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Show THE SALT LAKE TRIBUNE, SUNDAY MORNING, JUNE 27, 1920. Counsel for American Min- ing Congress Cites Vital Statistics in Recent Talk. Price at Which Govern- ment Sells Gold, $20.67, Is Less Than Its Cost. "N The Imperative need of strengthening the financial etructure of the United States by encouraging the production of gold, seas pointed out In the following address made reoently by Oeorge H. Bailey, counsel for the American Mining congress. before the New Tork 8tate bankers: The best students of International trade are of the opinion that gold must bo allowed to flow Into the avenues of international trade In order to create healthy financial and trade conditions of Itself, throughout the world. This, would seem but natural and highly deserious a question sirable, but It raises which must be given careful consideration. The matter Is complicated by our own such an excurrency being expanded to tent that the gold volume Is necessary to maintain the legal reserve required by law to support our currency structure. A gold dollar In the vaults of the federal reserve bank eerves as the basis of deof ,50, and these deposits posit liabilities to the credit of a member bank may serve a Credit by that bank of from seven and a half to fourteen times that amount, or from 19 to 36. In this connection the of the country haa largely Kid reserve placed in the vaults of the federal reserve bank, wbere It is already In use to sustain the currency In circulation. Between May 1, 1919, and May 1, 1119, the loss to the monetary gold stock 446,000.000. This In the United States-wa- s lota wee occasioned by excess exportaIn of the gold tion and the consumption manufactures and the arts greater than the amount of metal produced from our mlnee palgn of credit restriction. In the United States the producers of gold have had to compete with the demand for labor In copper and silver mines and In other industries, and pay the high prices prevailing for all of the supplies required In the mining operations, and they have been unable to realize any more than the fixed price for gold $20.67 a fine ounce. They have had no compensation fos the rising coats, and as operations have become, to a great extent, unprofitable, production Is falling rapidly. The nation's power to produce gold is now menaced, and unless economic relief Is afforded, the Industry will completely shut down. Federal Price Below Cost. "The government Is selling gold without limitation for Industrial consumption at the prewar prloe of 20.67 an ounce, which Is lest than the cost of production. The average wholesale price of all commoditise for the year 1919 was 113 per cent greater than for the year 1914. Had the price of gold been regulated by the law of supply and demand. It would have at least Increased In price with the general average of all commodities In tbs United States. The gold producers would have received for their 1919 output which was sold to the Industrial consumers for 58,500,000, an Increase of 112 per cent, or an additional amount of 65.000.000. To this extent the Industrial consumers of gold profited at the expense of the pro. ducers of gold. As compared to 1914, the purchasing power of the dollar. In terms of all commodities In 1919, was 47 cents. The gold producer's ounce in 1914 had a purchasing power of 20.67, whereas during 1919 the same ounce eould purchase, in terms of all Commodities, but 9.70. The gold producer Is In the same position as a person who received the same income in 1919 as In 1914, and that a 2000 Income has shrunken In purchasing power to 970. This 1 the most Important reason why the gold production In the United States has declined so rapidly. Had this bill been In effect during 1919 It Is estimated that the revenue. In favor of the treasury department and In excess of the expenditures provided under this act, would have amounted to 14.000, wo. The tax provided for In the bill on the consumers of Industrial gold does not fall upon the public. It Is estimated that the premium authorized In the bill will. In a- relatively zhort period, cause an Increase In the production of gold, at least sufficient to