| OCR Text |
Show I The Market and the Mines. Activity and a number of large sales have marked the opening of the week in the commercial com-mercial stock and bond market. Up to the time of the closing of the books Wednesday for the Idaho Sugar dividend, there was a heavy demand for the shares and large blocks changed hands at from $13.65 to $13.75. The half million of new stock will be issued to the stockholders at par after Nov. 4, and investors have been trying to buy the old stock to get the privilege of taking one-sixth of their present holdings in the new issue. All of the sugar factories are in operation. Estimates place the output of the Idaho plants at from forty to fifty million pounds, while the Utah Sugar Co. and the Amalgamated will do about as last year. Con. Wagon is firm, its strength being attributed to large sales of machinery ma-chinery to the farming communities and good collections. .Bonds and bank stocks are strong. The following quotations up to Wednesday evening eve-ning are furnished by John C. Cutler, Jr.: I Bid. Asked. Amalgamated Sugar Co., pfd.... $101 00 $102 00 Amalgamated Sugar Co., com... 193 00 195 00 Beneficial Life Insurance Co 100 00 100 50 Barnes Banking Co., Kaysville... 125 00 130 00 Con. Wagon & Machine Co., pfd. 108 00 109 00 Con. Wagon & Machine Co., com. 97 00 98 00 Commercial National Bank 110 00 115 00 Dcscrct National Bank 290 00 292 00 Deserct Savings Bank 360 00 365 00 Davis Co. Bank, Farmington 118 00 120 00 First National Bank, Ogden.... 275 00 280 00 First National Bank, Murray... 115 00 120 00 Home Fire Insurance Co 165 00 168 00 Lcwiston Sugar Co 14 75 14 85 Lehi Com. & Sacings Bank 118 00 120 00 National Bank of the Republic... 130 00 135 00 Ogden Savings Bank 180 00 190 00 Provo Com. & Savings Bank 142 00 150 00 Rocky Mt. Bell Tel. Co 91 00 92 00 State Bank of Utah 167 00 168 00 Sanpete & Sevier Sugar Co 11 35 11 40 Sugar City Townsite Co 170 00 180 00 The Utah Sugar Co., pfd 10 95 11 00 The Utah Sugar Co., com 6 00 6 05 The Idaho Sugar Co 13 70 13 75 Thatcher Bros. Banking Co., Log. 122 00 125 00 Utah National Bank 162 00 165 00 Western Idaho Sugar Co 11 25 11 30 Zion's Savings Bank & Trust Co. 175 00 180 00 Z. C. M. 1 173 00 174 00 Western Idaho Sugar Co. opts... 11 40 11 45 Sanpete & Sevier Sugar Co. opts. 11 60 11 65 BONDS. Church 102 102 Salt Lake City Railroad 102J4 ..U2j4 Salt Lake City R. R. 2d more.... 102 1024 Sumpter Valley Railroad 103 105 Utah County Light & Power Co. 100 102 MINING EXCHANGE. While the market for mining stocks has failed to keep up the pace of the previous week, the general tone is excellent. There is not the slightest reason to fear a relapse to the stagnant conditions that held during the spring and summer. sum-mer. Trading is active, prices are satisfactory, and the market responds readily to authentic news from the camps. Ten leading shares, which sold last Thursday for $3.0554 were worth at the closing Wednesday $3.02, a loss of only 3 cents during the week. Five of these stocks had advanced ad-vanced and five declined. New York was foremost fore-most on the "marked down" counter, dropping from iy2 to 13. Carisa went from 19 to 16 bid; Uncle Sam from 35 to 34, Lower Mammoth from to 17, and Beck Tunnel from 15 to 13. Con. Mercur merrily froliced up from 55 to 59, Star Con. twinkled from 12f to 14, Silver Shield sold at 106 at the beginning of the week, but scorned at the end; Eagle and Blue Bell soared from $1.1254 to $1.15, and May Day registered regis-tered a little gain of two points. .Shares sold numbered 134,133, as against 157,831 for the preceding pre-ceding week; the value was $45,707.77, as against $50,589.29, and the ore and bullion settlements, $518,550 against $442,350. Settlement of the litigation between Col. Wall and the Utah Copper Co. should have a -beneficial effect on coppers. Mining men got together at the Commercial club Wednesday and began to lay plans for effective work at the American Mining congress to be