Newspaper Page Text
SATURDAY, FEBRUARY 26, 1910,
THE CALUMET NEWS. MINING SUPERIOR & BOSTON. The Superior und Hoston Coppc company 13 continuing shipments ire to the Arizona Commercial smel tr at the rate of fifty tons dally. Thin ore averages about 9 per cent, cupper and also carries a small quantity of silver. The sinking of the McCJaw shaft was resumed February 13, und has now advanced to u point 45 feet be low the sixth level. The shaft station and the pump station sump on the sixth level of the MctSaw have bee completed nnd the concrete founda tlon for the 1,000-gallon Preseott pump to be Installed thero has been finished The pump will bo put In place at oi.ie. The opening of the ore body from the McGaw shaft at greater depth i." expected to give results very favorable to the future of the Super lor and Bosfon mine. The sinking of the Great Has Urn winze from a point 30 feet below the lxth level was re sumed February 18. The raise 100 feet cist of the Great Eastern winze mta suns 43 feet. The raise ?! feet west of the winze Is 70 feet high. The ere broken down from these raises forms a part of the smelter shipments. The two 2")0-horsepower boilers to 1)0 added to the present boiler plant have arrived at the mine and will be installed Immediately. The branch of the Arizona Kastern railroad und ((instruction from Globe has been built to within 2,000 feet of the McOaw shaft. Superintendent J. D. Wanvlg Is employing fully one hundred men In mining and general surface work Silver Belt. MINN EAR AND CO.'S GOSSIP. The Superior No. 2 shaft Is flndin more copper as depth Is attained The drift is going over towards No. from the 13th level of No. 1 shaft and the openings disclose the big lode to be of full average value. Returns from the mill are most satisfactory, being around 30 pounds of copper. The rock is being treated In the At lantic mm, wnere a nlgner recovery Is being made. The best guessers here think North Rutte will halve its dividend. It Is generally thought It should be passed altogether. Underground developments at Miami continue satisfactory. The flow of water at the seventh level of the Arizona-Commercial's Rlack Hawk shaft is steadily decreas ing. The right to convert A. C. bonds Into stock expires on Monday next. An official of the Greene-Cananea, who just returned from a trip of In spection of the company's mines, re ports that the properties are In ex cellent condition nnd that development work Is progressing very satisfactory. Assays made from a 3-Inch strike ' of ore In the raise from the crosscut in the Brilliant mine of the Fly Con solidated returned $33.77 gold nnd sil ver and 3.63 per cent, copper. AH of the workings are looking well. The crosscut from the Emma shaft of Roston Fly Is being driven through the ore at the rate of from 5 to 6 feet per day. The vein at this depth is about 200 feet In width and at the rate the work Is now progressing the lime will be reached In about a month and It Is at this point that rich ore Is ex pected. "When the shaft passed through the lime and struck the vein at a depth of 860 feet, carbonate ore av eraging 10 per cent, was found show ing that the richer ore Ilea next to the lime. Fly Central has ordered a complete hoisting and drilling plant, which Is now on the road nnd will be In oper ation on the property within a few weeks. A heavy flow of water has been struck on the third level of the Suc cess mines, which drains the upper levels and which will open much new territory to stoping. The ore runs from 100 to ns high as 1,400 ounces In silver, besides. lead values averaging about CO per cent. The company, It Is expected, will be a heavy shipper luring the coming season. The rock from the Lake mine that hns gone through the Franklin mill did not come from the rock pile. The large amount of rock that has come from the. shaft In the Lake lode and crosscuts and drlftlngs In the Lake lode Is still in the rock pile. The mine Is not equipped for handling the rock pile as yet nnd shipments to the mill have to be from the openings. Some have estimated that Lake may have to discard 20 to 25 per cent, of Its rock. Copper Range, discards 45 per cent., Mohawk 