Show INDUSTRY ur UTAH'S AH'S HOPE sf- sf 4 Icy t rD le tv 1 rk t. t S i t I idle hand of Manning u I I II II I II I I I II I b J Same Spot fined 7 k I Io Ia th the th eat firt h hlf U of hi hll Mr runt Hunt hu has th the IoN loo br h 11 o of tw t two o of lt Ita noun oun fed end and nd lutton u i e ed ThU j t I lut half balf dea dull dale ip lly with S i I ADDRESS OF PAUL H. H HUNT HUNTI i I To Civic Clubs Club of Souther Utah HE non ferrous non ferrous metal mining T THE Industry In Utah from 1920 to 1930 distributed In wages apes salaries sal lal aries acres purchases of supplies and services in Utah or somewhat more than 1000 for each man woman and child In to the state The greater part of this huge disbursement die dis was spent within the state at least once before the money left the state which would account for more than 2000 of per capita gross groBS income which amounts to about 45 of the total gross grosa Income ot of the people of Utah having been derived directly and indirectly from th tbs non nonferrous non ferrous metal mining Industry These disbursements in Utah represented approximately of the gross value of the non-ferrous non ores produced In the state in this decade The grog grou Included about 3 In instate tate state and local taxes in fn federal taxes about 2 stockholders of ot mining companies received 8 82 2 In tn Innet innet net earnings and the balance was absorbed In freight charges outside the tha state refining costs costa metallurgical losses and selling sailing expenses If we Include the last six years Inthis In Inthis inthis this year 10 average the tha net profits pro pro- fits of ot mine stockholders have averaged averaged aver aged slightly lIghtly less than 4 ot of the value ot of the ores produced There are two ways waya of interpreting interpret ing such figures One unfortunately unfortunately the more popular is to protest protest pro pro- I test that 3 8 of the of ore representing state stale and local taxes tues is an Inadequate return of ot the wealth produced The other and the way we should adopt if it the mineral Industry in Utah is le to grow Is to compare the earnings of mine stockholders with the tha new wealth this industry distributes directly and Indirectly In Utah In Inthe Inthe Inthe the decade the people of ot Utah received about times as much from the mining Industry as did the stockholders from 1920 to 1935 inclusive they received more than 20 times as much income from mining as the stockholders If It Utah can get its Ita natural resources resources re reo re- re sources converted to money wealth and have distributed In this state 75 0 to 80 of ot this wealth for tor an average commission over years of prosperity and depression of not notto notto notto to exceed 4 of the wealth produced produced pro pro- produced and if those receiving the commissions furnish all the capital and assume all the risks then we have made a very good bargain Indeed This is possible because ev every ry mini mine operator hopes hope to make more than 4 and 4 nd ft II f few fl w of them do and do-and and also because much of ot the ore is low grade and yield field a very low margin of ot profit to the producer The industry we must remember remember ber bar is II in severe severa competition with mining in other states and coun tries W We are In competition la in securing capital for the development develop ment meat of ot our mines It If other region offer otter better commissions than does doe I Utah they win will attract investments and the tha Industry in Utah will slowly slowly slow slow- ly die dla out Utah mines must also be ba able to produce a pound of ot metal and sell lell It In consuming centers as cheaply as tors tore The grade of ores In Utah is generally lower than In competing competing com corn petting states our taxes 2 8 to 24 times higher in Utah and our shipping costs somewhat somewhat above th the average As Aa offsets Our ore bodies are generally continuous for long distances Salt Lake ValleT Valley Val Val- leT Icy is the greatest non non ferrous ferrous ore ora smelting center in the world and electric power and climatic conditions conditions con cone are favorable Mining Is 11 in a delicate balance Unwise legislation will not close cloae every mine In the state but it could easily slow mining down until until until un un- til It plays a minor part in our Industrial economy We know little of the wealth of ot natural resources In Utah except that they ar are very great groat A 60 mile radius centering at Lund Junction a huge hue do which were where it hat has broken through the overlaying sediments has deposited gold old silver Ill alit ver lead zinc and copper ores for which II a quarter of million Cellars allars Illar has hu already been realized Near Cedar City are th the greatest greatt da- da posits of ot aluminum ore in to th the world world world-at t least leut tons tona Oil au drilling in southeastern tern Utah has disclosed huge deposits of ot salines containing 10 to 12 0 of ot magnesia magnella Utah's coal coat deposits estimated at over tons are six times the re reserves enea of ot the great coal state of ot Pennsyl Pennsyl- vania vanta In Iron county alone the tha theIron theiron iron ore ora reserves are ara greater than those of ot Lorraine Alsace over which France Franca and Germany have fought for the last years Teara In Utah for a time Ime at least wa we have reached the limits of ot our surface sur sun surface face development We Wa must get let below the surface Wa We do not need nor should wa WI expect a rapid development of ot our mineral resources If It we can Cin expand them only a few percent a year wa ws shall be ba able abla to care oars for our growing population |