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Show THE SALT LAKE TRIBUNE, SUNDAY MORNING, MARCn 21, - t PflYiNG 1D20. .9 Miners Debate of PROFITS Advantages Agriculture Have TWO miner were passing through Activities During Eighteenth Operator Talley, and were discussing the sale of con at four Made Business Pay for Year Show Satisfactory eenta per pound on the ranch. Thata ISO a ton, Billy. Over Fifty Year. Profit and tha same aa Scotch thats Tee, (100 tha railroad." "No smelting chargee to be tlther." on The o.l snals Industry had its beginpaid, ning In the vicinity of Glasgow, Scotland, about 1850, says tbs Shale Review, and car of "A couple of forty-toby some the birth of the Industry la rea man that to put ought garded aa marking the beginning of the la clover." Tle the eorld. of trade great petroleum Industry flourished for about ten years, "Tep about 18400." or until 159, when petroleum In the "These farmers don't have to crude state was found In Pennsylvania. This gave the. business a severe backset, work in bad air. That's worth someoelng to the Importation of petroleum thing. from America to Great Britain. In U71 the Scotch shale Industry was producing "Ton 're right, Billy. Nor do they ser from oil a ;s,600.000 gallons of crude have to be afraid of falling rock; fifty-en- e different oompenles. In 173 tio that's worth something, too." industry was reduced to thirty companies and a, the present time the business It "And when the stope is worked concern. ons of In hands tbs practically out they wait for s year and go Itscent developments Indicate that A Oil company, the great Brliinn back and work It again." the organisation operating throughout world, la planning to absoib all the "Pretty soft, thli farming game; tish plants or bring them under one or-why dont you try it7" will ba conrolled by sanlaatlon, whl-"Who, me? Nothing doing. If companv. ijheTheparent vast bulk of ths oil shale In I didn't get sunetruck step on a America's grsstest fleM Is not smensbls snake.. Nope, mining's good enough n to treatment by foreign processes. There ere fields In' this country for me. Ploche Record, Ploche, s 1th shales that respond to the foreign Nevada. processes, and It would seem that opera-- t one might be begun early In such fields. An Instance may be noted In the deposits near fclko, Nv where the Southern He rifle railroad Is completing a plant that will employ the Fumpharelon retorts as vsed in Bcotand: but the oil shales In the vast field that covers northwestern Colorado, northeastern Utah and south western Wyoming are cniefiy rocks that are refractory to the proved foreign proc esses, and activities have been neceaaar lly delayed until such time as American inventors shall he ready to guarantee the pro' esses and apparatus. Numerous American processes have been advanced. Of these, several have already been discarded. Others are be to lleved possess merit, tut have been demonstrated only upon laboiatorv scales, so that skepticism prevails among oil Ore Deposit Being Followet shale companies managers regarding these asms processes whan they shall he of to handled upon full aca'e. SHU others a very few bava approximated success In commsrcial trials, but their 'nveutora or manufacturers ars no: ready to tneisll these processes under siiootuntlal guai ant ere. So there Is where the Industry stands Ons of tha most promising ora bodies this winter. The wrl'cr Deli that In stallattons are being withheld to some ex yet encountered In ths north drift of the lent beviune our America" Inventors, aa a rule, happen to be mot of limited ft Eureka Croesus at Eureka. Nev., was nanctal rereurcee men who cannot erect truck the past week on the northwest commercial else units and operate them crosscut on ths 400 level by a wlnxe sunk Is or caoacltv time oasis that upon any to & depth of about twenty-fiv- e feet, ac satisfactory to critical oil shale managers cording to Julius Huebner, superintend or engineers. enL This find has every indication of Ths Industry lacks the Interest of men being a large ora body, and Is. according of means., with wlds vision and willing to ths Eureka Sentinel, one of the most to do pioneering In what gives promise romlalng that has been struck, for It la of devalopment Into one of the nation's eadmg for tbs Junction of the two fls greatest and most ex till