The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-06-20
GOSSIP Of Market and Mines by Minnear 4 Go.

hinges largely the problem the precipitation OF the
copper further experiments will be conducted de-
termine the economical method"
HANCOCK CONSOLIDATED
Hancock is still cutting stage and although
a production being maintained which doing little
better than paying expenses-270 tons daly-the mine
has stride and the steady production
and profits the future but being rapid
w. rock output daily should with
in three months. The Aouez- Centennial MILL which is
treating the tonnage will be able hereafter Han
cocks promptly II is received the plant will
be relieved a burden after Monday when AL
louez rock will go o Tamarack plant
Hancocks present production is coming from lodes
with openings. The best grade of rock is coming
from which is being worked the thirteenth
and eighteenth levels No. is being opened the
level the 18TH 10th and 18th, No. at the
and No at 4sth SD. That the mine is doing
little than paying with such large
of blocking out in progress and shipments limited is
better shareholders expected at this
of the propertys development Crosscus running
the veins rapidly. The underground force numbers
l52
UNITED VERDE EXTENSION
Saturday, this issue sold up to ninety cents with
large blocks changing hands the fig
The sharp advance was due to an accumulation OF
buying orders and finding the market bare
ings. the urgent demand was satisfied it reacted
slightly but there continues steady accumulation
|
which point three drifts being carried forward stead
ily In addition 10 the work on this level also
being the 500 level This latter drift
exploring the Jerome Verde property which has been
toned United Verde Extension. So far, the best
showing has been oxdized vein which
erages "a GO
on the level sulphide being encountered
carrying commercial values according latest
information. big bodies have as yet been opened up
United Extension is capitalized for 100000 shares
of value of fifty cents a share Five hundred shares
are treasury. When the Douglas Syndicate took
affairs this company, they purchased $4,000
shares at fifty share, and also took an option
100000 additional at fifty cents the option to
pre 49, AS the needed funds to carry
on development work, agreement that the Syn
would exercise OF the option in order to pro-
vide the company with sufficient funds to carry on the
work planned Douglas syndicate became interested
in the proposition about years and the follow
ing were reported o interested James s. Douglas.
for many years with Phelps Dodge Co, Ches
ter Congdon. +. Tenor and James Hoatson d
rectors Calumet Arizona, John D. Ryan, president of
Amalgamated Copper Henry Hovland director Of In
spraton George Kingdom superintendent of Green Cam
" ea, and Arthur James, director of Phelps Dodge,
NEW ARCADAN-
: The management has decided the vein
the 25O-foot already has been cut and the
formation be reached inside of sixty days. This VIII
give openings the vein at four levels the 2oo6oV
the shaft will have reached the latter
depth time the lode is opened at $50 feet ana
> crosscut will be driven Immediately The drift
on the distance of close to 100
feet and continues 10 excellent ground in both
the drifts have been in commercial ground
for practically the distance. owing to inadequate
supply drifting nterfered with for Few days
although sinking has been carried steadily about
= 20 being made per week.
MARKET AND MINING BRIEFS
ronopah INNINGS earnings for May s99,695 or 49,
n 4O5 than profits for the preceding month de-
values of the ore handled
is responsible for these lessened earnings
r. Greene cananea's production for May was 17S4OOo
Of pounds but does represent full months smeter pro-
he duction production about 500 of the March
he figures Douglas states that the poor demand
has deferred the management from se's "
property back to a normal production.
NJ La Rose announced regular quarterly dividend oil
H., 195 cents share payable July OF record
et June company has approximately soVooVO
"a surplus although distributions being made from
ms the intention of the management 10 use
to proong the life property the acquisition oil
nd additional territory anything suitable is oeie
as eraden Copper holds firm with little acti-
700 vy 1t is considered by conservative copper people a
,m this one of the most medium priced stocks
m sharp advance in the stock may the com
ar peton present plans for financing the new eohe
m traitor under consideration.
Jim Buffers net profits the month of May were va
mt 923 or the highest month far this year Inns
r monthly earnings is equivalent to 3Oc snare "
SIS the outstanding 1,645,22l shares
Mayfower called assessment OF 81, payable July VI"
When this is paid, stock will be $40 paid In on p
ing value of s25.
Of Calumet Arizonas production for May was 9'4' tons