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Show WESTERN MINERAL SURVEY AND UTAH STATESMAN. to hold their markets in the face of competition from outside the United States. A product superior or equal to the foreign ware was necessary, and the coat of production had to be such that a competitive advantage would prevail AND UTAH STATESMAN Suitable raw materials at low coat were essential. Ordinary of flint, spar, and clay; but the TeL Uaa. B5S manufacture involved use 201 Alias Work and cherpical variations were such as to complicate liMuraiirftinl under ljm of Ulflh, physical mailer at Malt Lake City. tlab. under processing and result in a product of uncertain quality and teimd a around-cla- a Act nf Man-l- i S. 1B7B. 1.60 foreign i 20a 1 a year la C. S.; strength. Mr. Curtis concentrated research on an exact Hubacrlpiloa Kates nonthik standardization of a body material that could be depended Pteua Mention Wcaten Mineral Barvey when writing to adrartlaert. upon to give consistent results. He succeeded. The new Advertising rata oa a ppi lea lion. material is used in the manufacture of table ware and HAROLD BOWMAN, Editor. tile, in connection with which the problem of E. K. PENDER, Business and Circulation Manager. wnrpage has been overcome. isewa Elands wbere Western Mineral Survey is on sale. The Vitrefrax Corporation is using, for the manufacA Main OHIO Oor. Market ture of its products, about 27 minerals, most Akron. MASS. sat Treuiufilou Stw w. mbiIImmi; ftOkro.V, For this rea which of n. must meet ciark npecifications. exacting ita CHICAGO, LLL. 17 w. Coucrewi m. Ron extensive prospecting and careful examination of 71 W. Van Uuren i bli as Mi. HaiMiniiiii si.: GIOHE. AKli UtclirU'UI, Confectionary New Stand. available materials are necessary. As an example, trachyte CltAM JUNCTION. UOUL Uektvrn AMules Market Wa. INDIANA 101. IS. 1NU. Cor. IllinuU is a not uncommon type of igneous rock, but plastic 4 S. Pine Ate. LONG liKACU. CALIF. Awtidehlalkn. Fw Nrwa CALI Agency. Central trachyte is rare, and a trachyte having the plasticity and "I.OS ASt.KLKS. unl. Ilk - SUi St. World the other chemical and physical characteristic! needed is CALIF. Weatcrn 'UMNUkliS. Tew Kund Areode Bin.; Atlae News siand. Nallc Ikok Shop. 04 W still rarer. The deposit found is therefore of importance. St.; W. Martcndale (Hues Mamltli 1st St.; George Rabollie, 2. W Srd Kt.i War News Bland. The work of Mr. Curtis and the Vitrefrax Corporation M1NKAIOLlK. MIN.V 2114 Settind A to. Ho. CAN. Poet Office Neal Sland; John O Conner Trail illustrates a successful method of exploiting MOM 'oWl minerals. The producer of mineral products needs the rfEwToKK CITY. S. X42nd St A Bill Arad 47lh 41212 Ate. St. 22ud Nla.i Central war: 41nd W. Soulh Grand operation of the research engineer, whose investigations OAKLAND. CALIF. 14(h KL A San Pablo Aral I2lli A Broadway 'are of essential value to the manufacturer who extends the into A Broadway; 7lli A Washington. resources of his organization into the mining field. MinO ATMAN, AKUL Oalman Drug Co. OMAI1A. XKU. 101 No. IStb St. A ing Journal. PHILADELPHIA. PA. lib A Market Bln.: 22 So. I2.n si.. Iib SALT LAKE CITY UTAH, OCTOBER Central Idaho Gold Belt Holds ii. Interest of Larger Companies SPOKANE. Wash. Investiga tion of the central Idaho gold belt, particularly those parts of It about Elk City and Orogranda, la being mad By tbs representative of Sevan group and thraa of them have acquired options, eocordlng to -- of Secondary Shipments Drops 43 Per Cent Value The value of certain nonferroue metal recovered from secondary source in 1111 la reported to tho United Slates bureau of mines, de0, partment of commerce, aa which la aaa.aao.aoo or. 4 per cent lean than In 100. and tha total quantity decreased 21 per cent. This decrease In value, was partly due to the much lower yearly average prices of copper, lead, line, tin and antimony. The mein decrease li quantity of was metala treated in In copper and braaa. which de37 value clined per cent, while the 0 per cent. decreased nearly The shipments nf scrap copper to Europe were double those In 110, while the shipments of scrap brass declined. The smelters that non-metall- ic fllO.