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Show I THE SALT LAKE" TRIBUNE, TUESDAY MORNING, SEPTEMBER 26, 1922. METALS. Oayyer, spet aid later Faraigit ailvar Lead (la Dig Tut) It. basis palter vary apot) f Silver (is Londaa) (Irt of Touches New High; Demand for Zinc Unusually. Strong. Price ; 14s ttha de-1-1 ,.$S.U$S.IT ,,,$6.SS06I6 ...... .MSI Meta II SPECIALTIES I Advance" of the local settlement price $6.33 Is one of the most Inspiring events to occur for several years as related to the mining Industry. Lead mines, which have been operating upon a small margin of profit for months, are now suddenly confronted with an outlook unusual in Its F.aetern metal men report thatpromise. thA pronounced stringency of lead WMicpiies has developed Into an actual "corner. Prices are skyrocketing and buying activity is feverish. The Financial Heview, one of the meet conservatives of eastern papers, says that there Is not enough lead on hand to satisfy all demands at present, even though producers are operating at full capacity and turning out maximum production As foreign resources are also depleted, all indications point to a sustained and extensive Upward price movement. lmilmtiy, the shortage In lead supplies is throwing Increasing business Into the xinc marked' as the latter metal can be used as a substitute. Available stocks of tkis metal are seriously depleted from the coal end rail strikes, which have curtailed smelter operations in the east. Advance of line to 7f&7.03 cents a pound last week, with heavy sales, marks the fifth increase In three weeks, as well as the highest quotation lot1 the metal in over two years. Concerning the sharp stiffening In the price of the melal, the Boston Nows Bureau says. Kino men have been fearing a shortage of the metal and on the first of tiijls6 month surplus Blocks in this (Ountrty were equivalent to only two weeksj. supply, or about 20.0(H) tons, stocks last summer of about 9u,(HH) against tons. Production has been restricted In the past year by labor shortage. Tho xlnc are the (Snips are as bhort of men (OPier camps. I nderground mining has become Increasingly dlatastefui; miners have emigrated to the oil fields and the great automobile centers of the middlo west. The 3 per cent itnmigt ation restrie. haa greatly curtailed tho entry of foreigners of the underground type. The Bole, the Lithuanian and the Him used to be the backbone of our mining labor fer lead to Tintic Standard Makes a Sharp Advance; Michi h Much Improved gan-Uta- Wrong demand for a group of oelectsd specialties prevailed on the Bait Lake Ktcxk and Mining exchange yesterday. An excellent advance was ecored lay Tintic Standard. Mlchlgan-Utawhile It fluctuated between a high of He and a low of le, showed considerable Improvement Kiu'eka I.liy, one of the Inst year's Acquwas isitions of the Chief Consolidated, active and aggressive around 7c. at Tintic .Standard, after opening $2 17'-,- . advanced steadily to a close of with a total of ltiM) aharea sold. Ti uding In Silver King coalition was led to the sale of an odd lot of twenty shares at 12 30. Bon King suffered a rather material set tack. Trading In the Tlntlo stock opened at 17 lye, from which Price the do line was steady to a cios of 15c as a result of dealing in about 7000 shares. Iron Blossom was firm at 29c. Quota tions follow: 1 i tsTrn stocks. . lthl. lAak-- f. supply. Notwithstanding galvanizers have been herd hit by the coal shortage, they are still buying increasing tonnages of sine. In the first eight months of this year consumption of alnc for all purposes amounted to 2ti2.R42 tons, or an average of 32,818 tons per month. Product hm amounted to 21t,ntj3 tons, or onlv 27.183 tons per month. In short, production has leen helow consumption In these eight months to the tune of over 3000 tons jer month. Although otir domestic market has consumed all the foreign ofBvrlnea of a me in the past year, the new tariff virtually puts a stop to alnc imports. I'ndcr the 1 hill a customs cents levy of per pound Is provided, sgslnst the present duty of lS'per cent ad valorem. This of a cent higher puts th lno schedule h Mil and than the old means that the Ameruan market la oiownl to the foreign producer. Fayne-Aldrlc- Conditions in Alta