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Show TJESTERN MINE RAT, SURVEY. SALT LAKE CITY. UTAH. MAY 17. 1929. 4 Leading Copper Producers Announce Output Reduction ran Stabilization Move Seen in Step; Red Metal Steady At $18c; Lead .Somewhat Weaker; Zinc and Silver Stagnant Company Installs Heavier Equipment and Im(From the Engineering and Mining Journal.) NEW YORK Little change has been evident during Machinery. proved the last week either in volume of sales or price in the princiThe situation continues pal nonferrous metal markets. Spudding In of Diamond Oil comexceedingly quiet, with a pronounced trend toward No. 3 teat will taka placa pany's buying as stocks in consumers hands continue to Tuesday In Diamond Fork canyon, dwindle. News of a curtailment in copper production, made section 14, I South Fifth East. A public today, aroused great interest. large number of stockholders art hand-to-mou- Copim Steady. This week haa been similar to ho aix preceding In copper, with .tlca confined to the custom smeltfew thousand ers, and limned to ten. The large producer have accumulated a fair amount of orders waiting hooking, hut are not closing any of them for iho present, and turning a much of the current business as possible over lo the more urrrnt seller. August shipment ha been in greatest demand, with some May and June; all haa gone at be., delivered Connect!, ui. or that basis. Anaconda. Chile and Andes today announced a 10 per rent curtailment In production. Other conipanlea have already takn sttps In (hat dircrllnn or are contemplating doing so, a the Increase that haa been made in a little production rates seems If now more than Is necessary consumption tapers off, as the recent quiet buying market would Indicate. However, refined stoeke are expected to he built up to at least 100. Out) tons, which will require a substantial margin of production some above for consumption months, so it would seem that the curtailment announced today is a constructive step toward the maintenance of the Ike price level Trading In copper began on the New York Metal exchange today, with sales at 1(.80M8.75, electrolytic basis, but as eopper aa low as 94 per rent Is deliverable under the exchange contract this market will not be used fortrading between producer and consumer, hut only aa an opportunity for hedging or speculation in the metal. Tho price Is not romnarablr m that quoted In the usual market. Foreign business. ulthough about twice aa good as It was last month, la still exceedingly quiet at the unchanged price of lt.luo c. I. f. usual Foreign declinations. average, Weekly 17.775. Zinc Market Slow. Zinc haa sold only In small volume ugain this week, with prices wide range, exhibiting a rather front the occasional carload of particular brands at 8.80c to the (.55c level quoted by at least one eeller for a limited tonnage. A fair amount was marketed at (.(5c. The shipments in demand varied all the way from spot to July. There la no gerat pressure to sell In any great tonnage, and large producers still think that fundamental conditions justify higher prices, which they are holding out for. (.kilo St. Louis being their present Idea of a satisfactory price. e are Spot carloads of nominally (c, delivered in the east. . Weekly averages, line, ( (75. Recessive. i 1 high-grad- A distinctly easier tone haa appeared In the lead market during the last few days. A continuation of poor demand and weakness In London lead prices are primarily reeponelble for the appearance of that weaknessee in a situation previously had given promise of York New sustained stability. The price remains at the level of the American Smelting end Refining company's contract price. 7c per pound. One small sale was reported at II per ton under the 7c prlre. though the tonnage was not sufficient to be reflected In the average quotation. Total sales for the last week were even lees than that of which was the preceding week. well below normal. This makes the less eighth consecutive week of than average buying. Tha St. Louis from declined market considerably the 1.80c level recorded last week, though a few small lots did rhango hands at tha price this week. A fairly good tonnage sold aa low aa I. lac per pound yesterday, and a corresponding tonnage was sold at the equivalent of that price today. Assuming that ennsumptflm la continuing at the Kline high rate recorded In the first quarter, It seems certain that considerable buying must apepsr soon, for consumers are, as yet, very poorly covered on the June position. If good scale Inlying does not materialise tn the near future, and London lead quotations continue to decline, further DOOLY BLOCK I ALT LAKE CITY Headquarters for Mining Companies and Mining Marfclaery Houses Suitable Offlrea For Kent t Metal Prices -- l.mil- . . 