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Show V 0 THE SALT LAKE. TRIBUNE, SUNDAY MORNING, METAL3 Oeppar , - Him Laed (J.w Trk) SpWUr pm (Bast BUm (to Loodm) ALTA MINE DEAL y . ,...i.7d.T5 It, .Lsaia).,.. ... Tunnel on Raven and Company Begins Pros pecting at Depth in South Fork From Victor Tunnel f r Trading cf a desultory character was featured yesterday on the Salt Lake Stock and Mining exchange by the activity of Tintic Standard, which, with a total of 3300 share dealt In, was (he molt active lsau on the board. Throughout this volume of trading, the price held steadily at $1.00. As a whole the price trend of stocks was slightly downward. Although transactloni for the week, a total of 273,139 aharee valued at Waa slightly less.than last weeks aggregate of 348,133 shares valued at th volume of activity dur334.833.15, ing the last six days has bean fair, considering tbs general lack of Interest In speculative iaauea. Alta stock had a day of unfavorable Albion receded on price development. from V4e to 614c, trading of 1780 share Columbua-Rexall to Alta Tunnel to lie, Mtchlgan-Uta- h 14c and to Emma 14c, to 6140 and tc. Tar Baby, on the aai of 6000 share., receded to 31c. tne Sella, the moat active stock on board in point of th number of ehare 19.000 traded of a total ehares, active, for the greater part of its transactloni at 214c. This activity arose pront.y from the announcement that stockholders are to hold a meeting in November for the purpose of considering the advisability from of Increasing the capitalization and reduc800,000 to 1,000.000 shares 26 to 1. cents from value the par ing cent The only other expensive stock to trad besides Tintic Standard waa Silver King Coalition, which traded at 82 10 for Dou share. Tintic prospect had a quiet day. Of this claas. Eureka Bullion, with 8000 shares, sold at 414c and 4l6C. was the only active lsau. Bingham Galena Leased. traded at 714c for 2600 share. QuotaVictor Ground follow; tion To carry on more iffit'ently ha work I.ISTRD STOCK. f exploring at depth, 'the 'American Bid. (Ashed Metal 'company recently acquired the it Into ground right to drive a heading TNt agreement from the Victor tunnel between the Victor Mines and the Airfvr lean Metal company also giv-- s the lattei bon! and lease with th. organization ground option to buv, a atrip oi Victnr Amerifeet Wide contiguous to the alee can Metal companys tstate. agreed. It Is said, that the ore30 pr cent ixtracted yovalty to be paid for the ground option to buy a atrip of Victor shall be applied. If desired, as an equity SJO.OIW, of providin the purchase prltfc ing, however, the term jf tho iontracl pre executeo. o keen The leasing company o An average of two men steadily employed a Is nrivt-tunnel until the tnerv day feet ,'M distance of approximately of through Victor ground Into tho (state ihe American Metal compare, by this agreement the Victnr Mims company will have feet of It property pro (tout by (t tunnel with "the privilege of starting work at any point In th Wotk has already been vrgun In the Victor tunnel by tho A met lean Metal been (ompany anti steady progress has com . mad. The building of thothoVictor American used arc by . Iiany being Metal company.' Home adtPtkin tu these; a bunkhouse, a blacksmith shop and a cellar have been built. The face of the American Metal company dit la being direcpushed along In a outhwebrl fissure, it tion along I aaid. . lti , Surface Work Extensive. Development work being carried on in th "L Marie mine , In the Btanebury mountain range. Free Coinage district, about nine miles from GrantavUl, to attaining gratifying result, according to John V. Long, 3r, president and manager ,. of th company. Recently W. H, mining engineer. In the employ of the Alaska Petroleum and Coal company, examined th company' property, said Mr. Long yesterday, and made favorable report. In hi report Mr. Warnock state that the lime, shale, quartslte formation with Us atrong fissures, large porphyry intrusion and