| Show f FINANCIAL AND MINING NEWS 1 1 Edited by Ira ITa C. C Tichenor I t GREAT INCREASE IN INI I COPPER OUTPUT l' l PREDICTED 0 I J v M Many y Prospects Will Be Developed Into Mines It ItIs Is Declared n the case of tho to copper mining comp companies com corn possible that when the p lIles It Is quite po present period covered co b by the 3 c rate of natural adjustment h has hs s expired the costs cost will wl result resul In normal noral earnings the metal If on the theother theother based on 2 c for metal I other othel hand it be found this adjustment has not been I sufficient and that In Increased Increased In- In cr creased requirements will wi call cl for a still sti greater expansion of oC production It I Is will vIli re realize realize re- re I quite quie likely that the government o wi alize the wisdom of fixing a price irIce more moreIn moreIn moreIn In alz keeping with the conditions that exist II wih at the time sa say Charles A. A Stoneham Stoneham 8 Co In their late latest t market letter leter I While hUe It Is true truc that In the copper mining min mm- I ing Industry one erse adverse factor after an another another another an- an other has affected d earnings since early I In 1917 It mu must t be remembered that the companies entered the tho 1915 production year with nil ni these facts before belore them and I wih that all al their energy enerS' enerS is being devoted de to I th the adjustment nece necessary sarr to copo cope with with the new nc situation and that during tho I present year far It I Is quite unlikely that the thc they will wl encounter strike transportation I and nd other troubles that beset them In 1917 Then again It must be remembered that the dividend dl disbursements of ot these companies were vr very generous during luring tL year In fact the distributions might correctly correct correctly cor cor- be termed abnormal In view of the disturbed conditions of economic af at- fairs It Is Is therefore not to be wondered wondered won won- dered at nt I that tho the omission of ot the Utah extra dividend Is re received with good goo I grace and that shareholders generally are arc quite satisfied with wih the p per r share 1 quarterly quarter declaration Utah Copper asa asa as asa a 10 stock is still sti selling on a basis to yield better beter than 1 12 per cent cent I II It will be seen een therefore therdore that the outlook outlook out out- look I wi for lor the It coppers copper Is much out out-I brighter than the first casual survey sur cy would Indicate The belief bele continues that when the time comes for lor fixing the price 1 of ot th the metal anew It will be lie placed ona on ona i in a per pound basis buds Assuming that n this be the ca case e. e It will wi m men mean n an nn Increase In the gross earned by the tho four big por- por alone based baRed on 1917 production of almost With the condition of the larger larler copper copper copper cop cop- per Wih producers gradually Improving It follows follows fol fol- fol- fol lows that the smaller companies will wi also share hare In the coming prosperity of the I Industry In fact the big problem of the cO corner capper r Indu Industry tT during the coming year will wi be b to adequately meet the con- con coni i expanding requirements of both our own government and the allies alies to i sav say noth nothing n of the domestic trade nor J th ih the ghan gigantic quantities that will 1 be sary c sarY for fot reconstruction purposes I Immediately Im Im- mediately edl teh after the close of 01 the war Previous pre s to the war It Is estimated that the refinery capacity of the United States was as pounds annually Since I Ithen then additional plant and equipment fa facilities fa- fa a- a havo been created which should I enable these plants to produce each year ear eara earl earla a. a combined output of refined copper es estimated es- es at poun pounds s. s Mines will i therefore have ha to get out a much lar larger er I tonnage of ore than