Show THE SALT LAKE TRIBUNE SUNDAY MORNING FEBRUARY COAL LEADERS SILVER MINES MAKE CUT IN PRODUCTION SEE PROGRESS Year’s Output in Idaho Shows Reduction ceeding Two Million Ounces 13— There This silver came mostly from the' Coeur d’Alene district in northern Idaho which had a production of nearly 7000000 ounces last year in spite of the lower prices for this ' metal The four largest producers in Hhe Coeur d’Alenes the Bunker Hill & Sullivan He'a the Sunshine and Morning mines v’oduce about 90 per cent of the silver of the northern Idaho district The Sunshine property east of Kellogg slightly increased its silver output over the 1930 total and was again the leading silver producer in the state and second in the United States Copper Production Falls Off Idaho copper production decreased from 3110000 pounds in 1930 to slightly over 1300000 pounds in 1931 The value of this metal last year was about of the $109000 or only value of the copper produced in 1930 The Sunshine was also the largest copper producer in the state last year with the Bunker Hill Hecla and Morning properties following Lead production dropped in 1931 to 200000000 pounds from a total of 209000000 the year previous The value was about cut in half last year with the estimate being $7630000 as compared to $13 405000 in 1930 The state maintained its position as second among the states of the United States in lead production Missouri coming first The Bunker Hill Hecla and Morning mines were the largest producers The Page Jack Waite Blackhawk Golconda Sherman-LeaSidney Sunshine Whitedelf and Frisco properties followed Zinc’s Value $1550000 With the lead ore in the Coeur d’Alenes there is considerable zinc This metal production totaled 41000-00pounds in 1931 valued at $1550000 as compared to 75290000 pounds in 1930 valued at $3614 000 The refineries of the Sullivan Mining company at Kellogg recovered about 26 per cent of this zinc while the Anaconda’ and Great Falls refineries recovered the balance The Sullivan company electrolytic zinc plant is one of the newer plants in this country The Morhlng mine produced about 85 per cent of the total zinc of the state Gold production was also down last year The total was $1700000 as compared to $3700000 in 1930 with the Talache mines again leading the list of producers even with its mill being destroyed by forest fires in August New Smokeless Committee - mid-193- Hecla Mining Votes Quarterly Dividend MILWAUKEE Feb 13 (IT) — Directors of the Hecla Mining company have declared the regular quarterly dividend of ten cents payable March 15 to common stock of record Feb- ruary 15 L E llanlev seeietary of Wallace Idaho said the annual report will show 1931 earnings were equal to dividends of 40 cents a share paid during the year GAINS PRAISE Products Ogtlen L Mills Wins Commendation as Successor to Andrew W Mellon Says Progress being made on production of smokeless fuel from Utah coal shows that the new produrt is as easily ignited and burned as raw coal in addition to eliminating smoke members of the research and educational committee of the Utah Coal Producers’ association announced Saturday after inspecting tests made by Lewis C Karrick at the University of Utah school of mines and engi- At a time when the administration is bending every effort to make a success of its recovery program in the battle against depression the appoint ment of Ogden L Mills to succeed Andrew W Mellon as secretary of the United States treasury is regarded by leaders as a wise step Though Mills Is only 48 he has had a wide experience in finance and Educated in the Browmtng politics school of New York and at Harvard university where he completed the four-yea- r course in three he graduated from the Harvard law school In neering Members of the committee who con- ducted the inspection were John R Doohn secretary of the coal produc- ers’ association L R Webber C D Craddock and W C Stark Fuel Tests Made Tests were conducted in the fuels laboratory of the engineering experiment station of the school of mines and engineering on the feasibility of burning raw coal smokelessly with stokers and in household appliances The inspection showed progress being made by Mr Karrick in his work as a government engineer in production of smokeless fuels and the conversion of Utah’s coal Into smokeless fuels oil and gas Mr Karrick announced samples of coal from the principal mines of the state are now being converted into smokeless fuels about 10 plant runs having already been made success- 1907 Mr Mills entered politics as a candidate for congress in 1912 but was defeated by the Bull Moose split Elected to the New York state senate in 1914 he resigned when America entered the World r in 1917 and served with distinction in France After the war Mills resumed his political career where he left off Elected to congress from the Seventeenth district in New York in 1920 he soon won recognition as one