THE INEVITABLE RE L T Several Mines Closed by the collapse 5 Col-lapse of Silver WILL WAIT FOR A RISE Operations Will Practically Bo Suspended Sus-pended 011 the BullionBeck Tho Daily West the Diamond and Two Bingbam Mines Shut Down Xo Decision Yet Concerning the Ontario and Daly The inevitable effect of the tremendous decline in silver is already being felt in Utah A number of mine owners awaited yesterdays quotation to learn whether there wasa prospect of a recovery in the market but when the quotation 73 nominal was received it settled the fate of several properties at least for the present One of the first operators to take action was J J Daly of the DalyWestat Park City Mr Daly started for the Park yesterday terday afternoon and will close the mine today About fifty men will be thrown out of employment I am going to close down because I have no ore contract said Mr Daly to a HERALD reporter c and I cannot dispose dis-pose of the ore to advantage under the present conditions of the market I cannot can-not say how long the mine will be closed i I believe it will only be a question of I time when this thing will right itself THE BULLIONBECK At the office of the BullionBeck was stated that Manager Hyde had gone to Eureka for the purpose of closing down the mine At an informal meeting of the directors held Monday afternoon this course was decided upon in case the market mar-ket did not take a more favorable turn yesterdays quotation of 73 was regarded re-garded as decisive It was stated that the mine was running at a loss with silver at SO and operations could certainly not be Continued on a 73 basis Manager Hyde returned last evening and stated that the mine had not yet been closed down but would be practically within a few days At present 175 men I were being worked Ho could not say exactly how many would be kept at work THE DIAMOND CLOSED Mr Mackintosh yesterday sent instructions in-structions by wire to Superintendent Reed to close down the Diamond mine at Eureka Nov on the 30th This mine has been a great producer the output being be-ing forty to seventy tons per day and from 200 to 250 men have been employed Mr Mackintosh stated that the mine would be closed down but work would be continued on the big hoist that is being be-ing erected about 150 men would be withdrawn The mine was dry one and would be closed down until the silver question was settled Mr Mackintosh believed that silver would soon recover and thought the best thing to do was to wait for a better price The property is owned by Mr Mackintosh and R C Chambers BINGHAM PROPERTIES CLOSED The lessees of the Spanish mine at Bingham closed down the property Monday Mon-day nlcht and Messrs BemIs Klopen stein and Garland lessees of the 1889 have decided to follow suit about forty men were employed on the properties 1 There is not a mine in Bingham that can be worked to a profit now except the Stewart and that is a gold proposition said an operator from that camp yesterday yester-day THE ONTARIO AND DALY Among the many rumors on the street yestsrday was one to the effect that the Ontario and Daly mines Park Citys great producers would be closed at once This was positively denied by Mr Chambers last evening as no such decision de-cision has yet been reached c Another week will decide what action will be taken said he We will not continue our working force at a loss as we can hang up our mills at very little expense at any time If the drain tunnel were completed we would close down now as that would drain the mine and it would not be necessary to keep the pumps going HI believe silver will recover 11 continued con-tinued Mr Chambers I think this is only a monetary and silver panic and that the country cannot afford to allow it to continue long I A CHEERFUL ASSURANCE We are going to double our dividends when we get our new compressor in was the cheerful assurance of James F Woodman of the CentennialEureka The product of the mine is half gold