heretofore If tho new refinery capacity is to be ful fully en- en j i One Ono of ot tho the largest domestic Concerns Con cerns recent recently stated stated- Vast foreign on-I on demand demand demand de- de mand for or copper combined with unprecedented domestic requirements should sufficiently emphasize the danger of oft I keeping ro down n production b by a niggardly price fixing policy It I would prove pro e a j jIom gloomy and Inexcusable situation for the thc country to face If I a copper shortage i should develop clop de in 1918 1915 I j jIt It is without question Q that every producer producer producer pro- pro I I ducer will wi be ked to push production I Ito to the limit and the year car will wi witness winess the transition of oC many properties that I are today regarded as prospects to producer producers pro pro- lucers ducer of Importance Copper dealers re report report re- re t port por larger inquiries for the metal than ever with deliveries all al the tho way to the te end of or May These Inquiries are entirely from domestic consumers and ant do 10 not take into account at all al th the requirements of or the government go and the allies ales J Copper securities ma may be bc purchased at prevailing figures with wih the confident knowledge e that all al the bad news Is IR out out The omission of ot the Utah Uth dividend and the reduction of a share In the quarterly I terly dividend of Chino Is more than offset terl by the continuance of regular dividends divi b by Ray Consolidated an and Nevada evada Consolidated and 11 is evidence of the fact that notwithstanding advancing costs coats federal federal taxes transportation difficulties anti and additional refining chan charges e the copper copper copper cop cop- ant per situation Is not in In nearly so Q bad I shape hape as first impressions would i- i cate and that the present year car will wi bo ho boa hea a most prospero prosperous s one In the history of or the tho Industry This prosperity will wi bedul be dul duly reflected in the ancin ad advancing prices for forthe forthe the copper shares BOSTON STOCK TOCK EXCHANGE CLOSE Badger Bros brokers South Main I street treet furnish the tho following quotations received over oyer their private te wires Ires I I Bid I A Asked ked Alouez 0 5 52 I va 21 f io 30 I Calumet Arizona Arzon 9 iO o I Calumet Hecla Copper Range 44 4 45 Daly cst J 21 24 East Butte 9 Fre 5 6 Island Creek 61 61 Creek pfd 82 83 3 Indiana 80 Si 81 Lake Copper I 61 Mohawk 6 Mason Iason Vale Valley 2 5 North Butte Bute c 4 i 1 OJibway 1 i 1 Pond Creek 19 1 19 t Marys Mary's 53 Superior Boston 2 2 3 South Lake 1 2 South Lale Utah 11 11 17 Swift Co 1 Tuolumne 1 i 1 United d Shoe Mch i 45 2 45 5 United IThoc Sho pfd 5 26 Utah Uth Apex AIex 2 2 24 Utah Consolidated Uth ii 10 10 Victoria 2 3 29 9 Y 30 I I Wyandotte i 1 i 1 ic i-ic Winona inona i 1 IE I-IE 2 I NEW YORK SUGAR By Dy Associated ted Press Pres NEW NE YORK March 14 Raw HAw Raw lu sugar r. r teacy centrifugal al mola molasses es nominal refined reined sugar steady fino granulated TWO II SILVER KINGS ARE CHECKMATED ON ON CHANGE Declines Are Sustained by byBoth byBoth byBoth Both Coalition and Consolidated Consolidated Con Con- Stocks The two Silver SI cr Kings Kings Coalition Kings Kings-Coalton Coalition and Ind Consolidated suffered to the same ex extent ox- ox tent as aR other stocks on tho the list of the thc Salt Lake stock exchange yesterday Coalition Coalton Tas was vas bl bid down to O. O with wih G 2 asked compare compared with Wednesday without transactions being recorded while Consolidated old as Jowas low Jow lowas lowas as 20 O with wih the co close c 20 compared compared com corn pared with th 2 the tho day pre pre- I A recent decision Involving Silver King KingI j I Coalition Coalton was given as tho reason for forthe forthe the decline in that stock while rumors previously stated concerning the prospective pros pros- disposition of a a. portion porton of the I shares rec recently nty