Show I MINES AND A ND MINING NEWS i fAD HORSE GROUP t BOUGHT BY UT AHNS f M N Morrison and Associates Get Valuable Property Near Wells It Wels f The Te Dead Dead group of or claims at t Mud Lud ud SprInGs Springs n near ar But valley ale were sold old old last lut week to I. I L. L N. N Morrison and associates of at Salt Sail Lake dt City says ay S the I Nevada levada StatA tate Herald F F L. L Martin Garfield and Sam Bachman Bachman the tho claims about aboul two years a ago o te nd md have done lone the assessment won work up to nc the timo of ot the sale The work so lO o far ar nr done on the tho claims have been FU- FU as Mr Morrison SIY says but bat what appears to be a n good bOd body bod f silver lead ore are has hal been uncovered al ard d Mr f. f Morrison and his hia friends after acer H nae- nae enl e- e ng tAO property and making nome orne as- as ears ay nl ys of ot the surface showings determined deter doter mined to take over O tho the property nd pend spend some Iome mane money In further develop develop- t r The group contains eight claims and md mays naye show a a value alue of at about 50 ounces I at filver silver and 27 per cent copp copper r to the tho i ton on t though Mr Morrison does docs not claim that these assays are aro In any anya a way va eam b reliable Plenty of water at r 1 for or nil al 1 purposes is 18 hand handy while sufficient BUtt BUtt- lent timber for development purposes 8 II j I nearby r fw J Ideal eal conditions for tor mining surI surrounds sur sur- I rounds tho the property according according to the of Mr Morrison and on his turn return to Salt Sai Lake Lalee a company compan will willit wil jit it t on o be b Incorporated and active op- op will begin Immediately It is I IU IsI In U no flO sense a stock stock-seln tock stock scheme as I Tl I 1 tho the stock will vIll wi be bo held b by Mr Moron Mor- Mor leon Ion on and hl his friends as a. a I purl purely in investment In- In vestment estment proposition And nd the is 11 situated sixty eight miles mies from om Well cl It i Is expected that the tho will wi make this city their for tor banking and purchasing ing ag purposes which will mean no small smal Dg tern to this town In a financial wa way I Caen was paid In full ful as a a. a consideration consider consider- I for tor the transfer but for r ons lot at necessary to state Mr Morrison toes I not care to make public this part it Dt t th the tho transaction I Mr MiS Morrison is familiar With wih the M. M inIng conditions in all al th camps of or the he west and has had considerable e experience ex ex- In handling mining properties laving bought and sold old properties that have ay been ben great producers and nd which ire iro classed classe at this time away up In InI Ine Inthe the e I millions i The Tho Th company to ship ore from rm rem Curry Curn which i In I only 2 25 q miles rom GI m the tho property but since the dirt I cads a s from Wells to the mines ure are a as evel as a floor ad and in good condition will wil be purchased here hero anti and ant i to th the scene ceno of or op operations I GRADE OIL I BURSTS THROUGH GROUND pi Casper V Wyo A. oA A. A peculiar thing which happened last month a at Salt alt reek has just become known probably probably ably bc because baus aU It I re requires something extraordinary ex- ex out there thero where they are aro CUI CUIRe used Re to all al kinds of or astonishing things thinGs to excite excie comment 4 i On the already far famed tar section 33 3 tho the Midwest has a where t company of or gushers capped to prevent pre a deluge of or oil 01 over oyer the surrounding r country countr oil al has burst through th the surface surface surface sur sur- different two bundred hundred hun hun- face In three places 1 dred Ired feet from an any well well These vol- vol inteer gushers throw streams of ot oil 01 to toa toa a a height of ot three feet teet and it was necessary essary to construct a reservoir to receive re- re the oil 01 and prevent waste A pump Is 18 kept constantly constanty working working pumping tho the oil oU from the reservoir This phenomenon is attributed to tha fact that the strong gas as pr pressure In Inthe Inthe Inthe the wells wel drilled nearby forces the tho oil 01 up up through crevices in the underground under under- ground formations and anc thus forces an outlet at the surface BUTTE WAGES MUST FOLLOW COPPER DOWN I Butte Mont It I It Is tho the general opinion Jon ion on here hero that the Butte Butt miners will 1 bo ho paid for tor February at the rat rate of per Dee er da day in jn conformity with wih contract which provides pro that when copper sells sels tor or a n majority of or the days as a's of or a given month between 15 lG and 17 11 cents a pound Jound the rate shall be paid pall Under this contract contact the wage ase drops automatically au au- to per day with wih the metal eal below bolow 15 cents r East Eat Butte Bute has followed the lead of I Anaconda and and 1 Ill li pa paying 4 per day ay for tor January notwithstanding the drop trop In metal eta prices GOLD CIRCLE IS BEGINNING TO STIR Camp Has Miners Employed Em Em- New prayed New Required I Ti n. S. S s Bolam the well known known el mining man returned yesterday from a a trip to Gold Circle where ho Is Inter interested In n I several properties sa says