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Show THE SALT LAKE TRIBUNE, SUNDAY MORNING; APRIL 8 vat Owr. SUmr j'ik ItKfU .w Yark) lead (Ext Speltar ery IUn METALS. St. Louie deliv- ) H-- ..... (la Leadaa) mviPoriT 16, 1922. a 122 i MM IB! . Kendrick Intro duces Measure Affecting Senator Reserve. Dome Teapot Capacity of, Mill Increased; Better Progress Being Made in the Main Adit Success has attended the efforts of ths 1. Tk Tribune. WAHLVGTON, April H.FIve per cent of oil and gas produced from the naval petroleum reserve No. 3. commonly known aa the Teapot dome, would be paid aa a royalty to the state of Wyoming under the provision of a bill Introduced In the senate by Senator Kendrick. In explaining the purpose's of the bill. Senator Kendrick stated that It was designed to compensate the state in a small measure for the loss of this valuable area within its boundaries. The .. Jessing of ths Teapot dome, which It Is estimated contains 10,000,000 barrels' of oil. of now j being considered by Jh gov- -. . Arnme&L "Under the old system this land would havp passed Into private ownership and with the state would have been vested KenSenator the authority to tax it,"new system, by drick .said. "Under the which the ownership Is retained In the federal government,, the State, of course-lcompletely deprived of the power o . .taxation, although it will have the same iJXUleaxaawimipomimiiy I schools and providing all the maintaining I -- h formal f unctlona of state ani Jo'al for Which It would have - been responsible under the old rule. lpHd Extensive Profit-Takin-g and managementto of the Vlpont Silver Mining increase the capacity of Its loompeny New Buvintr Fsahirs rtf metallurgical plant at Vlpont. From jmlll cp.t,,, of handlln; nny tons daiy by installing new equipment and InWall Street Business. creasing ths capacity of ths ore elevator I the plant Is now treating 335 tons dally. iTUr soma tims driving of the Phelan tunnel was greatly Impeded. A shale formation of unusual softness mads driving of the main adit difficult. However, since a hard shale has been entered betBy ALEXANDER DANA NOYES. time Is being made. At present the NEW YORK, April IS. The . question ter face iof the tunnel Is 1300 feet from the of stock ex-- 1 pgrtaL Two thousand feet from the por whether, the north 'and change jLslnesb on Friday Would result I abouttba200bore will be turnfd foot of drifting And crosscut in a atfttwr 4vaco on BotunUy or don to connect with too to-j dine shaft beinr sun It on the vein from precautionary' reaction under week-en- d reaiUWgp wo nettled today at to start JP 0 .th workings. "K of this tunnel will gtvs large accumulation of buy-- 1 I - Completion on the ore deposits andIng orders gave the impetus to opening greater- depth facilitate drainage and transporta-10,prices and for the first time since May I1 siimlnate the necessity of hoist-wa- g mt.- - wbee - the rioo that period J Hon and F'rom he portal (o the mill the exciting, the total business dons Wlln. distance would toe approximate-yotothe Saturday market went be- - I tramway feet." The management is wow 1,000,000 shares. "Apparently therel1400 n "extensive was specuWiva .profU-laki""Bering ;the -- building- op -- surface a well aa new buying,. for the day net frnwF- H- - r,al conveyance of ore advances wersnoL-Urg- e; bJd,0"fd .r trains will be hauled galKA oftWdH or three points being in fact exceptloinal I "F " eleclri locomotive, the Incline sh aft from the and mostly restricted to the oil shares II h he vein and hlghly speculative- Industrials, - but , 1 re-the market a no lime displayed a most aome and of tha .wactionary trend, -- . 