OCR Text |
Show Ve Tintio is the great- ;.v Tintic's Silver Production in 1920 Exceeded That of any other Camp. est silver producing camp in the United States.' EUREKA, JUAB COUNTY, UTAH, FRIDAY, MARCH 25, 192L Volume XXI Suits 'Filed Against Central Standard Co. Nothing On Silver V EASTER Number 21 American Smelting - Has Small Surplus !! Standard Co. Forced Its To Cot Dividend A surplus BOSTON, March 19 of 812,721 over and above fixed o charges and dividend payments was the result of the 1920 operations of Will pay one half the regular President of well known smeltthe American Smelting and Refining company explains why amount; with mining condiing company, according to the an- silver is purchased at $1 per nual report for the year, as comtions so unsettled company ounce under Pittman act. pared with a deficit In the previous will hold big sum in reserve. year of 81.085,658. After calling attention to the Bine the provisions of the Pitt-readjustment carrying Directors of the Tlntic Standard postwar act have been In operation and metals, down to prewar levels, Mining, company Friday last declared the sorerament-ha- a started to purPresident Simeon Guggenheim says a dividend-o5 cents per share for chase silver at 9 1 per ounce, there costs of that production still range have been some, but very veak, defrom 60 to 76 per cent ahead of the the first quarter of 1921. This dlvl- mands that the law benefiting the Pald April 2nd to the ten-yed average for the decade stock on record March 28th. Reason white metal miner should be repeal- o ing with 1912. ed. Sidney J. Jennings, president The hopeful portion of the present ) or 4ho cutting of the regular of the United States 8melting, Re- Will Install New Fire' the president believes to be dend rat trm 10 cant Pr ahara 40 Whistle At Chief Mine cents Is believed to be the prefining 4 Mining company, points out in the practical certainty that bob- very clearly why such action would tom has been reached, while any carious condition of the metal A new whistle for ripe alarm purbe not only unnecessary, but unjust. change In the future should be for market. which makes It Imperative Mr. Jennings letter Is as follows: poses will be purejud by the Euthe better. The principal of Inven- - or min,n companies to keep on "In a recent editorial article reka Volunteer El ro Department and metals for the past year was iand a large reserve to meet emer-th- e torylng headed The Silver Crime of 1921, Installed at, the Chief Cons. mine. same as In the preceding fifteen , tencles. you advocate that the United States The whlstfe jit this mine Is not The payment of this dividend on years. government should repeal the Pitt- shrill enough to awaken the city at April 2nd, a total of 858,725, will man act The main argument you night In case of a serious fire. The bring the grand total of disburseMay Day Development use Is that the government can, by new whistle will be similar to the one ments made hv the Tlntic Standard purchasing silver at the present on the Tribune building, which can At Depth Of 1800 Feet 'up to 21.479,597. On the last dismarket price, make a profit be heard almoht from one end qf bursement In December, 1920, the "This profit would be In addition Balt Lake City to the other. company paid 20 cents per share. on work 1800 the Development to the one It already made when It This consisted of a dividend payment level of the May Day mine In the sold some of the silver, In Its of 10 cents per share for the fourth Is on Tlntic District carried Mines Utah being treasury under the Pittman act at cording to the report for the year In the most promising formation yet quarter and another 10 cents per 11.01 M per ounce, largely to the 1920 of the director of the mint, of 1920, encountered, according to George H. share for the third quarter British, government, in order to 9270,121,654 were melted under the Announcement has been made of their losses on lead offset the pro- Dern, manager of the company. Mr. which had been: passed at tho Pittman act satisfy the silver needs of India. reduction In wages In the metal fits on silver. Dern recently returned from a visit regular dividend date. "In 1917 India was exporting "This melting would, under the mining camps of Utah, effective on The Impending wage reduction of several days to the Tlntic Dislarge quantities of material that was terms of the act, - require the re- April 1st. The amount of the cut will not enable the mines to operate trict, says the Tribune. Standard Loses Law Suit needed for war purposes- - The only purchase of about 208,000,000 fine Is 25 cents and applies to at a profit It should be viewed two months a quarts day For the per past to was tor In ounces the silver method of paying of this