the tho WinnemucCa I ca ca Silver State Mr Ir Bolam states that that the camp is looking well wel wih with itji from SO to men working for tor wages The Gold Circle Queen Mining compan company com cont- pany pan has acquired a group of oC five the claims in the district and work vork worl will wi short shortly be started up un under er ih the supervision supervision super super- vision of Mr Bolam Bolan Tuesday th the thu Elko Prince struck I three feet of at ore in the bottom of or the that will wJ go 0 OO to the ton The Tho Esmeralda a is working about forty crt men an and Its Is mill mil is running at full ful capacity Tho Star says ans W. W L. L Brackett a known well wel automobile man man is In town Rn and is arranging to put on a line lne of auto stages between betweEn Golconda and alid Gold Circle He has two machines and a trip will wU be made each way ever every da day making it very convenient convenient con con- for tor tho the traveling tra public especially espe espe- cal since sinco the renewal of activity that is i shown shon in the Gold Circle dis dis- ls- ls It I has been some pome fome time since th the regular regular reg eg ular ulal auto stage service b between t c n Golconda Golconda Gol Gol- con conda a and Gold Circle was sas discontinued and Mr Ir Brackett's venture will wi no doubt bo be successful successful considering the tho re reCEnt recent recent re- re cent CEnt Increase In travel tra between the two p places Ia c e s. s I MASON VAllEY CONVERTERS SOON This Improvement Will Add Greatly to Efficiency of Nevada Smelter Smelter Representatives c o of mining and milling mill mill- ing machinery firms who came caine ml- ml to Goldfield on account of or the awarding of the contracts for tor equipment of ho lio Buckhorn Mines company's compans mill have o concluded their business and three ot or them have havo gone to Wabuska where they have hl e bids in on converters for tor forthe forthe th the Maspn Valley smelter says the Goldfield Tribune The Tho men who are competing for tor tho the Installation o of this plant are aro E. E N Nw N. Greenleaf represent represent- ID lag ing the tho AlIis Als company compan with headquarters at Milwaukee N. N 0 D. D Phelps of oC the Power Mining Ma Machinery Ia- Ia chinery company at Cudahy Mien and md George Creear of the Tn Traylor Jol Engineering Engi Engl- company compan of New ew York Tho The installation of oC this machinery Is Isan s san an important departure on the part of ot the Mason ale Valley com p n which Isnow is isnow isnow now competing for tor high rank ranI amon among the thc copper producers of ot the country It I means the elimination of or tho the cx- cx penso pease or of shipping copper opper matte mato and the reduction of its Is product to ingots of oC copper that are l convertible conk con con into tho form of or metal that s commercially marketable and of standard standard standard stan stan- dard value Theretofore the product of or the Mason 1 on Valley smelter has been matteS matte mate which must 8 n be shipped J to n the f- f larger lar finni 7 SI smelt smell I lmont I. I l- l u mont ment and a heavy loss is of necessity sustained b by this operation With Ith the he installation of or the tile converters the matte mate which con contains an er a average of from 40 to 45 J per r cent copper will 1 be subjected to a process that will 1 make mako makl the th product blister copper 1 known commercially corn com om- om as blister everywhere e and this b by the use of or the CIt COI converters I will willbo willbo wil bo over o 98 S per lieI er cent COP copper I This means an nn Important gain oln in profit io for 01 mining and smelting company which is handling a n large tonnage of or custom cus CHi tom torn ore from properties to th the lie Mason Ia on Vale Valley district district The rhe Gunn company among amonA the leaders in tho the world In mining mining operations are In iii control of or tho the Mason Valley Valey company and are arc said saM to be interested In the Ito Nevada Ne Douglas properties that lint aro aronow now supplying an Important part hart of or orthe the tonnage for the smelter COLORADO STRIKE IS MAKING GOOD Denver Colo The Tho genuineness of or the silver strike made In Eagle count county on Salt creek creel near the thc Junction of or orVest West Vest Brush creek creel has been confirmed by Thomas R. R Henahan state commissioner commissioner commissioner commis commis- of or mines He le returned Monday rond from Crom a trip to the property who he took samples and md has received returns return that place the tho el discovery cover on par with wih the earl early rinds finds made In the old oM silver r camps of the state tate He lie says reports that a n stampede now Is in progress ss and the thc prospectors are making snow locations locations loca boa tiona in o cr every direction from Crol tho ho point of ot the tho recent strike also are ae tr true Tho The ore Is found in itt II laminated sand sand- stone Commissioner SIr says say and the rich values are scarcely visible to th tho eye eye except except in the tie ribbon I 10 structure of oC tho Ito high grade that thai shows Knows th the coloring and structure of or silver sl cr sulphide Other specimens froni fron the lie general general ore oro how Itow 81 silver vel cl