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Show ;Th& Market and the Mines j Rumors that the Bock Tunnol mining com pnny will pass its next monthly dividend camo as H; a shock to the followers of J;he' $tock. exchange l although the fact had boon anticipated and dfe-, j counted by the inner circle. Faith in theper- Hj petuity of dividends had been firmly established by numerous Interviews vith Uncle Jesse Knight HHl Either by accident or oversight Mr. Knight failed to tip the public that the month of brides and BMi roses might not be a month of profits for Bo6k i stockholders. Maybe he did not know it him self- There is on record an intimation that the suspension of dividends if it occurs, will be dud Hj l the shortage of ore teams and the temporary clqso-down of the United States smelter, diffl- c.ulties that could not be foreseen by Mr. Knight HH But again there are those who admit that the L extraordinary expenses incidental to the sinking H'! f A new working shaft would have absorbed all the earnings of the mine even though transppr-iR transppr-iR tation and treatment facilities had remained 22 iH carats line. The latter condition is one that coul'dr Bf hardly have escaped Uncle Jesse's notice and if 1 lt could be shown that he had authorized the uoo Hl of th.6 dividend fund for .improvements at' thg k time he was assuring the stockholders of unin- terrupted profits the stockholders would nave H' something coming a kick, perhaps, instead Of a H' , dividend. ,H & Hj'' Fortunately, in view of Mr. Knight's absent- mindednoss, the public is not entirely dependent upon him for knowledge of the present condition HH ! and futuo prospects of Beck Tunnel. Informa- HjH tioii that the ore channel is mighty in size and rich In values comes from so many sources that only an incorrigible pessimist can argue to- the' H; contrary. The very abundance of its resources makes necessary the local improvements which HHj are reputed to have put dividends on the swine train The wonder is that the company has suo- Hf , ceeded in a year and a half in getting out onougjl ore through a single compartment shaft and with a xlinky little engine to pay half a million in Hj profits to the shareholders. It could never have Hf been done if the ore had not averaged more than the common run of Tintic ore in value. The new i working chaft, a double-compartment affair, is al- ready 30 feet deep and heavier machinery has been ordered. After allowing a liberal estimate for extraordinary expenses and granting that div-idends div-idends may be passed or reduced for several months those of us who are merely spectators fln(i it difficult to squeeze out a tear of sympathy for the owners of Beck stock. Shares have lben chGap ridiculously cheap in view of their earn, ing power and the buyers will be to the good even though they wait until Octobod for another 4 per cent Qo to the Honerine, thou kicker, study its ways and be thankful! H. it j: The man who bought Honerine at its late price of 2.5f now has 36 cents worth of stock antl $12.60 worth of holler. If he can get $2.60 !i satisfaction out of his holler he is 36 cents Hi ahead of the game. These figures have not been mSt verified, but they are approximately correct. Hk Goodwin's Weekly does not know very muoli about the condition of Honerine. In that respect Hji i( Is' just as well off as the stockholders and' It aqquired Its Ignorance without paying for it, in Hl which respect it is better off than the stpckliold- ers. The latter -have been holding indignation i meetings at which the officers and directors of H; the company have been roundly scored for their WEw reticence. "Why." ask the stockholders, "should Euji' we come In with one 20-cent assessment and Ilea- ven knows how many more when we have nothing official as to the condition of the mine ami no assurance that the assessments will bring any re- turn?" The management Id content to let the minority believe that reports are withhold in order or-der that the sensitive' feelings of the buyers may not be needlessly harrowed. But the minority construes this humane desire to spare it pain as evidence of a plot to freeze out the minor inter ests and later rovivo the company as ,tbjj hjg pin of a big Stockton merger. 