4 PAGE TWO. t
THE CALUMET NEWS.
MONDAY, SEPTEMBER 11, 19H.
PLAN TO BETTER
U. P. BOOSTERS WILL WORK TO
BETWEEN HERE ANQ,
"lVtrnit hospitality oouM not "have
been t-Kct-IU'il," Hld PreM .'lit C.rce n,
f the CpiK-r .Peninsula 1 velopmcnt
bureau In speaking mt tin ent trip
of the U. P. Hoostera to t city.
iiut the material benefits v ich will
develop fr-Tn.thl visit will .greatly
outlive 'i: ..ige-iing memories f mir
r!?is;:.l i.:. .- The Detroit Hoard of
Co-i.merce has cxpresse a willingness
to co-operate with us .it mir attempt
to lower freight rates and increase the
efficiency of service between Detroit
mid upper peninsula towns. At pres
ent we can mini freight to Chicago,
Jn nearly half the time and at nearly
half the cost that we can to Detroit.
For example, lumber rates from Me
nominee are IS tents a hundred to P
tioit and only 10 cents to Chicago.
"The uH- nn for this seems to
le that tli 1 snl. i has never inad
iiny s-treir rt to better Its rail
road iterv,.. .-.lipinerits have Hot
been very heavy, certainly not as heavy
as they will be in the future, and the
railroads have eoP!Kied their .service
.id-vij.ttc their rates low enough.
( - trat ; itioa committee is tak
Ji up the matter and we are now
assured of Detroit's support. I think
tliH roads vlll soon comply with our
ro,irst for more frequent and cheap
Plans Cruise Next Year.
"So enthusiastic are . the members
over their, first cruise that they are
determined to repeat It next year, al
though Detroit may net be visited, as
we d' not wish to wear out our w 1
come there," said Theodore E. Quinby.
manager of th bureau, and former
"our boosters' organization is only
nn infant, but It Is a lusty one and
it is .-oing to bring- the tipper pen
insula before the public. Since It was
established last February, lSn.ouO piec
es of advertising- literature have been
mailed. Am a proof that we are be
coming known throughout the country,
we have received invitations to loan
exhibits of cur products at Chicago,
Pittsburg, Minneapolis and many oth
"Many of our greatest resources
hive not been tapped yet. We have
more hard-wood timber standing than
any other locality In the country.
There are vast opportunities for iron
nnd foundries in the heart of Hie
mining district. Hut vthat we want
most am people. Our population at
present is approximately .l.'d.ono, while
we re able to support three times that
.vs the Milwaukee Evening Wisecn-
i.:. Dt-Ivey came to Milwaukee some
cars ago from Houghton. Mich, lie
was for three years nianstevr of the St.
Charles hotel, having there to become
manager of the eating house sjstem
en the M. K. & T. railroad between
St. Eoul and the city of Mexico. The
work and th climate caused his health
to become Impaired, and he returned to
Milwaukee, ttking the management of
tie Hotel Maryland when it was open
ed a year ago. Of late, however, ho
had not been we 11, and made scvcal
trip to the West Haden springs for
recti peratVn. t:'"g t'nally to ttie S?ac
rxt Heart for treatment.
Previous to going to Milwaukee somo
years ago to take the management ef
thrt St. Ch.trlc hotel, Mr. Ddvcy was
employed as cU-rk at the 1 knights
House In Houghton. He was one vf
the. most popular hotel nun in th
northwest and his passing will be re
gretted by his many friends.
1 50 YEARS OLD
SEMI CENTENNIAL WILL BECEL
EBRATEO VILLAGE INCOR
BELL AT DANGEROUS SPOT.
Alarm Placed by Chief Voetch
"Dead Man't Curve."
An alarm bell was placed Saturday
by I.oi.-s Voctsch at the intersection
of sh en and IVanklin streets and
College avenue, to be rung when tiro
alarms are turned In from Kast
Houghton. There Is always consider
able congestion of t rattle at this point
of automobile's and ve hicles and as It
is Impossible to si'O approaching ve
hicles until the y have le-a -bed the
curve, it Is a point of considerable
danger. The gong is to bo set ringing
by the touching of a button in the
fire station, whenever a fire alarm Is
.sent in fn in liest Houghton, warning
drivers of teams and autos that the
firemen are coining, and to give them
a (bar road. Chief Voctsch desires
to impress upon drivers the need of
obeying the alarm Immediately and
thereby averting possible accidents.
