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Show JUMP IN SILVER WILL ENRICH UTAH Silver, quoted at the highest price it has commanded in more than three decades and giving every indication indi-cation of becoming equivalent to gold on a sixteen to one basis, is rejuvenating re-juvenating abandoned mining properties prop-erties all over Utah and Nevada, according ac-cording to -an observation made yesterday yes-terday by Ezra Thompson, head of the Cardiff mine. Millions, he declared, de-clared, will be wrested from the old properties and. new fortunes will be made, but he called attention that adjustment of the labor market will be necessary. ' yhen Charles Gammon, chief of the United States assay office, opens for business this forenoon he will pay $1.08 an ounce for silver, representing repre-senting an increase of more than 100 per cent in a year and the highest price paid for silver by the Government Govern-ment in thirty-five years. There is general belief in federal assay offices of-fices that the price of silver will rise 'to $1.2929 an ounce, the unit price for the sixteen to one standard. With such rapidity has the price of silver been rising that local smelters smel-ters have been maintaining an em- bargo on silver ore. This has contributed con-tributed to the temporary shutdown of the Cardfff and other, mines In the State, but the embargo will be lifted on October 1, when activity will be resumed with renewed vigor. The temporary embargo of smelters of the local district was established, it is reported, for the express purpose pur-pose of arranging for the handling of much greater tonnage of silver ore at high prices. Thomas Kearns, former United States senator and vice-president and general manager of the Silver King Coalition Mines company, has been at Elko, Nevada, for a week looking into the project of opening-a number num-ber of old silver mines in various parts of Nevada. He is expected to return either today or tomorrow, and it is reported that D. C. Jack-ling, Jack-ling, vice-president and managing director of the Utah Copper Company, Com-pany, who is due in Salt Lake today, to-day, having returned from his gold properties in Alaska, may give the local silver mine question immediate attention. Solon Spiro, chief -of the Silver King Consolidated Mining company, is in New Y'ork, where it is reported that he is interesting capitalists In the true meaning of the increased price of silver to the abandoned silver sil-ver properties scattered all through the intermountain West and especially espec-ially in the Comstock district in Nevada. Ne-vada. More than six months ago Mr. Kearns said in a statement relative to silver mining that the reopening of silver and lead properties would be general and to take full advantage advant-age of his prediction he now is engaged en-gaged in making a study of prospects, pros-pects, laid down years ago, when the price of silver dropped to the extent that silver mining became unprofitable. unprofit-able. When he made his prediction silver had advanced from 4 6 cents to 72 cents an ounce in a little more than half a year. It is pointed out by sliver mining magnates that politics once made a bid for higher silver and failed, but that war, reft of politics to a great extent, will register the silver price at the sixteen to one standard and make it remain there for all time to come; for gold, after the experiences experi-ences of the war, gives promise of much less liberty than it has had In the past and will remain quite securely se-curely in the strong boxes of the various governments. Richard Barry, noted authority on silver, calls attention that silver has doubled in the last eighteen months and gone up more than 50 per cent since the United States entered the war. In addition to the general war cause for mounting silver prices he shows sixteen causes for advances in silver. He says that after the governments have selected all the gold they can get for ballast in their respective ships of state nations take to hoarding all the silver available. Stimulus also has been added to the demand for silver by the creation by the British government of its series of war notes at one pound and ten shillings automatically creating a demand for silver. Then Mr. Barry calls attention to a number of rea: sons for the increasing demand for silver such as the increasing desire on the part of -wealthy East Indians to be buried in silver caskets, and he shows in turn that the walkouts of the I. W. W.'s in the silver mining districts of Arizona, Montana and other western states have contributed contribu-ted to fattening the purses of men with silver mines to operate. The payment of troops in Europe is in silver and the financing of all the British armies, in various parts of the world, is on an absolute silver basis. Entrance of China into the world war and the recent favorable monsoon in the orient are also given by Mr. Barry as causes for the increase in-crease in the price of silver. The monsoon ' is relative to favorable winds, rains and temperatures, which in the orient, means greater crops, in turn calling for more silver. The South American republics, as well as Mexico, which always have maintained a silver standard, will experience enormous profits entirely as the result of the mounting price of silver, it was pointed out last night by local silver mining experts. Ex. |