The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-11-15
Gossip Of Market and Mines by Minnear 4 Go.


owing the amoun of mud carried In the water
the river it is unfit Tor use but by Allowing II TO hte'
through the earth into the we's the niue anu sa"d are
practically eliminated
There were produced during the quarter i1'o''iS'
pounds OF copper from S'''ls" IONS {" ore 'u "s'"E
LIZ per cent copper The to'a' tons in'eo are niue
less than that for the previous quarter "'e TIC e''
contents were o2 per cent greater a'housn 1t was Vi 1t"
average value for the year as the h's quarter "ssSe
la and l7O per cent for the second quarter
The daily average tonnage handled was 6'2o2' u"-
doubleday the next report VIII show considerable increase
in the daily tonnage as tho eighth and last section of the
mill was completed and put into operation on October attn
The maximum capacity OF the MN Is expected TO De SVoo
tons daily and an Official OF the company stated that II
Is quite hk'iy inns inquire VIII DC reacheo oy next feoru'
During the past quarter 1850 feet Of underground OPP
eninss were made making the total developed To date
S559SO feet or about sXtyseven miles Only two shafts
are being operated at the present time and the tonnage
produced 1000 to 5000 tons per day. is remarkable and
is only made possible by the use OF the modern methods in
underground work and hosting.
The mine is fuly equipped with electrical haulage ana
the is transported the shafts in trains composed of
three ton cars These tram cars are dumped into ore
pockets from which the twelve ton skps used are filled
When the maximum milling capacity is reached that is
5000 tons of daily. Ray Consolidated should be
ducng over SoOOoooo pounds annually Even figuring ON
en-cent cost, which should be reduced with the in
creased output and hfteencent selling price this COM
ny should earn very close to $500 per share on the l.
40 4O7 shares outstanding
UTAH COPPER
The features of the report of this companys operations
for the quarter ending Septcmber 3oth were n larger
production greater and decrease in the net earn
ngs Notwithstanding the decrease i'm the net earnings
the profits were double the present dividend requ cments
The output for the quarter was s22s742S pounds or
copper compares S17S5,4S pounds pre-.
yious quarter This production was made ut a cost of
cents AS COMPARED with cost of 1898 the second
quarter of this year
The net earnings of the company were 81 33q Will,
&22lS75S were earned the previous quarter This in both
instances, includes dividends
pany's holdings Nevada Consolidated, amounting o
S357lSS. The quarterly dividend
quements cali for distribution of $i1S6695 SO it can
readily that this company has margin safety
above dividend requirements equalled by very COM
panies. These earnings for both quarters were on ff.
teen cent selling price.
The September output he second largest in
history Of the COMPANY and during that perod lower
grade of ore was handled the average being 1853 per
cent compared l2S average during the pre-
vious quarter y gradual Improvement expected
grade of ore treated during the present quarter as str
ring has advanced So that it is possible to operate some
Il grade The handling Of
the grade OF slight advance tbs
costs So il is ouo likely the COSTS for IN. last oaror
will be back to normal or under nine cents per pound
During the quarter 1854 cubic yards more of the
Gaping were removed as compared with the previous
quarter. making quarter l.422
yards, 100000 tons Of dirt
CHINO
This company for the quarter ending septemDer soth
showed total income Of s9s4S9O or equivalent to abou,
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