Show FINANCE AND HINMG tie Hoarding of Money in the East I AFFAIRS jpEX AND CRESCENT UpOre and Bulllo Receipts looking d lntsMr Treweeks VIews Latest from Mines There are no exchanges of local securities secur-ities to be recorded this week Business jus been fair through the six days and vesterday was one ot phenomenal HvelL ness with retail merchants Three consecutive dealers when asked as to the condition of business replied universally Goodan answer which has so long been unheard that it sounded half unreal Shipments of grain and attle continue as noted during tne week by TIlE HERALD the main outlet seeming to be along the little giant into Colorado The Engineering and Mining Journal of last week says The surplus reserve over the 25 percent per-cent basis held by the New York Clearing Clear-ing House Association is now greater than ever before in its history It exceeds ex-ceeds 555000000 and has for a longtime past been steadily increasing The banks I hold nearly TOOOOOG < of which over OOOOOOJis in specie nearly nil gold for the New York banks will not receive silver in large amounts The value of money during the entire year past has been very low lower even than m London Lon-don and VA Per cent call loans for many millions have been carried during the year These figures show in the most practical prac-tical manner the extreme depression in trade and the unwillingness among capitalists to invest in active industry The profits in nearly every branch of manufacturing have fallen so low that even where they leave a margin overall over-all reasonable charges they offer no inducement to the capitalist to take tne risks of the unknown future Attention is again turning toward mining and a few booming camps like Aspen Colorado will direct it to the subject when investors will learn that the mining industry throughout Colorado and some other States and Territories has been steadily advancing on the road to a permanent and profitable profit-able legitimate business The number of mines that are now worked at from fair to very large profits would appear I incredible to the eastern skeptical capitalist i capi-talist but to those having such immense im-mense sums practically unemployed we commend as admirable investment invest-ment an investigation by competent and trustworthy experts of the present condition of mining in many districts that could be named and they will find the most convincing proof of what we have frequently stated in these columns that mining investments made with prudence offer the most remunerative field at present open in this country for tne use of capital A very moderate expenditure in investieating this subject will satisfy the most skeptical Ore and Bullion The ore and bullion receipts at the various banks in this city for the weekending week-ending Saturday May 23d amounted to 7026084 against 8403768 for the week previous They were distributed as follows Bu Well Fargo k Co 3 Bars Christy 5480000 Honerine ore 406000 1 gold bar Kentuck 700000 Total 1586000 By McOornick d CQ I 7 Cars Hanauer bullion 1770000 Queen of the Hills ore 530000 2 Bars Stormont 395000 10 bars Riter Tintic bullion 560000 Total 3255000 By Walker Bros 16 bars Alice bullion 1334372 i By T R Jones J Co 2 cars Germania 627105 1 car Nevada ore u 223607 Total 850712 Total shipments for week 7026084 The base metal and ore output during the past week consisted of 18 cars bullion 453772 lbs I 28 cars ore 792610Ibs 1 car copper ore 26300 lbs I 47 Total 1272682 lbs The Apex BoomCrescent Affairs Mr N Treweek superintendent of the Lead Mine in Biugham a principal stockholder and one of the directors of the Apex has returned from a visit to the latter property and a general run through the Park City camp He said m conversation with a HERALD reporter that to his mind It was only a question of a short time when the Park would be the biggest camp on the coast in addition addi-tion to the renowned properties now being worked there were a number of others of exceeding promise and the amount of new work being carried on throughout the camp was greater than at erties any as previous the Ontario season and two Crescent such prop to say nothing of the growing Daly are almost sufficient in themselves them-selves to boom a ramp and added to those there in the chances of the Sampson and Apex two properties f which are reasonably certain to make pines notlong in the future RegardIng Regard-Ing the boom in Apex stock Mr Tre week expressed himself eta loss to know What had occasioned unless it might be the comparative secresy with which operations had been for some time conducted con-ducted at the mine and the consequent suspicions ot some wiseacres who thought there was something vast being I concealed Forty cents is more than i would pay for the stock said Mr Treweek but neither he added would I sell my stock for that figure I The boom has not been inaugurated bye by-e present officers They have an entire control andas they holdsolelyon their belief in the future of the mine it is a Batter of indifference to them how the ftarket price of the stock rules As toe to-e mine itself I can say that it looks well extremely favorable But there is no use saying it has developed into a sure thing yet for it