- CHARGED WITH CRUELTY.
Hurontown Man Arrested on Charge
of Cruelty to a Horse.
T.ouIs Hl.ilso of Hurontown was ar
rested Saturday night by Mticer
Mitchell of Houghton, on a charge of
cruelty to animals lilalse was driv
ing a horse belonging to Richard
James, the Dodgcvlllo liveryman and
the officer noticed that it was bleeding
at the mouth, apparently from the
driver pulling on the bridle. The
owner of the hore was asked to
come- and get the h so, which lilalse
dee-lared had become unmanageable'.
James stated the horse was Inclined
to be wild any way, and was a elitlloult
animal to drive-, lilalse pbaib-.l not
guilty and his hearing will take- place
before Justice T. t tie at 10 o'clock a.
m., September 2.". v
C W. DELVEY IS DEAD.
Former Popular Clerk of Douglass
House Pases Awiy.
Chstr W. De-lvey. man. ite r of the
Hote l Maryland, and f u rn. rlv manager
of the .?. CJ.arb s hot. 1. die I this mr r
ring at the Sfcred Heart sinitariuri.
The regular monthly meeting of the
'ouehton c :'-ty board i f supervisors
.d be Ion norrow morning. Among
the matters likely to he ac ted upon is
appointing f a mine inspector to
cee-d the late Inspe-ctor Dnwe.
he funeral of the late Jose ph WIs
su,s of Houghton, who died lat Sat
urday, was held thifl morning, uerv
I' es taking jdare at St. Ignatius c hurch
and inte rment at 1'ore st Hill ee nn te-ry.
Ills son, Fred WJssIng, of Chicago,
en me here to attend the funeral.
Till fall occurs the completion of
fifty years of the existence of tho fire
department eif the village of Houghton
and at the r gular meeting cf the Con
tinental Kre emiany to be hMd to
m..rrov night step will be taken to
wards arranging for the ediservance o
tiie semi-centennial in a fitting man
ner. No plana have been e-onsldere
as yet, but It is thought the celebra
tion will take tlte-foi in either of
ban.ue't r a ball.
The fire company was organized In
l.vfll under the oiHclal supervision
the late It. M Hoar then the leading
j merchant of Houghton, a member of
I I'he first board of village tru.stee
and one of the mest aeHlve of Hough
ton's iltiz.na in lmblic life. The fire
company then organized was one of
the be'st up to the present time. T.ie
and It has continued to be among
the best In this ne-ctlen at that fine
tlrst engine purchase-d by the village-
was the last Improved ham! engine
u seel iii Detroit. About 1S72 a y tea in
tire engine was purchased and Is still
In us when occasion requires it
About lSv; a brick engine house was
erected, in connection with a new
town hali forty-six by sixty feet In
size arid two storb-s In height. A cH
tern beneath the building, construct
ed of stone and lined Inside with
brick, together with other wate-r fa
cllities, afforded a sufficient supply of
water to ceunbat uny fires occurring in
the village nt that period.
Anniversary of Village.
flieslebs being the anniversary of
the fir.- e-ompany, the year liell marks
the ru n "in g eiut of half a century of
the incorporation of -Houghton as a
village, It having been incorporate
November 4, ISfil, under the ge-nral
incorporation law of 18IV7. and having
at the time a population of 2,1
whites, eighteen cohered persons and
The lirst elect Ion of village olhCM-rs
was held at the office of John At wood
Hece-ml-er 2, Ufil at which 1ST. votes
were- cast and which resulted In the
election of the following: President.
William Halney: cbrk, John At wood;
treasurer, William Harris; assessors
Seth Ueese and Alexander pope; trus
tees. William Miller, who was one of
the first proprietors ef the old Knauf
hotel, burned last week, Ivlward Ro
ma, Oeorge Fuller, James I Reed, Ti.