17 per cent., nnd Wolverine r per cent.' Engineer Feslng is sur prised at the regularity of copper dis tribution through the lode as disclosed In the cut-outs that are being made anl It Is now believed that 20 per cent, or less may be the underground discard when the openings permit of discards. With a return to normal conditions. Nevada Consolidated officials have heen notified that the mine will aver hrp shipments of 5.500 tons ore dally to the mill during February. For some time shipments of blister copper will "pproxlmnte 4.500,000 pounds. With Improved weather conditions these fig ures are expected to show an In cri".e of 10 per cent. i February will show smallest copper Production for Rutte district In years. wHh a total below 14.000.000 pounds. Iu to Intentional curtailment and t 'he strike of the engineers. Arirregnte sales of copper Friday nnd Saturday totalled between 20 nnd Weh. Somethi tmrt In in our Store Ready For In'peclioo by You You'll not finJ la any other reedy-to-yttu Hoci the exclusive cuitom rtyle and nappy, imert lines you gi io the tie Regsl models, now on diip'ay it out itore. Dcjcriplion cnnct do these shoe justice come ee them and judge for yourself. Moreover, you g t ai exact fit in Regal qucrler-tizes. $350 $400 enn (ft Regal Shoes The Bee Hive Shoe Store Phone 390 5th St., Calumet J .. inning was very difficult because of the soft nature of the ore. nocai stockholders In the Manga are much pleased with the report of rinding ore In the second drill hole. The conditions under which the strike were made are almost Identical and the ore has been found at the same distance from the Hurface. On the Em erald claim the ore was encountered t a depth of 357 feet, while on the St. Paul claim the drill was Bunk 3C0 feet. Joseph. W. Selden of Calumet and Judge N. I la ire of Houghton leave to wlll visit the property. They plan to will vlsjj. the property. The plan t "pend about three weeks In the Hurro Mountain district, where the Mangas Is located, und will attend the annual stockholders meeting to be held on March 18. WILL CLOSE TWO SHAFTS. It Is officially announced that on March 1, Nos. 5 and 6 shafts of the Osceola mine, will be clewed for a tlm". This will be the means of throwing a considerable number of men out of work, although It is understood some of the men will be given Jobs in other parts of the mine. The desire to cur tall expenses, also the production, are understood to be the main causes for the closing down of these particular shafts. While Idle the shaft are to undergo repairs. I STOCKS 30.000,000 pounds. There was transaction of 5,000,000 pounds. PAINE, WE3BER & CO. GOSSIP. Is the sentiment regarding tho Cole- Ryan stocks turning towards a more hopeful view of the future? A mem ber of a leading Hoston brokerage house says: "For the first time In many months there has been what may be called good buying of the 'ole-Ryan shares. I have been advised to buy them at these levels by persons in close touch with the Cole-Ryan In terests and this advice has been sup- lemented by our own observations in such a way that I am led to be neve that the tide has turned. I would not venture the statement that North Rutte will pay the regular dividend at the coming meeting, but It would not be more surprising if passed than If It paid." Greene-Cananea is mentioned specifically among the several others of the Cole-Ryan group as likely to have an Important advance In price hile Rutte Coalition, North Butte and Calumet and Arizona are said definite to have reached the bottom. It is learned orr reliable Rutte au thority that the showing made on the lower levels of the Rutte Coalition Is gradually improving. It Is stated that the new vein opened on the 1,500 and ,700-foot levels is very fine and that on the 1.700 level the richest body ore in the Rutte district has been opened up. It has a width of 36 feet and an average of 7 per cent, copper, The vein Is being mined and develop ed through the tramway shaft. The company is earning about $1.50 per share on Its stock. GAY & STUFIGIS GOS3IP. New York, Feb. 26. The feeling continues to be one of confidence, al though the reported damage to