OCR Text |
Show WESTERN MINERAL SURVEY, SALT LAKE CITY. UTAH. the test well Is bottomed below 1.-fast, good shewing of ell and ballaved to bo right on top of find sand; tho sooond sand will be found at about 1,800 fast, and ths main sand. Pennsylvania, at about 1,400 fast. Dog Valley structure, Spahr No. Metal Quotations Sustain Drastic Downward Revisions Buyers' Boycott and Credit Conditions Causes Copper to Break Five Poin ts; Movement of Lead Slackens; Zinc and Silver Sluggish. (From the Engineering and Mining Journal) NEW YORK The nonferrous metals bull market suffered a sharp relapse during the past week- - Featured by the decline in copper prices, which amounted to nearly 5 cents per pound, the list in general showed a strong downward tendency. Lead prices closed the week 0.6 cents per pound below the level of a week ago. Zinc prices subsided cent per pound, and tin was off more than 2 cents nearly per pound. Speculative declined in London metal exchange quotations, and the considerable disturbance of domestic business by the unsettled situation in the securities markets, The necessity for ths riiatom 1-- 4 ameltara to Mil a rnujna.blc proportion of Ihrlr dally intake of responsible copper waa directly for tho drastic break In copper prices recorded during the last week. Though thla cundiliun la to the direct responsibility, it wav the continued absence of demand occasioned by the unaetlled credit conditlone In Wall street and a general feeling that the copper price atructurc had become that made thla elluaiion Only one sale waa made at tha producers 14 cent price during the week. Shading of Him price by primary sellcra began on April 5, and became inrreaaingly prevalent as each day passed. Today tup-hea- y. the market appears fairly ID well ccnta per pound bottomed at delivered Connecticut basis, and a has large tonnage changed hands at that level of which nearly all has been fur August delivery. Utort Trade Slump. Business In the export market has been virtually nonexistent no far this month. In fact several Important European interests endeavored to resell cornier in this country at 31 1 to 33 3 cents par pound several times befort the general break in prlrea look place. Copper Exporters. Inc., maintains Its price of 34 8 cents per pound, usual European destinations, although offerings of the custom meltera have been made through tho association at considerable reductions below that level. lust week Opinions prpvailipg had been that a period of Inactive demand might be expected until tha release of the March statistics late thla week which are expected lo be decidedly favorable tu producers. However, It appears that the position of the custom smelters became so acute with the continued day by day accumulation of copper at top prices without anything liko equivalent sales, that their decision to shade prices was forced by the financial aspect of (he situation. A few of the producers are remaining out of the market and completely maintaining a nominal So oent quotation. Sales during tha week have not been confined entirely to tha custom smelters, however, and some market factors contend that It would not be surprising to ace tha Copper Exporters' price reduced to the level of the general market In few days. Weekly average copper 11.144. Zina Trade black. 1- Business in sine lisa been ex- tremely quiet during ths iwst week and a tendency toward lower preen hna resulted In n large tonnage changing hands at 7.10 cents per pound today, compared with 7.10 cents per pound a week ago. Them Is little change In the statistical position or sine and the decline appears to be occasioned largely out of sympathy with ths general market decline. Iellvery In the third quarter of 193 has been specified on a considerable proportion cf the works business. Weekly average. 