upply the demand' for Industrial use, and prevent the further depletion of the monetary gold service to this extent" - - Industry Needs Aid. RAILS AND INDUSTRIALS. Twenty fnda.tri.I., 90 95, up .07. "A healthy gold mining Industry should Twenty railroad., 70,84. up .87. be reestablished, which la only possible Foreign exchange, Inactive, with tterling by freeing the gold producers from the Praucn, 12.10 per economic stress now pressing on that In- dollar:at 1.9614 for demand. Antwerp checha, 11.50 per dollar. It Is Important that the gold dustry. London During the week ending June 28 alive for be fear Oreat Britain kept mining Industry to United Staten gold thet with the greatly reduced production mounting to ntxshipped million dollars; Imports for there will be difficulty In retaining the week approximated eight mtlllon dollars. gold standard during the coming cam- company have received on Mauretania 18.800,000 In gold. There In as additional cion-la- g Kuha-Ioe- Buyfer IOptions er German Mark Issued i months on b $600,000 consigned to other henkera. Steamship Mauretania arrived this morning with big gold shipment. Torn products declared half per cent extra dividend on common stock, same aa lgat dividend, beelden regular 1 per cent and IK par , on preferred. Dun's reports 118 failures In United Statea this week, agalnat 152 laat week and 123 year ago. Western Pacific corporation declared s dividend of m per cent on preferred stock, pay-ablJuly 12 to stock of record July 2. Since 1919 quarterly dividends hive been 1 per cent. French Franc Italian Lira The currency of theoe countries la now at the fewest price In hletery. Thte la a wenderful eppertumty fer big profits. NO MARGIN TO RUT UR In ease of decline. Option protects yeu fer Its entire period. pAO Buys Option on 10,000 el 00 Buys Optlen en 20,000 200 Buy Option on 80,000 180 Bure Optlen en 100,000 Oar men Mark Ivory ad venae selfofled1e Inabove pur. ohaee price op eptlon en Rrenoe er Lire 100,000 Marks, mease a profit ef 1000. Larger er smeller eptlena preperttenetply. Wo would net be surprised to see them edvaneo to above the option during the next few pries would purchase wh4eh moon piwflt (nenttie, of 8000 on 100,000 Merfca, Fronoe Lire. or MAIL REMITTANCE FOR THE BIZI OF OPTION YOU OEIRS. Issued, Only a limited number therefore act Immediately, Full Particulars en RegueaL Art for Circular STANDARD OIL STOCKS. J. A. Hogle A Co.) (An Reported by iV $ Bourse Security Co. Forwtgn Benda . Foreign Exchange HARRI TRUBT BLDQ, ILL. CHICAGO, !JZ MTORNIGt & COL BANKERS i St ESTABLISHED 1873 1.000 ISrt 1920 OUR longourexperience intimate knowledge of the people and our thorough understanding of their needs enable us to serve them efficiently in all financial matters, Resources, $14,000,000' MEMBER. FEDERAL. RESERVE SYSTEM s .... OH Arixona-Wyoraln- Atlas Crude Big Five Big Bear 7.000 Bear River O D Week End, Session Dullest in Many Years; Some 'irst Twenty Stamp Unit of Specialties and Rails Close Strong; Total Sales 130,000 Shares. Goldfield Development Trading on the took exchange was dull to the point of The total dealing of about ztagnatton. 130,009' zharea were almost the smallest, even for a week-en- d aesalon, in many NEW TORK, June Co. Put Into Operation. NEW YORK STOCK LIST. 26. 03 02 Except among the usual speculative favorites, fluctuations held within the most contracted limits. A few specialties and to Investment rails Imparted a firm strong tone at the close. was oil a par with Trading In bonds the stagnation In the slock market. The h 6s, only feature was the which rose to within the smallest fraction of par. Total sales of bonds, par 4,776,000. In the old value, aggregated United btates bonds an advance of was made by 'the 4s on per cent call during the week. The clearing house statement was Inof last week's teresting for Its recovery reserves, an actual deficit of that period being replaced by an Increase of,sitgnlly I more than 28,000,000. Other noteworthy changes In the bsnk statement Included a gain of about In reserves of the members of the federal reserve bank and a decrease of 60,000,000 In demand In approximately net deposits. Weekly surveys of business conditions by the mercantile agencies confirmed general advices of a further .let down In many lines of trade, duo In part to political and crop uncertainties ana In larger measure to freight congestion arising from labor disturbances. Anglo-Frenc- one-quart-er 100 600 1.000 Burkburnett Jr B8ton-Wyomln- Bid ........... .70 Lance Creek Royalty 24 .03 ........... .............. 