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Show THE SALT LAKE TRIBUNE, FRIDAY MORNIYG, DECEMBER 10, 1920. T Cooper Bilnr Croesus Shale Raise Strikes Favorable Showing; Ruby Hill Mill Nearly Ready. MOO ...6J I ,SN4 Shoot Thirty Feet Wide Goldfield Reports Say Deep Encountered in East Drift Development Results in Discoveries. From Shaft on 300 Level. Important f , ship--toe- 400-fo- ot high-gra- y. L NSW YORK I NEW YORK. IKK. 9. per rnebanged. , Exchange Bteadv. . ' ; fMrrling Prim mercantile pa- 1 METALS. nt 2c LISTED STOCKS. Alta Cos Alta Tiger Albion i a Am t'ou Copper Alta Tunnel .... Bearer .01 .01 .01 .05 ........ .50 .81 .08 . . . ...t Slug Judge MAS Keystone King David Kennebec fjehl Tintlc $03 .074 .00 .07 .06 .104 .01 .064 ......... .004 .20 .65 .114 .08 ......... ........ .034 .35 .02 .014 .044 .05 .... .... .01 .06 .05 .08 .02 .10 .184 .22 .01 .02 .004 .00 1.75 1.80 l.OA 1.00 .03 .01 .01 .01 .004 .02 .014 .02 8.724 3.73 .004 06 ou Chief .10 .084 .01 .10 .004 .024 ....... .418 2.00 V Con Yankee 7uma 8.00 .10 .05 .08 .00 .08 .084 OPENING SALK. Bullion 1000 at 3e Out. Eureka 1000 at 14c. Daly West 80 ad $4.25. 2300 at Emma Kiperald 1000 at 1500 at 8c. Eureka Mine Eureka Bullion-- at lie; 8006 at Isakl Tintlc 8006 at 2000 t lycenora . 1000 at May Nw Quincy 1000 at 4c; 8000 at 1000 North Standard at V; 1000 at Ml at 30c: Prince--- 1 100 at Mtro Arxcntiae loot) at BUtcc King Coalition 80ft $1.75 Barer ftiilHd looo at 81c; 800 at 82c. O at 8c. CLOSING 8ALK AHa Tunnel 2000 at Columtma Retail 2uoO at Eureka Bullion 8Tt0 at 1046. 10O at Tor. Krj'itone North Standard 1000 at Sc. Price 10UU at. 64c; 00 af 8c. A Savings Pass Book A re as Ideal Xmas Gift On dollar starts account and secures for you this savings bank. 41 per cent on Savings Tracy Loan & Trust Co. 6c. 2e. , GCYER31MEHT at at ftoOO le.at 20 Anglo 18 Hotkeys Chcacbrough ... Preferred . Continental .... Crescent . Cittubcrlasd Eureka .. .. Galena ok! do aw pfd do common .... Illinois Pipe ... Indiana ltpo .... Imperial Oil ..... National Transit N Pipe Oil Ohio , ,, 125 00 90 86 46 155 65 97 25 100 98 185 FOREIGN J- - Washington 860 IH 450 iXi 400 480 ten 107 93 817 98 322 83 HO 80 BOSTON CURB CLOSE. Reported by J, A. rwi a Co ( 4e.&c. Bid. Main OQDEN Cedes L TeL 71 i t . pm DM 410 83 (AsZrd. WILL SELL ..... IS National City Bank 30 Deseret Savings Bank ... Consolidated Music, pfd.. Mutual Creamery Zion's Savings Bank .... Peoples Sugaf 60 Beet Grower Suga( ... 20 Beneficial Life Ins...,.., 10 National Copper Bank ,. 10 First National, Ogden .. 11 600 20 100 10 Z. C. M. L 10 Con. Wagon. A Mach.. . a piston Sugar 100 Sprlngvllle-600 Utah-Idah- o Sugar 26 Amalgamated Sugar, pfd., 217 Amalgamated, common Se. , ,1143.00 . 326.00 . 73.60 . , Utah-Idah- cent Bonds. ties on 7 Basis. o 6 60 40 . . 137.00 . 167.60 . 320.00 . 131.00 ... $10,000 10.00 , 13.00 104 60 60 6.60 9.00 13 35 gugar 7 per Various maturiper cent Interest Cotton futures eprned 16.04c; trady; Dmher. 16 05c; January. Marrh. 16.15c; May. 16 80c; July. 16 88c. rlftard steady. Cotton futiiAg Drccmtof, A6Tr; January, IS 76r; March. ISftoe; May, 160Nc; July. 16 IV Button -- Spot ftulet; uilddllngr 1ft Bid 82 LONDON. Dec. ft. MONEY. Bar aMr. 8d ratre, ounce; munce. nachanjrd; diecouet bills, ft4Q6H per eat; three month 6 It lft prr oroL NEW YORK PRODUCE. kKW T0HK, Per. . Ratter Firs; Vrrsm. rry klghrr (lss ritra, MnM'vr; sitrz, 6444 . firsts 4lnir. 66Si ti ffbr4 fttrz 'first. 9$ o. finis, htsihir fine, -I SI siy, usthsngsd. Fonllry Xln, smdy, rblrkrzt kr freight, per JT by etitrres. Z04T.lv ; fowls, 244 file; old short meter. I4tlbrl- - turbeyi, SAtf40c Pressed till, (Jsiet; weeters turkrs, fresh. 