1 Oil Estimates High. ths ft country. covers approximately 7000 to develop It" Ths last naval appropriation bill carried a provision authorising ths secretary of the navy to develop the naval reserves either directly, by agents and Indirectemployees of ths government, or Individuals. ly, by lease with private act several that of Under ths authority leases have been granted upon the Cali- fornia petroleum reserve, where because of private title which had vested prior the oil to the creation of the reserves, deemed was being extracted, and It was govern-men- t, to the In order protect advisable, that the leases should be granted. - Development Sought. I jetiv. atockscioeed at the day's highest i.lerrf (Tfitl A Transactions in the bond market were L.1 value or the ora is said to be showon a similarly large scale, with ths up ward movement quife as marked, for-- i ing a gratifying increase and Indications government bonds. whioh went into QtjRZ,Vt of ore are toeing mined new -- high- groandfor they ear. covered and sloping aa varied an assortment eg the Argen- dally by combined sinking operations According to present calcutine 7 per cents, the connect should this lations shaft 3s, the United IM of U37, the the heading from the Phelan tunnel with at a .... Kingdom Mexican ta and the of approximately 745 feet, Raises dpth I to ' ore are the .V. up body being put through two ecors domeatto com- - tha rhyolite foot wall of the lode at UpwJ; went above their previous I tervais 150 feet In that Hat railway secur- - Bond of conditions' for the last two weeks high prices iUee conspicuous, although railway- I haVn made impractical hauling of con shares had hung back hi tha stock mar- centrate to Oakley. Idaho, n distance ket. To a market which recalled the of twenty-si- x mUes from the mine, which mysterious weakness of tha various Chi-- 1- u In Boxelder county. It U believed that cago, Milwaukee and 6L Paul bonds dur- I by tha middla of May, If weather condi Ing the autumn, when the general mar- - thma are not out of the ordinary, the ket wag advancing, one of the Interesting road wlU be open. Until that time con facta about today's movement wag that I centratea are being stored at the mill, of all of securities that group nearly went above their highest prices of 1821. The weeks changes, as Indicated by comparison of Saturday's final prices with those of the week .before, were on the whole more striking in bonds than In stocks The week brought many net ad vancea of two to four points in prices of active share, but the number of Investment bonds which have risen two to With five points la much the larger. Liberty bonds, tha comparison la remarkable. Although few of them dose today at the weeks highest, the net changes of to IVh ptolnts. the week range from Even from the low prloe of the present year the advanceS has in moat of them and i per cent. ranged between anc Foreign exchange moved only fraction ally; probably the European holiday in- l H-- . a gs. 'on the avenue within walikng distance. - . - Four-roo- n r- 2 Five downstairi ahil one room hpT Thin house baa been held at $4500 and i now reduced to 3150. -- A- payment, of- - $500 -- will- haadlef Casy -- r terms for quick sale. - -- room $500 Down Terms H-- T 4ucedfroirf500..Six:roonLinoJ,,ptt $3150 - ' , K V V v, a Xc v, - V ; 4 xy VaAVf inn, Czeaho-Bkvakl- y, we 1 -- In the Teapot dome there are no pro reported, duclng wells. It was recently, oil Inter- however, that various private with the sets bars been negotiating the depart' department and with navy ment-o- f the interior, the secretary of which, by ordar of ths president, now baa authority over the naval reserves, with business, but the market Mos for losses upon the Teapot dome. The terfered act provides a minimum held firm. general leasing lands all cent upon " royalty of 12 per W YORK CPU. In Buying' Is developed under this authority, but (An Reported by J, A Hofle A Ce.) the Salt Creek field the royalties here-asas high hay been tofors charge 13 - peg cent, and a similar royalty Is Wyoming being charged by the state of on school lands In ths Balt Creek field, A portion of these royalties by the terme By CHARLES D. MICHAELS. - of the leasfng act, is reserved for the CHICAGO, April la.Heavy buying of time. the present use of the atate wheat credited to foreign and eastern There Is no provision of ths law govern-on account and short covering carried prices ing royal tiea that may be charged the naval reserves, and no provision for up rapidly. The close was at net gains etate. of the the protection of lflPt16c, with May leading. Coarse ITAJTDARD OIL STOCKS. grains derived the greater part of their strength from wheat, corn gaining 1(46 (g Reported by 1. A Hotta A Co.) Bid. 14c and oats Aked. Rye was up 244c Trade in provirions waa light, with lard 1 1S , , $350 Down -$25 a month Belas Completed. 