added to the tho capitalization cap cap- are said sall to have ha e caused the further decline in Silver Siver t King ln Consol Consol- Consoli dated The rumor is persistent that the tho directors have voted to disposed of or shares to present stoc stockholders at 2 a ashare ashare share the proceeds to pay the purchase price of the California Caloria LISTED STOCKS I Bid Bd I Asked Alta AHa Michigan 01 10 Star OO OH Alta Consolidated 20 Alta AHa li Tiger iS 00 Albion 03 03 Am Con Copper 1 12 Alta Ala Tunnel 10 1 12 Alta 01 B BIg Hill OH 01 03 I Bullion Dulon Hi 00 OO Doey 6 01 Big Four Exp 05 Amal i OS 10 H Big Cottonwood on 01 01 Bg Beaver er Bea Copper OO 00 00 Bay State 01 01 Beaver Lake Metals 00 I Central Eureka 01 01 Cedar Talisman Eurea 02 Columbus 73 74 Colorado Colordo Columbus Con OS 10 Crowl 02 03 Cardiff Cardiff- 50 02 Croft 02 Cottonwood King 00 Metals 03 03 4 Dal etal 1 0 Dragon 24 S Con OO 00 O Daly Dah ExL bt 05 05 Empire lre Mines 22 22 Empire Copper inen 1 G. Eastern Prince OO B. B Po B. B Bell 1 S i I Emerald Bel 01 I Eureka Eureka Mines Unes 08 10 i Emma Copper 25 Earl Eagle Engle 03 0 O I Erl East Crown Point 01 Ea East t Tintic Con O 0 Oj I East Antelope OO 00 00 I Eureka Bullion Bulon 07 I Gold Chain OS Grand Central 60 Great Greatest est rn 04 Golden Emma 09 11 1 Howell 19 19 home Howel Run 01 Iron Blossom 41 42 42 Indian Qu Queen en 00 07 Iron King u 12 12 16 Judge M. M L S. S Keystone Keyston 40 45 5 King David 02 Keno 03 Lehi Tintic 05 05 Leonora 01 01 OO OO Miller ller Hill Hi OS 09 May Ia Day 02 Mineral Flat 01 06 I Moscow Iosco 02 I Major Evans OO I Utah Michigan 13 14 1 New Utah W Quincy 09 09 07 al rl er I Nova 00 OO 00 Original Bannack 01 On 03 Ohio Copper 93 93 Bristol e. e 00 00 20 Prince Con 53 53 51 Paloma 01 01 Paloma Price Mining Mining OZ 02 OJ 05 I 02 03 i Rico Arg ArS 03 Ot Reeds Peak 02 02 I Rico Vell Yel 15 19 Sells Sell 10 10 11 00 OO 00 Silver Siver King Coal 2 10 O Seven Troughs Troughs 01 03 Seven Troughs Coal 12 12 Silver Siver King Con Con Sioux Mines 04 0 05 Con Con 01 on 03 South Hecla GG 66 68 Silver Siver Shield 14 1 14 1 f So Hecla Ext 03 05 Secret OO 00 O 02 So Park t D D. D 0 05 o 06 Con 20 20 Texan 10 io Tar Bab Baby 04 OH Tintic Central 03 Standard 13 Tintic Drain Drin Tun United 02 io Uncle Sam 01 Utah Con Con on 01 01 Union Chief 02 03 Victor Con os 05 ot 01 Wibert 11 13 West Vest Toledo OS OS 4 Walker Mining MininG 1 SO 1 6 Yankee ee Con 1 06 Zurna Zuma 1 1 i 2 13 OPENING G SALES C Columbus 1350 at Hc OO at Howell Howel 1500 at 14 1 c nt at Iron Blossom at Lehl Lehi Tintic at Mineral Flat Fiat at 5 C fc c. c New Quincy at Prince at I Sells Sels 1000 at lie le Sliver Silver SI er King Con 1 O at 21 Tintic Standard 1200 at 35 West et Toledo 1500 at Sc fee OIL STOCKS Liberty Libert 1500 at nt Sc Wyoming Apex 1000 at c CLOSING SALES Bullion Dulon 1000 at c. c c BI Big Cottonwood 1000 at 1 lc fc Columbus Rexall at 7 c. c Earl Eagle 1000 at Sc Eureka Bullion Bulon 2000 WOO at Crown Point 1500 at 2 2 Howell Howel 2000 at He Hc Iron Blossom Bossom 70 at at lie He Lehl Lehi Tintic at Sc tc at 5 c 20 at eLeonora e Leonora at c. c New Quincy rOO at a 9 c. c Sells Fells Sels 1500 at nt 10 c. c Silver Siver King Con 1100 at O South Hecla OO at at Tar Bab Baby 1000 at 4 c. c a Union Chief Chie 2000 at Pc 1000 at Sc Whirlwind 2000 at 1 lc c. c West Iest Toledo at 8 c. c Zunia Zurna at nt TOTALS TOTALS I shares for 5 STOCK JOBBING LAW LA GIVEN FURTHER INDORSEMENT Stock Exchange Mining Chapter and Commercial Club Approve Plan By Ira C. C Tichenor Tichenor I Unqualified In Indorsement o of th the ordinance ordinance nance for the tho regulation of sales of stock o of Incorporated companies in behalf behal of I which The Thc Telegram Herald Herll j Inaugurated a 1 campaign le less s than two I weeks a ago o. o was as given that measure yesterday yes yes- I cs terray b by the Salt Sal Lako Stock and Mining Min ln- ln I ing exchange the Utah chapter of or the American Mining congress and