Tunnel Mine Show Improvement . Tlie Alta Tunnel, in Big Cottonwood district, apparently, according to a received at the local offices yesterday. has opened a new resource In, the beck of Its big slope. At the foot of I he stops near the No. 3 raise the percolating water last July brought down n HJtle of the hanging wall and with it s few specimens of ore. It was determined to find out whether the ore was merely a finger reaching up from the main bedding or something more Imporrt tant. Tnis week the superintendent pul In a ladder and went to work with a pick The ore. he found, lay in a streak At first it was narrow, but it soon widened which out. revealing a promising deposit has already yielded six mine cars of ore. N lew ore has also been found in the Christmas raise above the main bedding The bedding lte! Is thicker than it was last week Th lead values are picking tip, but the eu r content Ja much below normal. A change is appearing In the drlf north from No. 3 raise and the miners 1'tHh Ton Thief .. expect soon to come on top of the black Union Ictor vn lime through which thev have bwn driv- Went . Toledo 31 ing for sixty or seventv feet. Lot Walker Mining wag settled this week and kt 32 will be Woodlawn closed In a few das, according to the Yankee Con ... management. Y.vima i a. .01 .0,3 , . . . 4 4. no .01 . 6Ih1 to Th Tribune, are that the Nevada Reports from-Elcamp la In s very prosperous condition. The new milling plant of the Nevada Consolidated Copper company at McGill Is being rapidly constructed. On September It two mills capable of treating 950 tons Were completed In accordance with th companys schedule. Two more Will be added. It Is said, every two or thres weeks until ten un.ts In all are Installed. Hodn after the first oMlic year the new milling plant will have capacity adequate for the needs of the company. As the Xiemand for" copper Increasea plans of the company are to increase the capacity so that 15,000 tons caii he treated dally. According to reports, more miners have recently been available for employment. At present from 4iH) to 60o men are working at Ruth and more men are goto work It is believed every day. ing that companies from now on will be able to secure the number of minors necessary to extend operations In keeping with present plans. where the Consolidated Kimberley, Coppermlnes company has resumed operations, is daily, taking on new life. Latest reports from the Klv dlatrlct are to the effect that 103 men are on the payroll of the Coppermlnes company. Cleaning out and rellmberlng of the Minnesota shaft, not used for tho last twelve years, has been started. The gal lows frame for the new shaft which Is to bs sunk on the Minnesota claim has been Installed. In a few days silking operations will lie- under way. The company lx evidently going . to work bn an extensive scale. As new workings are opened up the crew wdll have to he Increased so that by the first of January it is expected That several hundred men will be employed at Kimberly and that by next spring the Consolidated Coppermlnes company will lie operating as It was when it c,osed down more than two vears ago. Klnce that time the Nevada Consolidated Copper company has discovered and devehqied a laige body of high grade direct smelt'ng ore In the ltuth mine. This ore body lias been worked close to the line of the Minnesota claim, and It la confidently expected that the Copper-mine- s company will encounter this high grade copper ore In the proposed workclaim. ings in the M'.mip.-otAs this discovery haa opened up new and unexpected possibilities for both companies, developments will be watched with inteiest. .or .01 4.25 .OS .04 .06 OPENING SALES. rolnmhu Retail, iflno at 19c; ISO at 194f. at Unirna, j Krtat Tintic Coal . 4hWI at Vc Eureka Lilly. 210 nt tie; 1000 at 64c. Iron King, 5K at 174e; 500 at WO MEW TORE CURB MARKET. NEW YORK, Svpt. 2.V Tmnsartion Nw llow: York curb market I toda; on tb fo- were aa MM 9TRIAL9. I'c l4c; BINGHAM, Sep. 25. -- The Huh Corv-p- r at tdc nt 10c; 400 at IV; 500 company has thirteen steam nlunpls Michigan I tab. flt work am la Khipivnsr bn an averatte at Silver King Cm., 200 at 33c; 800 at Me. of 17. 