intense surfa'o mineralof isation, should be at depth productive sliver-lea- d ores of considerable ", allies-ThMari company la concentrating lta development aor't on building aeveral cabins In more convenient location and at the same time to driving a crosscut tunnel on the P .scilla and the Raven claims. On the Raven t.aim, the adit being driven i,y lessees, according to Mr, Long, a but thirty feet from the downward extension f a iron blow, out which la thaugnt to I rl' noted at ths of a Intersection (cntnct fissure. and a strong northwest-southweIn the Priscilla claim, the main workla of tunnel the ing company being pushed steadily. Thia adit Is following a strong-to ly mineralised contact, says Mr. Long, Its Intersection with a large Iron blowout which outcrop on a northeast-southwevein. This blowout ia of such large size and of such high mineral value on the surface, according to Mr. Long, that at Its Intersection with the soluble lime beds df the lower horlsons strong mineralization should be opened up. buipiee taken by an engineer In the einjmiy of a large smelting company from aurfate workings In a vein which traverses the company's property gave the following assay: 7.8 ounces of silver, 36.7 per cent lead, 1 per cent Insoluble, 9.9 per cent sine, 3.8 per rent Iron. 4 8 per cent lime, 1.7 per cent sulphur. The value of the sample, with metals figured at the present market rate, and after smelting charge would' be 311 36 a ton, according to Mr. Long. - . .... t Wai-nock- la-- .e st st Exploration Work Started West of Great Bend Shaft a? Hecla Mines Com' pany Organized to Take Over Large Mineral Estate South Organization of th South Hecla Mines company, by the Watson and the Knight Interests, thia week, ia considered by Alta mining men to be a atap of considerable Importance. By th aequislMon of the properties and th property Interests of the. Alta Utah Mines and th South Hecla, the Albion , Consolidated, and the South Hecla Extension Minnf companies, the new oompauvs estate will comprise a total of 1300 acre on th south side of the Alta district reaching over into th American Fork district. The new company ia capitalised at 3300. 000,- - divided Into 4,000,000 shares of 1,value. Qf this capitalisation, equal 909.000 shares have been Issued In pay ment for the property and the property interests now owned by th according to George H. Watson, president of the new organization. The remainder, 3.001.000 shares, he ay, will be placed in the treasury for th financing of development work and other corporate purposes. Within the boundaries ot the new companys estate there has been done up to date approximately ten miles of underground work and 34,000,000 of ore haa been mined, according to Mr. Wateon. By the merging .of the properties Into one estate. - development work can be carried on with greater efficiency and at a reduced cost. An aggressive campaign Is planned by Mr. Watson for the winter months In order to add to th reserves of ore now developed and to prospect virgin territory. Considerable development work ha been done in the Albion ground from to open up at depth tunnel the Quincy the ore bodies productive In the upper levels of the old producer. From the Dwyer tunnel, formerly In South Hecla ground, the Wedge, th Kate Hayes, and the Wellington fissure systems have been developed, it i the plan of the management to develop during the winter months the southern extension of the Cardiff overthrust contact In South Hda Oot 22 In hie latest report of operations on the Great Bend, Consulting Engineer J. K. Turner recommended that the property be ex- lored to the west of the shaft. This work S aa now started. The crosscut is now level out fifteen feet from th of the main shaft. In the early dave a considerable amount of ore was shipped from the surface and near surface wot king of the ground that The easterly this work will explore. leveis have drifts on the 236 and exposed a considerable amount of good grade mill ore. The bins are full ot shipping ore and more mill grade ore ia on the dumps. Should a body ot mill grade ore be developed at the west, as is expected, then the policy would be to erect a small mill, which would not only handle the Great Bend ores at a profit, but provide a custom mill for the several companies in the Dlamondfield section of Goldfield. The want of auch a mill has greatly retarded mining near-b- y in. this locality. In Work the Great Bend ia atill pro- In the drift alongFlv! 