| Show INDUSTRY HOPE A wa n fl io IN ta Q of intal 1 I 11 1 1 Z 1 W ei M V er A I 1 P eo 4 za 1 1 1 1 I 1 z 1 4 wa r t aar 4 K I 1 A A J t 4 i f alt f 17 W T K I 1 7 j 1 10 1 lik in the first halt half of 0 his hl address mr hunt of its it young people and suggested last lait half deals deal ADDRESS OF PAUL H HUNT to associated civic clubs of southern utah HE nonferrous non ferrous metal mining THE industry in utah from 1920 to 1930 distributed in wages salaries purchases of supplies and services in utah or somewhat more than 1000 tor for each man woman and child in the state the gri greater ater part ot Ms huge dis bur was spent within the state at least onie once before the money left jett the state which would account jorj more than 2000 ot per capita gions gross income which amounts to about 45 ot of the total gross income ol of the people of utah having been det derived ived directly and indirectly from the nonferrous non f ferrous arrous metal mining industry these disbursements in utah represented approximately of the gross value ot of the nonferrous non ferrous ores produced in the tate state in this decade th the i gross included about 3 in tate state and i local taxes in federal taxes about 2 stockholders of mining companies received 88 in net earnings and the balance was absorb absorbed edin in freight charges outside the state refining costs metallurgical cical losses and selling expenses it if we include the lasts last six bC years in this 10 year average the not net pro profits of mine stockholders eis hays have averaged slightly leas jess than 4 of odthe tha value of the ores produced there are arc two ways of interpreting such figures one oie unfortunately the more popular Is isto to protest that 3 ao 30 of the of ore representing state and local taxes is an ln inadequate adequate return of the wealthy wealth produced the other and the way we should adopt jt lt the mineral Indus industry in utah is to grow is to compare the earnings of mine stockholders with the new wealth this industry distributes directly and indirectly in uenh abib in the 1920 30 decade the people ot of utah received about 9 times as much from ithe the einings industry yas as did the stockholders 1920 to 1935 inclusive they received more than 20 times as much income from mining minin gas agthe the stockholders it if utah can get its natural resources converted i to tG inon money wealth and have distributed in this state 75 to sa 80 of this wealth for an average commission over years of prosperity and depression of 0 nt ast to exceed 4 of the wealth produced and it those receiving the commissions furnish all the 1 capital and assume all the risks then we have made a very good bargain indeed this is possible because every mine operator hopes to ia pictured the l loss la a boutah by utah of 0 two third ai ass a remedy this with industrialization make more than aclo 4 and a few off otther lAem do and also because much ot the ore la Is lav low grade and yields a very low margin of 0 profit to the producer the industry Ind we mu must at remember Is in severe competition wl with th mining in other states and countries a W we are in competition in securing capital for the development ot of our mines it other regions otter 01 ter better commissions than does U utah they will attract investments and the ludu industry stry in utah will slowly lydial digout die out utah mines must also be able to produce a pound ot of baltin zel zell I consuming conteas centers as cheaply as l tors the rho grade rade ot of ores in utah Is generally lower than in competing states our taxes 2 to 2 times higher in utah and our shipping costs somewhat above the averaged average As offsets our ore bodies are generally contin continuous aou a tor long distances salt lake valley Is the greatest non f ferrous arrous ore ame smelling smelting sm elting ting I 1 center in the w world orld and electric power and climatic conditions are favorable favo raW mining I 1 I 1 is in fil a delicate balance unwise legislation will not close every mine in the state but it could easily ea ally slow mining down uni til it plays a minor part in our industrial economy wo we know little ot of thi the a wealth ot of natural resources in utah except that they are very great A 60 mile radius centering at lund junction a huge which where it has broken through the overlaying sediments has deposited gold silver allver lead zinc and copper ores tor for welchia quarter of 0 million dollars has already been bea realized near cedar city are aie the greatest deposits of aluminum ore in the world at least tons oil drilling in southeastern utah has hai disclosed huge deposits of a salines containing 10 to 12 ot of magnesia coal deposits estimated at over tons are a six ix times the reserves of 0 the great coal state ot of pennsylvania in iron county alone the iron ore reserves are greater than those ot alsace lorraine over which france and germany have fought forche for the last years in utah tor for a time at least we have bave reached the limits ot of our surface development we must get below the surface we ve do not need nor should we expect a rapid raped development dev elopement elop ment 0 of out our mineral resources it we aln I 1 expand them only a few percent a year we shall be ablo able to care for our growing I 1 population |