1 seres of land and. the minimum oil content has been estimated to be 30,000,000 barrels the This tract was exempted from was provisions of the leasing act and itwould that assumed years many generally probably elapse before any attempt w or 000 -- d two-ho- . modern frame ' home, with aleeping porch. Cemented basement and with up to date built-ifeatures. Located just toff paved street within easy walking distance of downtown.- - $2650,r:: .( nt "Ths saibe reasons, therefore, prompted congress to provide for the die, trtbutkm of tha royalties under the leas, - Ing act. should now operate. to the same effect as regards the Teapot dome naval as the petroleum reserve No. 3,oil-known and gas re- Teapot dome It U an - serve ln Wyomlng lmmedlstely adjolnln ths famous Balt Creek pool. Government regard experts an oil men universally It as one of the best oil structures - Sr . Just A Real Sacrifice Sale. The owner of this home has been out of work for five months and His creditors are npon him, and , jily must sell. ha put a price on his equity that is a Bed brick, bungnlow-,-. Four large rooms. Plumbing fixtures in bathroom all in first-clas- s condition. Buffet kitchen, large cement basement. Big lot, with black loam soil. New public school within one-hablock; lot all in tea days.- - Bee this at oneelf you want a good bargain. $2050 $1050 cash Two years on" Balance S-2- $11,900 lf Pklatial Residence, Located near the tmiveraity- Eight-roomodern home, built two years ago condition. Rooms are large and in first-clas- s and well arranged. Located on. a largo lot, with . Terns H-- 3 beautiful view in Federal Heights. ' Prices Open Higher Keep on Upgrade of Day; Heavy. I- (Etoigp tfrilnxujj at 4- 46o- Anglo Borse-Scrysi- ...aa .... "Ruokef m ... .... CKPt .... f imihorlaad .... ... Eure com .... i Chdeolhoafk dk pfd Coat tar nut Cob-s- 4r ew Pfd Illinois Pips ... . ladien Pip NatlruSI Trsaolt K t.Tmnelt Northern Pipe toll Ohio Initv Pet Pros Ilex Prairie Oil , now- do- 20 28 570 287 50 80 .... 16 580 28 8 ft 100 ...... - r UTYhlY .... ... 186 66 96 675 620 555 510 82 175 84 425 115 28 sm ... Waabtngtoa 107 182 S O Nebrneka g O NewYerk 0 8 Ohio .... do pfd Swan A finch Vicuna 177 285 ! Pipe ,. Holer Refg .... South Pipe . . . South Pena Oil O Penn S O Indians .. S O Kanenn ... S O Kentucky . - T 81 105 8H 180 Boone -- 5 - 86 " 80 106 STEEL SITE INVESTIGATION, v to Tbt Tribune. April 16. iP, I Byron, ch&trr. man of the' steel committee of the Delta Commercial club, gives out the Information that the claims of Millard county -a proposed site for A steel manufacturing center will be Investigated- - toy the Rajns Interests about April 20 or 21, Inter Pet Llvlnffttoa Pet Merareib OU .. Merrlt Uldweat Ref ... do com Kwrthweet , Omar Ponnock ... Prod A Ref sen e Rven Tone . Belt CroelrPvod 8imma . . 6ft gc; IS 15 8 10 3 1 -- I IlS 4H . br tllrar, 23 21 0 2(4 2(4 U e 1925 Tet Verde Ext Rostov 99 ..73- " (large) "Jap 6s, 1947 Norway tba, Bao Raulo 6a, Sao Ihuiio 6 bao Paulo Sst J ders) i , 1961 corru close. 95 .lot 63H Complete Information on Inquiry, J. A.II0GLE &C0. Salt Liki City - Ooddfr $2650 $350 down a month $25 S-1- $3000 well-bui- H-54- bath upstairs and three good, big living rooms and a sleeping porch downstairs.' The lot is 68x110 feet and is one-ha.block from paved Second South and Ninth East. If you have home in this fine school i need of a good district jou should see this at once. $500 down $25 a Month' lf : H-- 4 Five Rooms and Sleeping Porch, Near Gilmer Park, Porch and foundation of Utah granite masonry, tipper walls Substantial payment ' brick. Built from the very finest material and complete in every detail. Front rooms finished down, easy terms on in gumwood, oak floors, beautifully decorated