Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1886-11-27
BUSINESS AND MINING NOTES.
The London silver Market-EffeCt
of the Weather on Business
In General.

BradStreefS OF the Goth says: "The
London silver market has not yet ceased
the easy and gradual advance which has
carried the price from ADD. per ounce a
few months ago to AID. The depressing
influence of complete disorganization
in Indian exchange being removed and a
firmer feeling prevailing in that connec-
ton, silver has naturally tended to a bet
ter level, the process being aided by the
fact that the actual stock of the metal
available for use in the arts and for ship
ment to the East is by no means OF a
dimension to justify the assertion that it
is overstocked. 1t is, of course, possible
that a further disturbance in Indian ex-
change from any cause will cree te a re-
sumption OF the declining tendency, but
so far that difficulty has been avoided.
The awards OF bills by the India council
on Wednesday last were made at an adj
vance of I'D. per rupee.
Cold weather and storms have inter-
fered with business at the East and
North. Money has began to return to
financial centres. Gold to limited ex-
tent has been coming from abroad. The
Bank OF England discount rate remains
at per cent. The specie of the bank
increased during last week $4,000, 900.
The Bank of France showed a decrease
OF 100000 francs OF gold, and an in
crease of 4,575,000 francs of silver,
Wall street believes in active business
and higher prices. The virtual settle
ment OF the Chicago strike, and the
prospect OF agreement among leading
railroads is favorable to the business out
look. The London market is encourage
ing for the sale OF American securities.
There is great activity in iron and steel.
Speculation is wide awake, and is look
ing forward to booming market.
Here in our mining districts things
look encouraging. Utah mines and
mines adjoining territory in which Utah
men and capital are Interested are many
OF them jumping.
The Wood River Times OF the oath
says: The Minnie Moore and Queen of
the Hills mines are proving so rich as to
surprise even old Pacific Coasters who
never consider "claim" worthy OF no.
tice until it begins to show million or
more dollars worth OF ore. A strike Of
a vein or ore several feet in width
is reported to have been made
IN the Triumph group, on the
East Fork OF Wood River, some davs
ago. The vein carried lunches and
Jumps OF galena mixed through the mass
OF second-class stuff, and gave other evil
dence OF the proximity of an re-body.
A drift has been commenced in the ore
to develop it, and by next spring the
Triumph group will doubtless resume its
former place in the ranks of producing
mines. The Triumph group is owned by
an incorporated joint-stock company, the
office OF which is in Salt Lake |
City, and W. II. Watt, of HALEY, is the !
superintendent. Prof. Jennev is push |
ing work with the utmost vigor on the |
Durango group. The Bullion Ophir tun- |
mel, cutting both properties with right Of |.
both parties to use it jointly is being used |
by Prol. Jenney to explore his property. |
On the Comstock, legitimate mining on |
properties that have for long time laid !
ldle, appears to be the order OF the dav. |
Snow is accommodating in our immediate |
neighborhood.
1t lies from five to eight feet deep in .
Alta, and Hannibal lGrice) is wondering
now the women folks and children are to |
get down to the valley. The new Emma
IS said to be on the trail Of good ore. and
things are being pushed in spite of
threatened snow slides.
Salt Lake men are rushing business
Town at Phoebe. They have % men en-
2iloyed according to the Phoebe Record.
They have cleaned out the old RAYMOND
md Ely mine and retimbered it down 10
he 800 foot level. "
Look out for mining boom this com
ng spring.