the Commercial Commercial Com Corn mercial club cub of or Salt Lake I At the conclusion of a conference lastIng lastIng last last- Ing nearl nearly two hours members of oC the board boar or 0 governors or executive committees committees commit commit- I go tees of oC the several fc eral organizations agreed after deciding upon several se erl changes which do not In an any manner modify the principal alms aims of ot the proposed law placed their seal eal of ot approval upon tho Idea I As AM a result resul It Is confidently expected that th the ordinance wilt will wl bo be b Introduced at atthe tho the r meeting of tho the ct city commission next Monday night that It will be passed on Wednesday and with wih an emergency clause cause attached be put Into effect erect before the expiration of or the coming wc week l Assistant City Attorney Horace Horce II- II I. I Smith attended the conference as 8 the representative of ot tho the city commission I Mr Smith has had In chargo charge tho the formal framing of the ordinance and und be bo rend read the draft as It I had beon been changed since It was first taken up It I was found that tho or ordinance as it I was wal read at the thc conference was considerably considerably consider consider- ably changed change In verbiage e from the tho copies which originally aly were obtained h by committees com corn representing various civic bodies and which were considered b by some somo as containing several unduly harsh provisions provisions pro pro- visions which might work to the hardship of oC legitimate concerns Tho The suggestions of oC several of oC those present were accepted and Mr Ir Smith eXpressed ex expressed expressed ex- ex pressed the thc belief that he would have havethe havethe the ordinance In proper s shape hape for presentation presentation presen presen- tation at Monday nights night's meeting of the theet city city et commission President La Lane no of the stock exchange said after aCer the close of or the conference that all al the essential features of the original draft were retained and that with wih the smoothing over of certain places to make the pro proposed pORed law more certain of operation operation operation opera opera- tion he had no doubt douht of Its It acceptance by bythe bytho the tho city commission Mr Ir Lane said that all al present were full ful fully agreed that some ome law aiming at il illegitimate II- II I-I I legitimate organizations and at the same caine I time Imposing no hardship upon meritorious meritorious meri men enterprises was absolutely necessary far cary sary e especially In view of the certainty that Utah will wi experience an nn Immense oil 01 boom In the near future The Thc oil 01 section of the Utah chapter of the American Mining congress will wi hold Its It regular weekly meeting this afternoon In the rooms of the chapter on the third floor of the thc Boston block It was expected expect expect- ed that much of the time of oC the meetIng meetIng meet- meet Ing log would be consumed In a discussion of tho the proposed ed ordinance but now that the executive committee of the chapter ha has gone on record as favoring the ordinance as revised It I Is believed that the oil 01 section sec see tion ton will wi go little further than repeating Its It indorsement of 01 the principles of the proposed law as made b by unanimous vote ote last Fid Friday NEW YORK STOCK LIST Badger Bros brokers South Main street furnish the following quotations received recel cd over their private ato wires Alaska Gold Mines 1 H. H 1 t 1 H HI I Alaska Juneau 1 14 1 1 Am Beet Sugar 31 81 81 86 Am A Can CanAm Can 42 2 42 02 01 Am Are Car Cor Found 2900 77 76 Am Hide L I. pfd 00 60 CO 59 9 58 Am Loco Loo 1100 66 f 66 6 65 Am lAm Smelt R It I. I 1700 81 81 81 Am Sugar Ref ReC 10 10 Am m Zinc II 11 do o pfd 42 2 Anaconda Anaconda 64 63 3 63 Atchison 85 i 34 SH 84 Atlantic G C CV W V I 12 11 11 Bait Ohio 56 U 55 I 65 fH Baldwin Loco 77 n 75 76 71 76 Beth Steel 78 7 |