'dim- . . Silver . th ..17.15 7.iiU Mill llglll ,.. .I.f.25 inieiiiiii .. .541 planning to witness tha ceremony. Four experienced well drillera have been securait from various pans of the country to form tha nucleua of tha crew. Gus Stalnbrook, head driller, la from Oklahoma. Among our crew," said Manager "are Joseph Battling Thursday, four of tho moat experienced men In tha United States. Mr. Statu-broothe son of our former superintendent, H. T. Stalnbrook, has a record of never losing a wall.." The company ha,i added a number of Improvements to Its equipment and drilling facilities that will enable quick work on the new well. Among these la a II foot steel erected on cement piers. This take the place of the uld 58 fool mast that haa been used k, NEW YORK. Copper, quirt; spot and futures, electrulytlc, lie. Iron, steady; unchanged. Tin, steady; spot and ture. lead, fu- 4 1.25144.17. steady: spot, New York;, 7.00; Kant Ft. Louis, 4.7U tj.fi. 7e. dim-- , steady; Fast St. I.ouis, slid future, C.fiuQC.75. Antimony, S.S7. previously. "The bit will be dressed with a Berqulst ateam derrick hammer, weighing soma 1700 pounds. Tills piece of machinery la now being installed. It works by steam and will enable tlir bite to be dressed while the drilling operation la In progress. The old style of dressing tho bits with a dressing rant necessitated shutting down drilling oper-stlowhile the hits were being KlHEKA Mines In tint Tititii: car111 dressed. This took about a total of district shipped loads of ore during the week end- of the drilling tunc. "The company lias alao Installed ing May 11 aa compared with 117 carloads for the week preceding. an up to dale acetylene welding Shipments by mines and In car- proeesa. which whop needed will aava the time of sanding 30 miles loads follow: Tlnlic Standard. 41; North Lily. t0T a welder and equipment, someChief Consolidated. SI; Plntus, times to do a very small job. These II; with other improved conditions, 11; Eureka Lily, 4; Mammoth. 9; Bullion Beck, 5; Bingham Miner, should enahlo Dm drilling of the 5; Centennial Eureka, 2: A. 8. present well to the upper sand, It. (dump ore), S; Knight Investabout 1400 feet from tho surface, ment, 1. Inaround 10 dajV time. 'The company's engineer end ofBINGHAM Ore rhipinenta ficials are of getting profrom the mlnea of tho Bingham duction In confident the upper sand. A district for the week totaled 171 inch hole will be spudded In. It carloads, end are ae follows: la that the upper sand I'mted Flats Mining company, willexpected be reached with a ten Inch cas- 70; Utah Apex kilning company, 43; Bingham Mines company, 33; Utah Metals A Tunnel Mining company. 17; Bingham Prospect MinOhio Copper 18; ing company. company (precipitates), !; park Bingham Mining company, 1. The Utah Delaware Mining company shipped over their aerial tramway Members of the National Metal 1,150 (ona have York, Tha Utah Copper la producing Exchange, of New unanimously accepted the proposed around 00,000 tons dally. Shipments one-thir- d li National Exchange To Deal in Copper amendment to the providing for trading In copper futuree. The Exchange now trades only in tin futures. "We plan to start trading In ropprr futures about the mldla of May." uld Erwin Yogelung, president, and look forward to an active market In this roatal. Tha copper contract baa baen carefully drawn to meet the requlemeuts of the Industry and we believe It will have the approval of producers, exporters, manufacturers and consumers alike. Thla naw department will supplement trading In tin futures and will add materially to the volume of business transacted in our market." by-la- TARK CITY Shipments from the mines In tha Pirk City district totaled 0.044 tons during ihu week ending May 11, as compared with 5.104 tons fur the week preceding. Those shipping wera Park-Uta- h Consolidated, 4,058 tons; King Coalition, 1,345 tons, and New Quincy. 