held in El Paso in November. No-vember. BINGHAM. The differences between Col. E. A. Wall and the Guggenheims have been settled and there will be no further objections to the increase of the capital stock and the issuance of bonds by the Utah Copper Co. There is no longer a question ques-tion that the Smelter Securities company will exercise its option and thereby come into control of the Utah Copper properties. Col. Wall and associates have asked the United States District court to reinstate the injunction restraining the United States Mining company from entering upon the property in dispute between them, pending pend-ing the decision of the United States Supreme court on the appeal taken from the U. S. Circuit court. Reports presented at the annual meeting of the United States company at Portland, Me., show that the net earnings for the year ending June 30 were $1,092,987; the cash and bullion bal-lance bal-lance $1,600,000, and the surplus $311,723. During Dur-ing the year ending Oct. 1, 1905, the smelter produced pro-duced 71,445 ounces of gold, 2,107,956 ounces of silver, 14,965,438 pounds of copper, and 10,200,-826 10,200,-826 pounds of lead, with a value of $5,300,000. The Fortuna is now following a four-foot vein on the Freedom level, which carries 35 per cent lead, 8 ounces silver and .08 ounces of gold to the ton. The new gasoline hoist is ready to go inte commission. Among the reasons assigned ,Hj for the phenomenal advance in the price of Bos- iH ton Con. stock is the liberal offer of site and H water made by the American Smelting & Re- fining Co. to induce the Boston to build its rcduc- HH tion plant at Garfield instead of Bostonia. An- iB other shift has been added to the force at the iB New England mill, which is producing nearly two cars of high grade concentrates every week. The New England company has just acquired Hfl the Saturn claim, which covers the strike of its PARK CITY. Blue lime is coming into the bottom of the lB Silver King Con. shaft, and this is taken as a cer- 5 HI tain harbinger of an ore body. It has been found ; Bjfl necessary to start a new drift around the final cave in the Ontario drain tunnel, as the former drift was in such loose ground that no timbers 'lB would stand the pressure. The tunnel now being (91 driven is in solid rock, and, while it will be longer tRI and more expensive than the one recently aban- doned, will be of more enduring value. By , means of a process now in use in Salt Lake City ' BHB for reclaiming the zinc and iron from mill tail- JH ings, the dumps of the Daly-West and Daly- jiS Judge can, it is demonstrated, be made to yield a ' small margin of profit. 1 01 , -With its recent small assessment jR of 1 cent, practically all in, and good progress WM being made in the main incline toward the Wm porphyry dyke that marks the contact the stock- mfm holders in the Scottish Chief are most optimistic. j (GH Supplies have been laid in to last the winter i MB through ,and 150 feet of work will bring the in- 1 M cline well into the mineralized avenue that has Bfl long been known to exist in the Chief ground. ftfl Daly-West's monthly statement shows $95,279.54 Bfll for sales of ore, $51,716.90 disbursed and $43,- i E9 562.64 net earnings. 19 The Paymaster in Washington county has ID just marketed eighty-one cars ofv copper bullion. KB The ore came from a vein eighty-four feet wide ', P that averages 33 1-3 per cent copper. HI President Samuel Newhouse has just an. Wm nounced in Boston that the Cactus mine is to be ' flffif quipped at once with a steam shovel which will ? M&l begin work on a surface deposit of copper ore 300 99 feet long by 180 wide, that will yield 4,000 tons 9jfl for every foot of depth. MB Four iron claims in Box Elder county near fSffl Willard, Utah, have been leased and bonded to j9 Dr. LeCompte of Park City and others for $30,- figg 000. The ore contains from 60 to 66 per cent ?Sl iron and some gold, and can be placed on cars ijn for $1 a ton. uuj |
