Show t FINANCE AND MINING The Chamber Meeting and Its Results I ORE AND BULLION OUTPUT j Lead Steady and Bllverlnactlye Outlook ITor Cattle Kaisers Business Busi-ness East and at Home j to t The main topic in business hauofo during the week past was the annual meeting of the Chambenpf Commerce The results have been quite satisfactory satisfac-tory and we believe they will have the effect of reviving the interest that should exist in this body There can be no question but the Chamber has been a power for good even the delinquents de-linquents admit this the only question with many was the methods employed in bringing about the results That there was some dissatisfaction with the old board there can be no doubt and it was with the idea of having all members attend and air their grievances griev-ances such as they had in the proper place that we urged a full attendance That all interest in the Chamber and its future was dead was disproved we think by the animated scenes on election elec-tion night and the night following and while the meeting was a most spirited one and discussion was freely participated partici-pated in yet there was a general good feeling all around As THE HERALD has before said the new board is a good one It ii quite possible that there are some who will have objection L L H L so mae to it out sucu wuuiu utiyc been the case no matter who had been l selected for the positions If those members who have hitherto held aloof because of real or fancied grievances against the directors or other officers of the Chamber will unite in sustaining and encouraging the new directory we may confidently expect good results to follow The work of the past year has been merely preliminary it was but the re connoitre the skirmish before the battle which is just beginning and it must be fought with vigor and earnestness earnest-ness if we desire to win There are many things to be thought of planned and executed and these should make the office of the directors no sinecure Indeed it may be said that the worktb be done this year is of a higher grade and the duties of the new officials will be of a more responsible nature than ever before There is the usual lull in business circles alway3 prevalent at this season of the year Compared however with a year ago the outlook is far more encouraging the signs of a healthy revival are not nearly so remote About ten cars of ore per day is now coming from the Tintic country This is a slight falling off as compared with November and December but the railways rail-ways report that the tonnage is gradually gradu-ally nearing the standard of the two months named It is and has been a hard fight that of introducing American inventions and ideas among oar cousins on the other side of the Atlantic That some progress has been made however is evident from the following taken from an English trade journal Whatever may be the opinion of those who cavil about foreign productions everybody is agreed that our American cousins are gifted with a large measure of mechanical I mechan-ical ingenuity and the style and manner man-ner of the goods they turn out have been imitated all over the world In many cases not only have the specialties special-ties brought over here possessed the merits of handiness adaptability and finish but their price is favorable also and it needs no great powers of understanding under-standing to perceive that with such a combination the public readily appreciate appre-ciate and persist in purchasing them The Enterprise Manufacturing Company Com-pany of the United States has intr duced many of its specialties The I Shipman engine is making excellent progress its application to steam launches and other purposes where petroleum fuel is esteemed as a substitute sub-stitute for coal on account of its cleanliness clean-liness and quick action in raising steam finding much favor A large trade is doing in crucible cast steel hay and manure forks the character of which is fully established for reliability and durability and this is also the case as regards ash and hickory handles scythesnaths hay knives oilstones and scythestones American hatchets and axes are likewise systematically pushed Selfacting blindrollers find a steady sale and in American woodenware wood-enware clothes pegs washboards i broom handles wood benchscrews washing tubs and pails the outputis very large indeed Silver is almost stationary It varied but a fraction during the week Yesterday Yes-terday the quotation was 92 Lead has not varied materially since last week At New York the excitement excite-ment of the week was concentrated in an auction sale of 830 tons sold to cover advances made by bankers to the bankrupt bank-rupt firm The sale attracted all the speculators and consumers and the bidding