741 Iona Mil-v- er reduction in domestic prices scent Inevitable. Weekly average. New Tork: Lead- 7,oopc; Loufn lead, Ft. l.7Slc. Tin Dormant. Business In Straits tin has been virtually at a standstill; In fact, a somewhat greater volume of business In Chinese and Ei.glish 00 per cent tin. at about lc per pound under the Straits price, has been done In the last week than was reported in Strait. Nominal aupport from the London "group" haa prevented In an appreciable decline prlre. Strsita tin. 44.354. Silver Unsettled. The silver market haa continued to decline during the week as a result of lower ratea in China exchanges. India haa shown little Interest in the local market, although reports from abroad indicate that moderate buying orders havo been received from that quarter. .The tendency remains unsettled. New York silver, 54.4T9 - Weekly Log Of IdahoWells rtaU Southern Oil COMpunr-Uta- h (HI Refining Company Frank Sharer No. 1, Cana Creek dome, section discovery well of Moab district. Shut in. John I Shafer No. IA, aection the first flank wall on Cane Creek dome. 'half a mile north of discovery well. Bottomed In h lime at 1. 015 feet. Running of casing to bottom wan completed and raalng was camanted to effect shutoff of water. Cement will be allowed to act for several days before drilling la started. King No. 1, Balt Valley structure. section 1331-2Drilling was suspended at 3.710 feet due to cevey hole. String of 3 44 inch casing will be run before drilling deeper. Hole la bottomed in conglomerate ahale formation. Daetweiler No. 1, Dickinson county, Kansas. Drilling nt 24)0. IU-Inc- 0. -- No. Mid-Kans- 1, Osborne county, Kansas. Spudded in on last report Saturday. Grayaon No. 3, Reagan county, where oempany has two wells on pump, drilling nt 2310 feet. Creacrnt OH Syndicate, McCarthy No. I test. Crescent dome, near Thom peons. Fifteen hundred feel of caaing delivered at the well this week. Thla will be run and set. L. Kendrick, a driller of many years' experience, takaa charge. Mr. Kendrick la of the opinion that within 3U days ha can have tha well on production. Work will be pusched to the limit by the new superintendent. Between 300 and 3ju feet below the present bottom of the hole the company expects to enter the Ferron sand, one of the chief objectives. Navnjo Petroleum Corporation-St- ate No. 1, Cisco dome, section After getting a good showing of oil and gas at 3,111 feet, a gaa stratum was struck at 3.903 feet and salt watar at 3,115 feet. This is to bo rased off and drilling to tha Salt Wash sand resumed, where It la believed there ! a good chance to get oil production. Boulder Knoll Oil 4k Gaa Company Endter No. 1. Boulder Knoll Botstructure, aection tomed at 3.1140 feet on top of Bhlnarump aar.d, which haa been producing a strong flow of wet gas for over six months. Well was opened up title week and ewab run. which greatly increased gaa flow. Equipment now being delivered to g location for of hols and setting I Vi -- Inch caaing, before drilling deeper. Oontlnetal-fiant- a Fe Com pan Ins Rattlesnake No. 17, section Rattlesnake dome, New Mexico, ten milea from the southeast corner of Utah. Thla well came In with oil production estimated at 1.100 barrels dally a month ago, the oil flowing up through a hole full cf ealt water from a depth of g to set 0.771 fret. casing on bottom had to be aban- 5. under-reamin- Undar-reemln- MIXES FOR LEASE AND BOND A good paying mins In Cripple Creek, Colorado. Lessees must be responsible. Particulars can be secured from owner, T. J. Waywahaa. 4104 Tnrsll H. Mb Dies a. Call for sis. Mining and Oil Digest Published monthly. Sent free for six months. NO OBLIGATION. Gives reports and quotations on Star of Utah Ute Gold Mining Westbrook-Thompso- n Mayflower Mines Bonanza Gold Monarch Royalty and many others USE THE COUPON BELOW CLAIM MAP c. 1. -- e under- -reaming Mc-Ctl- -- Standard Exploration company Western Crude Oil Company test of the Horseshoe Structure, F reparations being mads to spud 40 miles northeast of Idaho Falla Is down to 276 feet and drilling In In test well on Cisco Springs structure, ten miles north of Cisco shale, member of the Frontier town. Rig o nlorstion. Formation, upper Cretaceous. Continental Oil Ctnnpouy Well this well will be finished during No. 1, Boundary Butts structure, the present spring season. section Drilling In PennLatest advices indicates that 20 sylvanian formation at around rigs or more will be drilling in the feet, and drill is believed to lie Spring Valley district during the stratum where tha large nearing present year. Among those Interprdouctlon was encountered In well ested there are the Doheny InterNo. 