| Show I MINES AND MINING STOCKS IMPROVED TONE FElT AT BOSTON Further Advance in Metal in London Helps New York Brightens up a Bit B By Ba Badger lar Bros Private Wire Boston July 22 Boston market opened quiet bu but with an ln Improved tone r reflecting reflecting- n a further furtner advance ance In metal In London Toward noon quietness quIetness quiet quIet- ness began again alan continuing throughout through through- out the da day with a strong undertone In the past palt fortnight metal meta has nd- nd 4 10 lOe nearly nearl recovering Its break of ot 6 o of a month ago Well Informed people claim reaction in metal and copper shares Is over and ato ate ex extremely ox- ox optimistic a as to the general outlook Ho c Kenny Kenny Co New York ork JUl July 22 The The stock markot market market mar mar- ket kot responded to a l more optimistic feelIng feelIng feel- feel Ing lag today toda not only onh In London but hero where the fine line crops outlook Is 18 the leading factor Politics taking a rest and the chances of ot congress adjourning adjournIng adjourn adjourn- ing the first part of or August suggested higher prices The only bad feature was the coming of ot J. J 1 P. P Morgan and the knowledge of ot his position toward securities After an early carh advance In stocks there was a 8 liberal supply forthcoming forthcomIng forth forth- coming In leading speculative issues which checked the rise for the do day and after atter this period the market markot became became be be- came dull and saggy There re W was S no real weakness however In the lato ato dealings simply a 0 lack of or aggressive bullishness which caused the room to sell for or a n. turn Wo believe In the constructive side of ot the market and higher prices Swain New Ner York July 22 The The copper market market market mar mar- ket toda today was unchanged There was a. a little activity among some of the In Industrials industrials In- In principally United Cigar Stores Storo and the oil stocks Fay Pay I UTAH COPPERS COPPER'S JUNE OUTPUT LBS IBS June production of ot the U Utah Uh h Copper company was pounds compared compared com corn pared with pounds in May tray and pounds in June 1911 Production Pro Pro- of ot Nevada Neada Consolidated was pounds compared with pounds In May and pounds In June 1911 A record production in July I is anticipated Production of ot Utah Copper and Nevada Nevada Ne Ne- vada Consolidated compares as follows UTAH COPPER 1912 1911 January February March April 48 May June Juno Jul July August September 1 October November December NEY NEVADA ADA CONSOLIDATED I 1912 1911 January I. I February March arch April May June J July Jt August September O October tober li November December UTAH-APEX'S UTAH JUNE OUTPUT IS HEAVY Boston directors give Ive out that the Utah Apex Mining company during the months of April and May IMay was handicapped handicapped handi handi- capped In its operations by poor venti- venti 4 laUon In the and stones md a strike at tho I Murray smelter both of which were quite beyond the control of the com corn corni pany Tho The June tonnage was only a a. short of ot a record months month's output The price of lead lend is advancing being quoted now DOW at cen cents as against a low Jow price of 4 cents early last winter Notwithstanding the mentioned above handicaps In April and May the company com corn pany panr showed net profits of ot about 17 11 For the fourteen months ended July I I 1 1 the net profits of ot the company compan were i in round figures These profits have boon been applied to a reduction reduce tion In floating Indebtedness and a n avery very cry substantial reduction in tho the bon bonds s out out- J standing so eo that today the company compan I la free from all aU floating debt and has haq 1 substantially over cash in tho bank tank The bonded debt has haa now been beon i reduced to about I BIG COTTON COTTONWOOD WOOD ADIT NOW IN FEET It Is reported that the adit of ot the Alta Tunnel and Transportation company