| OCR Text |
Show THE SALT LAKE TRIBUNE, SUNDAY MORNING, MARCH 28, 1920. iuc4 nian(r will Charle H. Stewart. Who ha for the two year, and who hue bran named paet aa deputy governor of the bank In aalatnt ban Francisco. Mr. Mewart will remain In bait Lake for been another month going over the local altua-Ho- n with Mr. Motherwell. Mr. lay aald yeeterdny that he haa round the aftali of the bait lake branch In moat exrellent and paid a tribute to hat he condition, termed "the excellent organisation" which haa been under Mr. Btewarf direction. e e Stocks Weaken. 8ugar Reserve Day, Probably the moat notable movement 10 Intel Induatrlal aha re a during the paet week haa barn the re ce a ion In price of Cheap- the auger etorke, according to Ldwerd I rturtmi, who epeclullx.e )u three laeoea Mr. Iturton aald that the Commodities. decline in a number of f'tah aloe apparent ka haa been due to the fact that they are now quoted minue .con,lIS quarterly dividend, peyable April i. AdConclusion Based The trading In local taeiiea tact week waa largely limited to Ulsh-ldahand Amalgamated Sugar atocke. He added that Inthe preaent money stringency has called out a number of shares of the more scare bank atocka which are seldom daalt In Th Increaae of $VW 000 In th capital lock of the Z. O, M I, which was au thorlaed at a recent director' meeting, will be subscribed early thl week, WUilarn A. Day, deputy governor of the to Mr Burton. Th Imreaaed ' federal reserve bank, returned jeeterdey already been largely P'l,1!lon Skhecrlbed, to Mr. Burton. according from a brief trip to Pocatello for s survey a e a of financial and agricultural condition Brokers Teel Stringency. In th Gem etal. On of the larger brokers of th city "Th atate," h aald, "appear to b In said yesterday that not even during the satisfactory condition. There will prob- war period was It so difficult to get money for be a ably larger acreage of fall grain He speculation purposes as It Is today. quoted the case of a cuetomer who thla year than for tome time past, and offered as as 10 per cent for a loan there bae been plenty of motet ur and with which high he wished to purchase stock, the farmer there are moat sanguine aa only to be told that he couldn't have th te th general outlook for a good year. money for speculation. a a a Regarding general conditions, Mr. Day Mak Eerenu Meet Expenditure. said that on hlg recent eastern trip he The following quotation from an address found th larger financial interests exby McKenna, rhatrman of th pecting th turn downward in commodity JointReginald City and Midland Bank of London, price for two principal reasons These England, formerly chancellor of th exIs regarded aa having quit as first, th unfavorable rat of for- chequer, much application to American as to Brit eign exchange, which mean that expor- Ish conditions. Mr. McKenna aald In hi tation on th large scale of recent years summary of an address on th high cost cannot long continue, secondly, the grow- of living: ing volume ef import from other countries I having Its effect In bringing pres- be Th only condition on which w shall able to check th rise in prices is that sure to bear on th domeitla markets. our annual expenditure la brought within th compass of our revenue. In state ss In Dairy Imports Heavy. domestto finance, w must learn to make Mr. Day mentioned both end meet, and the esse la not in th th pari'ularly heavy import from Denmark of dairy least bettered If w only balance our ae and similar products. counts Many shipments, by selling our capital stack and he said, which wer sent from Boston placing th proci credit of our to foreign markets on consignment are revenu account. The expenditure ef th government Is being reshipped to this country, because fh seller cannot mak a profit abroad tantamount to th consumption of thW at th current rate of exchange. There of commodities which th money would buy, and this must not sxesed th has bean, alao, th accumulation of large quantity belancea by foreign Interests which can- smount of th commodities th consumpnot convert thee into I'nlted State tion of which th community Is compelled funds. This. Mr. Day said, has led to the to deny themselves who by reason of th buvlng of much English merchandise for taxes they have to pay. If tt does w run th In and as this home sale a Indeed now Is th fact, that risk, shipment orcountry. a These, aald Mgr- - Day, are among th our consumption may exceed our pro principal factors which lead to tne rather duetkm. old "Thl is not a plea for additional taxa general belief that there will he a