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THE CALUMET NEWS.
THrSi M mmg News Established 1SSO 7 v; rrv-- ? PAINE. WEBBER A CO.'S OOSSIP. Tlio cull fr -""""J meetlns of t. shareholder of the Nevada Con solidated, to be held November 2. I" issued. The Ptockholdcrs uiv to vote ,i.',..n the Issuance of 400.0(10 shares of Nevada Cons, stock to be oiTcred In ,'xilianKo for Cumberland Fly ttck on the basis of one share of Nevada Cons. Htock for three anil one-quarter of Cumberland-Kly stock. This action Is ,,rt.inincndcd to the share holders by the unanimous vote of the board of directors. Tin- advance In Isle Poyalo 1ms had iit narious times been attributed to purchases by tin Calumet & Ilecla Co. We t an jositlvcly utate there is abso lutely li" basis for these reports mul ll:at tb n- bus been no further increase u Calumet & llceU's Isle ltoyale bold iiiKs above tbo 27,r00 shares (out of j;,iii0) taken over last sprltiK from tho pinclow lnt roKta. Isle Koyale Is In debt between $.10,000 and $100,000 and tho recent incrt-itso in the monthly output of topper Is duo not to nny un ib'i'Kt'ounil improvement on Isle Hnyale ixli but rather to the discontinuance (.f all sinking and tbo doping of such poitions of the upper levels as offer pay ground. There will bo no further extension of lateral openings on the Isle Pyale lode which do not open K nut ml whbh can be profitably worked on n-eeiit copper. The hope of Calu ini t X- lleela In Isle lloyalo Is on the Itallie lode which Is yet to open com mercial ground n the one shaft (jink ing thereon and which Is now down al most 700 feet. Tlie Arizona-Commercial Copper Co. smelter was successfully blown in Fri day morning under the personal super vision of (Jeneral Manager J. W. Pon ii if. At 11 o'clock tbo furnace was lapped for Klap which continued to How freely. Tho manaKcment is al ready laying plans for a converter plant to be installed tho coming winter. From absolutely rclUUdo sources we learn that the Isle Koyale production for October is running very much ahead of the 610,000 pounds produced in September. If the present rate Is continued the output for tho month will reach S00.000 pounds. This ore Is nuniiig from the shafts on tho Isle IJoyalo lode. For the mouth of August the Poston Consolidated Copper company produced l.fitiii.301 pounds copper at a net cost of pi.f." cents per pound which would Indicate net earnings for tho month of about $.10,000. During August, how ever, the mill was not running to its full capacity as at present. September (inures fdiould show not only an in crease produced, but reduced costs. The Kerr L.ake Mining company de clared the regular quarterly dividend of four per cent and an extra dividend of 3 per ccnU This isjin Increase of 1 per cent compared with the las pay ment and is equal to 3.c per share. The dividends are payable Dec. IS. The president of a leading Poston owner producing copper property says: 'I have just returned from New York where I made some Inquiries concern ing tho statement of the poston News Purenu that J. P. Morgan & Co. were Slowing Interested in a copper combin ation. I learned enough. to convince me that there Is basis for this report and that Oeorge W. Perkins of the Morgan firm has the matter in charge. David Armit AGENT Mathsw 8stUr, 011 U Llfw Fire. Aootd-nt INSURANCE Riehotti Blk Phon. 266 Earinm FOR SALE 8-room houss and bath, stone foundation, situated 310 Osceola et., at a bargain if taken at once. ZbtJLU McLeans Livery & Boarding STABLE 410--7thSt. FIRST CLASS TURN OUTS, BUSSES,, HACKS, CARRIAGES OF ALL KINDS PHONE 620 LAMPS BIO REDUCTION IN PRICE. ASK US ABOUT THEM. Houghton County Electric Light Company Til STE There Is little information available as to the scope of the copper combination, whether It will take the form of aii actual consolidation of properties or whether the Morgan bouse will sim ply use its endeavors to bring about a Kottlement of certain disarm cements now existing between some of tho lead ing copper IniorcPla. Lower prices for the metal might facilitate a copper consolidation. It was the