branches cf urea, one of them running north and manufacture. If a few wealthy men south and the other running almost at would give a little of their money and angles. It Is thought that when a good measure of their attention to the right this Junction Is reached there will ba commercialisation of a few of the most found a very large body of ore similar promising inventions for oil shsle treatto one disclosed In ths Old funder ment they would not only prove useful bergthsworkings. cltlsens. but they would unquestionably work aa rapidly as possible Pushing ittaln Interest! In tha Industry that toward the tha old Atlas shaft, another cross .'jwetuld render aubstantlal returns on ths fissure has been discovered that was not relatively modest Investments. located by ths miners working there In Possibly what has just been said may early days. Thla fissure has cut off be taken bv the reader as depreciatory the ore from ths workings above, and of all developments to date In oil ahale the slid It to the and while drift haa methods No such disparagement Is In- lng on this fissurewest, the ore wss found tended by the WTfter. A few processes to be and gain, appears going down on have been owned by men having ample ths same course It did above. At finances for research and read progress present It Is not as as Urge as some of has bean made. the old bodies discovered, but it continues to widen as It Is opened up. Tbs grading for the new machinery Is CADMIUM now completed, and as soon as the lum is received the building will be put SHOWS DECREASE her up and the machinery, which Is now on ths ground, will he put In running order. WASHINGTON. March The output of metallic cadmium In 19! 99,931 Railroad Bonds. compared to 127,164 pounds In pounds 1918 and 207.40 (At by J. A Hfle A O.) pounds In 1917. the maximum output In the history of ths IndusThs production of cadmium sultry. phide wss 31,197 pounds, compared to 61,702 pounds In 191. The combined vsl-u- e of metslllc cadmium and cadmium sulphide In 1919 was about 1160,000. com- $75?. fill in 1918 and 37(.03( In figures, computed bv C. E. are made public by the geological survey, department n high-grad- e ncbi-Pertl- X Id Two Junction Fiuures. OUTPUT OF I. s flctd gto prices of cadmium were some-lowIn 1919 than In the three I? ears Immediately preceding, ths Indus Closed the year In better condition ary thag In 191. for ths reason that the consumption practically reached the level "established In 1916-1and this, with ths decreased production, operated to reduce Itocka. 1, INTIC SHIPPERS NUMBER SEVENTEEN ' tSpecial to The Tribune. EUREKA, March Seventeen mines participated In the total shipment of 149 carloads of ora from the district for ths eek closing last night, aa compared with carloads for ths week ending March fll. Chief Consolidated, with a total of 'forty carloads shipped, leads the list; Dragon Consolidated, with a total of 24 arloads, la second; Tlntlc Standard, with J20 carloads. third; Colorado and Eagle and Blue Bell, wdth 1 carloads Shipped, "tied for fourth place. J' Mines and the number of carloads .Shipped follow: Chief Consolidated. 40 carloads; Dragon Consolidated, 24; Tin Ale Standard, 20; Colorado. 13; Eagle and Blue Bell, 13; Iron Blossom, 1; Mammoth. 6; Victoria, (; Gemini, t; Grand Central. 4; Centennial Eureka, 4; Beck, 3; Eureka Hill, 1; Swansea, : Sunbeam 1; Victor Consolidated, 1; Empire Mines, 1. Total, 149 carloads, 20. g3 WASTE BEING SOUGHT AUSTIN, Texas. March 20. Ons of the chief causes for tha great waste of natural gas In Texas Is the grossly quale royalty usually paid for gas by the operators, according to a statement by ths oil and gas division of tha Texas railroad commission, Tha landowner haa so little at stake that ba rarely takae any action to prevent tha waste of hts product, tha statement said. The operator gets gas so cheap that he has practically no financial loss regardless of ths amount of wastage. "If ths landowners would demand an eighth rovalty on gas as welt as oil, leas gas would be wantonly wasted, and all concerned would get larger returns on their Investment RUSH FOR OIL LAND PREVAILS IN CANADA EDMONTON. Alta, March 20. Application for lease on oil and natural gas 200v9oo areas, covering approximately acres In northern Alberts, havs been filed with the dominion land office recently. In ths ares Tha rush has centered along ths Athabasca river, between Pelican rapids and House river, and around Birch lake, south and east of lnniafree. Another popular district lies shout Great Klava lake. Other leases have been taken In ths Mackenxls river district, near Bear Island. Unatod. DCLCTH. Miss., Mirth 20. LlsseeS. M 12. 