Show I FINANCE AND MINING i r t Alarming Outlook for Silver Producers t UTAH LEAST DNFOSTUNATE t f i Receipt of Or and Bullion AVOX Bannock Fall fn Ontarl Goacral Notes The only local deal recorded during the week is a sale of Z 0 MI stock at 95 The decline in silver continues to be the one engrossing subject in trade centres and its importance Is such that V it may well occupy the most serious attention at-tention 01 our financiers What the l consequence to Utah would be were a r lead to take any tumble proportionate > to the fall in silver is not a cheerful r vision to contemplate Yet dark as the outlook seems for us we arc fortunate t 1 I p 1 tunate compared with Montana and Colorado where all their are silver y Brad frteU says The present price will close a good many mines in Arizona Mexico California and Montana In a Colorado and Utah where lead enters into the value of ore the effect will not be so bad A farther decline of lOc would practically stop production This would probably be more disastrous to mercantile and railway Interests than to miners ard smelters The same paper has the following on the silver question The extreme decline In the price of silver u7 ir c1l cf us ik ee of toe most noteworthy features recent commercial and financial history for several months pat the quotation for bar silver In w London mtrkct has stead 11 y dropped until it is well below any former for-mer recorded price for the white metal The disturbed SClnf cf exchanges between EnglAnd and her great atirer employiug de ncudcnc > In isis widely held to be the r immediate cause of the decline Increased attention is helng given to the nublect ED land in consequence of disturbance tor tbJ present the chief point of interest a for this country to the decline slhcr relates re-lates to the metal as one of our industrial products The London quotations deter flue the price of silver in the worlds mar kcls aaU the cledine from 49Nd per ounce one year ago and 4G IMGd on January 1 to the recent unprecedented figure ofCM repro rnu a corresponding decline in the fW ot 1 eYork price I from 1 OG a per ounce one year ago and iO23 on January toSlJ2c per ounce at this time for bar silver UuiieJ T IF Slates standaid According to the recent g report of the Director of the Mint the production pro-duction of silver in the United dtatea for the year 188i calculated at be coining rate in l direr doUirs is estimated ttoLGOOOOO against a like production of HI IOOCOO in tSAl The part which silver production plays in ire trade and development of the + rciritorics the nrmbet employed inborn mining and melting industries and the a largo traffic they furnish to the railroads of ta the country make a IhrlD age of Tcr tot to-t per cent la the market value of a i product of each large dimensions a matter mat-ter worthy of tirtona attention Keports have already appeared to the effect ccitr that the pixsent price t silver reduced the J profit in silver mining and production in ome districts to such an extent that notable 1 not-able decrease in the output was inevitable t inevita-ble end thai the abandonment of mines tt and shuttingdown of reduction works was contemplated in many Instances To some t t extent uch reports seemed exaggerated on 1 1i their face but a question of such importance s Meras ttcmaud fuller and more authentic information To this end telegraphic replies re-plies to a request for Information in regard to the effect of the present depression on F 1 silver production and collaterally its bearing I bear-ing in connection with labor and railroad I rates have Men recoiled from a dumber of the largest smelting and mining con rl ccim throughout the west and are herewith I 4 r laid before me readers Bradsircctt They t b are follows t Then follow dispatches from various sections of the west all agreeing on the Bloomy outlook should silver continue to decline Coming as the above dispatches do from b every section and fairly representing the a views of leading operators thcte is a surprising i sur-prising unanimity in the bad view they t takeoff the situation The may be summarized i t summar-ized indicating that the all in silver 1i affects the profit on lowgrade ore mining 1 r sod leads to a general desire for a decrease I in railroad rates and in wages In regard to r4 actual suspension ofminingoperattonsthere teems to be no authentic information as yet + while large smelting concerns which purchase pur-chase their ores seem to be in position to i iii protect themselves There would seem a 1i fprotect tobeToom for the supposition that possible the views of parties so dlrecUv interested In-terested are overdrawn and this view Is in A measure sustained by bullion dealers and others connected vith the industry in the cast According to their view the production ° produc-tion of lead gold and copper is in so many cases mingled with that of silver such an I extent that the fall in the latter can only partially afford the total results and so far a the fall in silver has not proceeded to such a point that t reduction will be seriously if at all curtailed The first of our dispatches gi en moos would therefore seem to represent i repre-sent the most probable measure in the matter l mat-ter It indicates that with silver at yJc per ounce there is some decrease in profit but a further fall to SOc Is required before serious ° C damage to the mining and smelting industries t f indus-tries is likely to ensue Ore and Bullion The ore and bullion received at the various banks in this city for the weekending week-ending Saturday August 21 1SSG amounted to 18071242 against 152 533 21 for the week previous They were + reported follows a By 2fcGmuck < L Co a Haniner bullion13375000 Queen of the Hills ore 1371000 fatorniont bars 292000 + o Silver acd lead ores 2M10 00 Crescent ore 633000 r Total JS612000 By Wellf Farya < fr fbI fb-I 4 Base bullion S 1230000 i l Ores 2311000 r Fine bars 223SQOO l Total 5779000 i By T R J na d Co 15 cars Germania bullion 2297035 Lead ant silver7ores 13is3207 i Total f 3060242 i Total shipments for week 15071242 Apex I r The rtcentassessmentwaj up as completely as if it had been Bannok A i itself and no de Inquents are therefore to advertised OLe of the directors I says no assessment may now be expected expec-ted for at least ten months i Bannock l lI l I Deals in this stock have been frequent i r x during the week past hrs lm woodevShearman and George H Tay lor having purchased some 3000 Chares at prices averaging 135 The 25 cent assessment will be paid up promptly Ontarioy The decline in silver and the heavy differences in the receipts of this company com-pany in comequence arc showing their results in the price of the stock which fell to 26 in New York on the 13th Other Utah stocks were unquoted |