demoraliza tion In tho Steel Industry that resulted In the formation of the U. S. Steel corporation." President F. Augustus Utilize of Now York, of the Davis-Daly Copper com pany, won a complete victory over the opposition fit-mint in the company at the annual meeting which had been held up nearly two weeks bp a tem- poiury injunction secured ny the op position, but the lifting of the ban per muted us being held. Tho board of directors elected: For three years, F. A. llclrxe; for two years, II. Mason Itayborg and George llaglln, and for cnt' year Maurice Levy and W. C. Shaw, all of New York. Arrangements for the consolidation of the Nevada Consolidated and Cuni-berland-Kly Copper company was practically completed nt a special meet ing of the board of directors of the Ne vada Consolidated company in the Guggenheim offices. While those at the meeting refused to state definitely when they came out of the board room what had been accomplished it was practically admitted that an agree ment nan ueen reHcnetl and it was stated by one who is In control close touch of the members of the board, that the ratio of exchange agreed upon was three shares of Cumberland Kly for one of Nevada-Consolidated. This basis of exchange Is a triumph for W. It. Thompson, who championed the cause of Cumberland-Fly. 1 he properties of the New house Mines and Smelter company will bo sold under foreclosure sale hi Utah on net. 21. Alter tins sale the new com puny, the South Utah Mines and Sinel ter, will come Into possession of the property. While undergoing reorgan ization the mill has been remodeled, In creasing its capacity to 1,000 tons per day and the property has been well maintained so that it Is In condition immediately to start up on a productive career. The new company starts off with a substantial working capital. Humors that some sort of a combi nation In copper Interests Is about to be effected continue to come In but they are all lacking In detail and can not be confirmed in any official quar ter. The latest report Is to the effect that a gigantic copper company is to be formed along the lines of the Steel corporalton to be known as the United States Copper Co. Tho Interests suld to be Involved are the Amalgamated Guggenhehns, Phelps-Dodge Co., W. A Clarke and Cole-Ityan. According to this report Calumet & Ilecla cannot be Induced to take part In the proposed negotiations.' No d tail as to capital or the basis of the agreement can bo had and no one In authority will discuss the plan In any way. Annapolis, m1., Oct. 18. An X-ray examination was made last night upon Midshipman Wilson of Covington, Ky., quarterback on the Naval academy football team, who was injured about tbo neck ns the result of a flying tackle In the game with Vlllanova on Satur day. While no fracture of the bones was discovered the attending physician stated the young man Is paralyzed from the neck down. Ills brain and speech are affected. Medical officers believe Wilson Is not dangerously hurt and that tho paralysis will wear off. A press dispatch from Putte says: "The North Putte Co. Is getting into position to greatly Increase its power of production. When the two new lev els at the 2,000 and 2.200 are thorough ly opened and the new working shaft is completed, the company will easily double Its output. Several weeks ngo the westerly drift on the 2,000 level got into fine ore that filled the entire width of the vein about thirty feet, the nv eruge assay giving five per cent copper and nearly five ounces of silver to th ton in addition to good gold values. Tho drift on the 2.000-foot level was about 100 feet ahead of the drift on the 2.200-foot level. Now the latter Is also getting into good tiro again. Some of the material shipped from the low er level runs seven per cent. The cross cut north on the 2,200-foot level ought to reach the Jessie vein very soon. The vein looks like the Kdlth vein on tho 1,800 and 1,600 levels is remarkably large and rich. Although only n few days have elapsed since the publication of the September figures of the Copper Pro ducers' association Important