while other parts indicate the presence of or uranium vanadium and the lie Ore or oro of or radio Th The rho sandstone sand sanu- i stone slone Is dark lalk and mn may be of or the Iho Da Dakota Daleta Da- Da hot kota leta or 01 La Plata group At t this particular parI particular par par- strike th tho th foot shows howl a fine lne- neI ne- ne I grained I Y yellowish porphyry and n It I I Is believed bc lc etl that the hanging wall when I i reached cached will wil be La Plata sandstone I JOPLIN ZINC-LEAD ZINC MARKET AND PRICES Mo Producers Mo-Producers Producers o. of over Oer O'er 2500 tons tanH their tho of zinc ore oro clo closed e down mines mlles last Friday a and Ind Saturday H to re remain remain re- re main closed until zinc prices are rn- rn stored to a level permitting a m margin r in of profit commensurate with th the cost costanti anti and risk of or mining mining In Jn some CS 3 10 iO profit proUt remained at nt pre present ent price quotations quo 1110 and in others otherl It i was vas too narrow a margin to continue out out- putting Jun Hundreds l'S of or miners are le lea leav leaving w- w trig ing the district for the w west veSt st and nd tho the mines are uie reopened nl th there re will bo bea bo be boa a a shortage of help hell that will wil reduce tho the acra average e output Zinc sulphide ore sold In lit a few re in instances In iii- stances as high as tS 55 51 1 the base bao o P per r ton of ot 60 per cent zinc ranging rom 14 44 0 to IS a. Zinc silicate sold old on a base baso baso of or to 28 S pel per ton vr of 1 10 per cent zinc I Lead prices remain unchanged at per Pei pel ton tOi of or 80 SO 10 per cent metal contends 8 REACTION BEARING HEAVilY ON METALS Copper Especially Feeling Ef Effect Effect Effect Ef- Ef of Depression in Se Securities Securities Securities Se- Se Market Now ew York Feb Fb 21 23 The d depression ut of t the securities market continues to be iu attributed principally to n n- n c foreign and and domestic tc The Tho effect is I confined a as yet ct to money mone rates rate and investment In demand leman but commercial com corn mercial and Industrial news lx is constantly constantly con con- and anxiously scrutinized for signs of reaction there In the metal markets especially copper such signs have hac not yet ret appeared I of stocks at one time last week weel reached the lowest level since September September Septem Septem- ber 1911 hen the market was WS in cour course c of recovery reco from tho the slump which followed the filing of the tho suit I to dl dissolve ol e the United States Statts Steel cor cor- A further drop in the price of or copper last w week ck marked market the diffIculties difficulties of ot producers in reawakening buying demand I The stock exchange element was as great greatly perturbed by br the tho Albany Alban proposal proposal proposal pro pro- to double the tho tax on stock tock trans trans- fers Tho effect was aggravated anra b by as assertions ns- ns r that tho the Albany Albil measures for forstock forstock forstock stock market re regulation were being considered as models model bv lw the tho Pujo Pub committee com corn tho at Washington in in the lie training framing or of Its Is report The necessity forced by In the tho Union Pacific dissolution decree of r underwriting ing lag that company's holdings s of or tho the Southern Pacific company compan was at a atme time peculiarly The wiping vip wip ing Ing out of or th the value of oC the stockholders stockholders' ers ers' subscription 11 rights has resulted from rom the decline In Southern Pacific Itself Pressure uro on other securities un undoubtedly on- on In- In is IR caused by br pr preparations tot for this subscription The steel trade Is 1 full ful of ot vitality and the tho til railroads are still distributing equipment ment orders with wih a liberal hand LIQUIDATION I IN COPPER STOCKS Big Utah Properties Participate Participate pate in the General Declines ii Liquidation in the lie Boston copper share phare market last week lad hall carried prices to now new ne low records for the year yost eal and in 11 Jany many instances instance to th the IO lowest point sl since ce 1911 says the Boston Boiton News Bureau Allouez Alouez East Butte Bute Franklin Miami Mohawk Nevada ada Consolidated Superior and Utah Copper have hn e not sol sold PO so o low since In 1911 l 1 while In the case ease of or Copper nal Range flange C ono one must hark harle back nine years ox or 0 to 1904 to f lad it selling lower than Tuesdays Tuesday's aN low point of 4 42 The Tue nearest t approach Inco lf 04 fOt was in l 1007 Oj when it i sold at nt 44 Hi Hancock at 16 Is the low lowest st since sinco 1909 and Lake LaJe at 1 12 the lowest since 1908 The rho following Is self explanatory High Low 4 l 1012 t 12 Tuesday Decline Allouez 01 0 31 14 16 Amalgamated mal 26 6 Anaconda a 18 ot Cal Cat k Arizona 83 iiO rt 0 H Cal Gl HO 75 Chino Cal 50 O 37 13 3 Copper Range Fange 66 I 12 24 Ea East t Butte If I 51 l Franklin 16 It Ici 5 SJ Granny 5 r 55 GrE Greene ill 11 7 3 TH Hancock 37 37 11 11 20 1 O la j n iI JJ 1 l- l Inspiration U 5 3 Islo Isle 37 3 i 22 Lake lle 49 u 1 i 12 37 i 7 Mayflower la 18 8 S 10 O Miami 30 S 8 Mohawk 73 47 25 r ll Nevada Nex-ada Con I 62 S North orth Butte 31 H 15 l Old 01 Colony iii 13 4 41 S SOl Ol Old |