of the best Informed men on financial matters In the house of representatives and was appointed to the house ways and means committee In 1926 Mills put up a great fight against the veteran campaigner Alfred E Smith for the governorship of New York but was defeated The following year however he received the appointment as undersecretary of the treasury Next to finance Mr Mills’ abiding passion Is his family and after that comes golf to which game he is incurably addicted fully "The smokeless product can be pro duced in large enough quantities that each coal operator can examine and use the new coal in his own stove fireplace or furnace" Mr Karrick told the committee Heat Increase Shown “The tests made at the university to compare the new fuel with raw coal and metallurgical coke prove that the new product is as easily Ignited and burned as raw coal Tests made at the United States bureau of mines station in Pittsburgh have proven that this smokeless product from Utah coals will give between 10 and 30 per cent more heat Into the home than the raw coal from which it is made” Mr Karrick is a Utah man who has directed seven years of government work on the investigation of coal oil SMELTER MEN SIGN LEASE ON IDAHO MINES Earnings Take Aggregate net earnings of 277 domestic corporations already having reported for the full year 1931 amounted to $400969000 a decline of 485 per cent from the 1930 total says the Standard Statistics company of New York in a current survey part of which follows"The contraction in industrial profits ecpfalcd 53 per cent as compared with a decrease of 58 8 per cent in rail earnings and only 7 per cent for utilities Material relative improvement is not expected in the current quarter although a more favorable level of results should be apparent ” 2 by BELLEVUE Idaho — Agreement of I E Rockwell president of the Minnie Moore Mines company of Bellevue and H A Guess vice president of the Federal Mining and Smelting company of New York to operate the consolidated properties of the Minnie Moore Mines company on a basis for 30 years was completed Saturday The Federal Mining and Smelting company is a subsidiary of the Amerl can Mining and Smelting company Mr Rockwell said and reopening of mines in this district will begin as soon as spring weather permits Mr Rockwell said about 65 men will be employed at first and the force will increase to 100 as soon as needed Officials who will have charge of operations are H B Washburn Moscow general manager of the Federal company for Idaho and former local manager of the American Mining and Smelting company and A E Ring general field engineer for the Federal company at Salt Lake and former superintendent of the North Star mine near Halley Mr Rockwell said the lease will renew operations in the district west of Bellevue which has already produced $13000000 net smelter returns The Minnie Moore and Queen of the Hills will be reestablished as one operating unit It will also include the Penobscot group of mines adjoining which has been held dormant by the Woodruff family of New York for 50 years profit-sharin- shales and hydrocarbons in the Rocky mountain area "Utah people now have the opportunity to Solve completely the smoke of their cities by methods worked but on Utah coals by Utah talent and public tax money" he said "and at the same time develop new revenue in increasing Utah coal production m relief of unemployment ” Miners Federal to Operate Minnie Moore Properties on Share Basis g Plan t CONTINUES DOWNWARD TREND Move to Reduce Gains of the daily variety were reg istered in Saturday’s short trading session on the Salt Lake stock exchange but the upturn was relatively slight and volume was light Chief Consolidated maintained its position at 32 cents on a trade of 5000 shares East Tintic Consolidated attracted attention with a trade at 24 cents the dominant price figure of the week for this issue Big cents New Quincy Hill was at 13 which experienced unloading during the week on the posting of an assessment notice was fractionally stronger Saturday to 3 cents North Lily sold upward to 66 cents during trading of 1100 shares Park City Consolidated stayed at 9 4 cents while Rico Argentine maintained its fractional advance of the week to 4 cents Eighty shares of Silver King Coalition sold at $2 90 and 7000-bha- High j Year Low Week High Week Low 10 17 0! 