The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-05-09
Gossip Of Market and Mines by Minnear 4 Go.
THE MARKET

Prices higher during the week, and
pecaly during days. Toward end of the
considerable realizing taking of profits
by grasped the opportunity of picking cheap
2 stock weeks
The Mexican situation looked more alarming and crisis
lin affairs inevitable. stand
point administration should taking
aggressive stand in regards Mexican would
probably have only temporary depressing
W prices II the United into serious
straits that its would beginning
of the end of affair that has long been depressing
ke factor and that has freely the bears
i According advces yesterday. European
| somewhat complicated The illness of the Emperor of
Austria financial difficulties in Paris caused
ing.
The announcement after the closing yesterday OF the
failure of negotiations Kuhn Loeb Co..
Missouri Pacihcs financing entirely unexpected
as the advices during day indicated
the deal going through. Just what plan Missouri
cic directors will follow financing the company's obi
cations remains be but something must be done
Immediately $25,ooooOo outstanding June
| LIST
While the Missouri Pacific very heavy and
the in general bullsh. we cannot help but
feel that at the eleventh hour something will
tat VIII change the complexion of the situation such
a substantial the freight rates
| THE METAL
Inc demand for which appeared
easily satisfied and yesterday were that some of
the leading selling agencies asking price
from i4as cents to ii figure demand
was stimulated and considerable was
at the Acent figure for immediate delivery, but not as
much as might have been expected.
1t is hardly likely the Producers will cause
any particular buying cut from the IA cent
basis is all improbable.
UTAH COPPER
Figuring basis of i4O3 per pound for copper
The earnings of this company for the quarter
96j,O4 equivalent to 50 per share annually ON the
5SSOOO shares than go on the present
selling price of the shares.
The most interesting feature of quarterly report was
" reduction IN costs from 1887 cents pound the prev
Gus quarter to 9i23 the quarter decrease in
Sosts can be attributed in higher grade of ore
handled which 134l1% copper as compared with
l2l65% the previous This mprove was fore
casted in the annual miscellaneous earn
inss of Utah Copper credited operations
would be So pound again the showing made
during the past quarter will be further improved upon in
the summer months for in January and February the
pany was handicapped with frozen ore and snow storms
During the quarter of ore were treat
ed about 9fo tonnage mined with steam SHOW
els and the balance from underground operations
This latter work has discontinued with the ex
ception of small amount of development work which will
soon be completed according present plans From the
tonnage shipped total of 81 S655 pounds of copper wa
produced The surplus after the requirements for
the past quarter $175G34
Another item that believe OF great Importance in
estimating Utah Coppers the fact that the unsod
portion OF the companys copper nventored 500
cents per pound There S7S645O pounds of
on hand and in transit including sold and unsod ~ the
close of the quarter
The high regard the stockholders of this companv
nave Tor their property is shown some of the
larger stockholders recently made public In great many
instances. their holdings increased during the mas,
TWO years Notwithstanding the general depression.
WlNoNA-
During the DELINQUENT sale Of tb, oor,
pany was held at the Boston well AZ the nire
once. All that stock which delinquent
ana hed by Eastern shareholders sold Boston
once OF the company, and that the West was
so'u at inc mine office at Winona Mich. were sold
little over 22Oo shares places ranging in
from $2 to s3 Since the delinquent sale the stock has
shown more activity strength.
This issue recently has the subject Of much eoss
s 70 the steady increase in rock production much
o the talk has that the mine making
profits within month We cannot see thai thoro s
iof such optimism. Winona is the same wnona il has
aged and "A higher extraction is being obtaned from a.,
NM head which Is equipped with regrindcrs Rut ,n,i,.
s's at oes are high We understand that the lowes, cost
" SNOW" was close to 10 cents for "A pound of copper
ROCK secretion may improve results
D' ~ '" cannot snow the extraction tonnage of
~ w Z" Gun Oh hait mat amount, only head
being supplied with regrinders may be that who, ,
seconu mead is equipped with fine grinding
steady run of Winona's class of rock vii, sb g.,
' po"tS' out We consider the expectation that the
mime VIII he showing good surplus within n month "a
Ilinp M,