Show FINANCE AND iMG II The Rapid Rise in Silver Creates I a Better Feeling HIGH GOLD FINDS NEAR PROVO I American Fprk Mining Properties Ore and l Bullion OutputEureka Needs a Bank jtneral Notes The one event In business circles during tho week has been the rise in silver Although it closed a week ago at 1001 I the highest point reached for a number of years past Monday morning saw a decline to 993 on Tuesday 981 was the figure and those who are directly interested began to fear that tho booiR1 was over On Wednesday howercr the metal regained Its closing figure of Saturday last and on Thursday it rose to 103 and yesterday was quoted at 103K As a result there is considerable con-siderable jubilation among miners and mineowners who think they begin to see the dawn of better daysa return to the I good old times when 120 was the figure Lpad as will be seen from our quotations below has held very steady There has been the usual volume of business busi-ness during the six days just pasta slight increase it is stated over that of the week previous and the seasonable weather of yesterday has given an impetus to the spring trade which will fairly boom during dur-ing the present and succeeding weeks if the present weather continues The ore shipments are not as heavy as is usual at this time of the year and this is accounted for by the fact that Park city is almost lifeless owing to the fact that the heavy snow drifts in the mountains Preclude Pre-clude the possibility of getting down ore The building boom continues and the demand de-mand for building material has been very well supplied witn the prospects that there will be no dearth in this respect from now on New enterprises are daily being inaugurated inaugur-ated of which the columns of TUB DAILY HERALD have kept the public fully apprised ap-prised The organization of the stock exchange has caused the owners of several of the producing mines to make preparations for listing their properties Lead and Silver I In Salt Lake lead remained at 385 during dur-ing the entire week until yesterday when it advanced to 5300 In New York the market remains inactive inac-tive but steady with but little disposition I to operate on the part of either buyers or sellers As a result the yolumo of busi ness transacted was not at aU large In St Louis lead is stationary sales continuing con-tinuing to be of a handtomouth character great apathy is noticed on the part of both buyer and seller In Chicago the demand for eastern shipments ship-ments has gradually stimulated values and sales during the week foot up over 500 tons only a small part of which was taken by local consumers I Silver 105J i The Gold Finds Near Provo I Notwithstanding the fact that a very j large number of mining claims have been I II made in Rock cafton near Provo within I the past few weeks and many more are apt I to be made soon yet very few except the prospectors concerned realize how important I impor-tant are these discoveries When the I GazcHc says that paper some weeks ago announced the discovery which Mr Henry Shafer the old California miner had made of rich paying gold ore within two miles of Provo many were very incredulous and very few indeed realized the importance of U the matter There was no gas about the I matter however It was sober serious and solemn facts Specimens of the ore were at hand The claim where tho same was found with plenty more of the same quality was also at hand ready for inspection inspec-tion Mr Richard Brereton J R Boshard and a few others promptly took hold of the I matter with Mr Shafer A force of men were at once put to work and they arc working still with the prospect of better results than was at first ever dreamed of On Monday last the first shipment of ore for smelting and refining was made Assays As-says of this ore have shown the existence of gold to the amount in one instance of 4 480 to the ton Several adjoining claims rI promise to turn out equally well The I most solid indications are that Provo is on the eve of a great mining boom and that t she is seriously promising to equal if not J surpass all other sections of Utah in the I production of the precious metals in addition addi-tion to her other grand agricultural and general resources and advantages A Coal Strike Near Glenns Ferry There has been a story handed from the first travelers who passed over the old Overland road that runs down the Snake that there was coal to be found on the south side of the river not far from Glenns Ferry The story is that these first overland over-land travelers discovered the coal and made use of it blacksmithing But the location loca-tion of this coal bed has long since been lost track of Several parties started out a few I days ago to prospect for the lost treasure and their search was rewarded in finding a vein OL coal though whether it is the old vein or not is not yet known The discovery discov-ery is about a mile from Snake river and about ten miles above Glenns Ferry The parties did not have time to drift in far on the cropping to find out the extent of the vein but prospected enough to satisfy themselves that they had coal They Troucht back several fine looking samnles They will return and open up the bank at once The discovery is only about three miles from the railroad and if the quantity Is as great as the discoverers believe it will be a big thing for Glenns Ferry and fortunes for the locators who are Hardy