The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-07-20
Gossip Of Market and Mines by Minnear 4 Go.


average quality and of considerably better grade than
where shaft lode showed
y good Tor the last Is feet Drifting veins No and No
will not be commenced for four five weeks the
stricted capacity will the simultaneous
development of the three beds intermittent
be all o them.
The crosscut to the South Lake lode has gone ahead
steadily but present the driving is slow. due
ground The first shipment of the Evergreen
September.
This is being whipped into shape a rapid
for production, and while mill test been on
rock from these Evergreen odes South Lakes property
they certainly look exceedingly promising do
know of other property in Superior
that is so likely furnish favorable this
At prices, South Lake offers great speculative
possibilities, and while further needed
we doubt very much If will be called before the
of the and then the financing could be handled
the same manner it ago, when 10000
of the treasury stock disposed of SO "A share.
HoUGHToN COPPER
1t is quite possible sinking will be resumed
at this property in the very future showing
the wnze of late has been encouraging pres
the shaft deep, wnze has Attain
ed further depth of 400 feet making tota of 1920
At this depth. the ground has shown material improve
ment and drifts being directions on the
lode from the bottom Of the Wine. The management
as that they practically
the lode now being developed by Houghton Copper
Superior lode, and the
lode when the shaft has attained depth loo
HANCOCK
The slopes the 18th and 18th levels
are producing the richest rock coming from the mno
About 76 tons daily are being taken from
levels Total shipments averaging about 800
daily or sufficient to keep head working by
the first of the it is daily output
be aintai anlf from
should be sufficient to make steady increase above this
figure well allow "A selection. of the rock
underground.
iNsPlRATioN-
The advance in this issue the past phe-
nomenal and clearly indicates very strong
are accommodating the public participation in
the market is such bring about two point adj
vance has been shown
While it is quite likely Inspiration will enter the ranks
OF the commercial producers the part the year.
VIII not get its full stride for at least twelve months
VIII require that length of time to fully complete
the 10000 ton concentration of construc
ton.
The recent issue of six per cent convertible
bonds offered stockholders company was not very
well taken only $3.50 entire issue was subscribed
Tor by the stockholders This does
hhanca plans OF the company in
issue was underwrtten by J. Morgan & Co.
MARKET AND MINING BRIEFS
reports or the Calumet Heca
VIII be issued time the latter part this month
They are not likely show very promising as II should
Dc remembered that for the first three months operations
were far from being a normal rate
Houshton Coppers delinquent assessments due
May H. 1912, and July 15 1913 on the 18th o:
August
IRON blossom announced its regular quarterly dividend
Oh ten cents share payable July to stock of record
July 18TH This is the tenth ten cents share
PAID by this company and II is the company
now earning considerably in the disbursements
Chief Consodateds June were satisfactory
according to the best information The actual
ngues however will not be available for week During
the month OF May this company earned sic COS The semi
annual dividend Of five share Is payabIe August Sd
to stock Of record July 10th.
Nerr Lakes strength attracting
me hydraulic operations of removing overbuen of the
oeo oi the former lake disclosing vein system much
pe'er than was anticipated. company posted tho
regular quarterly dividend 25c payable September 18th
u STOCK OF record September Sales of this issue were
maze as nigh as S. though the latter 1sre tbere
an attempt at profit taking.
Son'asas Mining Company declared the regular dis
oursement OF thirty cents cents extra payab,e
August st This Is the third payment made by the
company this year. -~--'-.--'.t----
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