Show Ihil II MinIng Eyes yes Watching Watching- Course of 01 Silver J ilver Future Bright I Statistics of Output Worlds World's Consumption tah production o of silver sll amounts amount to tot t to nearly ounces a acar car ear ear- earThe ar The white metal is found Inot in ot of or the ores of this state slate Accord- Accord gly this tillS makes this metal of oC para para- Inter Interest st to all l local cal mining oper- oper I tos tors ors One ne of or the tio best informed local loc en cn- on Mn the silver sUver situation is S. S M. M r. r a a. well known Salt Sait Lake cill- cill n of oC p prominent eminent connection with big ining interests The Tho H Herald requested r r. r C to t furnish h it with an on the t sliver silver situation The howl lowing valuable contribution Is the As 5 Utah elah ranks second as the largest of silver sil In the United States tate be mining men of this state arc nut nut- rally interested in the future outlook or the white hite metal The largest real ical producing silver nips amps in lit this country countr and Canada are arc nop Nev C Cand and Cobalt Ont Onto These were both discovered about the theme theme theme me time and for or a while were phe- phe producers of the white while metal he production from Crom rein both hoth of these In recent years ealS has hag somewhat and speaking about 1918 oper- oper ons i 12 E P P. I Earle arle president of or Mines Jines Ltd said in part Development Dc of ne new ore did not make maket t p for the he large production In so there theres s some decrease In ore reserves resel wh which Ich ow 0 stand ounces ounce What Y has been stated above c b by the lJ management can In a sense L said saM concerning concerning- all the properties perating both in the Tonopah and CoIt Co- Co It districts These silver sll mines are arc arel l r ri the decline and the peak peal of their i reduction has been LEen reached and passed second and more moie important source C f silver cr comes from the ad ores mined In Lit utah Ulah and Idaho Park City Utah and the Coeur Alene I ne district In Idaho arc excellent amples of mining mining- camps producing re of this particular character These res res are shipped to smelting plants and ande c e e silver produced is marketed b by byu l u uch ch h firms as the American merican Smelting Refining company and the United tates tales Smelting Refining com company nr A third source comes as a product by-product rem om m the largo large mining mining- companies such f the tho Utah Copper company and the Copper company compan which h pro- pro uces annually l ounces The reduction h of silver from this latter h has h been somewhat t diminished ue uc to nie the curtailment of or copper out- out ut t which In some places has been re- re I I to 40 41 per cent of ot normal cadt ca- ca I city dt- lt must be taken in mind that the reduction of or copper coppet and lead bear an Important relationship to lo the reduction of or silver and naturally a arious rious flous curtailment in n output of oC the bove boyo mentioned metals has a a tendency reduce reduce the output of oC silver sll which is what is tal taking ing- ing place toda today World orld Sliver Silver Production Statistics with reference to the tho silver sll reduction of the lie world show how n a grad grad- 1 decline The only real reul source avail avail- le Ie to increase the output seems to Mexico which normally can ean produce ounces per annum If It the thc present price o of this metal p pliz pro pre liz lIs and conditions become peaceful tour our southern neighbor this output I questionably can and will be InH in In- In cased H The following is the thc world on n of oc silver Il in ounces ar far ar Ounces 10 10 t 1 11 3 1 12 1 I I i I 14 1197 is 15 liS 1 16 11 1 G t fJ 0 0 00 I 1 States production 1 13 OO IH 14 i i 15 15 16 U i 1 17 I IS t C r K in National The he era a average e price Ilice of j liver Il for or four four- ourI our our- I Ii years rears 1903 HIO to 1916 was cents F 1 ounce During April 1918 HilS ConS Conta Con- Con ta S pa passed what Is s known as the bill which established a max- max urn price of or for silver er per pcr rice This done at the I nce was urS' urS urgent nl of Great Britain who was compelled to secure enormous quantities quantities ties of oC the white while metal In ord order r to lo re restore restore re- re store and maintain the financial balance balance balance bal bal- ance of ot India This bill which also alJo permitted the them m melting o of the Sherman silver sll dollars should be Le a factor actor in n stabilizing the price of oC silver for Or years ears to lO como come at 51 1 1 per Jer ou ounce u h the passing of the Pittman act was a necessary war measure and was re responsible for fOl solving sol a very eQ bad hall financial dilemma for or Great Groat Britain nevertheless it has already acc accomplished pUshed its ILM purpose e and should be su superseded su- su by a law which would place ilace I II the price of oC silver varying according I I I to lo the natural economic law of ot supply arid and a d demand I It is claimed by some CI very eminent financial authorities that the sliver at pres present nt being exported from Crom our country country coun coun- Itt try and which has been purchased at 51 Is s being utilized in order to set set-I I tie far ar eastern trade balances at the thc rate