balance. throughout. French doors between dining room and hving room and between back bedroom and - Ful- l- concrete basement, hot sleeping 7 water furnace, coal room, drain connected with sewer, ail assessments paid. Lot is planted to lawn, flowers and fruit trees. Shades, linoleum and laundry stove go with the home- - Let us show you this home. Courteous salesmen will be at your service if you call Wa 686. - ?his is one of those exceptionally 'cottages, with three fine - bedrooms and . A Distinctive Modem Homo. $5750 six-roo- , f A Do You Own a Vacant Lot? Put Tour Boys to Work. Here $3700 is a place which will keep you and your boys busy during you f acres of choice' spsre time. Two and garden and fruit land. Plenty of irrigation water. On Eleventh East near Thirty-thirSouth. An ideal frame bungalow, with three large rooms. -Has fine sleeping porch and basement. - Ths houss is well- - built Borne fruit trees and good chicken coops. Buy this place, work hard and in three yean it will keep you. -- one-nai- $700 down $35 a month 2 y2 acres We hav$ a number of fine homes the owners are willing to accept first payment. Turn your lot into the very home you are looking for ' in and ask about it. d -- Reduced from $3900 S-1- listed for sale on which your building, lot' as a a home. It may be that is among this list. Come ' Come in or Phone Wasatch 686 METAL MARKETS. NEW YORK, April 15. Tha coal strike was ths principal factor in the steel market tMs week, as ths inroads made by the union in the nonunion fields threatened to very seriously affect the supply of fuel. Consequently the entire market was very nervous and unsettled, although demand Increased in volume and prices were firmer ail around. Producers, however, are showing hesitation about booking orders ahead, on account of the uncertainty of the situation, and In aome cases have withdrawn from the market entirely and are confining operations to old orders. The pig iron market- - was a1o influenced by the coal strike and prices were higher, with a few furnaces already .blown out on account of the fuel Jess was firm. but While active, Copper the larger domestic consumers are believed to have bought very little since nrtoes advanced above the 134o level for electrolytic, the market has be?n very well maintained, with producers showing no lack of confidence in the outlook. Evidently sellers have found encouragement in reports of improving general burinena conditions and tha strength of security markets, while a mors hopeful view of export prospect fiaa been promoted by firmness In London and the possibility of stimulating developments ,t the Genoa conference. Tin hae ehown further strength, following the sharp rise In London. Increased offering were encountered at the higher level, however, earning mod erate netbacks. Lead was marked up to 6c by the (3 1140 leading producers and was held still -- L5i Angela Pocatettg 2.0314. rLAXSKED. IS. rtniMed, April i v '(M3 ILainidl EfleiosffiisiinitJs 54 30. MAIN 'SALT higher by some of the outside Interests. Demand is broad, with April Still sold up end May booking, ahead of the previous montb.- Zlnc, while firm and still quit, active, aith a fair foreign Inquiry, showed some glowing down from the recent large business. Antimony is firm, although consumers have apparently supplied their wanta for the present. i. DIVIDEND HELD UP. MINNEAPOLIS, April lS.The board of directors of the Minneapolis, St. Paul Ste Marie Railroad company were Vest rained today from paying a proposed t-semiannual dividend of I to and common stockholders preferred istwo orders restraining sued by Judge Wilbur 7. s Booth of the -- V v . , A Neat Frama Bungalow. This is a new home. Has. four fine rooms, a sleeping porchbathroom and basement. Is modern and . very, well constructed. Why pay rent when such a home as this can be purchased on payments of only $25 a month! LAKE CITY eltu-etion- - .7214 (govt, guaranteed) 14 B.porrad By J. A. Uogl. A Ce.) Rid. lArtnd. . ..66 Newfoundland 6 Ha Grand Trunk Pa . 3s, IN . 