ship produced On East Tintic Claims of Utah a all the mining only as stop forced upon them by fissure has been followed through employees into India either gold or sUver. Oold United States from ores mined companies. reason for the re- the existing circumstances. The limestone. Unless This mottled mottled was unprocurable and, therefore, In the United States. Of this duction In outlined In the following other Items of cost come down or limestone Is considered the most In the case of James Gatley, Ben silver, was shipped. A very rapid In- smount some 27,000,000 ounces In statement from A. G. MacKenxle, the the market Improves speedily, the favorable of the Chief Consolidated Richter and Joseph Melhlich vs. the crease in the price of silver took round figures have been repurchased secretary of the Utah Chapter of operators will soon have to choose series. In places this vein of brown Tlntic Standard Mining company, a place until In September, 1917, sales by the treasury department at a the American Mining Congress. between further wage reduction or quarts has been eight feet wide. In suit to on mining claims In title or ounce. were made as high as 91.14 H P price of 91 Per fine quiet re"The mine operators greatly complete suspension of operations. other places, according to Mr. pdrn, the eastern end of the district and ounce. In the original purchase of the gret the' necessity of reducing wages 'High cost of mine supplies, such the quarts has pinched dowh and Provo, before Judge Han"This rapid' rise alarmed the silver whlc had been coined into ss powder, caps, fuse, steel, etc., been replaced by a brecclated lime- tried aatverdict but the step Is absolutely again, has been rendered In son, British authorities. They realised the dollars that were melted under avoidable. The action has bpende-clde- d the recent enormous Incresase In stone. Drifting, raising ghd sinking favor of the plaintiffs. Tlntic Stanthat unless the needs of India were the Pittman act, the United 8tates upon only after carefur con- power rates which hit tho Industry work has proven that this quarts dard Mining company made applicasatisfied Its demand for silver would government made a very large pro- sideration and with a realization at every angle, are chiefly deposit Is persistent. Assays of the tion for patent on mining claims bring about a crisis that the allies fit as seigniorage. When the entire that costs must be reduced slble for the present crisis. The vein matter have . shown that the which were In conflict with ground could not then face, and the British repurchase of 208,000,000 ounces Is mine operators have made every ef- quarts carries from one to three owned operations are to be continued. the other parties In the at 81 the knew ounce, by that the only completed authorities also per to best believe to It "The silvdV. obtain In fort Some of the vein reductions these ounces of operators place In the world where a volume United States government will, ac- make a frank statement of the exist- Items, but they are still so Inconsis- matter shows copper stains. Mr. suit Messrs Gatley, Richter and Melhlich contested the patent and of silver existed above the ground cording to the director1' of the mint, ing conditions for the Information of tent with the metal market sltua- - Dern considers this the best pros- - several days were taken up In the sufficient to satisfy the demands neither gain or lose, although there all Interested and have authorized tlon that wage reductions are pect that has been encountered on trIal o eua whlcll wa .fcwl both of India and China was the is, according to the same authority, me to make the facts public. absolutely forced. the 1800 level and thinks that the under advisement by Judge Hanson. a small profit of 8692,068 In manuUnited States treasury. "Copper production ceased to be "Many of the mines have already possibility of opening up an The courts decision was made public "Negotiations were started In facturing silver dollars Into sub- profitable In this state months ago ore shipments and the tant deposit Is good. week and the plainthe during order to release some of the large sidiary coins under the terms of the and recently lead prices dropped far others are Inasmuch as the work Is getting tiffs have past getting things In readibeen given the ground quantity of sliver stored In that Plttmsn act below the cost of production. Even ness to shut down In the near future near the Godlva side line and the which was In conflict with the Tin-ti- e The silver producers of "Thus the United States govern- our richest silver-lea- d treasury. mines are now unless a radical Improvement takes vein making Into that companys Standard's patent. the United States realised that if the ment