Newspaper Page Text
TUESDAY, AUGUST 30, 1910.
THE CALUMET NEW MINES AND MINING, STOCKS j SUPERIOR & BOSTON Nov President Rice Says Company la Out of Prospect Class PresltKnt W. Kce of the Sutc: lor & Jlostou, nays: 'The Superior una Hun is now nut of the nmnect class ami it is only a matter of a "c onuaritivcly ahort time when It will take rank nuumi; the substantial ituiIukTs of the Southwest "The Mcliuw shaft. elcsisncj to mine the ()I1 Dominion utnl llrcat Kastern veins, haa hcen' jjunk to ilei'th of S15 feet and u station is now being cut preparatory to crosscut tins to these veins, so that it should be r.nlv 11 matter of four or five weeks when the tSreat Eastern and possibly tho Old Dominion veins will be opon- nt this new lower level, which Is 265 feet vertically below the sixth level, and approximately 300 feet on the Incline of the vein. "Ore has been taken from the Circa t Kastcrn mine only between the 4th and 6th levels, and while on the 4th level the ore body was opened for a lateral distance of only 2.".0 feet, yet on the 6th level ore has been ex posed over 7'o feet east of the Ar lzona Commercial boundary. "The management has every confi dence thnt on the .present Mh level a large body of ore will bo opened In the Croat Kastcrn vein alone, to say nothing of the possibilities in the Old Dominion vein, and with a stopinf back of TOO feet, the company phulil be able substantially to increase and n:Inta!n its production. With this Tid in iew. shipments from tho f.th level will be suspended temporarily and every effort will be devoted tr opening the Sth and low er levt Is. I feel certain that the Sth level will be In the xone of secondary enrichment making it possible to mine a lusher irrade ore than on the 6th. although the ore en this level averaged better than T per ctnt copper. This belief is founded upon knowledge gained by diamond drilling on the adjoining Ar izona Commercial property where a core rich in copper glance and assay ing 16 per cent copper was recently taken out. "The occurrence of ore in tho Mc CSaw shaft during the past month has been a most encouraging development. It comes from either or both the roat Eastern and Old Dominion veins, or from a bedded deposit in the limestone, such as has been recently i developed on the 12th level eif the Old Dominion mine, and affords addition al promise of Rood ore bodies nt the present depth. j "While every effort nt present Is being made to open the McfSuw mine bo that a larger daily production eun be maintained, yet tho Superior and lloston has another mine of eipial promise In the- (iardner. where within the past four months the ore body vx posed in the liho k Oxide tunnel has Ix'on opened Jit the 4"0-foot level, an additional depth of 4'0 feet, with :t winze from this level down nnother 141 feet In eommercial on-, and this diseovery is of such importance that I'helps, Dodge & company are re opening the old !urkcye shaft on the I'nited dlobe property adjoining the f iardner on the we-st. They are now Installing permanent equipment at tills mine, and propose to sink the shaft l.'JiiO feet and to make connee tiotm 'it the lowe r lcv Is with the (iardner mine. "With its property, comprising ap proximately mm) n res of mineral land. eii( inly paid for, find two mines proven, one ef whh-h. the Meflaw. Is permanently equipped to lrnd'e n large tonnage ef ore, and now direi t ly connected with the main line of railroad running Into filohe Arinii;i Eastern the- future of Superior and Boston uppears extremely promising." the balance of tho month will be ll.ooo.oa more, making tne total re turns for the month $2. ."00. 