The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-03-01
Gossip Of Market and Mines by Minnear 4 Co..

fully treated in the smeiters at Utah Approximately
$50 100000 this property
coming above the $50 level with these values
above the $50 level it is only reasonable there
be considerable disseminated below this
and it only takes development show 1t up
WOLVERINE
The semi-annuai dividend declared yesterday. 1t
called for the distribution of IS share the
six months The dividend is payable April LIST to
stock of record March sth.
We understand that there will be hig
verne's production for the month of February In
first place IL is short month and then the eli
matte conditions have greatly hampered shipment These
items together with falling off in the yield
going to a very low product. quarters
less than four hundred of mineral for
WOLVERINE ARIZONA
The home Office of this company Calumet this week
received check for $4,000, being net smeltcr
returns from five hundred shipped recently
About three hundred tons of the grade suphde
in the bins at the awaiting shipment which
has been held owing to lack of The developments
at the mine satisfactory at the
the drift is in high grade and shows body
high with width of twenty feet. While this ore body
is not large the hopeful leading into
something better which would do better pay
penses they doing. We understand they have
very nearly $4,000 in the treasury at the present
NEW ARcADiAN-
The New Arcadian Copper company combining all act
ivy to shaft reached depth of 40 feet The
shaft which is sinking in copper bearing amy
gGaod lying in the approximate horizon of the Isle Roy
ale lode will be pushed 20 depth of $500 an
possible speed Sinking will be interrupted only Ions
enough to cut plat and west
the 500 level crosscuts will ntersec copper,
bearing formations distances and 100 feet re-
spectvely the results obtained previous diamond
Indie
worked at profit The middle formation in which the
shaft is sinking has shown "copper" held
to be the most likely of the three. equipment
adequate for the immediate future and dollar real
lied from assessments within the
used exclusively for work underground
ALeoMAH-
The Agomah Mining company is sinking steadily in the
so-caled Algomah body. The shaft is now little
over $50 feet in depth a 2lO foot
level is sinking the southery the Lake lode
is in considerably 1000 feet and seemingly has
beyond the point where the extension should have
been inersected according to original calculations
we'll defined swing to the eastward is noticeable the
south drifts of the Lake mine adjoining.
IDENTIFY believed In quarters swing indicates
the true strike of the Lake lode Agomah territory
and that instead of finding the Lake the middle
and western portions. the extension will head
ing into the eastern sandstone and the exploratory
the Lake lode shape an exaggerated letter : with
the upper tail in South Lake territory the lower tail
III Asomah territory The north drift the
el in the Algomah shaft, following the body in
northeaserly direction finally several
thousand feet south of the Lake boundary thus in a
measure bearing out the foregoing theory results
of Asomahs exploratory work in the horizon of the Lake
bed to date is distinctly dscouraging really
proving anything in particular. interesting to
follow DEVELOPMENTS limi its uhe
drilling is resumed this area which carries the IN
deray of the South Lake lodes
The Indiana Mining company, centering all activity in
shaft work, has attained depth of 1895 feet The fa
nous Indiana felstc should be encountered within
the next 100 feet The been sinking in unusual
ly wet ground, which, though accepted as good sign
of mineral values to follow, proved rather trouble
seine The volume of the water is great, and is
banded without much difficulty, but its effect on TN,
miners is bad the causing sores and ratiops ON
'te persons of the workera
oNECO-
The oneco Copper Mining company continues to drift
north on the Bird and 18th levels and both north and
south on the 18th level The 18th level north drift has
been into fair copper ground several hundred feet
and similar satisfactory showing is now being made
on the Bird level The shaft remains temporarily bot
toned at depth of about 1850 feet Though occasional
pockets of have disclosed in this work Incl
general result is far from satisfactory nothing more
than development of low can reasonably he
expected considering the rather poor showing made fol
date.
NEW BALTIC
The Now Baltic Copper Mining company has not vet re-
suned shaft sinking below depth of 500 feet as orig
rally planned and continues connne its activity to
with the object reaching an unnamed con-
per bearing amygdalod previously disclosed in diamond
drilling The crosscut which driving west on the zoo