| OCR Text |
Show THE SALT LAKE TRIBUNE, BtFN' DAY HORNING,' MARCH 27,1921. . TENIilORE SILVER STATUS - BUICKS! ble operation of mlnlhg properties In th district Is th transportation faellltfea. Nevertheless, the llfna Is bound to come, and that soon, when Eufeka's Immense e deposits of milling are will attract large capital. Th great progress being made by metallurgists In reducing the cost of estiactlng metallic values and increamngTn th recovery assure those Inth6 camp that th day la Dot terested far remeved when Eureka wilt be oh of the greatest manufacturing centers for :he production of gold, allver and lead In the United States." yM. F. NEWMAN BUYJTONE 4 ' Production in Mexico Rap idly Decreasing to Minj-mu- Indicate Even Statistics . Is ? Decreasing. . Although the outlook tor foreign Oliver not at present of tho Lest. with foreign ailvef mlnea abutting down and kli Of the bfelbf production of the United State bought under the regulatlone of the Pittman act by the treasury department fct 1 ptr ounce, domeatlc white metal pro duceta are facing a better future than other metal mlnera. According to the Boaton Newt Bureau, the prealdent of a large allver mining company operating in Mexico haa made the following atatement concerning the atatua Of the metal i courae, we all know that the only real Or permanent demand for allver ofig tnatee In the orient and on account of crop failure both in Chino had India, With'' the consequent falling off of their export trade, there la nothing at the preaent to give them any particular buying power or to stimulate the demand for the metal, and I ape nothing In the future , that la likely to Increase the price of silIn ver until another crop has beett-ma- de the Orient and a favorable trade balance established. Another disturbing factor at the moment la the stock of silver that la carried lb Chinese And Indian banka, which ag- rentes approximately 75,000,000 ounces, t la my opinion that this surplus stock at hOme will have to be absorbed before o very great demand will be created for foreign purchases and, therefore, the extent to which silver will increase in price during the latter part of this year will depend almost wholly upon the amount of the oriental export trade "and the favorable balance to them resulting from It. . la ,1 ' f Mexican Plants Close. - Many smelters In the Republic of Mexico are closed down and not to exceed three cyanide plants are In operation. The production of allver In Mexico this year will probably not be more than id per cent of what it waa last year. All of the production of the United Stated Is taken by the treaaury under (he Pitman act. which leaves only the production of Canada, Mexico and Australia as the principal sources of supply for all other world requirements and. Inasmuch as ths operators in the latter named producing countries have decided to discontinue production, thus obviating the piling up of a large surplus, as has been done In the case of copper, the recovery in the price of silver should be rapid when a buying mov begins "I believe that the mof er less enforced of in mining suspension operations throughout the world la going to have a most beneficial effect through the proper of wage scales when bualnea adjustment la resumed. , of foreign origin allver from Export this country for the first fifty-on- e days of thl year, the latest period reported by the federal reserve board, amount to Excess exports are reported $11,794,428 $3,817,805. Mexico, which supplies more two-thir- at than of total foreign origin silver Imports, Is credited with $967,000, $500,000 over previous y periods Mexican Imports are expected to enow another pronounced decrease for the period from February 20 to March 11. Total Shipments to China, Including India Hongkong, amount to 55.026.7S5. again received stiver, of $139,101 value and a total of 3806,914 this year, and even Japan has drawn down $1,088,945. a decrease of nearly ten-da- Domestic Output Less. It II generally conceded that excess exso far this year repre-seaccumulations In December, when higher prices were expected, and thst available foreign silver will be quite small from now on. Concerning the present status of the white metal, the American- Mine Reporter makes the following statements: Total silver purchased by the treasury under the Pitman act amounted