M. Hoar and Jay A. Hubbell; street
commissioners, Thomas M. Hubbell,
Klwin Iterrer and Ransom Shelden,
John At wood, Thomas J. I frown anil
John Klandy were Inspectors at this
Trirrity Church Anniversary.
In 1SC1. fifty ears ago, Trinity
F.piscopal church was erected on the
site eif the present Congregational
e nurcn in Itarie o. k. Alter It was up
i tul enclosed, and partly plastered.
the llo.'ghton people returned to the
Hancock subscribers the money they
had paid to aid in the erection of the
building, moved It from its founda
tion, ran it down the hill, and placed
It upon two large- scows, bonnt to
gether by heavy timbers, and started
U. S. Department of Agriculture.
WEATHER . BUREAU
IVILUS L, MOORE.. ClueC
t , t -u ' . yj I I S ( fx
.'.. Mlinm.pMthrnuiipc,ii.Luf Wu.l t f)' X f ''4"J ,.f' f . .
ii across I'ortago Lake. Tho lake
had commenced to frecao over
Places, and above where the bridge
now stands considerable ice h
frin-d. Small row boats Marled
tow It over, breaking the thin Ico be
lore them a they went. Wlion ne.
the middle of the lake, rt stiff bree
struck the church nnd the scow, with
the church acting as a will, started
n lively speed Jn tho direction
Portage Kntry. A long cidl of new
rope had been made fast and carried
by a small boat to the Houghton tdd
just be-foro the strangely frelglite
craft ran out Into the open wate
barely In time for R. M. olfar to take
a turn with the cable nround a large
tree! mi the bank. The craft tralne
at the rope, which lvns slackened
little and tho scows then held fast
swung nround to the shore, anl mm
a landing near tho old fe-rry, wrecking
the- pcows on tho rocks. From t hi
eilnt It waa taken up tlm hill an
placet! upon foundations which had
been prepared where the present nc
and Imposing edifice of Trinity ehuro
now Mauds. In 187i improvements
were made in the Interior of the
church, a memorial window being
placed above the altar, and a set o
altar vessels obtained, made from tho
ratlve pllvor of Ijake Superior.
ESKOLA CASE TAKEN UP
IN CIRCUIT COURT TODA
PANEL IS EXHAUSTED IN AN EF
FORT TO SECURE A JURY.
Case of People vs. John Peroni
Over Until Next Term.
The trial of. Matt Kskola, proprletc
of the Hotel McCoy In Houghton
charged with keeping a disorderly
house, waa called on the convening o
circuit court this morning, nnd the en
tire forenoon session was taken up In
tho drawing of a jury. The regular
panel was e xhausted and It was neces
sary to secure additional veniremen
This case is one of the most Interest
in of (he present term, Kskola being
charged with keeping a disorderly
house, tho complaint following the
conclusion of the so-called "whit
slave" case, in which Rskola was a de
feu. hint at the May term of court. Kv
Mayotte, the principal witness In tlv
latter case, will be called to testify In
the pre se-nt trial. Angus Kerr of Calu
met Is associated with H. A. McNally
as counsel for the defense.
I'he- trial of John Peroni of IfanctK-k
charged with keeping a disorderly
house, was this morning continued un
til the next t-rm of court, on applica
tion of Attorney J. b Mambitzer, for
BARAGA I. O. O. F. TO BUILD.
At a me-etlng of the P.araga Odd Fel
lows a building committee. In charg
f Victor Reeel. was appointed to look
afte-r the new home of (he Order, which
will e built on the lot vvest of the
Pioneer Cigar' Factory, says the TAnse
Sentinel. It is exi.eettd that active
iillding oiM-rathms will commence next
week. The Odd Fellows l.lan to erec
neat substantial home. The build
ing will be a two story frame structure
and -will cos! In the' neighborhood of
S3, 000. The dimensions will he 2'JxCI
.j. : . 4. .j, .j, ,j,
,c! Of pre
ineil ltna. thrmi.h nnlntanf & .l i.n.