when the terms of the Pitt- unable to operate profitably, as place. territory, there Is a possibility that government kept Its hands off the man act are carried out will have Godlta company may assist In the same silver market their product would In Its treasury exactly the of this showing by Rio Grande Will Build the prospecting command as proportionately high a number of sliver dollars that It had Lehi-Tinti- c Shaft Said Tintic Receives Liberal from- - the 1800 level of the working of and as the such before the act, as Road In Salina Canyon other products, operation price One day last week, acTo Show Mineralisation Amount Of Advertising May Day.to Mr. wheat, cotton and steel. They, will have maintained and slightly was Dern, by cording spent therefore, formed associations and added to the profit made through Jackson McChrystal In Inspecting the Some time ago it was announced sent representatives to Washington seigniorage, and will have kept In the week, when the shaft formation opened up In the May Day. that the Utah Central Ry. company "Tlntic silver Early leading producing to present their view of the situation, faith. at the Lehl-Tlntproperty of North camp of the United States for 1920. Mr. McChrystal was so Impressed would build a line from Juab county - "The Pittman act was undoubtedAs a result of these discussions, conTlntic was nearing the 400 level It The above Information is being by-- the showing, according to Mr. to the new coni fields In Salina Canbetween the act in a' solemn agreement ly gress passed the Pittman encountered a mineralised formation printed In mining publications In; Dern, that he expressed himself as yon and now comes the announceregovernment of the United States, April, 1919. which was full of bug holes and all parts of the country. It was favorably disposed to the Godlva ment that the Rio Grande Ry. wlU "Meanwhile the price of sliver had presenting the people of the United other promising Indications of ore. first 'given out in our columns a few company prospecting this fissure, Immediately start the construction of and silver the producers gone down, but as a result of the States, Zabrlskie, howevbr. Is not weeks ago and since that time It has Furthermore, he stated that he of a line through Salina Canyon. The Manager passage of the Pittman act the price the United States, which was faith-- ! expecting any Important change until been published a dozen or two times would take up with the Godlva Rio Grande, many years ago, surwas temporarily fixed at 91.01 K, fully adhered to by the silver pro- the shaft reaches a of about in papers which are widely read. It directors the matter of doing this veyed and started to build a line depth now be should and faithfully 500 feet, when drifting will again be ts this sort of and remained at that price for ducers advertising which can- work. through Salina Canyon to Green several months, until all the silver adhered to by the government of the taken up. There was some not help but prove beneficial to our trading Operations at the Tlntic mill are River, but abandoned the project AoStates. United were melted. called dollars 'for In Lehl-Tlntstock during the past district To lead all of the other moving along In a satisfactory man- after a few miles of road had been week, the activity being .the result mining camps of our country In the ner considering the lethargy which constructed in Salina Canyon. It Is of the showing In the shaft, some of production of silver for a single Is affecting all lines of mining not known whether the company now the men on the companys pay roll Is a record of some Importance deavor, said Mr. Dern. At the new Intends building through to Green and Tlntic people have Just reason j Tlntic Standard plant the machinery River or going Just far enough to ordering small blocks of stock. - Is Umbering up very satisfactorily serve the new coal fields. The plans o for being proud. and an excellent tonnage is being of the Utah Central have not been to friends When write you your Business Men Delta In In other parts of the country dont treated- changed and there may be two lines Favor Of Surfacing Road be afraid to tell them something With the progress that Is being to the Salina Canyon coal properties. about Tintics resources. Tell them made In the treatment of ores, the 0 At a meeting of the business men what the district's record for 1920 future of the mines of the Tlntic Silver-LeaMines Of d of Delta and Lynndyl, held a few was with reference to the white District wUl Improve Immeasurably Is Mr. Derns prediction. Especially days ago, the matter of surfacing metal. Coenr d'Alenes Closed with the present high cost of operathe auto road from the latter place tion, railroad and smelting rates, to