8t. Louis sins. 0.T04. Demand for Lead Less. Tha bearish tano.icy in the copper market had a sympathetic effect on lead, which. hna declined over half a cent in ths last week. On Thursday. April 4. the American Smelting and Defining company cut Jta Now York price from 7 4 to 7 3 cents; on Monday. April 8, a further reduction to 7 cents wae mads and today tho quotations was marked down to 7.18 cents. Other sellers generally quoted equlralsnt prices, but 1-- 1-- 14 hardly enough lias beau sold on some daya tu calabllah a price, either In the east or middle west. It is generally believed that ths recent advance which emanated from London, was purely of a speculative nature and that the dcclln: this week waa only an afti'nimh. Certainly no new weak factor la in evidence In the fundamental situation. except that the recent break in the atock market liaa seriously effected new business of all kinds, the lead Industries being no exception. All of the April production of the country probably has been sold, ao there is no pressure on the market. 'His price reduction la purely a matter of bringing domestic prices In line with London palty. The M excan situation Is expected to clear up considerably by tho end of tha month, ao that alilpmenta of ore and fuel to the smelters, of bul- lion to the refineries, and of refined Irad for export should show a marked Improvement in May. In the meantime, however, mliv.-- , smeller and refinery production and shipments will be aerluualy affected with some plants closing down entirely. Weekly average. New York lead 7.838; Bt. Louis lead. 7.217. Tin Takes Drop, Th London group that has supported the tin market for some time has been content to let prices drop off a little more, in view of tha weakness In tha other metals, so that prices have been around 44 cents for the last two days. Tlio drop yesterday stimulated a good demand from much of which waa for consiimera, May shipment. AM deliveries are quoted at about tha same price. Weekly average, Straits tin. 47.14. La Costc & Co. lolte Bestoa Bldg, 311-1- 13 gait Lake Wasatch 8871. Cewaalt os eeaeeralag investments. Ws radio (ha stark market each night at Si4S aver KIL. Phene Write L Wire LA COSTE & CO. Ceneervatlre Brokerage Hesse CLAIM MAP EAST IARK CITY DISTRICT Heavy Bound Paper 20 in. x 15 in. FOR SALE 1 EACH Western Mineral Survey Room 111, Atlas Block alt Lake City. DOOLY BLOCK 4ALT LAKE CITY lleadqaarters lain ('em Males(orsad Hlalsg Machinery llaasea Ml table Offices Fey Heat 50 Utah Southern Oil Oompany-Uta- h Frank Refining Company Shafer No. 1. Cano Creek dome, section discovery well of lloab district Shut In. ooetlon John L Shafer No. ths first flank well on Cano Crook dome, half a mile north of discovery well, Bottomed In llmsly ohala at 8.006 fast. Temporarily dosed down until string of I 4 Inch casing can bo moved to location. This will bs run to bottom tc shut out water before drilling deeper. King No. 1, Salt Valley, anticline, section Drilling below 3,400 feet in Hit. King No. 1. Salt Valley, anticline, sertton Drilling below 1430 feet In limestone. Oil 1-- Oil Syndicate McCardome, near thy No. 1 well. Crescent $25,000 of Company Thompson on ground Including equipment30 new Star rig and drilling lines. Highly experienced crew under the direction of Bupt. Nash making hole below 1.400 feet, according to official report from field. Caving formation has delayed Pr4t Bailer on each trip somewhat. strong showings of oil brlnge upTen-Inch casing bottomed and gaa. around 1 .605 feet. Hols In perfect condition- - Officials expect speedy reeulte and Important developments In Ferron sand Just below Published monthly. Sent free OBLIGATION. fob gold HABinPACTTBIBG. says James H. ideal Mill Construction Engineer, in his report sa tbs Star of Utah 1 for six months. NO . Westbrook-Thompso- n Monarch Royalty and many others USE THE COUPON BELOW ssnattrsis: me, and myaalf, estimated tha Uhls or should, la l,i lots, recover MAS per proposition, shovel easily and cheaply hanit Js'astiarn mash pulp, a high extraction Is easily mode. dled and upon ! river of water running past ths Plenty of fine timber, a goodmade for OOLD MANUFACTURING- Ideally cliffs of ore; mlnee and mills, being fat yelr? In my with the Homeetaka in both mining and milling practices li VBE THE COUrOH BELOW exencTin Western Crude Oil Company Tsntativa location for well on Cisco Springs structure, ten miles north of Cisco town, has been selected. Preparing to move In National rig. Ute Gold Mining Mayflower Mines Bonanza Gold ARRIBA GOLD HELDS, Ltd. Kamp and Company M Dee bam Bldg. am convinced. are equal to. and nags exposed. The values UOMEHTAKK. GREATER. than the mill-heet to keep a ten qufrit-ianla Thera tonnage above thousand ton null in operation for more than 300 years." Arriba