turn In prices. tlon. Far from It. But It Is a plea for How great or how sever this turn may prov to b he declined economy In expenditure. It It a plea for to even eatlmate, saying that there are such a ruthless cutting down or posthome was one of uncertainties In the present' situation ponement of all financial ago outlay by the state as will reduce our expenditure which no tnan can accurately gauge. to a who also Buildfigure lees than our tax reveque, for by this method alone can w hope to restrict Textiles Hesitant. is th issue of currency, check th rise In ing. possteel, he aald. will probably be th laat restore our foreign exchange, and Commodity to show a decline, because of prices, is who London In $2000 old her position th great forward orders which th pro- e the financial center and free gold marducers ar now holding to meet the tre- ket of th world." $3000 mendous building requirements of the y Textiles already feel a country. Twenty-Sevand th sellers report that buyers Discus of Liberty Bondi. ar showing much mors discrimination 7 enth WASHINGTON, March Senators of than haa been tha case In recent months who arefi have been giving close study to th . Th investment market has shown a question one restoring tha value of libold beaugreatly Increasing demand for Liberty erty bondsof to that par confessed bonds, according to Mr. Day, Who says were "stumped." Every today shade solution so that .tbea government securities have they been absorbed by Investors in great quan- far presented seems to have serious detities. There la everything to Indicate, fects, they declared, and unless some new The house contains fourteen rooms, a full basement and aeveral he said, that there Is a continual buvlng and better plan can he devised it aplarge on a large scale which will probably hold pears toto them that Liberty bonds will It ia constructed of gray sandstone. With slight remodeling and porches. have below ordl-oastay par until th th market for the bonds steady. laws of finance com to thelf landscape gardening, this entire property can be made into an exceptionally He pointed out the desirability of the bonds for investment purposes, calling at- cueSenator fine home. It is just across the street from the new Wandamere Golf Links, Smoot xf Vtah, recognized t tention to the favorable returns which one of the leading financial authorities which will be Salt Lakes most popular recreation center within the next they bring at th present market 'prices. in congress, declared that no plan yet Mr. Day is responsible for the suggesfew months. would the H situation. kelp proposed tion to a number of the larger I'lah cor- said i that the United Blates government and banks that dividends to poration might eaeily restore tha bonds to par, stockholders b paid with these governWe have been authorized to sell this property at a big sacrifice. so to but do The would furto lead certainly ment securities, hi order to relieve the Inflation of th currency, owners are willing to dispose of it for less than half of its original cost. corporations of securities for assets and ther a "The hole la that tb dedifficulty to. give the banks greater g for money ha leaned ahead of the facilities from th money released from mand After you have seen this property and carefully investigated its wonInterest on th bonds,1' said Senator their bond holdings. Many eastern cor- Smoot. "If w restore the bonds to par, derful porations and banka have adopted thla th possibilities, you will agree with us that it is one of the greatest currency will become further Inplan, according to Mr. Day. flated and In the end the public will pay ever offered in Utah. bargains a a the bill over and over again. Successor Coming. Stewart "Th biggest buyer of bonds in the R. B. Motherwell, assistant chief ex-- e market today Is the United States gov. Come once miner of the federal reserve bank of ernment. which, under the law, g reban Francisco, la expertod to arrive In quired to retire the national Indebtedness rate of at the a cent Salt Lake today, preparing to take over 6SS. Itt per Call year. Bo, In hie new duties as manager of the Balt an Indirect manner, th general public Lake branch of th bank. Mr. Motherwell Is benefiting to a certain extent by the low prices of bonds. In that th government la able to retire the Indebtedness cheaper. ' th Of course, I would like to bonds at par and above. The government 34 MAIN ST LAND GALT LAJtJ will eventually redeem them at par and people who hold them certainly will get their money back with Interest. Senator Pomerene of Ohio, a