40 ton of ore daily to the mill Tintic Standard, Sa at $2,174; 600 at $2 20. t Garfield. Unskilled labor is sMIl difficult to (LOSING PALER. and 300 men could secure employColumbus Reisll, 500 at Ific. ment at this time at once. Kant Tintic foal , 7.Vm at Ur Underground mines report skilled labor Lilly. loo at 64; jono at 7Vc; 1000 more plentiful, as manv men are return- at Eureka 7c. ing here from the coal mines. Iron RI'Hwom. TOO at V. Iron King. Haa) nf 134c. 2300 at IV. KETAL MARKET. Michigan I tnh IMft at 14c; 1500 at 144c, NEW YORK, Sept 23 Topper, dull; elec 33' at IV; 500 at 134c New Quincy. 2toO at 24 trelrtle spot and future I4 at 1042Vk at 9e. Tie, firm fcpt and futures. $32 62 Prince, B'Wer King foal., 2 at $2.50. northern. $.13 oOdfSI 60; Iron, Stead r; No. 9 & 2 northern. $32.0utgJ4 00; No. 2 southern, f 25 .ODfij 27.00. 8 37 I.eaU, firm; tmof, $ 2 R me. firm; Kast Kt I.oum spot nnd near by delivery. Antimony spot, Pihcc King Ton., UlO at JWc, Tintic Standard, 500 at $2 224; 700 at $2 Mil higan Utah, ftoo at t5c. POTATO MARKET. tldficld DHtrlct 5, Potatoes nenker on Ilcoih Sept, .... s white stock, fairly ateadjr mn Earle Chios; Mine 12 cam: total United States tddp ( omb PI! Fraction meota. 1402; northern Backed and hulk white. ,, !air fon ft.00fcl15 cwt.; Minnesota racked RamCand (soldfichl Lari? Ohio. !.00il 15 cwt.: Minnesota sacked Kewana Red River Ohio. $l.05fcl.J0 rwt. Jumbo Fit i. !yne Star : ........ CHICAGO, Oro Siher Greet Rend Krudall PnndKtorm fomto k District (on V The August production of this Co. was the largest in Its history, the average cdst per pound being 6.35c exclusive of depreciation and tax reserve. The Co. is said to have about 16.000,000 In cash, bonds and unsold copper. Information - If you wish a report on the condition of any Co. or its securities, consult our Statistical Department. It embraces every phase of finance and our services are freely at your disposal. f.A.HOGLE&CO. Sait Lake City Ogden Lss Angeles Pocatello Norcroaa Mali A Mexican Ophir .IS .10 .... ".u .16 Union Ton o pah Dlatrlct Belmont fah Roy , Rtcue Enla Tnopu l Cxt Veat End . Nevada Hill! Hound WeMf Divide Mtn ...... Tonopah 1.73 ... .09 .07 .17 .11 .06 .OS .12 .OS .00 .19 5.50 1.06 9.70 1.10 .01 .25 .27 .OS .09 .76 Eureka Croeaua, .. Smou fyCad Goldfield Dor . . . IL. .24 .30 .11 .09 .S3 .26 .89 .12 the best coal mined in Utah. Its popularity is increasing daily. We handle all the better grades of coal. , ,26 Sugar Co. 7 First Mortgage Bonds 1 July July 1, July 1, July July July July July To Take the Place of Strikers 1, 926 1, 1927 1, 1928 1, 1926 1, 1930 UNITED STATES RAILROAD LABOR BOARD Wfli Be Paid a Follow: Price, according to maturity, to yield from Machinists, Blacksmiths, Boiler Makers, 7 to 714 EVAPORATED FRUITS. NEW TORE, Sept. 23. Evaporated apples, LONDON. Sept, topper, apot, arantsaL Prunes, wsitin ; C.llfomtss, SVitt 63 7a 6d; future, 63 17a 6d IetrolyUc, Ike: Oregon s, 121e. Apricots, essy; choice, 7l 10a. 71; future, pot, extra choice, IMtSIc; fency, 27 ft '.agate; 161 12 to; future Tift apot, 162 17 2Se, Peschee, quiet; choice, ISHStUHc: exto. tra rlyttce. It ti ft 13 (4 c ; fancy, 1 tl S ft 1 V. 23 17a to; futnrea, 23 70. Lead, apot Ralstna, firm; loose muscatels, isftl.v--; choice 32 7a to; futurea, 92 2 We t fancy seeded, 12Hft 13c; seedless, 11 V4 ft 22c. Zinc, apot, COFFEE .T Pibe Line Combanu ' Price to yield over 5.40 Circular on request Tbs Rational City Ccnyaiy New York Belt Lake City Bank Bldg. Telephone Wasatch (196 M2 Deseret 1 STANDARD WAGES WITH SENIORITY RIGHT DATING FROM TIME OP EMPLOYMENT AS PRESCRIBED BY THE Liberty Bonds Bought and .Bold at Market Prices; lf 'f Qualified Railroad Mechanics (Includes several $300 bends) Sinclair one-ha- of King Coal m for 1924 1923 Walker Bank Building Phone Wasatch 3888 Gold Bonds Due 1942 Based on the price at which the Standard Oil Company of Indiana will purchase, a Interest In this Company, the capital stock represents an equity of more than $32,000,000 over . and above these Bonds. "Home STEADY JOBS ,1923 PAlAiER Bond Mortgage Co. 5 69, The Denver & Rio Grande Western Railroad System There Is an active and growing demand for bonds of this Tbs following maturiissue. ties sre offered subject to prior sals: Trading Department. Twenty Year Sinking Fund SaMAlN-WiSArai2667-2666-26- Utah-Idah- o , CQrTEE XAEXETw NEW YORK. 9pt. 5. Tbe firmer Bhowln of Brasil led to oooie covering at the opening of the market for coffee future here today and fleet price were 3 point tower to 6 point the 2 to 9 tale from rangmgr early higher, above last week' rkwuitjr quotation. point There wae verjr Uttle demand, however, au1 December contracts caned off from 9.33c to 9.26c after the earl buying order bad been ruppUed, clotof at that figure. The general net closed 9 market point higher to 6 point Rale were eHrated at about 21. lower. 