the Juab county line was up tor Reward For Dividend SPOKANE, Wash., March 19. milling Is attractive to mine discussion and It is generally underTotals $1500, tors. There Is an enormous ton-jna- The Hercules and the TamXrack and stood that the work will be taken of low-graores In the Tin- - Custer, two of the biggest silver-lea- d up at once and hurried through to mines in the Idaho Coeur District tic reward The offered for the to good values in carrying of This slayers road, completion. piece ' will close Sunday, laying When lead. and dAlenes, copper, P. Westerdahl L. Peterof gold silver, and John gether with the highway which Juab to incounty is building through the Tlntic son In the attempted holdup of the the cost of milling Is reduced to a off about 700 men, according In Spokane. received will come In for a lot of Tlntic Standard store at Dividend, minimum and the recovery increased, formation j Valley, two conditions said to have been, Metal market conditions are Said to travel during the present year and March 9th, now totals 1)0. This figure was reached last Sat-ih- p even at the present time, very nearly be the reason. Both of the mines lit Is thought that most of the Mil-, liard county travel to and from Balt urday when Jol .Munson, proprietor achieved by several processes, the have been shipping ore to the smeland Is at ter It Washington, mines. of Tlntic Northport, In wounded Lake will eventually be diverted; of the store, prosperity additional 2500. thought, should be assured for a that plant, too, will close. It is exthrough the Tlntic District. Juab the affray, posi pected. Provo with long period of years. county Is Just completing a road Mr. Manson li through the Tlntic Valley at a cost his family but Is reported to be reHe says he will Break To Compressor of more than 880,000 and Millard covering rapidly. Sugar And Flour Taken county officers have promised to give up his residence at Dividend, Centennial Work From Fennell Warehouse over Stopped put their, part of this new road In turning, the store management to others. splendid shape for travel. While repairs are being made to There Is no question but what the the big compressor underground Last Monday night a burglar new auto road. If the Millard county broke Into P. J. Fennells warehouse, operations have been suspended at which Is located near the Rio Grande people perform their part of the the Centennial Eureka mine. The work In good shape, will become break took place early in the week depot, and stole about four sacks popular with the traveling public. sacks of flour. and parts of the compressor had to of sugar and as many It shortens the distance between MilWith the aid of some kind of a bar . Lake for to sent be Salt repairs. centers of lard county and the popuwas pried loose. The ofWork will be taken, up as ususl the lock lation in Utah And Is a road that, were notified of the affair and ficers within the next few days and percan be kept open for' motor travel made a thorough Investigation but next not later than Monday. haps winter. throughout the there Is evidently no chance of getTlntic people are pleased to hear ting a line on the burglars. IN USE. GOLD COIN that Delta and Lynndyl residents are I o 'some road of of time in the development the the demanding the surfacing J. William Knight has been from Lynndyl to the Juab county phosphate ground, on which he and The banks Denver, Colorado, line. The road Is through a sandy: his partner have secured a govern-formatl- have started lasslugold coin out selected to succeed hiq father as tho for a part of the distance ment lease. Phosphate is valuable with silver 'urrency and It is 'president of the Knight Savings Jk and must have attention or- - It will for fertilising purposes and In generally und itood that gold wUl i Trust Co. bank at Provo. The new be of no value to the traveling various parts of the west It is being again be clrci iated In the western president has been a director In the mined very profitably. states as In pre-wa- r days. I bank ever since Its organisation. public. u Elmer Duncan of Eureka has filed a suit against the Central Standard Mining company, alleging that 92800 la due him because of the failure of the mining company to live up to Its contract. Duncan took a contract to sink the Central Standard shaft and in his complaint he states that the Central Standard people failed to furnish the necessary equipment for handling the water. The ease will come to trial at Salt Lake City and It Is reported that another suit, similar In nature and Involving 91900, has been filed by Jack Aho, also a local mining contractor. ar end-den- divl-plctu- . , Metal Announce Wage Reduction . ' lmpor-suspend- ic I le . en-ye- I ge de i ; - on . |