Show Stiffening Stiffening Prices at f Closing of ot 1921 Make Make f f Utah Mines Profitable i t r r t Strengthening Market Includes s Whole of Output 1 f in Widening Sweep Bringing in of Park Utah Bonanza Is Feature Ij IJ opening of 19 1922 was 11 a gloomy a tor metal miners Conditions mot most discouraging Low metal J high freight rates and labor the he U beginning of last Aar ar nn an un- un rable one such luch as aa seldom If ev ever r. r b een an entered upon by the mining try iry of the West Mines In tn general tM either shut down completely or org 1 4 l pf Ip tang g only on a small scale so 10 that t 1 nit bl t future looked problematic and une un- un e in But conditions turned conditions turned for the trie b er and the e year closed d with It a at I i t f of dl dividends r by tI the pro pro- ro rot pro pro-ng t t lag properties and anft the new year ear pDt e o tf with probably as II bright t an any y of as All has been foreseen In the IhO Industry I the year started out there was waa ar prices for metals with 1 exception of sliver stiver which r jo 10 O the Pittman purchase act the l agreed to purchase this c h a output at tl S1 an ounce n a 11 h ounces had been 1 t t uh 4 to the treasury But shortly ii r-e r r market began a to brighten g f fIfo t became stronger n until n the price Ifo tatty 1 dO doubled led towards the latter latterY Y pf bl bie ui year and the f extend extended lear to copper which neared I ts ta at t the clo close e of the year and J And Ud nd other baser buer metal products demand until the market ning In Utah most profitable Tg g mines mince of the state did not notting fi e Op rating ting until along towards 44 f 1932 When the managements I d a art preparations for renewing op- op ns n- n P- P a apr s they found skilled miners and 1 pr scarce oarce Men who had been em- em pored d with these companies when t I tile b closing down period came went v for employment and were re- re tnt to leave their newer work to tor toi i r return to old jobs Even at the pros pros- I eat e nt t time mechanics and machine men ate alto so scarce that It Is III hampering 1 more more extensive operations that aro are being bet be be- t ing- ing planned for tor 1923 1933 due duo to the tho still I better future prospects of the metal I market I The closing closing- gf down r. r period however i had one good e effect It gave the big producing companies an opportunity t to give all an machinery In mines and plants careful overhauling Newer machinery mai ma- ma i chinery was Installed an and the plants and operating end of the properties were put In a far tar better condition th thin than n would have been the case had the mining continued uninterrupted Some of ot the older producers with surplus cash in their treasuries did extensive development work and uncovered new ore bodies and put In general the mines mine In better condition All AU of ot this Win Wilt be reflected In 1923 1933 when the mining Industry will no doubt boom along as It has bas not done for Cor many years year Park Utah Mine Feature of Year One of the features of ot 1922 1122 mining history was the bringing In of the rack Park Utah m mine l In the eastern r Park City district It Is le seldom that a a. big mine Is produced but such lIuch was the rasp raff In thin this property Th This was brought In in a district famous alone as al one of the greatest sliver silver producing fields In the United States and aDd will add greatly to the wealth of ot the state tat Then the Standard Standrd on one of or the big bonanzas of the Tintic district found In upper levels le a silver allver deposit that rivals the ore b body dy uncovered uncovered uncovered un un- covered at greater depth Although operations were conducted only during a portion of the time during during during dur dur- ing 1923 1932 earnings earning were large and dividend payments very gratifying due to the quick recovery early In the Four lead sliver producers paid big dividends during the year ear and wound up the last quarter with al almo almost almost al- al mo most t a half hlf million cash payment to shareholders shareholder Then the Utah Copper company with Its tr tremendous Bingham operations operated for tor three periods and paid In dividends better than although operating only oDly at 60 per cent capacity With Ith J the tl price of ot copper much stronger this company will no doubt quickly Increase Its U. output until the copper tonnage will be Increased third one-third more at least I The mineral minerai Industry began In Utah only sixty years ago During fet t that period pe pe- e X ceru fe we have produced r more than a billion dollars in tn metals and more than In coal Utah's mining history history history his his- tory began during the Civil war In Inthe Inthe Inthe the year 1862 It was In May Mayor of that year ar Colonel Patrick OConnor O'Connor came with the Third California Infantry and part of the S Second Cond California cavalry to command Fort Douglas These There sol sot soldiers soldiers diers were for tor the most part Western Western- with mining era ers well Veil acquainted which had Just lust been a worlds world's sensation sensation sensation sensa sensa- tion in California and still was at that time They had been recruited from the gold panning fields of ot California California