00. As the operating expenses at the mine were only about $1,500, this will show n net profit e.f ll.noo in the month of Aug ust. The steam plant has now been com. pit. ted and is In operation, and the directors have given orders to sink the shaft another .erne hundred feet l;n mcdiately. in the meantime4, drifting will continue in the east drift at the 50 foot level, where three feet of ore assaying $27.00 per ton has been open ed up. It is extremely likely that the .ompany will soon be shipping ore from three separate points In the mine. Minnear & Co.'s Gossip MONTANA -CLINTON Re- Returns nf Shipment August 16 ceived at Local Office The home office of he Montana Clin ton Copper company Is In receipt of n draft for $.": lit 2. being the net smelter returns on 2D'i tons shipped to the Eat Helena Smelti r on Aug gust Kith. This shipment, according to the smelter certificate, ran $10.61 In gold, I11..M In silver. $2 01 in lead, nnd $t..Vl In eoppor, per ton. The local office- has been advised that another enr whs shipped a few day ngo, and if is expected that nn edhrr carload will go forward in a dny or two. The total returns thus far during the month of August wt-rt-$1,431.10, and the probable returns for "WILLIE" NOTICE OF DIVIDEND Calumet & Arizona Min ing Company lias declared dividend of One Dollar ($1 .00) a share, payable Sep tember 19th, 1910, to stock holders of record September 2nd, 1910. Transfer books close at close of business September 2nd, 1910, and re open Sep tember 12th.. 1910, at ten o'clock a.m. CORDON R. CAMPBELL. Stockholders of the Miami Copper ompany have authorizes! an increase f 100,000 shares, par value $3, of the oinpany's capital, inireasing the to tal capital to $1,004,00'). The stock- nohters also autiiorize-ti tnc agree ment for the underwriting with the Jeneral Dcve lopmcnt company. The Calumet & llecla quarterly di vidend of $7 per share Is payable .-M-ptcinheT 2S to stoek of record, Au gust 31st. The demurrer on the North Iluttc unl Tuolumne will be argued next Saturday. The larse nnd costly surface plant, t l'arrott will be abandoned as it has !een found more economical to work It through the Anaconda. The Wyandotte drill is said to have ut a promising looking copper bear ing lode in the southwest corner ef Section 16. The drill showed a width of 40 feet and a lode identified nt the surface in a trench as the same howod a similar width. A diamond drill 500 feet west of the shaft of Algomah has gone into service and some important results are expected there. The company hope's te have the location of a boc- ond shaft determined by spring. National Exploration will continue the work of sinking a shaft near the Arizona-Commercial boundaries In which such an excellent showing was recently made. Old Dominion is confining the ma r part of its operations to put ting the property In the highest state of efficiency against a bettered state f affairs. Domestic consumers took between oo.ooo and 1, (too. ooo pounds last week at 124 cents a pound. Paine, Webber & Co's Gossip The market for electrolytic cop per eoiitinue-s strong at 12; cents. On Thursday and Eriday last domes tic consumers npain came Into the market for noo.ouo ;md erne million pound lots which were supplied at this figure. Naturally tho recent heavy sales provided American manu facturers with the bulk of their rc- tuireiiients for a couple of months, but orders continue from some con sumers who eithe r did not buy their full reuirenu uta on tho advance to 12 7-i