Show THE MINING SITUATION that the recent panicky condition ot of the country has hurt the mining industry temporarily at least is a fact that cannot be denied but we firmly believe that when financial and industrial matters again reach the normal state legitimate mining will have a more substantial basis than ever while the attendant evils of the slump have been keenly felt the adjustment is bound to be accompanied by many beneficial effects it has been estimated that over has been lost in the last six months by the speculating public in general this seems to be an enormous loss but it must be remembered that a great percentage of this is on paper and only means that watered stocks have been squeezed and the hot air has been expelled from inflated securities it also means that a great many margin speculators have been caught and for some time this undesirable class of operators will be forced out of business in the western mining states this loss in values will be but slightly felt and the shaky condition of the money and metal markets are the only potent factors to be considered and to the conservative and substantial companies this little flurry should not cause any groat great alarm there is no real shrinkage in the basic value ot of good securities and the temporary curtailment of production will surely have the desired effect upon the market prices of the metals it is the new enterprises that have suffered from the stringency in financial cir cles many projects of merit that were about to be launched have been aban abandoned donea because the necessary funds for their exploitation were not available propositions that a year ago could have been placed with no trouble at all are now going begging the man who has a company to promote a mine or a prospect to sell has to lay bad and wait for the skies to clear or if he is fortunate enough to possess the means he might well get in on some of the cheap things now on the market in the mining world the mining industry cannot be permanently hurt by this recent shaking up which in many ways was so badly needed the general conditions in the west were never better nor the physical aspect of the mines ever in better shape A I 1 great many of the big mines are now cutting down the production and dev devoting devolin otin their energies to the development of new resources this plan will put them in excellent shape when the time comes for a renewal of the former activities butte has probably been more affect ell than any of the western camps the slump in copper has caused the shutdown of many large plants and thrown many thousands ot 01 men out of employment it is said that the copper production of butte is now twenty seven per cent of the normal various large plants in mexico arizona and nevada have also been forced to cease operations the new camp of ely has received a big setback but development work is still being vigorously prosecuted the mines of utah have perhaps suffered less than any from the low metal prices an and depressed conditions and but few have been forced to close down it is the prevalent feeling among western mining men that the present condition is only a forerunner of a t reater greater prosperity for the mines now is the time for con cona ism and careful management T th h c fe feeling eling of confidence is slowly being restored and the depression slowly clearing away |