Show Mining Matters i I PROSPECTORS SEED NEED EED MARKET I FOR FOK DISCOVERIES ERIES A great deal has been written In an I effort to Increase prospecting pro In our western mountains says the Denver Den Mining Record The prospector has blazed the trail trall Into the western wild wild- wilderness wilderness wilderness I erness and his discoveries have resulted In the of the west In late I years there have not been the usual number of prospectors at work Virgin I mines await discovery ery far off of the beaten trail Often lacking backing a grubstake e the pros pros- prospector prospector prospector remains Idle Another cause for forthe forthe forthe the inactivity of or the prospector is the fact that there are few companies or Individuals to whom the prospector can sell his prospect In the old days a a. prospector could come to Denver and I interest a group in his new discovery A company would be formed and de development de- de development work financed The prospector would make something on his seasons season's work The newly organized mining com corn company company pany might develop a new dividend pay pay- payer er Today our laws are so severe ere that this practice has ended State and fed fed- federal federal federal eral legislation has slowed down the financing of or these new mining corpora corpora- Reasonable action In this regard could have been properly taken 30 or 40 years ears ago A logical method of or financing financing financing ing development of mines was parti patti partially i ally wrecked by the selfishness of a- a al alleged mining operators who were In reality confidence men preying upon the I aI-I I gullibility of the people Instead of or sell- sell sellIng selling selling Ing treasury shares to raise development funds many of or these alleged companies were organized almost wholly for the purpose of or enriching the organizers They took a a. large share of or the capital stock and enriched themselves through its sale Few If any of or the companies of or this class have made a a. success suc ess and the west Is fortunate In having such corn com companies com I I panics eliminated from the field At the same time it Is important that honestly organized companies be encouraged to carry carryon on needed development and give employment to labor in high alti alti- altitude altitude tude mining districts Otherwise they I will become depopulated and the bread breadlines breadlines breadlines lines in neighboring cities enlarged OFFICERS ELECTED BY RI MINING lI I G GROUP GHOUl Officers of or the Utah chapter American Mining Congress were re-elected re at the annual meeting last Saturday as follows O. O N. N N Friendly governor E. E A. A Hamilton first Ice vice governor James Ivers second I vice governor W. W J. J OConnor O'Connor third vice governor A. A G. G Mackenzie secre score tary Directors to serve ser until 1940 were elected as follows O. O 0 J. J Egleston Walter Fitch O. O N. N Friendly Thomas F. F Kearns C. C T. T F. F S. S Gloyd M. M Wiles Other directors of or the chapter are J. J O. O Elton W. W Mont Ferry E. E A. A A Hamilton Paul H. H Hunt A. A L. L Hurley James Ivers Ivers D. D MacVichie D. D D. D Moffat J. J A. A Norden orden W. W J. J J OConnor O'Connor 0 H. H E. E Rad- Rad datz J. J D. D Shilling G. G W W. Snyder J. J W. W Wade BE BC e CAREFUL Says the Salt Lake Mining Review Legitimate mining will suffer from the current spectacle of or senseless speculation In cheap mining stocks Unprincipled publications and brokers push any and every stock suckers will buy Often orten there is not the slightest pretense as to values Just the ballyhoo of or in inflationary in- in temporary and unjustified rise In price of certificates which in inmany in inmany inmany many cases have no more behind hind them than the free blue sky of or the heavens must roust To ro hedge against Inflation one become the possessor of or something of or value to start with v the worthless be be- be becomes the victimized worse off than before When the Innocents have absorbed all the worthless certificates ates the bottom drops out of or the market and those left holding the bag forever condemn legitimate mining min mm- mining ing the honest operator and the prin prin- principled principled broker Who is to blame The buyer of or certificates certificates who either cares not or knows not enough to make simple inquiry as asto asto asto to location management or capitalization tion of or the venture Involved In and the Irresponsible promotion publications that aid the bucket shop type of or broker It Is senseless and pitiful PROPOSED SLIDING SCALE TO BE E FURTHER DISCUSSED SUNDAY SU DA Y The proposed sliding wage scale for forthe forthe forthe the metal miners Is still up the as it were It Is announced that the central committee composed of or district officers and local representatives will meet In Salt Lake Sunday next when likely a uniform policy polley will be formulated ed for future action by the various arious local unions NEW EW SUMP IP AT PARK IRK CITY CONSOLIDATED This week cement work was started on a sump at the Park City Consolidated ed mine When completed the sump will willbe willbe be 7 feet by 5 feet and 50 feet long and will greatly facilitate the pumping of water from the lower levels to the drain drin tunnel level 1 OVERLOAD CAUSES I TROUBLE LE AT KING Friday last the electric power was momentarily off at the Sliver Silver King shaft when the power was again turned on the overload burned two transformers I and did some damage to the switch switchboard switchboard board that controls the new electric I hoist at this property The damage was wasI repaired Saturday and work resumed I Monday as usual XO SO STOCK L MARKET FRIDAY Y Because of or it being Good Friday the I Salt Lake stock exchange will be closed tomorrow I METALS LS AND LOCAL L STOCKS I THURSDAY Metals Newly mined silver Ilver bar I silver sll y c c lower than Wednesday 45 1 lead copper 1465 zinc Local stocks New QUincy 2000 Q 7 c. c Park City Consolidated 28 and I Park King 2500 2 00 t 7 2 7 and ancl Ic 70 Park Premier 1000 Q j Silver Sll King Western 59 and FRIDAY FRIDA Y Metals Metals Bar Bar silver lower 45 lead lend copper 1465 zinc Stocks a bit firmer Local sales to today to- to today today day East Utah c New Quincy 2000 6 64 4 and Cc Park City Con 1000 26 and Park King 2000 Q Park Premier 16 and Silver King Coalition 10 1600 Silver King Western Q GOc SATURDAY Metals same as Friday Local sales Park City Con Park King Q 7 c. c Silver King Western MONDAY The Salt Lake stock market continues a bit shattered Sales are fewer and prices lower What's the matter Maybe Just a calm before a a. storm of selling at higher figures Lets Let's hope so at any rate Metals same as Saturday Local sales Park City Con n. n 0 25 s and Park Premier Silver SUver King Coalition Q 1550 TUESDAY Metals Silver newly mined foreign sliver silver 45 lead copper 1590 zinc Local sales les New Quincy 1000 Q 7 c. c Park City Con 1500 c 24 and Park King 7 7 2500 Q Park Paik Konold Park Premier 1000 Silver S l er King Western WEDNESDAY Metals Silver back to lead copper 1600 zinc Local sales East Utah 2000 Q 4 Yz c. c Park City Con 25 and Park King 2000 Park Nelson 2500 G Vc Park Premier 2600 15 down clown to SHIPMENTS Silver King Coalition con Park Utah Consolidated Park City Consolidated New Park Total e |