| Show The Sunday Morning' RICO CGLUMBUS-RE- L SHIPS 200 TONS ORE IN AW m I Moved 170 Mine Cars Ore and 47 Cars Waste in Seven Days ARGHOTE Lessees Have 500 Tons Ore Broken Company Ships 20 Tons Day Operations at the ne - BIG PINEY’S NEW OIL WITH STEADY BUYING WAlI Service Nvi — RV STOXOfC B international New York Nov 10 The stock mar- ket in the short session today was firm Steel remained firm throughout the session General Motors and Chevrolet broke to low records in the early trading There was bood buying of Studebaker The close was strong with good buying In evidence throughout the list Two features of the day were the sale of Liberty 4s under par the transaction being for S30000 at 9998 and announcement that the United States Steel tonnage had decreased in the last month 823802 An advance ef 5) points in Stude-bakwas due to buying based on the statement from President Ersklne of that company that after payment of war taxes there would he left 817 a share for dividends Chandler direc-on tors announced an extra dividend their stock which places It on a 13 per cent basisstatements came when These two General Motors and Chevrolet were selling at low record prices and sharply surbrought these stocks upatatement In the actual bank of plus reserve showed a decrease$23332-000 loans a decrease of and net demand deposits a decrease of 312542000 The average statement surplus reserves Increased 832173230 loans Increased 345871000 and net demand deposits Increased er 3L-3001- 317-8870- 70 00 NEW YORK STOCK LIST John C Cutler $20089 CASH : WELL CASSES A STIR “In my opinion Salt Lake Is destined to become one of the greatest oil centers In the United States said C It Bunker editor of the Mining and Oil Record upon his return from an extended visit to the lMney oil fields situated forty Ilig miles north of Kemmerer Wyo “It Is the logical shipping point for supplies of every description and for the location of refineries adequately to care for the oil that will undoubtedly be produced in large quantities from the' new fields If the recommendations of geologists count for anything" the Upon report or the bringing In of a well on the ground owned by the Cretaceous Oil company at a depth of 835 feet Mr Bunker left Salt Lake for a personal Inspection of the district He has returned enthusiastic over the prospect the district presents for the making of a field that will be in his opinion which Is supported by eminent geologists as well as the experience of Charles Lackey field manager for the Cretaceous company vho has spent four years in the field and has staked hts time money and reputation on the ultimate production of the new fields “Like every one who has had very much to do with oil and mining I at first was skeptical about the reports that were brought from the Plney fields' continued Mr Bunker “And It was not until the news of the strike on the Cretaceous ground at the comparatively shallow depth of 835 feet that I determined to take the trip and look over the ground for myself and associates After having spent many months In the Casper fields making examinations and Inspection I naturally feel that I have acquired some little of oil districts knowledge “OH Indications In the Plney fields have been known to geologists for a number of years but it was not until the Guffy Interests who are among the most prominent oil operators In the United States sent their field superintendent Charles Lackey to make an investigation of these fields about four years ago that active operations startMr Lackay recognizing the Imed portance of the fields soon resigned his position and has been ever since engaged In proving up the district land and validing his claims eating ' “That hie faith has been borne ont by the facts Is indicated by the bringing InInof theLafirst well which Isonsituthe the ated Barge anticline cretaceous dome During the period Mr Lackey spent on the ground he lias drilled 158 water wells In all of which he has found good oil colors giving some indication of the great extent of the fields The oil ground in the Cretaceous well Is of a high grade with a paraffin base and excitement runs high throughoutnewthe whole district on find account of the LOOK FOR LEAD LOCAL SECURITIES Recent and increased demand for strength the stock of the old Grand Central of Tintle reflected dividend action taken by the directors at Provo yesterday4 The regular quarterly dividend of cents a share was declared This calls for the sum of 120000 to be distributed on November 20 to stock of record November 15 This will the 1917 dividend distributions up bring to 12 cents a share or 360000 It will give the company a total dividend eredlt of 31714750 on the 500000 shares issued The Grand Central has lately been suffering with the rest of Its neighbors on account of embargoes and cars But In October it shortage of managed to ship thirty-tw- oforty-thre- carloads e thlrty-s- i in September In In July and 233 for August thirty-fiv- e the first six months of this year This makes a total shipments