Interests in the trade are predicting that the October statement will show a slight decrease In accumulated stocks. Do mestic deliveries, are expected to be heavier than the 52 million lbs. record ed In September, while the export movement Is expected to be matrlally larger than last month. GAY & 8TURG1S GOSSIP. Poston, Mass., Oct. 18. News Pu reau says: Although only a few days have elapsed since the publication of I September figures of tho Copper Pro ducers' association. Important Interests In the trade are predicting that the October statement will show a slight decrease In accumulated stocks. Domestic deliveries are expected t j be heavier thari the 52.000,000 pound recorded In September, while the ex- ' port movement Is expected to be ma terially larger than last month. (lay. poston. Oct. 18. The local office of the Wyandot Copper Co. Is In receipt of the following advices from the prop erty: The croscut at the 700-foot level Is breasted In a rich copper bearing am- I to be sure of getting the , jjr I very lateft correal cuitom Jiwl B flyle in your footwear at ( M a reasonable price, is to Lt, come to t for a pair of I flit REGAL I SHOES if They have every ttyle-featura I ' to be found in the most expen- I j I live New Yoik cuHom-built I '!,', hoe and in Regal 1 made-to-meiu- we fiu V far $350 W A W I $400 I: ) 1 j SHOE STOJE ygtlalold. The lode is a typical amyg daloid, the matter being gray greenish rock with amygdulles of calcito anil quartz. Tho amygdules are very nu merous, with shot copper In every one. It certainly is rich." Calumet, Oct. 18. Large selling or ders In the general market after the opening weakened tho whole list, Steel common selling off 2Vi points. Amal gamated was the feature showing good buying all day and was the only Now York stock that closed higher than It opened. All the better class of cop pers were moderate ly active with Greene-Cananea and Coalition showing evidence of large buyiug. Greene is being tipped for a big rise and as the buying so far Is practically by one house It lends color to the rumor that the long predicted boom In Greene Is now on. Curbs were quiet and without fea ture. September output of Calumet & Arizona, 2,500,000 pound:; Superior & Pittsburg, 2,050,000 pounds. Post on, Oct. IS. News Itureau says: The popular explanation of late for the occasional bursts of activity and strength in the Lake Superior shares has been: 'Calumet & llccla Is buy ing' Kspeclally has been true when Lee Higglnson or Jackson and CurtiB banking houses, which have"Su the past done business for Calumet & Ilecla people, were quoted as buyers of copper stocks. Calumet & Hecla buying has been at times advanced to account for the rise In Lake Coppe When the Osceola, Centennial, Albnie or Isle Iloyale advanced anywhere from 3 to 5 points, it must be, of course, ow Ing to the desire on the part of Calu met &. Ilecla to Increase its already very large ownership In these proper tis. We can state, however, that the Calumet & Ilecla la not buying into any of tho above mentioned companies. Its ownership In the l!ige low stocks Is substantially the same as when tho big block of Btock was taken over last spring. It not only does not want any more shares but with respec to some of its holdings It already has too much. It has never owned any Lake and has no Intention of securing any Interest therein. Calumet- & Heel Is not In the business of speculation in copper shares. Gay. New York. Oct. 18. At the metal exchange today extreme dullness pre vailed with a somewhat easier tone In future copper; spot 12.25 and 12.50 October. 