The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-02-07
NIPPISSING-


aging to While the decline has very or
Derby has steady and good Shares
have been distributed the reaction.
to the financial reports that are sent
with the dividend the basis figure profits
Nipssing did not earn cash in bank
Gre i'm transit smeltcr. and sacked mine
ready for shipment otaed $l2is as of date Of
January 90 1914 the quarter $27s2sS
OF course the financial re-
port sent out dividend checks is very meager and
satisfactory for this decrease but
given, stockholders draw only ono
conclusion that Nlpissng did the last
271s cent dividend pad by about s2sooOO This is
tainy dscouragng for generally believed with
grade mill. Nplssing would be earning better
hfty cents quartey.
Requests secretary of the company an
explanation failed to receive reply and it looks
viii have to the annual report before getting a
tailed of the earnings The question
raised, Npissng reached its zenith for high earning
power? While mining milling high grade ore, big
profits certainly made for stockholders looks
If from lower grade will 10 handled, and
while this will undoubtedly prolong the fife the
y, the annual returns will IS great
CoRBiN COPPER
There significant buying this issue
and this has given color the that the
has successful getting financial aid
which has been badly needed
amounting so a share called in
1913 ana this heavy drain stockholders.
The last dollar called. payable November l4th was not
sponded by stockholders in general Some Of the
insiders, is stated paid their assessments and su
cen funds secured meet of the
the Gambrinus claims and extension of days
obtained the balance. This extension will enable
the in of the back assessments.
The financing scheme understand it, calls for
assessment paid. those people with whom
i,tions being carried of the best in
the copper mining business. so that if the deal goes
through, likely will Corbin Copper shares will
much stronger hands.
The Gamornus property has promising future,
the management is very confident valuable
will developed these claims. Shaft sinking going
ahead rapidly possible At present the shaft
been put down about 800 Crosscuts
vein the 100 and 200 levels Considering depth
showing point was quite satisfactory. TIE
Gambrinus group of claims adoins Anacondas Original
and Gagnon mines the West, and there is reason
why Corbin Copper should have the extension
veins that made both these mines famous.
UTAH COPPER
This company defendant, a si2OOOOOO
cd by Col L. \. Wall The leading up to this suit
was the condemnation proceedings for a right -of
over claim owned by the Colonel claims
COc for the underground o that parcel of land
Utah Copper people state that this claim outside the
main belt and there very likelihood
having any great mineral value.
COL Wall owned threequarter interest property
which went form the Utah Copper Company. This he
od for part cash the balance STOCK
his stock holdings figure very below present
lrices Up to the time disposng of his holdings. he
was director of the company At the time sold
his Utah Copper holdings. he rendered resignation
director of the company and since harassed
the management in possible manner. according
their phase of the situation
1t is reported that Utah Copper
quarter ending December 81, 1913 dividend
Utah Copper would be earning at the rae of $3.50
public the latter part of March.
The Bingham IL Garfield X. II. bonds outstanding which
are convertible into stock of the Utah Copper Company
$50 per share will not be convertible after July
of this issue, total of 100000 will March
at no. The convertible feature of these Railroad bonds
probably working against advance in the stock
anything $55 stock is an incentive
tiona profit for the holders they undoubtedly
will take advantage of any this
than have the bonds called.
MARKET AND MINING BRIEFS
Ray Consolidated for the month of January produced
100000 pounds of which 5,2s2s7
December.
Chino copeer's outpu; for January 6l3I.SiO
is the monthly production in the history Of the
company ana is pounds greater than the Decem
bcr figures
Cobalt lssues inclined to be sympatheticay veal;
with Npissng. which has been holding strong
at ~ is now offered at 81 Is.
Anaconda reports production for the Falls and