-74,10- T I- Market 2ia RENO. NEV. Rent, New Agency. Golden KAN FRANCISCO, CALIF. 2 Third SC; 4 lb A Market ' Gate New! Co.; 10 Third Sc iml.i at Sib 1522 Westlake Aviv; 2nd at Cnion. SEATTLE. WASH. Second at Cherry. I2tli A Paelfle Ate. TACOMA. WASH. TOLEDO, OHIO. m. Clair News Co. NEV. Folln Brother. TONOPAH. All the News at lha Daclopn.cnt of H "" Pn li hi a PnMIahod he the Western Mlocrnl 7. 1932. OCTOBER 5ALT LAKE CITY, A STEP TOWARDS PROSPERITY prosperity. He pointed out that one of the major causes of world depression has been the appreciation of gold in countries, and the depreciation of silver in countries. The drop of silver from 60 to 30 cents an ounce has reduced by half the wealth and purchasing power of millions of people. Silver has long been the poor man's gold and in what Mr. Hammond calls the "backward countries, silver alone is accepted as a medium of In 1010, nnd th yield Dr ton was tha eame. About I per cent Production of Portland cement exchange. at detlnnlng In of tho recoveries barrels 121,4!, 071 11a decrease There is not gold enough to keep the commerce of the plant wa aa tin content In tin nhowed of 33 per rent tin and other tetrachloride, oxide, from 1130 or nearly 2 per cent world in motion. In addition, the supply of gold from the rhemlcal compared from 111, th highest year of procompounds, Rand, which has supplied half the worlds needs for three with 00 per rent In 110. Prices duct tho lowest recordIon; and to treat prof- ed lines 123. according to the budecades, is expected to decline materially. No potentially of tin ware oldtoo tinlowcoated containitably any reau of mine. important gold fields are known to exist. A practical so- ers The large decreases tn the Shipments of Portland cement lution is rehabilitation of silver so that it may take its old quantity of secondary tin was In front 1131 mills to that contained tn alloy such as lf7.IS0.l4S inbarmla. amounted valued at place in the machinery of finance and commerce. older, babbitt and hronxe. $140, 71.450, a decrease of 10 per gold-standa- rd silver-standn- rd SILVER AND TRADE senator Jonathan Bourne. Jr., former United Jutes y po from Oregon, in a recent letter clearly and and out the relation of silver to world trade and its effect H in individual. influences upon the lltho-pon- All Aa tha trend In the prices or primary metals was steadily downward and inoet metal had ihclr lowest prices at the end of 1911. the prices for scrap metala, alloys and residue derllned an that dealers and secondary emeltera had little opportunity tn sell material at a profit, and the gathering of secondary metala at their source waa Many greatly retarded. foundries were Idle or operated on a much reduced scale, and their of scrap metala and purchase composition Ingots were spasmodic and In email lot. World zinc output in August set a new low for several years. The month total was 65,756 tons, a decrease of 3,193 tons from the preceding month. The daily rate of output in August was 2,121 tons while in July it was 2,224 tons. For the eight months of the current year the output came to 591,644 tons whereas in the same period last year, the total was 799,690 tons, a decrease of 208,046 tons, equivalent to a reduction of about 26 per cent. The Unjted States alone curtailed its output by 1,367 tons in August in comparison with the July total, while the curtailment in the rent of the world amounted to 1,826 tons. Surplus stocks of zinc throughout the world at the end of August amounted to 308,128 tons, a decrease of T,693 tons from the July total. Of the worlds total IS.203 tons were in the hands of producers in the United States, and the remaining 178,925 tons were in the hands of the European cartel. The domestic stocks decreased 4.704 tons at the end of August and the Cartel stocks showed a reduction of 2,989 tons. those countries. 