1.000 Lance Creek Ref 5.000 Lincoln Idaho 10,000 Lone Star .12 00)4 .10 .14 1.000 Lusk Petroleum 600 Lusk Royalty 5.000 Mascot Oil (Utah) 1.000 Mike Henry 6,900 Montana Wyoming .04 .05 ........... Big Indian g 20 Buck Creek Oil BOO Bradley Oil 63 Burke Oil 400 Bull Bayou 6i0 Burktey Oil 1.000 Capital Pet 600 Con Royalty 8,006 Congressional OH 600 Cow Gulch 600 Columbine .. 1.000 Crown OH 10.000 Cushing Garber 8.000 Diamond OH 1.600 Dixie 2.000 Klk Basin United Oil 800 Klkhom 10.000 Kmbar Oil Co .... 500 Fargo Oil (new) 60 Glenroek 1.000 Great Western Pet 2.000 Globe Crude OH 2.000 Great Divide 6.000 Gustaveson OH 1.000 Gates Oil 2.000 Hecla Wyoming 6.000 Hoffmsn Oil A Ref 8.000 Hub Wyoming 6.000 Hutton Lake Oil A Gaa .... 5.000 Invader O R (Texas) ...... 8.000 I X L Oil A Ref t i i ; 01 18 ......... 200 MountainL Gulf 8.000 Midway ............. 1.000 Oqulrrh O D 3.000 Ogden Petroleum .......... 1.000 Oil A 45 95 65 78 06 6.000 Out West Pet 1.000 Ozark O R 5.000 Pet Oil Fields 1.500 Prudential 800 Riverton OH A Ref 1.000 Rocky Mountain Ref 1.000 Royalty A Producers OAR 1.40 .O6X4 86 .01 .25 .10 Gaa Ogdan .85 1.25 .02)4 i. 84 03)4 A3 .'.01 .06 .08 ........ ...... Bid GOLDFIELD, Nov., June .28 33 ......1 a yqar Of preparation the first twenty-st200 33 ......Market oyal Duke unit of the Goldfield Develop22 1.000 .16 nset . bu , ment mill haa gone Into commission. An.10 .03 1.000 Tom Bell Roy unit will be operatother twenty-stam- p 10 0044 Texas Eagle ..........1100 t ed before the end of July and before the 04 1.000 Texaa Crude Bid end of the present year the work of In03 O F .... .19 A 6.000 Texas Gulf Coast its from of the plant creasing capacity 14 3.500 .06 Pet present louu tons per day to U"'U tons 02 05 O R 2.500 daily is scheduled to be well under way. .99 45 2.000 Uintah O A E The Initial run of the fust unit was O O 2.76 A 5.000 Union Offer e ore from the Red made on .07 .10 2.000 United Petroleum Top, but the stamps are now falling on .11 02 Con 1.000 ore sampling 15 to 2. per ton from the 04 Con Oil 5.000 Utah .06)4 Ooldfteid Development and trackerjaek .n .. Dome 1.000 OH Is .03)4 Virgin of the As the mines. plant capacity 1.35 1.000 Wasatch O A G will , .03.,, gradually developed the bulk of oreCom.13 5.000 0044 Wasatch s OAR be drawn from the Development 3.000 Weatcrq Plains 03)4 bination, Red Top and Mohawk mines, Si OH 00 Fields Western for the .01)4 with custom product treated .02 6.000 Wind River Prod A Ref .... .05 : Crackerjack, Silver Pick, Florence, Gold.08 1.000 Wyoming Peerless ..OJ field Deep Mines and Red Hills Florence .03-- . .41 2.500 Wyoming Apex companies. 8.000 Oil Con Bid 1 1.000 Bid mills the of Wyoming operations st Resumption' .03 04 Jewel Oil , 8.000 Wyoming Range after an idleness of approximately three 2.000 300 Jupiter . .10 04 1.000 Wyomlng-Texa- s .. revival years marks the 1.000 Kinney Oil 500 Y Oil A Gaa .43 of Goldfield. Vast reserves of ore too to ship to smelters are availMINING , Bs .10-able 'for mining In the properties of the 1.000 American Leasing 800 Lynn Big Six 25 Goldfield Development alone, it is said, 1.000 American Con Mines B.ooo Lodato M . .20 93 more than 2,500.060 tons of profitable ore .03 5.000 IOgger 02 are exposed Receyt work lri the Silver 8.000 Alta Divide 5.000 Milford Magnolia ....03 0 Pick lease on the Mohawk has opened 02 ,000 Alta Superior ... . ,.13 1.000 Montana Bingham 500 Apex Standard huge ledges of profitable ore in terri.03)4 ....Market 1.000 Nevada Zinc . Bid .04 tory previously supposed barren, and the 5.000 Bellerophon 1,800 Providence Mining Goldfield Development Is preparing to 1.000 Big Indian Copper .36 . 