The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-06-06
Gossip Of Market and Mines by Minnear 4 Co.


drilling i'm the vicinity .,
Lake Mcdora, and the drill outfit will be in the VI.
vnity OF Garden City The first series of holes on tho
Garden City the vein at depth of about 400 and
the second series will be started which show the for
nation 500 foot depth.
The North Cliff property which is held under option nv
the Keweenaw Copper Company, being explored by the
company. Two diamond drill are working o
this far. four holes have driven two Of
which showed the Ashbed lode that point to be we'll
mneralzed II drilling operations this North prop
erty satisfactory is quite likeky it be further
explored with shaft work before the option expires or is
exercised.
NEW coRNELiA-
This accumulated by those who are
in position know the value of the property. We are
given to understand that the method treatment has
practically decided upon, the management can
very closely figure the earning power company
While there has apprecabe advance in the price
of the stock at times there offerings any price
within and later this accumulation will
be reflected by a higher level of prices
WOLVERINE
greater portion of this companys rock tonnage now
coming from the foot of the vein that left
previous operations This ground nearly as rich
that extracted be broken very cheap especial
ly since Inauguration the type of drill
ling machine. While positive figures obtainable
ground the foot of the extracted
before getting foowall point recently "a
feet of ground were taken out before reaching the oow
although it is the ordinary, waow occurred
in the vein at this place.
Wolverine by depends the tonnage obtained
from this method of mining, has approximately 800
feet virgin ground in No. shaft consd-
cradle Then again, this company piece Of
ground the rock from which be taken
sub shaft from the bottom OF This shaft will
depth of from 500 600 open quite
large tonnage.
The output of Wolverine for May 415 tons of
eral This companys mineral about 77e5 refined
copper This product, while not few years
back when the property in its zenith, is well with
month for the eighteen and produc-
ton that be expected from this mine now on
At this rate of production, Wolverine will approx.
matey 100000 pounds of refined copper annually.
uring 81 which about a higher
than in 1912, this companys earnings s5i
per share IA metal OF course it should re-
membered that Wolverine qudatng proposition and
that from rock of a much lower grade will be hand
led Sometime past rock that yielded of %
pounds refined copper to the ton was mined while the
average little in of Is pounds plain
y that costs for producing from this
grade of rock must necessarily be higher
SOUTH LAKE
cut from the shaft to the South by
drill holes Nos. 3. A. and The in
feet and two machines are working 1t is quite possible
this crosscut will be advanced the from to
200 feet month if no harder ground than that far
countered met with Operations the socaled Eerv
lodes met in shaft sinking be resumed next
week The crosscut, which had wall of
No. lode at the time of suspension will be through
the formation and drift started Plas also
tho ztla
from each Of these stations within short time The
at the 6OO-foot level has just been completed The rock
crushing plant is ready Evergreen
Will be crushed and sent to the mill it is taken
out 1t has not yet been decided what mill will do the
work. but the probability is plant will
handle the tonnage.
VICTORIA
We understand that the recently
the 25oo-foot level developing the rich
rock opened the 22d Esd develop
ment practically assures good ground for
considerable lateral extension, would insure the mine a
long life on this formation alone The development is
generally regarded raising Victoria of the grade
class and placing her level with the better of
amysdaoid mines, although absolute proving is
future The lode is 40 feet wide average
l2O feet it has been drifted upon east at
level The shaft has been sunk
100 feet is now being timbered The general campaign
VIII continue TO be directed toward opening the lode at
depth and to the of the output
approximately 100 monthly.
THE PORPHYRiEs-
Chino Nevada Consolidated, Ray Consolidated Utah
copper have declared regular quarterly dividends
cordng to the action in the market is
quite evident that but few looking increases The
dividends were Is cents, S7a cents 37k rs
spectivey and the stocks sold ex-dvidend yesterday
There has been little selling Chino and Utah Copper