12.50 and 12.75; November, 12.25 and 12.50; December, 12.25 and 12.50. Gay. STOCKS Poston Continued heavy buying e Greene vnd Puto Coalition was tb feature .if the local market today Amalgamated continued continu -i strong and this helped the balance ,i the list. Thj accumulation of coal ition and Greene Cananea Is realy slg nlflcant and especially as they are not in same camp and could not be In any way consolidated. The only reason for the buying must be advance Informa tion of a betterment In the metnl sit nation. This will eventually help all the rest of the coppers. North Puttc was comparatively weak, the selling however, coming from people win were selling out to buy other things. Copper Itange was very dull bj strong. With continued strength ' In Amalgamated we look for a higher and much broader local market. Pain Webber & Co. Gay & Sturgls says: poston, Oct. 18. Tho general market opened very strong ns a result of firm er London prices and the unexpectedly favorable nature of the bank exhibit on Saturday. At the close, however, prl cob were nartiiy changed, coppers in New York were especially stronger as a result of the extensive talk in all the palters of a copper selling combine. Locally there was concentrated buy ing of Greene-Cananea and strong bay ing of Coalition. North Putte was un der pressure and the balance of the list was only nominal. The street was In great confusion of mind ns u result of the strength In Amalgamated. Co alition and Greene-Cnnnnra and the weakness In North Putte. Opinion Is growing that something is going to occur, but faith In a beneficial result I'o'ier left, tho military toque black beaver trimmed w'.th changeable gauze and black brush. Upper right, the draped turban of pray velvet and doves' breasts In front and broad wings. l'.elow, tho mob turban of king's blue velvet and satin, with si.l trimming of black feathers und os proy. Is not yet strong enough to cause much general buying. I. J. Slurgls. BOSTON STUCKa. (Paine. Vebb Amalgamated Co.l sp; 5 5'.t i j Ills 45 20 'i 1" 1(10 40 L'Ci Hi if, 8 11 Vs 17 ' 100 11 Adventure Allouez 58 Arcadian "1 Atlantic 10":, Arizona Commercial .... H?i lioston Corbin 20 lioston Con It's Calumet & Arizona US Calumet A. Ilecla C..5 Centennial ' Coalition "'; Copper Ilange SO Daly West "'j Fast Putte 11 Franklin K.'i Clroux S7h Gran by '.'5 Hancock 11 Greene Cananea 10 Helvetia C'j Isle Roynle 24 Keweenaw 2T's Lake 30' , La Salle i ll'; Mass .i. f Miami ..-..t. 15 Vi Michigan ..; C'.i Mohawk 5!) Nevada Cons , 21i Nlpissing UVi 15 f.Lj 15'.. 01j 00 11 5!i 8 5-,,i 158 r.i fin u 15 i.j CO 70 ii v; North Putte North Lake ( Hd I Iniiiinioll Osceola Parrot . v.... ... Qnlncy Shannon SupcrlortSfc'-TIoston . . Superior -Pittsburg Superior Copper .... Tamarack .156 ... S0!i . . so T"'l5 ;;,n'i .- K.'h . r.?i . r,-. Trinity 11 Utah Coppof V: S. Miijfn Utah Copper Victoria x, . . Winona ..... Wyandot .... Wolverine . 40 50 10 4 f-v, 3'i oi; 150 NEW YORK STOCKS. Gay & Sturgls furnish the folio wins Vew York Quotations: Open Close Illinois Central ... ... Amalgamated . ...151 15oi ... 84 a; SI ... 4S'i: 4.Vi . ...fiO'.j (10 . .. o:) usu J.nO'i 130!i . 122'i 121 .,117?i llOVj . .. 7D 78a4 ..'.:45 44?i Anaconda American Locomotive . American Smelters American Sugar Atchison PaKlmorc'.Ai. Ohio 1 Prooklyn Papid Traslt. Colorado Iiel n.,. Frle American Car Fndry. . Louisv ille Nashville ' ... 31 34 ... 71 71 is v, to ... 4St; 50 ... M-i fi!li ...135 13P,?i ...144 153 ...152 152 ...147 147 . .. 81 Sf) ... 40 40 ... 50 4f-i; . ..ifiiU ir.o-, ...130 130 ...31 31 . .. f2r-.; pi i M. I'.. & T Missouri Pacific ....... New York Central...... Cons. Gas , Northern Pacific Pennsylvania & o Pock Isl'ind ... Wabash pfd St. Paul So. Pacific So. Pallwav S. Steel Steel pfd 128 128-V, Pacific 205 204- I'nlo UNLISTED STOCKS. J. A. Minnear &. Co. say today Despite the denial given to the story about m- tal that the Morgan Interests were to enter the copper market, shares acted hs though there was some important thai pendingf. There was onsldorabh activity In oppor stocks. with Amalgamated h tie. V'l feature at higher prices. Putte Coalition was likewise stronger. North Putte was a little ensler and off a point from the high for today. The Calumet & lleclas were In- a little better demand, with lporlor a lead r. Felling above The N. Y. market was Irregular with strength displayed nt the opening. Greene-Cananea was the curb feature, selling ns hii'h as 11. S-jp-rlor & Pitts burg was up fractionally. Tho Glob'' listrlct stocks were very du'l and a tHfle wicker. Montana-Clinton Is o