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Show 4 INTER-MOUNTAI- problem is inexplicable. A mining: engineer of some note expresses a belief, based upon certain remarks made by Prof. Emmons, that the latter has encountered a puzzle for which he is wholly unable to present a solution; that there is nothing in all the books that have been written, nothing beneath the ground ever revealed by human exeprience that will shed a ray of light upon the Camp Floyd mystery. The mining engineer furthermore wickedly insinuates that the distinguished professor is waiting for some geologist of less distinction, and less reputation at stake, to come forward with such an explanation as will afford him MINING REVIEW. N THE MERCUR SALE. THE MINERAL OUTPUT. Weels, Fargo & Ctxs statement of the mineral output of Utah for 1895 shows a very significant increase in figevery metal, and record-breakin- g ures on gold production. The increases over the previous year are: Gold, 8991 ounces; silver. 1,564,015 ounces; lead, 0S6 pounds; copper, 1,098,597 pounds. The gold output Is the highest in the At this writing it is not known what Capt. De Lamar intends to do with his option on the Mercur mine. A few days ago the prospect for a consummation of the sale was not regarded as favorable, but a telegram was received yesterday from President Dern, who is now in Nebraska, saying the deal was history of the Territory; the silver pro- still on. The opinion has prevailed at-in duction was only exceeded in 1891 and this city that Capt. De Lamar has 1892, the lead in 1891 and 1892, and the tempted to soar too high with the Mercur proposition, and that his efforts to copper in 1886, 1887 and 1888. The value of the output was place he property for three or four millions at New York had been defeated as follows: Gold, $1,308,360; silver, a cue. lead, $1,436,427; copper, $151,533; by the Venezuelan war scare and the consequent disturbance of financial total, $8,292,752. When silver was in the zenith of Its The Idaho output also show's an in- centers. able were prosperity, Utah and Idaho crease in valuation of $905,940, and IdaCapt. De Lamar, however, is noted to boast of mines that took front rank ho's total production exceeds that of for the successful execution of everywith the best of the producers. Now Utah by $2,407,248. thing he undertakes, and he is known cast that the white metal has been Colorados gold output shows an in- to enjoy the confidence of heavy invesdown and we have entered upon a crease of $6,000,000. tors in the East, which facts strengthen comes with forward Utah golden age, in detail from various States the belief that he will be on hand, Reports on the the most wonderful gold belt and Territories are as follows, some either in person or by proxy, tomorrow globe, and Idaho is opening up gold of them being estimated: with the million and a half. veins Innumerable. Should popular Silver. Lead. Total. fancy turn to any other metal known Copper. to mineralogy, these twin States will 15,-02- 8, $5,-366,4- 32; $ 5,306,432 be able to supply it in abundance. 5,000,000 14,259,019 As an illustration of the "cuteness of local manipulators, the following incident is related: A certain gentleman had 10,000 shares of a certain stock upon his hands, upon which he was obliged to realize at a figure considerably above current quotations. Immediately the air was filled with stories of strikes in the mine and sure and certain dividends; the stock jumped 50 per cent within a few days, and the man behind it all disposed of his last share on Saturday. The bears will now be given a chance. A number of important mining in- corporations have been postponed until Utahs first State Legislature has completed its labors, in the expectation that some important changes will be made in the laws governing corporations. There is apparent a disposition to incorporate with a large number of shares, at a low par value, in order to popularize mining investments by bringing them within the reach of all classes. The people of the West will view with some satisfaction the Pamelllzing of the United States Senate by the silver Senators. During this session of Congress no legislation is possible that does not make concessions to silver, and In the desperate distress of the Administration, this policy may possibly wring favors from the opposition. It will certainly intensify the present condiscomfort of the gold-standa- rd spirators at Washington. It may be of Interest to the people who are pounding away through the Camp Floyd rock to know that the first ore taken from the Golden Gate vein assayed but 80 cents. At a depth of thirty feet the vein showed a value of $7. Now Capt. De Lamar thinks he has about 800,000 tons in sight, and the people who have seen it guess the value to be anywhere from five to fifteen millions. j - 11 ' i- 375,0001 4,500,000 $1,436,427 3,000,000 295,114 1400,0001 124,500,000 $151,533 877, 492 too, 000, 0001 $ 8.292.752 10,700,000 35,432,150 jt212,000,000f Ounces. tPounds. $ RICH GROUND IN DISPUTE. Of the 200,000 shares of capital stock, shares have been listed with the An interesting piece of litigation is company at the stipulated price of furnished by the Tintic district. The $7.50. De Lamar will, therefore, be rebelligerents are the Centennial-Eurek- a quired to pay $1,477,500. The report that and the Eureka Hill Mining companies, he paid $50,000 for the option is untrue. owners of two of the richest silver Not a dollar has been paid. Of the mines In the West The property in 197.000 shares listed for transfer, all but dispute is but a small strip of ground, 54.000 shares are owned in this city. The but fifty or sixty feet, where the ends consummation of the sale would, thereof the two claims join, but that little fore. release over a million dollars of piece of ground is worth a great deal local money, the bulk of which would of money, as it contains a large body immediately seek reinvestment in the of ore, said to be rich, but how rich the mines and greatly stimulate the industry. disputants will not divulge. The point at issue is a rather peculiar In some ways the retention of the one, but ought to be capable of easy property by the present owners would settlement. The fifty feet of ground prove beneficial to Utah and the Camp is covered by the Eureka Hill patent, Floyd district. It is the announced inbut not by the stakes. The Centennial-Eurek- a tention of the company, should the alleges that it has been in un- property not be transferred, to at once n disputed possession for many years and commence the erection of a that the stakes are just where they plant, which would probably be built were placed by the Eureka Hill sur- at the mine, as the saving in transporveyors. They propose to stand by the tation would more than compensate for stakes, while the Eureka Hill will in- the increased cost of water. Dividends sist upon the full 2200 feet covered by would also be resumed on the 20th, and the management believes it possible to the patent. Both parties have been extracting ore pay for the new plant and continue from the ground in dispute, and last dividend payments out of the profits of month the Eureka Hill men broke the mine. Should the property be sold to an Eastern syndicate, the immense through Into the Centennial-Eurek- a workings. An injunction suit was filed, profits that are certain to result from its operation would leave the State. and the courts will settle It. Should the present ownership continue, The war scare and the resultant they will remain in Utah and be used panic upon the exchanges have had no In the development of other mines and serious effect upon Western mining in- in the improvement of real estate. Whether the deal is consummated or vestments, although some large funds that were ready for Investment In Utah not cuts no figure with the Camp Floyd district. The future of the great gold have been temporarily hung up. belt is not dependent upon the success Honesty is Just as best a policy in or failure of any attempt to float one the publication of mining news as in of the properties for several million dolselling sugar, and it is the policy of lars at New York during a time of financial disturbance. the Review. 197.000 600-to- |