| Show Mining Stocks Stocks Hold Spectacular ular Price Increases on S. S L L. L Exchange VOLUME KEEPS AT PEAK Over Quarter Million Paid in Dividends Spectacular price gains made Friday Friday Fri Fri Friday day by mining issues after the government government gov- gov gay gov silver purchase order orde were generally held and In most mosi instances instance added to during continued boom trading trading trading trad trad- ing on the Salt Lake exchange Sat Sat- The entire market including industrials industrials indus indus- trials on the local curb was steady to stronger retaining gai gains which constituted the first evidence of the benefit benefit- accruing to Utah from the governments government's silver slIver coinage program Volume of trading and covering of L issues ues held to Fridays Friday's peak levels with 39 issues active during the one one- call Saturday session Of Ot these 21 showed gains of ot V to 6 cents 12 traded steady and unchanged from Friday and six showed slight declines under profit taking Major Issues Reactionary Major silver shares shares' and the lend lead ing lag silver shares were generally reactionary reactionary re reo re- re with wilh profit taking accounting account account- ing big for the declines Park City Consolidated Consolidated Con Con- was easier losing 5 points of at Frid Fridays Friday's ys y's 20 point 4 point advance in tracing trac trad trading trad- trad ing lower ower et at 38 and 37 cents Perk Park Utah quoted at 4 on the New York exchange was at off 10 points on th the local market to on a share shar trade Silver King Coalition quoted at 1 10 and 1050 on the New York curb opened steady at 10 lOon on the local market mar mar- ket with 30 30 shares exchanged but bu clos closed 20 points lower at t on trading of shares Tintic Standard Standard Standard Stand Stand- ard was off 15 points trading down from its new high of to under Under under un- un un Un- der volume of ot shares Dividends Dl Are raid Paid More ore than a quarter of ofa of a million dollars were dollars were V distributed ed to tn stockholders Saturday by hr byth th the Silver King Coalition Mines company th the Tintic Standard Mining company and the Eureka Standard Mining com corn pany The disbursements were in pay meat ment of ot a cent 15 dividend by Silver Silve King Coalition and fourth quarter quarte dividends of 5 and 3 cents b by Tintic Standard and Eureka Standard James W. W Wade vice president end and general manager of the Tintic Standard Standard Stand Stand- ard Mining company compan- reported Saturday Satur day that a gradual increase in in production production production pro pro- of the Tintic Standard is planned by the company Mr Wade Wad explained that during the entire depression depression de do- p period the Tintic Standard and Eureka Standard companies have maintained employment at 80 per pc percent percent cent of at normal and that the gradual increase in production planned to take advantage of at the 64 cent price on newly mined silver will require commensurate increased employ employ- m ment rit Increased profit derived from 54 64 cent silver will vill permit the Tintic Tin TintIc tic Standard to increase ase development Continued on Pare Pane Two MINING STOCKS RETAIN RET AIN GAINS I Shares Hold Spectacular Price Increases in Trading on S. S L. L Exchange Continued from Page Fate One i work Mr Wade said Due to the fact act that thal Eureka Standard is a gold 1 property the governments government's silver program program program pro pro- gram will not affect this property Arthur Thomas mining operator of Utah and Nevada announced Saturday Saturday Sat Sat- that development work on Con- Con solid ted Metals property in the Park City district east of Park City Consolidated Consolidated Consolidated Con Con- and Park Pork Utah is planned for the first of th the year He also reported re re- reported reported ported plans to increase production and employment at the Sierra Nevada Nevada Nevada Ne Ne- vada and Cedar Hill properties in the Virginia City Nev district On authorization by the governors of or the Salt Lake stock exchange the following telegram was sent President Roosevelt by Irving D. D Lowe president president president dent of the exchange The board of governors and members mem mem- bers hers of the Salt Lake stock exchange sincerely appreciate your tangible efforts ef d- forts In making a market for newly mined silver Our miners can now go to work and add new wealth to the world May your Yuletide be joyful being full lull of honest effort and may mayyou mayyou mayyou you h have ve years of success Utah's mining industry Saturday was making plans to take full fuU advantage advantage ad ad- vantage of the silver buying program A. A G. G Mackenzie secretary of the Utah ch chapter pter American Mining congress congress congress con con- gress urged producers to keep accurate rate records of silver output from Friday Fri Fri- day in order to take advantage of the government price It was expected that a plan similar to that followed under the Pittman act silver purchases between July 1920 and May 1923 1023 when the government government government gov gov- bought ounces at 1 an ounce would be ordered Those purchases were accompanied by an affidavit from the producer which certified that the silver h had ld been mined in the United States and gave the date of mining Like probably will be required Under under under un un- der the present plan Meanwhile smelter operators were awaiting further treasury action before before before be be- fore determining a method of fixing settlement prices for silver It H was announced that a meeting will be beheld beheld beheld held next week at which details willbe will willbe be worked out The treasury has not yet announced the method by which silver producers will be paid No settlements are expected until after the holidays but it was indicated ed that in the event such action is La necessary before belore a plan is adopted settlement provisions ns on the Handy and Harman foreign silver price will willbe willbe be made |
