The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-05-16

win he increased although conrpanv 10
about soooo0O the transit and
IL may the cement rather build up a lara.
enough surplus finance the before increasing the
dividend rate are in favor
OF increasing the dividend Immediately
BUTTE q SUPERIOR
The announcement initial quarterly dividend co,,a
n surprise. although known this companv WINS
making big profits The general opinion was that the man
agement a big surplus created before
entering the dividend ranks company win
be able add to its surplus after paying the quarte
payable stock of record lime
18th. n n sRh,
The annual report which recently issued sfoW.j
earnings the 1913 of 1854 500 was
last six months rate
Of earnings maintained the year. profit would
have been sl5oOOO 2s9 1886 shares
outstanding.
During the 1913 great strides In bringing
about the present efficient handling Actual handl-
ing reduced from $3.50 per beginning OF
the to about So the part of the
Most of this decrease brought about nv inn
provements in the handling of the u the mill The
milling about per ton, compared with
1925 which average per ton for the
first half of the when only section of the mill
was in operation.
While these lower costs being brought about ,
great change for the better made extraction
and at the present Butte Superior is making recovery
of better than 900 whereas ago extraction was
only $50.
This handling accounts differs from
the other Jacing properties development
costs charged al operations The addition
al territory which has acquired during the pas wear
totals % acres and the of III
While Butte Superior is always considered zinc pro-
position the zine concentrates showed assay values OF
2oSf lead .479o 2419 and O5 ounces
Of gold to the ton The being handled
very nearly three tons of of concentrates
The company's main product. zinc produced at cost
OF rhe over four applying all credits
received for the other metals The eIs
pounds spelter at present quoted around Gv.
cents pound.
SHANNON
The profit of this company the quarter ending
March sis $466j. while during the preceding quar-
siO63S earned. The difference in the earnings
brought about by the smaller treated
lower yield of from outside properties
well the lower price received the metal
The total production the company quarter
2,922,sS9 pounds copper 1s4se
of gold This copper about 100000 pounds
less than for the quarter The
pound of copper for the 1857 while
during the last quarter of 1913 the cost 1897.
Only 14277 pound copper
Sold while during previous quarter 1926
erage price price the metal
alone $4,000 company's output.
During the past quarter the Shannon Copper Company
purchased $4,000 Railroad Companys
outstanding leaving only s2SOOoO provided
bonds by the Shannon Copper Company.
and as there is sinking fund provided company
is retiring these bonds when its finances permit.
IRON CAP
one of the most important transfers Of mining
in the Globe district made this when the
Cap company secured the Bird comprising claims.
6 of which patented Old Dominion and Superior
Boston, ii is reported have different
this property The first this group
week
NEW ARcADlAN--
Within short time sinking the level will
begun at this property Three rock drills have
received. so that the work will not in
erfered with by the shaft sinking estimated that
cutting $50 feet to the lode point will require about
four months time In meantime il is quite possible
a crosseu will he run the level.
The soofeot level drift has followed the vein
lance of % showing values equal to the best found on
the $50 level this level the vein has been OPEN
ed up for distance feet feet of which showed
commercial copper.
II was the original intention when the crosscut was
started on the 5ofoo level explore vein
In diamond drill holes that showed promise
VEN has not been reached with the
Zoo ieet east of the vein being developed. The vein
'h' company Is now working looked promising that
IL was decided to temporarily abandon original plans
ana devote all the energy opening up new
MICHIGAN
Inc annual report of this company shows deficit