800 Pinion Queen j, , n actively prospect sections of the famous 1.000 Bingham Black Diamond ...Offer U3 3.000 (.... old Jumbo, believed to contain extensions 6.000 Bingham Tooele .. .02 2.000 Rye Patch ... of tha veins which formely jielded Do600 Capital Mining . .10 .04 1.000 Selma ns nsa ore. 1.000 Cotton wood. Grand Central. , .03 20.000 South Antelope .Oft) More than twenty subleases have been 1,747 Central Standard; .07 Bid 1.000 Sunset Mining 600 Conklins Mining granted on Its holdings by the Goldfield .10 .12 3.000 Tintlo Coalition 1.000 Copper Leaf Development, and already several prom38 .07 t 2.700 Tlntie Empire 6.000 East Standard ising ora discoveries are reported. Moat .96 .07 3.700 Tintlo Empire of this work Is proceeding on the Mo6.000 Etta May 6 .03 1.000 Three King hawk, Red Top and Combination mines. 1,009 Eureka Standard 38 .06 t Union Tlntie 3,509 The company Is also developing high-gra2.000 Glen Allen M 13 .15 . L000 Tunnel Hollow ora in Its lease on the Florence 6.000 Gold Springs M 05 .12 -1,300 Tintlo Mill lease mine. Including the famous Kelley 3.000 Golden Relief .10 Bid 9.000 Tintlo Zenith $ 1.600 Grater Con M workings. .04 8.000 Ttittlc Paymaster , .16 are being rapidly com1.000 Iowa Copper 08 Preparations Goldfield .11 Hill 3.000 Treasure Deep Mines com1.000 Imperial Lead pleted by the 11 Bid 1.000 Union Leasing vertical pany for sinking of the 1.000 Independence Silver-Lea.10 v d Bid 4,500 Utah Mining shaft on the Blue Bell section of Its hold 100 Jib Mining Co 56 2.00 ,000 Vlpont M Goldof the The .massive Bld-n- . lugs. 2.000 Loutse Mining equipment 11 250 Wedge Mining field Merger and Atlanta la to be moved 04 6.000 Little May Bid 2.600 White Star M to the site of the new shaft, and & geoINDUSTRIAL logical map haa been completed by Cor-ri- n 100 Abraham 600 A 15.00 Water Old Capita P F JS"" I Barnes, the companys geologist, to 1.000 Associated 25 60 Ogden Packing A Prov ....30.00 ' Pharmacists guide the work. The Goldfield ConsoliBOO Perfection .04 Tire A Rubber. .Marke dated Florence ore body Is believed to 5.000 Baker Steam Motor T.25 10 Beet Growers' Sugsr Bid 1.000 Progress P Co course through the Blue Bull at great 160 Bettllyon Home Builders ... .75 20 Peoples Sugar 5.64 depth and the shaft la designed to open Bonnevlll.-on-the-H35 75.04 K 25 Plngree Sugar , ... Bid the ore body In the underlying alasklte, 16 Con Music Co 4 25 64 Pan Motor Bid where many geologists believe the 'source 600 Chrlstls Auto Lock .36 Bid Stock Tarda of enrichment of the marvelous bonansas 1I8LU .03 02 1,004 Summit Fhiet found In the daclte, andesite, latite and 3.500 Elevator Safety First 2.000 70 25 A 00 Red General Cham A Loan Trust State shale will be located. 100 Gunnison Valley Sugar ,101.000 Twin Screw Pump 'Bid Arrangements have been perfected for 25 9.00 r 100 101.64 Indicator Sugar Co exchange of stock by Goldfield Merger 10,000 Hooper .YI.40"--' .25 I Utah Cereal Food Co Atlanta, C. O. D., Blue Hull, Goldfield 6.000 Ioka Manufacturing 02 Iron County Coal 100 Utah-Idah- o Co .....Market Combination and Mllltown Mining share Asphalt 2.500 John T Clark Tire 104 Utah Asphalt Co Bid Market holders for Goldfield Deep Mines shares. 100 L. J. Leiahman Ce 64 Utah Hydro Carbon Co Bid .17.50 The latter company haa a working fund 600 Mere 1.75 20 100 Utah-Idah- o of 150,000 and, with the splendid equipSugar ' 10 Natl 54 104 Victor Motor A Clutch Bid ment of the merged companies available . City Bank for use, the cost of sinking the shaft am WILL BUY (6UBJECTI ALL OR FART) lateral work will be much lower than 100 Abraham Water Offer 30.00 1.000 Louise Mining a,,,-,,,-.., usual. The merger has been approved by 1.000 Associated Pharmacists 24 . Offer. 19,000 Llncoln-ldah- o other and promimany George Wingfield 5.000 American Oil 1.000 Monetatre . . Offer nent Goldfield operators. 5.000 Apex Ref A Dr LOW Montana-BlnghaOffer New work has begun at the Cracker 1.000 Apex Standard Offer 6.000 Montana-Wyomln- g Silver Pick, Spearhead, Jack, Florence, 3.000 Baker Steam Motor .03 1.004 Ohio Cop Mines Co (old) ... Great Bend, Grandma, and other prop 100 Beet Growers Sugar 8 60 6.000 Mascot O R erties, and the entire Goldfield district 1.000 Croesus O D Offer Bid 6.000 Ogden Petroleum appears on the eve of a sensational re6 00. 