| Show IL IC il MINES AND AND MINING NEWS N WS' WS I IN BUSINESS VIOLENT Supplies Replenished and Low Interest Rates In Indicate Indicate In- In r Little Demand York Jan 12 Replenishment of af money supplies went on last week v even even more rapidly than was expected The halting response of or stocks stock to this P favorable financial development was attributed at first to various arlous Isolated factors but Its persistence caused tho the t Influence that a R moro more l comprehensive Influence V was wais at work work work- f possibly some o e fear tear of ot a no check to trade activity 1 tP c- c The fall In all kinds of or Interest rates IWU was violent The conclusion was warranted that the expected strain of ot tho January set- set had been overestimated and preparation for tor It overdone Favorable I Inferences were drawn from the success sucu suc suc- u cess cesa s of or the he new capital Issues In pros- pros The dealings dealing In bonds at tho the stock exchange also broadened and expanded ex- ex with an upward tendency of oC prices prices bj IJ a Conclusion of the crop movement narks marks a a. normal reflux of ot money from circulation but the cash movement and the decline In Interest rates last week much more violent than Is 18 usual at t this time Tho The release of upwards of I freight cars In the two last weeks of lot tho the year ear establishing an Idle car surplus for the first time since September Septem- Septem Hber ber ber points to a rel relaxation Catlon of ot strain on traffic facilities of ot lIko suddenness to toM M the ith relaxed tension of ot the tho money IVono marl mar- mar l fket Increase of oC more than Impounds hOunds De-cember De pounds In refined copper stocks In De- De was Wn- another sign of contracted business Tho The supreme courts court's disapproval al of ot the fl Union Pacific dissolution plan had hadla la depressing effect erect The cotton corner n gave a n. widened scope to the Ole application of tho the antitrust law to toUy Uy speculative c market fir K Although the volume of ot new neVo business booked b by the steel mills mille last week was not hear heavy current orders were close to 60 per cent of ot mill mm c capacity and most 60 1 i of or tho the plants arc are too con congested ested with orders carried over from CrOIn last year to I f make mRle an active canvass for contracts k t involving delivery deliver before the first of ot Jul July j I contracts for equipment fewer were vere smaller IJa than for man many p weeks but the first of or January Januar there thero havo have been orders for cars engines and rand tons of ot rails ralls L Structural work on tho the Isthmus of ot Panama connected with the govern govern- ment t transportation line lne will call for tons of or structural mate- mate The Ur United te 1 States Slates Steel corporations corporation's December statement ju just t issued shows that now contracts exceeded shipments by tons On the first of the year pig Iron was being produced by byall byall byall all Interests 9 is at the tho rato rate or ot tons t i i annually I j. j I ICHINO'S CHINOS CHINO'S DECEMBER I l A OUTPUT IS GIVEN EN h r Tho The December output of or Chi Chino no waa WM 3 4 pounds which compares with r 1170 for tor November I.- I. TI The Tho monthly output compares as fol- fol lows Jows In pounds j January February i I. I March i April or 1 l Nay Jane July August l August O r. r SG October r 3 r November D December e cern b e l' l 3 Ii 0 I u- u F. F UTAH MEN LIEN IN ROCHESTER SUIT Paid Down 2000 on Deal Nevadan Deal Nevadan Then Crawfishes Utah men mon are vitally Interested in tho following mining litigation as stated In n the Winnemucca Star Suit was commenced In the district court this morning by Olson against F. F M. M r. r Schick The Tho suit Is In Instituted Instituted In- In to compel Mr Schlock to re return return return re- re turn to the plaintiff a power of attorney attorney attorney at at- torney to sell mining claims at Rochester Rochester Roch Roch- ester which the plaintiff asserts was obtained fraudulently The Tho complaint alleges that th the plaintiff was working on a a. ranch and grubstaking tho the defendant that de defendant defendant do- do fondant telephoned to plaintiff ono one day dap asking for tor power of ot attorney to sell his half Interest in three mining mining- claims claim at Rochester known a as the Weaver Weaver er No 1 and Weaver No 2 telling the plaintiff that he thought there was wasa a chance to get or for tor forthe forthe the property and that In case tho the op opportunity opportunity op- op to sell came the defendant wanted the tho power to sell without losIng losing losing los los- ing tho the time necessary to go to see seo his partner for tor his signature to the papers It is further alleged In the complaint that the partners called called upon a a. notary y public In Lovelock Lo for a a. blank power of ot attorney and that official having no blank advised nd that a quit claim mining deed would woula answer the purpose purpose pur pur- pose whereupon such Guch instrument was wa executed lAter Later the tho complaint al alleges alleges alleges al- al leges the tho plaintiff learned that A a. valuable alu ablo able strike had been made upon tho property prior to the exe execution of or the quit-claim quit