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Show CONDITIONS ON MINING EXCHANGE ARE CHANGED "With this' distribution the company la paying its shareholders a monthly rate, based on the present pries of the stock, of 2 per cent per month, besides piling up a comfortable surplus In the treasury treas-ury for further development and equlp-j equlp-j tnent at the. mine, as the conditions may require. The ore being taken from the mines Is a high grade silver-lead silver-lead product and despite the fact that the output has to be hauled a distance of fifty miles over the desert by wagons to the railroad loading station, the consignments con-signments are netting the company a nice profit after all charges have been deducted. TO WOKE IN AMERICAN FORK. For the purpose of operating the Commercial Mining and Milling company's com-pany's properties in American Fork canyon, articles of incorporation were filed yesterday at Provo. The capital-, capital-, lzatlon Is $20,000, divided Into shares of 10 cents each, and the officers of the company include W. H. Grant, president: presi-dent: C. W. Earl, vice-president; James Chlpman, Jr., secretary and treasurer, who with W. T. Richardson and J. H. Wooton form the directorate. The property has had considerable work done upon it in years past and with the Improved methods for mining and reducing re-ducing the ores It is thought that the proposition can be placed on a paying basis from the start. There was a decided change In the operations oh the mining exchange this morning, and the large volume of business busi-ness that , has characterised the proceedings pro-ceedings during the week -was reduced to a minimum, with a total of 8250 Shares coming out during the entire morning hours, for which the amount used up In the trading was only $1976.50. Prices were reduced In every instance where there was a sale made, and even the most flourishing of the lesser propositions propo-sitions were not spared In the raid that . .was made on all the securities. , Daly was pushed back to a selling price of tl under the weight of 350 shares, while Lower Mammoth wobbled back and forth between 33 and 35 cents with the turning over of 1500 shares. . and Butler-Liberal was held around S t cents as the owners of 3000 shares were Induced to part with their holdings. On the open board Century came out from its long seclusion and transferred 600 shares at 5 cents; Star Consolidated was held down to 12 cents with the satisfying sat-isfying of an order for a single lot of J 100 shares: Tetro loosened up 1000 shares at 6 cents, and Wabash was advanced j from 70 to 80 cents with the passing I around of 700 shares. 1 j The closing quotations on the regular j order of business were as follows: . , Bid. Asked. I 1 .15 I .16 j Bnlllon-Beck l.Ort 1.50 Carlsa IB .17 : Consolidated Mercur c9 .81 : Daly 95 i.io . Daly-Judge 6.50 7.00 ; Daly West 4.00 15.00 i Xagle 4r Blue Bell 1.00 : Grand Central 2.50 3.50 ; Horn Silver l.so 1.86 ! Little Bell 1.87 1.S6 j Lower Mammoth 35 .35 I Mammoth 99 , Ontario 1.80 2.50 ; Silver King 56.00 : Sacramento .09x1 . Silver Shield 14 j Star Consolidated 12 Swansea J2 .85 J South Swansea 02 1 United States 34.50 36.00 Vtah SO .BS I TTncIe Sam S2 .34 I Victoria 1.10 1.65 i Boston Consolidated 17.62 19.00 Butler-Liberal og .08 ! Beck Tunnel 20 .26 I Century 15 ! Ingot .0H .02 Little Chief W, .01 New York .17 .19 ! Richmond-Anaconda 04 ! Tetro a 06 .06i ; "Wabash 60 .77 Tankee , 31 1 Jim Butler 70 .78 ' Montana-Tonopah t.40 2.50 Tonopah Common 12.46 1S.26 t Tonopah Belmont 1.50 1.62 j Tonopah Extension 6.00 6. 60 ' Tonopah Miay 1.40 1.50 MORNING SALES. Daly. 100 at $1.07: ino at 31.05; 59 at $1.00. ' Lower Mammoth. 500 at 33c; 100 at 31c; 100 at 35c. . Butler-Liberal. 10 at 8c. . OPEN BOARD. Butler-Liberal, 1000 at 9c, buyer 60 days; . 2000 at 8c. Century, 500 at 6c. Daly. 100 at $1.00. Lower Mammoth, 300 at 35c; 500 at 34c. Star Con.. 100 at 12c. ' Tetro. 1000 at 6r. Wabash. 100 at 70c, seller 60 days; 100 at 75c, seller 60 days; 500 at 80c. TOTAL SALES. - Regular call. 1950 shares for 3583.50. . Open board, 6300 shares for $1362. 1 Total sales, 8250 shares for $1975.50. WATER STILL POURING FROM THE ONTARIO MINE. Manager Rood is personally directing the affairs at the Ontario drain tunnel, where It Is reported this morning that the usual flow of water is coming from the mine, and while there has been no perceptible change in the amount of water that has backed up in the main shaft, this was anticipated by the management, man-agement, as there are miles of drifts that the water has to be drawn from before the water will begin to be drawn from below the 1300-foot level. The tunnel gives no evidence of a break because of the tremendous volume vol-ume of water that is rushing through the long channel, and as the strain has been withstood for several days, It Is presumed by those who have been watching the unwaterlng of the great mine that the timbers are strong enough to hold out until the pressure has been reduced so that the men can go into the channel and brace the water-soaked ground. No estimate can be given of the length of time it will require to drain the Ontario, but it is the impression of those who are conversant with the situation sit-uation that next week will witness the reducing of the flow from the drain tunnel, and that the great water courses of adjoining properties will then begin to be drained. MONEY WILL BE PAID FOR THE OHIO PROPERTY. President Catrow of the Ohio company com-pany is scheduled to arrive from the East within a few days and It Is said that the