Gold Fields has forty square mile of holdings with billions of tone of ore. Preliminary aur-vran estimated forty-fou- r have been made for tha mill, The ore is now being tested In a special built Mill in Denver. Subject to our limited supply this stork can be porehased at 75 cents per share, par value $1.00. Make all orders to DEMVEB. COLO, KAMP AMD COMPANY, A3 Deebam SUs, Denver, Cels, IMS lists Pleas seed ms yens Hastily Mining A Oil Digest far eta d, Oil Rig Kls OH Company-Uta- h Grayson, No. 8. Grayson field, Refining Company Randall No. 1, Reagan County, Texas. Spudding In Crescent dome section Grayson No. 8 to drill to Big Lake Closed down at 1.710 feet. pay at 3,000 feet productive in two other wells of the company. CMmado-rta- h Oil Company Dickinson Da et waller No. 1, Neal Dome test, situated five milea County, Kansas. Rapid progress be- north of Vernal, being drilled by ing made. Drilling at 1210 feet on the Maude Ellen Oil company; Friday April I. data of last report. work has been delayed several days account of fishing Job. Tools reDiamond Oil Company. J. W. on covered after making some rape Ire, Musser. manager of Diamond Oil that tho steel drilling will bo' resumed at ones; company, reports derrick has been erected at the new drilling spot In Diamond Fork canyon and much of tha company's As equipment is now at ths well. will conditions soon as weather will bs permit, the drilling rig moved. When this Is done, a new Crmrrnt Mining and OU Digest Gives reports and quotations on tomed on top of Bhlnarump sand at 8.140 fast. Still making strong anflow of wat gaa. Company nounces operations will ha resumed thH spring. Continental Oil Company Wall No 1, Boundary Butts structure, At last report section was drilling under 4,100 fast U Pennsylvanian limes, after encountering flow of wet gaa estimated In excess of flva million cubic fact. well will be spudded In on Section 24. 8 H, 6 K. A carload of material, Including a 350 barrel weter tank, 10 and 12 inch casing, and drilling tools, la being morrd to the new camp from Green River. Recent storms have delayed operatlone to d quite en extent. It le no wanllclpat-ethat a new well will be spudded In about May 1. Mr. Musser also reports that the lessees of the company's property at Virgin, are drilling a sevond well known as B No. 2. the depth being about 150 feet. The company e re-a finery ia being operated with high degree of aucceas. situated seven milaa muthwest of Vernal and being drilled by tha Wasters Venture corporation, la drilling day and sight below 800 fast. Small showing of oil and gaa. Tho main objective, Wasatch sand, lower Tertiary, will be found at about 1,700 feet. 1, ys swaths, tree et charge aad srltbeat any ebllgstlsa. e Kerns DAVID GARRETT & CO. Address INVESTMENT BANKERS Denham Bldg. Denver, Colo. (4ltilttllif4l((4l4ll8if8 M4a84tlSl 4O4ta080 14844888 f City MAP NORTH E AST TINTIC MINING DISTRICT wff' UTAH JUAB C0UNT1ES,UTAH Seals dividend GALENA 3 - I I This map shows the location of the big producing UTAH CORPORATION and paying mines like the Tin-ti- c Standard, Chief Consolidated, North drillLily, and the new Well Great which companies Salt Lake area near Roul. No Bad roads. Crew believed to be still fishing for lost tools. expect to get the exA. P. Swoboda Test Great Salt tension of the big Lake area near RomI. Shutdown awaiting installation of new boiler. ore zones that have Navajo - Petroleum Corporation Leaves For Coast section made these comNo- 1, Cisco dome, E. II. Snyder, manager of the Rtate A live showing of oil, Combined Metals Reduction comconsiderable gaa famous. accompanied by pany. left Thursday for Lea encountered this week panies Silver Atmied. Unaetlled conditions in China depressed silver during tho last week and the decline carried the New York priro down to 68 2 cents on April 5. the loaest level reached alnre October a, 137. the latter part of tho weekDuring a resumption of purchases by China resulted In a better undertone, and pricea have shown soma Improvement. the market today being quoted at 56 cents. Weekly average. 