for the first ten months of 1917 of 379 cars estimated at 15000 tons According to word from Provo CoL C K Loose returned to Provo on 'Wednesday after a visit to his mining properties In Tintle district He reports the Gold Chain and Grand Central in splendid physical condition although both have suffered greatly as a result of the embargoes of the smeltand the of ing companies railroad cars As the minesshortage have been unable to ship anywhere near the regular amount of ore the working forces have been cut down and at this time about one-ha- lf of the regular number of miners are on the pay rolls Consld erable ore is piled up at both the Gold Chain and the Grand Central and Colonel Loose is of the opinion that things are soon going to brighten up for the mining operators of this district He has investigated the smelter situation to some extent and believes The returns from the crepe are stimbusiness at all t the ulating towns and cities of nearly Utah The slight rain of the week did ‘no damage and If this fine weather continues all the beets will be out of the ground befot£ the twentieth of the month In Idaho all of the beets are out of the ground while In Utah only about 10 per cent yet remain In the ground In this stats the ground continues good fir fall plowing It is sbld that everyone— manufacturers and householders — should use food products sparingly and there should be meatless and wheatless days in order to provide more food for our soldiers and allies The people of New England and coast Atlantic states are asked to use sugar sparingly aa the supply will be limited until the new crop of cans can be harvested and shipped from Cuba and the Tropics and the new crop of beet sugar can be In ample supply to the oast shipped Small sacks of Utah beet sugar have In New York City already been 'received by express and some Utah -- Idaho beet sugar that was received at Missouri and Chicago points waa sent on and has been received by our American soldiers in France Beet sugar la very nourishing and the soldiers are glad to get It Money Is In strong demand In this city at the present time There has been a decline In prices of securities all over the country lately and in our ‘local securities more new levels were reached in bonds as well as the better class stocks during the week It Is that the declines were caused thought mainly through lack of buyers The United States Liberty loan 3a dropped below par while the second Liberty loan 4s held at par In the last few days Approximate quotations of local securities show lower prices ‘ 2 I o O world-renown- ed There have been no new 80 O e Reno Ner Nov 10— While nothing of a sensational nature was developed In the Granite 11111 during the week miles fourteen north of Reno district In the different workyet the showings mine at least ings of the Nlxon-Nevaheld their own with Improved Indications In one or two of the working faces The drift on No 2 vein which for some time has been Iil very high-grad- e ore and where rock tfoing 75 per cent copper was recently encountered Is still showing the rich ore the only of note being that It carries change more than the usual amount of gold A great many specimens have been picked out which show free gold visible to the naked eye The chief engineer for the Western Pacific railroad was up from San Francisco last week and practically decided on the location for the Nixon-Nevastation on the line It will be about 500 feet from the south end lines of the company’s property and will be a great convenience aa well as making for economy been made for a Application has Nlxon-Nevaat the there postoffice necessary populabeing more than the tion Telegraph and express facilities have also been promised for the near future so that before long the miners will not be subject to' the Isolation which prevails at so many mines Mlae Water Rlcaif Another feature which adds to the g of the miners comfort and and which turned a liability into an asset was the utilization of the water from the mine for the irrigation of a model farm which furnishes a variety of fresh vegetables for the table When the water was first struck In the mine It was looked upon aa a calamity now the product of the twenty acres under cultivation is paying the fuel bill for the entire property -- Assessment ConDirectors of the Three solidated Mtnlng company Kings have levied the initial assessment the past week St Is for 2 cents a share The delinquent date Is December 12 and sale date Is January 3 The object of the levy Is to clear uptosome obligations of the company and finance the energetic campaign onof development work the Park City propalready started shaft Is being sunk erty The530main to greater depth where from the the formation will be crosscut to a certain objective MONET 10— Mercantile paper 84 New York Nov Mil commercial 09- Starling: onSixty-da- y banka 471 commercial dav bills bill 4754 rabies 476 Franc 4704: demand 7674: cable demand Guilder demand 44 Urea demand 857 cable 434: cable Rubles demand U S54 cables it