cents or underestimated the amounts needed. There eloe-s not ap pear at this moment to be any spec ulation in th: metal on this side of the Atlantic. European buyers al ways have their ars to the ground for the slightest inkling of a reac tion upon which to buy the purchas er for foreign account during tho past week or so have not been large. The lioston office of the South Like Mining company has received u dis patch that tho diamond drill at No. I ho.. i,;is located tin' lode, cut at 74S feet in No. 3 hole in June last, at a depth of lO'.il feet. t,d at 1.100 feet a very km 1 core has been raised. The lodo looks very promising. Cay & Slorgis' Gossip lloston, Mass., Aug. 30. There Is no (piotion but what market has in e n in a sold-out condition for somd time, but it is in need of a market leader. The powers that be; have the stoeks but are not In a mood to advance; price's. The short interest is being nursed along and probably is as large today it it lias been. This Is a strong factor in itself in view of the fact that two of the most active stoe-ks, Steel common and Amalga mated are leaning H it. We- believe the market will werk within narrow limits for tho present, but the next decided turn Is bound to be for be tter prices. II. U Hall. Another dull day with trading at a standstill. American stocks In Ion don steady. Considerable bear talk in e vidence nnd bear tips have been put in circulation. Ibitog for sixty and nfnoty day money are and sup ply scarce, Te.o much uncertainty ahead for a bull market and a trad ing market Is about all than can be looked for at prem-nt." No material rhange In curb prices. lioston. Mays., Aug. 30. Ariz. CnnVl. '.oil. Calumet Arizona ,23, North Jlutto L.10, Sup. Copper 144, 8. & It. 2r.fi. Clroiix 4!0. Hancock 10, Indiana !!'. Koyule Ho. ike 22j, OrceiiB Can iiiea loo. Fun. & I'ltH. 100, North Lake "i0, (Jranbv US, Tomaraok 10. .nth Iike newest lode .ht been inten d ?0 Tect w ithout' Stflklnff foot wall. It Ia exceedingly rich. Moaawk Mining company during July showed a better grade of rock mined the copper contents averaging 14.2 pemin's per ton. This Is an Improve ment over June of about pound of copper pr ton. The retlned yield for the month was S'O I.Sol pounds. .News liure-au. STOCKS lioston, Mass. The market today dioweel the same lack of public Inter est. Stoeks were bid up tlds morning it the opening but by noon time had aleii into the old dullness and sagge'd to yev-ierday s closing llgurcs. The local market was as dull as ever and howed no change in price. The ma jority of stocks were not emoted at all and we shall probably see itte change in present conditions until after the holiday from l'rlday to Tuesday. Fos ter of raine. Weber & Co. Houghton, Mich., Aug. 30. The dls .losute of copper ground In No. 2 shaft commanding the south part of Su perior's property will, If It hold out, plaee the future of the probity in good shape. No. 2 shaft. 2.S00 ftet southward, lias not been able, until this week, to cut copper ground, in spite of its 130-foot depth and considerable cross-cutting and drifting, consequently this reversal "f the former unfavorable conditions there Is highly gratifying and may be imped to lead Into permanently cu rb bed ground. (lay & Sturgis. BOSTON STOCKS. (Paine, Webber & Co.) Hid. Asked Amal 6li 64; Adventure G 7 Allow 41 43 Arcadia 5ax .... Atlantic G 7 Ally.. Co.n lC'Vi 17U liutte & Dalk. C-y4 7 Ilo.