tnke over a new propovty and will call an assessment er in cents per snare Die Cobalt stocks were strong t liy We hoar pool reports on P-'iil"U im'uc ahimet & Arizona products for Sep tember was 1125 tons and Superior fc Ittsburg, 1025 tons. DiJ Asked f3 .85 Art.. MUh. mi Ahnieck 200 1 Slack Mtn 00 .SO Putte & London 25 .Iso Putte fe Stii 2 2',i Pay State Gas 1 1 Itulte italk ! It's ('lieiiiliag 15 Pi Col. C ms 05 75 Cumb. F.ly 7!i 7'i Cal. C u-biii 20 .2" Cal. V M m 1 1 Corbin C,,p (J G Carmen 1 ' 1 Cncins 3-'.1; 3 D.nis Daly B fi I lean Ariz 4 5 Ft. Ntl. Mng GtiiiMleld Con liT; 7 Giroux 8-vt f Glob" Con 3 4 Herinlra 50 .75 Helvetia C, 7 Har.eoek 11 11 Ida Mont 2' Keweenaw 2 3 1.1 P.O-iO f, 7 Lake Copper 3i'i 37 L. S. ' A 3 4 Iiko Sup. i Son 1 Lion Gulch 4 5 Live Oak 7 7 Miami 15 15 Mont. Ton pah 1 1 National ' 55 .CO Nevada Fts'.h 1 1 Nipls ,ing 11 11- N.-.rth Lake 7 8 Ojibway 7- 8 Paw. Coal 20 .25 Pay Cot-.s P P' S.-.n AlitoT'Io 7 N ShatUiek ... 22. 22 li- :;-!;.. v; IM H.e 75 .85 Sup. .t Pocfon 14 14 Sup. & Pitts 15 15 Silver Ojneii 35 40 S.iuth Columbus OS .10 Silver r.-af 15 .17 South Pa ngo 40 .50 Tuelomno 4 ! Tonopah f' Warnn 2 3 Wolv. & Ariz 't0 .' Yukon 5 5 Inspiration 7 Chief 1 1 Yuma 1 1 Oneeo 1' 1 Pay Central 2 2 Mont. -Clinton 10 .15 Santa posalia 1 11 MAP SHOWING ROUTE WHICH LINES Paine, Webber & go. Boston, Mass. Members New York Stock fixefnngc " Itoston Stock Exchange " Chicago Hoard of Trade Wc cxlentl orders for Cash or Margin In all Stock llonds. Grain, Provisions and Cotton. Calumet OfficcPalnc Webber Building M. J. O BRUIN. Res. Mgr. Tclcplioncs"60, SQ and 139. It is reported that J. P. Morgun & Co., the successful New York financiers, have interested them-!c in tl- metal 'uarket. If Hey do. it w ill iioan much for t ' . -i- shares. jIo'.er, there is nothing definite a:; yet, but wo are in close touch wKh this phase of the filia tion and can give you the news of the prnnrissi of llii.s deal quick enough to take advantage of it. Keep In touch with us. . f J! Write for our weekly letter and Fpeclal Information which we are pleased to give. J. A. MINlNHAR CALUMET, MICH. Stats Dank Bldg. Phones 64 nd 75 ill k& "tr z a Drfl i if ( W e I Biy 50 Congress St., Boston, Mass. Members of The Boston Slock Exchange DEALERS IN Bonds and Stocks, Listed and Unlisted Our facllties for handling your stock business Is unsurpassed Direct private wire to Ponton, Duluth and Houghton. Also direct connecMon with Hornblower & Weeks, Members of the New Y ork Stock Exchange, with offices at Chicago and Detroit. P. W. GRIERSON, Mgr. OFFICE 108 FIFTH ST. PHONES 8.10 AND 840 -J t - OAK .i.. - r.li Iiu'lana London. Km,'., net. 1. Mr. poi-.ies IJobertson stands out as a most uniiie ticure on the staue today. Just as Sir Henry Irvlns Btood supreme, so Mr. Porbes Pobcrtson is reparded by many as Irvinfi's suci essor. In comparing the two there are many points of sim ilarity. Temperament, ambition, in tellectuality. Individuality, and even, to some sllRbt extent, personal appear ance, mark these two remarkable act ors as of the same school. Forbes Itobertson Is now .'.6 years old, but bo possesses the tempera ment of youth, is active, vigorous and eager. He lacks Irvine's stiprein ly tragic sensibility of countenance, but PEARY CLAIMS WAS TAKEN BY COOK. IN UPPER SHOW THE ROUTE COOK CLAIMS TOH AVE TAKEN. & CO., Brokers LAURIUM, MICH. State Savings Bank Bldg. Phones -ISO. 6C5 and 820 hu stands pre-eminent in Kn.uland as a promoter of the advanced idea in drama of plays that are m-u-e than pictorial in their appeal of acting that is the art of realism. Mr. Pobcrtson has been on the staff -for thirty-live jtats. He intended to be a paint'-r, but on account of re verses in fortune, lie was force 1 to in Kajfe In the theater, where his natural charm and resonant voice met with in stant success. Paris in Line for Pro. notion. "Paris is a wonderful center of po rial gayety and popular excitement." "Yes," answered Mr. Cumrox, thought fully. "I should not be surprised if Paris might one clay claim rccojaitioo as the Pittsburg of France." LEFT, DOTTED I