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Show I The Market and the Mines I Some of our local traders And ' it difficult to believe that the financial and mining cataclysm of the past two months was more than a nightmare caused by a late and indigestible supper. There is nothing reminiscent in today's conditions, unless un-less it bo the diminished shipments, of the turgid tide of pessimism and despair which engulfed the If market during the holidays. One may close his I eyes and readily believe that the vein of mining . I activity he was following in the spring of 1907 I has never faulted. The volume of business on I the exchange has never been better and seldom I so- good, Quotations are leaping upward, the pub lic is developing a keen appetite for investments and the large mining companies are outlining improvements im-provements wliich, in the aggregate, assume vast dimensions. K I A UOOfti lii &o"W York Bonanza is always in- I dicatlvo of a betterment in the stock market, i Whon btheh shakos' warm up to 90 degrees Now I York slulijhors -quietly, but let the market go to I zero and f the hqys.who mo loblcing fpr a good l pjaco to fake hold and give it a new lift always gat their hands on Now -York. The fact that it has emerged from its retirement and gone up nearly 100 per cent in a week is significant of I' something more than an Improvement in its ledge I at the S00L level. It means that the booster boys are putting the jaclt-scrows under the market The falling off, In the volume of ore produced may be discouraging to some people. Tintlc made a liew low record last week, shipping but fifty-six oars. Of these, forty-eight came from the Cen-tannlal-Bureka, throe Ciiom the Eureka Hill and flVe from the Tintic Iron company. Park City shipped not at all and if Alta did anything in that line the figures are not of the sort its friends care to publlBh. There is not always, however, a vital connection between ore production and stock values. It makes a big difference whether the stoppage of shipments is. due to the failure of ore bodies or, as in the present instance, to general business conditions. Some of the keenest traders find in the closing of the big mines an additional inducement to buy. "When a property is market-. market-. ing at its normal capacity," they argue, "some luoky chance, something out of the ordinary, is necessary to advance its stock. When the property prop-erty is prqducing less than its capacity, or nothing at all, a return .to normal conditions is sure to bring about a big rise In value. The Utah mines will loqn resume their natural level, so this is the time to buy." Now that the banks have resumed cash pay-mints pay-mints the St. Joe company should pick up. It ' carried accounts in the Commercial National bank and the Deseret National bank. While the financial finan-cial stringency was stringing the St. Joe, like other depositors, could draw nothing but clearing house certificates With the return of confidence all its funds are available in lawful money of the United States. If it needs it the company can withdraw its whole $1.42 from the Commercial National, and the Deseret National is ready and willing to pay over without notice and in specie all of the 92 cents the St. Joe has on doposit there. It may bo snobbish to taunt even a corporation with its poverty, but when the poverty is due entirely en-tirely to the foolish bellicosity of its stockholders sympathy would be wasted. The law of compensation has come to our rescue. Wo are deprived for the present of the entertaining and picturesque F. Augustus Heinze, but In his stead we are to have the hardly less entertaining and picturesque Lawson. "Lawson!" The name is a household word throughout the West There is no village or hamlet reached by the daily newspapers wliich has not heard it. There is no cross-roads store or ward co-op in which the exploits of Lawson have not been told with bated breath. The village yokel who has been to Salt Lake and seen him make his hair-raising hair-raising sprints around the saucer track is a hero basking in Lawson's reflected glory. But, gentle reader, the Lawson who is to tako Heinze's place in the spot light is not the distinguished winner of a thousand endless pursuits the redoubtable Iver. He is. not even a relation. The subject of this sketch is Thomas W. Lawson, a man fairly well known in Boston. He is different from the ordinary man chiefly in the fact that he has a remedy for all our social and industrial ills and refuses to tell what" It is. According to the newspapers news-papers this bearer of an honored name has herded into the same corral the Utah-Nevada, Trinity and Balaklala Mining companies and will soon brand them with the mark of the First National Na-tional Copper company. This part of the performance perform-ance is tame enough, but the remainder of the program is said to be worthy of Iver himself. Thomas proposes to throw them and blindfold them, mount all three at once, ride thom going and coming, sitting and standing, and in all directions di-rections at once, thumb them, spur them in the neck and bite them in the oars. If he makes good with his stunt we may forget the absence of our adored Augustus. Lawson will have to hurry, though. The advance ad-vance agents say that Augustus Is in Boston preparing, pre-paring, regardless of expense to his friends, to act that will relegate Lawson to the "My lord, the carriage waits" class. Heinze, the story is, has concentrated .his energy on the building of the. new smelter west of Garfield and has raised a half million dollars as a nucleus for the financing ol the enterprise. In his campaign for rehabilitation he will have the co-operation of the Utah Mine Owners' association, a body of .considerable size and inconceivable velocity when it gets to going. The same causes that brought the Utah mine owners into close fellov-Rhip have been effective in Montana in bringing the metal producers of that state together, and there, as here, the smelting smelt-ing problem has been attacked as the most urgent issue before the. house. There a great impetus has been given the movement toward independence indepen-dence by the enlistment of Senator Clark. He knows something about smelters, having a few of his own, and his advice will be as valuable tQ the Montana association as his millions. It is inevitable that the various state organizations of mine owners shall form mutual connections and work in concert, and when this comes about Utah will profit by the abilities of Senator Clark as Montana will profit by the knowledge and wealth of our strongest mining men. Having nowhere else to look, the miners of Park City are watching the work In the Ontario tunnel with deep Interest. When the tunnel is reopened and the pressure of the underground deluge is relieved the Daly-West will lose no time ' in extending the bore into its ground and in penetrating pene-trating the lower reaches of its ore bodies. The last drill hole punched into the drain tunnel from the parallel bore is yielding a copious stream of witer, a development that mightily encourages the workers. The mystery of the Wabash has been solved. That sudden and phenomenal rise in the price of its securities Avas the rosult of a strike made in new territory. Samples taken from the face of the drift gave remarkable returns in silver, quantities quan-tities of lead and some copper and gold. If the shoot continues for a reasonable distance the Wabash will have a body of genuine shipping ore, and this, too, at a place remote from the familiar bonanza veins of the camp. |