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Show The MarKet and the Mine? "Good and betting better," is the expression heard on the local mining exchange. It may be only one of those tantalizing spurts that have raised' false hopes so often or it may be a genuine revival of interest in Utah mining investments. The uncertainty of the thing is what gives the man of small means and the nerve to take risks a chance to slip over into Easy street. There are signs not seen during the "spurts" which indicate that the improvement will be general and continuous con-tinuous for some time to come. One of these signs is the renewal of investment by eastern men. Butler-Liberal, while it has declined some 4 cents since last writing, is very active and is at least giving its holders a run for their money. The decline from 12 to 8 cents is largely due to the onslaughts of the bears. Carisa has scored a gain of 2 or 3 cents in the past week, and May Day has dropped off a cent, selling now around 7. New York rules about the same as at this time last week and seems to be dropping out of the limelight. Quotations are in the neighborhood of 63 cents a share. Lower Mammoth is forging to the front and finds takers at 30 and 31 cents, who would not give more than 28 a week ago, and did not want much at that place. Ontario registered reg-istered a sale Wednesday at $2, 200 shares changing chang-ing hands. Star has declined and Yankee Consolidated Con-solidated has remained almost stationary at 37 and a fraction. The number of shares sold dui. the week ending Wednesday night was 204,150, the value being $38,721.72. For the week ending Saturday night the value of the transfers was only $26,-637.90 $26,-637.90 for 147,892 shares. Up to Wednesday evening even-ing the ore and bullion settlements aggregated $404,900. ' BINGHAM. The Ohio Copper company in the east drift on the 400 level has two feet of ore averaging $30 in copper, five feet of 10 per cent and thirteen feet of 3 per cent. Only one wall has been found and the full width of the vein is not yet determined. determ-ined. The concentrates for the past month show a gain of 5 per cent in value. The Mystic Shrine has followed the vein seventy feet on its strike and an output of two cars a week is promised. The Boston Consonidated Mining company will start a new tunnel to be called the Ben Hur No. 2 to prospect the north end of its ground. The Teck tunnel is in 860 feet in ore. The average output is maintained at 2,000 tons a day. Butler-Liberal Butler-Liberal directors have levied an assessment of 2 cents a share in order to raise $10,000 by Aug. 1. The money is required to meet an overdraft at the bank. The Bingham Consolidated smelter uses 175 tons of limerock a day, and a new deposit is to be opened at Santaquin to furnish an additional ad-ditional supply. The survey of the railroad line from the Boston Consolidated to Bostonia will begin July 1. A telephone line to Salt Lake is under un-der construction. The United States will extend its Niagara tunnel from the 2,500-foot station and will use it as an outlet for future production. The New England is working on four channels of ore and shipped one car of $30 ore last week. The Bingham-New Haven has resumed shipments. PARK CITY. The New York has received $3,500 for a recent shipment of thirty-five tons of ore. Federal Tunnel Tun-nel has connected with the Mazeppa, releasing a large quantity of water and draining the Mazeppa. In the Ontario drain tunnel the workmen have reached a point 4,500 feet from the mouth, where the latest obstruction has been found. An eighteen-inch eighteen-inch pipe is being placed in all the dangerous parts of the tunnel to prevent future stopages. The water in the mine has risen to the 100-foot level. In the Diamond Nimrod high-grade silver-bearing rock -has been found in quantities on the 500 level. Values run to 147 ounces. TINTIC. The Parisa has a new strike in a raise from the 700 level of ten feet of ore running 12 per cent copper, 12 ounces of silver and $3.00 gold. Fifty tons were loaded Sunday night. At the Grand Central connection with the ore body has been made on the 1,300-foot level and for thirty feet the drift has been in ore. The Raymond and Illinois properties have been amalgamated with a capitalization capitali-zation of $450,000. Drifting will begin at the bottom bot-tom of the 1,500-foot Raymond shaft. Ore shipments ship-ments for last week included 45 cars from Cen-tennial-Eureka; Eagle & Blue Bell, 11; Mammoth, 8; Yankee Consolidated and Swansea, each 6; the total was 105 cars. Tetro came in with two cars last week mined from a winze below the main tunnel. It will be concentrated before it is marketed. mar-keted. ALL OVER UTAH. On Green river, in Uintah county, Burton & Co. of Vernal have acquired 1,400 acres of placer ground running from 25 cents to $4 a yard. A dredging plant is being negotiated for Miners have been making from $4.50 to $5 a day. There is much mystery over a rich go,J rike said to have been made in Garfield county. The vein is said to be 200 feet wide and to average $10.80 in gold. The name and location of the property prop-erty are still a secret. The new air compressor in the Franklin tun- ' nel, Marysvale, has been placed in commission. Work is to be resumed in July on the Signal Peak tunnel at the head of Fish Creek canyon. Surveys are being made on the Gold Hill property, prop-erty, Deep Creek, with a view to extensive development. de-velopment. The Wyoming mine at American Fork has just, tapped its workings at 120 feet, with a 359-foot tunnel. This will save the expense of hoisting. Indications are that the Lucy L. at Deep Creek is near the water level, where better values are anticipated. Ohio capitalists have undertaken the development develop-ment of 4,000 acres of semi-anthracite coal land in Iron and Washington counties. High-Grade copper is coming into the main tunnel of the Ball Mining & Milling company in Salina canyon. The old Reed & Benson lode at Alta is to be invaded by a tunnel from the Kennebec. The old workings are full of silver and lead ore of good grade. At Park Valley the Sunrise Gold Mining company com-pany has turned out its first gold bar from the Century company's mill. Nine thousand tons o? the same quality of ore from which this run was made are said to be exposed in the workings. Values that recall old times are now being discovered dis-covered in the Burning Moscow group in Beaver county. Samples show several hundred ounces in silver, and as much as 40 per cent lead. Matt Cullen is the chief owner. |
