Show r FINANCE AND MINING L f The Proposed Site For a Chamber Building STATE OF SILVER AND LEAD Ore and Bullion Output News From Many Mines The Cattle Market Mar-ket Wheat and leur Tha board of directors of the Salt Lake Chamber of Commerce will receive re-ceive sealed proposals for ground upon which to erect a Chamber of Commerce building up to the 11th of this month the right to reject any and all bids being be-ing reserved As stated heretofore if the site offered be a corner which is preferred the dimensions must not be less than 50x125 feet if an inside lot i nit less than 50 feet front and from 150 I to 165 feet deep with right of Yon Y-on one side The cash price of the ground must be stated together with the amount of money adjacent property J prop-erty owners will donate toward purchase pur-chase of lot and erection of building The sites offered must be within two blocks east or west of Main Street and between Soath Temple and Third South Streets The building is to be of brick and stone or either and not ICES than three stories high exclusive of basement There are dozens of sites within the area mentioned any of which would prove eligible for the purpose pur-pose named It is also true that the selection of either one of these by the directors will have the effect to increase values within the immediate vicinity Taking this view of the matter there will ba no little activity among proper prop-er y owners within the area mentioned during the time intervening between now and the 11th Several ver liberal t propositions that will be submitted tot to-t the directors have already been seen by a HERALD representative and if any propertyowner is desirous of going these one better he must come down to bedrock The real estate sales for the month just closed were more than double those for the same time daring the previous year and nearly four times as great as those of 1887 The Salt Lake stock market is in its normal condition dull flat stale and of such uncertainty as to cause quick sales and light profits to be the rule The transfers during the week during many weeks in facthave been few and of little note Lead has been quiet almost to the point of lethargy sales at the various f distributing points not much exceeding 1000 tons New York showed a featureless decline from 385 to 375 based chiefly on the fact that buyers were full and needed no further supplies sup-plies while at St Louis the price declined f de-clined from 360 to 355 with no bids at the close above 3 50 The general situation remains unchanged The surplus stocks are reduced but slowly and the only present hope is such a curtailment of domestic production alto al-to bring about a healthier relation of supply and demand London has stood without change at 12176 Closing a week ago in this city at 380 it held that figure for a couple of days when it fell to 375 Silver has been a trifle stronger We have received a copy of the charter of the International and Mortgage Bank of Mexico which is to have off es at New York London and Mexico and can emit certificates of deposit for silver or gold coined or in bars to individuals in-dividuals or to bearers and payable at sight They also have most valuable privileges from the State of Mexico and bid fair to pay very large dividends and they must have 800000 paid in before be-fore beginning operations Most all of the stock has been taken up The peculiar pecu-liar feature of tire movement is that it tends very strongly to carry the silver supremacy away from London and to place it in the hands of the American flange of prices for the week from 923 to 93J4 cents per ounce In Salt Lake silver closed at 93 a we k aeo rose to 933 and yesterday it was 92X The Millers Association of St Louis has issued a private circular for distribution dis-tribution among the members which gives the following information regarding regard-ing the amount of wheat and flour on hand in six StatesMissouri Kansas Illinois Indiana Ohio and Michigan and also the condition and acreage of the growing wheat crops of these States The reports come from 154 winter wheat mills The amount of Wheat held by these mills is placed at 19000000 bushels more than one year A ago and of flour 200000 barrels or 60000 barrels more The average acreage acre-age of wheat planted in Missouri is 100 and its condition 100 Illinois is 98 acreage and 101 condition Kansas is 144 acreage and 100 condition Other States average 93 In acreage and in fair condition On the amount of wheat in farmers hands Missouri reports it larger three States say about the same and the others say smaller A number of cattlemen representing most of the large cattle interests of the west are in Kansas City for the purpose pur-pose of forming a combine for doing away with the expensive commission system and handling their own stock I According to the Chicago Tribune the I lowest cost of getting cattlo ready for market is i cents per pound