to 41.507, 1(1 ounces March 9. Total for the flrei ten weeks of this rear Is 11, 599.281 ounces or at the rate of more than 1.100,000 ounces weekly. Earlier In the year these pttrehaass were at the rate of (2,000.000 butietfl yearly and at present are, therefore, lower, at 57,200,000 ounces. This later figure is nearer estimated production In this country for the current year. - It Is reported that practically all the smelters In Mexico are closed. In Can ports oxer Imports nt - ada all properties save Nlptsslng have susIn Mexico this depended operations. velopment is due to low prices bn foreign origin silver and prevailing absence of demand for lead and tine. With this source of foreign origin silver removed, more than 1,200.000 ounces total availweekly can be deducted from able foreign origin silver. " With the 1,100,-00- 0 ounces weekly that are absorbed by our government at $i net an ounce, less than 700.000 ounces are available for the remainder of the world, and thia Includes ordinary commercial uses in this country, motion picture, jewelry, photographic, etc., trade demand.' most Important of any that relate to safety in coal mines. Its Importance Is shown by reference to accident statistics In bulletin 115 (Fay. A. H Coal Mine FataliBureau ties In United States, of Mlnea 1916), which show that about 7Y per cent of the fatalities due to electricity In and about coal mines were caused by direct or Indirect contact with troliev or other power clrculte. In actual number this meant that of 710 men killed by electricity 646 were killed bv contact with electric wire. Undoubtedly a large percentage of these accidents might have been prevented had the wires been properly guarded. Electricity Regulations t in Mines Are Reported NEW T0RX PRODUCE. 1870-191- 4, NIW TO UK, MnHh 26 Butter, raster; errantry, higher thai extras, 46ei74i-- ; trestnerjr extrsa, 0Ala(j46tc; creamery firsts, 43 46c. Bess, steadier; fresh gathered extra firsts, WASHINGTON, March 26. As the use NH627V: others unchanged. of electricity becomes more and more genCheese, irregular; state, whole milk, fists, eral in mining operations Interest in reg- fresh other unchanged. sprctjla, 24 U, ulations governing Its application becomes Lire poultry, steady; fowls, 26c. Dressed greater. During the past year the elec- poultry, steady and unchanged. trical section of the bureau of mines has made a study of state regulatlohs now In FLOUR AND 8 BAND. force relating to the use of electricity In MINnRAPOLIS, Karsh 26 Wheat Receipts, coal mines. Technical paper ?1, entitled cars, compared With 811 cars s year ago. State Mining Laws on the Use of Elec- 821 No. I northern. $1.67&1.62H; Mareto, Coal Mines, has 1'ash tricity In and About $1 40H; Mar. ll.S?. a result of this study. been published as Corn, No. 9 yellow, RHr.V.f The present paper represents a compilaOats, No white, 854b4C36HiC tion of all laws relating to accident preBarley, 4f4tm. vention with respect to electrloai circuits. Rye, K.ol, 91.44llfil.464i. This group of regulations is perhaps ths Ha. No. 3, $1.74ttol.T7V. r All , . ' Notwithstanding the weakness of metal prices and the financial stagnation which has made It dlffleultto secure money fof the development of mining properties, conditions at Eureka, Nev., are basically sound, according to O. C. Johnson, mining engineer and aasayer. Mr. Johnson, who Is a resident of th Nevada camp, la In Salt Lake City, en route to southern Utah, where he plans to make a reconnaissance . of certain oil lands. Eureka mining companies have tone bn in Work steadily with their development spite of all handicaps, according to Mr. Johnson, and important results have been accomplished. That this Is true Is Indicated by the fact that Eureka stocks have held their own on the various exchanges better than most mining issues of a prospective nature. Regarding the rumor that Henry Ford had secured an Interest In the Eureka Croesus company, Mr, Johnson had ho Information other than that which had been printed in varloua newspapers. Nevertheless, Mr. Johnson Is confident that some daw large capital will awake to the wonderful opportunities offered for Investment in the Eureka diatrict, and that when that day arrive an era of long and profitable production will begin for the whole camp. At preaent there afe thousands of ton of ore