was very lively up to about 382U after which point it was reduced re-duced to two bidders and finally was sold at 3 86 for 390 tons and 38534 for 500 tons After that a few hundred tons were sold at 3J 90 but the demand was thenTsatisfied and the week closed with 3 80 bid and 390 asked At St Louis the price ran from 350 up to J I l t 360 under sales of about 500 tons and at Chicago 3 GU was oaid for 300 ton more The entire field looks firm but quiet Stocks in New York have not diminished to any perceptible degree and miners can scarcely look for any radical improvement until this stock gets reduced The English market has been steady at and around 13 Lead closed a week ago in Salt Lake at 385 on Monday it rose to 390 and yester day was quoted at 385 i The first shipment of ozokerite from the Pleasa Valley mines has been made A small force of men will be Employed on the mines all winter Inquiries In-quiries in regard to this Utah resource have been received from all parts of the United Sfcatrs one juquirj camefrom Naples SThese mines are the only ores of the kind in the United Statesand cannot faiffo prove veritable bonanzas for their owners An opinion has just been rendered by the United States Supreme Court of interest to beneficiaries of life insurance insur-ance policies It was sought to diver the proceeds f a life insurance policy to toe payment of the debts due creditors credi-tors of tbe party insured who was insolvent in-solvent on the grounds that the premiums pre-miums paid were a fraudulent transfer of an insolvent estate The Supreme Court very properly holds that the beneficiaries are entitled to the proceeds pro-ceeds of all policies without any deduc tion whatever on account of premiums paid that a husband and father has a full right to insure his life in the interest inter-est of his wife and children and that where such policies are effected in the name of the beneficiaries they are no part of the estate of a deceased insolvent insol-vent and cannotbe regarded as a fraudulent fraud-ulent assignment of any part of his estate The outlook for cattle raisers is better bet-ter now than it has been at any time since 1882 says Colonel J T Hill a veteran ranchman largely interested in our neighboring Territory Idaho The trouble has been and is yet that there are too many cattle instead of not enough as some of the ranch owners are trying to make themselves believe You cant buy yearlings at 525 a head and sell them as 3yearolds at 20 to any advantage he continued dryly Why when I was a boy twentyfive years ago we had an idea that the fel low who couldnt make money in cattle wasnt worth killing grass was free and water was free and all we had to pay for were horses aud men to run the cattle and a few groceries for them Then a lot of eastern capitalists came in there saw us making money and without possessing a thimbleful of cat i tIe sense thought that they could make money too They would go to a Texan ranchman and ask hioi how many cattle he had and hed tell them 5000 then theyd say How much a head and hed tell them 20 So they would up and pay him 100OuO for 2OUO head or 50 apiece thinking they were getting 5000 cattle and the consequence con-sequence Was when they come to mar ket the cattle theyd find trouble get ting their 50 out of them Now that aint the wayL do I buy the cattle common red steers is good enough for meat6 and7 a head then theres a chance to make a few dollars Why I am buying cattle now down below Fort Worth for 5 a head and am tak ing all I can get to be ready for next springs market I aint got any quar rei witn Armour or JNels Morris or Swift or any of those fellows who are buying my cattle i if theyre worth so many millions I calculate its because theyre just that much smarter than I am It there wasnt so many cattle the Big Four would have to pay more money far emthats all But cattle are going to be scarce enough for the next couple of years to suit the cattlemen cattle-men I promise youonly those who have mortgaged their herds to pay 25 for yearlings that aint worth much more than 20 as 3yearolds now wont Jet much satisfaction out of the rise And another thing I want to tell you Im done with this tomfool convention business carriage riding champagne suppers and soforth Thats where our downfall bran in 1884 We couldnt be satisfied because we were making a little money but had to let everybody know our business Thats what played hob Colonel Hill was waxing earnest and eally used a sUffer word with us Now when theres another convention I m going to get just as tar away from i t as I candown among the cheap cat t le buying for a raise I tell you there are good times ahead for us yetor uch of us as are willing to stay home and tend to our business So far the new year has shown no