com coin pany Jany Is now in feet It starts In Silver Fork in Big Cottonwood canyon can- can canyon yon where the tho company compan owns acres and 2000 feet ahead of ot the present face faco It- It From there thoro the work may Y be bo extended p toward the Alta district where it should cut about feet under the ther r workings 8 of ot Michigan PRINCE FINDS MORE I GALENA IN IRON ORE OREt t t. t It was given out yesterday that Prince Consolidated has hu mn made e important tant tont finds In two places between the tho I OO MId and levels 10 whore the extrac tion of ot ore is being made Galena is h appearing in the iron ores Some Somo enL cn- cn L 1 are of ot the Opinion that this I I heavy iron capping will HI be found to tc cover large ore bodies making in the sulphide zone ona below the water level Jevel OR ORE DUE AT SAMPLERS Seven carloads of ot ore from Uta Utah 1 w p mInes mines and and ono one from Nevada were re roo I ported at the Utah Oro Ore Sampling com corn 7 pany yesterday U I OHIO COPPER COPPERAS I AS SEEN IN EAST June Earnings New Directors Will Make Good Neglected Sinking Fund Latest Information given out In In Inthe the tho east on Ohio Copper IB Is the following from the Boston Doston News Bureau Juno June not net earnings of or tho the Ohio Oho Copper com corn compan company pan pany approximated ted against In April Work rork on tho the third unit of ot the mill has been bean rushed so that b by August 1 the tho mana management has been counting upon Its Initial operation With this section running the plant will be able to handle tons of ot ore dally daily comparing com corn paring with 2000 tons at present Monthly production of or copper h has boa been running between and pounds W. W O. O Allison president of tho the National National Na Nn- Reserve bank of or New York has been elected president of ot tho the Ohio Copper Copper Copper Cop Cop- per Mining Ining company compan while John C. C Montgomery Montgomer has been chosen vice pres ident Stanley StanJe Gifford Gilford a director with F. F A. A Heinze of or the tho n W company was president of or the old corporation The mortgage now standing on the Ohio property will be assumed by the tho new now company compan One Ono of or the first steps stops to bo be taken will be bc to make mako good the default of due duo the sinking fund account last st year ear while a 0 similar amount must be provided for 1912 This sinking sinking- fund requirement will be bo cared for tor b by treasury bonds which will revert rc to the company compan after atter having been released as collateral against loans These loans will bo be liquidated through subscriptions to the new stock The Ohio mill mm is Js not doing satisfactory satisfactory tory work As a matter of fact tact the average n recovery er has ranged from SG 55 per cent to 60 per cent but It should be bo considered that the ore treated has been er very low grade averaging less than 1 Ii per cent copper It Is plainly stated elated that tho the rolls Installed b by Colonel Wall aU have not done dono the work claimed for them nor have Walls Wall's promises regarding his Inventions materialized ma ma- in actual operation No o de decision decision do- do has been r reached b by the management management man man- gement as to whether the rolls roUs will be retained A new superintendent will probably be bo named shortly to take charge Ge of ot the milling operations GOLD CHAIN HAS lARGE ORE BOOt BODY I I J I I Splendid Conditions at go Dragon Iron Blossom and Beck Tunnel Excellent conditions at Gold Chain Iron I rozi Blossom Dragon Consolidated and B Deck Beck eck Tunnel are sized up p as follows b by y E E. C. C Davies of the firm of or W. W H. H Child C hild Co after three days spent down I in n Tintic district Mr Davies Davlos says Sos he found a a. great big strong trong s fissure on the 1000 level of or Gold C Chain hain and it is still going down strong O On n the level he found the drifts had r run un In first class