17 on Rattlesnake srtucture a ests. tha Ohio Oil company, the month ago. Oil company, the Standard of California, the Enalgn ftedilatx. teat. Great Oil company and others. LEONORA Salt lake near Ruse I Shut duwu for orders. A. P Kuobndas test,. I TO nor I A Ceaaervatlve lease, G Freni bait Lake area near I Kosrt Last report stated good Brokerage Heiass progress was being made below 2.100 feet with diamond drill. y Ensign OH Ca Officials of the Ensign Oil company, operating in southwestern Wyoming, are preparing. according to report of the company's engineer, to begin drillRestea Bldg. balls ing operations In South Spring valley district within the next two Salt Lake weeks. Wasatek 537 1. The president, vies president and engineer are In Wyoming now Censnlt as erasers lag looking over the field. luveataraate. We nil The company haa Initiated work on Its permits at Hilliard Flats, (ke stack market eaek on the Alkali Creek dome. Lyman, atgkt at lt4S ever KSL. The Alkali dome la partly controlled by the Ensign Oil company, Phene Writ Wire and partly hy the Prairie Oil company; the latter company having LA COSTE & CO. already drilled a well to a depth of 2.600 feet, where It entered A Ceaaervatlve Brokerage into the oil sandThis waa dona Baaaa last fall. Casing was set and the well cemented. It Is expected that La Coste & Co. 13 - SPECIAL BARGAIN SALE Do jou want to step Into a soft spot and pick up some easy money T If so. don't overlook this SPECIAL offering as It will never appear again. Too readers of thla publication have read our previous advertisements In the columns of thlo newspaper. Many have responded and purchased our Undivided Interests at 1300.00 each, and they were cheap at tha pries and If wa know anything whatever they will return tremendous dividends. We believe tbesa Interests wilt command a market value of (3.000.00 within ninety days. Gome real action can ba exported on our part within the naxt thirty days. Many of ths Mg operator had tbalr struggles and plenty nf grief before they accomplished their goal and made tha first million In the oil business, but by continual plugging and exerting every effort they made fortunes for themielves and associates. We believe we are on the road to fortune If jot will lend ua your support at this time. Our major expense haa been taken cars of and It only requires a very limited amount to finish the Job. Wa have a real drilling equipment and a batter crew could not be secured ter our purpose. They are confidant that only about three hundred feet or additional drilling li required to bring in a reel producer. We have been delayed for coma time in securing some 1500 faet of eight and a quarter inch caaing which was absolutely necessary to complete tbs Job and orercome a caving situation. Thla seeing has been purchased and delivered to the property and will be set immediately, and e should reach the famous Dakota Oil Band within the neat two or thraa weeks. Our SPECIAL offering to you Is that w are offering a whlb have been limited number of our Undivided Interest placed fnr the past thirty days at (200.0" at tha price ef d cash and the balance In two (150.00. either for cash or of these monthly payments. We have sat aside twenty-fiv- e Interests at thla price. There are only five hundred tn all, our capitalisation being (50.000.00. Syndicate members receive the profits from the sale of 755 of the residue ef oil In cash carh thirty days. Undivided available at tha Only twenty-fiv- e (150.Q0 prlca We reserve the rlaht to refund checks for an Orders will ba executed In rotation aa received at our office. one-thir- TIE EAST PARK CITY DISTRICT Heavy Bound Paper 20 in. x 15 in. THE COUPON BELOW Kamp and Company La SS3 FOR SALE $1 EACH Western Mineral Survey Room 111, Atlas Block Salt Labs City. Denham Bldg, DENVER. CO KAMP AND COMPANY, Denham BM, Dearer, Cate. Date Please Bead me year Monthly Mining A Oil Digest far six months, free af charge aad wlthaat any abllgatlaa. an Members Salt Lake Stock and Mining Exchange. MARKET SLANT OF MAY 16TH 1929 glare ear last report nf lot week there kaa te very lltttr la the f rarrsl market situation. Vow U alary Is now srll-I( 10 rents a share sad the markrt today was KC.IK hid aad offers held at 83.ITV. rruducllan will hr larrraard are of thr opinion that this stork will la thr nrar future aad sell murk klahrr before Brat dlvldrad payment. Walkrr Is still arlHaa atroaar a round MAO a share aad If ropprr stays around IN rents yoa ran look (nr bin earnlasa from thla preprrly, wa think that Walkrr Is worth mare money aad that It will aril for more tn the nest frw month. Lett Ttntlc aad Tlnllr Empire, tha North Tlntlr Favorites have slumped a little Blare last week, hat mtno renditions are storks should start hark ap reported as Improvlaa and the rlaht away.