Show GOLD INDUSTRY I BOOST HAILED i if Government Controlled Market Mar- Mar 2 rl k ket t Expected to Boom West Operations ot t o DENVER Colo Col Oct 24 UP UP- UP Thc UP-Thc The e greatest revival In 25 years in the gold mining fining industry of the Rocky moun ain states was WM ras predicted today by experts exper 2 Mark A. A Skinner superintendent of the he Denter Denver mint asserted that the announcement of President Roosevelt that the government would buy anc ancell and sell ell the yellow ellow metal in the he world work would at once result in hi bringing bring bring- ing new money into the financing o ol of t the e industry with increased opera opera- Ill predict Skinner said that governments government's entry into the mar mar- ket will bring the greatest activity in the mining fields the west has witnessed wit wit- in 25 cars Boost Dood Operations t- t t t. He pointed out that purchase o ol of gold by the government will speed speedUp speedUP Up ip mining operations s because miners land and nd producers will viIi vill ge get their iE m money ney much quicker under the new plan pInn of faction J. J The government has been acting as commission broker in irs the gold market mar mar- J ket ct De Denver Deer er and nd other min mints ls Essayed assayed ayed the gold sent a report of the gold content to the Federal Reserve bank t Kansas City and the bank there advised the Federal Reserve bank at New ew York how much gold there was lor or s sale l lc The N New w York bank would then offer oller the gold on the market and nd a aa qs I Ij j a result of this procedure gold producers producers pro pro- I would not get their mom money for sour lour or five weeks This tied up large Sums of capital and it was reported that re recently a well known Colorado mining company had outstanding ing ng In the world gold market Spee Jy Payment T Skinner predicted that under the Hew lew method the producer producer- will get bis money in th from five to seven days das daysI I Just how the I R. R F F. C C. C will function Jn n the market has not been revealed nor has the date of opening of oC active operations been announced Jesse F F. F McDonald president of the Colorado Metal Mining association said aId If the government establishes h ii 0 price above the London price of I about 29 an ounce it will benefit western vestern mining immens immensely l E Easing sing he present embargo will not help helpa a great deal What we need is 15 a substantial sub sub- market in this country |