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Show MINES AW MINING Electric power Is rapidly coming into favor with the mines of Tlntio and within the next few months a number of new properties will b electrified, it is said. Gold coin and certificates in the vaults of the federal reserve banks increased more than $12.ooo.00n in the last week, according to a statement, state-ment, of condition September 17. The new oil flotation processes which are being gradually brought in at both the Utah Capper and I'tuh-Apex I'tuh-Apex mills is said to be proving all that has been claimed for it. Several bunches of high-grade ore are showing in the winze that is being be-ing sunk on the brecciated vein in the Emma Copper property, located in the Little Cottonwood district. The construction of the mine buildings build-ings and the boarding hcuse on the property of the Price Mining company, com-pany, located in the Big Cottonwood district, is being pushed rapidly toward to-ward completion. Word received from Willow Creek, Nev., is that the shaft on the new gold discovery on the Willow Creek Gold Mining company property is now down forty-five feet and the bottom shows $200 values. The Salt Lake & Alta railroad la now carrying to the smelters dally about 130 tons of ore from the mines in Little Cottonwood canyon. Of thii tonnage the South Hecla is sending down nearly eighty tons. Gold ore running $50 to the ton has been encountered in the winze seventy-five feet below the upper tunnel level, according to a letter received al the Salt Lake offices ol the Bull Valley Val-ley Gold Mines company. i The average price of spelter, St. Louis, for the month .of August, ai compiled by the Engineering & Mining Min-ing Journal, was 12.611 cents, as compared com-pared with 18.856 cents in July, and 5.418 cents in August, 1914. An increase of $091,288.45 in net earnings from operation during the fiscal year ending June 30, 1915, over the earnings for the previous fiscal period, is shown by the annual repor' 'of the Colorado Fuel & Irou com pany. Bingham camp today is probably producing more ore than ever before in its history. The Utah Copper alone is mining and milling 25,000 to as high as 32,000 tons of its low grade sulphide porphyry copper ores inside of twenty-four hours. The manager of the Tintic Standard, Stand-ard, in Tintic district, Utah, says tha jigs are making a very satisfactory saving on the low-grade ore and that the car of concentrates, shipped last week, will probably carry from 40 to 50 per cent lead and from -20 to 22 ounces silver. That the mining industry is facing (he greatest period of prosperity in its history was the opinion expressed by Carl Scholz, president of the Am-erican Am-erican Mining congress, while in Salt Lake on his way to San Francisco to attend the annual convention of tha national organization. i There have been rumors rife ia Bingham for some time that part of the stope from which the Utah Metal & Tunnel company has since April shipped upwards of 11.000 tons of $20 ore, aggregating $200,000, Is claimed to be Bingham-New Haven ground, and that company asserts apex rights. Now suit has been filed. Net income of the American Smelting Smelt-ing & Refining company for the six months applicable to payment of dividends divi-dends was $5,019,9S2, an increase over the same period of last year of $53,-290. $53,-290. After regular dividends on the preferred stocks and at rate of 4 per cent on the common stock, there was carried to credit of surplus $1,071,505. For the purpose of developing 400 acres of coal land, located in Spring canyon, Carbon county, the Carbou Fuel company has been incorporated with a capitalization of $300,000. Tha property is now being developed with three shifts of miners and the company com-pany expects to be producing in the neighborhood of 1,500 tons of coal daily in the near future. With the distribution on October 1 of a total of $456,258 dividends from the mines of Park City section of the Utah mineral zone, a new impetus is given to mining, the like of which has' not been witnessed since the good old days. The Silver King Coalition Coal-ition will pay out $187,500, the Silvei King Consolidated, $63,758, the Daly-Judge, Daly-Judge, $75,000, and the Cardiff., $125,000. Utah operators had much to do with the fact that a 'dead camp springs into life again," as the Denver Den-ver Mining News refers to Rico, Colo., and its awakening in the past four years. The article goes on to say that a little over four years ago the mining min-ing camp of Rico was just about aa near a deserted camp as it was pos sible to find anywhere in the west Not a man was working in the canirj for day's pay, but a goodly number of leasers were at work as usual. Today To-day the camp is prosperous. Four or five streaks of high-grade mineral have been encountered in ths winze in the west drift on the Brain fissure in the Alta Consolidated prop erty, located in the Little Cottonwood district. The winze is now down forty-five feet, and the ore Is a heavy sulphide. Reports are rife In Bingham that as much as seventeen carloads of high grade copper-gold ore were recently extracted from a new disclosure in the Boston Con. ground of the Utah Copper. Cop-per. ' One story is that It carried ug to $50 and $60 to the ton. |