deed making the property worth far tar more than or Plaintiff demanded tho the return of or tho the power of ot attorney which h was refused b by the defendant hence henc tho the suit Utah Men llen Suc Sue A sequel to the tho above Is a a. suit filed tiled In lit the district court this morning by M. M R. R Evans John T. T Hodson and W. W H. H Webber against F. F M. M r. r Schick the same samo property being Involved The Jho compla complain complaint nt alleges that an agreement was ma made mado between the plaintiffs and Schick whereby tho they a agreed to buy the Weaver Weaver No 1 and Weaver No 2 claims at Rochester tho the price to be paid being in Installments i that in accordance with the terms of or orthe orthe the agreement the plaintiffs deposited 2000 with the thc Lovelock Mercantile bank on December 30 It Is 18 further alleged by the plaintiffs that Schick refuses to deposit a deed In escrow with tho the bank accor to tho the terms of or tho the agreement and the Judgment Is asked that ho lie be he compelled to deposit the tho deed ee as NATIONAl MINES INCREASES FORCE Still Produces Quantities o oa of a t the le Immensely Rich c Stuff I IOther Other A Activities The National Mines Mines company IB Is working a a. larger force torce of men than employed b by tho the high grado rado company compan In months month This now force torce Is applied mainly in development and blocking of now new ore supplies les Of or course courso the tho large shipments of high grade e ore under un under under un- un der the direction of ot Manager l Taylor via tho the Winnemucca express office area aro are aroa a powerful evidence that this high grade deposit of Charleston hill Is a n. continuous thins thing for tor l di dividends ends and expense ex ex- expense pense revenue in conducing conducIng- tho the affairs of oC the tho mine The mino is producing quantities of Immensely rich ore ore and andI since tho the mill Is closed In the freezing I weather it is necessary to carry by br auto to market tike the richer ore taken en from tho the mine The Tho rich oro ore comes COInes from below and above the tho No 5 fi level which from point of ot Stall shaft gives the ore a depth of ot over foet foot Tho The company likewise Is 13 getting Its heavy hoisting machinery In place and when whelk placed the work of or sinking will be bc pushed forcefully I Tho Gen general ral showings of ot the National National National Na Na- section are most moat favorable and of oC a 3 further advanced nd sort than heretofore here here- This In particular applies to tl the tho National Mayflower 1 property and andIn andin andin in detail shows great Improvement on f both loth tho the workings which ire are being pro prosecuted h by bJ y d Manager Crawford and und N P P. P R. R Harch on his lease block arc arca a LL forecast of or a real big mine Tho Crawford workings at the tho deepest deepest deepest deep deep- est point are In a n. large well weB defined lend carr carrying through h a a. high class quartz which returns milling values alues tho the Hatch lease evidently some or JOO feet south has encountered the Fame carne lea lead This showing equally equall Illustrates illustrates illustrates Illus illus- the possibility of the tho Mayflower ler property At point of ot tho the Hatch workings work work- s ings the thc lead showings 8 quartz and carrying carrying car car- ar- ar values s of over 20 0 O per ton is simply of ot the mIne prospect order Tho The opening of ot this resource Is an evidence of ot tho the persistent effort erfort of Hatch latch and will if Jf continued mako o a abig abig big producer ONE-MAN ONE MACHINES BECOMING POPULAR Houston Largely Lar Largely as the tho result of ot the work of ot the newly-created newly d department department depart depart- ment of ot efficiency of or the Calumet Hecla Mining com company pan within two years ears the old two-man two drilling machines machines machines ma ma- chines will be supplanted in practically ever every r mine In tho the Lake Sup Superior dIstrIct district district dis dIs- dis- dis by the now new one-man one machines Tho Thu chan change e to tho the new type of ot machine is going ahead rapidly In nearly all the Calumet mines and In to n many others thIs winter Ninety t of tho the ono ono- man drills are now in operation In the Hecla mine proper While the gradual change has not been unusual attention It Is unquestionably of the Importance importance Im Im- im- im practically revolutionizing ground breaking With the new now equIpment equipment equipment equip equIp- ment one ono man does exactly the same work previously requiring two One bo boy Is la assigned to every four miners Tile Tho Introduction of Qt the one-man one machInes machines machines ma ma- chines Is certain to be a big factor In reducing costs SEVERAL SALES R REPORTED FROM CONTACT CAMP CAMPA A gentleman in Twin j s 's I who wile Is IB well informed on matters pertaining to Contact last Saturday Informed the Twin F Falls Chronicle several oral big sales of or property In the camp have o been consummated mated and earnest mone money amounting n nto to several thousand dollars posted with wit the Salt Lake Security Trust company company company com com- pany pending tho the signing of or th the tho papers by those concerned in tho