5. A further continuation of this asinine and unnatural condition of the gold standard and silver standard countries each having different yardsticks and both fluctuating in their interchangeability for other commodities can only result in the lowering in the United States of our high standard of living and our relative high labor wage to the low standard of living and low wage scale of our competitors the silver standard countries. MIDWEST Premier Gold Acquires Mine According to Vancouver advices. Premier Gold Mining company has acquired, under bond, a property near Juneau, Alaska, and I undertaking exploratory development there. Th ground Is said to have stood up well under preliminary examination and a working bond was taken on the claims. The purchase price la not known. Rumors have been current In Vancouver for several days that a new strike of high grade milling or haa been made on the sixth level at the original Tremler mine. OOiSSOLTH); UTAH OWNERSHIP CHARGED ic These estimates, which Indicated a production of 114,514.000 barrels and shipments of about 1 11.415.000 barrels, were within 0.7 per cent and 0.1 per cent, respectively, of tha flgurea for 1011 hero present-e- d Portland cenmnt manufacturing capacity of tha United States by commercial district. 1130 and 1111: Pet. of Estimated capacity capacity utilised District. Eastern Pa., K. J.. and New Tork and Maine Ohio, western Pa., and W. Va . Michigan 111.. j Fla., and La. Eastern Mo., la.. Minn., and S. D. aaso-clatlo- n. j Okla. Gold secretary-treasure- r. eet-u- p. high-grad- onc-ha- lf I -- gen-rnd- "hrt 111(1 Irt,, hMJ ." Total fr 1 hOp-linart'i- MOJAVE, Cel. With the com- ing of the Grey Eagle and Elephant properties four miles southwest of Mojave. Into practical mining and milling activities, the attention of large Interest will lie attracted to at one time the second largvM gold mining districts of the county nf Kern. Under the Joint control of a Los Angeles syndicate of business and professional men. the new management ia planning extensive development and operation. At the prtnctrml ore present time th breaking la going on at tho Grey Eagle mine and the milling activities at th Elephant property. The Ktaplft mill te on this property and Is being pushed to It normal whl1 enlargement In the mjturlng ment of ball mill grinding, and tankage. Th sarlirr announced plan of discontinuing all lessees operations has been modified and leasees operation will he licensed on the Iniereec-s'lh-jtio- i j crryw'f"? Pll-gri- m nc-llff- - "" c. rot KattSS .S rf-dl.S- - v - i i -Vir re ut prln-!'- n i J ii- -- i I i - at 100.000. against 6,045,121 the beginning of tho year. Quebec Properties In Big Demand Increased activity is reported in mining field of northern Quebec. During th past two months five important deala have been consummated within 20 mile of Rouyn. have optioned Koranda Mine two groups In Bouaquet Township, M. J. O'Brien Limited have optioned three group In the earn district. while last week Prospector' Airways took over the McWattcra group in the Rouyn Township. Mining engineers representing Dome Mine, Nlplsaing. a, Holllnger. McIntyre, Connell Mining and Exploration Company and other concern! ere active In the vicinity of Rouyn aeeklng new propertlee. tha Teck-Hughe- U. S. Lead $tocks Big Placer Work ' ' 1 Engineer Takes Kern District Over Ground For Being Revived I .'JJ"1' 63 Installation of new hoisting equipment he Just been completed at th property of th Gold Chain Mining company, situated In tho Mammoth section of th Tlntla mining region. Th property la being operated under the direction of tbs Mam-moMining company and between the two properties frem 16 end carloade of or marSEATTLE. Wash. En rout to keted each week. Th ire eompauy rich employs a crew of 13 men. Alaska to taka over the Watson group of placer clalm:on the Seward Peninsula which he recently purchased In Chicago. Reran P. M. de Frledlandar, min-In- g engineer and geologist, sailed for Nome recently on th Victoria.: dilvrr. per oi .... .77 of The baron spent tha summer Copper, per pound 6.031 . Lead, 1.126 1931 Investigating per pound placer gold .. 