Salt Lake Telegram | 1927-12-28 | Page 10 | Mining, Oil and Financial Notes

Mining Oil Oi and I Financial Notes I Q SILVER MII CEDAR CITY D Dee Dec e. e IS A. A. A. A L. L J. J Wood Wood- Wo bouse bou receiver for the Sliver Silver Consolidated Consolidated Con Con- COl- COl Mines Mine company announced tb lb aal I of the mines mine to Samuel L Silverman Silverman Silver Silver- man of New York Cl City on December Jl 2 2 for or UtO with wih contract to proceed ImmedIately with wills lh the development of the th b property FlU Fifty year leer ago aco the Sliver Silver Reef Ruf was wa one ne of tb lbs tb country country's best beit bt silver diver lyn producers pro- pro but due dr tle mainly to the th effects effect of f the free frn pusey lyU presidential cam cam- sign palm of 1116 In when sliver lur wa put on the he free fre list Hit the Silver Reef On finally al went tnt nt Into the Ih hand of the receiver lver shortly alter after ate noo Under the th guidance of f Mr l. l Silverman who vho ho i 4 a prominent mining otto man mn and his has h. h been barn for bringIng In mn many produce producers a repetition of the balm balmy days day dar of fifty years yur ear ago alo 1 Is I. expected The Th possibility possibilities of f the Reef Ref are great ret and nd It I I t. t that the present owner will wi proceed immediately t with the th construe on of a milling I plant Mr Sir 11 Silverman hiving having left Ift Saturday evenIng for Lo Los Ls Angeles where her be b. will 1 pend spend the bOlda holidays the tho present op opera opera- ra- ra Ions ton will wi be b. b under th the direction of Alex Colbath who was Instrumental In tn ac ae- and forming the Silver Reef Ruf Consolidated Mines MIne company compan APEX It 10 I 1 I i rumored that tha Utah Ulah Apex Ap ha has ba made a a. strike at t Canyon It I t Is true true- that continuation of upper ore or r bodies bodic has luas b. b been n encountered on lower low low- er cc r levels levet Richer Riche or ore are h ha ba i also allo been ben found on the foot levels level lOut But Iut It I Is I. Isoo too oo early to state tate that new leW ore or bodies bodie bole have haYe been discovered m melt ment The O of company ol lower portion ha has I n continued O of I the mine development develop and od I will I start drifting on the 2 foot 0 O level tad I in n about a menlO From there a t. t s being aun sung to the foot levels level lenti The company will wi experiment with dIamond diamond dia dIa- mond drilling In 11 n the bard Due to So the better metal prices the tile company operation ha b. has recently been ben somewhat more profitable For ton Ion work ork It U ha has bu been ben spending around per month and recent recently It more than han covered this expense and nd b. b has hassent sent ent east to t the e main office Resumption of of dividend dividends depends depend en- en Irely upon a a continuation of Improvement Improvement Improve Improve- ment In copper lead and zinc Inc prices With of net net quick Utah Apex 1 in In very good coO financial shape If I. I f as ae has' has been rumored zinc products en ts cooperate to strengthen prices price and It If f lead led prices prIce advance further a dividend divi may be expected for It I Is the cm corn com pany's pany disposition to reume payments payment just JUIt ai as a soon a as possible COPPER SITUATION Although there has hi been some lame let let- down lown In the domestic demand for copper copper cop per export port I is l brisk says 1 tho the Boston News ew Bureau The heavy decrease of ot free stock of ol copp copper r at European centers center makes make II tt imperative for foreign buyers buers to Import Im Inv port their supplies with will wih continuous men ments I from this thle country countr Europe I. I In position to consume larger tonnages tonnage of copper and an expand expanding In overuse oversea de demand demand demind de- de mand mind I Is confidently looked for In th the next two years yer The domestic market maket Is steady with leading producers producer holding at 14 J. J 1414 tents Cents d delivered Connecticut valley aley point points A title little outside copper Is I. available at 14 1 cents for prompt shipment where ready rady cash Is I wanted by sellers Manufacturers ers era o of at sheets wire and tubes are coverd covered cov coy ered erd for the next net few ew weeks but but a heavy tonnage will 1 be needed for American consumption during the Ir quarter of 1928 1125 1