the various transactions The properties Involved with tho purchase prices are as follows fol follows tot tot- lows Contact Copper Copper Shield Henr Henry A. A Smith group roup 62 claims Including McGIlvray group Zetta Zett Blanchard group Salt L. l Lake Lako o group Tile sales s have been mado made to Emil Meyer who has haa been negotiating for property In the camp for over a year car and who I la 15 said to represent Holland capitalists STRIKE NEAR OlD I II 1 W CAMP OF CHAFEY Samples Weighing Pounds Gave Assay Returns Returns' o of a Ton Tall T. T J J. J Williams arrived In town yesterday yes yes- afternoon and reports a a. new strike In tho The East range about twenty miles from Winnemucca and seven miles from tho the old town of Dun Glen Glon sa says s tho the Winnemucca Sliver Silver State The new discovery Is a rich one and gives every Indication of developing Into one 0 or of tho the lar largest est producer producers of ot the state Tho shaft is down on tho the oro ore twelve foot between perfect walls and shows the tho vein to be six feet wide A pound sample token taken across the entire six feet sent to tho the Haven Haron sampler sampler sam sam- m- m gave returns of ot to the ton Two feet of the quartz on the east or hanging wall wall the trend of ot the vain being north and south Is ia picture rock plentifully spattered with gold The strike was made mado by Taylor and I Leinse who are busily engaged at tho the present time in sinking their shaft shat on down and sacking J tho the oro ore as ns fast as they can take It out This is by no means a new district the thc Black Hole Auld Lang S Syne ne Gem and Auburn mines being close neighbors neIghbors neighbors neigh neIgh- bors and having yielded hundreds of or thousands of at dollars In gold geld The Black Hole Holo is still a producer being operated by II II H. C. C of ot Dun Glen At tho the present time tho the camp which Is Js appropriately p nam named d Sunshine numbers numbers num num- bers about thirty souls and Is fast In IncreasIng Increasing increasing In- In creasing In population There Thero are other properties of ot merit In the vicinity The he Battleship group of or claims owned b by W W. S. S OBrien O'Brien aro are particularly worth worthy of or mention being close to the strike and showing a a. strong strong- vein of ot quartz quart on the tho surface which carries good values alues Tho The owner has hns accomplished a about out feet of ot de development development development de- de work on this vein oln and al although although al- al though no very vary great depth has been attained every Indication points to its being permanent and anel rich Directly east of 0 this group lies the tho property of or Reid and Tills This has las been beon bonded to K C C. Cousins who Is is actively p en engaged In development do work at the present time employing five men The vein on this property outcrops and gives s flattering assays a s Tho The tunnel being driven to tap this lead will gain OO feet In depth Northwesterly from this group about feet teet distant Emanuel W has a a. group called tho the Silver Bo Boy comprising five claims which have been bon bonded ed to Olmstead Development work Is being prosecuted with a n. force torce Jf ot five men Tho The oro ore on thIs thin property is 16 a silver bearing quartz and the shaft which I is down 85 86 feet shows the ore oreo to o be of ot an average width of 3 feet teet I Samples from the tho north drift on the 50 foot Toot level lC give assays of ot OO ounces in silver Hilver and 10 In gold golt Another level is now being run from the tho bottom hot hot- tom of ot the shaft to further explore In Inthe Inthe inthe the other direction This work calls for hoisting machinery which Is 19 expected to arrive within the tho next few tew days daB Facilities for tor a camp are aro plentiful there being wood and water In a bun dance A curious fact tact about this wonderful won won- little camp Is that It has no townsite staked out and no real estate dealers This fact tact alone should commend commend commend com com- mend it us as being worthy of or gation REAL VALUE OF AN OUNCE 0 OF F PURE GOLD GOLDA A recent report from Washington with r regard Jar 1 to the th present value of an ounce of or fine gold old contains an error which is not at nil all uncommon In dis discussions discussions dis- dis of ot monetary topics says Ia's the Boston Doston The The- statement declared that bureau of the the- mint working working- In conjunction with tho the United States State geological survey survey sur sur- vey ascertained t that ht h t present n t val value U to bo The render reader Is naturally led lel to Infer InCer from this Unit that t this figure ure varies varie's with the conditions of ot the demand und find supply of tho the precious precious pre pre- cious clous metal The Tho fact of the matter pre pre-I IK is that It Is fixed and unalterable and and- does not represent tho the real value of ot this the gold at all It merely indicates the number of or times an ounce of ot gold old weighs tho Oho amount of ot fine lne gold contained contaIned contained con con- In a a. dollar Thus tho the fi figure ure Is obtained by simply dividing 80 tho the number of grains In an ounce b by 23 2323 2322 the number of grains of ot fine gold In a |