4 A HI 52c ; other nrtrw: fr-s- Edward L. Barton 160 I - , For more than six months the great fir mills of the Northwest have been progressively announcing price reductions, which, notwithstanding a 25 per cent advance in freight charges, have accumulated until a new price level has now been stureached. Manufacturers and dents of production costs insist that this cannot be permanently lowered unless there is a decrease in such important elements of cost as freight, labor, fuel, hgovernment taxes, etc. , These reductions to the present low price levels have, be'en consistently, and' regularly passed on to the consumer in the local retail well-inform- market IS ed I , The declines have been so pronounced and so well in advance of. other- - building commodities that few persons not, directly involved seem' to realize their full extent. Present prices do not: represent .Leaders, Specials, or Sale Prices. They are real reductions all along the line on the. standard items of lumber principally used in this' market. -- Salt Lake Retail Lumber Dealers SOUTH MAIN STREET Rhone Wi. 866 DEALER ALL LOCAL HIGH-GRAD- E DIVIDEND-RAYIN- STOCKS, LIBERTY BONDS, ETC. i ebrbeD(rd, 'f- Brass manufacturers, normally credited with melting 40 per cent of the copper consumed In the United States, have not been Important factors In the copper mardoket this year. Whatever buying Infor 1920. mestic account has taken place has been chiefly for foundry and wire mill consumption. It is estimated 100,000,000 pounds of scrap brass has been bought here and This abroad by American brass mills. scrap has been melted down4 for its copper cents a pound content at a cost of about under the then open market quotation of the leading producers. Copper, at 13V4 to 14 cents a pound, has at which the dropped to about the cost brass men were getting out their copper from sprap. ' - 258 63 828 720 625 470 857 413 60 818 715 Consumption of Copper for Brass Is Decreasing Lumber is the first basic building commodity that has been readjusted to a decisively lower price level. g0 103 100 24 . -- 27 165 102 296 17 40 810 208 500 hand-to-mou- th FACTS ABOUT LUMBER SAN FRANCISCO MINING STOCKS. (As by J. A. Hole A Ca ) 87 2 8 I V loo SM since the war. With a readjustment In theseTcopdltlohs, whiuh' is now under way, this work will be started. In general, the return to normal conditions must mean a largely Increased demand for copper for all purposes, both abroad and at home. Just so long as the buying continues, present Just so much greater will tne accumulated need grow." A 92 5 NEW YORK. Dec. I, A. BOGLE & CO. Wiutck Et Stephen Birch, president of Kennecott Copper corporation, according to the Boston New Bureau, says copper haa been deflated to a point where Jt is one of the cheapest commodities In tile world. The Industry Is face to face with the same situation that confronts other lines of buslnee," he added. 'But sine the 1HO Shame sold. 41 256 Stdllag ynlue. $6766.56 LONDON lift POCATELLO. Idaho, Doc. B On December 6 the Sunshine Mining company bewail the construction of a mill with a capacity between forty and fifty tons per day. W. F. Newton, manager of the mine, will supervise . the work of construction, and the plant will be almost a duplli-atioof the Big Creek Mining companys mill situated near by. The company Is now shipping high grade silver ore from the lowest level of the Yankee Boy. and it ithought that the ore from this mine and from other leasee, will keep the mill running full capacity. The ore is shipped for smelting to the Helena plant of the American Smelting Sk. Refining company. It Is and averages about 100 ounces copper gray In ellver. will still continue, according to Drifting Mr. Newton. In the direction of the Polaris, a distance of about 1600 feet. There are flv tunnels on the Yankee Bov. which the company will lease for work this winter. COTTON MARKET. EXCHANGE BALT LA KB Tribune. too 9t 16 ...... ..... As 81 2MM Interna tl Pete Penn Mex Prairie Oil Pralrls Pipe ... 