3 la .vein fnreezing which a good grade of ore was ells covered some lime ago, but, owing to the soft ground, had to be approached by going back Into the country rock and drifting alongside with crosscuta back to the vein every fifty feet. Advancing Civilization Demands Ceaseless Effort in Converting Iron Ore, jCoal and Limestone Into Usable Metal Products - . high-grad- Our Market Is Waiting The market for the steel waits upon our ability to supply it. This market is practically the west half of the United States the area lyingwest of the Missouri of the population of the United river jts "population 20,000,000 people States. Utah is the geographical center of this territory and a protective freight rate advantage assures this market to Utah steel mills. With these facts before us there can be no question hut that the steel mills of Utah will transform the state s- limitless stores of raw materials into usable wealth. This wealth will be shared by the stockholders of the Utah Steel Corporation. As an income producing investment, we know of nothing as attractive as the preferred and common stock we are offering to the public under an exceptionally advantageous purchase plan. one-fift- h territory. work, according to Mr. Watson, result In the opening of Important deposits, which In the upper workings ot the mine have been very productive. The new company begin Its existence with an equipment which haa coat approximately 3400.000 and with an estate composing a block of ground from two and a half to three miles long and on mil BOSTOM - 00PBZB OLOSZ. by J. A Bole 4 . Oo) r 376-fo- OIL Reported br J A. , Send for Our' Booklets Today! posaibUltle of the Investment we offer yon the first time In. the history of steel In America the public haa had the . opportunity of entering a steel producing organiiatlon on equal terms with every other stockholder. Fill out the coupon and mall to our general offices, Boston building, Balt Lake City, today. By return mall you will receive all the details of this? great Industrial enterprise. Larn in greater detail of the earning IT00KS. Hojlt A Co ) y. TirmnrDlTir,ui1iii W0RX3 MIDVALE District salca pacUl t Government Takes Over Mine Claims Contests , OPENI.NO, --2 Albion. 7.V) at 6 1000 t Idaho mlnlnq BOISE. Idaho. Oct. Alta Tunnpl. 1000 at lie men are gratified over the announce2500 at 7VjO Bingham Galana, ment that the government will take rnlumbua Rpvall, 200 at ISVic. Over th contests on behalf of claim own10 000 Emma. at S.it 44c; 2000 at Ae. been emers whose mineral estats have Eureka BulMmi. AOOO braced within the . 840 t ur- - homestead Unwell. 1000 at ftl,r. on This action or entries applications Michigan Utah, 4000 at 5c; 1000 at ZKti the part of the government hotice of 25041 at ftic. tteUa, 2000 at 3r: 17,000 it 2C. tjhlci has beenMs- sent out to miningof men the Milvcr King Coalition, beth, secretary 00 at $2.10 by Rat end Kilter blag ioeitnlidmed, ltii at 57c; 1400 Idaho Mining association, will relieve at of 50t. claim her expense. Tar Ruhr, 8000 at 4 ; 8000 at 5c. East spring the commissioner of the Tintic Standard. 