3.000 100 People's Sugar Market Pet vival. Considerable interest Is being 6.000 Capital 60 Garber Motor Offer Pan Cushing ..Offer, In outside capitalists manifested by 100 Davis Weber Water L00O Pinion Queen H ... 276.00 Olfer , n 6.000 Etta May promising sections to the south and east .03 3.000 of the main field, aa these portions of 6.000 Eureka Standard 1.004 Rye Patch Offer Offer. the district were never given merited 10 Ellison Ranching ..........120 00 3.000 Sunset Mining . attention, although much good ore was 1.000 Ffergo Oil M Txai Eaftl Offer Offer exposed In many of the old properties be10 1.000 Golden Belief Tintlo Mill Offer fore the decline of the Goldfield Consoll 100 Gunnison Valley Sugar ..... 6.00 Offer , dated discouraged Investors. Utah-Idaho 1.36 1.000 General Red A Chem 104 .20 Sugar At Stonewall the Yellow Tiger company 10,000 Gustaveson Oil .08 m .02 1.440 Con Is rapidly extending Its Sterlag tunnel 1.000 Glen Allen M Oil Offer .10 3.040 Dome Virgin and should soon Intersect the first of 1.000 Grater Con 04 5 Offer 1.040 West Statea Mtg Loan the series of veins traversing the Stone6.000 Iron County Coal ... OffeF Offer 1,044 Wasatch Mines wall and Sterlag groups. Rich float is 6,000 Independence M ... Offer 2,000 Wasatch O R being found, and development In the upFOREIGN BONDS AND SECURITIES per workings have proven conclusively execute will any orders for the purchase of Belgian, French, Italian, British that the ledges carry high gold and all and I German Internal Municipal Bonds or any other Foreign Securities direct by. ver values. and Colorado, California cable with European connection!. Details and prices (depending on dally exchange eastern people are heavily Interested. rates) furnished on application. I Issue a weekly market letter covering mining, oil and industrial stocks, which will be of Interest to all Inveetora and w he sent free en application. Stocks sold on margin, monthly payments and buyer and seller 69 days. , , I can handla any stock- - In any market amp year. 01 Vi 25 8.000 2,500 ALL OR PART) 500 .01) -- ...Special Prloe g BOO Idaho-Wyoml- ............. Tri-Sta- te Tri-Sta- Utah-Wyoml- ............ ........ ............. 1 low-gra- Tfc ..... 8 10 Pope-Sbeno- ......... ........... ............. 3000-fo- Experiments Being Carried On With Machinery Invented by U Professor. Suite in bundled. RAILROAD BONDS (As Reported by J. A. IJogie -- A To.) Bide Aakvd. ............. ............... Testa of the oil shale apparatus Invented by R. D. George, professor of geology at the University of Colorado, are being made, aooordlng to advlcea received from Colorado. Professor George declares hla apparatus will produce more high grade oil to the ton of ahale rock than any other method now In use. As In the ordinary system, the crushed shale lx heated In a gaa retort, but with the addition of superheated steam, which passes through the shale, expediting the process of vapori- ...... ....... ..... ......... m sation. According to the professor, slow vaporization of the gases is one of the leading causes for the production of nonconvertible gases, or vapors which cannot be condensed into oil. Rapid vaporisation is advanced In Professor George s method, not only by the superheated steam, but by an electric blower, which draws the vapors from the retort through the four systems of conabnsers at a pound and a half of vacuum a Bqu&re Inch. The highly heated vapors are taken off at two points, enabling the operator to observe the temperature at which best results are obtained. From the retort the vapors pass Into an air condenser, where the oils at high boiling point 'are drawn off. From the air condenser they run Into a water condenser, which Is an apparatus resembling the worm of a moonshine still, with the exception that the coiled pipes are of Iron Instead of copper. The colls are buried In a vat of running water. Here those oils that boll at low temperature are collected In long herlsontal cylinders. While the low temperature oils boll at 150 degrees centigrade, the high temat 400 degrees and perature oil vaporizes Is to liquid form converted consequently proportionately more quickly than the former. This difference enables the oils to be separated by the methods of the air and water condensers. The