The Calumet news., 1913-10-04
NEW CORNEliA-

I
the control the New cornela This option given
about years since that time the New Cor
rea property tsgressiyely explored the
supervision OF the Calumet Arizona corps of engi-
and the results obtained fully warranted the
ton Of the Calumet X directors taking
this property
New Cornelia is capitalized for s6OOQOOO divided into
100000 shares of value of 50 90 each At the time
the option granted hore 100000 shares out
standng The option included treasury stock wlich
amounted $4,000 shares muca the issued
stock could be This gave Calumet Arizona
option practically 10 cent Of the total capalza
ton and certificates issued the latter companv
when the payment made.
This payment called for expendur. Of about
100000 ana together the spent in develop
ing the property it investment Of prac-
tcally Sl.OOO.OO0.
Since the organization of the company the home Office
of New Corneia has been located Louis Mo al
Tough at the annual meeting whicn viii be held
in December. it is quite likely board representing the
Calumet will elected Offices
oc the company removed Calumet. Mich
During the past week there has been renewed buying in
this causing advance $3is numerous
bids Of s5Oc in the market these shares This buying
was altogether Western good many people who
arc friendly the Calumet Arizona management have
been picking up th;s stock and undoubtedly 5otis-
fled that eventually this property viii make good
1t viii be time before this property is a pro-
ducinE railroad problem will have to
re solved. according 10 statement Icy an official
oc the company definite plans have ye. been made
ooLoFlELD CONSOLIDATED
Official earnings of this company for the month OF
toalcd $l9S7 $4,000 pre-
vous month. 1t is expected the September earnings Will
show only slight decrease from the amount rcportod
in August Notwithstanding company losses
camp about two weeks
1t has been estimated that the financial less VIII bel
about $4,000, the heaviest item being tn burning o.
expensive transformer causing the loss Of several cec
uic and the flooding of Of the deep levels
Some of the comptnys railroad tracks also washed
cut though it is considered fortunate that
the loss and interruption greater was sus-
taned Had been for the preparation by the
asement for just such the financial loss
would have undoubtedly been much greater.
operations the mill only suspended for a lew
hours
SUITE ALEX SCOTT
The directors of this company declared fifty dly
dcnd payable October 30th 70 Stock OF record October
10Th This viii DE the third disbursement this year and
the fifty since the company organized OF like
amount
During tie month OF August, The main shaft sunk
sixty nine feet making total 365 feet since the first
Of February to Sepemter list During the months ofI
'une and July sinking operations were at standstl anu
all work was confined to driving on the 1900 foot level
where the main vein was encountered after prosecuting
about zoo feet from the shaft The ore at this point was
the best SO far exposed ON the companys property and
ran about Ga per cent copper and ~ ounces Of silver
to the ten.
Sinking OF the shaft will be continued the Zoo level
ard Notwithstanding this work the estimated earnings OF
Tie company ior September are $oOOO While the earn
nss for the past month well for the several months