Cali Call fornia Cornia so naturally when the they landed In this mountainous country their first thought was of ot gold and precious min erale The Wasatch and Oquirrh ranges Tange loomed loome before them and It Is Inevitable that they should want to search for Cor mineral mineraI I Soldiers Granted Leave to Prospect Colonel Connor an Irishman and a lover of the romance of mining granted grant grant- ed furloughs to his soldiers to go prospecting In tn the mountains to the east and west of ot Salt Lake valley U Jt was In 1863 that the first ore In Utah was wal discovered so far as aa the mineral mineraI history of ot the state Is known and It was wall on the Jordan claim In Bingham canyon and the first mineral location was made silver Lead ore showed an during the course coune of years hundreds of or thousands of at dollars n hive have ve been taken from It and the property today Is part of that in Bingham owned and oper oper- bY the United d States Mining compan company company com com- pan pany a subsidiary of ot the United States tates Smelter Today th the history of or BID Bingham ham Is Js known the world over More Mor than five fire hundred million dollars has been taken from the mountains of ot Bingham canyon and It is the scene of the fhe Utah Copper company the largest single mining enterprise In the world which ten years dividends In has hall paid 0 amounting to more th- th than u V surplus besides creating a a. ml mammoth several of the the- theand control in and securing enterprises of ot North and ana anaU I great mining I South America U Utah ranks in t t. the production oK Production rl of ofU sliver third it e n third flip In the he e production of lead ead fourth In the production production ot c copper cop cop- p- p xo No In gold p seventh per and theother section of ot the tho other see other state slate nor no diversity of world offer the great mineral wealth that I Utah tah does in Utah stands preeminent variety smelters 14 In n There are many jf Salt Lake valley and nd surrounding din country country coun coun- of try which makes Utah the center around ore shipments for many miles Salt Lake Like Is In fact the he smelting center in the world orld Our copper copper cop cop- tons tons to per Der furnaces can treat furnaces have nave an annually our lead annual capacity of tons tons the tons the the In the world largest lead capacity and lead capacity ca ca- Combining both copper we can and do treat tread n na normally tons of ot ore In Inthis Inthis Inthis a total of at this respect we wo top them al all an exceeding Deeding Douglas Ariz the scene of oC the great B great ai P Phelps Dodge smelters bv by half a a mil ml million lion tons and Anaconda t. by by almost almost al almost al- al most a million tons to a annually a The magnitude hof hofa of this great smelter smelter smelter ter tonnage can call be gleaned gleane 1 when it is I considered that the or ores s run through the smelters of ot Salt Lake t In a few w short years will be equal Li to the 23 35 cubic yards ards of ot rent rock and earth task of connecting connecting connecting con con- taken out In fn the g Ireat the Atlantic with the Pacific oceans In the construction of the I Panama Pan Pan- anama an- an ama canal Utah Copper Company Leads Whole W World orId There Is no other single mining company company company com com- pany In the world that from Its own op- op operations produces the profit that the Utah Copper of Bingham does This greatest of ot all copper producers Is the result of oC the keen brain and wonderful wonder wonder- ful rul foresight of Colonel D. D C C. It Is s only a little over a decade ago that the great mountain of 01 very low- low grade copper ore are at u Bi Bingham g am Ya was I standing untouched lie Ile believed belleve 1 that by treating the ore on an extremely large tonnage basis and separating the mineral mineraI values b by concentration on a ascale stale scale never before attempted that It could be made Into a great paying proposition Ills idea met with rather c chill hill re reception In Salt Lake and the West Vest but when capital was finally won von to his side Colonel proved a new idea to the ste world and in ten years vears his idea ha has grown into a mining enterprise that has paid more than to Its stockholders and has est estimated m reserves of ore of tons The Utah Ufah Copper company was closed down n when the year 1922 started due to the great amount of copper on hand handin in the United States dull market and low metal prices It resumed operations operations operations opera opera- In April During the year the i company paid dividends bringing g the grand total up to the tor staggering figure of ot or 1475 a share It Is freely predicted shear that next nest y year ear this company will pa pay I dividends on the rate of not less than 1 3 a share Production Costs Lowest Since 1916 Production costs of the Utah Copper company g 30 o ot t for were e the eth the quarter u lowest ending since 1916 September September Sep Sep- when the average cost was cents a pound ace accord according Ing to the quarterly re report re- re port Dort to stockholders Costs Cots were ere cents a a. pound before credit for gold and silver and cents a pound after the tho credits Profit of was made during during- the quarter