the Inter wheat crop and the continued decrease in railroad earnings is at tractlng more attention. The market In Steel common indict tes long stock Is being sold on the continued reports of growing business. We believe this a market In which extreme caution should be exercised, but on any pro nounced weakness we would suggest buying better class of stocks. J. II. Walnwrlght. New York, Feb. 26. Clearing houso bank average cash reserve, 26.86 per cent. . ; i . Reserve decreased $2,978,875. Less IT. S. decreased $2,988,275. Loans increased $7,423,100. Specie decreased $1,856,500. Legal tender Increased $247,600. Deposits Increased $5,479,800. Circulation decreased $655,200. Actual cash reserve $26.69. New York. Feb. 26. The New York "Sun" says Fenn. has now acquired 51 per cent of Norfolk & Western stock. New Jersey Jury Indicts 21 packers. Eastern railroads announce that they cannot advance wages In view of low freight rates and Increased operating cost. Rradstreet's reports says that con servatism In placing orders Is still the keynote of wholesale trade In several lines. Dun's review says that in a number of Instances trade Is equal to. or above normal, and no report is absolutely bad. Some shading reported In structural steel prices but early restoration Is likely. Idle cars for fortnight ending Feb, 16th. 14,309. a decrease of 10,666. Ranks loss on week's currency move ment $7.148.000. Dow, Jones &. Co. Gay & Strirgls say: Roston, Mass., Feb. 26. The market was re-actlonary owing to professional profit taking. A waiting attitude seems to be adopted by every one but con fidence in future is Increasing. It la good opinion that American surplus of copper on March 10 will show n tremendous reduction and that higher prices will soon be seen. In our opinion prices will be higher next week. I. J. Sturgla. BOSTON STOCKS. (Fnine, Webber and Co.) Rid. Asked. Amal 76 76V6 Adventure T'a 8 Allouez 56 5714 Arcadian 6 7 Ariz. Com 40 40'4 Roston Cor 17-114 18Vi Roston Con 19 19 C. & A 72 73 C. & II 622 632 Centennial 26 Va 27 V Coalition 24 M 24 Copper Range 75 M 76 Daly West 8 9 East Rutte . . 9 10 Franklin 1914 20 Glroux 9 10 Granby 8SV& 89i Greene Can 10V4 10 Hancock ...V ' .... 264 27 Helvetia 4 4 Indiana 34 ZiVj, Isle Royale 23Vi 23'i Kerr Lake 9a 9 Keweenaw 4T6 5Va Lrfike 73 73 Vt La Salle 1 6 17 Mass 7 Miami 2314 23 Michigan 6Va 7 Mohawk 65 66 Nevada Cons 22 Vt 22 Nipissing 104 10 North Rutte 35 36 North Lake 16T4 17 OJibway 9 9M Old Dom 43 45 Osceola 150 151 rarrot 20 21 Qulncy 86 87 Ray Con 21 21 Shannon 14 15 S. & R 12 12 Sup. & Tltts 13 14 Sup. Copper 56l 57'i Tamarack . ... 74 Utah Copper 49 49. U. S. Mining n .. 45 46 Utah Cons 32 32Va Victoria 4 4 Winona 8 9 Wyandot 22 3 Wolvrrlne ..141 142 NEW YORK STOCKS. Gay and Sturgls furnish the follow ing New York quotations: Amalgamated American Car Fndry. Adds Heafhiul Qualities to the Food -Economizes Flour, Butter and Eggs m The only baking powder made from Royal Grape Cream oi Tartar f mi a ? rof 0. tlril Reading 1C3 ICCVj Rock Island 41) U 48 St. Paul 145 144 Smelters 83 81 Southern Pacific 12G'i 125Vi Sugar 125 125 Steel pfd 120 120 Union Pacific 187 180 U. S. Steel 81Vx 80 Wabash pfd 46 40 Western Union 75 UNLISTED STOCKS. J. A. Mlnnear & Co. say today: An unfavorable bank statement cou pled with lower prices in London start ed some selling in the New York list today. It assumed considerable pro portions before the day had progressed far and extended to the Roston list. Lake was again subjected to selling pressure and after opening ut 78 dropped down to IWi and regained only a portion of this loss. North Rutte dropped about two points, and a like state of affairs was noted In the usually active Issues in the Roston market. S. & R. has discontinued shipments to the Arizona-Commercial smelter nnd Is shipping a car of ore daily to the Old oDminion plant. Man gas traded at 3 ',4 and looks higher. Indiana was off two points. Hancock was well bought all day. We look for further activity in the copper share list next week, and if stocks sell much lower Monday they can be quite safely bought for a turn. (J. A. Minnear and Co.) Keating l"; La Rose 4',i Li'ke 73 