01 re 10 V 12 01 01 as " B Tintic Standard was improved to $2 85 Walker was at 62 and 60 cents holding up without 'radical price change from the past week despite decision to close the property for more advantageous markets During the week the trend was downward with trading comparatively light and prices depressed Bingham Metals and Rico Argentine were the only Issues to record new highs for the week while the following new lows for the current year were touched by Big Hill at 12 cents Chief Consolidated at 31 cents East Tintic Consolidated at 22 cents Eureka Lily 9 cents New Quincy at 2 cents North Lily at 60 cents Park City Consolidated at 9 cents Park Utah at $115 Plutus at 22 cents Provo at 13 cents Silver King Coalition at $2 85 Tintic Standard at $2 55 and Walker at 60 cents 1- -4 1- LISTED STOCKS Alta Con Alta Merger Alta Tun Am Exploration Am Metal Min Co Annie Launa Sat Bid 00 Jt0 10 Beaver Cop Big Hill Bingham Metali Bonansa Mining Bullion Ice Snow Going 32 03 31 L '0$ Bristol Silver Cardiff Cedar Tall Central Standard Chief Con Colorado Con Combined Metals Creerent Eag Croff Crown Point Dix Butte Dragon 22 01 ' 03 'v 34' 22 02’ a 03 Crown Pt ? at Standard 00 East Tin Con Lust Utah Emerald Emma Silver Empire Mine Eiultv oil Eurekg Bullion Eureka Lilly Eureka Mlnea Great Western Unwell Kennebec Kentucky Utah Ke atone Little May Muanoli Ltftd Miller Hill Mont Bsnilum Morrow Ml Wutei PM Mount mn View Nftlldrl ver Nw Btng Mgry Hew Quiney North Lily "'is' 05 03 67 00 8tnUr4 Ohio Popper Opnhono Park Hmgbgm Park CUy Con Park Kin Park Konold Park Nelson Park Premier Park Utah Plorhe Hr Mol Plumbic Mmet Plutug Pr'nre Con Before 1920 out of every eight women married in England one was a widow In 1929 out of 42316 brides onlv 2189 were widows in Oil Drilling Utah Southern Oil company— Gray- 2 and 4 son Nos Reagan county Texas Froducing 4 1 of Utah Southern Oil company— Gov- 00 ernment n oo 04 3 00 00 Standard 01 “intlc Central intle La4 'Intic Bundard a 70 1 00 a so Walker Mining V- ei Toledo ’165 West Exploration Yankee Con clients who cannot avail of tho facilities of our Salt Lake and Ogden offices can obtain the same seivlce by writing or wiring Out-of-to- them-sclvc- 132 Jkueiu Main St s A IIOGLE & CO Salt Lake Fccirs Bldg Ogden SATURDAY UNLISTED 810CK8 Park Palrvlaw ' Century Con Oold Eureka Standard J 1 Park Galena it Piocht Coalition i Thre Kingfc 1000 at Park City Con Hu o Argentine 60' 0 at 4t 1 Utah Southern Oil ft Iver King Goal 80 at $2 00 I Utah Wyoming Oil Tintic Lead 100 at 80c T ntir aiaiMnrd tOO at 17 75 80 at S3 83 Utah OU Refining a Yankee Mlnea 0Q at 83400 at 60c Wiikey 1 Golden Char War Eagle South TUiUc Mine QUEER ANIMAL PUZZLES Silver Kina WeMern LA SAL Utdh (UP)— For Home Continental (told Pr Lt 7 80 time the jwullar ftnlirs of a strange Utah do 70 colored animal that looked like a Ulah Eire Clay 35 Idaho common doer and yet didn't has puzzled G Utah 8 Amalxaniated pfd W Johnson rancher Johnson shot Z G M I 23 Pan American ll d nd found it was a combination of ?oih Century I goat and mule dccr t 32c Tlnlic Con toco tt ?4c reel P treka Bullion 1000 at 20c New Quincy 2 MM) at 3 sc 1000 at 3c North Lily 300 at 64c 700 at flic 100 Chief Con S000 9c Anchor Coal 3 Garland Pro- Wyo Utah Southern Oil company— Bals-leNo Salt Valley Utah Location center of tie Vi of ne Vi of section 31 township 23 south range 21 east Grand county Utah Standing with lost eight-incbit cemented In hoi in preparation for same from about 5200 feet when operations are resumed Plans for resumption of activities htve not been announced 01 I 06 601 06 00 01 1 00f 00’ 20 07 75 30 35 02 25 19 00 oO 00 01 1 00 05 Oil SLOWS DOWN Nev— Napias Jim the Indian who led white men to the fabulous Bilver deposits at 4 36 40 1 50 12 40 26 85 00 77 00 40 00 to ll 29 00 OS :IS Sales Slip More Thau Treasure Hill and Hamilton will have his memory perpetuated in a suitable monument according to plans made by the Lions club It was he who one bitter winter day agreed to lead two prospectors to where they would find the white metal He didl Silver literally was sticking out of the ground on Treasure Hill which to this day is pockmarked with the huge shallow holes where men worked like beavers in extracting surface ore Millions were taken from near the top very little ever was found deeper down It is not recorded that old Napias Jim ever profited from the deal any more than the Indian usually did in dealing with white men He later became a noted guide piloting parties of whites to all the mines in the then nearly treilless deserts and mountains “Napias” means “silver" In Shoshone Silver Jiml From One-Fift- h Lagt Year SAN FRANCISCO Feb 13 (JP)— Retail trade of the Pacific slope as pictured in data gathered by the federal reserve bank of San Francisco felt the slowing down of business more keenly during January than ui any preceding month in the long decline figures released today showed Retail sales measured in dollars h slipped down more than from last year’s January levels Prices were probably more influential in the decline than the actual volume of business done Records of these changes were not available but estimates placed the number of items sold nearer to last year’s levels than were the aggregate retail prices in comparison to last year’s total Federal reserve bank figures showed San Francisco and Oakland In a tie for the smallest decline of the large cities of the seven far western states They lost but 