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WEDNESDAY. JANUARY 10, 1912. THE CALUMET NEWS PAGE SIX MfNES AND MINING, STOCKS AHMEEK. Dct lopincnt work t thf past cai mailt' available live levels of new ground ;it hoth No. ami 4 shafts of the Ah meek. rn.ihuU- ti from thl source ha thus far been confined lo the shipment loilou in- tin- prosecu- pounds, the first Increase reported since September l.'i I. i.si. ami one no4 In th Nasi surprising considering the cnor inoiiii I'tt fiiiln-1 exports, which, by tlii forccust : 1 1 1 cm client statement l i In- Copper PrtMlucers' Association MoaAaj next, it in not improbable that the tomes lion kI ili vclopmcnt work, ihcre being t.c deliveries- for December w ill reach no sloping 1,1 progress. Two I. vela the .000 pound, in the event of which sixth ami seventh, have been extended ! there in Imllcatcil total deliveries for ih. it- lull fruplfc, having reached the Mohawk hounitarv where the vein con ditions are iuiti satisfactory. Production for I SI has been esti mated at 1 .'..ooo.oini pounds ami costs, including expenditures .1 everv ile BcHptioa, cent, thus iKiintinR to I lie period of approximately IG'.t.ouo.Otio, trOM which It is apparent the decrease mil al least eoual that of November, and that the aurplus i opper slocks m this country as of January I will show I. -s than HO.Otio.ooti poumla. the smallest in the history of the Copper Produc- m I earning of about $t;20.ntio. or over er' AOClattan. Aihl to this volume the foreign aurpliiM copper of January I, ami we have a total of available sup pllea of approximately M8j88M89 poumla, which comparea with 3S.".!7.". IJ'.U pounds the same date two .soars $1.' er share. The same production and costs would Insure share earnings of our $17 on the present price ol cop- pel The Ahmcck mill contains four outlay of IMt.OM. The shares of Ahtneek I lilletU Inv estment. In which the feature of ape. illation quite inviting Hayden, Stone & i THE COPPEH SITUATION. World's Surplus Supplies are Low. Prospects Are Bright. The year ISll vvill go on record as the moat active in the foreign con sumption of copper since tile i rt -ptlo.l of the industry, while If present in ill ations count for anything the pres ent vear wiH show even gfegtW activi ty. The surplus ful'VlgU copper stocks as of Jan. 1. 1H1 1, amounted to 17 7".". -mi pounds, which b Jan I of this ear had been reduced to ISMM ' pounds, a shinkage of 59.017.280 poin ds, or about .Votio.oon l uin per month. All riH-ords of exxrts Stare broken, the figures being 7,"3.773.440 pounds. Add to these figures the deereaso In -applies of .V.i. 0 7. M0 pounds, and w e have a total consumption of lll,T8t,7fti po'inds, iipial to abottl I7,7S3,UM m units per month. This is hut little short of the entire production npori- $tiuo '. making a total of $2,SOO,000 inlli il to the earnlugB aa a result of the tOSB4 al.itne in metal prlCUS inain iiiIiimI t hroiighoiit the vear. This la at the rate of m arlv $2 per share per an- ed by the mines of this country in."""' "'' ;1 " elaln.eil Unit am WffT, w hen there was witnessed a per- i deitda can be earned on l.'-cent copper, iod of distrust as to how the new pro I" is fi'r " "" that the company dlietion would be car. d lor. The Ih-!' n,,w " '' H "out $C orrnbar exports, publlatied this week. ',,r shan M'r "'"' of tS,t4S,S0 povttOSl were with one cv eption the largest n fcoortL B) It must be remembered that these llgures cover -onlv the elenramis from Athintic ports, and d not include those from Southern and I'acilie pOttM, which when reixuted are at to result in the SatatMsMnsj of liigb mark. The fortnightly statistics as of lct . 31. 