| Show FINANCE AND MINIM Lead and Silver Both Remain Stationary THE WORLDS GOLD AND SILVER Jew I From Our MinesTho Ore and Bullion Output The Coinage for March Business at Homo and Abroad So far as general trade is concerned the week just closed has i been a very fair one a slight increase it is said being perceptible percepti-ble over the previous six days Building has been pushed to its fullest extent although there has been some delay de-lay occasioned by the fact that the proper material was not to be obtained The compromise of the BullionBeck suit the particulars of which have already been published in THE HERALD is a source of much gratification to all concerned and to the public at large who know the disastrous dis-astrous effect of such important litigation The people of Eureka and Tintic generally t received the news of the compromise with unfeigned delight Although there has been some slight falling fall-ing off in the real estate sales during I the last two weeks the amount of the present pres-ent transactions is still very satisfactory I Lead and Silver I In New York lead has been very flat I Several hundred tons of the metal that had been held in store for some months past has now been released and this no doubt in a great measure accounts for the present pres-ent depression Outside of this the weakness weak-ness was not warranted as large quantities quanti-ties are being consumed in the west and the production during the last three months has been decidedly below the average i In St Louis lead has also been quiet I Transactions have been few and offerings are apparently light Consumers being reasonably supplied feel quite easy on the situation and show a slight unwillingness to pay the prices asked In Chicago the market has been dull In Salt + Lake lead opened at 385 and closed at the same figure last evening Silver 90 The Worlds Gold and Silver The following is the ninth annual report of the worlds production of gold and silver for the calendar year of 1SS9 prepared by Prof Ivan C Michels from official data f received by him in his investigation of the subject > > CC I r I 2 E rJ nn CJ i I rn > 1 j j lj g s O j p I I I i i g j j 1 j 1 ti I L e ° po I 0 a > iz > 0 ei m 1 l7 I 5 r c I1o i5 eo eo rn < = I I 00 Ii j 00 to 1 egtJlM o cwl > SSJO i i I 23 8 iSUbc = 4 I J > to cc 0 SfJ QO Com a G G OH co 01 < I H tJI 3 > to > > tJI > t g8 I In weights the worlds product of gold and silver forlSSO was as follows Gold 40S391 pounds avoirdupois Silver S77oSGG avoirdupois In proportion of gold to silver was as 1 to 2154 In value gold was 426 per cent silver 574 per cent Tho increase in silver is mostly in the United States and Mexico but especially in Australia where the production pro-duction of silver has risen from 1058000 in 1SSS to 10272905 in 18S9 Worlds production of gold and silver for the past nine years 1SS1 to 1SS9 inclusive Wlc > l 2 a I i i i i i i i i 1 o i8888 g o gS aBlSd sw s d geifs I rn wUQlS 58 E S lti S75SSo g w i 88 g sg 00 Ie > > 1 I > I > ot > o 8 I tbStoSccooS otC > Y o o-tC 1 001 > 8fgg r aorSotl iZSSSt Yearly average for the nine years gold f 105317145 silver 125077242 gross total 231043337 In weight avoirdupois gold was as to 1 to 19 The value of gold was 456 per cent silver 544 per cent From the above it will be noticed that the worlds production of gold last year was over 15000000 above the average and silver about 40000000 estimated in coinage coin-age values Coinage at the United States Mints Coinage executed at the mints of the S United States during March Denomination Pieces Value Double caglesu 93030 81830400 00 Easlcs EO 2000 Baneagles 1M 100 00 Quartereagles 30 75 00 c Totalgoldu 91DPO 1830775 00 Strndarddollars364265 83000205 00 Halfdollarsuuu 265 1m 50 Qnurtcrdollarsu 2C5 CC 25 Dimes 265 2010 Total SI1Cfu 3001000 v S3OK490 25 Five centsu 1319405 S 0747325 One centuuu 4843J05 4343J 03 Total minormuu 0292730 S 110905 90 Total coinage 9055350 55MS171 15 The Diamond Fields of Montana The sale of the ground known as French Bar on the Missouri river about fourteen miles from Helena says the JcraW means that the mining of precious stones is to be added to < the other industries of the great state of Montana The grcunds or fields as they should be more properly called were purchased by Howard Oviatt and Frank William Jones for an English syndicate syndi-cate the transaction having been brought about and consummated through the efforts i of E B Korthrup lof St Paul G S Streetor who examined the properties is a the son of the great London gem dealer and has visited every gemproducing district dis-trict in the world This with the price paid 150000 for some fifty acres of ground valuable for no other purposein Io t r s t tl 1 f J a C 1 J dicates that in the opinion of experts the industry will be a profitable one and carried car-ried on upon an extensive scale F D Spratt now has a diamond found in these fields which after being cut by Tiffany Co of Hew York was valued at 0535 and pronounced by that firm to be of unusual quality An expert from the African diamond dia-mond fields says that the formation of French Bar and character of the deposits are identical with those of the former and thinks the monertv an unusually rich one I In addition to diamonds there are found other stones such as rubies amethysts sapphires and emeralds ThIS place French Bar is not the only gem field in the state beautiful rubies amethysts and sapphires and a few diamonds having been found on