The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-05-09

the last quarter of 1918 recovery was % 80 pound,
copper against 2726 the previous quarter There
stripped during the quarter 230,S45 yards
of material; Of this only es2255 cubic yards or
shipped the balance being discard
There retired $4,000 of the SO outstanding
leaving only s2i,5oo outstanding quarter
OF original of ss.5OoOOO. The remainder will he
redeemed July LIST, at which time the feature
terminates.
This past quarterly showing is the since the
company organized, and according report the
outlook for the coming quarter indicates that produc-
ton will maintained practically rate as for
| the past quarter.
ISLE ROYAlE-
This company preparing to develop Portage
lode more extensively by reopenns No 1 shaft The lode
| which touched for "A long period o. years was
reopened about and half the Goth
level Drifts started the 26th 22nd AS
they the forma-
ton abandoned in the early days commercial could
be made to show profit with modern mining
and milling methods The vein is very bunchy the
recent exploration had continued before
1t was established that the rich spots would bring
put to profitable average The work reached
point where the convinced the show
ing warrants attack of the vein large scale the
decision to reopen No. shaft has followed.
FRANKLIN
Another shipment 1000 tons of Aouez conslomeras
rock from the sd level will handled at the AloIez-
Centennial mill During "a raise has been
started from the north drift and about feet The
drift now covers 145 feet Although the time has
definitely fixed the big compressor wills into
and operations thereafter expanded rapidly
until production well before the strike
enriched by contributions Aouez
is attained.
No announcement has been made regarding the rehabi-
'aon OF Frankns finances and the fear of
is preventing the accumulation stock by those who
friendly company.
PRODUCERS STATEMENT
The increase of only 5727,6S2 pounds marketable
supply of copper hand as bad as expected
The production for the of April as reported was
the highest since the American Copper
ton has been compiling the reports, OO5sl
pounds an increase of about 100000 pounds from last
month and 1S,OOO0O0 pounds greater than a year ago
Ms was indicated by the figures April exports
showed decrease as compared with the previous
OF nearly 100000 pounds Domestic deliveries were o.
$4,000 pounds they showed decrease of over
100000 pounds The total consumption was 145772S49
pounds.
Had it not been for this extraordinarily large production
the report would have shown about break be-
tween production consumption.
NEVADA CONSOLIDATED
The weakness in his issue reported is due TO au
alton of Philadelphia holdings by embarass
ment of banking city and the deficit Of
after paying the regular quarterly of as cents
share.
This company produced 155e92 pounds of copper dur
ing the quarter from the shipment 7s254 tons of dry
ore or yield of 1880 copper This produced
" cost OF lo21 cents per pound including plant depre
cation ana all charges except extinguishment The
toa' earnings were sSO1440 and a basis
vi ifil cents for the metal At the end quarter
there were 663026 pounds coppr hand and in tran
sit both sold unsod
COPPER RANGE CONSOLIDATED
The annual report of this company was not as good as
was hoped 1t showed net earnings only $3.50 for the
year 1918 or s59S9G5 less than dividends distributed
This is at the rate of only s1.25 per share
The Consolidated Companys share of the prodction AFT
er dcducting onehalf output of the Champion which
goes to the ST. Marys Company through its ownership Of
'oo Of the stock was S767S59 pounds decrease OF TO-
ing Il" expenses was made at I'LL cents per
pound as compared with 1851 year ago There was ex
ehued turing the s230S35 installation of re-
'''is machinery and this all charged to costs This
'e c"useu an increase in the of 929 cents per
o anu When is taken into consideration expense
~ '" inc company was put in protecting property
ing '"e srke' TINS cost of II cents is very crcdabe
showing.
~ 'opper contents in the rock showed a marked i'm
e"eht III 1913 over previous years is true the COM
'any is discardng quite large percentage
'' !" resumng operations after forced shut down IL
quite likely the better Slopes were extracted The Weld
i'i" was 2o2f pounds of AZ pounds of con-
Ter per ton Of rock STAMPED
The Railroad Company helped to cut down tho no, rn
"ss OF the Consolidated Company by showing a deficit of
'Vfo from the years operations where as in the vcar
~ "ieh the mines were operated to capacity the
"' showed profit of s1O3755. This deficit was due