Show I j I HOPU1LEDPIUE 1 Is Now 340 Except Where < 390 Contracts Exist jf t NOTICE i NOT UNEXPECTED j I R l Samples From the New Strike in the I t Heel Wing Plans to Develop the f Viclsburg in Star DistrictThe I Helen in North Tintic Looks Promising Judge Miner Invests t Heavily in Tonopah M T OSIeara I Brings Samples From the Great I Mining Scnsntic7i i I I R t U I The fear which has been > weighing heavily uJona particular line of securities I so heavlr upon lnc curities and Incidentally upon the cn Lire market made Us appearance yesterday I in 310 lead or a decline of 50 terday IL 1 declnc ot I < cents per hundred pounds Its pre I ence was revealed lira notice from the I b < local ofllces of the American Smelting I I I and Reilniiiffcompany and in It the producer is advised as follows I t Dear Sir Acting un dcr instructions i I instruc-tions from our Denver ofllce we are i I t obliged to give you notice that hereafter I 1 here-after we will settle for the lead in I your ores on the basis of 340 per 100 I J < I i pounds less 1j cents per pound or I J r r S130 per hundred hat I Forthe notice the average producer j i I was by no means unprepared and instead in-stead of a panic us Is not unusual in such disturbances in the metal market j < mar-ket those directed took to It resignedly and philosophically Again the effect L i is limited and is confined to those only r f I Whosc product is on the open market mar-ket Indeed the heavy producers escape I es-cape without injury as they are forwarding for-warding their output under contract wardlnt I f prices and will continue to do sonot i s r > a few of them for a long time with I oniyIsoIaLcd onca hose contracts cx Illre with the year Again the effect r of the new settling price affects seriously se-riously but those whose product contains l con-tains less Chan 2o per cent lend and i i where it is i overcome by the presence of silver ind gold even these must escape l es-cape with ery11ttle injury I Assistant Manager Smith of the i v American Smelting and Kenning com k ° J panys plants In this valley who was Interviewed concerning the new price o the metal l during the afternoon said t7 he could not view it other than as temporary tem-porary as the price concerns and must Y affect the smelting Industry throughout through-out the country as It dOe the lead pro 4 < tiuccr However there Is the usual uncertainty 7 S un-certainty concerning the lead market > and certainly the producer will not reproach re-proach the company for exercising a precaution that Is due every man whose business Is affected by the market mar-ket value or an article he is engaged In producing Of course where the < price has not bqcn fixed by contract production under I the new settling price must be curtailed this enabling the smelter whose bins have been loaded load-ed to the guards for some time to convert con-vert thesurplus into money but otherwise other-wise the force employed at the mines and smelters will remain unaffected Tht It is the policy of the smelting F company since it has undertaken the erection of new plants and the modern Izing of old ones to antagonize the Interest In-terest of the lead producer at this time would be the most Illogical view fOI the market to take of It Undoubtedly the miner is indebted to the smelter for a 390 market which has ruled for so 1 lora and which Is yet enjoyed by those who are shipping under contract while r > l from the local offices of the company J comes a reassurance that with the new smelter at Murray and the economic advantages It will possess a reduction I Jn the working charge will follow no matter what the future of the lead market Indeed Assistant Manager Smith takes n very hopeful view of the I situation Certainly the dividendpay ers have distributed their breadmon I eys when lead was ruling at 250 per F hundred pounds and that they will continue to do 30 and maintain n surplus sur-plus under present conditions Is an assurance as-surance whloh Issues from every office 4 ofce Of the future of lead nothing definite detnie I can be arrived at until stock is taken In January when a new settling price I will be announced by those who have 1 the market in hand and until then lo ca producers will worry along nor will there be any suspensions among tho mines where such condi lons have I I been l faced before I I Samples From Red Wing Strike j I Samples from the new strike in the property of the lIed Wing company at Bingham sustain all that has been claimed for the quality of the ore yes terdays assuyn revealing as much as 32G per cent lead IK ounces silver Gt per cent copper qnd HO gold per ton Since the disclosure was made a few days ago the management has been puihing worlt as vigorously us possi ble and with results that are most I gratifying In 1 the nleanttrnc the Dew Dc ey mill In Plngham canyon Is running on a lot of 2QOO loni of lunnllG ot milling ore of good quality and it now begins lo oc 0 as if the future of the U undertaking was assured At all events the property is rlOJcrl providing the means with which to continue developments and the com parry Is correspondingly pleased COI To Develop the Vicksburr ii A W bulc Windberg Jr president of the Vicksburg Gold has gone to Chicago and Copper to devise company means 1 I for the future development of im meals prop erties IT Star dl trlct Beaver it county I COU1 I The group consists of n halfdocn lo l cartons that are bettor known among the pioneers of the region as the old J been Hayes group and l that for years baa pioductlvo on the upper levels The property is uaverspd by three dis met lodges the ore from which re veals as iriueh as 17 per cent CClt copper and 09 ounces silver with 2 20 In gold this occurring in a fivefoot vein und JU a depth of 220 feet Tho manage ment of the property Is In wellknown hands and with steady Wellmowr through the winter spiing should open with another field Beaver county producer in the Pleased With tho Helen jE W W Old manager of the Helen company property In North Tlntlc I came in from lntc IO camp again last night pleased not only with hIM l0l oll own posses OWI I sions but out with the behavior wih llcbchnlor of several others that wore visited by him isIed Among the latter he was h11 impressed with the particularly raising t til Curtail which In 1 raIsing and forwarding fQIwardlnr ore very rap Idly Ily and Avjmse ure bodies compare fa vorably with any that have by him in the tat IUlc been seen il lhl great camp At the Vic lot adjoining the jolnll Carted on the soutH the 1ondjn J loading whle londlnl of Little 010 Chief is now over going whose on prospects there Is not a little excilo 7nont In pamp at this time ltte exclu miners 1 > tJl lmc report ore appearing in 11 otrlngers Ore and Bullion Settlements In the ore and bullion market the days settlements sellcmentser reduced to 518 COO divided as followH I foloww I T K Jones CG CoGerraflia 7100 8 nlanlD bullion 10OgoLd silver lead and bu10n 11OQO copper olesi I McCornick Co Copper gold and silver bullion I siver hlol 30200 In the metal market 57Hs cents an ounce lead silver culod at except where J J D ores are delivered under contract 1 l at 5340 per hundred pounds and casting j copper at 153k cents a pound |