has not Some ore there is and quite a quantity has been taken out there will probably be some shipments made next month which will run 50 or 60 ounces and 35 or 40 per cent lead All the ore has been taken out from the upper tunnel which runs in a distance of 450 feet Work now is being pushed in the lower tunnel which has been run 1080 feet into the hillbut which will have1 togo to-go 300 feet further to strike the hoped for vein How long will that take About four months should say And if it is struck Mr Treweek smiled Oh then there is not much fear for the future The I vein it is thought will be the Crescent the Apex is about 1500 feetsouth of their workings you know Asked in regard to the probabilities of another assessment Mr Treweek said it was uncertain whetheror not onewould be levied it was the expectation that the shipments would pay off the indebtedness and keep the mine going twelve men were now working under the superintendency of George B Norman Nor-man an able and experienced miner and the force it was expected would be increased to fifteen or twenty There was a good deal of surface water in the upper tunnel which materially hampered ham-pered operations The present board of officers are Joab Lawrence President Charles Read Secretary and Treasurer and N Treweek E P Ferry SA Merritt William M Ferry and E H Murray Directors Mr Treweek was in the Park at the time of the Crescent directors meeting and in response to the query so frequently fre-quently put by local antiMichigan stockholders as to why no dividend had been declared he replied that he supposed sup-posed there had been nothing to declare it with TheCrescent was heavily in debt when the present management came in he said and 50000 in improvements had been made on the property since There was a good deal of ore on the dump but a good deal of it was second class A ten too engine had just been put on the tramway the twentysix cars held two and a half tons of ore each and there was now nothing in the way of some extensive hauling operations Crescent is held at 125 Apex has dropped and though there is unlimited talk on the street it is doubtful if 25 cents could be obtained The Honerine This excellent property continues its output and has mounted into the scale of dividend paying mines The New York Engineering and Mining Journal states that it has declared a dividend of 24 percent payable May 20th CJE Mitchener the present foreman of the Grand Jury has brought the Honerine to the degree of prosperity it now enjoys en-joys Stormont Transactions continue in a small way on the New York market Five hundred shares were sold at 09 cents Horn Silver The volume of transactions fell to 2500 shares between May 9th and 15th The Journal says nothing can be learned of the future operations of the company com-pany Alice 2dO is the latest quotation known 310 ul ton No quotations are recorded on the New York market I Ontario The 23 quotation wired recently to THE HEBALD and thought to be an error er-ror is undoubtedly correct the last number of the Engineer and Mining Journal quoting it at 2250 I Utah Knows Them Well One of the greatest curses to a mining camp and a hindrance to the successful success-ful working of mines is that prince of muckleheads known among mining men as the dude superintendent This article is in the shape of a man and some time in his past history probably had human ancestors He was reared in some down east State and spentproba bly fourteen weeks in studying geology The strain upon his brain was so great that the family physician decided he should be sent to another climate to recuperate His papa purchased apiece a-piece of mining property and the dear boy is sent to take charge of it Arriving Arriv-ing here he buys himself a suit of miners clothes to let the people know he is not proud and yet he is always careful to leave the tip end of a red silk handkerchief hanging out of his side pocket He meets men who have spent a lifetime in the study of mines and mining and immediately proceeds I pro-ceeds to instruct them He sometimes wears glasses and always has afar away doses look about him that might keep his mouth shut He regards the working miner as an inferior and is always careful to speak of his own fine form and his brilliant career in college His fathers pocketbook is made to open regularly each month to pay the price of his projects the mines and he is always anxious to have his name appear in the local paper when he go sup s-up to the mine or returns Eventually he is sent for and goes back home leaving no void in either the social or business world he has tried to fill and in which he rattled These things should be kept at home in the first place They would make far better bookkeepers for a chicken hatchery than superintendents superinten-dents of minesColorado Miner Denver Behind A meeting in the interest of bimetallism lism was held in Salt Lake on Saturday night and efficient steps were taken to help the National Bimetallic associa tion It is a shame that the people of DenverTiave shown such laxity in this matter The prominent men of the silver proaucing region should be unceasing ceasing in their efforts to spread the gospel of free and unlimited bimetallism Denver News 20th |