Eldorado Bar Novel Salt Mining I While boring for gas some time since the I Cleveland Rolling Mill company struck abed a-bed of rock salt of great thickness on their property Two months ago a force of several hundred men began erecting buildings that now cover several acres about half a mile from the rolling mill and spe culation has been rife as to the purpose in view which was carefully concealed But on the 34th of last month the articles of incorporation of the United Salt company were filed at Columbus Ohio The capital is 1000000 nearly all paid in The incorporators are leading Cleveland and Akron capitalists and David R Page of that city is also interested in-terested The company will operate two plants in Cleveland and one at Portage near Akron The united capacity of their works will bo oOOO barrels of salt a day This enterprise is largely due to the analysis analy-sis of Herman Frasch a local expert in chemistry and to a method invented by I him for cheapening the cost of production which will be patented Distilled water will be forced into a threeinch pipe from I the works into the salt mine 3 000 feet distant I dis-tant by a very heavy steam pump under a pressure of 500 pounds to the square inch The water will be turned against the stratum stra-tum of rock salt forming a heavy brine I which is forced out at the top of the well and through a pipe to the works by the i initial force exerted by the pump Foreign Bank Statements The governors of the Bank of England at their weekly meeting on Thursday made no change in its rate for discount and it remains at 4 per cent During the week the bank lost 117000 bullion and the proportion pro-portion of its reserve to its liabilities was reduced from 4fili to 4123 per cent against a decline from 4130 to 3910 per cent in the same week of last year when its rate for discount was 3 per cent The bank on the 3d instant lost 50000 bullion on balance The weekly statement of the Bank of France shows gains of 2975000 francs gold and 3975000 francs silver The weekly statement of the Imperial bank of Germany shows a specie loss of 36310000 marks Decline in Business Abroad Numerous complaints reach us from abroad of a falling off in business since the beginning of the year Industries says that the wave of good trade which arose in the autumn of 1SS7 and which increased in volume all through 1SSS and 1SS9 seems to have reached Its culminating pointabout the close of the past year for since 1S90 began there have been in many of the leading lead-ing districts evidences of decline In some instances freights have fallen to about 50 per cent of their amount a year ago and this is leading to a decrease of orders for new ships Labor orders are considered to be a prominent cause of the bad features in the industrial situation The same paper says Waste of time waste of resources carried to such an enormous extent as was the case in the London dockers strike cannot can-not but find economic retribution Never before in the history of industry had the laborer as much actual power as he has now and he is roundly charged with using that power in a shortsighted and intensely selfish sel-fish manner With a fall in prices probably imminent there is strong reason to believe that strikes will become more and more frequent 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 14371100 as compared with 18279000 for the week previous They were reported as follows ByllcCornick 6 Co Silver and lead ores 8 23023 00 Hanauerbulllonnununuu 376S2 00 Totaluu uuunnunu S 61307 00 By Wells Fargo Co 1 Bullion uuuu 8 63403 00 Ore 18030 00 Total u 8 82404 00 Total shipments for the week14371100 NEWS FROM THE JONES At the office of Mr Hanauer the week was reported as a very fair one only Park city Stockton Bingham and Frisco were all heard from however and there was also a shipment of Alta concentrates from Virginia City Nevada Park city reports very bad roads as yet The Horn Silver Four hundred tons came in from the Horn Silver during the week The ore was of the usual grade I The Ontario I Ontario was quoted in New York during I the week at 541 There were no transactions transac-tions recorded in Salt Lake The Daly Daly is held stiff at 820 tt The Woodside The Woodside had its regular shipments The Alliance I Alliance was heard from during the I week The Mayflower The Mayflower was also a shipper The Northland A shipment from the Northland showed 34 lead 14 silver and some gold The Bulllon Beck The steady output continues The prospects = pros-pects now are that the shipments for April will reach 3000 tons The Eureka Hill The Eureka Hill reports no change The Caroline The Caroline continues to warrant all the good things that have been said about her The Mammoth Forty tons of ore away above the average aver-age in richness came in during the week There is nothing but encouraging reports from this famous property I I The CcntennlalEurcka Three cars of excellent ore came from the CentcnuialEurcka The Northern > iiy The Spy was also a shipper and as the roads grow better the shipments AvilHn crease Tho Black Dragon The Dragon shipped fifteen tons The Bnckhorn Seventyfive tons came from the Buck horn The Brooklyn Three hundred tons of first class and second class ore came from the Brooklyn The Revere Fifteen tons showed 40 lead and 20 silver The Keystone Seventeen tons of Keystone ore went 52 lead and 12 silver The Old Telegraph A shipment of Old Telegraph ore assayed 44 lead and 16 silver r e R r 2Ll = |