which carry at least $20 per ton In metal values and a high aa $25 or $50, according to Mr. Johnson. The mineral deposits of Blureka offer to capital one of the greatest opportunities for large scale milling operations in the United State, according to Mr. Johnson. In connection with the profitable exploitation of the deposits of the camp, the project of the Eureka Holly company 4n building and testing out a volatilisation plant Is perhapa the most Important work being done In the district. said Mr. John, aon vesterday. Thla process, tested Out The In Ban Francisco, waa successful. unit, which operation of the first ten-to- n will should begin very soon, be watched with extreme interest by mining men, for should this process ba successful and economical, as the company thinks It Will be, metallurgical treatments planned for the ores of Eureka will be revolutionised and the future of the camp assured. At the Eureka Croesus, the development work now being carried on 'Show that It haa been well planned. Moreover, It la being done In a most methodical, The Ruby Hil workmanlike manner. property hea also an excellent future. All of the mines operating at present certainly deserve commendation for doing their work in such a painstaking manner. Such a spirit augurs well for the future of th camp. Work la being done most thoroughly at the Eureka Nevada property, owned by Salt Lake men. This company haa outlined a comprehensive program of exploration work and la executing thla plan tit a most thorough manner. The adit which la being driven to open up at depth, promising showings of ore In the old workings. Is now In a most favorable territory, understand that the company has A good showing of or In the winze sunk from the main tunnel level. This work Is also of utmost Importance to the camp, for. If successful. It will open up a new territory and prove that the mineralization Is of a more extensive nature than haa beeA commonly believed. One of the main drawbacks to profita . ii . Domestic of Output Mines m Bad. ag Mining Man Confident the Great Bodies of Milling Ore Will Be Productive. wr- Conditions t high-grad- (perlsl to The Trfbaas. NORTH tAl.f LAKH, Ksrrk M.Csttfo Receipts, SUO. Mark) active sad ststSy, Stmg (eoiead for elieirs fat kslferS, cows sad fat Iteera. Choice weighty steers, $6 264(1,28; ao6 steers, 93.60 00; feeder steers, it 604)9.50; choice cswe and heavy heifers, $9 6d(t $8: fair t good reive ssd heifers. $4. auRI.ee; cotters. $2 60(33 SO; rtaaere, $3 00; fat holla, 00414. UO; holegae holla, $2.00439.00; light vest calveo. 00.50W1S.09. Hog a Receipts, ill, Market active; Street Oemaad. (hoi re srlne top fat boss, 170 le 200 poesda. 110.40; halt Stirs, 0S.2flaiO.26; feeders, OS. 50410 06. Sheep Receipts, Boat. Market higher) fair demand. Chairs fat lambs, light freight, $7.06 RT.76; choirs fee rlloga, 6, 004(6 60; fat walk-re- , IS.tOC4.io; tat ease. $3.00(34.60. I. ( OGDEN. Special to Th Tribune. Cattle Receipt, 28) ebetee hevy steers, $8.00417 96; goo steers, 26; fair is steers. $6 UOfiS.OO; choice feeder steers. 90.00 W0 00; rhotre cows tad heifers, 96 004(6.76; fair te good eowa ssd helfera, 4 004(0.00; cut- 93.U6R4.0QI ranker, '$2.00(12.60: choice rowa, $4.0O5 00: fat. bulla $8 0U4I iert, holnrn bulla, 62.763.66; vast ctlvee, $0 004310.00. Host Herdlpt. SeSe, Choir ft! het. 170 t 260 pouada, $10 66; halt M sale. $6.1)04316.86) fusder hogs, OS. OU 449. 60. Hheep Receipts, hone) chelc la aba, It.eo t4.001 00; wethers, $5,004(0.60; fat awe. $8.0041 feeder lamba, M. 00(37.00. 60. XAVSAI HTT. C1TT. Ha, March 6. (Called f Market. I Cattle Receipts, Slate Barnes 176. fee week) Beef steera a Berea, Steel ly ataady; top ah stock, 164)35e klaher; ran sera sad heavy calves steady; Vea lers, weak to 60o tower; holla, fully 26c hlfher; slackers and feeders, steady to street; atock calves 60s higher. (a Heg Receipts, 500; gcseralty steady troogj beat XlOpoasd boss $1016) a eke Ice lights a tale. for week; Sheep, Sheep Receipts soar ateady; yearl!as, 2630 hlfher; lawks, 61 9)76 higher. KANSAS OSAKA. Neb , March 98. (felted State 300 Buret of Marteta.) (Dye Receipts, llsh Mostly steady; spots 10(9160 lower e butcher; bulk medium sad light hatchers, top, $10 00; balk stiwag weigh (SOOQIOOO; batchers, CM pouada ssd Sver, $ 26(26 00. Cattle Receipts, 106 Mtrkei coal pa red Will geek