OCR Text |
Show UTAH'S MINES TN 1908. The j-ear 1908 begun with an extreme depression in tho mining interests of Utah. The rigid restriction in curronc' and dopression of business everywhere had a peculiarly constrictive effect upon tho operation of mines. So much fo that a good muny mines produced outy a portion of tho j'ear, and a good many others shut down altogether and ro-mained ro-mained closed during tho wholo twelve monlh3. Another factor operating against tho Utah mines was the depressed de-pressed prices of Iho metals, silver, copper, lead, nnd zinc. Tn 1907 tho average av-erage price of silver was 00.3 cents per ounco; in 190S it was 53.2 cents per ounce. Duriug 1907 the averago prico of copper was 20.03 cents per pound; during 190S it was but 13.12 cents per pound. Lead also was lower; tho average aver-age price in 1907 being $5.3S per hundred hun-dred pounds and in 190S, $-1.19 per hundred hun-dred pounds. Zinc averaged $0.10 per hundred pounds in 1907, and but $4.0S per hundred pounds in 1908. Manifestly, Manifest-ly, and regardless of Iho production, therefore, the mines made a vcrj- largc-I3' largc-I3' decroased showing in 1908 as compared com-pared with 1907. But by reason of the shutting down of tho mines tho quantity of production was also very greatly reduced. Gold was reduced moro than fifty per cent; silver almost fiftj' per cont; copper was reduced from 98,000,000 pounds to 73,-000,000 73,-000,000 pounds; lead from 1-13,000,000 to 103,000,000; ziuc from 0,411,920 pounds to 5,930,000 pounds, whilo quicksilver reported at 375 flasks iu 1907 did not figure ut all in 1908, the ouly mine producing it having boon shut down. Tho total metnl production of Utah for 1907 was valued at $51,G3S,'109.03. This fell off considerably more than fifty per cent in 190S; the product for the latter year being of a valuo in total to-tal of but $24,391,533. A serious falling off indeed. But the, year 1909 begins with every prospect of a material increase during tho present pres-ent 3-ear. To the metal productiou of Utah's mines should be added tho valuo of coal produced, $3,500,000, making a total mine production of $27,S91,533. The dividends from Utah's mines in 1907 amounted to $7,G3S,42S. In 190S the dividends from Utah's mines wcro $5,537,710. A sad falling off, to be sure, but not anything like the proportion propor-tion of decrease for divideuds that the decrease shows iu general production. And this speaks mighty well for the wealth-producing qualitj' and tho sure-ncss sure-ncss of investment in Utah mines. The Salt Lake Mining and Stock exchange ex-change made a' splendid record during tho year. .In spite of tho tremendous falliug off in general oro production, there were sold in 1908, of mining stock iu and about tho exchange, 29,109,201 shares, of a value of $17,004,805.37. This contrasts iu boost-liko quaiitj most pleasantly with the sales of 1907, which were 17,725,S5G shares sold, of a value of $13,997,105.08. This surcly shows amazing enterprise aud vigor in tho stock exchange as compared with the mining production of the j'ear. During tho year tho smelters of 'the vale3' havo been hampered by the court orders issued in pursuance of injunction in-junction suits brought b3 the farmers for damages through tho destruction of their crops, as alleged, by the smelter fumes. However, the 3rcar has shown tremendous activity in the opening of reduction and concentrating plauls in tho Garfield region, at the north of tho Oquirrh range, across tho vallc- west from Salt Lake. The great consolidated plants erected hero aro tho sumriso aud delight of every expert who sees them. The expansion of tbeso plants b3' reason rea-son of the requirements of tho mines in their increased production of ore for treatment, has compelled enlargement from timo to time, and wo havo uow in that region a combination of ore treating treat-ing plants that beats tho world. And theso are being constantly added to, and will bo added lo materially the present year. |