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

tn the sth. II passed through splendid copper SOM.
ing mass and shot and was bottomed in an e,o.n.
grade, when discontinued II is thought nom the
in which the disclosures on the two drifts occurred IN
Sth level, that copper bearing shoot may apox
winze and then spread out downward.
one drill has been stopped, one is being ompoyos
winze and the third is drifting ON the eighth love,
nCrth.
SOUTH LAKE
\ station has been cut at the 400 foot level OF b G
Lake shaft The crosscut to the so-caled Evergreen -
is also being opened Whether this will be pushed .,
Their at this time or later would to depend nm -
number of that be hired. The sinking n :,
shaft has been resumed.
The ground at this level would appear to he a r,,.
wide lode divided here and there by horses" or moon.
of trap Copper is shown often in commsr
quantities in the vein matter.
owing the thickness of the ovcrburden down il -
swampy district under which the four South I,L ,,
encountered by diamond drills it is probaba h,
order to he perfectly cutting through into -
clay above that the to these loies will no ,
the 9th instead Of the 9Th level. This revel win
reached if the sinking proceeds at the same rate as h
fcre, 90 feet month in about three months
NEW ARCADlAN-
will he called by this compan, in n.|
near future. The New Arcadian organized in ,oro
1909 and assessment OF 81 per share was called h,
March 1910, since which time demands have tss,
made stockholders The last report gave bills M,
able of $4,000. with cash hand, 1924 The shaft han
depth $50 fee, and when the $50 level which
is the capacity of the hosting engine is reached extens
drifting will bc carried on in both directions
eiRoUx-
The reason for the steady decline this issue vhIe
lights that necessity further financing and it |
be accomplished by the consolidation of several Fl
properties The Consolidated company VIII then issu
convertible bonds extent 100000 which sho
be ample equip the properties thoroughly and erect
concentrating plant of which the company is badly Il
need.
During the past l4O.S77 Of concenI
tratej while only 40 tons mined smelling Tn
which company had contract to handle i?oO tons daily
For the first three months of this year. shipping nj
maximum tonnage contracted Tor, the deficit CON
pany $4,000 The main for this loss is nj
excessive reduction which from 80 10 per cen
If the value of the The average copper tenI
OF the extracted is close to per and there Al
why this grade of be handled prof
as number Of companies making money lowe
percentage
Butte Ely of the companies enter in the con
sodation and which is controlled by GirouS thous
stock ownership, has practically the only suppl
available in the Ely district, which utilized by |
new company
The Chairman Consolidated, another of the comranr|
going into the deal. has twelve claims about mIc|
from Ely and has considerable proven suitable foI
iuxing
The Coppermines company evidently is the mos|
needed by Giroux, they have 5000 suab
for lses, well rights the aeptoe vail
ley and undoubtedly the concentrating plant viii
established on this property.
The plans announced state that companI
will have shares par value $50 oroux stock
holders will receive the new for the old
this requiring 100000 shares while 10000 will
retained in the treasury the exchange bonds 81
sued 2oOoC shares for Butte Ely and the balance $500
shares. for the Coppermnes and Chairman Consolidate
stockholders
BOHEMIA.
why any one would part with their holdings in thlI
the prices made recently, is mystlfyng sale
have been made at s56, while the treasury
equal t" $l66 share irrespective the 900 acres
mineral lands they The interest received ON ih
cash pays all expenses and the cas-
balance to the extent of $i,36o annually No work IA
eeh done on the property for the past two years "I
management proposes to await Developments on the al
joining properties So any favorable news from inda"
should be reflected in The price of this issue
CHINO.
Some time ago 1t announced that the initial div
dend this stock could expected early in June TT
latest advises state II quite likely II will be declare
next week disbursement of 80 cents is looked FOR WINK
could he easily maintained quarterly from the earning
on the present production and metal market
NEVADA CONSOLIDATED
The directors of this company will next week
dividend action. The regular dividend Of 37ls cents
Ne paid and possibly extra of ~. or Is cents III
extra dividend should be considered in the nature u
Iar'ia return of the principal An extra dsburse"e
~ l2'a cents would require about s25o,OOO. as there