-ton Cr 13'4 13 Coalition 18 1!) Coi per Ilangc t6'i 67 C. r A CO 61 C. & 11. .. Centennial Daly We: t Kml Ibilte Franklin ")60ax ISax G 7'i 10 Vi Olroux 6 tiranby 3lax clreene Can 7V4 Hancock -0 Vie Helvetia 214 Indiana Isle Koyalo Kerr Lake . . Keweenaw Iakc Iiii Salle ; ISVj 19 6 3 3G',4 10 Mass ' Miami 19 Mich U Mohawk ' Nov Coif -WVa North r.utte 2S North I.oke 10 Nipis.-lng 10 Old Doni 3 Osceola 122 ojilliway 5 Parrot 13 Qulncy ! Ilay Cons 1" Sup. & lloston Shannon Sup. &. Pitts Seiporiof .... 11. . Mining Tamarack ... Victoria Winona Wyandot ... Wolverine ... ... 10 ... 11 Mi ... 43'j .. 3S ...56 ... 3 , .. 8 ... 1 122 CVi 8 11 CM 7V4 21Vi 2 19 19 7 3 3ti78 10'i 8 19'. 4 5 49 20 2S 10 '4 10 37 12S . G 14 75 iht; KVi 10 V 1 46i 39 58 3 8V4 1 12S NEW YORK STOCKS. (Jay and Sturgls furnish the follow ing New York quotations. Open Amal 63 Anaconda Atchison 57 II. Sc O 104 H. It. T 74 Can. Pacific ijjvii C. A O "3 Colo. Fuel 30 Brio 5t. North, prd - Mo. Pacific? 33 M. K & T N. Y. Ce ntral wn Nor. rncifio 11 -ft Pcnna 1-8 Heading 141 Hock Island 30V St. Paul 2y Smelters .; 6"!! So. Piclfic 1'2, Sugar Stee l pfd . .1 it VH Tenn. Copper Prion Pacific ..... IT. S. Steel .167 .70 Close 64 40 97 103 74- 193 73 30 25 123 33 31 111 114 128 142 30 120 67 113 119 116 20 166 70 uialnder of the Vcek because of the three-day holiday so eiose ut hand. UNLISTED STOCKS. J. A. Minnear & Co. sny today: h market was fairly started In tho llrst hour but a rumor was then cir tulateel to the effect that the Czar of rtusla had been assassinated and ntockx were qulto generally sold by professionals. However, a sliKht rally was noted after this wave of selling was ended and the close came with the market well In hand nnd giving further Indications r,t betterment. iCop per shares were dull and the chftnge were of little Importance. Puylng or der were executed with some dlfTl. culty and offerings wero light. Wo will probably sec little activity for the re- "WILLIE" (J. A. Minnar Si Co.) Hid. Algomah 13'4 Aria. At Mich 20 Ah meek ISO r.utte Hjlk 6 Itohemla 6 Chemung 6 Chief Cons 1 Col. Cons ' "i Cordova CtUte-a 2 e'hlno 14 Ca. i Mont. ... .nj Cot bin Cop 5 Cactus 1 Davis Daly 1 Denn Ariz 3 First Nil. Mng 3 Fa I rv lew 1 Ooldlleld Coua C.ila 6 Clroux fi Homciitake NG llerniina Helvetia 2 Hancock 21 Indiana IS',4 Inspiration 8 Keweenaw 3 Kerr Lake 6 Keating 90 In Hose 37g Iiike Copper 36 I S. & A 1 Live Oak 16 MJaml 19 New Keystone 3 New lialllc 5 Nlpisslng .: 10 North Lako 9 OJlbway 6 llHH'li 2 Ilay Cons 1S Sierra 2 Shattuck 22 Santa Rosalia I u. Olohe .20 Sup. & lloston 8 Sup. & Pitts 11 So. Columbus OS So Iike S Vonopah . S Warrior ..... ..... 5 Yuma 40 Asked 13 v30 190 7 6 k .Si .90 2 H7i 1 G l7s 1 3 4 1 S 6 6 SS 21 18 8 ',4 3 7 .93 4 37 13 19 3 6 10 10 6 2 19 2 23 .50 .25 8 11 .11 8 9 6 .50 TO INVESTIGATE CHARGES. New York, Aug. 30. The special Joint legislative committee appointed to Investigate charges of corruption In public life, as brought out during the Allds-Conger trial and the In surance examination recently held by Superintendent Hotchklss of the state insurance department, met today to begin its public hearings. Owing to tho nunil)i;r of witnesses to bo heard It is probable the hearings will last month or longer., ,' David Arinit Lots for Sale in Philipsville and Renova LIFE, FIRE, ACCIDENT AND PLATE GLASS INSURANCE. REAL ESTATE. On corner lot at corner Lake Linden ave. and Hecla street, Laurium. Good for business place. Office Richetta Block, Hecla St- Laurium. Phone 266. sfl CLASSIFIED ADS HELP WANTED FEMALE. WANTF.D At once experienced girl for general housework. Mrs. F. II. Lyon, opposite Calumet hotel. NTKD-A work. -Mrs. South Cth st.. fcirl for general liou.ic A. U. MvConnick. 