shipping ore oro for a L dis dis- t tance tanco anco of at eighty feet A ninety foot r raise aise had been sent u ul up from this level le all a ll in ore and ore st still 11 showed in theop the tho t top op of tho the raise Near lear this tills point a 5 foot Coot has been beon sunk this too too sn s showing howing ore all the way WHY down this n making st this Gold Gol Chain oro ore body one of t tho he Important ones in that part of ot tho c camp amp On the level recent develop develop- m ments have hae encountered some ore and tb t the he indications are aro that this is Js the same samo b bod body as found on the tho lower levels 10 from w which at present a a. weekly production o of or f to ions tons ons is Ja being made Mr Davies did not have time Limo to go o over ver to but heard splendid r reports from there and saw mine cars f filled with a fine tine quality of ore coming into i the main Gold Chain shaft shott for tor h hoisting to the surface Iron Blossom is installing a large Jarge hoisting h machine on the No 1 work work- I ings where the main shaft reaches to t the tho level love The mine its la maintaining its i ts regular production now of ot about 36 35 c cars ars rs a n. week The Tho Governor ground of the tho Dragon C Consolidated is opening up in splendid s shape hape on the level from Iron Blos Bios s som om The oro ore has been followed feet teet f on this level and two 1 raises have been b een sent up one sixty and the other e eighty feet teet In places the ore chand chan chan- nel n d Is la ten ton feet wide Some of this ore r runs uns from 40 to 60 a ton Tho The raises s show how this high character of ore Work Vork is n now ow going on in the old Star ground of ot Dragon and with good results on the tho 6 00 This is proving the continuity of th t tho he ore It is estimated that Dragon h has hM ts as approximately feet of ot the s south extension of the Iron Blossom ore c cb channel hannel But the thing which looked b best est to mo me perhaps next to the f ff feet extension said Mr Davies Davlos Is the fp f fact act that tho thu ore is growing richer as progress p is made along the ore chan chan- chane n nel el and not only that but tho the evidence I o on n every ery hand is that the ore oro is going d down own oven below the level Deck Beck Tunnel has recently struck s some ome ore oro on the foot loot level IO in a drift t to o tho the southwest It is 18 thought to bo be a an n extension of the old Humbug ore b botI body ody and shows copper values s. s The rhe people out at Tintic are feeling good concluded Mr Ir Davies Davlos The carn camp is s pro producing heavily metals are at top n notch and the outlook was probably never more moro favorable OIL MEN SPEND DAY IN VERNAL FIELD Joseph head driller in the dIe Colo Cole oil oU field and tIe 88 rs J 7 T. T fall Taff and Philip Henr Henry both of ol the same amo company spent a day in the Vernal Vernol oil field fleM this thle week says the Vernal Express The gentlemen came cam In in by way of ot Watson in their private car ear They arc are returning from the oil camps of California The They drove out on or L U tile the e state rond road to the property of ot the I Uintah Development company and ond later down to Dog valley where Manager W W. E. E Reed has his rigs 1 pounding awa away toward tot tho the oil sands The gentlemen I seemed well Impressed with the out out- look for tor oil in the tho Vernal Vernol countr country NO O CALL WEDNESDAY 1 ACCOUNT PIONEER DA DAOn DAY DAYOn On account of ot Jul July 24 Wednesday being Pioneer day there will be no call cal i at Lt tho Salt Lake Lako stock and mining ex cx exchange ex- ex change hange and tho the brokers will re rest relt t their 1 vocal organs for tor twenty four hours ex ex- tra rn I rl p 4 4 4 ORES OllES 4 A. A AND D BULLION 44 4 4 4 4 4 Smelter settlements r y yesterday 1 4 4 reported b by McCornick Co f 4 Ores bullion f 4 4 4 Silver was wag quoted at 60 c copper cop- cop copf f 4 per cathodes