The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-02-14
Gossip Of Market and Mines by Minnear 4 Go.

age dscouragngy The south drift looking very soo'
al the present Wyandot's prospects promnen
Lake mining who recently made examination o
the property declared: Il would be the fool to
Wyando surely will make Il mine, much less would
be fool will not Two machines working
in each drift The force cut nearly by the
strike and in view Of the companys financial position il
is unlikely it will increased regardless of the labor
situation until developments at the property give more
encouragement than at present.
FRANKLIN
Franklin this entered upon it's first work the
strike Driving of the the thirty second
level resumed with working
three eght-hour shifts These doing their own
trammng laying their track doing all other work
incident to the prosecuting Work large scale will
undertaken till the labor difficulties The
in $50 feet and expected the Aoue1
congomerac in short time probably within weeks, cut
ting this formation 1000 feet deeper bottom
workings of the old mine. The Improvement which this
formation has shown with depth properties
the disclosures of this awaited muon
interests The intention of the is understood
be continue the through all formations
the territory the Pewabic, Calumet Hecla conglOmerae,
osceola and Kearsarge requiring years
ry
NEW ARcADiAN-
Drifting the amygdaoid vein opened property
in the east crosscut at $50 feet is well
keenest public interest attends developments. The
agement is exercising caution keep New Arcadan
going off halfcocked' and will only the drifting
far that results have been entirely satisfactory an
unidentified vein to deal with there nothing indicate
whether the vein will better poorer
rich rock developed by management
adhere "a policy. Two ma
chimes being worked in the drifting in
each direction.
CHINO
The quarterly report this company, ending December
3ls has been published shows $SI2OS7 az
compared with $994SS9 the previous quarter During the
quarter just ended there paid in dividends $6454Oj
leaving surplus sl66.632 This the total earn
ngs COR the year $33Sl,55S quite 81 per ON
the 100000 shares outstanding this is after allowing
the interest Outstanding bonds.
There outstanding only s2365OO Of the GO
tibe bonds the end quarter When these
have converted called company will have Il
total of $4,000 shares outstanding
In getting out these quarterly reports soon after tho
quarter ends the company necessarily estimGte
Siderable for takes practically months from the time
# breaking the until the refined product is ready FOR
the market In figuring the last quarters profits the
earnings based 1928 metal market, while
during the preceding 10 the esti
mated price the first quarter 1913 IT can
readily be that there possibility wide
lien in these quarterly figures and the complete figures
lie years operations.
Tie earnings for the past quarter was
increase in and smaller production The
past quarter 942 compared with
previous quarter After deductng miscellaneous earn
ngs the net cost was 911 There were produced
Turing quarter ending December Sls S97Oi3S pounds
If copper OF 1216,565 pounds nowthsand-
ng of mied $500 greater
rhe average percentage of copper 2OS the
quarter. decrease Of Is compared the
igures third quarter of the year. The actual cx
only e55i% 27?6 pounds copper the ton
whereas the show 46 pounds copper the ton
Indicating in tangs Of 1874 pounds to the ton
the quarter, the company carried gOSi-
pounds of copper This includes ON hand and the
transit both sold and unsod The unsod portion
at II cents. II
mine high grade that not require concen
ration but which will be shipped direct to the smeter
Turing the year 1914 =
,EWEENAw- -
There has been steady accumulation going ON in this
and it certainly looks will sell higher Offer n
becoming scarccr and continued absorption shouI
asiy put the price up to s.. Z,
Reports from the mine continue 10 vcry gratifying In
leaning the 800 level old crosscu east r. the shaft o.