5 X More encouraging than the 100 per cent, of silence that constitutes the present output of Honerine is the word from the New Stockton. Here the concentrating mill has been enlarged until it has a capaoity of 100 tons a day and the demand for the stock on the curb Indicates' that the ore reserves are equal to the task of feeding the plant for a timo at least 6 & Two thrilling, melodramas held the boards on the stock oxchange last week. There was "The Curse of "Carisa" and "The Rise of the Wabash." Both, plots wore intricate and complicated and introduced many fire scenes and gunpowder effects. ef-fects. In the case of Carisa the designated villain vil-lain seemed to be a gentle bear who conceived the amiable plan of letting the stock down into a deep, dark hole. Poor persecuted Carisa was almost out of sight at the 3'6-cent level when a gallant company of bulls' came to the rescue and SJ raised her to 51 whereupon they lived happily ever after. When the curtain went up on the Wabash play it disclosed an old mine suffering from dropsy and. selling for 13 cents. In the second sec-ond act the dropsical formation is tapped by a drift and discharges one million tons' of waters all highly mineralized. The grand climax comes when the news reaches Brokers' Row. "If the water is eliminated from its system it is saved!" exclaims the hero. Thereupon the mob rushes in from the wings and wildly offers 20-25-30 and 35 cents for shares. & & Although Its mammoth plant at Garfield is not yet open for busines the Utah Copper com-pany com-pany is adding materially to the world's supply of 25-cont copper. The re-equipped mill at Bingham Bing-ham is the medium by which the crude ore is prepared pre-pared for the smelters. During May the mill has handled an average of 800 tons a day. This is within 200 tons of its estimated maximum capacity. ca-pacity. A 'daily output of 800 tons does not seem j very large to us- now because we have heard so muoh of the 6000-ton Garfield plant, but If we had to carry 800 tons up from the coal cellar we would realize that It is quite a bit. In fact it Is a new record for Utah Copper. Bingham has a new shipper in the Bingham Mary, a Bamberger property. The first lot, consisting con-sisting of a carload, went to the Utah smeltor at Ogdon this week. If the stuff makes good the Mary, will become a steady producer, for it has a large quantity of ore of identical grade ready for extraction. It has also completed a new tramway conecting the mine with the loading station. & & & Since his return from Europe Samuel New-house New-house has confided to the public that he has recently re-cently invested a million dollars in shares of Boston Con. and Newhouse Mines & Smelters. Even after this outlay Mr. Newhouse is able to Q continue work on his two Salt Lake akyscrappers and hire the washing done all of which proves, not only that he has confidence in Utah mines, but that Mr. Newhouse Is a very rich man. His return home was balm to the minor stockholders in Emma Copper. One of Mb first acts was to dispatch his expert to Alta. The export examined ex-amined the showing in the Emma workings and marked them O. K. Emma stock has shown some improvement under this stimulating treatment treat-ment but it is not yet as lusty as the stockholders stockhold-ers might desire. Reports that a contest involving involv-ing title to much of its ground is to be instituted in the United States land office explain the weakness weak-ness of the share. (it "An interesting chapter in the history of the wek Is contributed by the Federal Ely of Ely, Nevada. Tho triple-compartment shaft going do;wn on the Queen of the West group is sur-rdiinded sur-rdiinded at the depth .of 61 feet with copper sulphides sul-phides that aissay from 5 to 10 per cent, in metal. Big as Is the working 'shaft It now seems probable prob-able that every foot of It will bo needed when the m&nagemont begins to extract the tremendous ore body now being explored. As much Federal Ely stock is owned here in Salt Lake the find is ' one which appeals to local pride and to local pockets. & & Owners of Uncle Sam stock see plainly that they did the right thing when they retained exclusive ex-clusive control of the Humbug property when the partial consolidation with May Day was proposed. pro-posed. Underground developments in the Humbug Hum-bug have been of such a character this week that a resumption of dividends is promised for July. Tho flattering reports from tho mine have also caused a great demand for Uncle Sam on the stock exchange. However tho final quotation for the week ending May 29 is the same as the first sale of tho week 69 cents. One of the striking features of tho week on 'change is tho oqulll-g oqulll-g brlum of prices. Seven of the leading Issues closed at their opening figure without the difference differ-ence of a fraction. Besides Uncle Sam tho stationary sta-tionary ones wore Bock Tunnel, $1.00; Seven Troughs, 42; Now York, 17 1-2; Butler-Liberal, 12. and Silvor King, $25.50. Silver King Coalition has sold so regularly at the above figure that $25.50 may Uo regarded as the established price Iof shares in the merged corporation. J? & Tho advances of the week include Carlaa from ! 35 to 48; Colorado from $3.15 to $8.26; Nevada Hills, $4.45 to $4.50; May Day, 20 1-2 to 81; Wabash, Wa-bash, 18 to 80; Iron Blossom, a new Tintlc flota- tlon, 75 to 80; South Columbus, $1.05 to $1.70 and Columbus Con. from $5 to $5.05. Daly-Judge went off 6 cents at $7.60, Mt. Lake was down 1 cent at 68. and Lower Mammoth down 5 cents at $2.26. The sales of the week numbered 241,188 shares and the aggregate value was $192,423.15. Settle- ( ments In tho ore and bullion market called for the payment of $433,000. |