| Show FINANCE ND MINING I I r a Silver Climbs Upward at a Satisfactory LV Satis-factory Rater Rate-r BIG ORE AND BULLION OUTPUT V b i r Mines in Sit Nebo DistrIctThe Sanpete Country Rich Prospects News I From AU the Districts V V The scenes incident to an election of considerable con-siderable importance have had no effect upon tho business of tho past week which was if any chang at allis to be noticed a slicht improvement over that of the seven n days previous The real estate market has shown pronounced V pro-nounced symptoms of returning life and I as the temperature declines which it will V do In a few short wc ksthe scenes of last I spring will undoubtedly be repeated r There is scarcely a dealer who does not believe be-lieve that there will be a big revival in I real estate during the fall and winter r months V The stock exchange after doing a good business has t ken a short vacation and when it reopens about the first of September Sep-tember several new mines will be found to be listed VV V The sudden jump in the price of silver which was quoted yesterday at 3113 is a good indication i for the west Of the silver bill which has been the cause of the advance ad-vance an authority says Among conservative con-servative persons everywhere the compromise compro-mise which has been reached by Congress on the silver question Is received with satisfaction t V sat-isfaction There has been a feeling among the majority of the people of the country for a year more past that an enlargement in the silver element of the circulating Thmedium V was desirable although objection in many quarters had been brought against any radical increase in the coinage By those holding that view any important expansIon ex-pansion in the coinage was combated on the ground that so far as regards utility in the currency and effect on the market the storing of the metal in the treasury vaults in the shape of bullion would be as V effective as if jt were in the shape of coin because in any event silver like golddoes duty by proxy as it enters the circulation only through the certificates of which it is made the basis The compromise is satisfactory satis-factory in a general way to both the coinage V coin-age and the bullion aeposit advocates As it provides for the purchase of 4500000 ounces of silver a month it more than L doubles the government absorption of the E metal and takes all the domestic product aside from what is used in the industries V j The advance in the price of the metal and I the narrowing of the gap between it and I gold which all deem to be desirable is thus brought about and the expansion in the volume of currency which is sought is amply provided for At the same time the expense of coinage is obviated by the clause in the measure which keeps all the metal in bullion form from about a yeaf after the time in which the bill as a law will go into operation except such fraction of it as maybe may-be needed to be coined as a redemption fund for the notes issued upon it Each side gets what it wanted as far as this was practicable I practic-able and the majority party the party which is responsible fOr legislation has at J last a scheme on which all of its factions r unite V Lead and Silver In New York the lead market is inclined to be inactive A few retail lots says the Journal were sold at 450 but larger lots might probably have been bought at a trifle under that figure No important decline is expected as buyers are eagerly awaiting a chance to get in cheaper and sellers evince t no disposition to make concessions John Wahl Co of St Louis say Lead is in moderately steady demand slightly on the increase and transactions are rather liberal considering the usual midsummer dullness There were proba L bly 700 tons sold in retail lots at from V i 4 i2M to 435 The advance in silver ap pears to stimulate silver ore production V V and while lead appears to have many friends we scarcely look for much ir any further advance c V In St Louis lead is weaker and there is some pressure to sell In Salt Lake the metal opened on Mon day at 5445 and closed last evening at 440 V V Silver opened LOS closed 113 3It Nebo Mlnlnc District V Mt Nebo mining district has been worked V spasmodically for some years but no operations oper-ations of any consequence directed with intelligence have been carried on until this summer says the Elision There is said by those who have examined the district to be more veins there than in any other in the V territory But few of them have had any attention paid them The formation in lime and granite the ore more often occurs V in irregular pockets in the former rock but frequently it is found in contact veins Although the district is generally considered V consid-ered low grade one there is some ore found which will run very high and the V general average obtained is as good as from V most other mining camps Some ore was V shipped from here some years ago but the district suffered a depression like many T others when lead began to depreciate m Some of the best properties have been unworked l un-worked for years on account of too many owners who could not agree on a line of V development to pursue and in the titles being in a baoLsiape But these things are V being rapidly adjusted legal complications Doing UUUUIKIUU uuu other uiuruiices uc 1 l inp healed it is expected that shipments I L will soon De resumed and a good production I made t Among the claims being worked there V perhaps the best are the Queen of the HIils the Princess East Side Mountain Queen i and Eureka all of which lie very cie to V V each other All of these show well for I prospects The ore is generally galena v sulphate of lead and a little carrying silictf It will run from 10 to 70 ounces silver and p from 20 to 70 per cent in lead A Hague of Nephi is now working a I small force on the Princess from which he is sacking ore that will run 30 ounces in VV silver and 40 per cent lead Of this duality t V V ho now has from sixty to seventy tons of I damp He is also working the Mountain Queen East Side and Queen of the Hills V but with only a