1.113 Zinc, per do-' pound to view with a deposits greater velopments of tho peninsula area YORK. Oct. 6. Bar ilNEW end the taking over of the Wat- -' vtr eeeler; ) rer at 37. son claims comprising about 3000 LONDON, Oct. 6. Bar silver acres and extending several mile lower at 17 easy; along the seashore at Nome Is a Oct. 6. Copper of of a LONDON. the placer result study standard spot, 33, 16; future ground at that time. It. 17i. 6d. Slectrolytlc Spot, IT, is; future huho' ,111,1 ill Gold Chain InstalU New Howl Equipment Colo.. Utah, Wyo. California Oregon and Washington Mining suggested appropriate electric-furnac- e technique. Il,c Luntinentai 8. V. Hunt, nnd Thl action ha been planned hy tiling mn. Standard of Indiana for economy njcci specialized demand was met. and a business established. WiUlHin MNSF.T J. Korw was named viceIs reanonn which the time make Research along other lines was also undertaken, prinE. Lslser preening and aa pin of n general Charles Smith, of Preecotl. opHarry president. The Continent- proem in of eimplifir;Kin ani ,u erator Of the Sunset mint in cipally in the development of a ceramic body suitable for ciiapnral si.tiHrd of In- Creek district, is taking white wares. The objectives, established virgin, practically is prospect, al careful a .wn e silver and gold oi's by P" fni of the out 17 MidwtHt near Tnplllf. atork claims of with five nni hn the industry, included the production of a strongstudy aid to assay 400 to 00 ounces silMercur. Ltah. Ho oprrnfion for ninny controlled ver of southeast miles ounce gold. A and er product, a saving in weight, and a reduction in the proynre, Tliiwr mh In IMmi Mr. Hum. now well known as I tn be made during the shipment Tints Tnc can to the rtockholdtin wj next few weeks, portion of rejert finished ware. A synthetic body wa the doveluprr of tho Rio I move to carry property at Mountain City. cvojved that met the primary objectives. Next, a search copper bi'Wina the In out InlrrvslOd Jtev., known western companies among was made to find a natural material containing the clay, Continental claim, formerly cntlnl which ate Kelt Creek Producer the of bocauso Wall1 group, Midwest's the fltd"divl'lon proprtlee!kn Mountain rrodurer. to feldspar, and quartz elements in approximately correct pro- similarity or tha surface outcrop Ktanolind Oil A Oa Co. will Including producing and portions and in a physical statu that would insure a stan- the gold hearing porphyry of ln oped Icasclinld on oil land in ri" (maintain & district land and Wyoming Placer dardized commercial product at a cn-- t permitting ship-- " Mercur district. Wyoming. Mon'an. k, ml!,,1 logic I department office in In- Makes $300 a Day Development an far contisis of ofa easlern market. Prolonged search resulted in l0rfooV Pipelinra. and a numbar ' over taken fr ; the finding of a plastic trachyte, with characteristics that niuiiowr surface dinging, tkmpiiiuc 8EHR1PAN, Wye. Reports of properties rnnntffM .ut siWMl1 peraonnei will he to hv hown Producing branch, to th St. no .by Btanollnd Oil A Gas Co. and rich strikes in th Bald Mountain of i ho ah ft la met requirements. ' Indlann. of Standard ilii In gold and l.VS per cent Hi0!1 U" gold region, where the greatest -,0' I,lp principal I'ractlcally no rhangn will rerush In the history of the Big1 V The new ceramic body was given the name of vitrolon, jt nckiiior. lndV.T'. ",uh,,U";ry nf Standard owner-shi- n of the from transfer Horn excep-with ; sult Mountains the h "ieflu a special unit for its The fl"' S..d company Btnnowas erected the 1. at . preparation the have of the reflncrlca lion of tha Fortunatu rueh." la Oil A u, t In now in progress, are heard nr for many year hy companys Vernon plant, including a standard vitrolon n debtnd m" f oflndlan.i on contract. south and west end of th moun- Sheridan. noo. nr financed. 