of cf r 10 per ounce ounce If IC this above abo condition be bo true the American silver cr I producers are arc being imposed upon pon by British ban bankers and this injustice should be corrected S That a shortage of silver er exists Is undisputed and the following statistics statistics statis statis- tics with reference to the world demand demand domand de do- mand should be appreciated b by those mining mining- this metal The rhe yearly demand for silver is as follows t I I Ounces Ounce Subsidiary coinage Arts t j. j India China I Africa Total Production Sho Shortage tage Silver r Metal Heretofore England has lIas settled her I trade balances with India by br means of oC gold At present En England land cannot permit per per- I mit the exportation of or this noble metal I as it would jeopardize the foundations I of or her financial structure upon which she has reared a credit Therefore if trade balances arc are to be settled b by means o of coin siler sil silver sit sit- er ver will be the natural metal used for Cor this purpose purpose- Tho The above 6 statement alono has Considerable Con eon sl era le bearing bearing- upon the future of oC sliver silver due to the fact that previous to th the war India absorbed yearly carl In oid ld which must at present I be 10 settled with silver Then again subal subsidiary lary small paper mone money Issued b by European governments during the war will be replaced by silver an and if t not replaced at least be made a basis for its issuance The Tho usages in arts and Industries of or silver and rind its ils chemical compounds have haye Immensely increased Who ho would think that at least l to ounces ounes of or this metal is being utilized util in photographic and moving mo picture picture pic pie ture industries per pcr annum annum In conclusion it can be safely stated that lint tho the future of slIver silver Is exceedingly exceeding exceeding- ly Jy bright Senator Ex-Senator Ex Gu Guggenheim in ina a recent report to the shareholders shareholder of ot the American Smelting Refining company compan sad saId Authorities on the sil silver sil- sil vCr ver market agree afree that the price pric of or this metal will be b maintained at l a dollar dol dot lar mr for a prolonged period Senator Reed need Smoot the future chairman of the Senate finance committee committee com corn recently at a a meeting of mining mining min mm- ing ing- engineers said Remove Remo the tho re restrictions restrictions re- re on the price of or sliver silver and it will have a mighty good rise In Inva va value I uc Professor Fisher of or Yale was recently recent recent- ly h quoted as s san saying Gold will not return to lo circulation there w will ll be no great outflow o of gold old through International international international trade trad If H Professor Fisher be right rIg in prophecies then part pirt or orall orall all of our foreign debts and interest due duo us from European nations accruing accruing ing lug on our foreign n loans If iC settled by real metallic mane money should in a I Ir Urge r rge e sense be settled h by the use of or silver sll To summarize the actual outlook for forthe forthe or orthe the future of or silver sliver one can say with witha a a. diminishing output and Increased demand dema de de- dc- dc ma mand marid the m market JI et for this metal will wilt willbe willbe be particularly good g for Cor i sonic some years rears Jon QUOTATIONS I A Atlanta n ta C 5 j G llo Booth 0 b lIne Blue lu c Bull 3 3 1 C C. C O. O D u. t-i. t t- t t. t Combination 1 ir Ir T. T i 1 I I Da Daisy 3 b 31 Dla Dia B. B B. B 2 Florence 1 lOb b. b Goldfield Con 19 17 Jumbo Ex 15 16 I ILone Lone Star 10 1 10 Merger fib Spearhead Spearhead Spear Spear- head 13 11 Silver Pick 11 12 Yellow I Tiger 1 lb lb b. b Sandstorm Jb b. b 1 45 I Great Bend L. L Grandma 3 3 1 Dexter 1 1 3 Manhattan l Con 8 9 Mornin Morning Morn Morn- in ing ing- Glor 31 32 Cracker Crack Crack- Glory 3 2 3 White Cap er Or lack 3 J. Con Va Ya 2 O. O Confidence Confidence dence t b. b Hale fale t NorcroSs Zb b Mexican can j Sa a Savage f lb SIerra Nevada 21 20 0 1 Union Unton 39 38 Ca Cash h Boy noy I 11 12 Gypsy Queen 5 4 Jim Butler Dutler Midway 1 17 15 Monarch I 1 P. P Ex 9 8 Montana Mon lon tana Ex lx 9 8 MC McNamara amara North Star 10 11 Eula 8 9 Tonopah Ex b. b lb lb b. b West Vest End Nevada Xo JUlIa 7 S. Round Mountain 10 41 Rochester Nevada ovada Packard lackard Red lulls Hills Flor 1101 4 5 Tonopah Ton- Ton TonI I opah pah Divide hlo Nenzel Crown Point 6 5 6 Gold Gol Zone 11 a. a o Oil II STOCKS S Sn Anglo n lo Ainer iner 21 1 0 Atlantic 1310 1340 1360 Borne mor Ducke Buckeye c 10 Chesebrough ao- ao Continental Continental Continental Con Con- Crescent 38 j Cumberland Cum Curn- berland 90 OO Eureka 1 Galena 13 1 6 Galena pfd 1 5 Illinois Pipe Pipe ISS 18 mt Int Pet 30 29 O Indiana Pipe 10 MerrItt on Oil 3 1 MIdwest MId MId- west nef 17 Nat Transit 2 23 22 3 X Y 1 Transit Northern Pipe n ii Ohio Oil 80 Penn Mex r 55 l Prairie 66 61 Prairie Pipe couther outher Pipe 16 South Penn OH Oil iI Southwest Penn Pipe 99 9 10 15 o 0 al 40 Sri cr o S. S C O. O md InrI T Mn 3 10 n 0 S O hid Ind n 5 O. O I Kan an 70 95 S. S 0 O. O Kr C 5 O. O cb GO ft S 0 VJ N. N J J. J S S. S o 0 r 1 36 6 q S. n 0 0 Ohio hlo Swan 1 Pinch inch iG-i iG o. o Union Tank 11 uS Vacuum 1 Washington a ton hin-ton 36 10 G- G to |