which Is equal t to a ashare share This Is an Improvement as compared compared com com- pared with the preceding quarters quarter's profit of or 43 cents a share Operations were resumed In April at atI atthe tho the Bingham mine and the Arthur mill I This month the Ma Magna na plant which had been changed OV over r to to a flotation plant Was put Into operation EarnIngs of the third Quarter were com com pound on the basis of at 1314 cents I a for copper ropper compared with 1301 I cent cents I In the June une quarter The net production of marketable copper derived from this gross output output out out- put after allowing for tor smelter deductions deduc deduc- was pounds compared tt with Ith Ith pounds for tor the previous quarter Quarte j During the period there was treated at the Arthur plant tons of or orore I ore being tons more than for forthe the preceding quarter The average a grade of oC the ore milled was 1 1286 per cent copper and the average recovery was per cent of gf the total copper contained In the theare theore theore ore are as compared with per cent copper and an average recovery of ot per cent for tor the second ter There was removed during the quarter quarter ter a a. total of cubic yards ards of I stripping being an average of oC cubic yards per month as compared with cubic yards and cubic yards respectively for the second quarter of the year The ore delivery department transported transported transported trans trans- ported a total of tons tone of oC ore are being an average of tons per diem The Bingham Garfield Hallway company operating In Its own common I carrier capacity transported a tl total of tons of freight or an average of at 2183 tons per diem In order to meet the competitive wage situation Utah Copper In common common common com com- mon with others operating in Jn the state increased wages o on oft September 1 1 50 60 cents per day to skilled labor labor and and 40 cents to semiskilled ed i State Has Three Rich Districts Districts' Besides the BIngham field Utah is possessed pO i of ot the rich Park City the district t an and ana the Cottonwoods Cot Cot- Millions IO have been en paid aid In dividends from dividends from r these e three districts districts cl which are probably the Ute three richest silver lead producing fields in the world Utah has thirteen counties that are great metal producing areas and there are man many sections of at the state that hat no attempt has been made to mine due to Its distance from railroads and the themore themore themore more favorable and profitable districts already known and producing producing- The year 1923 will see much capital come Into the We West t for the development of the mineral mIneraI resources and Utah's riches should be a magnet to attract much of ot this Besides our rich mineral de de- posits Utah has great deposits of 01 coal iron and other ores that go to makeup makeup make makeup up finer steel products as well as great shale areas sulphur deposits and Innumerable others An idea of the greatness of Utah Utah's mineral mineraI resources can be gleaned from the followIng taken from the report of V. V C. C Heikes tot the United States geological geological geological geo geo- logical survey and distributed early In December 1922 The following IS 18 based on these thesa government figures which are authentic In Beaver county there are art four producing fields the fields the Preuss cuss Rocky San Francisco and North Star districts The total value of the ores taken from mines of these fields eldA were and the total value up TO 1922 is 52 Two producing fields exist in Boxelder county the Ashbrook and fields el So to far operations I In these J e ag ih districts c are e limited d to those of the Silver Sliver Mining Mining- company compan which treats In siliceous silver sliver ore and has a flotation notation mill with a 1 ton dall daily ca Ca- Ca In the Lucin district the Salt Copper company the principal operator operator oper oper- ator has geological surveys of ore bod bed lea ies s. s 0 ramous Famous TintiC District The Tintic district 01 of nt county w which Includes a number of important mines in the eastern part of the district that are actually in Utah county possesses some ome of the greatest lead producers In ln this county Is also the Fish Springs district where are found the Utah Carnation Carf and Galena prop Jua Juab has paid more than 37 in dividends in the period 1860 Jo 1922 Total tal ore values last year vear were and Included gold silver copper and lead In the year vear 1920 the theore theore I ore alues values from tram this cou county county- ty amounted to which Is nearer the values vales vallies val- val lies ues es for 1922 That the Tintic district Is practically In Its Infancy is evidenced b by the fact tact that the Mining Alining company company- brought Into existence a mammoth new ore body only a few tew years ago In a section of or the district that never before had peen Deen scarcely scratched now indicates that it ma may possess a great bod body of 01 silver silver- lead numerous other properties of that district are just lust undergoing the period of development that should bring Into existence rich new ore bodIn bed bod- Its les In Plute county the Mount Baldy Eddy and Ohio districts are reported The report report re |