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Show (HMsgoto HORN SIVER BEING REHABILITATED Page ternational Smelter company, both are speeding preliminary geological work. Rapid progress has been made in opening up the old Horn Silver Mine of the Tintic Lead company. Five faces of ore, lying on the fringe of the main ore body, are being followed into virgin territory, ac. Kipps. cording to Manager A. to The shgft has been and from this point to the the 1600 but a small amount of rehabilitation work is necessary. Leasers are rapidly taking up the available blocks of ground. Historically, the Horn Silver is one of the most interesting in the state. It was discovered in September, 1875, by James Ryan and Samuel Hawks, who sank a shaft 30 feet in ore. Lacking faith in the showing, the first important one in the San Francisco district, they sold out to Mat Cullen and his associates for $25,000. They kept the mine going for five years and in turn sold to Philadelphia interests, bonded by J. Coop & Company, for $5,000,000. Horn Silver once employed 500 men. It is said that ore mined on 200 and 300 levels ran several hundred ounces to the ton. Shipment of the ore was to Frisco, Utah, where two smelters were kept busy. Fricso at that time .had a population of 2500 and 27 saloons. The father of Betty Compson, the screen star, was connected with the old mine. By the first of March a dozen or more headings will be pushing into virgin ground, surrounding the block of limestone 1000 feet bv 400 feet deep, that supplied ore sufficient to pay $7,000,000 in dividends. Without a dobt, this was the most richly mineralized zone ever opend up in Utah. Manager Kipps is confident that startling developments will result from the work now being carried on. re-timbe- red 700-lev- el Announcement has been made by G. W. Lambourne, president of the successful Park-Uta- h Consolidated Mines company, that articles have been filed with the secretary of state for the Park City Utah Mines company, a Delaware corporation. The new company will carry on its operations in the immediate vicinity of the Park-UtaDevelopment will be through the latter property and adjoining mines. The new company i. capitalized at $1,500,000. According to Mr. Lambourne, the new company is prepared to spend several hundred thousand dollars to put the property on a production basis. This is the third company to start work of major proportions in the east Park City district within recent months. The Jark City Consolidated which has been completely financed by the Engineers Exploration Syndicate of New York and the h. Park Premier, controlled by the In UTAH COAL INDUSTRYS BANNER YEAR 1928 ore were mined as against 6,360 tons in 1927. The larger yield brought gross receipts of $733,961.79. An increased value of more than $375,-00- 0 will be assessed against the company for state taxes. On February 14, the Utah Copper reported the company produced pounds of copper in the fourth quarter of 1928. This was done at an average cost of 5.6 cents per pound. In the preceding quarter 71,716,464 pounds were produced at a cost of 6.1 cents per pound. 85,-911,4- 74 For 1928 figures disclose that 4,-806,- 990 tons' of bituminous coal was mined in Utah, making this the banner year for the coal industry in this state. New tipples, trackage facilities, apartments and employees homes were built and modern mechanical equipment was installed at a cost of over $1,750,000. The payroll was nearly $7,000,000 and the state will get in taxes about $284,-00The bituminous coal production, at the mines, was more than $12,500,000. A portion of this sum goes into the bank accounts of many Utahns. For a six year period ending 1927, the coal industry spent over $52,000,000 in the state for taxes, payrolls, supplies and power. 0. COPPER DEMAND STILL HEAVY DESPITE PRICE Copper is still holding at its price of 18 cents delivered in New York, and 18 4 cents at European ports. A rush of buying started the copper advance and increased price has failed to stop the influx of orders. Domestic purchasers are covering April and May requirements. Foreign buyers are covering current and March needs. The books for June buying have not been opened but business conditions in general are good and it may be the consumption of the metal may increase in the next several months. There is much evidence of this as January established a new record for brass shipments from domestic fabricators. It is reasonably certain that February, in spite of its 28 days, will make another new record. Many new budgets for expension and new construction have been announced in the past few weeks. The New York Telephone Company has set aside $11,000,000, the Public Service Corporation of New Jersey $34,000,000, and the Southern California Edison Company $29,000,000. These, with others, make a potential market in 1929 for copper wire pullers that will be in excess of busy 1928. The strikes in Germany having been settled by arbitration places this country in the market for copper. Buying had been deferred for several months but Germany is now taking tremendous amounts. It is figured that the domestic purchases for the first quarter of 1929 will show a new record for all time. The Eureka Lily Mining company shows a net gain from operations during 1928 of $125,353 compared with a net loss of $18,918.86 for the year before. Some 23,116 tons of in silver, second in lead, second in copper, fourth in zinc and sixth in gold. Richfield Reaper. The economic progress of any state is the sum total of the economic progress of its various communities. The function of insurance as a preventer of loss is equally important with the function of insurance as a distribution of loss. llllllllllllllllllllllllllllllllllllllllllllllll!s SEND IT TO THE I I LAUNDRY UTAH MINES PROSPER The Utah mining industry in 1928 enjoyed the most prosperous year since the record wartime period of 1918. Dividends paid by metal mines in the state in 1928 totaled $18,072,-41an increase of more than two lf and million dollars over the 1927 disbursement. Copper production for the year, unofficially estimated at 310,000,000 pounds, sets a new state record and fimly establishes Utah as the second area in the largest United States. The gross value of minerals mined in Utah last year is estimated at $83,040,875, an increase lf of nearly eight and million dollars over 1927. Total tonnage of ore mined set a new peak in 1928, the estimated figure being 17,500,000 tons, which is lf milapproximately one and lion tons more than was mined in 1927, the year of largest production in the last decade. In 1928, Utah maintained her metal production, ranking among all other states in the union, namely: first 6, Distinctive Work one-ha- copper-produci- Hyland 190 7iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiir? ng non-ferro- us one-ha- one-ha- INCORPORATED ESTABLISHED 1904 Members of Salt Lake Stock and Minins Exchange : 1916 j GEO. H. WATSON & CO. ! i i I R. F. Marvin, Seer and Treats. Geo. H. Watson, Prest, and Mgr. DEALERS IN UTAH STOCKS AND BONDS 25 East South Temple Street (Hotel Utah Building) SALT LAKE CITY, UTAH WE RECOMMEND PURCHASE OF PARK CITY CONSOLIDATED, at anything under 92.00 per share WALKER MINING at anything under $4.00 per share I. 1111111111111111 lllllll 1 II j i j j 1. ................TwTii... llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll III lllllllllllllllllllllllllllllllllllllll:. ' j United States Smelting, Refining & Mining Co. j Buyers of j ! MATTE, FURNACE PRODUCTS and FLOTATION LEAD ZINC ORE an I NEWHOUSE BLDG. SALT LAKE CITY, UTAH llllllllllllllllllllllllllllllllllilllllllllllllllllllllllllllllllllll 1 1111111, I |