Show FINANCE AND MINING I In Business Hannta During the Past Week NEWS FROM MAX MIXES Ore and Bullion Output An Increase Lively Time Ahead Gold in Solution General Notes There is nothing of a startling nature to be said of the transactions of the past week in business circles That trade has been fairly satisfactory however how-ever cannot bo doubted if one is to believe the reports received by THE HERALD representative from various qnartew yesterday There is complaint com-plaint however tnat collections are somewhat slower than usual at this t time of the year and remittances from the country do not come in with the promptitude that could ba desired The causes for this latter have been fully explained before and but little improvement may be expected in this regard at least for some time As will have been noticed from the reports of trade in the east published from weok to week in these columns the volume of business transacted in the larger cities near the Atlantic seaboard is not such SB to be entirely satisfactory satisfac-tory although indica ions point to a revival in the near future With the east in this condition Salt Lakes business busi-ness men should find no cause for complaint com-plaint Inquiry yesterday among the leading lead-ing shippers revealed the fact that but little grain is moving Farmers said on dealer are holding grain too high especially sois this the case with oats which we can now import at a little less than the figure the Utah grain ii being held at There is bound to be a decline and that very soon possibly before some of us are prepared for it The money market is close loans being be-ing made only on the most approved security and at 10 and although it was stated yesterday that a loan of S10000 with real estate for security went at 8 The local stock market has exhibited symptom of life within the past few weeks and will be an object of interest again ere long But few shares exchanged ex-changed hands during the week the prices at which the various stocks were quoted are given below Lead still continues to feel the recent attack made upon it by the bears in the eastern market It opened last week at 475 yesterday it was quoted at 47011 decline of 5 cents uuring the past seven days Silver declined threefourths of a cent during the week Yesterdays quotation was 93 The latest advices concerning Utah mines in the London market are to the effect there is still a lingering faith in regard to the Emma that this mine will justify the tenacity with which the English have held to them and the writer adds I trust that this may be the case for it would certainly give a tremendous lift up to American mining min-ing as it is viewed from these shores I Flagstaff despite the benedictions pronounced pro-nounced by Professor Vincent is once more in straits fer money and It is proposed pro-posed to reconstruct it One of the vessels recently arriving at Astoria Oregon had on board a bar of iron weighing five or six pounds which had been towed astern for about five or six weeks in order to test the statement that gold exists in sea water When placed in the water in the wake of the vessel the bar was clean and I polished but when taken on board it I was literally covered with a film of I silver copper and gold Commenting on ths occurrence an authority says i It has been long siuce known that gold was held in soluion in the oceansnota bly in the western shore of the Pacific Ocean Some five years ago several analyses were made in San Francisco of the sea water alone the coast with a view of ascertaining if there was gold in it The tests resulted in conclusively Droving that there were about three grains of gold per ton of water Farther tests were made from water taken from various distances from the shore which showed that the gold in the water became less in proportion to the distance reached towards midocean from land Gold is not only found in sea water but it is found throughout the vegetable kingdom A theory long held is that gold is not found in a chloride state as the result of natural chemical action and this too in the face of the fact that the reduction of gold into chloride is a thng common to ordinary chemists We hold that there is nothing known or ever will be in chemistry which has not been and is being done in natures great laboratory In conformation of the foregoing we have seen a large piece of quartz said to be from a gold region of Georgia which contained gold in a chloride form We made tests from pieces of it resulting in not only convincing us that the precious metal contained in it was a chloride form but that it would volatilize I vola-tilize as readily as that found in connection 1 con-nection with tellurium f From Tuscarora comes the announcement announce-ment that extensive developments are being lade in that district but the greatest drawback is the lack of reduc tion facilities This will be overcome however during the present y ar by the erection of very extensive works by the North Bell lle Company whicn will have capacity sufficient to handle the ore from all thi companys mines In order bowavtr that there may be levied of no more assessments some the companies are shipping tueir ores to this city for reduction The North Bell isle is the only miie in the district payi g dividend at present The recent decision of the Supreme Court of the State of Colorado in the caso of the Little Pit tsbur vs Little Chief Mining Companies of Leadville is of interest The suit was originally brought by the Little Pitisburg seven years ago to recover the value of ore taken from the ground of the plaintiff company by the defendant and judgment judg-ment was