147 per cent compared with the dollar sales of January 1931 Other large cities showed the following percentage declines: Los Angeles 24 5 Portland 314 Seattle 31 2 Spokane 198 and Salt Laks City 254 By areas Californis and Arizona lost 20 5 per cent the Pacific northwest 294 Utah and southern Idaho 269 and making the Twelfth district average 22 per cent down Consul Says Returning The Twelfth district’s decline of 22 cent compared with the largCountrymen Will Aid est per previous disparity with the like month of the preceding year amountUnited States ing to 174 per cent in December The nation's average decline also was LOS ANGELES Feb 13 (UP)— 22 per cent Such districts as BosMexicans who have been sent back ton Chicago Kansas City and Delia to their native land after year of fared not so well as the San Franresidence in the United States will cisco district furnish increased demand for American-made products in Mexico That is the opinion of Stephen E Aguirre United States vice consul at one-fift- Observer Sees Increase of Mexico Trade been sent back to Mexico during the past two years "Being particularly assigned to the commercial end of my country’s consular work I am In a position to know that commerce between the United States and Mexico will be greatly enhanced by Mexicans returning to their native land" Aguirre said “These Mexicans have lived in the United States sufficiently long enough to become accustomed to the more modern conveniences and Inventions As they return to Mexico they take with them the desire for these things and they seek them out at polnta In Mexico where they locate The Inevitable result la that fellow natives in Mexico become educated to the device and home manuand they too facturing machines want them “The Mexican returning to Mexico take with them atories of tha radio the sewing machine the washing machine the automobile and phonograph and other items of merchandise which they will demand sooner or later The returning Mexicans are colonizing and their community spirit is a great deal like they learned from the Americans” labor-savin- Chemistry Holds Youth’s Fancy in Mines School BUTTE Mont — In the spring a young man's fancy lightly turn to thoughts of— paleontology spherical or thermodynamics trigonometry electro chemistry At least this is true of Montana School of Mines students who are entering their second semester this month And the official table of classes for the spring semester of 1932 indicates that they are going to be very busy young men n different coulees' are offered in 13 departments this semester Including work in a wide range of humanistic and engineering studies Thoughts of love and posies and rippling brooks are rare In the chemistry department which is instructing its students this spring in qualitative analysis quantitative analysis electro chemistry fire assaying and chemistry thesis Fifty-seve- Firm Plans to Resume Work LAS VEGAS Nev— Officials of the Oro Amigo Platino Mining company Monday announced they have completed plans to reopen operations at their property at Goodsprlngs some 20 miles south of Las Vegas in the near future The Oro Amigo mine formerly known for Its valuable platinum deposits has developed most Interesting showings of cobalt and spurred by this encouragement the company has decided to employ a force to develop its deposits Cobalt is comparatively a new metal and it use are increasing to a substantial degree As a result the showing of cobalt In the mine will be given the most minute attention Little attention has been given the development of such deposits in this country and American manufacturers are forced to invade foreign markets for the valuable material Imports of cobalt have Increased fourfold since 1925 it was explained and the prices have consistently ranged from $2 to $4 a pound A new metal called konel and containing cobalt nickel and ferrotita-nlu- m Is claimed to be a satisfactory substitute for platinum Certain cobalt alloys are used for filaments in radio tubes light globes and certain moving parts of internal combustion engines and other extremely hot machinery E C Source of Finances TONOPAH Nev— Stockholders of the Raymond Van Ness Quicksilver company are considering way and means for refinancing the company and starting operation on the property near Spanish Springs east of Manhattan Operations at the mint were susA pended due to an empty treasury number of labor bills remain unpaid less Davies T Davies Badger Badger Go & Members Salt Lake Stock Cirhangt 2 West 2nd South Was 7029 New York Stocks and Silver Bonds Chicago Grain Fast Connections With AH Market Dependable Service In AU Unfilled Securities WILL SELL $2000 Continental Bank Building 6e Trust 01d Corporate Trust New Fundamental A Fundamental B Market ino Corporate 100 100 100 too 100 1000 Quicksilver Mine Seekt New Nevada Mining 10 2 50 2 45 4 15 4 40 Market Market Ntlon-Wtd- e Unripe Utah