vapors pass from the water condenser to what Is known as a 'scrubber, an upright cylinder filled with pebbles. through which flows a thin solution of oil. Virtually the last of the condensable vapors are converted here, but there Is still another condenser on the chain, which, according to Professor Oeorge, Is the last possible degree In condensing. This Is the lead chamber, filled with a dilute solution of sulphuric acid. Any vapora that pass througtj. here are classed as noncondensable and escape through an exhaust. tn the shale, according to the profeasor, there Is from seven tenths of 1 per cent to 1.7 per cent of nitrogen, part of which can be converted Into ammonia. Ammonia vapora are given off when the shale reaches a very high temperature, and pass, with the superheated steam and other vapora, through the condensing system. In the scrubber these ammonia vapora are oondensed as a mixture of ammonium carbonate and ammonium hydrate. In the lead chamber they are caught by the solution of sulphurlo acid and converted Into a form of ammonium sulphate. It is proved here that the oil yield with the uee of superheated steam Is from two to three times greater than declares Prothrough dry distillation.' fessor George. Then there la the question of fractionating or separating tha various oils and refining them. It la one of the aims of retorting to obtain crude oils that are easily divided Into gasoline and kerosene and light and heavy lubricating oils. It has been found that some methods of retorting shales make oils easily While others produce oils that are very hard to fractionate. "A uniform temperature of retorting at aa low temperature aa commercial success will permit will yield oils easily fractionated and refined. But the difficulty of attempting to retort at this low temperature Is that It tends toward slow vaporization, and consequent lost in convertible gases. This It overcome by the superheated steam and vacuum process, which expedites the process even while accomplishing tha purpose at a loxrer teirmerature. "Bom Inventors of ahale distillation processes boast that thev obtain enough fuel gaa to run their retorts. Perhaps that a large thy do, but this meansconstituents are part of shale sacrificed so far as the prime motive of the'r retorting la concerned. "It would be Infinitely better to produce the fuel gases necessary for retorting by' use of a gaa producer plant proper. The value of coal or naphtha neoessary to produce the necessary fuel gas would be far less than the amount of convertible vapor need to large heat the retort This undesirable practice also means that vapors which would otherwise be condensed Into oil have oracked and separated, and undesirable hydrocarbons have been formed, , thus lowering the grad of crude oil produced. "Another atm ahould be to obtain a crude oil containing the highest percentage of desirable constituents, vis., gasoi line or light oils convertible Into gasoline. and lubricating etl stock. This. I have found, la beat obtained bv the low temperature and quicker vaporization resulting In the presence of superheated steam, and by the Immediate removal of the frag naiad va.-- x formed. .......... ot ............. ............. .IQ---- Pope-Sheno- 9 ....... Utah-Wyoml- .......... ........ ' Panic Prices BOSTON STOCK QUOTATIONS. I At Reported by J. A. Hogle A Co.) now prevail In all good Bonds and Stocks and those having a few hundred or thousand dollars should lm, mediately take advantage of present conditions to Invest. Our plan will help you buy the soundest dividend payers. Easy, convenient way without making large outlay of money. Full Information free upon request. Don't procrastinate; write today. C. 8. GODDARD, Atlas Black. Salt Lake City, Utah. SCOTT & STUMP i Phene Wasatch 2254-- ., Worlds Most Essential Product More Necessary, id More Profitable Than .Gold Investment Securities SPECL4LISTS IN ODD LOTS Stock Exchange Building PHILADELPHIA. PA. New Tork, Coatesvllle, Norristown, Pottstown. Chambersburg, Pa. -- V-- 8. American (SUDJETj 8.600 Alert Oil A Refining 3.000 Apex Ref A Dr (new) MARKET Started on 17S0 Level Leasing Organization Starts Eureka Hill Work FOR BIO PROFIT STOCK Drifting