Dial Martin John Fisher E J Sullivan and Evan Williams Mail I Eureka Needs a Bank I Eureka is a growing camp It is destined to become the chief camp of the territory Men who arc close observers predict that before winter we will have a population of 5000 In viqw of this fact we need a banking bank-ing institution It would be a paying investment in-vestment for the owners and a big thing I for the town A man now has either to deposit his savings at Salt Lake or put it in the toe of an old stocking and bury it in the I back yard for safety Many who would become depositors if there was a bank here now save nothing and have nothing at tho end of the year to show for twelve months work There is an immense business transacted hero and there will be more I To handle it properly we need a bank A bonanza avraits some one in this hne of busmessiCtfc American Fork Canyon lllucs I Never in the history of this famous camp was excitement so high over the prospects as at the presenttime As the snow begins to disappear the camp and mining outfits begip to be hauled out and miners are Ret ing ready to mako American Fork canon ring with the echoes of blasts and picks S Osborne of Chicago is here ready to do mpre work in the cafion this season than has ever been done before unlimited funds ore placed at his disposal Ws Chicago and Cleveland partners who have been here sail examined the mines are pow ready to push work It is safe to say that this syndicate syn-dicate alone will employ fully 00 men during dur-ing the season The company which Mr I Osborne represents is the American Fork r Consolidated Gold and Silver Mining company com-pany and has a capital of 2500000 The stockytartid in short time ago Jat 10 cents and has risen gradually on the market until now there is none for sale at less than 50 cents and as soon as work begins the price will be 1 and over The mines owned by this company are the New Idea Flora I Osborne Osborno No2 and the famous Wild Dutchman recently purchased These mines are all rich in ore and hundreds hun-dreds of tons are now on the dump awaiting await-ing shipment Another large company just organized is the Treasure Consolidated Gold and I Silver Mining company of which James Chipman is president Ed AVinn vicepresi dent and Washburn S Chipman secretary and treasurer The capital stock is 3500 000 and a limited amount of it will be EJaced on the market at once to raise the working capital and the people right at home are eager to obtain a portion of this stock as they are well acquainted with the properties The mines owned by this company com-pany are The Treasure which is well developed de-veloped and supplied with shafts and tunnels tun-nels the Oliver Nemo and Dolphin these are all good mines and as soon as the season sea-son opens at least 200 men will find work in these mines The famous Millar mine owned by Judge Baskin ot Salt Lake and Rowland and Aspinwall of New York will give employment employ-ment to 200 more men Judge Baskin haying hay-ing already made arrangements for commencing com-mencing work H Bolcy H Bates and several other persons are making final arrangements to work their rich mines extensively Bishop Cutler of Lehi will put ti largo force at work in his Tintic mines and a large portion por-tion of tho idlo men in Lehi arc laying in supplies to prospect thoroughly every nook and corner of American Fork cafion Hidden Hid-den treasures and untold wealth lay buried in the mountains just north of the city and yet tho people have turned but little attention atten-tion to it Now that the rush of people from the cast is so great our people have awakened to the fact that they must seize the opportunity at once or forever let it slip from their grasp Now that the mining min-ing question has been stirred up by the Independent specimens of ore are being brought in daily by parties who supposed them of little value when found but which are pronounced by experts to contain fabulous fabu-lous quantities of precious metalsIlIde pcndent Foreign Bank Statements The governors of the bank of England at their weekly meeting on Thursday reduced its rate for discount from 3 to 2 per cent During the week the bank lost 242000 bullion bul-lion and tho proportion of its reserve to its liabilities was raised from 4390 to 4530 percent per-cent against a decline from 4170 to 40C5 per cent in the same week of last year when its rate for discount was2M per cent Tho bank on the 17th instant lost e140 000 bullion on balance The weekly statement state-ment of the bank of France shows gains of 5475000 francs gold and 675000 francs silver Trade In the East In New York a season of extraordinary speculation has set in While helped by some considerations affecting the supply or demand for products such as injury to wheat it is mainly the result of proposed silver legislation which is expected to expand ex-pand the monetary circulation enormously and to lift prices at once Substantially all the reports from all other cities give an encouraging record of the state of business At Boston improvement improve-ment continues retail dry goods trade is large and causes better jobbing trade and domestic hides are higher At Philadelphia Philadel-phia there is especial activity in drugs and chemicals and the past week was the best for a long time in groceries Chicago reports the usual great increase in the movement of grain and dressed beef lake shipments of