Show I UTAH TRADE HITS LI YEAR THREE PEAK Mining fining Leaders Hail Statement From Government By United Press Fress WASHINGTON April 10 Secre 10 Secre Secretary tary of Jf the Treasury Henry Morgen- Morgen thau Jr said today after conferring with President Roosevelt that the treasury would meet the world silver price if it rises above the amount now being paid to domestic producers l announcement followed fol lowed a similar intimation by President President President dent Roosevelt The world price is isnow isnow isnow now 64 6 1 3 cents an ounce The government government gov gov- is paying 64 2 1 cents an ounce President Roosevelt had said that thai if the world price of silver went above 64 2 1 cents it would be a good Idea to watch the situation for develop develop- ment Utah Le Leaders Leaders- Hail Statement Statement Anno Announcement that the federal government government government gov gov- would meet any advance in inthe inthe the he price of silver above the nationalized nationalized nationalized nation nation- level of 64 2 1 cents was hailed as reassuring and and a logical step by Utah mining leaders Wednesday Secretary statement state stateS ment said A. A G. G Mackenzie secretary secretary secre secre- tary of f the Utah chapter of the American American Amer Amer- ican Mining Congress is reassuring It ind indicates a willingness on the part of the government to to meet any increase increase increase in in- crease in world silver prices It should have a stabilizing effect on the mining industry His sentiments were echoed by W. W Mont Ferry chairman of the mining committee of the chamber of commerce commerce com corn merce and managing director of the Silver King Coalition Mines company and James W. W Wade general manager o of the Tintic Standard Mining com cam pany They rhey pointed out Jut that it is a logical step f for r the government to take in supporting the mining industry Mining leaders while noting the steady increase in the price of silver silver- foreign silver rose 1 8 1 cents to a high of 64 8 1 cents were Wednesday Wednesday were cautious as to how the government action would affect the local situa situa- tion The sharp rise in silver prices Wednesday Wednesday Wednesday Wed Wed- brought the increase since the first of the year to 10 cents The present pres pres- ent eat level 64 8 1 cents is the highest price paid for foreign silver since July 29 1926 Local silver producers on December December December Decem Decem- ber 23 1933 when the nationalized price was fixed at 64 2 1 cents w were re receiving 43 cents |