1200 at office Issued a circular in general Itland was provided that entrymen Which INDHSTRltLS, homestead act had to under the Z. C. II. I.. 1 at 5109. j make affidavits that no part of their land TOTALS. was occupied or being worked under th Ml, Share Ml nold, anmining laws, I'nder the action just Latb value, $5901.75. j nounced, commissioners will appoint speWEEKS TOTALS. cial mineral examiners to examine minIs This claims. step eral Share told, 78 180 regarded by Cash value, 555.541.90 mining men as a great victory. v 64h-a- , PARTIAL PAYMENT PLAN 'He have initiated a plan whereby each ot our clients may take advantage of th present exceptional opportunities in the bond market. Bonds may now be pur- chased by making an Initial payment of t tnty per cent. The balance do be paid off at the rata of ten per cent per month. We believe there ia no Saving Plan In th world superior to an account of this Lind. Let u fumbfh you with complete Information. . - ' - j. A. Hogle & Co. INVESTMENT IS' Main 0t ftido- - Waa 77 Tai 52 $ SECURITIES fattakn. Utah Oa dan, Utah Nev., Oot. PIONEER, tar:d to The Ttlbuae. Tha Triboiia, llPlflHHIlIillilllilllllilljlim!irLllIIlliliIg Of BUILDING , SALT LAKE CITY, UTAH acattle, pcxctlahd, us angclcs t aan rAMCisco Sells Mine Stockholders to Hold Special Meeting Director of th Sells Mining company have called a special stockholders' meeting on November 17 to consider the advisability of Increasing the capitalisation of the company from 0i).00! to 1.000,000 aharea knd at the same time reducing the per value of the stock from 23 cent to 18 cents. The additional 400.000 sha-s- j. tf 'he stockholders order, will be placed m the treasury for the purpose of acquiring of oilier property or for any other corporate purpose. Development work being carried on In the property In th Alts I attaining gratifying r(,i!t. a, vs L Georg H. Watson, president of the die-tri- coin-p?n- ; C0TT01T BASKET. NHW TORK, Oct. 22 Cotton futare, opened bnrel IS 42c; etesdy; December, Ossuary. IS lift March, IS 08c; Mar, 1 7 04c; Jnlf, nne. Future rinsed ateedy; December. IS 0c; January. 18.ttc; March, 18 00c; May, lT.S7c: Jub. If. 18c. pet cetloo, guiet; middling. 18 80c. Cnttno rimed steady at to 18 pstota t aet deella of 4 y 22. I. GENERAL MOTORS In the Pio- neer mine, which adjoin the Mayflower, some Important developments are going The Pioneer shaft, now at a depth of 00 feet. Is th deepest shaft south of Goldfield. It Is now proposed to drive a croaqput to the northwest to get in unde the old bonanza atopes and then to continue on to get in under the old Tex Rickard shaft, which waa put down during th early day when Tex Rickard had At a lease on a portion of the property. was one time about 3100.000 a month the bonanza mined and shipped from V. a Offices Crosscut to Be Started From Pioneer 800 Level nn pcUt , Utah Steel Corporation the lower larborilferoue Hmetonea at their Intersection wdh the fissures explored ir tlu upper ptron workings and with the quartxlte contact, the J. J. Beeron, consulting engineer of Imcompany, is Inclined to oelive that be mineralisation up may opened portant for production of American the and directors Officers Mtial company are: Y. W. ripenr. Morrow, vW president, proridenf Tom secretary-treasurer; C. J. Hov Spencer Kuhn. The win fender its carry development on panv plana at Hwwftfi vhiMh time because of the ooppnKe of Ihe Irculation of suface waer throuqp most th lower formations, wo. v n jo un. efficients and ovonu;nknlly ll . part-ownersh- ip ' murk. Uy exploring CceMa Your Income Ia Assured rt this . 1 You may assure your own future by investment in this enterprise. With the purchase of shares, you are guaranteed an income as certain as the demand for steel the dominant barometer of American business. v This investment, moreover, not only assures an income return, hut the purchaser in the industry as well as its virtually retains his principal in his interest earning value proceeding from the consumption of the products of its furnaces. To finance the enlargement plan mentioned above, we offer to the public the 8 per cent cumulative preferred stock of the Utah Steel Corporation at 4100 per share. With each share "of preferred stock is included unconditional ownership of one share of the common stock of the corporation. Refer to the earnings of American steel mills and you will have a gauge hy which to measure the Value to you of this common stock. 