would require amount of money as the
water problem the to 2OO foot depth is to
be reekoned with. Undoubtedly deal viii go through
and there seems reason why American should not be-
selling around SO "A share.
Calumet Arizona has ALAS shares in the treasury.
so that viii not be necessary increase capai-
"uon OF TINS company in absorbing the American prop
erty Announcement was made this OF quar-
erly dividend Calumet Arizona, payable March cath
t" stock of record March eth. This what was gem
orally expected.
Developments the Now CornelIa property in which
lies about sixty miles southwest of Yuma are reported to
be looking very promising II a grade dissenrin-
a'ed ore proposition, and undoubtedly arrangement
WIN De maze al an early date to build concentraor. In
TACT we understand that some OF the machinery
panies are now figuring plans and costs
SUPERIOR
Superior on Monday. started rock shipments to the
centennial Aione2 MILL Increasing the about
900 tons daily 300 to $50 tons handled
in the old Atlantic mill, idle. The Centennial Al
ouez mill has been practically rebuilt in recent years.
the district and efficiency counts particularly In the
treatment of such rock Superior produces The talngs
loss in the old Atlantic mill has always been heavy Work
III the mine Is resulting In the development
copper ground in the opened by the No
shaft
me superior main vein, which in rrccn months has
been neglected for the lode is again COM
ing INTO its own and il showing ground in the lower
reaches The West lode however premier deposit and
dscloses excellent practically all eyes
heiow the 9Th Where crosscus at and above
the 9Th level little in the way commercial ground was
disclosed The West lode below 9Th level and within
Tue MINUS oil present openings is unquestionaby Of
'he very richest amygdaloids opened district
me NO SHAFT is sinking steadily. with the 18th level
as 's objective point The two shafts which already
connected ON the 18th level will a second
dfiH on the 18th Crosscuts and drifts a number Of
e'eis ~ TINS SHAFT have quite thoroughly explored The
country in the immediate vicinity. and their failure
disclose copper deposits of value Is distinctly
dscouraging II is hoped that when drifting begins on
the 18th level the north pick up the souhey
extension Of the deposit now under DEVELOPMENT in No
shaft Little or cement Is sought in all
territory lying south and between shaft the
Section le shaft of the Atlantic Mining company
SOUTH LAKE
INTO further copper ground a depth $50 feet.
new showing being the fourth deposit in this
WORK ABOUT feet of copper ground opened at last
reports The frequency Of the deposits leads the belief
that the upper horizon of the
tapped -Four deposits. possibly veins within a
distance of 40 feet The shaft which is down sS4