The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-03-14
Gossip Of Market and Mines by Minnear 4 Go.
THE METAL

THE METAL
rs yet no Noticeable demand has appeared for "copper"
and Of the selling agencies have made further redue
lions their asking price notwithstanding the Producers
Statement much better than expected
The time Is close at hand when manufacturers should
enter tie metal market their quarterly requirements
The last buying resulted in the advance in copper
from Ia l5S, started with inquiries around the middle
of Decent en- According to cables, is be-
ng ll cents and during the past week
failure have been slightly lower.
Tie Producers showed production of 49,
pounds which of 4siii6O pounds per
day fer the short This is 10000 pounds greater
daily than the daily production January, and undoubed
the improved conditions in the Lake district
The domestic demand continues far from sat
sfactory, although! of copper went
consumption in the twentyeght days of February
used the previous month of thirty days.
Exports continue be the backbone of the metal market
and total deliveries in February S3S99S3
pounds according the Producers report These Feb
rry export highest like month FOR
the past six years.
But few realize what extent this Lake Superior strike
assisted in maintaining the strong position of the metal
While all the figures are not ob;anabe conservatives
Lake district lacks 5OOOooCO pounds
OF a production strike inauguraed
anes that getting out the amount of copper
they outpu;ting the early part Of last
CLIFF MINING
The annual statement of this company been issued
and shows balance $4GsI7
III of which is in cash and receivable. The
any dsbursed for development during past year
$685..
Agassiz states that shaft developments in the
horizon of the Kearsarse lode far satisfactory
and this work stopped early in During the last
Of the year. three diamond drill holes
complete the data the This
ton the territory Colony ynower
lodes So far the disclosures unsatisfactory
The Ashbed lode which is showing up favorably
the Phoenix of the Keweenaw will diamond drilled
Immediately completion of the work under way
oscEoLA CONSOLIDATED
The annual of this company been aud
while enough market would Indicate that it
than stockholders expected.
the earnings Ger the first SIX months of 1913 SAB
OOo WHALE at the end of the the had only
earned SSSe6i from the entire years operations indicat
ing a cash loss the months $37 O33 During
the last six months of 1913, this company produced
=?j670 POUNDS of refined copper which
Of II pound this brought the average
the to l2@0 for the 9O2P94O pounds produced
ing the first months made 1919. the
expense being !nc!uded in all cases
There in dividends $339OOO in excess OF earn
inss but even sfter paying out than the company
earned Csceola has balance of abi-
ties of $5493O0 which nearly 100000 in cash an
quick
Sockht lders will undoubtedly report closely in
an endeavor Ia ascertain the the company
batting the strike. What financial loss was is hard
to determine for even now the company is under
dnary expense owing the difficulties IN
addition the cash loss of $4,000 in the state
men the company has depleted main asset which is
the in the extent of 95e7O pounds
These costs in the past months again demonstra To-
the ACCESSIBILITY of operating property its maximum
capacity in order get the most efficient results as th,
overhead pound very high when only about
OF normal product is being made was the case in
the last six months O 1913.
The South Kearsarge and osccoa branches resumed
hosting September lapse of dleness of
iuy days Hosting at the North Kearsarge branch was
not started until 18TH or three months later
than the ether branches The South Kearsarge branch
which produced major portion of the output made a
very crediablo showing in holding down costs for the
year to ST. cents per pound which compare with the
North kca'saree branch cents and 2O79 PEI
pound for the old Osceoa. reason for the excessive
cost at the oseoa branch is the lower copper per
ton Of rock II beng only during the year 1913 while
- secured in 1912
osceola Consolidated had 43 men employed last July
9nd a. tie time of compiling the report Fchru
airy list was officially stated the Liz men
IN It's employ notwithstanding this fact, shipments arc
not yet takes a little time to get thu
organization lack its former efficiency. While no Off
cia statement has been made is hardly likely the com
pany any more than broke it's operations for
the months of january and February
While II" violence has been committed for the past few
DnlhS, the compnnY still maintains fnr.c nj dnu11i.s ~.