Show I I FINAJfCE ill MINING State of the Money Market and General Business ORE BULLION AND MINES Business Local Securities Bank Jleceii Electricity in Alining Gilmer and Salisburys Mines Business during the week has been fair the influx of fall freight has in a great measure ended and from now on during the winter receipts at the railroads rail-roads will be light As we observed some time ago the larger establish mentshave made no appreciable diminution dimi-nution in their fall purchases The money market is close as yet but there is nothing existing that could be called a stringency A prominent lender yesterday assured us that he was constantly con-stantly making loans and that during the week he had put out some heavy amounts One per cent to 1f is paid with real estate security but except on extremely large amounts nothing lower than 1 is taken The Deseret National bank sent an order on Friday for 1000 shares of Horn Silver and the customer for whom it was bought was fortunate enough to obtain it at bed rock 425 per share Dealings in local securities have been scarce a small block of Rocky Mountain Electric stock changed hands at 15 a slight advance over the last transaction transac-tion noted R S Watson buyer for Z C M I has returned from New York haying left two days previous to the election it is needless to state that he is a stalwart stal-wart Republican he says The feeling is general that Cleveland goes in we will have flat times still a good deal will depend upon whom he chooses as a cabinet there are big factories east which are now working onehalf their force until it shall be known whether or not Elaine is elected and if he is not the fear of free trade will shut a good many down altogether Country merchants are referred to the article Our Country Trade in another column of this issue they will find a careful estimate of many of their class made by a writer who is as thoroughly conversant with he methods of business in Utah a > any uie within her borders Ore and Bullion The receipts of ore and bullion at the banks in this city for the week ending Saturday November 15th amounted to 13l81S9i against 14211568 for the week previous The following are detailed de-tailed tables of the receipts Bij Wells Farao Co Value 16 Cars HornSilrer bullion 4800000 5 Bars Vienna 760300 313 Bars Ontario 2931094 2 Bars Christy 320000 Total3311891 L By HcComick Co Value 13 Bars Hanauer 2530000 3 Cars Idaho ore 445000 1 Car Nevada ore 195000 1 Lot Crescent ore 260000 6 Cars Queen the Hills ore 605000 2 Bars Stormont Silver 275000 Total 4370000 Total shipments the week13181894 The Sells Colonel Sells stated to a HERALD reporter on Friday that he was about to close down his property in Alta on account of the tramways annual cessation ces-sation of work The Colonel stated that he had been able to clear expenses during the summer and considering that the aim had mostly been to develop tne property he felt well satisfied with the result I The Quigrg 1 Mr Evans states that the mine is now I looking better than ever before and that I i Mr Hirschman the superintendent is j I working a force of eleven men One 3000 shipment has been made to Kansas City since the new organization I took hold I The Ontario The one hundred and first dividend of 50 cents per share 75000 has been declared and is payable on the 30th No later quotations have been heard than that last recorded in THE HERALD of 2100 per share This will make 825000 paidin dividends since January lit 1834 I The Latest Sensation In conversation with Mr C C Ruth rauff who keeps all the news of developments develop-ments in electricity at his fingers ends a HERALD reporter learned that Hr J Cassell of England has just perfected a process for working refactory gold ores by electricity He used nascent chlorine treated by electrolysis and also used common salt Lime rock was added to prevent a lossof other metals Mr Cassell experimented with his process pro-cess six months and when he demonstrated demon-strated it successfully the patent wa bought by an English syndicate fo 300000 The discovery has made a sensationjamong mining men abroad I Gilmer and Salisburys Mines The possessions of this firm are so vast and widely scattered that like those of Queen Victoria It may be said the snn never sets upon them Each one of the members comprising the firmJ T Gilmer Monroe Salisbury and 0 J Salisbury Sal-isbury gives his attention to property which taken singly would mean a fortune I for-tune to any ordinary mortal The Ramshorn under the superin tendency of 0 J Salisbury is shipping ship-ping seven or eight car loads of nigh grade bulmon per month t6 the Aurora works in Illinois the ore runs high in silver and carries but little lead so that the company are afpresent under the necessity of hauling l haul-ing lead from Wood River tosmelt with and send it back in bullion thus paying freight two ways an effort will probably prob-ably be made Very shortly to apply a process which will separate the lea < i from the uilf er at tire worksso ittaf I Silver bars alone will be shipped Mr Hames thinks that the bars if the process I pro-cess proves satisfactory will assay as high as 950 or 975 fine I JT Gilmer is busy at the Kentuck on Salmon River the companys goldmine J gold-mine The big mill is being constructed I at a heavy expense the machinery haying hay-ing to be boated part of the distance from Dillon to the ground selected for its site Monroe Salisbury remains at Benson Arizona where he is running the Bens Ben-s Smelting Works The bullion turned out Is shipped direct to San Francisco The Stewart in Bingham still lies idle and neglected The Idahoan The English syndicate which purchased pur-chased this property is working it actively and shipping ore to Kansas City sixty men are employed Mr G Edgington one of the brothers who sold the property states that the first I payment will be due at McCornicks I bank on December 15th the amount i < 150000 and the remaining 250000 matures some time after in two equal I payments I An Important Decision The suit of Don Carlos Butterfield against William II Henry for 100000 alleged commission for endeavoring to negotiate the sale of the famous Johnny Bull copper lock in San Simon N M belonging to Mr Henry ended recently in Part 2 of the Supreme court The oroperty has 2000000 worth of ore insight in-sight which consists of gold silver and copper After hearing the testimony taken by commission of Butterfield Baron Svhultz and Captain Price 01 London on motion of Jerome Buck counsel for Mr Henry Judge Barrett dismissed the complaint This is an important decision as it was an attempt to collect a commission of 100000 on an alleged sale of the property for 200 000 cash when the vender and the vendee were never brought in contact and when no money was tendered or bond given to the broker The property has attracted the attention of the London Lon-don and New York mining exchanges for several years and the decision has been awaited with great interest The ground upon which Judge Barrett dismissed dis-missed the suit was that the plaintiff had failed to prove that he had provided pro-vided a customer willing to pay 200000 for the property Mr Price in an affidavit affi-davit which was submitted yesterday stated that he had made no such offer to the plaintiff New York Mining Record Profits on Low Grade Ore About 600 tons of low grade ores is the average daily production from the mines on the Comstock and elsewhere in Storey County Nevada Of this about 500 tons are dally shipped by the Virginia Truekee Railroad to the mills on the Carson River The Union Mill and Mining Company do nearly all the crushing and charge 9 per ton giving a gross income of about 4500 per day to the millowners The cost of reduction is estimated to be in the neighborhood of 5 per ton leaving a net profit of say 2500 per nay This Years Production The Director of the Mint estimates the production of mines in the United Stttes daring the calendar year 1884 at 29090000 gold and not quite 2000000 more silver than for the previous year The Crescent Shipping is inactive only one lot having been received at the bank during dur-ing the past week Stock is freely offered of-fered but takers are few Horn Silver The decline in the stock noticed in our Commercial columns is due so we learned at the officeto tbegreat amount of shares recently thrown upon the market Whose stock this is or why ii is being realized upon no one seemed to know |