1roHi .indwc;;rr.,rv7i Flint pebbles 'I,nrociit . own markrlsubtlan-Indiana's la known as of Standard One wall tain, locally ! that fairly A power ! Elephant ; pxi-il- l. I, .ranii and Ing division office In Denver and hill. The new company will occupy tinted and believed by many to be' tod from Topllff. uv..V, J lllllllJS, ;1 "'0,'k "l 0,h'r all ground on the north elops and true la that the Cody Mining Comover a vibrating ttcreen and the oversize pumped bark 10: Th. r'ti! menial ha. a ,h' polnl" "'Imr wlYfbi MmtmMn to the Echo tunnel front near pany, operating a drag line on the' 0f nVoaarnc.!!h the tube-mi- ll circuit. Three products are made 1 20, 150 Affected by thin transaction. the mill directly through on the west eide of Big Bald Mountain.1 a ,, has taken out as high aa 1300 jcuurs nf the vein to an and 200 mesh. Each pulp is pumped. pat a niHifnctk-arztor- , The stock ha been trad- - Th thl-,, , srp Wl ,?1VlM,hB,nglcn, with th Echo adit on the day. Other outfits ara taking out' into one of ihrco tanks lined with vitrolon 110 to a from $50 day aad proa Ilf property, thence onward Salt IJike stuck Eg- - SSSA'Aar1'trot of Standard of Indiana, the un,cc the bricks. From these the slurry im pumped to a filter press. .M'l'llcn at the outcron of the pector 3 ara reported to be aver-- , LilmlniM.i price ranging from s PTM. he will morr to IS a change day. aging 'contemplated l for the removal of excess water. Each batch is analyzed, v"' t i; rni. of th In nsms snd method of .J Ll(!Vj?d m' anal' ,r!,1lr"1n ' xhMuled PILGRIM and the filter cakes are then dried and stockpiled, sacked! li will fo then In ownership, A deal has been of effected th by further f'nrt'nl 2 simplification step in the three sizes ready for marketing, great care is taken TilP Indl.n. !lfw of. th twa roup.' which the management of th company of corporate structure which -- f comply lv,,inir The new company Is not a stock l"n ChloUs of nfl near bnui io acre of to insure freedom from contamination at all points in the working! mlnea Indian of been sroup te.tri In th lam few but a group of Individuals ride. Arlaona. passe, into the hand Buuiilcr:" p.mrlpai repreaen-loynr. Almuti" faTni'ii process. The product is xliipp'.-- in liux curs as far east an i v .Mountain Ro,l,y two ysara ;;co th Hlsnnllnd ,iii (ho ere placing their own money nf IV. J. Lorlng o' Searchlight. Ne... . I as. .stat " ranlur under a controlling vada. Sampling nf the mines Is to Indiana, and via Panama to Atlantic point-- . Office, Ga Co. wsa formed as the n'".!,,n Quality of ito'iiti- r rnmuv. Colorado, well u In "h also rlpal prodiu ing auiaidiery of ihitru,lp' management Is In be started immediately. Mr. Lorlng arc Miih tliat mwwf-ds- m, product and low of J. L. Harper, well represents Ben Francisco capital. ii ha alni,e;l'f hand and epni.:iny. ncr til i? iinil the1 use nf t ui i u" 'n n- fmjn rnt which ukn o' er the a.'iivitira of all in " nilna operator of the Pa- ciTumic base !i,rv hi'ing IMwrt e.i win lie ainn ihppi ,,M,I 'lf'n Northwest and Alaska. i!i n'1 ftf Midwest rr prnil: hlfflll1 H'.i.aw'ETm'S On'tha metallurgical end. Ind Frank nn!r rxre. ' IVi imi" of II Y. I Is the ii.i,a(i-iirn J. W.;v. Bowley. ryanMe l n!.neff fiirn) ni iy rxprrl nnd ' i ' Tnn : ,J I'" inf 'L'rn (ii!.""i;v i f ci "j-r.i.'cnl (' g. cl b",,IM nlih ihr Ana- - mill technician, will reach IMI'I III Hie Vu "or. her .. i.iv , f iimigc v.1,1 Hiaii.iide- - ,ruiU copper Company, nf .Mun.'ihia week from Alneke, to Join thv by an ai.aly;,is .f the failure of .linn, .i.aiiuiuuumn i!! iU' oik ui o'lmr well- - pnrimeiii m iiijh. marketing ten. Paul Kteplea remains with force. re.-ear- ch United State Smelting, Refining A Mining Co. has declared th rogulsr quarterly dividend 17of 2S 2 cents os th common snd cants on tho preferred stocks, both payable October II. ' Company reports for eight months ended August II, 1933, consolidated net profit of 11.1(3.' after Interest, depredation, depletion, amortisation, etc., equivalent, after dividend requirements on 7 per cent preferred stock to cents a share (par 50) on 148.