836-fo- ot StAJTDARD PEACE or war, steel is a primary national necessity. Civilization demands it in beyond human comprehension. Upon steel depends the development of eities, railway rehabilitation, maintenance and extension, highway bridge construction, shipping, land transportation and the fabrication of unnumbered implements, machines and necessities ot motiernr life. Without- steel today, progress stops. This is the Age of Steel ! , We must immediately increase the capacity of our Midvale steel mills to meet the opportunities of Utahs logical market. We have already purchased 10,000,000 tons of rich iron ore from the famous Milner deposits in southern Utah only 200 e miles from our. plant. We have completed purchase arrangements for coke from ovens only 100 miles distant. Limestone deposits of unlimited extent are at the very doors of our mills. Every essential for steel making can be assembled vat Midvale at a cost far below that which must be met by eastern mills. Our program calls for the installation of sheet mills, blast furnaces, additional open hearth furnaces and other plant equipment that will enable us to turn out $12,000,000 worth of steel a year. INtonnages Mines Thi should JA i Steel Mills Create Wealth wide. ' to The Trlbena OOLDKUELD, Nev., Speelsl fA I'.miiUer&bld work ha been ('one n tas ea8 hv Ihe tOd American Co. foUditofl Coiwr company In tie upuw ounrtiit horlsont of the pwrtv, wht tiow belongs to Amerh'in Metul An upper tunnel was raf hundred fed and aeveral atron, well mineralise I fisurg were cut hi he p3rtxlte, On one of tem, Uu Hilvtr Jv.nif flssme, about 1400 f t cf work wn done; L the othrr. the CarfUUl. Severn! short lenses ot alxut 6mo feet. aher-Ne or, hut .o larg drjiosit. ue'e encountered as a result oi rtWh-rad- la Intersection. Important .Work of Importance In determining the mineral reeourcee of the South Fork district In the Big Cottonwood ha been tarted by the American Metal Mining - company, which h.ia acquired the holding and property right of the American Conaolldated Copper company. Not Only Will the 'policy of development outlined by the American Metal Mining company exptolt at depth the property of thia organization, hut at the earn lime Important data concerning the fotmation being explored by aeveral companle In the South Fork should be acquired. J Several companiea, the Victor, the Tar Baby and the American Metii, are seart the South Fork formation- - for the contact which has Cardiff overthruet proved ao richly mineralized lit t,ie Cardiff property to the aouth. Up to the it haa present time the contect, though been found upon the surface in the Victor at found not been depth. ha property, tt However, from recent devclopimnt Victor the which adjoin the Tar Baby, Mine property. It I believed that the of the finding of the northern extension Cardiff contact in the Tar Bnbv mine in a moat, but a matter of day or, at tho few week. .8inee the discovery that the Cardiff twerthrust contact ia one of the chief, if it i not at the present time the chief,, of mineralisation In tho Cottonlocu woods, the work of the Victor, the Tar Baby, at well aa that In olhcr properties, haa been cloaely followed l by mining believed men. Now that the contact to be ao near the face of the Tar Baby and In thi work the projsrtv heading, In the American Metal company ground I attracting lnoreaalng Interest. rom-mn- Pri-cil- Claims Approaching Intersection of Strong Fis-- ; Tintic Standard Leads Ac ' sures With Quartzite Con tivity, of Desultory CharWork. of tact Objective acter on Local Exchange. j0 OCTOBER 23, 1921. stops. Th Tex Rickard ground was never level, although explored below the a large amount of shipping or was taken out. There is still a big amount of millstringers of high ing ore. with occasional crosscut from the grade, in sight The bottom of the pioneer shaft will come in under the Tex Rickard workings at a the surface. depth of about 1000 feet from An upraise will then be sent