8lar Refg ...... ftottfbera Pipe Booth Pena Oil.. ft W Penn Oil 8tanUrd Oil California Standard Oil Indiana ... Standard Oil Kansas.. fttsadard Oil Kentucky . Standard OH New York , Standard Oil Ohio Preferred Standard Oil Nebraska., Swan A Finch. ....... . Lmoo Tank Preferred I 2H H4 .... Transit Y Northern 167 100 110 420 87 210 102 118 TOTALS. IXYESTMEilT SECURITIES to T1t H4 4P0 ftOr. South Hcola Hiiwr Shield 1500 at 88c. Tintlc Standard 400 at $8 76. YVret Toledo 1000 at 24n Wondlawn 800 at fte. Sliver King Con. 100 at $1.02. CO,IDS SKtI1 President of the Kennecott Company Says Red Metal Has Excellent Perspective STANDARD OIL STOCKS. (A Reported by J. A. Hogi a Co ) Bd Asked, . -- L t Bice Argentine Construction Begun at Sunshine Property report atJtee: On the 800 we picked up the ore 5c 4? feitn-ft- vtt 800-fo- Important Strike Made at Tonopah Divide 104. 80c. 8e.t th won. Optimism prevail in the Divide Mine as a result of the rich strike on the level of the Tonopah Divide and steady Improvement of ore conditions in the Brougher, Gold Zone, Victory, Alto, East Divide, Silver and other properties area of the district. The Mine innewtheveincentral on the 800 level of Tonopah Divide is reported to average $100 to TONOPAH, Nev., Deo. ft. A new ore $200 per ton and conclusively proves per hoot, which probably lg thn most Im- sistent character of the veins of "the portant yet found in th min, has been field. opened up on the 800 level of the Tonopah Divide mine, according to a report Issued Mill by Superintendent William Waters. The 110-fo- 3c. lr gold-copp- er 300-fo- 'copper Industry waa virtually the first to effect 6f adjustment. It 'sh&uld feel be among the first to recover. "The copper Industry haa a good perspective. Today It la In a position where a sustained buying demand would dissipate .stocks on hand In a comparatively short time and result In consumption running well ahead of production. There Is a big potential demand from publfc utility, telegraph and telephone companies. Industry and commerce the world over must adopt electricity to conserve fuel. "Continental European countries will, In all probability, adopt extensive programs for hydroelectric development This will call for large quantities of copper. On account of the exchange situation foreign buyers are only taking what copper they must have, and because of this condition and the general lack of work fund available reconstruction abroad since the war has been greatly limited. , "For what work has been don quantities of war scrap copper and brass have been utilised, but this source of supply will soon be exhausted. A real era of reconstruction must Inevitably occur, and will rerebuilding and new construction quire great quantities of copper and brass In this country, also, primarily due to th high cost of labor and materials, there has been little new construction th' 300-fo- ot Vacuum !c. ' "Organised to Herr Public" ..... ....... ...... ....... Victor Con Victor Mining Whirlwind A et Toledo Walker Mining Wood lawn gad - .84 .02 .824 .00 tah .62 .50 .ot4 Colon .084 .004 Tecoma I .00 .06 .05 .05 . - 00 .00 Tar Baby Ttutic Ceulral Tintlc Standard . , . ot e .72 .30 .81 .27 .80 Sioux Min a Swansea Ou V, Bam Con 1400-fo- .05 .10 .004 8vndtcate Silver King Coaln . ... ftllrer King Con ...... ncie - 600-fo- .00 Hell V 700-fo- ot 800-fo- Argentine Reeds Peak Rico Wellington South Standard I de 400-fo- ot ot .06 .... South Hecia Silver Shield South Hecia Ext Secret fcmth Park e. pr .02 Con Howell ot November 25. Thanksgiving Thursday, day and It ran from $24 to $414 per ton, when It fell down for a few to $27 .11 ton. In the next few daysdays .01 it from $200 to $285, and yesterdays ranged .03 (Wed.05 nesdays) assays across the face averaged .30 a little better than $100 per ton over .01 the full four-foface. JVe do not know .07 the