00 bag. October. 6 Up: December, 0 26; January. 9.27e; March, G.29c; May, 9 2e; July. 9.22c. coffee, steady; Bio 7. 104e; Santo Spot 4a 15c to 15 Vc. Co Western Fuel H'FTemstromMgr. m rniCAOO fowl, sells itself, because it is . .OS 1.00 .00 .IS POULTRY. Sept. 23. Poultry, ally. Usher; tsetse: springs, 2te; rooaten, lSe. We only have to sell KINGCOALonce to a customer; after that it 0. MICHAELS. CHICAGO, Sept. 2;.- - More peaceful news from the Near East was reflected in a sharp break In grain prices. While the finish was on a rally due to short cover ing, wheat closed l&2o lower. Coarse grain showed stubborn resistance to pressure and rallied with wheat, corn clostng e lower on September and unchanged to He higher on the deferred while oata were unchanged to deliveries, He lower. Rye finished 1 H & 3 H o lower. At the Inside price today wheat here was off 2H2Hc from Saturday's finish, and 8H&Hc under the high of last week. General selling was in evidence from the start with liquidation by local and outside longs and also persistent selling by houses with northwestern eonnectiona partly representing spreading between this market and Winnipeg. Tho latter showed pronounced weakness with hedging sales in October and December a factor. Winnipeg December dropped to around lOo Under Chicago, the greatest difference so far, and the close there was 2H 29c lower. The most effective support wae froyn houses that were the beet sellers on last week's bulge. Liverpool closed lHd lower, a decrease of 600.1)00 bushels on ocean passage offsetting to some extent the better political new. Export demand was only fair. Receipts 116 cars. Hedging sales of September oorn against purchases In the sample market had a depressing effect on that delivery, but the undertone In the deferred deliveries was firm the greater part of the day. The early selling was In sympathy with wheat, but waa quickly absorbed and many of the local traders were on the bull side. Re celpts of 752 cars sold readily with the basis about unchanged as compared with September. September oats had a range of le and fluctuated rapidly on light trading. Deferred deliveries In the main reflected the action of other grains, although closing on a rally in sympathy with the September. A moderate decrease In the visible has little effect. Cash demand fairly good with 50,006 bushels sold to exporters. Receipts 189 cars. Houses with northwestern connections were on the selling side of rye. and with support mainly of a local character, the finish was about the bottom. The two northwestern markets received 214 cars. .16 .07 .07 .15 .00 .04 ty By CHARLES .07 .14 .no .o .06 .36 "or .05 vneen Jim Rulcr Halifax Mid war lnt Pitta Evt MacNamara North Star .OR .05 .00 .10 .02 .10 ... day-to-d- OIL TRICES ADTAKCZ. " NEW TOHK. Sept. 23. The gtndrd Oil company of New York today advanced the price of keroeene In New York tnd New1 M a cent a fallen. The new price cent $ .Ofl .03 .09 .05 .04 .03 Sntage Sierra Nevada Gyp .04 .01 .01 .15 .07 .04 .07 .00 .os .15 .07 .15 .04 .03 .0 frackcriar Chile Copper Co. Reports Con P1 $ .01 .OS Manhfatt Dlatrlct Mnnhattnn fon Wiuic ftps Unnidma ........ . . , , Sparhefld Gold .... NEWS ITEM 25 BAN FRANCISCO MINING STOCKS. (At Reported by J. A. Hnyl tk CM.) Bid. Aftked. $7 Ort. NEW YORK. Sept. K. Whether the changing phases of the controversy between Turkey and the entente allies, and between tho allies themselves over the terms of compromise with Turkey, are or are not the present governing Influence on financial sentiment, the movement on the surface of tho markets apparently responds to news from that strange negotiation. It could hardly be otherwise, when the buying or selling under which the markets fluctuate comes almost wholly from professional speculators. A year ago the attitude was the same; all that could be Inferred from the action of the financial markets was that the public at large would neither sell when prices were then forced down by professional operators, nor buy yvhen prices were bid up. From this position there was practically no change until the rise of the foreign exchanges, the fall In money rates and the subsequent notable broadening of the market for Investment bonds gave a new color to the financial situation. The probability is that the character of this coming season's events In all of these directions will determine the general attitude of the financial public. As jet, with the possible exception of foreign exchange, the tendency is not plain In any of them, and even the weakness of foreign exchange compared with a year ago Is commonly asoribed to the larger magnitude of the necessary autumn purchases of our grain and cotton by Europe. The trend of today's stock market was upward from the start and most Stocks closed around the best prices of the day. Hut the advance was fractional asj a rule, gains of a point or more were ot very numerous and there were tome declines. The agreement on the concessions to be granted to the Turkish government doubtless had a hand in the recovery; not. however, to the extent of Even causing anything like enthueiasm. the French republic bonds, which ad14 In 14 to the vanced early trading, ended practically at last week's final prices and the United Kingdom bonds iosed slightly lower. There was no of movement In the prices of government loans at London and Faris; they advanced in the one market and declined in the other. United States government bonds ended a small fraction lower. Since those bonds are selling now for less than their ruling prices before the soldiers' bonue bill was disposed of, it is pretty well proved, not only that the defeat of that measure had been fully anticipated, but that the actual restraining influence on the market Is the impending announcement of the treasury's plans to refund the maturing Victory loan and other short term debt. Foreign exchange rates moved in as purposeless a manner as security prices. Practically all the European exchanges advanced in the early hours of busiunchanged ness, but ended practically from Saturday. Among the numerous movements of more or less conflicting the day the cotton market, whose last week was popularly ascribed declined to the "near eaetern crisis, again today, notwithstanding the turn for the better in that matter; whereas, the wheat market, which advanced last week on the war talk, declined today and wae declared to be declining because the crisis was past. All this probably Illustrates the extent to which political influences are overrated. Neverthelesa, with the actual forces which determine the balance between supply and demand so particularly obscure in all the markets, we shall doubtless continue to hear of politics as the cause of higher or lower prices. de-li- ob-t,t- No. tfrfhcu. i&fcr JJjOrxfc y tn Utah Copper Company Working Thirteen Shovels Units of New Nevada Con Trend of Prices Generally solidated .Are Being Upward; Foreign Ex Installed on Schedule. change Fluctuates Little. Pipe Fitters, Tinners, Sheet Metal Workers, Car Repairers, Machinists' Helpers, Round House Sendee Men, , Coach Cleaners, Apprentices, Differentials of S cents per hour over the foregoing rates ar paid to mechanical craftsmen on night shifts, and differentials of 5 cents to 10 cents per hour in excess of the foregoing rates are paid to highly skilled positftms in the mechanical crafts. ' Overtime at Time and s One-hal- f. Applicants for work should apply at the office of the Superintendent of Motive Power, Shop Superintendent, Master Mechanic or Shop Foreman at g ALT LAKE CITY. UTAH,, PAVING DISTRICT 6 Denver, Bumhaiii, Pueblo, Salida, Minturn, Grand BONDS,. Junction, Montrose, Ridgway, Gunnison, Alamofedall from Income exempt sa, Chama, Salt Lake City, Ogden or pny Local eral income taxes. Agent. Tree Booklet on Bequest JOSEPH H. YOUNG, v ilQSS BEASON B CO. Receiver t - , eCU&tTTt alt Felt Building. N ciry ' Wsutcb x $043. The Denver & Rio Grande Western Railroad System - |