prominent Democratic member of the banking and . currency committee, saw no prospect of a solution to the problem. "All over the country targe concern with Inspiration subscribed for have to be patient and wait until the supIn Salt lake county, on pared bonds than thay could really carry, more patriotic tent, la addlttoa te $1 regular quarterly rate, aid Senator Pomerene. "Now the war ply falls off and the demand gets Internet on loans by t'nltad Stair to allies road te E Ingham; must sell tha over demand and is for money grows atrorger. may ho deferred for three year.. $40 per acre. Subject te adconcerns Theae find Sterling that stronger. exchange violent rise due to prepathey vance after April 10. rations to ship gold to I nited State. could take the montv on which they ase Scowcroft Increases Capital. Pullman 4 4V4 and cent company sett big auto body nrdew interest and per drawing GOLDEN WEST REALTY lb. ntoek txchaage will b cloned Good Friput It Into their business and reap profit S peels I t Tb Tribune. - . COMPANY day, I April of t or 10 per cent. Th result is that OGDEN, March 27 The great expanMexico will begin paying national debt, Wat. 6418, 837 Atlas Blk. the bonds ar being thrown upon the sion of ono of Ogdena oldest wholesale hick wan Mopped la 1U14 by Huerta, market In larger quantities than they can Institutions waa shown today by the acIn b absorbed. my opinion, well just tion of the stockholders of John Scow-croA Bon company In approving the action of the board of directors In voting to Increase the capital atock from $1,000,-00- 0 to $2,600,000. The action wax taken aa a necessity to ear for the general ex Ana-jeond- a NEWT TORK, March 27, British expension of the business and making preparation for the addition of manufacturing change continued to show strength toand packing plant for various kinds of demand sterling opening at $34li. day, Mine wearing apparel aid food product. ah advance of tf a cent from Tho officers of the company at the of a yesterday' close and cent below the highest quotation yestermeeting today, in addition to th atock. Local holder, with every share of stock repreday. sented were: Joseph Scowcroft. president Marks were a shade higher at 1.3$ and general manager; Heber Scowcroft cents each, but French and Italian eg. vice president and assistant general manlower. Franc change opened slightly All th varied processes of the Anaager; Wlllaid Bcowcroft secretary and checks were at th rate of 14 32 conda Mining company ar depicted In the to the dollar, quoted treasurer. lire checks at 18.87 and Ca"Safety First films which will be shown nadian dollar at 21 85 cento. at th Strand theater in Salt Lake toLocal Industrial and Bank Stocks. Standard Oil Stocks. morrow afternoon and evening under th (Quotations by Edvard L. Barton.) (A. Reported by J. A. Hoyle A P 1 auspice of th Utah Industrial commission and the Utah chapter, American Mining People ftuf., pM. with common, Wtftt Ctch Sugar.. congress. Th film consist of 8000 feet SprinfrUiF-MapMSugar . . of views, showing all surface and underAmalgamated Sugar, eon moo. ground operations at Butte. Anaconda and UUreat Falls, Including mining, milling, Iteatiftfttfl Llfo smelting and refining of copper and tine. Colombia Iruat Co The underground views were obtained Co Wagon A ftlacltiai Co CmtiiNBUl Natl lUak,.,,,, through special Installation of cluster of arc Nail Bank Prwrrt lamps, and the enterprise represents L,., E. 8. Winward John Murray J. D. Evans' an expenditure of mai. rtoaarat Savings Bunk ........ tnousauda of Flrat Natl Bank of Ogda dollars bv the Anaconda company. Flrat Natl Bank of korrir... T. E. Gaddis, Manager The film are furnished without charge HHr J . tiraot A Co. ......... by the Anaconda company for exhiblt'on iBtermoaatam Llfo 1m here to aid In mine safety work. The Inland Crvotal Halt, pfd of local presentation haa been expense a Bonk. Prora Knight Tr A guaranteed by the Utah chapter An adloTtoo Ittfir Co mission of 5 cents will he charged, all fee MrComkk A receipts In excess of actual expenses to be fa donated for mine safety work In Utah. Mm Btatoo Tel A Tel Co.... The pteturea will be shown, in connection Figure tell the itory and in th cue of th Bettllyon Homo Nation I Illy Bank one a Sale tell a Builder City with for, Department they graphic comedy film continuously front National (opff Book noon until 11 p m. tomorrow. It Is exwith a total of $31,489 in comnuMlona earned In 1919, tkig Stafa Bank . Ogdo local mining men especially Com I A v that pected Prata sold a of Baak...... haa million dollars department