(nttuiu. il.ajr will lilrwn on I) ltr Mm. f rnviiDii. W. and Inf.
j DTMBnl lulcl (! of wowlhor: Q slMkr, Mrtlf
odf; Q tUtvAf. (p)rln; (g).now. Q) reiKrt niini.
ArrmM flr with th rtnd Fin nuar. (miri..ir.; mcnnit '
S4-l'nr rainfall, If It wiuala til inn, thirU, win l.,ce of lb
-iiiaa par hour or Binr.
low " .
; t a "
j, a SUte ot X
J Weatis. '5
JMpena CO C2 Chmiiy sw 6 0
Buffalo .rCC CI Clear 4 0
Cnmni .t2 r52 Fggy tw 8 .H
DuJoCD MM..f!2 T.H Clear aw 12 0
KaoaoatUk .Bt C8 Fe'ggy sw 4 .01
Grell nf ,.r!2 60 Foggy h H 0
Houghton .. .r,r, .12 Cloudy ne 4 0
Marquette ..fit r,S Clear a 10 0
Milwaukee? ..61 C2 Fuggy w H .76
Tort. Canal.. Cloudy g
Ft. Paul ,r..6u CO ftaln sw 16 .62
Fan Pre. ...r.s t.d Cloudy nw 4 0
Wishlnjrton h C Itiiin nw 4 .C2
YtlnnltKB ..$ ? Cloudy n 1$ 0
Ixcal offlre IT. S. Weather Pureaii.
Houghton, Mich., Se fit. II, FN.
Forecasts Till 7 P. M. Tuesday:
Copper Country: Cloudy tonight,
Tuesday fair; iobr.
T'pper Michigan: Cloudy tonight,
(ooh-r west and central portion, Tues
day fair and cooler.
1ake Superior; Light to moderate
'A storm ana of slight Intensity 1s
central this morning over tlm Iike
Region and Is causing cloudy weather
and light rains In its vicinity. Moeler-
fitely heavy rains are reported from
the central part e.f th country. Dense
fog Is refuted from f. veral statlonw In
the. ike Iteglon thl.- morning. Fair
weather will prevail In thla vicinity to-
night follow xl by clearing Tuesday.
The wind will 1h light to moderate
IL II. COWHRICK,
Acting Official in Charge.
" "I thought you aold your automo
bile?" "No," replied Farmer Corntos
Bd, "I traded the machine off for that
horse over there." "Hut you seem to
have both the auto and tho horse"
Yea. I made ft contrac that he waa
to give mo the haulln' the machine out
every time he got stuck or broke
down. Finally he owed me ho much
that he turned the auto back as part
"Father, what Is nn anarchist?"
"tSenerally he's a man that has no
Job and Is afraid somebody will find
one for him."
Thomas II. Tracy of IAnse was
visitor in Houghton' yesterday.
Mr. and Mrs. C. H Frlnmdlg are
the parents of. a son born last week.
itotslord McUan left Sunday for
fh-ndale, Ohio, where he will attend
W. II. Dee nnd son, Leslie, left ye-s
terday for a visit jtpolnts in Mln
Miss Hazel Dumonlhier left yestcr
day for Chicago to' take a course of
study In a hospital as a trained nurse
The Houghton e-onnty board of jail
Inspectors will hold . Its semi-annual
meeting nt the office of the county
Judge ef prokito. next Saturday nmrn-
lnrr. Those constituting the board arc
Judge of Probate , Hentlev. Count v
Agent W. II. Mason nnd poor Sup-rin
temlents Lyon. Stahl snd Morrison.
Jacob Jarvls and Attorney Harry
(-organ have moved, their offices from
the Shelden-I)ee building (o the Hosch
building, occupying.' rooms adjoining
those of Justice Little.
Marriage licenses have been . Issued
to Oscar SteJnheld . of Trlmountaln
nnd Pauline Messncr of Houghton;
t'liarp-s It. Hyvone n and Ina Planks
from of Calumet; nnd to Jure Hrondic
mid Mando Hodollc. both of Calumet.