- - A ronsnlldatiua ef these two properties has hern aaaonnrrd aad thr new company to he railed the l.ehl Tlatlr. Tla-t- is Empire atorkbaldera reme lata the reasalldatlna at tha rate of MW shares dor rarh lomi they bow hold, and Lrhl gaea la share for aherr. rkaaar ns sr A prominent Minina Men end hie rasitaeer visited the Lekre ef Killerary Minna Company Sunday and resort a pood abnwlux J the up ralsa that thr rempaay la naw maktaa rea-- p with a hlak erode ere body they bed on the upper tafnnnrt level, and prostrated that the Kllleraey Minina rempaay weald naan gala the list of procurers. broadcast a review ef Ike Kelt I eke Share Mnr-k- et rarh craning arer KDYL at CtM p. m. Mining Tune In and hear We want baalara. ynnr mt. and ran glre yon nervier. Oar Mafia lai --Once a Caatomrr, Always a C'astomer." (Ive ae a chance la aerta you. YOl'HI TO SERVE H. B. COLE, President. Office Lobby of the Atlas Block. Phone Was. 4994. A Manual of Copper Stocks which will include complete information on one hundred leading copper companies in all parts of the world is now being compiled by the editorial staff of Minos and Markets. PRICE $1.00 A COPY The first edition will be limited to 10,000 copies. If a copy reserved for you, sign and mail the following coupon at once. you wish MINES A MARKETS 38 Broadway, New York Kacteaed IIM la payment ef me rapy ef tbr VnncJ nt (epper Starke wklek la ta ke reserved me tram the first edition aad malted prepaid ae area as It Is aff tke press. fr ... a..... IMrm I. At 10 Cents a Share IS THE BEST BUY IN MINING STOCKS TODAY FOR THE MONEY. First Utah Mines are the biggest and beat pro-duri- ng minea, both from a production and dividend the paying atandpoint, and the longeat lived of any in 0 world. Second Tintic Mining District is one of the oldest, and biggest and best producers in Utah. Some of the best and biggest having been producing for fifty both years and still going strong, increasing with depth in quantity and values of ores, and recent development is proving the ore zones extend both north and east. Third The North Tintic Mining Company is right in line with the trend of new development to the north and east in the Tintic Mining District. This development started with the Tintic Standard, then the North is every Lily, Eureka Lily and Eureka Bullion and there viewreason both from a geological and engineering point to believe that the North Tintic should duplicate the record of the Tintic Standard and North Lily mines. Fourth North Tintic Mining Company owns 411 acres all patented, lying in the heart of the new development in the north and east Tintic Mining District, and ia managed by both able and honest men who have the respect and admiration of everybody that knows them. Fifth North Tintic Mining Company is capitalized for 2,500.000 shares, par value $1.00 of which are in the treasury insuring ample capital for developing a big mine. Slock is non assessable. Sixth There is only a limited amount for sale at 10 cents a share and when this is sold the next block sells at 15 cents; then 20 cents; then 25 cents; then 30 cents. Buyers at 10 cents a share will be lucky. Seventh Three of the leading geologists and mining engineers of Utah have examined this property and are unqualified in their endorsement of ths property and this view is that of practically every mining man who is familiar with the North Tintic Mining Companys property. Eighth Twenty of the leading mining companies stocks of Utah have shown an advance of seventy-fiv- e millions of dollars in the market value of their outstanding stock during the last year. Not so long ago you could have bought Tintic Standard, North Lily, Eureka Lily, Eureka Bullion for 10 cents or less, and Tintic Standard today is selling for $14.00 and North Lily at $9.00 a share, and others up in the dollars. Buyers of the big profit making stock had both vision and nerve and that is what it takes to pick the winners, along with a little judgment. Ninth The way to make money in mining stocks is to buy in a company like North 'Tintic when the stock is starting off at a low figure, and