1911, showed an increase in the available foreign supplh s of 1 StiJM vaiee ill the dividend rate, but it la more than likely that thecitriilngs a hov e the div idends w ill be tiaed for a i oiisah raldc period to build up a treaa ury sin i'Ii and. It la likely also that, nunc than likelv that the earnings will be charged with a larger propor tion of the coat of stripping which has subjected the inanageiuciil lo a great deal of criticism hi cause ot the policy ol It in the balance shut as a deinicl barge to earnings. except for the share allotied the v..ir's production. The Magma mill has been eiitirelv . vcrh iulnl ami units of the Arthur mill have been remodelled so that tin coiiiMiny ia now in a position to make the very lowest possible coats. The operation of the company's own rail way will also facilitate the manage ment In maintaining a low-cost and prevent Interrupt ions that occurred when the company was using other tracks. The outlook for I'tah, there fore, is for new high records thia year in the total production and the earn ings and a new low record for costs, as well aa the elimination of some of the features of the conipanv s Bookkeeping which have been criticised. Shannon. The production of the Shannon dur ing the calendar vear 1!1 was about l ."..nun. una lbs. of copper and the cur rent production Is at the same rate. Tin management has recently com menced using some of the ore from below the old ore tunnel level and this may bring the production up to some what higher llgures. There was noth ing to lie gained by forcing the pro duction ut the Shannon during the pe riod, whin metal prices were around 1J cents per pound, for the stockholders will be far better off by con-ervinu their assets until such time aa they in In disposed of at I fair price. Now that copper is selling for well over 14 Utah Copper. cents the situation is changed and The production .f the Utah Copper I t i very likely that production may ia now on a baais of about 1 lo.ooo.ooo 1 1, gradually increased, pounds of copper per annum end it Is The ore from the lower lev el Is rlcher btttovad that the accounts for the year than above and for that reason there M.i snow a cost of lets titan cents ) should be an increase in the noiinils o opper per ton which would tend to reduce costs. Taking Shannon's cist at last ear's figure of 114 cents and with copper al 14 cents, there is a HwtN " I M tlx : Braaisd earnings ol I profit of ju, cents per p uind. which on the Nevada onsoi ida t i d to he taken a production of 15,000.000 pounds Is into account, vvhi-h would add another equal to $1.23 per share. The best f The Best Burglar Insurance 1 I Policy Ever Written j .stamps, three of which are operating I ago. The World' surplus copiK-r sup lull time and the fourth half time. It I piles are lower than at any time since i av be so. id the pi ant is l.ein-,' supplied the formin of the Copper Iroducers' to seven-eighths of its e.ipucity. When I Association, being leas than fifty days' working to the fullest advantage, this i requirements at the current rate of company may safely be expected to J consumption. , i... i k. t its copper a: a t ost well under i if no little interest as bearing upon eight cints per pound, and this should consumption was the announcement be in evidence a year heme, or when this week that the Postal Telegraph Hie new fhafts are provided with per- company would extend heavy copper in. mi nt power plants. which when j lines, whereby Independent telephone uiipli ted vvill pro!'ahl. ripies-eiil an companies would be ablu to connect aim et ss-i ountry trunk s.vstem. and ilTnrd an ex-ialso the statement from New Haven addition to that the New York. New Haven At is Harifoid would soon start work on ex . , lending its electrilication from Stain (Ofd to New Haven - Hay deli, BtOM & I 1 j Brokers' Gossip j per pi uml. The recent advance in the I'll' i i I tin luteal has therefore added i tlM rate of about $1'.:'00.000 ikt an num to the earnings of the company. There has In i n some talk of an nd- ATENTS Produci Fortunes H1ZKS .' . pilenta. Book on Patents. "Hints y inventors." "Inventiona