A change In somn of the depart
ments of the Copper Itange railroad
at Houghton went int effect this
morning, John Ite-ntenbac'h being made
freight agent, with general supervision
of th- freight station, nnd O. I Ifal
com being made passenger ticket
A large number .of Port ago Tyike
people visited the canal yesterday en
ine tug Valerie to see the wreck of
the Morel.ind. The pleafant weather
was also take n advantage of by large
numbers to take the trip to the Kntry
nnd other resorts.
J. F. Hall, Dr. T. M. Cunlnghnm and
Frank f1. Jenks of Marquette visited
Houghton Saturday for the purpose of
practicing on the golf links of the
Portage Ijike JoIf chih. They were
entertulned while 'nere by members of
the local club.
A largo number of friends gathered
.t the home of Mrs. 1. Hartman of
Houghton on Friday evening nnd help,
ed her to celebrate the seventy-first
anniversary of he-r birth. The evening
vns a ve ry enjoyable one. Mrs. Hart
mon has resided n Houghton more
than fifty years.
Mora Houghton en Page Three.
GOSSIP V....1:1 JNNEAR
NEW YORK, SEPT. 8
The market this week has been drifting along In
somewhat Btupld manner, and until latterly with cvl
tUnce of a desire to rally, ami while some Improvement
was made in prices, towards the closo of the week furthc
t.ejlling developed in Union Pacific, which, of course wi
tho signal for weakness elsewhere, und as we write t
;Ht lookj very Male and flat.
Of new a to account for the late pressia-p, there is nno
and In this respect tho market Is without nn explanation
much as it has been on tho previous heavy decllno.
Probably, the larger feature of interest liaa been to
dny's government crop report, which docs not show
very pleasing collection ef figures, for while there la some
Improvement In the corn nnd oats crop, there Is none
n Fprln;r wheat, which together with winter wheat In
tlicates .1 total yield ef only about 658.000,000, while that
extremely useful crop, hiy, is reduced to less than 47
C'00,000 a against over 60,000,000 last year.
la trade, there seems to be a note of improvement in
one or two directions evidenced further by a substantial
Increase !n the August bank clearing. The labor dls
rules out West however have had a halting Influence, al
though we doubt for obvious reasonB, the likelihood of
strikes in that direction.
Wo are not, however, pessimistic on security values
We believe the late selling to be! largely for the? already
over-extended short account, nnd wo would prefer to meet
this devllne with purchases rather than following the
present very fashionable side of the market. 'N. J. Mllle
of .Miller & Co.
BOSTON, MASS., SEPT. 8.
The announcement of tho Copper Producer's figures
yesterday furnished a pleasant surprise In the curtail
nunt of approximately four nnd a quarter million pounds,
whereas a negative rsult would have been considered
Production of most of the mines owing to n very full
month from the working day standpoint and to better re
covcry from ore treated as well as from the Increasing
volume from the new perphyr!es contributed to make
higher output all along the lino.
That , this was so easily taken care of was due to the
tcsumptlon of foreign demand in tho latter pnrt of the
month, whereas It had been slack in the first half nnd
from the fact that the small American consumers were In
tho market for nn unusually large supply of red metal
throughout tho month. The big consumers laid hack on
their oars during tho entire period, w'hlch led to a rather
icsslmlstld outlook In the tlrst half of the month.
Tlie present state of affairs however, leads to the con
elusion so often stated nnd much persevered in that the
copper situation has turned the corner nnd It now seems
that production Is at length being slowly nnd rdcndlly
verconio bv consumption to nn extent that will take
enro of all present and premised production for tho cur
rent year. If t'.io enlargement of consumption to pro
ductlon continues during next year we should see a still
more promising stato of affairs. That tho copper sltua
tion has gone on steadily bettering with general trnd In
iti present condition, and with tho foreign situation caus
Ing u 11ms t throughout Europe la certainly ns good a tes
timonlal as could be desired. The steady drain upon
mine s of the eountrv nnd tho steady nslnir of copper ns it
produced can in the end produce only one effect no mat
lev nt what level copper Is now selling for, nor how long
it may continue. J. II. Cody of Miller & Co.
