The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-05-24
NEW YORK MARKET

NEW YORK Market
The past week had happenings enough to cause con
siderable activity stock market but these ordinarily
market movers namely city bonds sale, Chi
nese loan and rehnancng Francisco lines. fell ON
barren ground they hardly caused movement enough
to know which way they wished go,
While the New York bond sale was success inasmueh
as the entire disposed Of for the pur-
1hasers as the could be purchased the following
day at par less. The Chinese loan could have
given the London market for advance but ii
likewise fell Hat as factor.
California Petroleum aspirant for the leather
medal week declining low level Steel holds
firm reflect falling OF in the demand FOR
product This stock. however, is kept from the shor
interest which be quite large
THE METAL MARKET
The strong copper metal condition was again cmpha
this when the export figures were given out
the ending May % exports toalled 1o1l2 tons
since May l. 3I2O7 tons $500 greater than tn,
same period last year. With nine days more in this
month, shipments should be AS large foi April.
London reports indications manufacturers taking
copper quite peceptibe since the Balkan uoub
lie been ironed somewhat. During the past few
deliveries have been well in of correspond
ing period 1912. when prices about the
present
The European demand for the metal which was cur
tailed by the political trouble is again making itself man
Tested the demand for spot copper is large
The domestic consumption copper is suI quite heavy
but demand he principally FOR immediate delivery
and selling agencies are finding difficulty
plying with demand. With this world wide demand
copper Indications that the producers
port will show another shrinkage in supply hand
kEweENAw COPPER
Number ~ diamond drill penetrated the Ashbct
lode at a depth of feet where cut carried
1,I. III,
drilling will DE continued this point days
longer when the outfit be
agement explore this portion the Ashbct
lode thoroughly
The the No ~ hole is entirely up eNpcc.
u,tions and proves the vein to bc in position
INDIANA
Very heavy copper has been encountered in the las
T. feet in the north eastern drift
The felsite where tn,
this point showed width of about thirty
when was
first started which shortly the passed
through this level. The is along the footwal
against bed trap 1t very likely that will
be driven the lode and will he entered
from u level.
\ fclsite penetrated by second hole bore,
bv drill the 1iOO- foot level, the bottom OF
the shaft the Indiana. but it is find
holes Nos and 1t, however. considerable,
copper That the testc has been found. and found min
eraized, shows that the shaft within the
remarkable formations and it is than likely IA ques
ton of merely persistent search when the
strata will be disclosed.
The biologists who studied this region seem t,
incline to the view that conglomcrat,
indicates the pecularties Of the This.
Bohemia and the properties the follows tn,
course of the regular series show that as
approaches the Indiana. portion of it pushed
ward to- the northwest then on for quit,
distance. when it returns in the way
position This action numerous cracks or Tissues
not only the series but also places var.
ous beds. Subsequently clsite flowed in and filled
these cracks assures and then probably
ed of the thereafter came the min
oraization which is not limited to the felsite. several
anygdaoids and conglomerates having been met with
that carried copper of these, by shaft
at about the 9Th level being spoken of by those al lin,
mine "a mine in itself if persisted with length and
depth y third hole is being drilled.
ISLE RoYALE-
The more that Portage lode of the
isle Royae the certain it s that the find" is =,
success II about northwest of the Isle
Royale lode ON the eth levels it's best show
ing is to the north up under No I shaft which is
close to the boundary This shaft which the timber was
almost completely consumed by fire in December 1904
had three compartments and has a depth of 1895 feet
There is considerable talk that with continued favorable
showing of this lode other levels that No may ne
etimbered and mine through crosscuts frop,
the lS Royae lode Th" rock shaft house and engine
house in good condition. hut a hoist and compressor
would have be installed The lode i'm some nlaces h,,
width of 80 feet and has abundance stamp barrel