ago) Beef steer a ad ah Slock, Weak ta She lower; aporta, more; bulla, weak) Tesla, 60c to $1 lower stacker Ssd feeder, feast I; 20c lower. Sheep Receipt, bobs Market compared With week as: Sheep and lambs, generally 26 higher) feeders, ataady. OMAHA, Corrective Seem to Have Failed, Says Boston Financial Paper, Th copper mirkot has been tn th bonds of buyers so long that they cannot Do Stampeded lht making Anything but day to day purchases. European Orders, Which wefS fairly largo ths latter part of 1920 havs dwindled to tn XAhlihlng point On of tn independent selling agents last week atated business sine Mafdh 1 haa dried up en, ; tirely. In short, all the correctly measures thus tar taken by eopptr producers have failed of their purpoi th price of metal It dletlnotly soft and copper aan bo had la large quantities for almost any nearby Salivary at laas than II cent par This price IS S cents leas than pound. tho average oast of producing copper in tho tlfat sixty day of thia year, 5 Production of refined copper In Pebru-ary amounted to Approximately 105,000.-90- 0 pounds, of which between $5,000,600 and 10,006,00 pounds was the. product of American mines, March will ahow A further contraction, Thus, for the tirot time ainoe tne armistice production Is running under (0 per cent capacity of leading mine and considering tho large number of smaller properties Closed down It I under 40 per cent of the country's productive capacity. But What is worrying producers is that even with this small output, stock kr being added to. Including th 400,000,000 pounds of metal financed by th recent Issue of $46,000,600 bond, surplus copper above ground today le estimated by It leading copper, man at more than l.OOO.r 000,096 pounds, both raw and refined. This hug surplus, together with tn fact that notwithstanding 400.000,600 pounds of Ihetal wtr theoretically removed from tho market th price of copcents per pound, haa per dropped to convinced producers that they must either curtail further of shut down entirely. Th dilemma I that further curtailment mean another boost In coat And absolute shutdown means disruption of workIt la probable, thereing organizations. fore, that tn next step Will be In tn direction of further curtailment perhaps to 25 per cent capacity and another cut in wage. Wage at th leading mines et the country have beea cot from 15 per cent to 17 per cent This Is far beiosr the In other line of Industry. reduction Textile labor suffered a eut of 22V$ per cent In an blow; In ahoes, leather, lumber and other tnaustle the ut has been equliy aa groat Beaton New Bureau. -- COMPANY STARTS DRILLING. UBIIE9 OIL. Th Bear River Oil end Development Dtrt.CTH, Mins., Mifrb M. LlasSed aa track company tatwilt eommenc Drilling on thtf lid strife, $1.70. th Fossil dleirlot of Wyomholdings ing aext weak. They hxv s well down HAT. to A depth of 107 (set And nr now in KANSAS CITT. Match 26. Rtf, knekaagrd. tho caprock. FIOOR AND IRAK. CHICAGO FR0DUO1. 0 CHICAGO. Mares IS Batter, higher) ereomery eatfet, 44c) Itssdard. 4144c. Kill, lewor; receipts, 24 421 eases! ft rata, 22Vjc; ordinary firtia, 19 3Uc; at stark, ssaeS tartuded. 21 22c. Poultry, a lira, lower; fawta, 2$e; kpriSfk 13 ceata. MINNEAPOLIS, March Jg. Bras, $30.00 'it 06. NSW as ta krt. . . The J. G. Peppard Seed Company of Kansas City, Missouri, announces the purchase of the entire holdings of alfalfa seed of the Seed Marketing Association of the Utah State Farm Bureau. ' Our company desires to establish permanent connection with the seed growers of Utah and Idaho. In the stress of present conditions, we feel that the time has come for a more thorough understanding of the relationship which should exist between grower and distributor. ' Readjustment demands that men in all lines of production and distri- j bution, both' agriculture and business pursuits, "should closely examine their methods, cut the corners and eliminate unsound and harmful practices of every sort. ' It is our desire to establish a harmonious and effective cooperation, to eliminate waste in both production and distribution, and to restore confidence in the resourcefulness of our country's business fabric. mr me Jo (G eeei KANSAS CITY, MISSOURI - Floor, sArkasgad.. HOLIDAY OX tICHANSiS. TORK, Marrk 2. TaOay la (( sad sodtr eottoa sd X " Measures' - "X V U t holiday tick |