small cforce The East Side shows a good permanentS I permanent-S vein which is opened up for a distance of 3200 feet in length and looks much like the j V Princess The Queen of the Hills has a c crosscut tunnel run in 150 feet to striku the vein but It will take about sixty feet V more before It is reached The East Side I I VS S and Princess have a vein of four feet which V in places shows a pay streak of eighteen inches which will run about 30 onuces in jV silver although the entire four feet will V average from S to 10 ounces and 20 j er S cent in lead making good material for concentrates V con-centrates The Nebo mines are about eight miles from Nephi but only two or three from the railroad All of them are in the foothills i of tho mountain and not on Nobo proper and a wagon can be driven to them without I V building a road There are plenty of V water and timber for mining imrposes I Nearly everybody who is familiar with mining is convinced the district will soon make a good showing and that there is a V big mine there somewhere I Tho Saupete Country I The Alexander mine in Cleveland district I dis-trict eight miles went of Ephraim is fast ming to the front and will shortly be t IJ r 4 1 classed among the wealthy producers of Utah On Tuesday last a llcyMcr report bad an interview with Dr F It ICeuner who gave a very encouraging rejjort of this property V A Mi E G Arthur a Denver mining expert ex-pert was down last weak to look at some Marysvilo mines with a view of buying called on Dr Jvfcnncr and tried to purchase or bond the Alexander The ecntleman offered to take a bond on the mine for one year or more or to buy the propertybut tho owner refused to do either V V Dr Keener was down tu Salt Lake the first part cf the week to see the Cannon brothers and other owners in the mine and returned on the 12th with a lot of supplies preparatory to prosecuting the work of development de-velopment The doctor said the last assays of the rock gave U6 per cent lead and 39 ounces of silver in all worth about CG to the ton V When asked if Mr Arthur had purchased any of the Marysvalo property Dr Kenner said that lie had not but that he might possibly nurchase the Bully Boy at that place Register At the Banks The ore and bullion receipts by the various vari-ous banks in this city for the week cud ngyesterday were 521212974 compared with 17313700 for the week previous They were reported as follows By XcUornid C Co Silver and lead ores I 50210 00 00V Total 8 50210 00 By Wells Fargo d Co Bullion S11S1SSOO I L b Ore 1723G 00 V Total I1354U4 00 I n j T It Jones A Co Ores 5 1510 00 Selected lead 110 00 I Fine bars 10JOO 00 Total S 26195 71 S Total shipments for the weelt1212J 74 I NEWS FROM TUB MINES Mr Hanauer reported the week as a very V faIr one Tintic Bingham Park city Stockton Frisco and the Cottonwoods 1 were all heard from The Horn Silver After a silence of some time the Horn Silver sent in big shipments during the week past tho difficulty with the railways having been patched up The president of the company has issued the following statement for the three months ending June 30th April 1stCash balance per last quarterly report 5288700 83 RECEIPTS Sales oro April S28936 OS May 270SS 70 June 37419 53 53VV VV S 93443 tf 7 Smelter at Francklyn Proceeds sale of slag iron ore scrap iron etc sundry rents S 2155 7 Vl Interest account Sundry amounts S 440 OC Total u S3SJ739 S 3 DIsnURSE Errs Mining Labor supplies timbering and dead work S 36149 57 General expenses V Salaries of manager and clerks Frisco and Salt Lake city 8 1801 09 Chicago refinery Annual taxes 699 56 Dividends Dividend No 18 paid from net earn ings of current quarter u 3 50000 00 New York office Salaries and clerk hire S 1750 00 Taxes 00 Ohu 10 17 General office expenses 121 05 Printing and stationary 38 00 Rent of office 100 00 LeKil expenses oo oo 357 85 Registration of stock 250 00 Petty cash 55 25 S 2035 82 Balance cash on hand V United States Trust Co 15210000 05 First National banloo 43437 il DeseretNational bank 39784 96 F Honkamp Chicago 151 85 Petty cash 20 15 15V V 293400 81 533173981 Two or three big bodies of ore have lately been uncovered assays of one of which go from 70 to 48 silver and low in lead another an-other 30 silver and30lead another silver and 21 lead Horn Silver was sold in New York last week at 3CO The Ontario Several hundred shares were recently i sold in the New York market at 45S4525 The Daly Regular shipments No sales in New York 2250 asked in Salt Lake The Anchor The Anchor was a big shipper during the weekfifty tons of concentrates going 43 I lead and 30 silver and fifty tons 40 lead and 27 silver being sent in V The Crescent The Crescent was fairly well represented repre-sented S The IaJ flower Several good shipments came from the Mayflower The Lucky Boy Twentyfive tons of various grades came in V V The Gemini One hundred tons of good ore from the Gemini S The Treasure I Fifty tons of good ore came from the Treasure TheUulllonBeck The usual shipments of rich ore The Eureka mil The same old story of reticence as to what is bcmrr done I The Northern any Five carloads of the usual grade ore were marketed during the week I The Caroline The Caroline was on deck as usual The CcntennialEureka Exceedingly rich shipments continue to characterize this mine The ore is the richest rich-est is i is said ever brought out of tho lamous Tintic district Some of it went as high as ifeOO per ton The Spanish V V Sixty tons of second class oro came from the Spanish I The Brooklyn Two hundred and fifty tons first and I second class Vosemlto No 1 One hundred tons of concentrates went 41 lead and 12H silver The Lo al Tender I Two lots of ore camo in from the Legal Tender There were about lO tons Ii The Northern Light Tho are shipments for July were not large so far as tonnage goes but the rock I was very rich and the owners are more 1 than satisfied The Third Terra V V I Tho Third Term had its usual shipments Tbe prosppcts for a great big mine are most excellent V The Kmniq V V 1 Thirty tons of Emma oie showed 3 lead I and45 silver j I i |