L. S. & A l',i Live O.ik 20 Miami 23 Montana Clinton 30 New Keystone 4 Mangas 3 New Miiltlc 13 Nipisslng 10 North Lake 17 OJibway 914 Oncco 714 Hay Cons 21"s Ray Central 3 Sierra Shattuck 19 Santa Rosalia l Superior & Globe 1 14 Superior &. Roston 12 Superior & Pittsburg 13 South Columbus 07 South Lake 10 Tuolumne 3 1 Tonopah 7 Wolverine & Arizona Yuma 1 8 4 73' 2 20Vi 2 .35 13 10 17 10 7 22 3 4 19 Vi 1 1 12Vi 14 .09 10 3 l'i 5 Oi Ilstahllshed ISSO Pj Paine, Web ten- & Qo. Members New York Stock Exchange ' Boston Stock Exchange " New York Cotton IZxchanQc Chicago Hoard of Trade " Duiutii Stock Exchange cuiin stocks Givnx spneinL xtthxtiox privtitiz wutn to till mtimkbts Calumet OfficcPnine Webber Building M. J. O'BRIEN, Res. Mgr. Telephones 60P 89 and I3i). NEW OFFICERS ARE NAMED. rr ; : ''Rid in Arizona Rc Michigan L,.. Ahmeek' 200 Rutte Rilak. ..J i) 9la Chemur Chief Col. Cons. . . Cordova ". ".'; Cortez 2 Chlno 14 Calumet & ,Oorbln ...'. . 75 Calumet & Montana . .. 1' Corbln Copper ... 9 Cactus 4 Davis Daly .V? 3 Denn Arizona Ely Cent rut ... J l'i Goldfield Cons. ..j 7 Rohemla ...... .". 12'a Gila 8 Glroux 9 T Homestake 85 Ilermina 40 Helvetia 4 Hancock 26 Indiana 34 Inspiration ........ 8 Keweenaw 5 Kerr Lake ' DVi Asked .75 220 9 14 2 .5 3 2 15 .80 1 10 5 3 3 1 8 13 8'i 10. 90 .50 4 27 34 li 8 5 9 Slay's HairlSealih Never Falls ta Restore Gray Ilalrto Its Natural Color .nd Beauty. Mop ia tailing out, aaU pwMtiveljr removes I'andruM. laaioi a Dye. KHuc all aubstitutra. $1.00 and Hottlca by Mail or at Druiriflnt. CnCC Send fz (or larpe aampla lkrftlo I iL.L Pnilo Bay ptc. Co., Narii, N.J., U.S. A. Mrs. Margaret W. Viv- Calumet Woman's Club Holdt Regular Meeting Yesterday. A regular meeting of the members of the Calumet Woman's club was held In the Y. M. C. A. building yesterday afternoon. The following officers were elected for the ensuing year: President, Mrs. Margaret M. Ander son. First vice president, Mrs. Maud M. Carlton. Second vice president, Mrs. Rose K. MacNaughton. . Recording secretary, Mrs. Kate E. Ross. Assistant secretary, ,'lrs. Francis A. Goodaie. Corresponding secretary, Mrs. ''Addle W. Ilohl. Treasurer Ian. Roard of trustees: The president, recording secretary and treasurer with Mrs. Edward Grlerson, Mrs. George Fax, Miss Lottie Chllds and Mrs. Edward J. Hall. Steps were taken at the meeting to incorporate the society. All of the re quirements have been comnliod with nnd the necessary papers have been ! filed with the secretary of state at ' Lansirlg. Although the club has been ' organized for several years and has ! been a recognized power for good In the community, it has not been deem ed necessary before this time for the I club to incorporate. However, It Is ! now thought that much more can be! accomplished, if the organization is j given a legal status, which will enable It. to hold property or erect buildings. As has been mentioned in The News, It Is the nlm of the club to ultimately erect and own a home of its own. nnd while no steps were taken in this di rection yesterday, the act of 'incorpor ating the club will make It possible for such flans to be realized In the future. The Market at a Glance NEW YORK MARKET SHOWED DECLINES TODAY. BREAK IN LAKE AND WEAKNESS IN COPPER SHARES TURES IN BOSTON MARKET. PROFIT-TAKING LARGELY CAUSED A REACTION. FEA- SUPERIOR & BOSTON, CHINO AND CURB ISSUES. HANCOCK MOST ACTIVE J. A. MINNHAR & CO., Brokers CALUMET, MICH. LAURIUM, MICH. PRIVATE TELEPHONE EXCHANGE j Gay & Sturgis I 101 Milk St., Boston. Mass Members of The Boston Stock Exchange DEALERS IN Bonds and Stocks, Listed and Unlisted Our facilities for handling your stock business is unsurpassed. Direct private wire to Boston, Duluth and Houghton. Also direct connection with Hornblowcr & Weeks, members :f the New York Stock Exchange, with offlcts at Chicago and Detroit P. W. GRIERSON, Mgr. OFFICE 108 FIFTH ST. PHONES b30 AND 840 Atchison B. & O ft. It. T Canadian Taclflc C. & O Cons. Gas Erie . . L. & N. P MANGAS ORE CONTINUOUS. Body Practically Certain That Or Covtra ImmmM Tract. Lcal officers of the Mangas Devel opment company received a telegram thl morning from Supt. Link at the property, announcing that the drill hole on the SL Taul claim Is down 3rt feet, with a good showing In sul phide ore. The drill hole on the St. Paul tUm l l.oo feet from the hoi on the Emerald claim, where the flrt big strike was made a few week ag'. and Supt. Link brieve It I practically rrrtaln that the ore continues that en tire distaer--H report ht the M. K. & T. . New York Central Northern rnciflc . Open Close , . 