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Show in 1 The Market and the Mines ' The Silver King minor are resting, but there is no rost for Uio Silver King lawyers. It ia up ; , to thorn to explain that tho company did not ox- . met 10,000 tons of ore from tho Conkling and Ar thur claims, and, if not, why not. The lawyers Will havo to explain it thoroughly, too, .to satisfy - Obi. Nicholas Trewoek and Leonard Burch. Col. Treweok did not see the ore taken that is one of the grounds of his complaint nor is he certain that tho ore is gono ho hasn't looked, but he has it on good authority that the Silver King could have takon the ore, Honco he wants the man-' aemout to admit that it was takon or show cause why it wasn't. At first glance tho issues in the case may seem a little complicated, but they are really very simple. Messrs. Treweok and , Burch own an undivided throo-fourths interest in the two claims and the Silver King owns tho re- : maining fourth. The Alliance tunnel of tho King company starts into tho mountain not more than a. mile "and. a half from tho Arthur and Conkling. Conk-ling. ConstdoA'able oro ;hns' been coming Out of the tunnels and the4 defendants- will not lot tho plaintiffs go' in and see whore it comes from. Un- suspecting as ho is by nature, Col. Treweok thinks this a suspicious circumstance ' and has-' resorted to the courts, setting up a 'claim to three-fourths of $400,000 just to make tho suit interesting. & John Smith, who owns one hundred shares of ! tho capital stock of tho Colorado Mining com- ! pahy, is proudly flashing a $6 bill. You are per- foetly welcome to a drjnk or a cigar out of it for ib is, John says, Easy Money. Ho did not worn i a' minuto for it. Of course ho worked for tho 1 two hundred and odd dollars that enabled him to draw down tho easy money, but, ho philosophically philosophical-ly explains, if he had not invested It in stock the I money would have slipped out through the hole in the top of his pocket and he would have been forever ignorant of the color of this easy five dollar dol-lar bill. John is not of the breed that holds on to this month's Ave dollars in the fear that there I will be no remittance next month. Ask him Ir he does not apprehend the passing of the next dividend and he will come back at you with some texts such as: "Sufficient unto the day is tho evil thereof," and, "Eat, drink and be merry, for tomorrow you die." Notwithstanding his pagan philosophy and apparent recklessness John Smith is good for tho mining industry and the mining industry is good for him. The John Smiths of Salt Lake are shoving their louse change into the market now. The wise and prudent ones will come flocking to the exchange a few months later , when prices double or troblo. . Ill IIIIBII "Stamp! Stamp! Stamp! the ores aro leaching!" leach-ing!" is the refrain which floats over the hills from Garfield. The patriotic molody has Its on-gin on-gin at the plant of the Boston Con. mill, now In the spasms of its premier run. The bins are filled with porphyry from the 58,000,000 tons of low grade ore available at Bingham and you would never know that any of these tons had been removed re-moved unless you stopped to count them. With tho Utah Copper company dealing out its three million pounds a month, the Boston Con. handling hand-ling Its thousands of tons of crude ore daily, the Yampa working to the limit of its enlarged capacity and the Cactus producing the cheapest oro in its history it is solf evident that the copper cop-per companies of this state have adjusted themselves them-selves to tho conditions which prevail in the motal market and will keep the Utah field from lapsing into Idleness and stagnation. So long as copper brings 13 cents a pound the Utah producers, with their C, 7 and 8 cent goods, will be able to make money. & & & The Boston, we learn from its annual report, re-port, marketed the contents of its sulphide ore in 1907 at an average cost of 8.G5 cents a pound. With the subsequent reduction in wages and tho economies incident to heavier production this cost can bo cut at least one. cent. The Cactus, after paying for the treatment of its sulphides and the smelting of Its concentrates, is out only 74 cents a pound on its merchantable copper stock and stands, at present quotations, to earn 5 cents, or 87 per cent., net profit. Stockholders in most business enterprises consider 37 per cent a very fair profit. & & It is perfectly clear from tho language of the . court decree that the American Smelting & Refining Re-fining plant at Murray will be permitted to operate oper-ate so long as it does not permit its furnace charges to run over 26 per cent sulphides and takes precautions to collect tho sulphur and arsenic ar-senic fumes in bags and bottles, but the bearing of the decre( on other smelting companies is not so clear. There is an impression in many quai ters that tho agreement between the American company and tho farmers throws tho gates open for any other smelting company that may desire to operate on the same terms. Discrimination is repugnant to all the principals of law and in as senting to the conditions under which the trust is to do business tho farmers tacitly admit that those conditions are equitable. If they are equitable equi-table there is no legal ground upon which smelting smelt-ing in conformity with them can be objected to. Upon such reasoning is based the theory that the United States and the Utah Con. can stay in business busi-ness so long as they observe the rules and regulations regu-lations to which the American company has given assent. The next question is: Does the United States company want to stay in business? If it is true .that the old rivals have reached an amicable agreement the United States has, probably, no ir- " resistible desire to keep its works going. & & Dividends for January are mostyl on the' wrong side. Colorado has come through with five-; cents a share, which is one cent less than the 1 December distribution, and the old reliable Utah mine will have declared its two or three cents by the time this is in print, but the Silver King,1; Lower Mammoth, Grand Central, Beck Tunnel and ' other performers aro neglecting to perform. Black Jack and Ingot are touching their stockholders ' for the coin to carry on development work and the Lower Mammoth company is about to repeat its convortible-bond-issuing stunt of a year ago. With the conversion of these new bonds the , Lower Mammoth will be stocked for 250,000 instead in-stead of 190,000 shares. It is evident that the company will, if it keeps up its present rate Qf progress, attain an adult capitalization. & The local mining exchange is again able to sit , up and take nourishment. The spurts indulged in by; Seven Troughs, Lower Mammoth and Wabash are big with promise of general activity. As a result of the excitement Seven Troughs, it is said, has passed from the control of Jesse Knight and his; crowd, to the hands of Manager L. A. Friedman Fried-man and his Nevada associates. As general man- ager Mr. Friedman is in a position to know tho exact conditions under ground and his anxiety to own a majority of tho stock is taken as a sign that the mine is on the verge of important disclosures. dis-closures. Lower Mammoth's sprint can be attributed at-tributed only to the knowledge that the treasury is to be -replenished by tho sale of bonds. As for the Wabash boom, there is no interpretation thereof. President Treweek speaks in parables and others who might be suspected of pressing the button, do not speak at all. .J & & When the daily papers wore filled with stories of a big strike in the lowest lovol of tho Opex at Tintic It was surmised that F. Augustus Heinzo, who owns a big block of Opex stock, had changed his luck, but later reports do not bear out the original rumors. It is imr ;ble to find anyone In authority who will stand for the statement that the Opex has found the Centennial-Euroka vein, or, indeed, any vein at all, |