27(4 ..a.76H ....67 (gull 14 14 7--18 .33 1904 1949 1967 1936 2 :J44 el 4 4 4 A . (govt guaranteed).. - ao 2t(4 We have specialized In carefiiliy selected foreign government bonds since their.rlae began over a year This class of securities now jhgo. occupies a leading place In the bond market. Considering safety, marketability and yield., the folare the beat: among lowing Argentine Govt. Ss, 1347...7S ? Buenos Aires fis, 1915 2 (small pieces) Us f Can. Natl. -- Can. Nor. 6a, Co Cu! si (4 44 . tiiMei FOREIGN GOVERNMENT BONDS 4k f n66 It doCoe (A 5 2 S 12 Nlpteelng Rny Here . ... Ra 144 1i do new Un 0 0 1146 .e.b.ee Dundee a Herla Holllnfer . .... Howe Bound . . Kerr Lake ... . 2 ,5 .... ..... .. 190 4 26 14 MeM a -- 4 SR 1 ee a 13 i 155 23 Boeton-MoaUn- n Cop kfotber Led 104 1 180 Big Ledge , Mjprma ti 1H Caledonia . ... Cal Jerome ... Caned Copper Cone Cop . Creeeon . 4 4(4 .... ...... -- BAR SILVER. YORK, April J5 Fonlra llnxlraa dollar. Mi4c. ..... ..... ...... oeden . Dominion OU Klk Baaln , Pederat Oil Glen rock Mlttee 117 fcpecta! v 'SSKW Oil Cnrib Byn 209 1(4 2114 60 Bmellry-D- IT P0 104 ar 21 Allied All .... Alien Oil Atl Pete ....... Boetoa Wye ... 106 l ..... Prairie 185 eo Oil 10 52 110 104 ( an r t and short riba 302?(4c higher. Congestion has become quiteapparent in May and July wheat. Prices were on the upgrade a good part of the week and with ieni pressure than recently wheat gained 646104c, as compared with a seek ago. At no time were corn and oata lower than the close of the previous week, corn gaining 2(43He and oats while rye waa up 664e. Pro14614c, visions were- - unsettled, with lard 15c and short ribs 7416c lower for the week. A material change has occurred In the wheat market. Prices opened higher and kept on 'the upgrade a good part of the day, with houses with eastern connections good buyers of both May and July. Part ofthat was attributed to foreign account The report that Russia had agreed to pay Its old debts was believed tiNhave been the main factor in inducing the buying. There also was free buying of May and selling of July to close spreads and the difference widened to over ltc, against 10c early in the wfeek. Foreign market, were cloned on - account of the Easter holidays but reports from ther. regarding crops were somewhat more bullish. Milling demand here continues alow and 25,000 bushels were bought at Omaha to come to Chicago. Crop report from ths southwest show no change, with western Kansas ganerally claimed to he in poor , shape. wheat was mainly respon Strength-i- n sibla for the strong upturn In corn and oats, and commission houses were also good buyers of corn, although there waa little change In the cash situation. Domestic and easern demand was slow, with no prospect of an increase in the movela commencing to ment, -- and the trade show apprehension - over tha extensive floods In Illinois and other states which may affect tha total Acreage under feed grains. Action of wheat had aome effect on rye, and, while trade waa not large, prices advanced readily. Little was heard regarding 'export demand. 7i412(4o 8 16 7 it pld.e.e.A. "li S07H d 150 84 150 m . e Cities Bervlce com do pfd naan.,.. do bkn 11 50 100 100 180 104 8 Ship Corps . I 190 109 840 84 840 ...... n pfd 870 66 - V. per-cen- United States district court in Minneapolis A hearing of thh order will be held in federal court next Saturday. .THORNE AFTER 8ENATORSHIP. CHICAGO. April 15 (By the Associated Press) Clifford Thorne, general counsel for the American Farm Bureau federation, today formally announced hts candidacy for the Republican nomination for united States senator from Iowa. He simultaneously tendered his resignation to the farm bureau federation. ( NEGRO DECLARED INSANE. ARKANSAS CITT, Kan.. April 16. George Jackson, negro, of this city, was a commission Itere adjudged nsane-Oy today, aa be la suffering from the ttoe hallucination that Kuklux Klan is walohlng him and is going to get him. -i- r BRICK BUILDING FOR RENT Located on State Street, 60x160 feet, suitable for salesrooms or garage. Will let to $200 per month. N.' M. LONG COMPANY . 753 .Soutk State Street right party a$ , , , |