take will ........... this Httgtf llnaklaf to. opportunity to obtains comworth of Salt Lake City homes. I talijTlr prehensive understanding of the ex ten-s- i' Uy... e operations of th great Montana minCtok Power A Light. pfd an And the prospects for 1920 already Indicate important Utah Homo Ftro loo. .......... ing organisation. C tab Idaho Piiftr Increase In the business of this department. W. A. Federal Governor, Predicts er on verse Exchange and creasing Imports. o ar, Across the Street From Wandamere Golf Links Untie Coition heel-tanc- r. credit-lendin- ih or phone at Wasatch Kimball & Richards r MERCHANTS" FOR SALE 5 ACRES CHOICE LAND TO BE EXHIBITED Varied Activities of to Bo Shown Theater. at j BRITISH EXCHANGE CONTINUES STRONG three-fourt- o City Sales Department f.., HHtor-Caboo- a three-quarte- . Wo handle homos for everybody not only our own erties, but we give special attention to outside listings. ......... prop- BETY1LYOPJ HOME BUILDERS 370 South Main Street. Utah Ntato Natl Bank. . f tali Baring A Tnt. Walk Bfo Bankara W&i&tch 4840. Kino Kao A O Tr k i tt I ( new dlT stock). ... ' MINNEAPOLIS, . March Cbanfad. Barley, li.Mfel 54. By Bran, Corn. Outs, rial, l.t 72'. No 2 $4 00 91 6ftrl 2 54. 4.77fc4 82 Tb 'Tribun Want Ads supply Sp.tqMs girt this time for you. Balls and Industrials. (As Reported hr J A Hogle A Cel Tweaty laditstH.I. KKl , ip 21 Twenty nil. 77 SO, up C.lnmet A Arlann. earueit 1 este a share la ! M la mi loliul Wormy I rail, rert Mr th.! whll. (rawmor. notleeahio during ing coc.err.ti.fl. to.t week than at aay preriou lime aiaca first of year. It ha. not al.rkrd b.itiem Pus report. IAS failure, la mate, thl. week, afaltut 124 lut work .nd 1.H la.t year. Rriitali .hipping $2 (M0 On gold to I'nlted ' t Incorporated Under the laws of the State of Utah Capitalization 1,000,000 Shares The Tlatle Coalition Mines company property consists of fourteen full claims, aggregating approximately 300 acres. t On this property a shaft has been sunk in ore from which has been shipped lead Uver ort which would amouut to over $100,000.00 at present metal . prices. The following report by A. P. Mayberry, a Salt Lake engineer whose connection with the li. 8. Smelting company hai made hie name a synonyga lor accurate judg.ng of mining properties, should be read with interest; Mr. Frank Thornburg, President and General Manager Tintie Coalition Mines Co., bolt Lake City, Vtah. I have made aa examination of the Tintie Coalition Mines companys property and respectfully submit the following findings: The property herein under consideration is situated in the south end of Tintie mining district, three and one-hal- f (JlA) mile south of Silver City and two (2) miles easterly from the main line of the bait Lake Route. The surface area consist of fourteen (14) unpatented mining claims, so located a to cover apex righto and preclude apex litigation. 150-foo- -- GEOLOGY NOTICE TO CONTRACTORS. Notice la hereby gl'ert thet sealed profor the flnlahlng hardware. posal te, tnld required foe the new halt Lake county South mflrmary, located on Twenty-firs- t street, near State street. Salt Lake City. I tah. will be received at the office of State. Thirty five mlllloa dollar In gold at Ottawa the board of county commissioners, room 2n citv and county building. Salt Lke reported ready foe alupaieot to I oiled State, torn Products dat larva extra dividend of 60 Cfly, .Utah, und 11 o clock a. m., April , i The formation is Wholly composed of porphyry snd represents many of its This formation, lh part, ia bounded os tha west by quartzite, aa ia the limestone lormation further north in the mam part of Tintie diatnct vein ayatem. Two fissure vein ayatem are clearly exposed on the aurfaee, one north and south, th other east and- - weat. There are three north south fissure veins having t fisan easterly dip, which varies from 40 degrees to 80 degrees. Two sure veins are also quite strong and prominent, one of them being the old Busan r ore has been mined. The veins vary vein, from which considerable in thickness from live to twelve feet, and, being in a porphyry formation, cannot be other than fissures. different characteristics. east-wes- lead-silve- MINERALIZATION The ere occurrence aeems to be in chutes snd irregular bunches, and com- mercial ore haa been mined and shipped having a gross value, 1 am reliably informed, of more than $40,000, on or near the surface from the shallow development. There ia one auestion yet to be solved regarding the ore deposition in this part of the district, end tqat is,. does the mineralization go