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Show MINING AND FINANCIAL H One looks at the shipping record and the other H reports from the mines of Utah and wonders at H the slack demand for shares on the mining ex- H change. Then one examines the condition of the H money crop and is astonished that a loose dollar H is to be found with which to buy stocks. The H stockbroker is up against the old problem of ex- H tracting blood from a turnip. Men admire his H offerings; speak most praisefully of the earning H capacity of the mines and finish by lamenting that H' they have not the wherewithal to buy. It is fierce H this local money famine. The local banks H have raised the interest rate on farm land loans. H That action shows where a good deal of the H ready cash has been going, but we must not H forget the money that has been expended for H building -materials and construction. H H The present week started off as if the mining H market was to enjoy a- fraction of its normal ac- H tivity. Traders decided on second thought that H the passing of the Iron Blossom dividend would H not be such a great calamity in view of the con- H stant additions to the property's resources. It H is not yet conceded that the quarterly dividend H will be passed. It may be posted at the June H meeting of the directors. But everyone is pre- H pared for the worst and this week'a prices have H been made on the theory that the dividend will be m passed or cut in two. Current valuations on the H stock are based chiefly on known facts as to Its H physical condition. Some of these facts were glv- H en out by the manager, J. Will Knight, on his H last visit to iSalt Lake. He said that the copper M content was increasing in the ore mined at the H 100 level of the South workings to such an extent U that the company Intended to market a carload H from this point every two weeks. The rock now M being taken from the parallel vein to the south- H east, known as the "Gold" vein, is carrying about H $15 in gold and $16 in silver to the ton. It is bear. H ing off strong on the 500 level toward the south- H west. The crosscut on the GOO level will soon 9 cut the ore. H In the North workings, said Manager Knight M the company is stoping from the 500-foot level in M typical silver-lead ore developed in sufficient quan- H tity to Insure production for several months. This H assurance, in the face of well defined rumors that H the deep work from the North shaft had been a H disappointment, did as much as any one thing to H1 stiffen the price of Iron Blossom. I' A belated start has been made by the Colorado company toward fathoming the mysteries of the lime underlying its huge ore bodies. The central shaft, with all Its output, was hardly 300 feet in i depth when the new development campaign was inaugurated. Seventy-five or eighty feet has been ml added to its depth and the plan is to sink without Hf delay to the 600 plane. There is no expectation of H. getting new ore in the shaft. The engineer who H is directing the campaign, bases his hopes on H the demonstration that will be made by drifting H and cross-cutting on the 600 level, or deepe". The M : ) Beck Tunnel, for the time being, has given over M its fruitless explorations in the lime at the 1100 B ' ' and 1200 levels and is now seeking a continua- H tion of the old ore bodies on its 300 level. Since H ( the Beck has been forced to assess its stock it 1 ' has been impressed with the wisdom of using M such funds as are available for development in ground of proved character. The tempting, but H deceitful, recesses of the earth must remain un- M charted until a new shoot near the surface pro- Hj vides means to keep the pot boiling. m Reports from the Nevada Hills at Fairview may be discounted liberally and will still leave ample margin for the advance that has taken place in the market price of the shares. Up to a fortnight ago quotations on Nevada Hills were predicted on the merits of its properties as producers pro-ducers of concentrating ore in large quantities. It was only in that capacity that they were recommended recom-mended to buyers. The milling tonnages are still in sight and there has been added to them as clear gain a drift-wide shoot of shipping ore averaging for its width from $87 to $117 a ton. The old vein from which the Nevada Hills dividends divi-dends were paid four years ago, has been picked up east of the fault that interrupted its profit-earning profit-earning career. The ore has been opened for fifteen fif-teen feet on Its strike and keeps good. Barring another fault zone the company should be soon accumulating profits. For fifty cents one may get a chance in the latest strike of the Columbus Consolidated at Alta. In order that no buyer shall have any advantage over any other buyer shall have any advantage has nothing to say of the strike except that it may amount to nothing. Those who have invested in chances cherish the vague hope that the discovery dis-covery is the long-lost extension of the big 200-foot 200-foot level ore body. That would be a capital prize worth competing for. But, remember, the management man-agement makes no promises! Take it or leave it. No one gets his money back unless he wins. Cedar-Talisman and Lower Mammoth, the erstwhile erst-while darlings of the stock exchange, have fallen into the wall-flower class of late. It is hard to say why. The Cedar-Talisman is loading two cars with ore preparatory to the beginninfa of regular production and the Lower Mammoth is proving that the lense of ore lately found on the 2000 level is going downward with its highest values. To a casual observer the condition of both, properties appears to be highly satisfactory. In any event they promise to be heard from soon again. Carisa's find of lead ore in a raise from the 500 level southwest of the Spy shaft is likely to put that mine back into the shipping class, for a time at least. Its copper indications have been improving im-proving for some time and the development of shipping ore in the copper zone would have been less of a surprise than the discovery of pay values in an entirely different class of mineral. |