width; we have only been following .08 along one well, and have not yet reached .02 the end of the ore shoot. We have drift.01 ed on It .forty feet, and have found the .004 ore changed to a quarts and silica forma.02 tion, entirely different from the soft rock .07 on the levels. upper .11 MThe ore is a sulphide, and was en.10 countered about seventy feet southeast.05 .06 erly from the main crosscut on the .11 level. It is a new ore shoot alto.01 gether, as we never nad any ore at this .25 particular place in the mine on the levels .01 above, proving it to be an absolutely new .20 shoot. At this time we are out about 8.W 110 feet and have not got to the end of .72 the shoot, and do not know anything .02 bout the values that we have been set.16 ting in the forty feet of drifting that haa .08 taken place. .03 On the 1 level the values are .01 coming in. We got $6.85 per ton across the face yesterday, and we are onlv fortv .02 .024 feet aaay from the southeast drift .01 will probably have to go or fortv .04 feet farther to get under thirty th oic shoots .or that we have developed on the 800. 1. 00 4.25 Antelope Lily Eureka Bullion ....... Gold Chain ... Great Western ........ Hamburg Mines ...... Iron 1.20 .03 .00 4 .07 2.50 4.40 ..... Knreka Homs Run Iron Blossom Indian Queen ..A.. .03 1.15 ........ Tlnto .05 .03 .00 .82 .00 Emma .Silver Empire Mines ........ Empire Copper Eastern Prince ....... . Emerald Eureka Mines East Crown Point .... Kant Tintlc Coaln .... East .084 .004 .01 .024 .014 ......... Con Demijohn .56 .oo .00 Copper State Metal Out Eureka Cedar Jail Colb Kexali Colorado ('on ('roan Point Cardiff .... Cnrff Cottonwood King Carrie Silver Lead Daly .... Daly West Dragon ore,-whic- h level reserves from which. It Is .024 said, ore can be shipped steadily for sev.05 eral months at the rate of 100 tons per .03 day. .00 .13 .024 Bullion Holey SUvdr Benton Bn UIH Big Cot Coaln Bay Black (Asked. .12 Provo Rico A Liberty Bell Bank ed 300-fo- ot 150-fo- ot ....... . deep-seat- ot Bid. fDRK, Dm, ft. Iron Nominal; No, 1 .... imrtbern, $38.00; No. 2 northern, $35.00; No. 2 Leonora Logger srathern, $33 00. Mammoth Tin Steady; apot and nearby! $35.50:36.00. Miller HIU ' future. $37tW37 25 May. Day &. 87. Antimony $3. Miehlgan-Ctamet Other ala unchanged. New Quincy Neva .... LONDON, Dec. ft Standard copper apot, North Standard 78 J7 ftd; electrolytic. 228 5a; Nichole 90;. Tin, Tin Con 31 10. leaft. 26; sine Opohougo Original Bannock I SILVER MARKET. Phitus .... Coo Prince NEW TORE, Dec. ailver domestic, Paioma Sqrhanged; foreign, 60c. Bristol Ploche Maxican dollar, 46e. Price Mining NEW GOLDFIELD, Nev, Dee.' I. DevelopExcellent condition prevz.iL at the Western Utah Copper company' prop- ment of the mala or body to a depth alaaklte erty In th Deep Creek district, second- of 110 feet In the ing to a report from Gold. Hill. From by the Spearhead company has Instilled to forty men are steadily em- a new spirit of optimism in Goldfield. thirty-fiv- e ployed at the mine, and from liO to 200 The vein is reported to average eight ton of fluxing ore, with eome silver-lea- d feet wide with th or sampling better than 310 per ton in gold. Th discovery value, are being shipped.' remarks the most important development Jlfost gratifying developments. It t chronicled in th alasklt and demported, ar resulting from the work belevel east of the onstrate that th or bodie of th dising dons on th shaft. Here, at a distance of 300 feet from trict persist beyond the barren shale intrusion. the shaft, about thirty feet of The Spearhead strike has stimulated Carrie per ton an excess of iron, four to five ounces of silver and from 4 to 6 Interest In the plan of th Goldfield per cent lead, has been opened up and Deep Mine Co., engaged In sinking a 2400-fovertical shaft with the purdrifted upon for a distance of 100 feet