AnA An-A 4L4 t average bullock weighing 1000 pounds cost the producers 25 He is sold for 30 which gives the raiser 20 per cent profit After passing through the slaughter house his hide meat tallow etc are sold for 37 a profit of 23 percent per-cent Then the retailer takes the 500 pounds of dressed meat for30 He gets 18 cents a pound for choice cuts and an average of 7 cents for the rest making a total of 4875 an advance of more than 60 per cent It is not by any means an agreeable matter of record that the prices of all kinds of live stock are just a little lower now than at the same time last year This is of less consequence in hogs which are still selling at fair figures and in sheep which are now showing every indication indica-tion of improvement but in cattle it is naturally a source of some apprehension apprehen-sion It will be remembered that cattle started into the year 1888 at a slight advance i ad-vance but that the improvement was lost before it was well established This year the decline begins a little earlier and whilo probabilities do not point to still lower figures they certainly do not indicate an immediate recovery from the depression now existing The position of cattlemen in the next few weeks can only be defined as a waiting on and their anticipations are tinged with no small degree of uneasiness However there are still grounds for hoping that the fears now entertained by many will not be realized The Coeur d Alene country is again attracting no little attention A correspondent cor-respondent writes that this section of Idaho will yet assume great proportions propor-tions and will have considerable to don do-n making that Territory what she claims to be the Gem of the Moun taine By the decision of the United States Supreme Court in the Bates Refrigerating Refriger-ating Companys case the Edison Electric Light Company has scored an overwhelming victory over all its rivals i I and the result would seem at present writing that the Westinghouse Com pany the SawyerMann Company the United States Electric Lighting Company Com-pany and all others using the incandescent incan-descent system will have to stop opera ions and pay heavy damages for infringements in-fringements The ruling of the court which will have this farreaching effect was telegraphed over the country in such a shape that its true bearing was apparent only to the interested few It was to the effect that tho life time of an American patent first taken out in a foreign country does not expire until the extreme limit for which an extension exten-sion of patent may be secured in the foreign country This question is of andamenal importance in connection with the status of the Edison Company and the case was raised and carried through the courts at the instigation of the company to serve as a test The Chamberlin Bell Donnelly and Steinwitz the Lucky Strike Silver Chord Iroh Dollar Eagle Town Tiger and the Chloride Fraction prominent claims in the new Chloride district near Lake Pen dOreilJe a new discovery I in the Kootenai district Idaho have I been bonded for 250000 Ten thousand sand dollars have been paid down and the balance is to be paid in October next The mines are located in the mountains and comprise different looa tions with placer claims mill sites and water rights The ore is antimonial silver free milling and on the surface shows assays from 17 to 600 per ton It is a comparatively new discovery but gives every evidence of being a veritable bonanza The workol devel opment will begin at once The state of trade in the east ii unusually un-usually perplexing for with general complaint of dulness there are evidences evi-dences that the volume of transactions large The payments through banks last week were 25 per cent larger than for the corresponding week last year at New York and Ifi par cent larger at all other cities and while speculation in stockS and products accounts for much of this increase and another part is but a reflection of heavy business busi-ness done last fall the gains appeared at so many cities and are so large that the new transactions of the week can hardly have been below last years mark Railroad earnings also show that traffic is large though apparently bat little in excess of last years The demand for money is sufficiently active at nearly all interior points moreover to indicate that a large business is in progress Yet it is undeniable that the prevailing temper is one of disappointment disappoint-ment at the results of business singe the new year began and this is nut wholly explained by the steadily declining de-clining prices of products The reports re-ports tram commercial centres are far from Gloomy Much of the existing appointment is undoubtedly due to tne arrest of railroad building and the stoppage of wheat export which are traceable to specuative influences The decline in wheat continues the price having fallen 2 cents for the week The record of 