2est in the Long Run' 7., 'ANY A. MAN who would .not buy a tire (.70 because it was cheap will.buy an inner tube simply because it costs a. dollar. or two less. Yet the performance .of the tire is often dependent upon the service rendered by the tube. It is a. wise economy to equip with Goodrich Red Innerlubes in the first place. I E F ' High Price for Silver Cer tain for Years to Come, Says Financial Expert I i (GoodliPiic. In view of the recent recessions of silver, ths analysis of ths future of ths whits metal as given In the San Fran claco Chronicle by Dr. J. M. BchumanfS Is of considerable Interest. In this article Dr. Schumann soya: I am often asked the question by the layman, as well as financial interests Why this phenomenal runaway silver market, and how long do you expect the present conditions to continue? The average world production of stiver between 1900 and 190 wss 177.000,000 ounces per year; from 1910 to 1913, Inproduction wae clusive, the average In 1914 the 225.000 000 ounces a year. production fell to 160,000.000; 17.000,000 TUBES . v n 1915, 162.000,000 In 1916; 187,000.000 In 178,000 000 In 191. and 190,000.000 1917; ounces In 1919, the year Just ended. That an average yield of 173,000.000 ounces. bout similar to that of the decades ending 190 and loo. The total amount for these six years is 1.037,000.000 ounces. "Supposing the average yearly output of 22S.000.ooo ounces, for four years of 1910 to 1913, to be the normal require ments, then we have here an Indicated to a shortage of 312.000,000 ounces close two years' output. This makes It fairly Besides from 1910 to 1919, Impressive. 10,000,000 ounces of silver in Inclusive, excess of total world production werh minted Into coin. "This wss only made possible by making silver bars front 20,000.000 dollars In the United States treasury. , Mexico did the same with 20.000,000 Mexican pesos, and probably of even more importance Is tha demand made by India and China for a settlement of sn adverse trade balance. It Is most lucky that, admitting tha disappearance of gold, these nations will accept sliver. "Europe and America, aa well, owe Their debts to India over 300,00(1,000. China are almost as big, around a total of 250, 000.000, payable In silver. Is It snv wonder that such a huge sum. cou the pled by a prevailing premium on crerupee, and the decline of the pound, ates such a universal headache after the European debauch? And last, but not least, what Is the amount of silver required to back up the unsecured ehtnplastera of Europe and America? Will 1,000,000.000 ounces suffice, J.OOO.Om.OOO of unsecured when some paper money were recently Issued? "What la now needed Is a mathematician who can figure how, with a present yearly sliver production of 190.000,000 ounces and a possible one of 280,000,000 ounces In the future, can satisfy 1300,000,000 a year, payable lit silver to Chins and India. 2 300,000,000 a year, for new silver coinage. 1 60,000,000 a year, to Industrial In Is The 3. T. Goodrich CMakers Rubber Company, Akron, Ohio the Silvewown Cord Tire of We Recommend FREE FROM NORMAL INCOME TAX TO YIELD, Cumulative Preferred Stock of the SPICER MANUFACTURINGS CORPORATION Dividends Payable Every Three Months 8 -- This company is known everywhere as the largest manufacturer of universal joints and propeller shafts for automobiles in the United States. . 1 Bul-jR- reason for gas The eighteenth annual report of the Tonopah Mining company of Nevada foe the year ending December 31, ISIS, ehowa the company to be In a flourishing con dittos financially, aa la evidenced from the, balance eheet, which ehowt that the total assete of the company amounted to distributed aa follows: .fl3.1euM, Blocks and bonds, 1.364.18. 