lead U. U S I 4 speller spelter New York f I I 4 4 4 4 4 4 44 t 4 4 4 4 U r. r Learning to select tho the worth answer 1 In Ing want ads is learning PRACTICAL LIFE in this town J I PRICES WEAK AND TRADING SCARCE Volume of Trading Is the Lightest on Board in Several Several Several Sev Sev- eral Months Business Bu lo s on tip the local mining exchange jester yester day dAj wa Win right down doen to b bedrock r Jr the b being eing lighter than In la meaT many mouths months and nd prices b buIll baring aying r. r tendency h where any trading et t tall all a ll could b b. b worked up Iron Blossom ei u continued at 10 Prier told sold at p sold cold down to U Union Chief t at New ew York down to 2 cents and United c came ads slon with shares harn at t 1 cent a s share hare The nIe att afternoon bid on 00 Ohio Obio Copper Will was 22 n nc sc c cent only Sales Sale for tor th Ste day doy amounted to shares hans veined rained at st 1197 Official closing quotations y T esterday w were re as III follows Forenoon Afternoon I Ii Bid I A Ask Alk k Bid I A M. M It t. t B. B Tunnel Tinnel 09 11 n 09 Dig Big 10 10 I B. B I. I Amalgamated OG i On 07 10 flack Black Jack Jsck 13 19 14 17 Ill Cerise 10 10 C C. C Talisman 02 w O 02 o 02 C. C Mammoth 10 10 Cob Colo Mining 17 13 17 19 Col C n n. n 4 12 Con Mercur Ie ur 07 67 7 Crown CroWD Point 02 02 I- I 02 OZ 02 re 1 Daly aly SO 0 90 Daly Judge flOO OG Dragon on 2 2 Has Eastern torn Prince Prince Oll 01 0 OS Oi 02 O 04 M 1 E. E C. C Point OO E. E T. T Con OO 00 OO 01 E. E T. T Der DeT QI 0 0 OO 01 Emerald Cj 01 07 01 Chain 31 31 n 33 31 13 Grand C Central otral 55 55 51 50 51 60 I Indian Queen QueenI 01 00 Oil On 01 Gl Gi I II I. I t. 1 15 25 10 1 Iron I ron KinK 01 OO 6 05 03 J Joe Dowen oo re 02 00 0 02 OZ Keystone J 12 16 KIm Kins Wm 03 i 01 03 01 04 0 I Leal d King J 02 02 10 02 J 10 Lebi rintie 00 00 01 00 01 Hill ro 04 H 03 04 E LIttle Bell Bell 35 40 31 37 L. L Mammoth 03 OO 03 ce 00 6 03 Mammoth 70 91 10 0 35 95 S Masonic 25 Mason f wn Valley tolley 1325 1300 1400 May laJ Day 12 13 13 4 U 13 MIn lIn Flat ls t 01 c 01 Lake re 05 OS 0 3 ro 02 0 05 Ncr Ner 1 British 35 ti tic Nor c lIlli seo 60 2024 02 2 New ew York 02 03 00 02 OZ 02 Ohio Cop 22 35 o U 16 15 13 H I 1 10 10 1014 10 10 P. P Metals etA 02 03 02 03 01 Idaho Pitt-Idaho ho 1 IS 25 1 07 On 06 On Prince C Con n. n IGi 10 1 5 Provo ll MA Rich fc Ana toa 09 69 IO 10 01 03 01 03 02 I SeT e o 02 03 4 02 03 02 S S. S K g 27 00 S 8 S. K Con CoD 10 04 98 10 1024 2 P Shield Id 01 02 01 O 02 S Sioux Con 6 04 o 16 06 4 04 H 05 06 i S So o I. I Blossom 00 wu I coti S Swansea Con Coo 07 07 T TU Central Cotral 02 O TU U United Tintie 00 oo 01 00 01 U Undo Sam Bam W 20 0 23 20 25 U Utah tb t-tb Con Coo 0 02 t 03 c t UV U Union nion Chief i 1 13 13 11 13 V Victor ictor Con O 04 CO 16 04 N 05 V VW Victoria ictoria Con K M G M 05 66 65 60 W Wilbert ilbert U 1514 IT 17 18 W Abash s 05 Y Coo lor H Y Yer er Copper 16 0 OS OSK 08 OS 09 00 A Addle I O OOH FORENOON SALES am Amalgamated at Tc ie 25 at Tic iC c. c Iron too 00 at 10 L Lion Ln n Hill 1000 2000 at 31 e. e o 1300 at 1 Itc IE lEOO 1100 at l lc lOCK at c Prince Con at OPEN OPE BOARD 00 at st lC c at lIe Wilbert at 19 c Shares Shuts sold sellin selling Belling yams Al SALES SAIlS Lower Mammoth US 65 at Sc Ic c. c Now 0 York at Ic Prince Cot Con at Union Chief 1000 at lIe lk OPEN BOARD DOARD Prince Con at n. n 71 Lion Ulli 1000 at 3 c United T at Ic le Scares sold sold Bold 3 selling STOCKS Sales Sains on curb yesterday amounted to a total I o of or f 2550 shares Alta Consolidated sold thet the l argest nl number C IN 1100 at Ste and n OSe Thompson Thompson- s sat Quincy t n iOCO 1000 at t and d c South SOC A nt at t lie Se and nod 1 lIe and Dragon Coo Con 50 at B c. c Closing curb quotations yesterday were veer as fol l lows Bid Ask I Alta Alt Con 65 New Yer 18 p Ole 10 12 So loch II ecla Jj H 16 1 B. B 0 O. Stand 14 11 16 Drag Drill Coo Con 38 36 37 Fed red Ely EIT 03 04 Cardiff 34 34 21 U. U M. |