-2- 7 average share of common took. This compare with 1,341.-1- 2, or 1 cent a share, on 154.-9common shares for eight months endad August 1. 1111. Plante to Bo lucre nod th Earnings of H.llS.lli Inmad tint olght month have been wtth the trend of metal prices Record low steadily downward. prices wars made on lead to and th alnc. Silver continued cloie record low throughout the whole period. In Iste August and early September pries of lead and sine were substantially Improved, but not the Improvement In prices reflected to any extent In th eight months' firnlni. With present or metals substantially prices from metal maintained, earnings mines and plants will b considerably increased during th remainder of the year. Also, substantially. Increased earning during tb last four month of tho year may be expected from the coal properties and th railway os the rsiult of th seasonal increased demand for coaL Net Current Ansota Bine ths beginning of th year In capth company haa Invested common ital addition, purchase of atoek and expendand preferred itures for mine development, slightly over 1,760,000. After payment of all dividends. Including th dividends payable October 11, It is tlmated that net current amts will exceed 13.400,000. At ths present time caeh end United But Gov- -ernment eecurttle amount to 10 Lead atorks In the United Btetea on Neptember L touted 312,03 hort tone compared with 211.970 on August 1 and ll.44l on September 1. 1931. tha American bureau of meut statistics reports. Ind.. and Ky Western Mo., Neb., Kan., and Ark Company Declares Its Regular on Common Stock Show Increase .. Va.. Tenn., Ala.. Ga ELK RIVER, Idaho river men have filed on 10 of placer ground In tha Deep Creek er.tlon seven mlleo south of Elk river. hown to carry The land ha much gold end test hole put down showed colors. W. A. Schell, who also ha placer ground In the district. picked up a nugget the else the other of an Inch through, day. He also ha several smsllei nuggets picked from his test hols. The group has formed an call'd the Spud creek mining association. They have made no plan ee to how the property will be worked. Kpud Creek runs through the rlalm giving plenty or water for working. ths high-grad- mill shipments Into elate; they do not include th imports (which would Inertias th consumption of certain states near the Canadian border and tho seaboard); nor do they take allowance for a variable but considerable stock of cement ft all times in transit, tn warehouse at distributing point and swatting use at Jobs. The rommerdal for capacity production of finished Portland camcnt of the 1(0 shipping plant In 1931. nnd of five plants inactive In 131 but producing within th four previous yean, according to manufacturers' reports supplemented by a few estimate, waa 371.950,000 barrel. This total Includes Increased capacity duo to at extenniona and Improvements old plant. There were no new as proentering plants reported duction In 1031. The total production for 131 was 41.1 per cent of the indicated capacity at the dose of th year; the corresponding llg-u- r for 1930 la 59.7 per cent. A summary of tho monthly estimates of output of Portland rement in 1921 compiled .from monthly reports of th producer, wee published early In January. of Mines. 1113, by the Bureau Eight Elk Ttait ........ ................ and Ida. Mont.. acres significant contribution to the utilization of mineral products has been made by the Vitrefrax Corporation, of Los Angeles, which has built a largebusi-nes- s around a research department headed by Mr. T. S. The Midwest Midwest company. . a Curtis, an accomplished ceramic engineer. At first it pio1 T rrlCflClS jHeflnlng Co. waa Incorporated un jder lh laws of Maine with sn u- neered in e refractories, utilizing magnesium Hal Andrews IhnrUrd cariiaUSntion of f 50,000,- , oxide for periclase and aluminum silicates for 00"' fonrernlng the Irsnwctlon. synthesized Ciold Crmtmental material used in refractory brick of various types. Injth fo,oW(nir announcement won prepared by rotifer Reynold, ill tensive prospecting disclosed suitable minerals, including a Al a atorkholdert' meeting held roctur of publicity for tho StandHal announced. ard Oil Co. of Indlann. and made cyanile found near Ogilby, Calif., from which several pro- September 9, it is public hy T. A. Dine, president ceased refractory and ceramic compounds were developed as Andrew ,m elected com-- of the MldweM rompnny: non-metall- cent in quantity and of more then IS per cent in gross value. The average factory price per barrel In bulk In 1911 wee 1.11. a decrease of t cents per barrel aa compared with 1130. Producer' stocks of Portland rement at the mills on Dec. 31 193134,177.151 barrel! showed a decrease of 7 per cent from th large atocke on Dec. 31, 130. tha only decrease recorded In stocks at the end of any year since 131. the They represented, however, greatest stocks at the mllla at the end of any year, except 1930. during which officlil statistical records of stock! have been kept. In response to requests from the cement Industry, figure of per capita consumption based on mill shipments by producers Into states have been complied and are given on page 4. These figures have proved useful although they are In soma measure approximation a they represent only tho records of Wi.. New Idaho Placer Area Now Located sale nf the assets nf the Midwest Refining cmnyany to Standing Oil & Oas company and the Standard Oil company of Indiana was ratified at a special meeting of the stockholders of the Midwest company in its offices in the First National Bank building in Ikniver, Monday, Oi l. 27. For some time, the trlaimiind of of one icr cent Indiana has owned all hut four of the outstanding sto k of the NON-METALLI- A Declines During 1931 1 i mm m Portland Cement I ndustry e, 11 the world's new wealth comes from Moincr increase its Earth and the waters thereon. No nation can waters bring a and products earth's the wealth unless for return a fair with price equalling the cost of production same. of in the production the lalwr and capital employed '2. Wien the United States produces a surplus of cotton, wheat, corn and other agricultural products, oil, fwh and iron, copper, lead, zinc, timber and wood products, aca products, the home price for such products is vitally affected and in most instances controlled by the world a price paid for such surpluses in other markets. 3. In ten year periods the cost of production in condetermine the junction with the supply and demand must of all products. average price all '4. As gold increases in its exchangeable value for in the must increase cost of production other commodities of Bilver gold standard countries and as the bullion price commodities other decreases in its exchangeability for all the cost of production must resultantly decrease in the diver standard countries. In the United States the producer of all raw materials as well as manufacured products where a surplus exists is doubly handicapped first, ,by the increasing cost of pitoduction as gold increases in its exchangeability for other commodities in our own country and second, and of even greater importance, the decreased cost of production in the silver standard countries for competing products as the bullion price of silver decreases in , treat mainly primary malarial produced 13,300 tons leas secondary copper in liai than In 10. Thera was a decrease of 0 per jent in secondary lead reported by emeltera that treat mainly ore and bulUon, and tho decrease in output of lead In alloy reported by smelters that tregt scrap and dromes was 31 per rent. The alnc recovered by redistills, tlon decreased about 11,200 tons, and tha line recovered In scrap braes wen much lraa in 111 than In 1010. Thr was little change In the quaniltlee of line dut, alnc chloride, end sine sulphate made from sine dross and alnc residue. The detlnnlng plants treated about 27.000 long torn lea clean than tin plat clipplnga In Tn a recent address, John Hays Hammond urged the rehabilitation of silver aa a step toward the restoration of rw 1. 