at the Western pose of opening the marvelous Florenoe-Goldfiel- d The mineralization Consolidated vein in th alss-kttUtah mine occurs In a marbletzed lime Above the shale this or channel contact. On along a the surface the ore shoot is reported to has produced In excess of $150,000,000 In have been exposed for a width of fifty gold and Is expected by the Deep Mines charfeet and for a distance of 400 feet along engineers to recover Its high-graacteristics In th alasktte. Th giant the strike of the contact. On the level mineralization has been found ore body cuts through the shale to its to be persistent for a distance of 500 Junction with the alaaklte, hut the sterile shale deprived the ore of commercial feet, with an average width of twenty-fiv- e feet. Both faces ar still said to be In values. . Sinking of th shaft has been temore. To explore the mineralization at depth porarily stopped by a strike of the hoistalong the contact the shaft has Men sunk ing engineers, who are seeking to ento the level and drifting started force a demand for an advance in wages-o$1 per day.- The shaft men first went east. It Is thought that about 950 feet of crosscutting will, bring the drift to the on strike for a scale of $7, but were shoot which has .proved to be so extenquickly defeated by the management. The engineers are Well organized, but sively mineralized from the surface-- -down tlenerai 'Manager A. I. t?Arcy expects to th level, to win out for the company and to be no ore to the time sulphide Up present has been encountered In exploration, en- in a position in the near future to re ume with a full force. The attitude of In the employ of the company gineer believe that the sulphide zone will not be the strikers is keenly resented in Goldentered until a point below the bed of the field, as It is the general opinion that old lake is reached, which will be about the efforts of the company to rejuvenate level. the As all of the ore so the district should be encouraged and not far encountered has been thoroughly oxi- halted by exorbitant labor demand. Goldfield Development has established It Is dized, expected that In the sulphide zone considerable enrichment will be an excellent camp- at its Gold Hill group and is vigorously sinking the deep shaft. found to exist. . .StopIna-ofK ExreUer. "orur'fi r,8frow1 ng" aT work" ad three levels- - has beguH new glory hole on the surface, which has vances and the management expects the a fifty-foIn the new raise on thz Gold Hill to develop Into one of the face, level and on the level. great producers of Nevada. In addition to the raises put up between The giant ore body is from 17 to 40 the 150 and the level, another feet wide, with the gold content steadraise Is being driven to open up In the ily increasing as additional depth is 1 Activity on the ftBalt Lake stock End mining exchanges totaling .31,250 shares valued at $6766.50, lacked any decided feature. In general the cheap stocks held firm at the closing prices of the preceding day, while the higher priced stocks were stronger. On the strength of the report that mine conditions at the Sliver King Coalition had improved, this stock showed a firmer front and traded at $1.75 for 300 shares. Tintlc Standard was also Ip better condition, with 400 sales made at $3.75. Stiver King Consolidated sold at $1 024 for 100 shares. ' Silver Shield w& decidedly stronger. A total of 3000 shares of this stock was sold around 33c( which marks a five-ceimprovement In the last two days. Colunibue-Rexall, during the past few days, lost some strength. Yes tor day the price receded to 31 fce for the sale of 2600 share a 200 South Hecia, with shares at 60c, made another deckled recession. -- Other Cottonwood stocks were rathef inactive. Price fell off from lV6c to 1c. Bells continued to trade at 134c, Wood-law- n sold at 9c and Emma at With 10,000 sales made Eureka Bui lion dosed at the preceding days price, 10c, Eureka Mines continued to strengthen. On trading of. 1600 shares, this stock closed at 8c. Among the Park City Issues, New around Quimcy, with 4000 sales made 4 Hi was the most active. Fifty, shares and. 100 Keystone at 70c. Quotations follow; Kaat Fnelwngf-d- Franca Dematid, 5,ft5c; rahle. 