3912 Newtown. 255 FOR RENT. FOU UHNT Furnished Hat, gas elec tric light, steam heat. Phone 411 J. X FOU ItKNT 2 .furnished rooms all modern conveniences, 166 Woodland Ave. 25G FOU 6th UFNT Furnished St. room, 31S FOR SLE FOU SAI.N Large hard coal heater, In good condition, dining room ta ble very cheap.- Apply 109 Kighth street. Order your Ontonagon Fvergrcen Sweet Corn from A. J. Lean, Phono No. 403. 257 LOST AND FOUND. FIRE INSURANCE AGENTS. Port Huron, Mich., Aug. 30. An im portant gathering -j of. insurance men the Michigan Association eif Local Fire Insurance Agents conveneil here today with , many members, in nttend- ance, in ncMlllnn to a considerable number of prominent fire insurance LOST Last Tuesday ladies' gold watch at Fugle Uivcr, black fob, let ter "V." on. Finder return to News ofllce. Howard. 255 men from Detroit, Chicago and edher points. The proposed lire marshal and agents' license bills are among the important matters to be dis cussed during the two days' session. From the Pordeaux district of r t Fnlnce 19,500.000 pounds of Walnuts were exported during the fall season of 1909. Wedding INVITATIONS ANNOUNCEMENTS and AT-HOME . CARDS. Printed or Engraved llntabllshcil isso Paine, Webber & o. Members Mew York Stock Exchange " Boston Stock Exchange " New York Cotton Exchange " Ghicatfo Hoard of Trade Duluth Stock Exchange CUIill STOCKS GIVEN SPlZGiaL 71 TTJIXTIOX MHlIV7lTn WiUn TO TILL MXltKKTS Galumct OfficcFninc Webber Building M. J. O'BRIBJV, lies. M&r. Tclcphoncs-S26, 827 and 828 The Market at a Glance NEW YORK MARKE SHOWED EARLY STRENGTH. LATER DECLINES DUE TO HUMOR RUSSIAN CZAR ASSASSIN' ATED. COPPER STOCKS FIRM THOU GH DULL. CURBS SLIGHTLY CH ANG-D FOR THE DAY. J. A. MINNtfAR & CO., Brokers CALUMET, MICH. LAURIUM, MICH. PRIVATE TELEPHONE EXCHANGE 4)Ot)0')9))O9 oV4O0e4)4O Gay & Sturgis 101 Milk St., Boston, Mass. Members of The Boston Stock Exchange ,i . DEALERS IN Bonds and Stocks, Listed and Unlisted Our facilities for handling your utock badness Is unsurpassed. Direct private wire to lJjston, Duluth and Houghton. Also direct connection with llornblower & Weeks, members of the New York Stock Exchange, with ofTlces at Chicago and Detroit THOMAS MULLEN Mgr. OmCE K yiFTH ST. PHONES 8111 AND 814 Phone 209 CALUMET NEWS It is a mistake for any mer chant to assure himself that his store is so well known that it does not require newspaper advertising-that the trade will natnrally drift his way anyhow. There isn't a store any where in the world that has so secure a footing as that--not a single store-and in any field sales can be increased by the right kind of newspaper advertising.1 A. TENNYSON PRYOR WARD D SMJTH Phones 818 and 810 South PRYOR & SMITH BROKERS 37 Isle Royalc St., Houghton, Mien. Direct Private wires to Boston and New York Stock Exchanges WM. DVFFNEY, Manager CURB MINING ISSUES A SPECIALTY. Relltble Information from Competent Mining Engineers and Corres pondents in the Various Mining Camps at the Disposal of Our Clients. CALUMET STATE BANK Capital $100,000 Surplus $30,000 OFFICERS THOMAS HOATSON, President. EDWARD ULSETH, Vice President. 4. W. SELDEN, 2nd Vice President. F. J. KOHLHAAS, Cashier. WALTER EDWARDS, Asst. Cashier. INTEREST PAID ON SAVINGS DEPOSITS C0)C ml The Old Reliable New resorts may spring up every year, but none of them can keep the, pace this beautiful park has set. More Excursions and Picnics booked this'year than any previous year. Always the Same Cool Comfortable and Restful Enjoy a first class rail ride to and from the park. ' lloston, Aug. 30. Operation t "'