55.154. - Leonora-Radda- ts ra-po-rt. pretaure, waa when ths drill tapped the objective Ths sand waa merely and. Note the excepHAMILTON PROMOTED. scratched and ths well waa Imorawait BAN FRANCISCO Fletcher mediately closed down to favorable Is described tionally Hamilton, for ten yean state min- ders. The oil showingAnd indicate eralogist of California, and until re- as very encouraging of the production may location cently consulting mlnitig engineer that commercial ths drill peneand geologist for tho Royal Devel- be obtained when Minopment company, was.- at a recent trates further Into tha pay horlion. North Tintic meeting of ths board of directors of The depth Is around 8,540 treat. ths Royal, eleoted vies ing Companys propPhillips Petroleum Corporation and general manager of thopresident various Well 1. Barrier Creek dome, No erties, directly in mining operations of ths company, Bottomed at which Include tho lloyai Ulna at section bit. lost for Still feet. fishing Hudson, tho Tulloch Mina at Anare now spudding around line with the northgels Camp and tha Carlyle group Drillers to loaaen it. and have In bit attempt of mines, eight miles from Cisco, that drilling can h resumed easterly trend of all in California. Hamilton was hopes week. appointed in 124 by President by first of the district. North Harding to take charge of tho field Boulder Knoll OU and Gas Comhearing of the United States Sen- pany Endter No. 1. Boulder Knoll Tintic Mining Comate committee on gold and silver. structure, section Bot pany stock at 10 - Statement of the Ownership, Management, Circulation, Etc., Required by. the Act of Congress of August 24, 1912 of Western A Conservative Brokerage Hesse APRIL 12, 192. cents a share is a good buy. Mined Surrey Published Weekly At Balt Lake City, Utah, for April 1, 1839. (State of Utah, County of Balt La ke, ss. Before me. a Notary Public, 1 n and for th state and county aforesaid, personally appeared C. S. Goddard, who, having been to law, drp owe and aaye that he is the Busiduly sworn, ness Manageraccording of the Western Min eral Survey and that the following to the best of lila knowledge an d belief, a trap statement of the ownership, management (and if a dally report the circulation), etc., of the aforeHld publication for the date shown In ths abo- - caption, required by the Art of Augu et 24. 1913. embodied In section 411. Postal Laws and Regulations, printed on the revere of thla form tu wit: 1. That the names and addresses of th publisher, editor, managing editor and business managers are: Atlaa Publisher, Western Mineral Survey rubliahlng Co., Block. Editor Gan E. Martin. Managing Editor Gall E. Martin, Salt Lake City, Utah. Business Manager C. B. God dard. Salt Lake City. Utah. 3. That the owner Is: (If owned by a corporation. Us name and addreM must be stated and al so immediately thereunder the names and adresecs of stockholders owning or ona per cent or more of total amount of stock, if not ownedholding by a corporation, th names and addreaaes of the Individual owners must be given. If owned by a firm, company, or other unincorporated concern, ita name and address, as well ua those of each individual member, must be given. 1 Western Mineral Survey Publishing Co.. Ill Atlaa Block. C. H. Goddard Company. 123 Atlas Block. 3. That the known bondholders, mortgagees, and. other securltv holders owning cr holding I per cent or morn ur total amount of bunds, mortgages, or ther securities; (If there are none, so state.) None. 4. That th two paragraphs next above, giving ttm names of th owners, rtock holders, and security holders. If sny, contain not only tho list of stockholders and security holders aa they upon tha books of tho company, but also. In cases where theappear stockholder or holder bcoka tbs of th company as trusts or appears upon security in any other fiduciary relation, th name of the person or corporation for whom such trustee Is acting, is given; also that ths Hid two paragraphs contain statements embracing affiants full knowledge and belief as to tn circumstances and conditions under which stockholders and security holders who do not appear upon the hooka of the company as trustees, hold stock and securities In a rapacity other than that of a bona fide owner; and this affiant has no reason to believe that any other person, asHriatlon or corporation has any Interest direct cr indirect In the said stock, bonds, or other securl-tle- s than as so stated by him. . That the average number of copies of each Issue of this lication sold or distributed, through the mails or otherwise. to pubsubscribers during tn six months preceding the date shown abovepaid Is- (This Information is required from daily publications only.) C. B. GODDARD. (Signature of editor, publisher, business manager or owner.) Kworn tu and subscribed before me this IV day or April. 