74; loans and advances to subsidiary companies 100, 444.81 ; demand loans on collateral. ixtO; accounts receivable, o,49 34; me 4.433 1; absorption tertal and supplies, IU4.14; in mill, unexpired Insurance, 327 39. cash. 18.888 7. Liabilities are given as follows: Capl loans payable t,000,0u0i tsl stock, 41, esKJ.ftuO. accounts payable, retimated taxes payable, J33.661.66; In trass served for depreciation on bonds I1.3S1JI7.H. 143.021.19; ury, surplus from tha report of H. Excerpts Johnson, mins superintendent St Tonopah, show that operations were conducted through the Mispah, Silver Top and Hand Grass shafts, and that approximate' ly ISO tons of ore was shipped dally to the Belmont mill up to the time of the suspension of operations in August. The total tonnage shipped was 41,21, of an average value of tlt.74. which netted 4 10 per ton. Comparing the flret seven months of 11 with the year 11. tha direct mining costa wer 17 cents lower per ton for the period. Mr. Johnaos says that what appears to have been the most Important discos-erwas made In driving a crosscut south of ths hltzpah shaft on the 400 levrj In the footwall of the Mlspah vein, a body of milling ore thirty-eigfoet wide hav lng been exposed that has an average value of $17.3 per ton. The report covers the subsidiary-copanics, known as the Tonopah Nlca mgus company, sit hough no development was performed; the Handy Mining com pany, operating In Manitoba, but opera tlona were suspended In March. 191; the Tonopah Placers company, operating In Colorado. Where development waa prose cuted throughout the entire year; the Eden Mining company produced 36.1 tone of ore and the bullion produced therefrom amounted to about 445,349.76, 12.94 with an average value of about a ton. Ban Francisco Mining Stocks. Co. (As Reported hr 3. A, Bogle terests for years to 100,000 000 a year, eome. to validate paper issues. must be "What the price of necessarily silver? Just now there Is no Indication of a large Increase In supply. Ths fact that no sensational stiver discoveries were made during 1919 and the unjust Income tax on the miners would militate against an Increase. New silver dietrtets and revivals of old ones are Imperative. It Is Imperative also to release the shackles of Industry. Stiver, and silver only, can save the day. and the question Is squarely put up to capital and government. 'The opportunity for the former Is great. The duties of the latter are It le swiftly becoming useless greater. to further Ignore sliver as a money metal. The Orientals know and demand silver monev. The world owes them money: the trade balances have worked against It. Why should It be bad business for capital to mine silver In the United States nd send It to those peop'es who demand It. and inridentallv make Mg profits, or do we prefer to send gold, thus fully depleting our precious reserves? "It Is difficult to see why the price of silver should decline. It is still more dlfflc'ilt to ssr when. Economically speaking, the bullion price of silver will settle somewhere between ,1 50 to $1.7 per ounce, and a revision downward cannot be expected before 1940, If then, and maybe never. Evaporated Traits. ' vgvr Yore. Mrri aa. Eraemted Atilt aid shJi; apricots ia4 ptdm, l dull; raistM, . spelee, atlit; firm, To provide for the continued growth of the Company, tbia preferred stock is being offered the public. It may be redeemed, at the option of the company, at 110 and accrued dividend, on thirty days notice. . . i t The pet earnings for the past three, years have averaged six times the amount required to pay dividends on the preferred stock. Full particulars oa application. The Home Investment & Savings Company GLEN MILLER. President . (Oldest Investment bankers In Utah) 203-4--5 Walker Bank Building PAYMENTS wthlv mt fWS rVraSHw any Wool w PT ini mrftcvbn FfitC CHARLES C. VAN PIPER 40 ft wtor v , OIL DIGEST FREE TEXAS OIL SILVER war company has ell lasses In Texas. Colorado Oklahoma, and Wyoming. Homer Field, Louisiana, besides substantial assets In producing wells. Bend for bill Information and map of Burkburnett-EloctrTexas, fields without chargs, I X L OIL 4 REFINING CO. 46 Dsnham Bldg. Denver, Cole. a, and Gives valuable Information about oU and mining companies. Tells where you can buy and sell mining and oil stock. Quotes C. W. Havery, Publisher. 90 prices. Denham Bldg, Denter, Colo. Ad.) Pacific Chemical Laboratories Montgomery St., San Francisco, Cal, rhosphate. Fertiliser and Saline Experts. and Technical Analysis, Consultation Reports of mines, factories and waters, developments of processes. Many year (Adv ) experience. Writ us today1, r 741 |