particular changes in business prospects pros-pects in the east A hopeful feeling feel-ing i everywhere pravails and at the same time the nature and extent of retarding influences are more clearly recognized Prominent among these are the unseasonable weather which prevents the usual distribution of many products j the disposition of the farmers to hold back products speculative specu-lative reports having created a hope of much higher prices The unusually open winter the average easterner is I always unhappy at this season of the I year unless he can indulge in the luxury lux-ury of a blizzard or two each week makes it difficult to get products to I market and is especially disturbing to the great lumber trade of the northwest north-west In spite of these influences reports re-ports of the condition of business are generally favorable The growth of manufacturing at many western points is a notable feature Thetardiness of collections is a matter of general com plaint The volume of currency practically unchanged during December Decem-ber is now 1406 millions only 1500 K0 below the largest ever recorded that ofjDecemberlst The annual statement state-ment of failures showing that 10679 firms or a trifle more than one in one hundred went into bankruptcy in 1888 i3 on the whole especially encouraging because the average of liabilities was tit < < f only 11595 for the year and 10738 for the last quarter This indicates that a remarkably large proportion of the failures reported was of concerns doing a small business Oa the other hand the number for the last quarter was about the Jar > est on record and there are other indications that the existing state of things operates powerfully to crowd out the smaller and weaVer traders It mav be noticed too that throughout the Western and Southern States Texas excluded tho failures were both more numerous and larger in aggregate of I abilities than in the year preceding while in Eastern Mid dle andPacific States an important decrease de-crease in amount of liabilities appears and also in Texas The business failures occurring throughout the country during the last seven days as reported by E G Dun Go number for the United States 359 ana for Canada 28 or a total of 387 against a total last week of 299 and 311 the week previous to the last and 279 the corresponding week of last year Failures are usually numerous numer-ous at thid season of the year tor a variety var-iety of reasons but 337 in one week is probably the highest number ever recorded re-corded in this country in that period of time Ore and Bullion The ore and bullion receipts at the various banks in this city for the weekending week-ending Saturday January 12th were 8459000 as compared with 6026291 for the week previous They were reported re-ported as follows ByMcCornick Co Hnnauer Bullion 5 6800 CO Silver and lead ores 3935000 Total 4615000 By Wells Fargo Co Base bullion 35C40 00 Ores 34COOO Total 83440 00 Total shipments for the week 84530 CO The ore and bullion output in pounds over both roads was as follows POUNDS 9 cars bullion 249741 SO silver and lead ores 1011600 2 II Copper ore 119600 43 cars 1380911 The Week At Mr Hanauers office the week was reported as a fair one only The Ontario Daly and Woodside were the only shippers from the Park the Cottonwoods Cot-tonwoods were not heard from Bing ham showed but faint symptoms of life while Stockton appears to be dead and buried The Horn Silver is once more heard from Besides the shipments ship-ments given below several small lots came in from Nevada Woodside i Three hundred tons of the usmJ grade of ore came in from the Wood J r side bonanz i at Park City Since our last report extensive work has been done and a tunnel large enough for three men to work abreast is being run Everything is in ore and each days work only goes to prove the permanency perma-nency of the vein The Lend Mine This neverfailing shipper sent its usual weekly output to the Hanauer TFinamuck One carload came in from the Wina muck It went 65 silver and U gold i BullionBeck I A lot of BullionBeck was in the hands of the assayer yesterday Eureka Hill is filling a lot Born Silver After a sleep of several weeks the Horn Silver sent in three lots aggregating aggre-gating about 300 tons The assay was not given yesterday The last quotation quota-tion on record was SOc Highland Fifty tons of ore going 46 lead and 1C silver sold for about 20 Buciihorii One carloaI going 44 lead 24 silver and some gold came in from the Buck horn Ontario A few shares have changed hands in the New York market at 325Offl 32 70 Alice Alice was a little higher in New York last geek It sold from 90 cents to 1 Anchor A few shares are reported at 525 The Crescent The latest figure was 373g The Daly The last quotation was 17 |