Show i w II I. I I. I SILVER AT 1 IS PREDICTED BY G. G H. H DERN I One of Three Utah Delegates Delegates Dele Dele- gates to Washington Conference Returns I Confirmation of the reports from Washington that the the- government probably probably ably would set ct a price of 1 on silver sUver and that congress would cure some some 1 of the defects in the ex excess profits provisions provisions pro pro- visions of the new revenue law but that owing to o over production n no a at attempt attempt at- at the theo il pi tempt would U d be made to set a price e elead on lead has been brought to Salt Lake b by George H. H Dern Der With W. W Yo R. R I Wallace Valace and A. A A G. G Mackenzie Mackenzie Mac Mac- kenzie kenzle secretary of the Utah chapter r of the American Mining congress ss Mr r. r Dern represented Utah mining interests at the recent conferences lr In II Washington with officials of the government arranged as the result of the conference held in Salt Sal resul hs month I rr Mr Den Dern stated that while no action acton thus far has been taken by the government government government govern govern- ment regarding the price of oC silver siver he said that there is a strong probability that a firm price prie of 1 1 an ounce will wt be beThe filed ted The present economic position of silver silver sil sU- sil- sil ver er Is exceptionally good and If the price and were nd JO JOd d demand determined e d de do it e would o by id unrestricted apparently s d ds s soon supply go goto goto to th the historic price of and perhaps demands de demands demands de- de even higher said Mr Dern as the mands are arc ar heavy and there are no stocks to draw upon The United States has a trade balance against it in India China and Japan by reason of the fact that we a are Importing tn Immense quantities a es of jute e ea and JmJ other war 1 materials I from est t the jl Orient and not exporting enough to those countries to offset what we are buying The balance which Is now reported to be mu must mut t be paid either In gold goldor or silver The United Stat States s government government government govern govern- i ment wilt will wi not permit any gold to go out I of ot the country countr hence silver siver Is in demand It I was pointed out to officials of the I government that owing to the increased cost of oC production the present price of 85 cents an ounce does not net the miner i any more than the prewar average of 59 39 cents The treasury department officials off off- dais appeared to realize the situation and deferred d action acton pending a conference with wih represent representatives of the British gov gov- At present there is an overproduction x of lead with wih a price so low as to be unprofitable under present conditions for formost formost formost most of our Western Wester mines although still profitable for the Missouri mines which are producing lead for 3 34 to 4 cents a pound The producers took tok the stand that they do not desire a maximum price put upon lead and that the situation situation situa situa- tion would be taken care of by the law of supply and demand There is no doubt that the excess profits provisions of th the new revenue law which by limiting the normal income to 7 to 9 per cent on the invested capital work worl a peculiar hardship in the caes cacs oCa of oC ofa a a. wasting industry a a 1 a mine in which income is not profits because its is capital Is being exhausted will wl be amended In some respects during the present session session session ses ses- sion of congress Mr Dern Dem er said the committee is deeply indebted to Senators King and Smoot for their assistance NEW YORK BOND fOND QUOTATIONS J. J A. A Hogle Co furnish the following follow follow- ing lag quotations received over their private pr- pr vate ate wires Ires this afternoon I Bid j I Asked I i i I Atchison Gen 83 83 B. B 0 gold 7 7 71 Bethlehem Steel ref 5 li SS Central Pacific 1st 78 78 C. C B. B Q jt it 9 92 St. St Paul gen 84 92 C. C N. N W W. gen Is 79 84 L. L N. N un uni 45 84 New York ny fly Ss 16 16 Northern Pac P. P L. L 45 82 S1 83 I ReadIng gen gel 4 81 81 81 Union Pacific 1st 86 87 I U. U S. S Steel Is 94 94 U. U P. P 1st ref 76 86 S. S P. P cv re 8 St S. S I cv 45 73 f 74 Penn Pen Con 9 97 Penn Central 4 48 s SC G 86 C. C O. O cv c 5 55 73 4 74 O. O S. S L. L 45 83 83 z 83 3 s J Anglo F Oct 1920 1920 88 89 U K Sept 1918 9 97 U. U K K 8 5 s Feb 1918 99 99 13 1 K 5 s Nov No 1919 95 96 I U. U K I. Feb 96 97 1 U K Nov 1921 1921 91 91 A. A T. T Sec s. s Aug 1919 94 9 I Rep France is 58 1931 1921 12 Paris Pars 65 Oct Oct 1921 81 82 French 1919 94 94 Marseilles No 1919 83 2 84 Russian Exten 1921 1921 43 44 4 Russian Inti Int s. s 1926 89 92 Dom 5 Aug 1919 1919 93 93 Dom 55 Apr 1921 90 92 Dom Apr 1931 88 89 Dom Gs Apr 1926 89 90 I I Argentine 65 May lay 1920 1920 92 92 Don Dom Is Gs 1937 91 1 92 92 I U. U S. S Lib 1st U. U S. S Lib lAb 2nd 04 I BOSTON GOSTON STOCK EXCHANGE CLOSE Badger Bros brokers broker South MaIn furnish the fOllowing quotations received over their private wires this afternoon Bid I Asked Calumet 8 Arizona 59 I 60 Calumet Hecla 59 Centennial 12 14 1 Copper Range 4 42 45 3 Daly West 1 2 East Butte e S 9 Franklin c 4 4 Hedley Gold 1 15 Island bland Creel Creek pfd 81 83 Indiana j 9 95 Lake Copper a 51 i Mayflower 7 75 Michigan 1 15 22 Mason ason 4 5 N North rth Butte 32 13 i Pond Creek 17 i Shannon 5 5 54 I Superior Boston 7 2 s 31 South Lake 5 1 1 HI Swift Co Co 18 1 i Tuolumne i 1 i United Shoe M. M l. l 59 39 40 Utah Apex 2 2 United Fruit 42 Wolverine I I 31 32 21 |