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Show truth IS MINING COMMENT. . Measured by results, there Is more work being done in the various min lng camps of the state at present than ever before, while the volume of business transacted on the local mining exchange is reduced to a minimum. During the month of July a volume of ore approaching 100,000 tons was reduced by the smelters in the Salt Lake valley, while during the same time the sale of mining stock was less than was frequently made in a few days two years ago. While the prices of the stocks have decreased the output of the mines have grown. This is a seeming contradictory state of affairs, but a similar occurrence has transpired within the past ten months in the prices on the open market of industrial and railroad stocks all over the country. This shrinkage during the time mentioned is given by competent authority at over a billion and a half of dollars. In spite of this enormous shrinkage the same profits are being earned and the same dividends are being paid as when the higher prices prevailed. In neither the case of the local mining stocks nor of the general investments ' has ' there been actual loss to any extent. The contraction has been on paper only. The change has been caused by speculation. Too many people have bought on a rising market beyond their means. They dealt too heavily in margins, which Is equivalent to trying to do a blue business with white chips. The high water mark had to be reached, and when it was reached those who were playing for profits from a further rise in prices, instead of dividends, were obliged to let loose, and in many instances the compulsion cost them the entire extent of their holdings. These unfortunate changes do not Indicate a lack of merit In stocks generally, but a general attempt to get rich quickly which cannot be done by all the people all the time. It is a result of bad financiering, and after the wreck is over business will continue as before. The fault was in the buyers, whether they were brokers or plain speculators, and the violators of well settled business rules are the ones who have paid the penalty. Parties who own stocks outright are just as well off as they were before, but they failed to make enormous profits by not unloading while the spirt of inflation prevailed. Jit the presence of that metal in paying quantltes, there is apparently no doubt. The delay is caused by the lack of appliances for its extraction. But the avenues for its appearance as a commodity are multiplying and coming nearer. Good results were obtained from the shipment made by the Horn Silver people to Antwerp, Belgium, some months .ago. as to the deslrablty of the ores, but the expense of transportation half way around the world makes continuous shipments prohihtve. A new zinc plant is promised at Park City to replace the one destroyed by fire some months ago, just when its success was practically assured. Then the United States Refining company, with furnaces at Canyon City, Colo., are considering the propositon of calling on the Utah zinc ores with whch to Increase its output of the light metal. An encouraging feature of this industry lies in the fact that a vast tonnage of zinc ore is already on the dumps, of various, mines for shipment, so that the expenses of mining and the risk of development will be avoided when the work begins. J JX W. H. Adams, a metalurgist of Los Angeles, is at DeLamar, Nev., tor the purpose of making experiments with the slimes from the Bamberger-D- e Lamar mines. Mr. Adams, it is stated, claims to be able to extract fully 90 per cent of the gold values from the material which he is to treat. -- . J JX 'J ' The Wabash, of Park City, has levied another assessment of 5 cents a share or a total of $15,000, which amount will put. the company out of debt and will make an aggregate of $60,000 that has been called for within the past year. The management is still hopeful that a mine will eventually be developed and a strike of ore is looked for confidently almost any day. The shares of the Wabash sold for $4 each some months ago, but they are now quoted at around 15 cents. Belt railroad Con. property at Bingham shipments on an. extensive scale will be inaugurated to the smelters. Whether this move which is somewhat of a surprise means the abandonment of the intention to erect a smelter for the companys ore, or is meant to provide the funds with which to build the smelter has not been announced. - JX JX 4 , 500-fo- $17,-832.4- 5. ot - 200-fo- ot 4. 4, tion of each place. Names of ship-perlive stock dealers, breeders, grainmen, nurserymen, dairymen and others in the country surrounding Also complete classified lists, of names under heading for each pursuit. Above is a mere outline of the salient features of the work which will be replete with miscellaneous Information concerning Utah. If you solicit trade in Utah, advertise In .the Gazetteer. It will pay you. If you are s, the-towns- THE 8CENIO LINE TO Olenwood Springs, Aspen, LeadviUe, Pneblo, Colorado Spring!, Denver, Omaha, Kansas City, St. Louis, Chicago, and all. points east " 1 1 . Cosseting at Tralno. 