76 "fi'i .. Wa ... ,. 49 '4 50 ..llS 115 ,.112K 111 ,. 754 74T6 ,.182 181 ,. 84 83 ,.146 144 ,. 3!H 39-14 ,. 29 29H 153V4 151 . 71 70 . 43 42 .121' 120 .136 13' .133 133 Y0UN3 MEN WANTED. Covtrnmant Pays Railway Mail Cltrka 1800 to 1,400 a Yaar. Frea Scholarships Aro Offered. Uncle Sam holds examlnatlona for railway mall clerk, postoffice clerk or carrier, custom house and department al cbrks. Prepare at once for the corning examinations. The Job Is for life; hours are short, salary twice monthly and vacation. To any young man who has energy enough to answer, this la the oppor tunity of a lifetime. Thousands of appointments are to be made. Common school education 1 all you need; city and country poopio. have equal chance. Start to prepare now fre Information. Fre scholar- j hips thlfl month. Write Immediately to Central Schools, !pt. Rothes- r N. T. FRIDA Y, MARCH 4 RETURN ENGAGEMhNT HENRY MILLER, Presents Wot only 'The Great American Play but The Great American Triumph" ..LONDON TFLEdHAPH The fv J ureaic The Same Excellent Cast The Same Prodigious Production Divide 500 Nights '?o.!k 300 Nights lo&k PRICES All down Stairs $'.50 Balcony ; $i.o0 Balcony C$-c!c... 75c Gallery.... 50c Seat at Fmrter Wednesday H a. m. g A. TENNYSON PRYOR WARD B SMITH Phones 818 and 810 South PRYOR & SMITH BROKERS 37 Isle Royale St., Houghton, Mich. Direct Private wires to Boston and New York Stock Exchanges VM. DUFFNEY, Manager CURB MINING ISSUES A SPECIALTY Reliable Information from Competent Mining Engineers and Corres pondents in the Various Mining Camps at the Disposal of Our Clients. The newly elected trustees will take up their duties on March 1. but the new officers of the society will not take oriice until the opening of the next club year, at the first meeting in October. F. Augustus Ileinze, the copper king nnd financier, Is to be placed on trial in New' York on the two Indictments still pending against him for alleged misapplication of fund of the Mer cantile National Hank. If troubled with indigestion, consti pation, no appetite or feel bilious, give Chamberlain's Stomach and Liver Tablets a trial and you will be pleas ed with the result. These tablets in vigorate the stomach and liver and strengthen the digestion. Sold by Earle Drug Store, Calumet and Laur- lum Pharmacy, Laurlum. Superior Trust Company Hancock, Mich. Capital $150,000 This company In under Ui supervision of the state hank ing department and Is author ized by law to act as executor, administrator, guardian, 2jnee, receUer or trusu. C. A. Wright, President, Jacob Bier, Tmssurer, M. C. Getchell, See'etiry. LOW COLONIST RATES TO PACIFIC COAST Daily From March 1 to April 15. For daily and personally conducted tours, via th.- Chicago. Union Pacific North Western Line. Personally conducted California 'urs In Pullman tourist sleeping cars leave Chba-?o every Tuesday and inursday. I'ouble berth Chicago O the Coast. $7.00. For full particulars write S. A. Hut chinson, Mgr. Tours, ivpt.. 212 CI. irk St.. Chicago, or apply to ticket agent North Western Line. 4t93 MERCHANTSI DO THE FOLLOW ING INTEREST YOU? A well lighted etoref A light that gives the true color to your goods? A light that it healthy for your elerke? A light that is appreciated patron? A light that gives an air of prosper ity to your store? KOUSHTON CO. ELECTRIC LIGHT CO. Bell telephone connection at all - Nea. .- - by your PROMPT DELIVERY Give ut an order for the delivery of a case. Mary beers have many good qualities, few shortcomings. Our beer ie a fine beer any way you take it. aa hundreds of its satisfied users will tell you. You can order it delivered t your door. Mail and telephone orders receive prompt attention. CALUMET BREWING CO. Phon. 274. . News want ads brlnj result.