Needed. "V.'l-y Some Inventors fail." All set t F'ri Scial llaUof msbmIs buy to our own c ients. Send rough sketch or lei for sirih of Patent Office its-onla. al i i- v " l ilies anil Towns. '. lurnu-rly Actinif Commia- f Pat i.ta aid as nuch nsd fc'l e.ianre of . ' 1 lUHICI.KY Mi im IRE, utout -iiioiu. , v iisiiiiigt.tn, I), i; opinion regarding the metal market la thai copper will average well over 14 ants for the vear and on that bads the outlook for Shannon ia better than it haa ever been. The company retired the last of the old 7 per cent bonds last vear and with the treasury in easy condition Shannon should be on u divi dend basis before the end of the year ll xpci tatiou regarding the metal market are realized. HAVE GREAT POSSIBILITIES. Copper Lands East of the C. & H. Are Being Developed. TbingM are happening right along to emphasize the great possibilities of lands, east of the Calumet & Heeln and other properties. First there v. ere tl.i values In the New Battle, Is :i checking account with a hank aves carrying a lot of money around with you and yet you htvt it any minute you want it. If all persons carried check ing account! and wore a check hook in their inside pockets, the hold-Up men would go out of business. The First National Bank 1 OF CALUMET Paine, Webber & Comp'y BANKERS AND BROKERS MEMBERS Boston Stock Exchange New York Stock Exchange New York Cotton Exchange Chicago Board of Trade BOND DEPARTMENT W. L. Stannard, Manager Calumet Office . i The Calumet News Ads Get the Business und excellent cores from the Oneco at I poration's hooka Increased nearly :'3 one en. I. and then the values disclosed per cent. There Isn't anything wrong at the north end. in the Kt. Louis with the market except that prospect ant la that property the show ing Is ive buyers fear Washington. We not e ore than encouraging Now comes ice a constant daily increase in liupiii -a second pood 00 from bole No 10 in ie und interest in the market and it I!..- M a v Mower, ill-li' .MM'- a lode 40 ; seems Uilticuil 10 see any iruauu feet wide with copper well distributed. At the New Haltlc the development is by shaft, and the same Is true of One co, and within sixty days there may In Important disclosures at the One Co, us well as the old Colony, while new thlnn and perhaps even better thing-., may he blYiught to light In the New Haltlc Mayllower an 1 St. Iuis. And uiining men on the Lake are watching resuMa all along the line. The Wolverine's deep crosscut ccpt political happenings to prevent thia Interest becoming a general and active participation In a hull market. Local activity was confirmed largely to cheap stocKs. -I. J. Sturgls. BOSTON 8TOCK8. (From Pains, Wsbbsr & Co., and Gsy & Sturgis.) Amalgamated 68 Is, Ad vent tire ill heeded for the amygdalitis that are I Allouez oiiliincr Ihiil ,ninrter so 111 I ere-1 ilia. It Alcoinah ' certainly looks as If some of the prop erties r.re finding where the copper la. Arcadian 14 nutte &. Balk. i Coalition fetfc COP pOf Range Cnhimnt & Arizona 6J and in commercial quality, Franklin. The Franklin Is about ready tu . Into operation, under the new order , Calumet & Hecla of things, with tow and enlarged j 'entennial ISax Mtttipment at the mine, and the re-Ohino - modelled and Improved mill -the equal lal.v West L . . ... tm .,... i.iiu of anv lor the e. oiioinleal ha ml I lllg ' t i niuie - n 66 H 7 :- 4 23 of rock, and to secure a full average recovery of MM copper in the rock. The ne.v machinery will be run this week ti admit of any adjustment necessary, and be In readiness for full duly on the commencement of operations a week to ten dapn from now. They are said to be very good tilings, in a copper way, to draw upon when the mine again becomes active. The openings for -everal levels, disCtOM runs of hMlly mineralised ground, carrying considerable mass and barrel copper, e ha ra 1 'eristics of the