North Tintic has everything to make it a big successful mining company and that quick. Tenth Owners of Utah Mining Stocks have realized many millions of dollar profit during the past year, and a large part of this profit was made in the Tintic District in which the North Tintic Mining Com- pany is now operating, and there is every reason to believe that this company will make the big money for investors in its stock that ha been made in Tintic Stand- - ' ard. North Lily, Eureka Bullion and Chief Consolidated. ' North Tintic owns its 411 acres of patented property free and clear of ail indebtedness, with money in the bank, ideally located for big production, with development well under way, under the management of well known and experienced mining men who have the confidence of the public wherever known, and there is every reason to believe that North Tintic stocks at 10 cents a share will make investors big money and that Frank M. Maloney Write me right now. You have everything to gain, nothing to lose. Oil Syndicate CONTINENTAL BANK BUILDING SALT LAKE CITY, UTAH COMPANY N , Will EUREKA BULLIONS rise he a spectacular as that of NORTH LILY? We have information on several meritorious issues. Send for our market forecast. No obligation. .... Address ts Send for free map covering Crescent Field Creseent Xante NORTH TINTIC MINING STOCK quick. Conclusion You see other people without any more ability than you who have been making money in this Utah Mining boom which is just in its infancy and you wonder why you have not done the same. The reason is that you saw the opportunity, and for 57 different reasons you did not grap it. I am offering you the real opportunity of your life and why not take it. I have an interesting map of the Tintic district showing the location of the Chief Consolidated, Tintic Standard, North Lily, Eureka Bullion, and North Tintic together with interesting reports by threat of Uahg leading geologists and engineers which I will mail you free on request. IT COSTS NOTHING TO INVESTIGATE. IT WILL MAKE YOU MONEY. You can buy North Tintic stock either for cash or on 5 equal monthly payments, and if bought on payments now you will see the stock selling at a much higher price before your payments are completed. Tnt-rei- City COLE-ALLE- why donsd on account of difficulty of working at that depth under high IDAHO FALLS Tha Meadow pressure and consequent danger to caaing. Tha plan now Is to put the Craak Structure test, by tha Standwell on production through a ard of California, IS miles northsmaller pipe with a packer on ths west of Idaho Falla, la now down bottom. 3,304 feet, with drilling proceedPhillips Petroleum Corporation ing In hard gray lima, member of Well No. 1. Barrier Creek dome, the Thaynea Group, Lower Trlae-sisection Cavey hole whs While tn thla hard formation, cemented at 4,115 fast, and cement 30 faet per day ia bewaa beging drilled out Friday. Run- only about la about 3,(00 ning of I H Inch caaing to bottom ing made. There will bo commenced May 15. Caa- feat of water In tha hole. Ten ing will ba camanted to affect wa- inch tiling Is down 3,037 fast-Thter shutoff before drilling deepqr- Standard expacta to start within a few days Oil Oeecrut Syndicate No. 1, Crescent dome, sec- and carry 10 Inch casing on down. Bottomed at 1,135 The thickness of tha sedimants ia tion feet. String of 1 44 Inch casing be- checking out quite close to the Wyoming formation. ing run, and will be cemented before drilling deeper. The Grand Teton Oil company 211-3- Reasoms HO &Will WALKER MINING be another Greene Cananea? & Co. Salt Lake City, Utah 157 South Main Street Members of the Pelt Lake Mwk aad Mlnleg Esehange OFFICE i 13B North Center St Mean, Ne. IHT S- - Main St Salt Lake TELEPHONE WAS. HMM. GOOD SIXTY DAYS ONLY Frank M. Malraey A Company. 1ST Snath Main Street Salt Lake City. link. Gent lament Yoa may send me year market errvlre for slaty days rKET rafts, fnr I nm Interested In MAKING LEGITIMATE MARPROFITS. It la anderslend that fits plarea me ander no eblinstlnn whatever. . . .fjma Address (Up .... JACK DORON 517 ATLAS BLOCK JACK DOROX. BIT Atlas Block Balt Lake Cite Find enclosed I payment In (full) (part) for sharer nf Knrth Tintic Mining Company stock at 10 rents a share. If boueht nn tha flvq In four equal monthly pays pajment plan will pajr balem-men!, bend full particular nlth inapa and atiBlneera' report; Mama .1 State Phene it? Salt Lake City, lltak ABddr- -. . . |