up to connect with the old workings and with the old bonanta stops. It is assumed that a considerable body of ore will be opened In sending up these upraises, as well as opening th old workings. It is th plan of the Mayflower Consolidated to operate from now on al least ten stamp of th companys mill. A little later .five more stamps will be put in commission. Delay due to nonarrival of the needed 1400 feet of piping to connect the air compressor at the shaft with the drill in the Htarllght tunnel workings has prevented earlier operation or the mill. A tramway 1400 feet tn length connects th mouth of the tunnel with the mill. A the upraise from the Starbodies light tunnel connect with the ore all of from this group wiii be- moved IV. t. Tobtrr, g.'nrnl manoy gravity. ager, states thst the "mil h been thorKOXXT AED EXCHAV0E. row and overhauled is keed up oughly Ort about 5. per cent of NEW YOtflK xrhtoft, to an extraction of Great Britain, (ttnaoA. 5 52; ca- values. There Is said to lie a large irregular ble. 8W : Franca, demand. 7 2; cablaa, amount of good grade mill or in' the 7 24; Italy, demand, .W, table, I&3U,; Starlight vein and. with that isblocked out Belgian, demand, 7 14; rablan, 7 14V; German, said thst In the Mayflower proper. It ; rabtoa, MK ; Holland, demand. demand, Is about 3160.000 tn sight. Develop54 02, eabiea, 84.0. Norway, demand, 12.90; there ment work will go on for the purpose of Sweden, demand. 25 10: Denmark, demand, about this amount of ore in 10 10; Bwirnerland. demand, 18 48, Spain, de- keeping mand. 1J 2d; Greece, demand, 4 87; Argentina, sight ahead of mill operations. on Your Real Estate rlTHOUT red taps and de- without lay, we will make a loan on your We real estate. charge no commissions and you get your money at 266-fo- ot demand. 82.25; 91 It. Braail, demand 12.75; HEW YOKE FB0DUCE. NFW YORK. Oct. 22. "Butter, batly atendy: creamery higher than extra a. c; creamery extra. 474471 creamery Grata, Stiff 4ue. Kgx, ntrf mG freah gathered extra flrsu, 58 do Grata, 52t57c. i t,eep. steady, unchanged. U ".HQ 25c, poultry, enaicr, rhickena. fowl. 1728c; rooatera, 15c; turkeys, 32c. Dreaaed poultry, nteady, tuiclinoged. 448 once. Bee us it about KITED 8TATIS SOEKKXEKT BONDS (Aa. Reported by J. A Hsle A (o ) , Liberty it 81 4 Ai 9 2ml 4 W .. ... . . 11 444 da 2nd 4 do 8rd 4V do 4th 444 Vlrlorr do . Bid. .5 92.24 5 j 91 40j 02 4f I M.fto; JBdDSmitH QScms mwteaihawngiisAfUMto 48 YSAstSwraodLtb gtimmt Ore Producers W save time and money for others why not for YOU 2 Mall This Coupon i itt i4 j 92 . .... te4.. . 09 R. H. OFFICER 92 JH 03 44 02.49 93 ; 4 WH .VI j M) Aoj 94 71 2 Hfl m 54 90.4 i . OO.r Salt Lake City, Utah. Please send me, without obligation on my part, your Ore Shippers Service Letter. Name 4A h s k ' 1904 U. S. Steel SM st liti1906 U. S. Sled Sold at $S6 1917 U. S. Sted 5U at $134 Will history repeat itaelf in General Motors now that the Big Interests have taken it ver. What Are The Reel Facts? We have just prepared a complete report on General Motors, giving present position and futare outlook end comparison with position of U. SU Steel when th Big Interests took it over. Emry fa- -tor rhoulj harm a rewort. Pf of (An Tear ropy will be sent without oblltatiea Writ today for rsport Q.M. 1e nrpn( Rose & Companj? 50 Broad St. New York. UoA-tm- Tf Another U. S. STEEL? Money Loaned Address ; Ths Future Holds Jlolhing but Dark Apprehensions and all because I have always thought that to get nch I must ears big money. I never stopped to consider that the more a man earns the more he us-al- mends. I never hesitated a moment to consider the future. I sever realised that a small amount Invested at regular intervals wss th only sure way tr financial Independence in old see. Kriebel book. Getting AhBd, tells all this and more. Upon request k wilt be sent Ca you free of charge. Rriebel&co. Inoottmmt Soearitiet 117 tenth La Sail leans CMuta SL, Chiesg leeMerd Ciaotssatt tsdansslis Mlssskn letrak Clesslad ll. Lad City ; |