MexiGovernment bonds steady: can dollars 65 railroad bonds irrrgnlar ao-da- y 6 WATCH THE “WANTS' AND WHEN there's a vacancy In the kind of a house you’ve always hoped boarding to find an unmistakable clew to its hereabouts will be ’found in one of e “want ads Use The want ad phone Main 787 Herald-Republic- an Purchased According to Information reaching President Haire of the MIchigan-Uta- h tlie shipments of ore from the entire Alta properties the past week totaled 10 or 11 carloads This amounts to approximately 550 tons The company shipped three carloads from the new strike in the Lavlnia fissure from the Copper Prince tunnel on the Alta side of the domain The Pioneer Leasing company shipped four carloads from the Solitude or Big Cottonwood side of the property This lease was some time ago taken over from L E by A O Jacobson and associates The Triangle Leaeing company shipped about six carloads from the old City Rocks end of the mine The Mlchlgan-Uta- h has Just made the of 35000 feet of traction purchase rope or cable for the tramway Moat of this will be used In repairing and strengthening the tram from the mine down to Tanners Fait a distance of four and a half- - miles Some sections of the cable need replacement now and this work will be completed before winter sets In for earnest It Is the expectation of the management to ship steadily all winter develop' of work re lng shaft About 230 feet mains to be done hut a set of timberi Is being put in place each day drift haa been sent out a short da da well-bein- Feet 15000 Cable To Fix Tram for All Winter Haul Oo In a satisfactory manner Des-pal- diS' tance and sinking Is to be resume within the next few days OLD CORN ADVANCES IN L ne F PRITCHARD RT JOSEPH By International News Service OTHER KNIGHT MINES While the Knight mines are not shipping as heavily as they would be if It were not for the embargoes placed on their ores by the smelters a largo amount ’f development work Is going Secretary-Treasur- at these properties says the Eureka Reporter AT the No 1 shaft of the Iron Blossom sinking is progressing In a rapid and satisfactory manner it being the Intention of the management to take the shaft to the 2100 level from which prospecting will be point extensive carried on The Colorado Consolidated company Is driving a drift on the 1100 level to develop a new section of Its ground A drift was sent over iito that part of the Colorado from the Crown Point and the drift which haa Just been started will cut the same ground about 100 feet deeper At the Dragon what Is known as the No 1 shaft or winze is being deepened The shaft is down about 1500 feet which Is equal to 2000 feet In the Jrui Blossom adjoining the Dragon on the north and a pump Las been Installed to take care of the small flow of water which is lifted up to the 1000 level and allowed to flow into ti-- fissuvtug or loose formation wlt'ca exists there The Iron Blossom continues to send a good tonnage of low grade ore to the Tintle mill and the mine is alsu shippim some higher grade ore as well as a lot of Iron Things are moving new along over at the site for Knight’sright drain tunnel The work Is progressing on the power line and this week the company for the construction of a telearranged phone line Buildings needed for the big campaign of work are about completed and the finished touches are being placed on the company’s machinery Within the next month the power company will no doubt be ready to furnish electricity for the machine drills which will be put to work In the face of the new tunnel 25 Cents CHARLES LACKEY P BUDD :C N H l er i CHENEY - " JENSEN JENSEN A HOLMAN HOLDINGS 920 seres in the Dry Piney oil field of Lincoln county Wyoming as follows : 480 acres on the Cretaceous dome and the La Barge anticline 440 acres on the La Barge anticline adjoining the Cretaceous dome " The company is validating ten quarter-sectioon the Lackey which is on the La Barge anticline ten miles north of the Cretaceous dome This work is being done jointly with the Utahna Oil Syndicate The validating rig surveyor and crew of men are now at work on the ground It is expected that the first Shannon sands will be reached at from 950 to 1100 feet depth Our 920 acres adjoin the Cretaceous company beddings where the Shannon sands 32 feet thick were cut at 835 feet The Cretaceous well brought in a very high grade paraffine base oil The top layers are eroded more on the Cretaceous holdings than on the Lackey hold- -' ings which accounts for the additional depth we must drill before encountering this sand The site of our first well hole is one of the test holes where the validating rig got heavy oil drip in the lower cretaceous measures at a ns dome depth of 85 feet There are favorable reports as to the structure of this field hv Trumbell Wyoming State Geologist John B Taylor Frank Jardine A G Burritt and Douglas They all compare it with the Big Muddy and predict the same returns as were had at Big Muddy but ‘at shallower depth on account of the greater surface erosion Field operations