Show current comment on utah 5 s aw mines ar ines and prospects prospect the summer slump which usually hits the stock market about this time has had no corresponding effect on actual mining minin operations which continue to increase as the hot weather draws on there are two obvious reasons for this many of our camps are almost unworkable in the winter and operations must therefore be crowded during the more favorable seasons furthermore vast mineral resources are being more and more appreciated as exploitation reveals their magnitude and value and it is safe to say that no other mining territory offers better opportunity for le legitimate iti mining or which can show better results for money invested the only trouble with utah is that she does not fully advertise these resources abroad and draw outside capital to develop them this is left to individuals divi duals who boost their own private enterprises terp rises but who have little opportunity to exploit the merits of the state at large if utah were advertised as well as her sister state nevada there would be twice the mining activity there is now there should be more capital voluntarily seeking the many good things which in some other sections of the country would have been taken up long iong ago the stock market after a most prosperous winter the share market has fallen off to the low level and trading is dull the entire list has been bumped hard and even the old time favorites have wasted down to mere shadows of their former selves during vacation time and hot weather a noticeable shortage is seen in legitimate buying and selling orders and the greater volume of business is due to the professional traders and active brokers there are numerous good buys on the local boards just now for a short time investment until the fall revival in busy tintic gintic the busiest section in utah and perhaps in the mining west is to be found in the tintic gintic district where nearly every piece of available ground is being actively developed it is astounding asto astounding 0 to note the change which has taken place jace here during the past few years from a camp with perhaps a dozen operating companies it has suddenly jumped into one with a hundred or more most of them are yet in the prospective stage but not a few have developed into actual producers and some into dividend paying mines the ilie usual heavy production is being maintained by the big mines of the camp and the smaller properties are contributing in a satisfactory way the output from the colorado sioux and iron blossom has been about normal and yet all have hit the toboggan on the stock market in ing tho the maintenance of the usual dividends the big sensation of the past few weeks has been the grand central in which a fine big body of ore has lately been uncovered the find was made on the 2000 foot level west of the shaft in hitherto unexplored territory and in close proximity to the famous centennial eureka ore system those who have seen this latest resource declare that it will make a new mine out of this old dividend payer where tapped on the 2000 level the ore is said to be fully twenty feet wide and carries better than ten per cent copper and from 10 to 15 in gold with a little silver quite an ore body to get 2000 feet below the surface it would fill a volume to tell in detail of all the strikes and developments of tintic gintic properties if a tenth part of those now trying to wrest fortunes from the hills out there make good will makle make the greatest camp in the country of interest locally as well as to the camp itself are the rumors rel re regarding l arding the sale of the colorado iron blossom and perhaps the knight smelter jesse knights recent visit east has started the gossips tongues wagging and several deals have been reported as made the latest however is that the united states company has a longing eye on these bonanzas and it would certainly seem that it is the most logical purchaser together with its present holdings in the camp the acquisition of these properties and the smelter would give it the cream of the entire district the bingham coppers A consolidation which if effected would make the largest copper producer in the world has been much discussed lately this proposition includes the utah copper and boston consolidated both important factors in the copper production of the country it has been pointed out that the two could be operated most advantageously under tinder one management and the cost of production greatly reduced the combined mill capacity would be tons daily and the ore supply almost inexhaustible negotiations are yet in only an embryo stage but heavy interests in both concerns are said to favor the scheme the utah consolidated in carr fork canyon has let the contra contract c t for its tramway from the mines to the international smelter at tooele thoele the construction of this tram marks the beginning of the greatest epoch in the history of the company upon its completion and the fulfillment of its contract tract with the smelting smelling sm elting company utah con coll will be at the p heights of its arning capacity the new tram will be four miles in length the longest and heaviest in utah and will reduce the transportation charges from forty cents to five cents per ton a difference which will make into dividends in great style the capacity of the plant will be 1500 tons daily while the smelting smelling sm elting contract only calls for from 1000 to 1200 tons mastach iron one of the greatest strides in industrial du and mining progress za was made last week with the incorporation of the american can steel fuel company whose object is to exploit the huge iron deposits of wasatch and utah counties and to manufacture products from the same among the plans or of the new company is the erection of a 1000 ton toil iron smelter in salt lake valley a rolling in mill and perhaps a railroad to the mines with the launching of this enterprise it is expected that other similar propositions in iron county and other sections of the state will be undertaken the new company is strong financially and in its personnel included in which are such men as B F bauer A A sweet J M moore harry P dark clark G S payne H A Schwei W S mccarthy and george buckle emma copper considerable criticism has lately been expressed regarding L the emma copper company and what appeared to be an attempt to freeze frebe out a great many of the stockholders the comp companas compan anys yb property at alta and said to be a very valuable piece of mining round ground lias bas lately been sold at sheriffs sale to satisfy a judgment of less than 2000 held by a local machinery house it is 19 stated that the affairs of the company have been handled in a very slipshod manner the stock stockholders bolders never receiving any reports whatever from the authorities in charge it looks like a case for the minority shareholders to get busy and see what is left of the wreck the company has six months month S from july 7 to redeem the property front from execution sale |