grain being double last years and dry goods sales fully equal to last years while clothing falls behind but is fairly satisfactory Collections there are 4 generally good St Louis also notes improvement Im-provement fairly prompt collections and expectations of a good spring trade At nearly all other western points similar favorable reports are made and St Paul notes that recent rains help farmers and seeding is going on rapidly The business failures occurring throughout through-out the country during the last seven days as reported to R G Dun Co number for the United States 181 and for Canada 33 or a total of 214 failures as compared with 200 last week and 205 the week previous previ-ous to the last For the corresponding week of last year the figures were 246 representing 211 failures in tho United States and 35 in the Dominion of Canada At the Banks The ore and bullion receipts by the various vari-ous banks in this city for the week ending end-ing yesterday were 1054lGOOas compared with 11SSS500 for the week previous They were reported as follows ITcCornick it Co Sliver and lead ores 8 30700 00 Hanauerbullionunnnuuuu 19423 00 Total nuuu nuu S 50125 00 By Wells Fargo ill Co Bullion 8 47001 00 g Ore t 8290 00 Total S 53231 00 Total shipments for the weekuIj41Q 00 NEWS FROM THE MINES At the office of Mr Hanauer the week was reported as above the average The fair price of lead and the jump in silver has had a good effect and several mines that have not been heard from for sometime some-time reported The only shipper from Park city however how-ever was the Ontario all the other mine owners prefering to await the advent of better roads Tintic made her usual excellent showing show-ing Bingham kept up her reputation as the Old Reliable Frisco was represented by the Horn Silver Stockton also was a shipper to a limited degree The Cottonwood properties are as yet buried under feet of snow The Alice The Alice Gold and Silver Mining company com-pany has declared a dividend of 6 > cents per share payable on May 10 This makes a total of 25000 paid to date The Horn Silver Horn Silver continues to be a strong favorite in New York The report of the company recently issued shows a cash balance bal-ance on hand of 28370083 Tho shipments ship-ments for the week amounted to 625 tons The Ontario Steadily onward and upward goes the stock of this great company The latest quotation in New York is 45 Tne usual monthly dividend has been declared The Daly The mine remains closed down and will probably not reopen for two or three weeks Stock is held stiff at 83150 The usual dividend of 25 cents per share will be paid on the 31st The Spanish One hundred tons of low grade ore represented rep-resented the Spanish The Brooklyn The Brooklyn shipped 300 tons of concentrates con-centrates and secondclass ores The Old Telegraph This oldtimer sent in thirty tons The York After a long silence tho York was again heard from the output being nintey tons going 59 lead and 7 silver Thfi Logan One carload came from the Logan The BnllionBegk There were the usual heavy shipments It is now thought the April output will reach 3000 tons The Eureka Hill There no letup in the output of this mine The CentennlalEureka There was considerable truth in the rumor recently published in this column to the effect that a rich strike had beenmade in this mine Extensive shipments were made during the past week the ore going I all the way from 150 to 250 silver to the tonJ The Caroline The Caroline was heard from as usual The Spy The Spy is now numbered among the prominent mines of the wonderful Tintlo district The Eagle Forty tons of Eagle ore showed from 75 to 100 ounces of silver The Solid Muldoon Tho shaft is now down about 120 feet I and a strike is looked for almost any day The Governor Some ore from the Governor which was supposed to be worthless was brought to Salt Lake for assay and went 18 ounces silver 15 percent lead 5 25 per cent copper cop-per and 18 in gold to the ton The Blue Rock The Blue Rock is now shipping two carloads car-loads of ore per day The South Mammoth Lead ore was recently struck in the South Mammoth The Goileva The recent rich strike has caused considerable con-siderable excitement the Tintio district The Victoria A good and rich body of ore has been struck in the Victoria This mine adjoins the Eagle and the oro is similar in character charac-ter The Cedar Fifty tons of high grade lead ore came from this Stockton property The Pert Cloud The Red Cloud Mining company has filed articles of incorporation with the territorial territor-ial secretary of Idaho The objects of the association are stated to be to work and buy and sell mines and mining property extract and work and reduce and buy and sell ores and metals generally to do any and all things incidental and appurtenant to a general mining business in the territory terri-tory of Idaho The place where the principal prin-cipal business of this incorporation is to be transacted is the town of Hailey It is formed to exist fifty years The number of directors is fixed at seven and those appointed ap-pointed for the first year are W N Frew Pittsburg Penn Charles Lockhart and J M Schoonmakcr of the same place Lit tletou Price Oren Porter H E Porter and James L Mason of Hailey The capital cap-ital stock is 100000 divided into 200000 lOoOOOi shares of the par value of 5 each The amount of capital stock actually subscribed is 155000 |