money for the purchase of the Ohio copper property by the Jackllng-Neal Jackllng-Neal syndicate for a consideration of $750,000 will be paid over. The option under which the mine is being opened up by the Colorado crowd will expire on the first of the coming month, and as the ground is reputed to have been sold to the Guggenheims for $1,500,000, It is safe to presume that the money to be paid the Ohio crowd for the release of their title to this valuable copper-bearing group will be forthcoming on scheduled sched-uled time. It is understood that the Ohio mine Is to be operated in conjunction with the Utah Copper properties by the same company, the control of which will be vested In the Guggenheims, and together to-gether these two properties win become be-come one of the greatest producers of red metal In the entire West. AFTERNOON CALL. () The minln- stock dealers made no 5) trades on the exchange this after- fS) noon, and the session passed with- (4) out a single transaction. (?) ORE SHIPIIENTS. The Pioneer sampler reports the receipt of one car of ore from Tmtic. two cars of ore from Bingham, three cars of ore from Alta and one car from Stockton. Taylor-Brunton Taylor-Brunton sre In receipt of one car of ore from Nevada, nine cars from Tintic, two cars from Bingham and -one car from Idaho. ' Child, Cole & Co., Broker, 100 Atlas block. Both 'phones 325. . ILLINOIS-RAYMOND GROUP FLOURISHING. Manager J. C. Sullivan is up from the ;i Tintic district, and reports conditions ; at the Illinois-Raymond group very promising. Drifting from the lower ! workings Is being pushed ahead rapid-' rapid-' ly, and there are some favorable indi- cations of a good grade of ore being en-' en-' countered within a short time at several sev-eral places the men are now opening j up- This property . is favorably located, and with the present depth of 1500 feet that has been attained, it seems very likely that a good producing mine will J be developed under the skilled dlrec-- dlrec-- tlons of Mr. Sullivan, who has had a ; jreat many years' experience In the dlf- ferent camps of Utah. i DIVIDEND POSTPONED BY UNCLE SAM CON. At the regular monthly meeting of l"ithe directors of the Uncle Sam Consolidated Consoli-dated yesterday. Superintendent Grigg jgave a very interesting report of the ''.improved conditions at the mine and luxated that the month had witnessed Jan unprecedented amount of ore sent to he market, while the underground V onditions were Improving all the time. J After auditing all bills and accounts Vor October, the directors decided to : postpone the payment of a dividend for another month, as it was thought to be the best policy of the company to build , up a larger reserve fund In the treasury to carry the property through any ( emergency that might come up during ' the winter months, when the output Is often curtailed because of the bad con- dition of the roads. MINING BRIEFS. Manager C. H. Doolittle of the Utah & Eastern Copper company returned from the East yesterday and Immediately Immedi-ately set out for an Inspection of the mines at Bingham. Manager Bettles has forwarded a hoist and pumping plant for the Han-napah Han-napah mine In Nevada, to expedite work in the sinking of the main working work-ing shaft of the property. Ore and bullion settlements yesterday amounted to $87,300 and was divided as follows: Base bullion, $26,700: gold bars. $13,200: silver, lead, gold and copper cop-per ores, $47,700. Thirty tons of $200 ore Is on the market mar-ket from the Nevada-Alpine mines In Nevada, and the O'Meara-Lynch syndicate syndi-cate are maintaining an output of a car of this stuff per week from this proposition. President Thomas Weir of the AJax mine took the train today for Tintic to make an Inspection of the mine and give orders for further developing some virgin ground. An amendment to the articles of Incorporation In-corporation has been filed by the Ute-land Ute-land Mining company, increasing the capitalisation to $4,000,000 to develop asphalt properties In the Uintah reservation. reser-vation. Supplies of only a month' ahead are on hand at some of the Alta mines, as the operators claim that they will have no trouble In getting their provision In camp over the snow during, the winter. A suit for $50,000 damages has been filed In the United States court against the Bingham Copper and Gold Mining company by the Lime Kins Mining company for the consumption of lime rock. NO SHUTTING DOWN OF SMELTERS OR MINES. V Manager H. G. Williams of the Utah Fuel company says that the threatened Ixjce famine Is at an end, an. sufficient "repairs at the Sunnyalde plant have been made to insure an output of 250 tons daily. A considerable portion of the crushing crush-ing plant can be repaired and placed in commission within a short time, while the rebuilding of that part that was totally destroyed Is now being ' rushed to completion. The entire damages will be rebuilt within the next sixty day and in the meantime the supply that can be turned out at the Sunnyside plant, with that to be provided pro-vided from other sources, will prevent the shutting down of any of the smelting smelt-ing plants of the State. This announcement will be received with delight by all classes, as It means that there will be no laying off or men at any of the smelters, mills or mines of the State. . EARNING 2 PER CENT A MONTH. Directors of the Utah of Fish Springs met yesterday afternoon and posted the usual monthly dividend of 1 cent per share, or an aggregate amount of $1000, the same to be paid next Tuesday, the tock books closing Saturday at noon. |