3 Ogden Union Depot with all Southern Paeifle and Oragen Short Line The only Transcontinental Lina passing directly through Salt Lake (My. . , SFLBWDIDL.Y FAST TRAINS DAILY Via Thr EQUIPPED BETWEEN OGDEN AND Mpamti aid Dlitlaat 8etl DENVER Boat. ' 3 Through Pullman and Ordinary Sleeping Oars to Denver, Omaha, Kansas City, St. Louis and Chicago without change. Free reclining chair cars. Personally Conducted Excursions. Dining Oars, service a la Carte on all through trains. Vn ntci, olden, free Illustrated frooklete, ote.'(1tfqaire ef year " pro- duction of zinc in commercial quantities from Utah ores will be the next industry to take tangible form. As to of the Copper track to the Boston At the completion . Walker and W. Mont Ferry have purchased 90 per cent of the 500,000 shares of the Cluster Mining companys stock with holdings at Bingham. The property is situated between the Dalton & Lark grounds owned by the Bingham Con. company and the holdings of the United States people. It is considered a meritorious proposition both on account of its location and the showings that have responded to development work and in the hands of its new owners the opportunity seems decidedly favorable JX It is not at all unlikely that the Jit JX At the annual meeting of the Yankee stockholders held within the week the same management with John E. DuBois as president, and L. A. Amsden as secretary and treasurer, was continued. During the year just' jX JX finished the receipts 'from the sale H. E. Cary, former owner of the of ore aggregated 102,431$.08 and the $83,622.98. Carisa and who is now engaged in expenses reached a totaltheof new The company begins year mining in Old Mexico, was a Salt Lake with a cash balance on hand of visitor within the past week. He is JX JX associated with R. J. Coleman in a level of the Stock-to- n On the gold proposition near Sinaloa, from which as much as $1,200 a ton in the mine, managed by J. J. Trenam, been The obtained. metal has yellow the accuracy of the computations of property has been incorporated under J. T. Breckon, was recently demonthe name of Showers of Gold, and it is. said that a minor portion of the strated in a striking manner without the stock has been disposed of to eastern any attempt to make a pun-owhich a has at great- word strike. An ore chute which apfigure capitalists ly enriched the promoters and en- peared on the ' level had sured the successful operation of the failed to appear in the intermediate mine. . workings. It also appeared shy on j H.JX D. the lower level. Mr. Breckon was Trenam, of called in and after making a' survey Superintendent the Beaver Con., near Milford, was a instructed Superintendent Maze just Salt Lake visitor within the past where to explore for the lost treasure week. Mr. Trenam reports a most and stated that the body ought to be found with a very few feet of work. encouraging state of affairs in that The second shot revealed the desired property. In the shaft which is now results confirming the accuracy of the down 460 feet and will be continued work and showing that the formation to the 500 level before laterals are is decidedly regular and that the ore run, a stringer of high grade copper chute is very much in place. o ore that extended entirely across the shaft was entered a few days ago. THE UTAH STATE GAZETEER The shaft is not in the vein, but with such showings, the stringer being 1903-0Polks State G&zetoer and Business will reveal ths Directory for 1903-0of the three past changes yeare, and as Is today. the State it reprerent names of all business and profesThe sional men of every city, town, village and settlement, with full. descrip; JX dro road has returned from an Inspection of the Majestic companys mines and smelter and of the Cactus property, which is to form the basis of the Newhouse smelter and the town of Newhouse, all In Beaver county. The trip was made In response to requests from the managements of the properties named for additonal trackage and railroad improvements that are needed in order to carry on those mining enterprises, and a compliance to these requests is a matter of vital importance to their success. A thorough examination of the properties was made, but Mr. McDermott will release no forecast of his findngs prior to his report to the officials of the road. several inches thick, the outlook is considered decidedly encouraging. ' M. H. Wiliam McDermott of the San Pe- . JX for it to grow into a great mine. A tunnel will be run a distance of 1,100 feet and at a level COO feet below the present workings. Extensive work has always made great mines in that camp and there seems no reason that the rule should be broken in this instance. Merest tleke tercet, speolfylrur the Rle Onede rente, or eddi L A. BENTON, G. AiP, D., SALT LAKB CITY not in trade, order the Gazetteer ai t progressive citizen. You can lean more about your state from the Gazetteer than you can from any other source. It is a business educator. 'It Is a 'family educator, R. L. POLK ft CO., Publishers. . Salt Lake City. ; ? W. P. COOPER; 8ecy and; Mgr... v O Lieutenant F. T. Hines pf the United States army is in the city on furlough and is visiting his parents, Mk and Mrs. F. L. Hines. Lieutenant. .x.ui .a uao uccu Diauuueu al Uio idio for a couple of years as military Instructor. He has been assigned to Fort Monroe, Va., one desirable stations1 Lieutenant Hines . clever young .man rise in.the army. is sion, . I ,r., . the most ,of country.. in is a. remarkably, and that he will a foregone conclu,, the-- . 1 |