OCR Text |
Show AROUND THE MINES The production of gold in California for lt'lS probably will be 20 per cent under that of 1017, says Fletcher Hamilton, Ham-ilton, state lninerolugist. Itangely has something like oO to 40 wells and only one dry hole, according to William O'Neil, discoverer of the field located in the east end of I'iutah basin. Report for the second quarter ended June 30, 11)18, for Utah Copper shows profits ecpial to t4 a share, which coin-pares coin-pares with S'2.35 a share for prerediag quarter. Direct governmeni purchase of n.in-erals n.in-erals essential for war industries will be considered soon by congress, in an effort to solve the problem of fostering foster-ing production. Chief Consolidated dividends now total $1,124.:!42, according to the second sec-ond quarter report for I'.HS, just issued, winch places this year's dividends divi-dends at ?2S7,372. Anaconda produced 25,000,000 pounds of copper in July and 1S2.1-I0,-000 pounds in the seven months then endiii'-', or seven million pounds more than in the same period lust year. Resolutions calling for the payment of a bonus by the government for every ounce of gold produced were adopted by the resolutions committee of the American gold conference at Reno, Nevada. Mammoth Mining company is now employing a force of about 50 miners. In addition Uiere are several lessees working various blocks of ground and they have probably ten to twenty men more in the old Tintic mine, according to one of the officials. Ktay consolidated report for the second sec-ond quarter of this year shows net of $2,225,217, or at the rate of S5.72 a share per annum. The production amounted to 21,S03,414 pounds of copper, cop-per, compared with 20,522,558 pounds in the previous quarter. Utah Copper's second quarterly report re-port for 1918 was released last week. It shows a total of 52,724,053 pounds gross production, with net profit of !?G,493,375, and a net surplus of !?2,-432,151, !?2,-432,151, compared with a deficit of $250,501 in the preceding quarter. From Boston conies word that the Minerals Separation company has filed with the supreme court petition for a writ of certiorari in the Butte & Superior Su-perior litigation. If granted federal court decrees in Montana will be reviewed re-viewed by the country highest court. Three Alta properties, the South Heela, Alata-Mlckigan and South Hec-la Hec-la Extension, in the slow month of July shipped to market approximately 2300 tons of ore. Averaging the ore at near .$20 a ton it would make this aggregation ag-gregation worth approximately ,$40,000. The treasury announced that it had virtually fixed the maximum price of silver at $1.01 per fine ounce and that export licenses for silver would be granted by the federal reserve board only for essential civil or military mili-tary purposes and on condition that the maximum price was not exceeded by the purchaser. Word comes fromNew York that file Cerro de Pitsco Copper company has declared the "regular quarterly dividend. divi-dend. The dates are August 23 and August 31. The regular dividend has been $1 a share, but the last dividend carried an extra of 25 cents. The Cerro de Pasco produced in July 5,238,-000 5,238,-000 pounds of copper. President Mark Walser of Nevada Packard has issued a report for tho year ending June 1, .1918, show-ingtotal show-ingtotal gross production of $271,-034 $271,-034 compared with $293,978 the previous previ-ous year ; -bullion in transit, $12,050, and final net profits of $75,563. The loss in treatment was $31,505 and operating op-erating expenses, $157,057. The operations of the Bingham & Garfield railway during the past quarter quar-ter has been satisfactory. A daily average of 31,922 tons of ore was transported trans-ported and a daily average of 4139 tons of commercial freight was handled, making a total daily average of 30,001 tons, as compared with 25,434 tons and 29,775 tons, respectively, for the preceding pre-ceding quarter. At the Michigan College of Mines are 200 soldiers selected from the last draft learning regular infantry soldering sol-dering and specializing in mining. They are learning how to run a drill, ,o timber a stope, to luindle the machines ma-chines and to repair them. They are to be a part of a regular outfit of miners for special work abroad and are also to specialize in dynamite. Mine rescue car No. 1 of the United States bureau of mines, in charge of J. J. Forbes and a crew of trained men, will reach Salt Lake on August 18. . The car will be on exhibition every day, from 9 a. m. to 5 p. in., 'in til September 7, and free lectures will be given to miners on safe methods meth-ods t f mining, the use of safety lamps and rescue apparatus, and mine gases. Working forces" have been considerably consider-ably augmented in the past few weeks on the old Daly Mining company's property at Park City, which has resumed re-sumed shipments again. More than 3,000,000 pounds of ore were shipped by Cobalt mines in July. With silver approximately $1 an ounce, r-hipments are valued at $1.00.0(a It is evident that the Cobalt mines, in the aggregate, are yielding approximately S 1. 5O0.00!) monthly. Construction of a spur line of radioed rad-ioed or the installation of a .Vol of motor trucks from the property if the Western l'hophaie .Mi iin;. '; M i :cturi!i;: co!.i any. loi-.io d '.b ' i i oil. of Paris. Idaho, are ihe :!': !.yes p;-v- ;:.e: r.i iiu umi . i..: l: 1 ::i -,i:i .- i-o; d . it -n-- |