guod in the Pe wablc ii de. With the new equipment at the mine and the improved mill, to treat the ro. k and Obtain a ""full aver aae recovery, some good things are being predicted lor the new frank lin. Ahmosk. The Ahmoek is now writing h t,,ry the prelude to what MP) be ex pected, of course this mine vvill ex pend large sums in equipment and bet terments, including, doubtless, an ad dition lo the mill, but regardless of the e outlays. If copper remains around 14 or 1" cents per pound. UM dividend payments will be big; of the kind to Kive hmcek shares a price not fr earned of by those who do not know the property. Mote, too, the cost of mining an.l handling a ton of rock Is bctnn OUt down and as Ifll will show hcttor than 110, s will till be even more favorable than the year Just elosi d. Native Copper Times. L MARKETS Franklin 11 (Jlroux 4V4 tlranby 37 i Irei lie 'ananea S-, Hancock 1 30V4 Hedley (iold 154 Indiana v.. 14 Inspiration 17 Isle Rojale -lVi Kerr I-ake 9 Keweenaw 1 14 Lake 36 Im Salle 5- Live t)uk 4 Mass 8V4 Miami L'.') MichiKan Mohuwk 57ax M a. v Mower 7 North Lake 9 Nevada Consolidated .... 1944 North Itutte Wtk Ml pissing 64 Old Dominion 47 oaccola 107 OJibway V4 Old Colony 54 Parrot 14 4 Quincy 76 lUiy Consolidated tH Superior & Boston 4V4 Superior '2H Shannon 104 Shattuck 1hx Tamarack 30 U. 8. Mining 35 i Utah Copper 57 V4 I'tah Consolidaled 16 Victoria 44 Winona 6 Wolverine lMax Wyandot 2V4 Zinc 25 62', M 6 I HI II 38 SVt 31 1T' 14 Ill's tin M i 37 5 42 9 2.-, 3 7 V, 6 2D 28 47 108 5 14 77 18 4 2! 10 31 M 4 6 M J. A. MINNEAR 5t CO. BROKERS MARKETS AT A GLANCE NEW YORK LIST CLOSED STRONGER. STEEL REPORT BETTER THAN EXPECTED. COPPER SHARES FIRM. LOCAL LIST ACTIVE AND UNCHANGED. Salt Lake, Cobalt and Tonopah Stocks Quoced Constantly Calumet, Mich. Laurium Mich. Direct Copper Wire Con necting All Our Offices With Boston and New York Giving Our Customers the Bene fit of Instantaneous Service GAY & STURGIS BANKERS AND BROKERS MEMBERS BOSTON STOCK EXCHANGE 101 Mtlk Stret Boston, Mass. CalamBt Brunch 108 Fifth Stroot Phones: North 813-814 Rojr A. Young, Manager Huston -Tin liquidation which caus ed the rea' lion yi terdav wan not con tinued total ai d th trading MM nar row with small rallies during the ear ls part of the s, ssion loiter In the day the demand Increased and the close showed the a hole list ii about a point. We looU or Increased activity and higher iirlceo tomorrow. roster to Paine, Webber & Co. Mostoii- !) alines were professional today and prices rallied under short covering:-. It was evident that the break yesterday .vus a drive and it Brought about no selling r any con aequenee thin morning. The current to ws outside of railway earnings was good. Unfilled orders on the Kleel COT- .Ian. t, 4, . 8. 1. 11. I'-'nnd 13, 1H12. The unnual meeting of the- stoek li.ddeiH of th. i . ntennlal Heights Wa ter company will bo held at Wlck strom & Company's hall. Centennial Heights, on Saturday, Jan. 1.1th, at 7:30 p. m. for the purpose of electing director for the ensuing vear and for the transai lion of any other 1m-i- neHB that may lawfully come before such meeting. A I). Nicholas, Sec'y. NOTICE. The annual meeting f the stock holders of the KlortdP Water Company, for the election of directors and the 1 1 ansa t ion of other business, will be held Januarv 13th. lilt, at I o'clock I. M. In the rinnlsh Hall. Florida Lo cation. Houghton County. Michigan. Signed. Arthur Itnowles. eod 13 Secretary. NEW YORK 8TOCK3. (From Qay & Sturgis and. Pains, Wsbbsr & Co.) A ma I f,:V4 Anaconda Locomotive Smelters Sugar : tdilson R. ft O It. R T Can. lac C. A O C. ft N. W C. F. A I Rrie Ot. North Pfd Cons. as L. A N 3.r. M 7H 232,' i 73 141 26 30 'j Co!' . Amer Phone 139 M. K. ft T 2V Mo. Pacific 3ft North Pacific nr,i N. Y. Central 106"; Pennsylvania 123 Reading 14H'fc Rock Island M St. Paul 10R,4 South Railway H M t'nion Puclflc 165 