120 for wheat October 8th looks rather absurd in the light of subsequent events but at the prices reached this week 933 to 93l cents there has been some buying for export though not as yet for Great Britain There is little activity in groceries but the sugar iglarket favors holders though the estimates make the worlds production 5240000 tons against 4045000 last year The general average of prizes has fallen 8 of one per cent for the week and more than 2 per cent since January 1st with little prospect of an upward movement at present In the financial world there has been no disturbance thbugh a small shipment of gold to Europe and a large defalcation by a financial agent of aleading insurance company have occurred The supply of money here increases both by remittances from the interior and by excess of Treasury disbursements over receipts which reached 1700000 for the week The foreign trade at this port continues con-tinues to improve and while imports thus far this year exceed lust years by 4 per cent the exports of merchandise I from New York snow a gain of 11 percent per-cent for three weeks Lower foreign exchange would naturally result but for the weakness in stocks and the sales of securities on foreign account But with many depressing events d anre ports the stock market is nevertheless so firmly sustained that the average decline in prices has been only 60 cents per 100 for the week and the later tone has been more hopeful The business failures occurring throughout the country during the last seven days as reported to R G Dun Co number num-ber for the United States 310 and for Canada 32 or a total of 342 as against a total of 387 last week and 381 the week previous to the last For the corresponding cor-responding week of fast year the figures fig-ures were 269 for the United States and 48 for the Dominion of Canada Ore and Bullion The ore and bullion receipts at the various banks in this city for the weekending week-ending Saturday February 2d were 14583596 as compared with 5901500 for the week previous They were reported re-ported as follows ByMcCorniek do Co Hanauer Bullion 117750 Silver and lend ores 63S76CO Queen of the Hills 105000 Total 76200 00 By Wells Fargo Coi Silver and lead ores I 54 04G6 Base bullion 475000 Total 5379661 By T B Jones d Co Silver and lead ores 1083935 Total shipments for the week 145835 96 The Week At Mr Hanauors office tho week was reported as a big improvement over several weeks past The Cottonwoods are of course as noiseless as the Sphynx Bingham St ckton Park City Frisco Pioche and some portions of Nevada were heard from BullionBeck One lot of firstclass and one lot of secondclass ora came from the Bullion Beckabout 350 tons in all Eureka Hill f The 1200ton contract recently made is being rapidly filled The Mammoth Latest advices from the Mammoth are to the effect that she is shipping large quantities of rich are Ontario is held firm in the eastern marts at = 35 Daly We have often been applied tcflor quotations of the stock of the Daly MIning Company of Utah which by the regularity ofits dividends and from its apparently conscientious rush ag nent has attracted considerable attention at-tention The stock is not listed on any I of the exchanges but it has been sold in this city privately at about 1650 a shareNew York Enqinctring and Mining Journal Tho Woodside Regular ehipments of fifty tons per day come in from that wonder of the west the Woodside The ore holds its cwn wellvarying from 40 lead and 40 silver to 45 lead and 45 silver The Alliance The Alliance formerly tho Sampson has been reincorporated the capital stock being placed at 100000 divided into 1600 shares of 100 each All of the stock has been subscribed for and 50 cents on each share was paid on February 1st The remainder is to be paid in five equal payments of 10 each The Brooklyn Three hundred tons of first olass gnd secondclass ore represented the Brooklyn Brook-lyn l The Lead tIne The only shipment from the Lead was made in secondclass ore R The Tuba One carload going 48 lead and SO silver sil-ver came in from the Ynba The Clipper was represented on the Salt Lake market mar-ket by one carload of ore assaying 48 lead and 30 silver New Last Chanco was again a shipper last week The ore assayed 10 lead and 40 silver It brought about25 about p Alice Latest NewYorkqnotations to 76 Horn BIhar Our New York exchanges report Horn Silver as neglected to 83c per share Three hundred tons of the I usual grade were shipped during the I week I The Saratoga I Twenty tons going 45 lead and < 15 silver brought 1750 per ton f a hOne Chicago One car load from the Chicago went 5 lead and 53 silver Silver Shield Twentyfive tons represented this property it assayed 35 lead 24 silver and brought 20 Crescent The Crescent1 filling lot and it will ba on the market shortly Anchor The usual 10 cents assessment on I Anchor stock has been announced It is delinquent on the 3d of March |