1939. tHAB. f'.. NORTON. (My commission expiree December 21, 1982, Notary Public Bee: Balt Laka City, Utah, i I, Ill ?' development at depth will develop the ami big ora bodies In U property of tbs North Ttntle Mining Company. NORTH TINTIC MINING COMPANY offers tha large and small Investor ths opportunity to participate In ths development of the North Tintic Mining district. INITIAL STOCK OFFERING 10 CENTS PROPERTIES 9A full mining claims AIL PATENTED 411 gregating a total of acres. ag- LOCATION rmpertlca of this company nrs located In tha Tlntlo Mining District of Utah, north of the Ttntle Standard Mining Company and tha North Lily Mining Company and Northeast of tho main workings of tha Chief Consolidated Mining Company and ia practically surrounded by Chief Consolidated ground. Lehl Tint! tnd Tintic. irs Immediately west of th North Tlntlo properties Empire and their stock is steadily advancing in pries by reason of now mins development. The properties of this company 11 In the north extewhich sr found th big oh bodies ?ne ndi the J,n Tlntlo "VVj Chief Consolidated suit North Lily Mine and (her KUwliril, Is ivory reason to believe that v'.tVn 409 feet driven a cross flMura A main shaft is being sunk at an advantageous point tween two north and south fissures and two east and west fissures w ith th view of cross cutting to then fissure with depth In tha (haft. be- Not so long ago you could have bought Ttntle Btandard. and North Lilly for in cents a share. They are now selling for 118.00 and llO.on respectively. North Tintic stock has all the ear marks of a big winner and why. . Consists of Xorth Tlntlo stock offers th large and small Investor DEVELOPMENT Consists of tunnel In to locate main fissure. Thla wilt enable th company to prospect four known th ahaft goea down. Owners of Utah Mining Blocks have realised many millions of dollars profit during tho past year, and a large District la which part of thlspeoflt was madeiln tha Tlntlo th North Tlntlo Mining Company Is now operating, and to believe that thla company will make thgra Is every reasonInvestors In Ita stock that has bean mad th hip money for In Tlntlo standard. North Lily. Eureka Bullion and Chief Consolidated. Fences do not cut out sxtanslnni of oh fissures and era bodies and three of tho best engineers and geologists have stated that In their Judgement tha North Tlntlo Mining Company has ths extension of th big on bodies that have mad Ui big mine just south of this company's property. I am offering n limited amount of this stock at 19 cants n share either for cash or on flva equal monthly payments. stocks nr selling In th open market Many Utah at twice to threemining limn th price you can North Tlntlo stork right now. without anything lik th buy real values from a mining standpoint, ths that North Tintic hac by reasou of large across- - and development so favorably located. fluures as Only a llmllrd amount of this cents n share and whan thla la sold th pries will advenes and continue to advene. stork Is available at 19 In 'the big mining exceptional opportunity to an, in Utah under th most favornoget circumstances. boom North Tlntlo owns Its 411 acres of patent'd property of all Indebtedness, with money In tne bank. for big production with development well un-way. under th management of well known and experienced mining men who havo tho confidence of tho publls 2r ?? iTT. known, and then la every reason to believe that north Tintic stock at 10 rents n share will make Investors big money and that quick. UF now while th price la io cents. It will cost you mors oon. and clear ith Ideally located JACK DOROM at 817 Atlaa Black. Salt Lake City. Ytak. TsL Waa. 7WT JACK DOEOSr, IT Atlas Stock Salt Lake City Find inclosed payment lu (full) (psrt) shirti of North Tlntlo Illnltif Company stock at 10 cents a share. If bought on tha flvt Payment plan will pay balance In four equal monthly Send full particulars with maps and engineers' payment fop report IS AlJdrtPS I |