South Pact So 10ft7s Steel Com ft Steel prd I10T4 i st i'nion 80V4 6 3 :;r, TIM 11S lor.u, 103 7814 332', 7:i' 1411 27K 1J7 I4HI IM 13 28 4 31 1164 107 123 i M M 1011 1R8V4 110 7 111 81 erics. TDi- Mteel report, ailolll twice is Kood a expected, coupled w ith the good producers' statement yesterday, steadied the market considerably. Cop per shins were Inclined to be a trie uneasy at the opening, due prohahh to the low metal quotations which were sent over from Iymdon. This was due to si mi nil trading in the metal it self. Coppers were Arm, however, at the ( lose. Some fair haying was noted in North Butte and Amalgamated. The local list was active, with the Issues which predominated earlier In the wrek in most demand, but with few important price hanin s. Hancock, Midway and Arizona I'oiumerclul sold iissi ssment paid today. r (J. A. Mmnisr A Co.) Hlrt A'dxed CURB STOCKS. .1 A. Minnear ft Co. say tmlRy: After an opening which reilocted the heavy selling of the close yesterday, prices steadied considerably and final quotations showed substantial recov- .;..;..j..j..t.;;v.;;!S4!t"M-!-!"!' THE NEW YEAR 8TART8 NEW SERIES. A : NORTHERN MICHIGAN ! FlU)f. A LOAN A8S'N. A FAUCETT BROS. A QUCK, A8'8T SEC'Y 8. CLASSIFIED ADS 1 Algomah f Ahmoek 240 I BtrttA Italk 4 Hohemia 3 Chemung 5 I'hlef Cons 01 t'olumlius Cons 23 lortex t iChlno 26 i 'a linnet 1'orbin Upfl Calumet 8 Montana 30 Corhln Copper " Cactus 18 Davis Daly 7fi DUtM Ariona 6 Fiist Itutte 12 Mn (lower 7 CohUichl Cons 4 Hroux 4 Creene Cananen 3' Houghton I 'opper 5 lloniesiako MM HanciK-k 30 Indiana 14 Inspiration 10 Keweenaw 1 Kerr Lake 2 Keating ;iax LP Rose 3. Iake Copper 38 I S. A 1ax Live link 41 Miami 24 New Keystone 2 New Haltlc & N'iplsslng 6 North Iake HJIbway . Oneco 3 Old Colony J K i i oiisoinlatcd 1& Ray Central 1 Shattuck 1 Santa Rosalia l&ax South Het-la 10 Siuerlor A Globe max Superior ft Hoston 4 So. Miami 2 South Lake 5 Tuolumne 3 Tonopah ft Mil 50 4 3 7 .67 1 26' 3 .20 .80 6 l 7 4 4 8 6 31 14- 10 1 3 4 37 42', 25 2 r. 6 3 IH l.S', 1 19 ,i 4 2 6 8 n Advice and Assistance The Calumet State Rank Is ecr rgfigj to -oivise and assist us depositors in every possible way thai is i (insistent w ith busl nSgl prinlei.ee and extends every scoommoAattap of topM fcngglpf procedure. We respectfully invite your ac count and banking business. CALUMET STATE BANK CALUMET, MICH. J Preston CroWH 'har Hea Hold . . . .11 .40 1 .13 .50 2 PORCUPINE 8TOCKS. LOST Oentleinan's gold watch be tween RtfPjtagM Rt. and Pnhlic Li brary. Reward If returned It News ( 111" e. J2 Pearl Lake 35 Holllnger 13 Porcu. Hold 4 Swastika 30 Por. Central j Dome Ex 47 ,3J I .i 1 wo lenturls before Christ flros .23 had been lighted on a tower near Alex- I 3 nndrln. Mgypt, n, n warning to mi- I .60 riners. A I MORE POWER FOR SENATE. Washington, ,iHn. lo An amendment to the ICHoluttoii 9t ratillcatloti of I ho arbitration treaties with Qraa! Mtpla ai.d I rani B, designed to leave the Sen ate in control of all special agreements as to what questtOttti are coiisiderod lusMflable, was ronitAare4 by the for eign rslatlom contmtttea today, but action :is deleried The matter proh ably will not lie taken up until next week. BANK ROBBER 18 ARRESTED. Chicago, Jan. 10. I'rnnk Hoilowav. aged who is also known different names, made a statement to the po lice in v. hh h lie confessed thai he was concerned In two bank rohherles, one at Panama and one nt New Westmin ster. H. C, in which ftr.o.000 wns stol en. IL- said he was wanted for two murAgfl and for many rohherles In 1 iklahoma. UNIFORM FRATERNAL LAWS. St I.ouIb, Mo., Jan. 10. -L'nlform laws for the regulation of fraternal In rurance he dim tinned by the fed erated fraternities which begun the third federated congress here. The fed eration Ih fighting what Is known as tha Middle hill which It la belleed would he the destroyer of fraternal liiHiiraiK e ilk I MtlttilfV. pniuwiv mm