Power Si Lt 6 Deb Utah Power Ac Lt 7 80 00 2 50 WILL BUY 100 First 1000 Indep 5 Pacific Security Corp Coal St Coke Offer 35 National Refining Life Offer 10 5 5 1000 Utah Utah Utah Utah tomed according to the company’s engineer in what is thought to be the upper layer of the Wilcox sand in the lower Pennsylvania formation Owi Ac Ac Utah Power & Light 412 1911 Utah Power & Light 6 2022 Utah Power & Light 7 Pref Iine Assessments Pel hrvrr Copper ntrl HUndard lot 8tiulrd Mur !i Amt ‘yc ' ) Utl'e New Quincy Prinro Con 4 J 3J yo 20 Pels Data 11 Beason Investment Co BKARON BLDG It It It Offer Coke Pfd 66 50 71 00 Lt SI Power Power Ac Lt 7 V 8100 Offer It Metal Flu 106 Utah Oil Company — After a brief delay owing to the parting of a drilling line the Diamond Oil company has resumed operation on its well in Diamond Fork canyon at a depth of 3475 feet The hole is bot- 13 j 18 00 00 02 04 08 h Diamond 02 Direct private wire service Is maintained by our offices to execution Chicago and New York assuring prompt Through our leased wires and Statistical Department reliable Information and quotations can be secured on stocks and bonds No ducing 1 Sioux Mines So RUndard sea Con Tnr Baby DIRECT PRIVATE WIRES WASHINGTON Feb 13 WV-T- he Western Pacific Railroad company to day asked the interstate commerce commission for permission to issue $15000000 worth of bonds to be used as security for loans from the Reconstruction Finance corporation and the Railroad Credit corporation The application discloses that the company on February 8 applied to the reconstruction corporation for a loan of $799 000 to be used for temporary On the same date it apfinancing plied to the railroad corporation for $1303000 to meet charges coming due in the next few months 0' 00 03 02 05 Kin Coal Smeld Kf Silver Lowest level of crude oil production in eight years was reached during the last half of 1931 and early 1932 by the California oil producers according to the Business Outlook published by the Wells Fargo Bank and Union Trust company of San Francisco Effort to restrict output met with continuing success throughout the year During the last half of the year crude oil production everaged about 500000 barrel daily which was between 25000 and 30000 barrels less than the daily average for the first half of the year As a consequence of decreased eastern demand export of California gasoline and oil dropped off sharply Local consumption during 1931 however increased moderately This together with the curtailment in output resulted in a considerable reduction in storage stocks Recently the producers' voluntary control committee recommended a further reduction of 456700 barrels per day but some producers are reported as claiming that this amount is unnecessarily low 6it Bacrgmefito B'iver California Crude Output at Lowest Level in Eight Years 4 Provo Rico Art an J RETAIL TRADE Oil Production Mexico Thousands of Mexicans who came United States duilng boom Meets Success totimesthe have voluntarily returned or W P Railroad Aek§ For Bond Issue Permit Indian Queen Iron King bfttr DaltiKfd production In 1032 are movln heller Nw "rvnWi1 fabricrI seiHns more freely nose As A GOEFERj Ktc-l-- SALT LAKE STOCK EXCHANGE Yer New Activity At Tonopali Pessimism Wanes Weather Grows Better Secy Ogden Xa TONOPAH Nev — The fog of pessimism that has enveloped Tpnopah for the past 60 days has begun to clear away with the advent of mod38 erate weather The snow and ire is 03 fast disappearing roads to the various outside camps are being opened and ”!oJ preparations are being rushed to resume mining operations and a spirit of cheerfulness pervades the old camp once more "Give us silver and we wouldn’t know there was a depression only as we read about it in the newspapers” is the often heard remark on the streets “But we’ve got plenty of gold in r the ground yet" pointed out one “and if we can ever get rid of the durned snow we’ll start digging It out and show Old Man Depression that we may be down but never out" Emery Johnson who owns several good gold propel ties at Gilbert 34 miles west tlsiled his Yellow Rose mine at South Gilbeit “We found plenty of snow" he said “but made our way through without We found the doing any shoveling Whittaker boys lejsing on my Yellow Rose piling up ore for a carload to the International smelter shipment GOODS DV FIRMER They have opened up six feet of Cotton tnodi FOrnX?RiK’ T'b 15 ore I panned It and it on mighty good iht lVc will run from $40 to $50 per ton gold” rntn of rV ofn?6san divllon vmiranf of rnVeXr"n'‘ Honors for Napias Jim IN SECRETARY Ignite Burn Easily one-fourt- h Large Decline PACIFIC SLOPE Club Plans ELY was a production of approximately 7325000 ounces of silver in the state of Idaho in 1931 as compared to au output of 9425000 ounces of silver in 1930 according to estimates of the mines bureau Idaho Feb MOSCOW HOOVER CHOICE IN FUEL TESTS Ex- 1931 14 (ALT LAKE CITY |