Salt Lake Tribune | 1915-11-18 | Page 10 | Rise in Metals Boon to Mining

RISE IN METALS Advance Increases Material-1 ly Earnings of Producers; Properties Resuming. i TTiousands upon thousands of dollars are being added to the earnings of I he various mining companies operating throughout Utah and adjoining states by the readily advancing metal prices. Silver Sil-ver was quoted in New York yesterday yt 51 conts an ounce, the highest it has been since Man-h 10 of this year. Read was quoted yesterday at $;.2f per hundred hun-dred pounds, spelter was quoted as fluctuating fluc-tuating between $17.75 and SI. 25 per hundred pounds and copper advanced to '.) cerifts a pound. Properties throughout Utah tha.t have been unable to operate with lead quoted at S-1.20 per hundred pounds resumed operations opera-tions when it rose above that price. This has mea ut the employment of more miners and,' as a consequence, putting put-ting Into circulation thousands of dollars. With lead quoted at $5.25 per hundred pounds, mining properties that produce ores averaging :iu per cent lead to the ton receive an increase of practically $7.50 per ton. Many of the larger companies operating throughout the slate have been paying dividends with lead quoted around S4.5U per hundred pounds and with silver quoted quot-ed around 49 cents an ounce. H may be readily seen wha t. the. advance in those metals means to thoe companies. Vive nf the principal properties operating in the Park City district produce yearly approximately ap-proximately 40.000 tons of crude ore and about 25.0HO tons of conceiitra I es. The average silver content is about 40 ounces to 1 he ton and the average lead content is a bout 30 per cent. The Riugha m dist rit produces abAut 1 4o,000 tons uf crude k-ad ore per year lhat averages ahout 7 ounces in silver and is 16 per cent lad to the ion. Be.ivpr county produces about 12,000 tons of crude lead ore per year with an average, of about is per cent lead to the ton and about ounces in silver to the ton. The Tintie district ships in the neighborhood neigh-borhood of 135,00 (tons of crude lead ore that runs ahout 15 per cent lead and about. T2 ounces in silver to the ton. The Ophir-Rush Valley district's output ifi in the nrigbhorhnod of 20. 000 ton;- per year wirth an average of IS per cent lead to the ton and 14 ounces in silver. The Cotton-woods Cotton-woods are at present producing about 15.-00O 15.-00O tuns of crude ore that will average 13 per cent lead to the ton and 20 ounces In (silver. Practically every district in the slate is producing zinc ores anrl copper ores and the companies are materially affected by the advance in tho prices of those, metals. Minfng operators throughout the tfta'e are raking a. decidedly optimistic view of the fnt ure i.f the iiulusi ry, according to th1 reports reaching the local smelting officials offi-cials and the lu- al ore buyers.