will be in fnll personal charge of President Charles Lackey who proved the field by bringing in the Cretaceous well Mr Lackey lias spent the past five years in this field during this period he has drilled 156 water wells in all of which he got good oil colors at depths ranging from 12 feet and deeper For fourteen years Mr Lackey was a driller and lease superintendent for some of the laigest Texas and Oklahoma oil eompanies He was first sent into this field by the Guffy interests He first examined the La Barge anticline in the 1a Barge field In examining the country lie traced the anticline into what is now the Dry Piney field and the Cretaceous dome which is 11 miles north of tlie La With the Barge field and a northern extension of that anticline muster was to Mr able from the limited support people of Lackey well Lincoln county Wyoming he put down the Cretaceous During the past two years he has spent about $40000 proving up the district market I Low High C1oae 113i j 11341 11861 119 114 1U 114 sees eeoeeeeeoseeee OATS— December eeeeeeel My 10 KK— e !! January LAKI— ( November I January 0041 59 60S -- 61V j44a !2402 2461 12400 I2400 50l 40Si 14450 14441 f I2TC6 2875 K1B3— January r PI 2371 2323 0n 2371 2330 17355 May Cash q'Mtatlor: Corn Xo 2 1 and 4 yellow all nominal Oats— No 1 white C28SZ4 atandanl 0212 $24 Rye— Na 2 1774 Barley— 16081-3Timothy— 0008778 Clover— I9ftC'J2400 ' Fork—Nominal 3 lanl— 2720 Klbs— Nominal 27-G- ff Notes mid Personals Half a dozen of his mining director friends were up to the I D S hospital yesterday visiting Herman Bamberger who has been on the sick list the past ten days He was feeling so cheerful that his friends hope to see him on the streets again shortly It is reported that the Prince Consolidated mill at Bulllonvllle is operating train Manager P V Bod fish of the Alta Tunnel A Transportation company has been up to Big Cottonwood property a new set of the past week men on the big starting tunnel work Everything is prepared for pushing the work with all possible speed during the entire winter Capt Duncan MacVlchie of the Western Utah Copper said yesterday that the production of the Deep Creek mine has been cut In half on account of the general embargoes The recent was about 200 to 250 tons aproduction day of copper ores 17 1-- 3 In each instance Add accurcd bonds interest to quotations on Goodsprings and Mine Development GaAccording to the zette Manager W E Goodsprings Allen of the Bill Nye Mining company has begun work on the Akron group where he has two men working There Is a three-foface of 36 p ejr cent zinc exposed in the drift and the present plan is to con? nect the Akron workings with the present workings 6f the Bill Nye The gold sulphides of the Gold Nugget vthlch were discovered several weeks ago continue and the showing Improves daily The property Is located just below the old Keystone workings and belongs to the Tom Thumb Mining company of which F O Wilkinson Is general manager Many favorable silver assays during bethe recent weeks lead oneto the lief that Goodsprings the big zinc camp may at some time become a second Tonopah W E Allen has obtained an assay of 368 ounces of silver from ore taken from the Liberty group recently located by him All the work so far has been near the surface hut Indications are most favorable for the continuation of the ere already exposed e 'Another streak of has been encountered In the Keystone in the No 2 slope of the 300 level The ore Is of thO same character as that recently found nearer the surface and assays run over 3400 to the ton Work on the new shaft and drifts has been abandoned temporarily on account of water which has been mixed with the muck ever since the recent storms A ore la beshipment of the high-grad- e ing prepared ot high-grad- Eaglea Plight Probably no mine In Tintle has suffered more as a result of the smelting 4k companies embargoes than the Eagle Blue Bell which has been unable to out of the past ship during sixty da)’ not teen for this seventy-fiv- e Had it trouble tha Eagle would no doubt have closed the year with the best dividend record of any of the Tintle mines As It Is the mine’s record of 3580000 for the year Is only exceeded by that of tlie Mammoth Regarding the Eagle 4k Blue Bell states that a Superintendent Owens large amount of new ore has been developed during the past tew months the entire working force being kept on -- A F STUMPF Fiscal Agent 404-40- 5 V Boston Building Tlie following brokers have been authorized to accept subscriptions to this allotment: H B COLE W H CHILD A CO Mining Exchange Bldg Mining Exchange Bldg W SCOTT WEILEB WOOLLEY BROS Newhouse Bldg Mining Exchange Bldg GEORGE E HEMPHILL A CO DERN A THOMAS 515 Atlas Bldg Newhouse Bld£ A Utah Corporation Composed of Utah Men Our Holdings Are in Utah m ARE at the mine EVERY DAY WE OFFER A SMALL BLOCK OF STOCK TO THE PUBLIC Our Directors You Know Well Dr E D Woodruff President Thomas J Steed Vice President at James 1J Moyle Treasurer Frank S Murphy Director S W Morrison Director