at Plutus Mine Manager Cecil Fitch states, the Eureka Reporter, that a drift Is says now being driven for the development of the Plutus companys property, this work being at a depth of 1760 feet. Two hundred feet of should be sufficient to cut a most drifting Important system of faulting, and officers of the company consider this the most promising piece of development work Gold Outflow Same. thwt has yet been taken up In the Plutus The outflow of gold continues at the which la being worked through same rate, and the depletion of the mone- ground, the Chief shaft. It was about doubt, proceed a year ago company's tary gold stock will, no of that some ore was encountered the present In the Plutus The margin relatively. a at of 1000 feet, and depth gold reserve Is very low, and deflation, since that time a winze lias been sunk or more properly, contraction of the cur- 760 feet, while considerable rency volume therefore 1s compelled. was also performed on a levelprospecting la which in"Too rapid deflation will dislocate about 400 feet below the loOO. production, acdustry, and by curtailing centuate the severity of all our economic Ills. When we consider that deflation New must proceed at a rate of from twenty to thirty-fiv- e tlmee the loss of gold, we get an idea of the rapidity by which the volume of currency must be contracted. Salt Lake parties w ho recently organThe time haa come when deflation In our credit and currency structure Is a ized the Keystone Leasing company have already commenced work In the Eureka forced necessity, but If these excessive Hill company's property, a large heavy losses are allowed still further to block Mining of which ground has been taken reduce our gold reserve, the deflation wtu be on a scale far too great for the over under a lease agreement, says the Eureka Reporter, it is understood that country to sustain. they will devote their attention to the "The production of new gold, It is esti- south end of the Eureka llill territory mated will- not exceed 40,000,000 this and that their first work will be handled yesr. being a decline of 18.000,000 tofrom from the 900 level of the Centennial Euex1111. This Industry is being forced tinction by continued economic pressure. reka mine, the shaft of the Eureka Hill company not being In condition for use Gold production has declined from In 1916. The loss In production of at this time. L. E. Riter of Salt Lake Is new gold to the reserve, added to that reported to be In charge of the affairs of withdrawn for use in the arts and trades, the leasing company, and it is understood will still further accentuate the volume that arrangements have been made for a rather extensive campaign of work. of neoessary currency deflation. TO SELL 6,900 DOMINATE ON HAND OR LISTED WITH ME I HAVE STAGNATION CONTINUES TO YOUR OLD NUGGETS ARE WORTH MONEY DENVER STOCK QUOTATIONS. I As Reported by J. A. Hogle A Co.) Bid. Asked, are now Gold, silver and platinum bringing such high prices that It will pay to dispose of ores, concentrates, amalgam, bullion or nuggets. Right now wa ars paying the highest prices for anything containing gold, silver or platinum. Ship to us by mail or express and we will send you by return mall the highest spot cash value, and will return your goods within ten days If you are not satisfied. Nothing la too large or too small for ua to handle. Old jewelry, false teeth, silver plate, etc., also purchased. The Ohio Smelting A Refining company, 281 Lennox Bldg., Cleveland, Ohio. Bank references. (Advertisement.) INTERESTED IN QIL? Get This Dope-SheFREE All the New About the Great North Louisiana Field the World Wonder Oil Reservoir et Thing of the utmost important gad greatest interest happea every day in the North Louisians sad East Texas oil field. Enormous gusher come in. Men become millionaire over night It certainly is a exciting life. Did you know that Louisian hat a score or more of millionaires that a short time ago were ordinary southern negro field hands? It la ao. We publish n paper chock full of the most Interesting new of thin field. Tour regularly FREE 'you'll send year nams and address. jt ) J. R. 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