The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-03-07

bonds would certainly be ahead disposng
inss now and waiting until discount offered
which almost present conditions OF
the bond market use extreme caution in
scunizing the which any purchased.
Wild eating in bonds similar wild eating in
stocks is in evidence.
SOUTH LAKE
At the Stockholders meeting Of this company
held the past week the Of Directors
made by the designations John C. Watson ASH
ley Watson and Frederick Holt hcd 10y election
of Thomas = Woods l. J. Sturgis Edward c. Robin
SON The last three named together r. NJ Edwards
and A. c. Paine comprise Board of Directors Tn
doubtedly when the Board to organize II NJ Ed
wards will be elected President according to information
we have received.
The stepping Watson crowd is a big surprise.
for it generally this was Mr. watsons
tavofe and that he would dispose Of his holdings
We Understand thai he was offered
very attractive figures lac control.
More less has maintained in the affairs
ct This company for several months past this action
on the Of Mr. Watson that his holdings
were taken over sometime Then again. no official
announcement has been made were the UNDER
writers of the 10000 shares treasury stock disposed OF
last 1t is reported that the American
Smelling Refining were the underwriters and
secured considerably 5000 shares Of South
Lake stock at this time. The Smelling people are inter-
ested in other Edwards quite reasonable
To believe these reports
1t would not be at all surprising that the Watson
management has been eliminated Of the announce
ment Of a consolidation and South Lake Negotia
tons along these lines were always rejected by
Mr..
Work at the property up the past week thai
is putting fire boilers and placing the nu,nps a,d
machinery in shape. Pumping probably be started
the coming week Very little time will required in do
Ing this work this shaft but little lateral openings,
ISLE RoYALE-
During the last weeks Royale has made sub
sanal additions considerable number OF
strikers having turned and old employees who
had left the district having back Daily shipments
eral DAYS of the substantially exceeded that
hgure Drifting has been Grand Portage
lode on the 26th and 18th No shaft This
formation continues bunchy with alternating stretches Of
very rich and lean material the whole however overag
ing commercial No shaft not yet resumed OPERA
lions. Repairs still in progress
MARKET AND MINING BRIEFS
Mckinley Darraeh declared the regular quarterly divi
dend at SO and the usual extra amount payable
April LIST stock March 18th
Louisville Nashville railroads lost their suit
with the States of Tennessee Alabama on ga cen,
passenger rate.
Reading All companies January surplus after charges
and taxes was $6S742S, decrease of s1.452ss0
Lake Superior Companies annual reports will probab,,
receive attention year than in the past 70,
stockholders will be very learn the actual cost ~
carrying the labor strike.
Chesapeake 6 Ohio weakness due to possibilities that
dividends the stocks maintained at the cur
rent rate the restrictions placed on the COM
y with the sale of the $330OOOOO necesstated the
company setting aside earnings which il is
now paying dividends
Great Northern January was $346951 tho
net decrease $35l3O months gross increase s532
$40, net increase $1,2344O1.
New Canadian Loan S25O0OOOO lid not meet with the
success that so many bond issues in the past
month Underwriters forced to take 1891 OF the is
sue These bonds were being placed in London
u s. Steel statement untitled tonnage win he n,b
lshed Tuesday. 1t is 70 show an Increase of
about like amount in these figures during
the month Of January, little over 200 900 II ia osi
mated new business Of the Corporation is running ar
the rate OF 10000 tons daily shipments at the rate Of
"-Voo tons daily orders did in as rapidly DUR
ing the last two weeks February as they did 5rr tho
first two weeks o the month
N'pssne has been some OF its losses the INST
week and this has the talk that the dividend
viii not be reduced ;he coming quarter
Buffalo Mines comrany announced the regular ouorterv
dividend OF Sc, payable April list The extra dividend Of
15fe was emitted this time as the management ,isnd
to increase the capacity ana this Improvement calls for an
expenditure of 100000
Arizona Commercial has been strong and active tho pot
week. selling S62 though yesterday reacted with
the balance of the market The trading in this issue has
been extremely heavy. Tuesday total 1000 shares
changing hands and Wednesday over 5000 shares 1t is
reported that the Developments the 18th level have been
quite satisfactory.