SUPERIOR AND BOSTON-ARIZONA COMMERCIAL
Only those who have had the opportunity of visiting
the Olobo camp and Inspecting the properties of the Su
icrlor & Jloston nnd Arizona-Commercial companies can
ealize the great advantago which will accrue ns a result
of the proposed consolidation of these two companies,
Tho announcement of tho terms whereby Superior &
P.oston would absorb Arizona Commercial was made this
week nnd viewed Irom every angle, it Is an eminently fa
vcrablo bafcls. Superior & Hoston will Increase lis capl
taxation to C5O.O00 shares, of which all but 5,000, share
v. ill be outstanding. A special meeting of Superior &
Hoston isharoholdcrs Is called for September 30th for the
purpose of voting on tho plan, and transfer books vv'll
be closed September 2.rth nnd vjll re-open Octfiber 2d
According to the terms whereby the two properties are
to bo consolidated, Superior & Hoston will Issue 200,000
shares to be exchanged for $1,000,000 bonds now out
standing of Arizona Commercial on a basis of 100 shari
of Superior & Hoston for each $500 bond, providing 75
f.f the bondholders accept tho offer.
An Issue of $000,000, nix per cent, bonds convertible
al $5 will also be made in denominations of $100, $r,00 and
$1000 to bo dated November 1, 1911, und payable In ten
years. These bonds can be converted into stock between
November 1, 1912 nnd November 1, 1910 nt $3 a idiare,
nd are t bo redeemable nt 110. To provide for this
redemption, 120,000 shares of Superior & Hoston stock
will be set aside. Subscription to these bonds are open
nly to Arizona Ceunmerclal shareholders, and with each
subscription of $100, a bonus of 20 shares of Superior &
P.oston slock will be given. This will call for an Issue of
CO.OOO shaies of Superior & Hoston stock. This bond Issue
has been fully underwritten. To recapitulate, the stock
Issue will be ns follows:
Superior & Hoston shares now Issued. .28.1,000
For Arizona Commercial bonds 200,000
To convert new bond Issue 120,000
For Arizona Commercial subscription
In treasury 0,000
Total Capital G.'.O.OOO
With the consummation of the proposed consolidation
of the twe companies, Superior & Hoston will have In Its
treasury In excess of $(500,000, a property fully paid for
nd in addition, a smelter nnd railroad. It will be able
to operate at five different points, namely: the McOaw,
Oardner nnd Limestone of Superior j Boston's present
holdings, and tho Rurcka and Copper Hill properties of
Arizona Commercial. With so large a treasury balance,
more aggressive operations will bo possible, nnd tho early
sumption of production on a considerable scale.
There was considerable selling tt both Arizona Com-
merclal nnd Superior & Hoston stock Immediately upon
the publication of the terms of tho proposed consolida
tion. Tin selling of Superior A Hoston is believed to
hnvo ber-n for the account of Arizona Comme-rclal bond
holders who sold the stock against the shares they will
,w v "U'"",! Ui i"ir uonu holdings for Su.
perlor & HoBton stock.
Thero will be an Increase in ;he directorate of Superior
& Hoston from five to nine members. Arizona Cummer
clal Interests will be represented by four members or!
the Hoard, including N. L. Amster.
Operations at Arizona Commercial have been dicon.
tinued, pending the consummation of the proposed con,
solldatlon. The pumps are being operated, and the mine
kept freo from water.
It Is our opinion that after the deal Is closed. Superior
A Hoston shares will sell considerably higher, and we be.
lieve the stock offers great speculative possibilities around
New Haltlo was quite strong this week on the report
of a very favorable condition existing In the develop,
nicnts on the West hide. Drifting has been under way
for some time past and so far the results have been wry
gratifying. Tho developments In the past week were the
Lest yet obtained at tho property. . Thero is comparatively
:ittle New Baltic stock on the market so that sharp fitio-tu-.tlons
follow the announcement of important dcvelon
The shaft being sunk by the Keweenaw Copper Com
pany on tho Kearsarge lode has reached n depth of over
1200 fe-et. The shaft Is now partly In tho lode and at
121 fi feet the vein showed ui some good copper. The
footwall has shown In tho shaft In a number of cases,
tut it Is believed that the mineralization which has Just
pnpeinred Is greater than heretofore exposed.
