Copper Market Stagnation Weighs On Mining Shares
The mining market shows little spark as copper prices hold steady and traders, bulls and bears alike, drift without clear direction at the old Gaajt.
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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 30, 1906
Page
20
The mining market shows little spark as copper prices hold steady and traders, bulls and bears alike, drift without clear direction at the old Gaajt.
The article details shifting plans for the American Consolidated Copper company led by Coram and Heinze, with Davis Daly Estates Copper and Isle Royale developments. It notes stock movements, potential mergers, and exploration efforts across Butte and Isle Royale, plus plans for flotation and new shafts to boost production.
The Red Metal company plans to sink the Cora mine shaft to 2,900 feet within weeks, surpassing previous limits. The current depth is 1,700 feet, with a new 3,000 foot-capable engine sourced from Granite-Bimetallic stock. The move aims to secure a steady ore output with 400 feet of additional stoping ground and may extend to 2,200 feet if warranted.
Charles K. Morris from Pony reports the Strawberry mill will soon be latched to process ore from Cliff mine and Morris Elling estates. Preparations are underway with work on Clipper and Ross Tweed properties on Mineral Hill, while Charles Weidman plans a five-stamp mill for the Oregon mine and Garnet property runs at full blast and ships regularly. The Pony district appears more active in mining than lately.
The Boston and Montana company ordered two air compressors supporting 50 or 60 drills each. One compressor will be placed on the Leonard mine and the other on another good mine owned by the company. Nordberg Machinery of Milwaukee supplied the new hoisting engines for the Leonard and North Butte and secured the contract.
Special Dispatch reports Johnston-Moffet copper mining bonds executed for Bear gulch properties. A force will explore the properties to gauge ore extent and value. Mining Engineer H C Wilmot, Alexander Johnston and John McBarron returned to Butte with ore samples from the Moffet and Johnston tunnels testing different mountain sides.
Arrangements for annual teachers vacation rates from Butte and Anaconda are complete. Tickets go on sale May 29 June 2 3 9 and 11 with 10 day transit stop overs and a final return deadline of Sept 15. Rates to St Paul Duluth Omaha Kansas City and intermediate points are 42 dollars round trip. to Chicago St Louis and intermediates the cost is one regular first class fare plus 9.50. For full details contact the Northern Pacific office in Butte via W H Merriman D F P A.
Short Line to sell Portland and return tickets for 80 dollars with 90 day limit and stopovers. Route travels Idaho agricultural districts and the Columbia River. Reserve berths at Short Line city ticket office 105 North Main street Butte Montana. H. C. Wilson, D. F. & P. A.
The Butte office of the Owsley Block firm announces stock will be sold at 1.50 per share until further notice. The notice includes contact details for full information and references the Oregon Short Line and sale date June 5. Secretary C. H. Smith signs the notice.
Removal notice notes new location in Silver Bow block at 16 West Granite and Slemons Booth's office UU P Rock Springs Diamond Rocky Fork Bridger with telephone 505. Also announces Wednesday night social at Elite Hall 317 Dakota Street.
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