to the deepf I bebevt it doea. This conclusion is based on conditions found in the deepest workings and the condition found farther north in the same formation, where water uas been encountered at about three hundred (300) feet, and sulphide r or going to the level on this property should be about six hundred (600) leet below the tunnel level, owing to greater eleiatiou of the property than water level 'proved further qorth. - DEVELOPMENT deep-wnte- On the surface there ere several shallow shafts of various depths from ten te one hundred fifty (150) feet, and the vein matter surrounding these openings is, in nearly every instance, highly mineralized. The mam working tunnel, which has been driven into the mountain in a southeasterly direction nineteen hundred (1&00) feet, has cut one of the fissures, which shows a thickness of twelve (12) feet of vein matter, through which there are streaks and bunches of ore. An average sample of this ore exposure gave the following (10) results:. 16 per cent lead, 13 per cent zinc, 9 ounces silver, trace gold. x , conclusion 1 have no hesitation in stating that your tunnel has just reached a point where ere of commercial value and quantity should be encountered, by extending the present face to the intersection of the north south with east-wefissures, and n chance to find intermediate chutes of commercial ore between the fissure intersections In st lours respectfully, A. P. MAYBERRY. The difficulties ef shipping ore from the shaft located on the top of tho mountain were such that it was deeidedto drive a tunnel to cut the ore at a depth of six hundred (600) feet, and this tunnel is now within approximately two hundred (200) feet of the shaft from which the first ore was mined, and it ia only a question of running the tunnel this distance to cut the proven ore body. - Driving the tunnel a further distance of 200 feet will cut the intersection of the two main fissurea on the property, with the probability of opening up immense ore bodies ef ore, in addition to the known body mined from the shaft Mr. Thornburg is a mining man of Salt Lake and Eureka, who hai a reputation for doing th' I am offerin ig A small block of thie stock, for the purpose of completing tho tunnel, at 12V4 cents a share, and recommend it to my clients. For full ia formation write or call on me. well-know- Phone Wasatch 2253-225- 4. C. S. GODDARD , ' Atlas Block, Salt Lake City, Utah Apartment House For Sale northeast bench, out of the smoke, on a paved street, close have listed for sale one of the finest apartment houses in the city. Each apartment has four rooms, strictly modern; the entire finish oak and ivory enamel, with all quarter-sawein A-- l quarter-saweoak floors, buffet kitchens with gas ranges, very fine tile bathrooms, llolmes disappearing beds; U decorations are of the very best and of latest design. .The apartments are so constructed that there is not a single inside room. AU rooms have large outside windows. Each apartment has front sad back porches, full cement basements; steam heat, with ample boiler and radiator capacity; private lockers lor each apartment; also modern janitor's apartment. We will consider a few small bungalows or irrigated farms in trade. Make us aa offer. Details furnished to responsible parties. On- - tho in, w d d ED. D. SMITH & SONS 38 WEST 2ND SOUTH ST. n Company FRANK THORNBURG, President and Treasurer For the man wants a REAL BARGAIN and who'needa in the city with ample grounds, large family large chard and ideal surroundings, this beautiful dwelling offers a remarkable opportunity. This Utahs designed several jears by State the leading architects, designed Capitol It imposing in its architecture and offers unusual sibilities to any person to willing to expend from in repairs and remodeling. Located on the southeast corner Seventh East and this has an two hundred by South, property hundred and ninety feet, including a fine orchard, tiful hedge and trees. tiles PHONE WASATCH 1$, 1830. when proposals received will be publicly opt ned Instruction to bidder together with form of contract plan. b obtained at the office and bond, A Burton, architect. $28 S of Bop , 1824, on debuilding, March 00. $30 of port! The board of county commissioner ha and reeerte th right to any or all bide, or to accept any bid whuh ny New-houM- rict 453. th board deems best and waive iris r defect Bv order of tb board ef county commissioner of Salt Lake onriiy, aisle of u LUlu th Itth dav of y .r. h. - hllLLMAV Chairman Board of lounty lummiv loners. J E CLARK Attest, lb t Loamy ui k F. r- kiU |