obtained for 32000 The Little Cruel set up a counter claim of 70000 for ore taken from its ground by the Little Pittsburg nod on the appeal ap-peal this claim wa allowed causing a jut ment of abo it 10000 in favor of toe defendants against the plaintiff One placer mine in Alturas County Idaho located a couple of miles below Salmon Fall is yielding about 1000 a month six men being employed It i5 the only claim patented in the county and it is estimated that with the present water snpply it will not bo exhausted for neariy twenty years Some of the residents of Manti Sanpete County have baen doing considerable con-siderable prospecting in the neighborhood neighbor-hood of Lost Creek of late with the result of discovering and locating what would appear to be a bonanza and whicb if very extensive as claimed will revolutioniro matters in the southern south-ern county The ore so far extracted contains a large percentage of copper and an assay shows a value ot over IOC per ton The sample from which the assay was made was taken from a depth of ten feet Work on the newly discovered dis-covered property has been commenced in earnest and the owners are sanguine that better results will follow as depth IS attained If dulness in trade were always a bad sign the present outlook in the east according to the late3t advices could not be called hopeful At only one or two interior points is the actual business busi-ness transacted satisfactory in volume i nearly all report comparative inactivity i in the Dresent with hopeful anticipations anticipa-tions though at several points a considerable con-siderable slackening of trade is now noticed Money has become tight at some western and southern points the complaints of poor collections being much more frequent The clearing house returns for the first week of April which include large deferred payments as well as s quarterly settlements settle-ments showed a gain ot 8 per cent over last year outside of New York but curreat transactions do not increase to that extenr if at all The inactivity has caused a yielding in general prices notwithstanding a slight advance in some speculative markets The government report showing injury in-jury to wheat was the occasion of a sharp advance breadstuff and wheat is still 2 cents higher though it has lost part of the gain anu corn gains also but oats closed no higher than a week ago A Chicago corner in pork bled some snort sellers but prices quickly reacted Cotton is a shade stronger for though the crop alreaay in sight exceeds the entire crop of last year and the falsity of short crop estimates is proved receipts are now falling off Exports last months were 151000000 pounds against 232000000 in March 1887 Oil has risen 3 34 cents and ux ports last month were 47000000 gallons against 43000000 last year Sugar has also gained a traction but coffee is uncertain un-certain and by some shaded to secure trade ana teas are slow and hesitating Butter is weak eggd lower and beet does not improve In the dry goods trade there is on y a moderate business with tome cutting to secure transactions Prirt cloths have aeclined to 33 cents and the tone seems weaker for cotton goods generally gener-ally except for the most favored makes In woolens no change appears ana the weakening wool market distinctly reflects re-flects the disposition of manufacturers to confine purchases to present neeis A large sale of Ohio XX at 29 is reported re-ported The boot and shoe trade continues con-tinues more active and cheerful than most others and the demand is good but prices realized are slightly lower Leather is quiet with a fair volume of trade and heavy sales of selected South American hides at 16 to 1GJ are reported re-ported Rubber is very firm at 78 for Para fine The report of iron furnaces in blast April 1st indicates a slight increase sines March 1st the capacity of a few large furnaces which huve resumod ex ceding that ot the more numerous furnaces which have ceased pruduction But it is reported that a further decline this month is to be expected The demand de-mand is so far satisfactory that the i Thomas Company report sales as large I as last years to date and other concerns con-cerns report fairly liberal sales but the offering of southern iron at 19 to20 for No 1 and 1G toL6 50 for No 3 still disturbs the trade Sales of 20000 tons steel rails at the east and 10 000 at the west are reported at unchanged prices but bar iron is low and irregular on account of western offerings wire rods and wrought iron pipe are lower and nails are slow the Western Association having virtually reduced rates far below be-low 20d The stock market after some rise and reaction stands precisely where it did a week ago Large foreign purchases of bonds are constantly coming out and there are signs that foreign buying exceeds selling of stock but the ending end-ing of the strike does not restore harmony har-mony among western roads Eastern trunk lines have met without action on the complaint that export rates worked unfairly aud suits are commenced com-menced for unjust discrimination in eastern dressed beef rates based on the allowance to the Grand Trunk The Treasury has decidedly helped the money market the past week paying out 2800000 mere than it baa taken in I I and foreign exchange is unaltered But tbe exports of last month evidently were much behind last rears the loss being 20 per cent at New York and 270000 in values of oils and cotton from all principal ports while imports at New York were but five per cent lower last month than for the same month last year and for the first week of April show a heavy increase The business failures occurring