| Show HAS IT 1 STRUCK BOTTOM11 1 I I t i Sixty Cents for Silver on Thirty day Delivery t t THE BULLIONBECK CLOSES 3tr Chambers Discusses the Future of the Ontario and Daly Seven Hundred Men Now Employed by the Two Companies The 3Iiucs WIll Sot Ba Operated at a Loss Deep Creek Gold > f The mining men extracted a single grain of comfort from yesterdays silver t F quotations which read 62 spot 60 for thirty days While the spot quotation r is 20 cents below the lowest price ever reached by silver up to two weeks ago t the quotation of 60 cents for thirty days delivery is taken by many as an indication indica-tion that tho New York bullion buyers are gambling that silver will ba above 60 thirty days hence and therefore the bottom bot-tom has been reached There is some comfort in the knowledge that even the Wall street gold bugs are gambling on a 60 cent limit but there are many Salt Lake mining men who predict that silver will be nearer SO than 60 thirty days from nowIf If I had a hundred thousand dollars of spare cash I would put it all into silver sil-ver at 60 cents an ounce declared a financial sharp yesterday It would mean a clean profit of 30000 within a year Its the same way with mining stocks Ontario at f 10 is the greatest snap for an investment that can be picked up Beats real estate and everything else THE OITARIO AND DALY Speaking of the effect of the silver collapse col-lapse on the Ontario and Daly two Park City mines that employ altogether in mines and mills over 700 men Superintendent Superin-tendent Chambers yesterday stated that he was not prepared to give any positive information concerning the future as nothing definite had been decided He was free to admit however that they k could not keep the present working force T employed under the circumstances Whether a force sufficient to keep the mills running would be retained had yet been undecided but a decision would be reached after the first of the month and some decisive measures taken as to the future You may say continued Chambers Cham-bers that as a business proposition will not keep the mine running a loss It vill require about forty men to operate op-erate the pumps and this force will be retained no matter what the price of silver sil-ver Were the pumps stopped and the mine allowed to fill to the present drain tunnel it would cost at least half a million mil-lion dollars to pump it out to say nothing noth-ing of the damage to machinery THE BULLIONBECK It was stated at the office of the Bullion Beck yesterday that the mine would be closed down tonight A small force of r probably ten or fifteen men will be kept at work The present force is about 175 |