11 non-metal- lic ni-'i- l, The mill building of tlia Gnoma Gold Mining Company la nearly complete. Tha ball mill, crushal. cyanide tanka, n 4M00-galkoil eterage tank nnd other machinery and equipment are in place. The mill tunnel la in (0 feet, in ore speaker at the luncheon of th virtually nil of tha way, and n Northwest Mining Association. The lower tunnel haa been advanced n Dome Mines of Ontario, n large distance aqunl to aevaral sets, with producer of gold, has taken over William Hopklna as managar, the Black Pine, which la of large "Tha Gnoma waa examined by area and near Elk City, according seven engineers nnd geologists, of to F. U. Handy, mining engineer? whom Rush J. White presented who waa in th district last weak. the lowest gold nvarage. It exceedAn option on an adjjolnlng prop- ed 31 to the ton. erty haa boon taken by Fred Her"Tho Lone Pino nt Golden waa rick, who operated In lumber In developed beyond the capacity of large way for many years. Th tho old mill which had but two Sperry Syndicate, whole members tamps. The mill la process of inare residents of Spokane, haa ac- stallation bee five times the caquired tha Commodore, or ground pacity. Much or has been develadjoining it, near th mouth of oped to a depth of 400 to 430 feet. Crooked River, it la reported that Values Above World Average Rowland B. Bhelledy of th Consol"All of these are idated Mining A Smelting Com- on flaauro veins developments and shear eonee, pany of Canada at Trail. B. C.. has types of deposits which are narrow been in the district. but of high grad a yet not narrowGnome and Luna Pine er than such deposit tha world are being Investigated oVer from which the greater part Properties . McCarthy, Jr., of the of the world's by Junes gold is produced. Heels Mining Company and a Mr. Thee deposits run considerably Robertson nnd It Is reported that higher than those of e the Nlpimlng and tha United Verde producer! in other dlatricfe. average In top have been looking Into tho area. Porcupine district of Canada, It was atatsd that, whlla retain- wherein nr th Dome, McIntyre, ing hie interest In tho Sweeny and Holllnger and others, th veins Kchutts properties In the Buffalo are broader but of lower grade doW. P. some of them containing It to 114 Hump area. Bradley is s ing no work there this year but t6 tho ton. will next year, It la expected. "It haa been eta tad that th opIt appears that two mills, tha erations of tho Sperry Syndicate I .one Pine at Golden and tha are on a body tl feet wide. Thl Gnome, between Orogrande and body would probably eome under Elk City, both in process of in- the claea of the ahear son deposstallation, would place the district its that are unusually wide." In a solid position," said Ur. Robert T. Banks said th syndicate had found good value high-quali- ty tut T, 1932. t th Metals -I 37,1 6s. Tin Spot 149, 10e; future Lead Spot 12. 7s. 6d: future 12. 17. Id Zinc Spot, II, 17s, Id, future 111. II. is. NEW TORK. Oct. . Foreign exchange firm: Great BrlUin In dollars: others in cents: Ureal Britain Demand .4i; 60 day cables 1.41 bill 3.44. Franre Dtmand 1. 13 cable 3.931. Italy Demand 1.12; cables I.- t3(. l-- l; l; Demand: Helaiuni, 13.16; Oermany. '3.77; Holland, 4ft. SI: Norway, 17.4ft. Sweden. 17.74; Denmark Hwltierland. 17.17; Spain I. II; Portugal, 3.14; Rreaee (x). Poland (a), II.- 11: .; raeebe-Slovakl- 7.961: a, ll.il; (x. Jugoslavia (g). 1.5s: Austria tx) 14. 00; Rumania x) Argentine 36.71; Brasil ixi 7.17; Tokyo. 11.631: 1ft. IS ; Montreal Shanehtl, 9ft. 97: Mexico City (Silver Trio) 11.79. x Nominal. .il; NEW TORK. Oct. 6. Capper quiet; electrolytic epot and fuTin. easy; a pot ind ture 34.16; future SI 16. Iron nulei; unchanged. Lend, steady. East. Rr. I.ii a and future - ft" Anilnmnypr 3.66. I, i r |