throughout the country during the last seven days as reported to R G Dun Co number for the United States 2CO and for Canada 22 or a total of 22 failures as compared with 227 last week and 223 the week previous to the last For the corresponding week of last year the figures were 175 failures made up of 146 in the United States and 29 in Canada Ore and Bullion The ore and bullion receipts at the various banks in this city for the weekending week-ending Saturday April 24th 1888 were 10950277 as compared with 8t 92744 for the week previous They were reported as follows By 3fcCornick c Co Hanauer bullion 11700 00 Silver and lead ores 20800 OJ Queen of the Hills ore 147000 Total tl3y7iOJ By T R Jones c Co Germania bulion 15090 51 Silver and lead ores 11265 20 Total 26355 77 By Wells Fargo fr Co I Ore 3540500 I Fine bars 33774 tO Total o 6917700 Total shipments for the week 109502 77 At Mr HanauerB Office the week was reported os being considerably consid-erably better than the one previous Bingbam Stockton Park City Idaho Nevada the Cottonwoods and several minor places were heard from In Park City ttiH roads are rapidly improving im-proving Save for the shipments named below the Cottonwoods are quiet Increased shipments may be looked for from all quarters from this time on The Lead Mine sent to the smelter its usual shipments of roast ore concentrates The Brooklyn shipped several lots of oarbonate and galena ores of the usual grade The Spanlli Several lots of ore of various grades aggregating about sixty tons in all were received from this property during dur-ing the week The Yosemite Colonel Kaigbns property shipped sixty tons going 39 lead and 12 silver ana bringing J20 Yosemite No y Sidy tons going 50 lead and 7 silver I were shipped since the last report The ore brought20 per ton I The Miners Dream Fortyfive tons of 20 ore represented this property Ihe South oaleaa One hundred torn assaying lead 33 silver and Bounce gold were sold during the week bringing about tE5 The Lucky Boy sent in a 20ton lot going 15 lead 110 silver and ounce gold One hundred per ton was the price paid for it The Silver Shield Twenty tons showing 51 lead 22 silver and a small amount of gold brought the owners 35 per ton The Steamboat This mine owned by the old Jordan Mining and Milling Cmpnny after along a-long silence was again heard of in the Salt Lake market From it came one carload of ore low in lead and silver but carrying 17 ounces gold It sold for 300 per ton The Monarch The Stockton mine had twelve tons showing 17 lead 44 silver and X ouncj gold It add for 3750 The Onondaga Fifteen tons came in during the week It went 51 load 10 silver and netted the owners 105 Tho Mayfield W F James Cottonwood property sent in a 70 ton lot which brought on the market HO per ton The SIskiyou Mackintosh s Siskiyou sent in one carload car-load of ore showing 33 lead and 28 silver It sold for 25 The Sampson One hundred and twentyfive tons of second class oreI lead and 30 silver brought 10 Frank Foote had another carload of the Tuscarora product running away up to 414 silver aud bringing nearly 400 per ton BullionBeck was represented as usual the shipments going to Hananer The Eureka Hills Hill-s shipping lively now but all the ore is going east Thu Horn Silver Two lots of ore aggregating ninety five tons came up during the week fiftyone tons of it brought 2880 and fortyfour tons 2360 per ton I Queen of the Hills Mr Conklin who has but recently returned from the Wood River country was seen by a HERALD man yesterday 5e reports the Queen as making a most satisfactory showing and says the out look is very bright indeed Shipments are now being lUll de regularly The Triumph This property in which Conklin Park Swift and others are interested is situated about eight miles from Hailey and the latest advices are to the effect that everything s booming It is regarded as one of the best properties on the river Tho Minnie Moore also gives forth very good reports In fact there is every reason to believe that the present year will be an exceedingly exceed-ingly prosperous one in the Wood River section The aiadsauhufcctts Ecconraging reports continue to come from this mine and the owners are jubilant as a consequence Apex was quoted during the week at 30 cents but no sales were reported The Lone Tree Tke Salt Lakers who were at one time interested in the Lone Tree Companys mines located on the Dolores River in Montrose County Coland who recently re-cently disposed of their interests received re-ceived another instalment of the purchase pur-chase money a few days ago The Union Tho Union Mining Company held a meeting at the offico of Arthur Brown on Tuesday Tho following officers were elected PresidentArthur Brown VicePresident Franklin Jones i Treasurer W S Pickard Secretary Frank Hoffman Another meeting will be held tomorrow when an assessment assess-ment will probably be levied Tin In the Black Hlllg The interest felt in the development of the tin mines grows apace and with good reason too as each day brings a letter of inquiry from all parts of the United States asking for information concerning our tin The Black Hills are on the eve of mining operations of unusual magnitude and will witness a season of great prosperity in the development de-velopment of our natural resources In the commencement of this prosperity and activity tin is undoubtedly the most important fator It will set in motion the entire machinery of the hills I It will call in millions of oubtandirg capital not only for ita own development develop-ment but for the development of other mineral resources which are so numerous numer-ous in the Black HiJlsRx |