8 7e, ft 20c. Demand. tLIHe; cable j ftrifian franc Demand. I (iniidcr 80.3.V: cable. 80 43c. Lire Demand, 8.51c: cables, 8.33c. Mark Demand, 1 82c; cable. 1.33c. recce I Demand, 7.45 drachma for a dollar, Yortl exchange os Montreal 13 71ft per tew cent dlacount. Time loana Firm, unchanged. Fall money Steady, unchanged. I Sterling advanced In the late dealing; demand, 88.4414; cable, $3.45. i Few Changes in Price Made Among Low Price Issues; King Coalition Stronger. ........ MONEY. FISHERMANS LUCK 135414e ,, Lm4 (Vow York) gprttor (St. low)... 8ilror (la LmdomJ Another EUREKA. Nev Dec. of four cars of ore has been completed at the Eureka Croesus and the bins at the mine are holding more than this quantity for tSe current weeks shipments, From the amounts of ore now on and broken the underground, ' threegurfai'e weeks' work for the teams that are to the railway hauling from the mltae station is assured. ' The "Shale raise," which was started last fummer from a drift running from level to the contact of the the Jlamburg limestone shale on the Dunder-ber- g claim. Is about ISO feet above- - this level. Several masses of fine ore have been found, either along the contact or In the limestone adjacent. There is yet a considerable distance above the top of ' the raise to be the old before explored stopes are reached. Drifts will be driven both north and south along the contact to open new ground. The contact of the shale and limestone is nearly vertical, the sedimentary rocka In this 'portion of the district having been turned at an angle of about DO degrees at the time the Eureka mountains were formed. Short, horizontal slips occur frequently and it Is along these ' tnat some of the best ore bodies are found. At the top of the shale raise yesterday an, ore body twelve feet long and seven fees high a as showing, all of which will go.bouer thah $60 per ton. A drift Will be rufi along the xjontaet at this " point fo north connect with the oM workings and Issure plenty of air for further development. No. 8 wlnse Is now down eighty feet, with drifts north and south at seventy feet. In depth, corresponding to 470 feet in 4he main shaft. The fissure on which this winze was sunk is called the North-Sout- h fissure, and Is the main fault In th Croesus property. Good ore Is being tjUen out hi the north drift from this winze, while the south drift is in excellently mineralised Umestrinp god. TOM The gold content in the Croesus ore Is For the first improving with depth. eleven months of 19?0 the total ship metits of ore from this mine averaged 1 44 ounces In gold, or $29.71 per ton. Silver contents are also holding as high as ever. The precious metal values recovered a fe making up largely for the " loss Incurred In the, lower prices for the lead In tlje ore. The cutting of the station at the 500 foot level Cthe Ruby H1H mine has been completed, and the sinking of the main shaft continues. It Is now some thirty-fiv- e feet belopr the 500. The shipments ore to the Utah smelters of continue. The new mill building Is now Inclosed and the carpenter force Is engaged In putting In the windows, doors and par- tltlons. It is expected the mill will he completed Had ready for operation by January la next. The frdlowlng carload shipments of ore and spurn t tie Utah smelters have bean made over the local railroad this week: thx cars by the Eureka-Hollj Three cars by the Eureka-CroesTwenty-on- e cars of spelss by the GASOLINE ALLEY METALS. I i' 1 |