The- management has not yet decided whether drifting
will be done at once, but It is not at all unlikely that Dm
vein will soon be explored. The shaft will be continued tr
1400 feet whore diamond drilling brought up a core well
t barged with e-oppcr.
OLD COLONY-MAYFLOWER 1
No. 9 diamond drill hole is being bored by Old Colony.
This lude Is now over 400 feet deep. It Is thought likely
that It will penctrnto tho horizon of the St. Louis vein
between 500 and COO fet.
Mayflower Is boring hole No. 15 which is close to 1300
feet In depth. Two promising veins were cut In this hole,
one in particular showing up rich In copper. It Is quite
possible tho company may decide to sink a shaft before
v Inter arrives. In this event tho company would find
lc necessary to call on shareholders for further treasury
Al a special meeting of South Hecla stockholders hell
this week, It was voted to sell the property for 120,000
shares of the new company, which Is now in process of
organization. As there nre outstanding 240,000 shares of
South Hecla, this will give present shareholders one
share of the new Company's stock for each two shares
of South Hecla they now hold.
The new Company which is being organized will have
a capitalization of 1,000,000 shares of a par valuo of $5
a dhare. 700,000 shares will be exchanged for properties.
In addition there will be a bond Issue of $1,000,000, of
which $500,000 will bo sold at par and the proceeds will
lid placed In tho Company's treasury for development
work. The remaining bonds will bo lield in tho treasury
to be seild as funds are required.
Among tho companies to be Included In tho new or
ganization are the City Rocks, Grizzly, South Hecla, Alta
Development. Flagstaff, Centennial Emma, Nina & Myr
tha. Copper Prince and Superior Alta. These properties
cover over 1800 acres, and are in the heart of the Little
Cottonwood district. Several other properties are like
ly to be included In the deal, among them being Columbus
Consolidated and Columbus Extension. Messrs. J. P.
Edwards and N. W. Halro are working on thla deal, and
It Is hoped to have the official announcement in tho
course of the next few weeks.
The advance In Tonopah to" $6 tills week caused con-
Mdcrable comment, and as yet there has been no satis
factory reason advanced for the upwurd movement. From
private Bourcca, however, we learn that during the past
few weeks developments nt tho mine have been very
satisfactory. The Company has opened up some very
promising ore bodies, nnd reserves, we are given to un
derstand, nre greater now than they have been the hut
two years. Production continues at the normul rate, and
fho Company is earning a trifle better than fifty cents
every three months. Thero was some talk of an ln
ceaseel dividend, but this is not at all likely.
It was reported this week that Tonopah had exercised
Its option on one of the properties which It had been
considering for some months past, and-the acquisition
of this property can be regarded as a very bullish point.
Tho new property while not a high grade one will pro.
vldo Tonopah with oro which can bo milled at a profit,
am! will serve to prolong the life of tho Compuny for
Thero was good buying of the stock on tho upward
movement and offerings have been comparatively light.
Anywhere around $6 a share. Tononah looks to be a,
cry attractive Investment.
CALUMET & ARIZONA . - .
Tho August production of Calumet & . Arizona waJ
,cr.0,000 pounds of blister copper. brlngJnir tho output
p to a basis of 55,000,000 peiunds per annum. At thU
rate Calumet & Arizona, with copper selling at 12V4 cents
pound or better, will have no difficulty whatover In
Maintaining Its dividend rate of $4 per annum. We aro
riven to understand that the Company proposes to keep
up Its present rate of production unless metal conditions
.ako a larger output advisable.
The same persistent buying of tho stock that; has been
In evidence for weeks past continue to bo noted, and
this buying appears to be coming from the samo source.
There has been somo selling of such Issues as Copper
Hnnge, Utah Copper, North Dutte tend lAmalgftmafed.
nnd fho reinvestment of the proceeds tn Calumet A Arl
rena promises to be a greater favorite both aa an In
ic-stment as well aa a speculative Issue.
The reorganization commltteo of Ely Central has ad-
orcssed tho shareholders what It terms ns Its final com
munication to Diem, and states that the period for de
positing Ely Centrnl stock and contributing lCc a share
111 be positively terminated October 1st.
Additional Houghton on page 3.
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