The Calumet news., 1914-09-16
MINING NEWS

company for the six months ending
June 30th showed a cost Tor that Pc
riod OF Sg74 cents pound, and after
I paying the regular dividends the COM
pany added To its surplus $4,000. The
gross production OF copper was 20
] 0S3Og6 pounds for the six months, and
after deducting the smelter deprecia-
ton or per cent. the net output OF
merChantable copper was ls,o'S.s42
The ore averaged about 2.27 per cent
! and the actual extraction was 69l4 per
! cent.
President Adolph Lewisohn has the
following 10 say:
Gratifying reductions in cost have
/ been achieved in both per ton Of ore
treated and per poand OF copper
produced. The mining cost includ-
ing development, in January was $l.46
q ton. whereas in June IL was re-
dueed To SlI7.
The corresponding reduction has
also been made in the milling expense.
In January this year SO cents a ton,
and in June, 1914. "a cents "a ton.
"The reduction in cost in the mines
las been due 10 finally getting the
81 nkage Slopes finished so that the
ore could be drawn from them. In ad-
dition to this a forced system OF ven
tnation was adopted los the use OF an
underground fan, which reduced the
compressed air consumption in the
mine from 100000 cubic feet To o.
O0O, ,OOO cubic feet per month. In the
mill the reduction in cost was LARGELY
due 10 the improved coarse crushing
Of the ore as it comes from the mine
and before il goes into the mill bins
proper. Here two new rolls, two
screens and two elevators have been
introduced, So that 90 per cent Of the
ore going To the mill is crushed to y
inch size
Hedley Gold.
Tedley Gold has declared the regu-
lar quarterly dividend OF 3 per cent
and an extra dividend of per cent,
payable sept 3Oth to stock OF record
Sept. 18th
Tonopah Mining.
Touopah Mining company's estimat-
ed net profit in August was $4,000.
Gussenheim.
Guegenheim Exploration declared |
the regular dividend Of S7ia cents,
payable october lst books close Sept |
18th.
Buffalo.
Stockholders OF the Buffalo Mines
company have received the statement
Of operations Of the company for July,
which says.
THE silver on hand i'm London at
the time war was declared has since
been sold which, with the exchange |
nettcd over 50 cents per ounce, and |
the funds cabled To our credit here. |
The uncertainty Of the silver market !
and general conditions decided US TO |
close down the concentrating mill |
More or less mining underground will |
be continued for the present, and the
reclaiminE OF mercury from the resi- !
due will be done at the high grade |
plant. We have considerable cash and |
bullion on hand and If conditions in |
price and demand FOR silver improve. |
wc can resume fun operations almost |
Immediately While no probable date
is determinable when conditions will
Doe normal, and during cessation Of |
work. it is probable that no dividends |
viii be declared.
The mill ran ca hours during the |
month and milled G,sS5 tons Of ore
the average assay of which before
milling was 1855 ounces. The silver |
recovered was 9713G ounces, and the
silver sold up TO August goth last
20 342.417 ounces.
The last dividend by the company |
was paid on July 1st and amounted to
. per cent. In the ordinary course Of |
events the next dividend will be paid |
October lst, but as stated above, this |
payment viii probably be deferred. |
The total dividend disbursements by |
the company TO date aggregate 81
s7,0o0.-J. \. Minnear q co.