They assure you a square deal at all times COME AZU) SEE US The Eagle’s under- ground workings are In excellent shape for heavy production when conditions change and the smelters are once more ready to take the product of the big producing mines of this district The stopes are In fine shape nen chutes have been Installed and everything about the mine Is in good condition Never before In the history of the propwas there such an immense amount ertyhigh-grade of ere awaiting shipment DREW Our Equipment Is Modem Other Rigs on Way to Our Field new work Whenever a drift encounters an ore body the work must necessarily be stopped as there is no storage room i LACKEY OIL C0KZMOT ! scriptions save the very poorest con llnue to meet ready takers j which he pioneered The Lackey Oil company is being financed principally by the local people of Lincoln county Wyoming Further capital is required to successfully bring in producing wells on this property before spring The Dry Piney field is the latest sensational oil discovery of Wyoming It is virtually at the doom of Salt Lake and its legibilities are unlimited We offer for vour immediate consideration 200000 shares of LACKEY OIL COMPANY stock at 14 cents net on ripa TOP " da 2 0 1 polntment In the ranks of the bulls be cause the selling of lard RAILROAD LtiJIntof futures as follow Special (TTerald-RepabRca- n c SHIPS 350 TONS S3 CORN— l-2- M1CHIGAN-UTA- H era T ' Preaident Vice President Counsel Utah mine operators have an anxious eye on the east and an ear to the ground these days In hopes of getting in quick touch with sound waves that lead silver and zinc have taken a start on the upward trend The low price of lead hag worked almost Incalculable hurt to the Utah and other western This mines in the pastw tevmontha with smelter embargoes and shortage of railroad cars and congestion at samplers have been other contributing causes This has resulted In the closing down completely of many mines and great reduction of forces in others During the past week the local settlement on lead had been 3550 a hundred Local operators declare such a price is out of the question unless as is the case In particular mines the lead ores carry high silver values They declare that lead at 37 will about cover and It requires almost $8 to give any profits appreciable However aa the eastern settlements the past week have been around 3625 an advance of 75 cents a hundred it is In anticipated that the lead settlement not Utah for the coming week will te less than 625 a hundred STOCKS M® : Markets e orders TO A HAVE Three Kings Levies Utah Mine Operators Keep-- ing Close Watch of the O ' Incorporated Under the Laws of Utah for $1000000 TK Par Value Per Share -- NIXON-NEVAD- Total sales far ths Say 340909 shares 61-4THBO- 0 M 9 umf II SOTTEMTAT bankJr Investmentreview er In hie weekly financial Has Shipped 379 ‘Can or 15000 Tons of Ore Rico properties are Mining company making good progress and shipments ore will aoon be going out steadily of 1 the week from November from both the lower company works to During November 7 the Columbus-Rexa- ll trammed out of the mine a total of 157 and the upper workings under Messrs mine cajrs of ore There were moved and Fields lease- A letter Just also 13 cars of mill ore and 47 cars of Snyder from the mine superintendent received 217 ears waste This made a total of Most of the waste sent out was from says that the lessees have 500 tons of the dead drift which Is making to get ore broken and ready for shipment out under the main orestope from the This Is a combination ore carrying an tunnel level 40 In of cent lead and average were same per there period During that shipped down to the valley smelter 39 zlne The ore has been tied up by an team loads of ore These will average But word haa been received five to six tons to the load This will embargo that be lifted the coming this will make approximately 209 tons moved In Then week thle will release twenty that week Manager Evans got word yesterday tens dally or at the rate of 800 tona from the Alta mine that ten team a month loads of ore started from camp which In the lower workings the compsny amounts to about 59 tons The ore has 100 tons on hand of similar comis all of about the normal grades to the character the of Owing bination ores From here Is being ores It may be shipped when there is an embargo on many of shipped daily about twenty tons This the other mines the smelters having a Is mainly 'the copper ore which is of certain character of ore and carrying better values lately This will asurplus dearth of others give the Argentine a daily production There are now about twenty men of about 40 tons or at the rate of 1200 employed at the Columbus and the tons a month physical conditions generally are declared to be very satisfactory STOCK MARKET IS FIRM no November 11 1917 Sait Lake City Utah- - n e I ©AHD GSMIAL 40 TORS A DAY PAYS Rleo-Argentl- Herald-Republica- it! Capitol Petroleum Coipy Suite 512 McIntyre' Building Salt Lake Gity Utah Telephone Wasatch 8462 - |
