Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1886-11-09
BUSINESS NOTES.
silver CerIiTicates-HIse of Lead
Mining and Financial Items

Silver certificates are replacing Natlonal
bank notes which ere now being rapidly
retired from circulation. On the back OF
each silver note is printed "This GER
tificate is receivable for customs, taxes
and all public uses, and when so received
NAV be reissued." No National bank
that refuses these silver notes in
| settlement of debtors balances can be
a member of any clearing house. The
silver notes have an advantage over
| preenbacks and National bank notes in
| that they have q metallic basis to rest
upon and do not depend upon airy
promises. 1t il not long since the
credit of the Nation and OF banking
corporations went begging. Greenbacks
| dropped to nearly two-thirds their par
value under the war pressure, but silver
certificates will bring their par value
under the most depressing circumstances.
The tendency OF things is in the direction
of exclusive government money in gold,
silver and paper issues. The sooner such
q contamination is reached the better Tor
the nation in all its interests.
THE JUMP IN LEAD.
1t was but few days since that the
| New York Engineering and Mining
Journal settled it to its own satisfaction
that lead would continue to rule low for
the reason that corroders were doing less
business than usual, that our imports
have been quite large and our produc-
ton greater than in 1885. 1t says: =" 1t is
! impossible to say how much lower lead
may 90 nor how much manipulation may
have to do with the decline, but the sta
tistical position of the metal is such that
no important advance can be looked for
until there is an improvement in the con-
sumptive demand
But in spite OF the JOurRdiS decision,
lead has taken sudden jump OF forty
five to fifty cents on the hundred pounds,
and everybody is asking, "Why is this
thus?" The politicians incline to the
opinion that the results OF the election is
n setback to the free-traders and that
lead, rated wrongly as raw material, is
safe from the attacks Of free-trade reform
ers. Others ascribe the sudden rise to
the manipulation OF interested parties,
and assert that sudden fall will as
surely follow as one extreme follows an
other. Be this as it may, sellers OF ores
will profit by the present quotations and
make hay while the sun shines.
MINING NOTES.
Utah stocks are fairly in demand on
our streets. Transactions carried on
through curbstone brokers are not gen
orally heralded from the house-tops.
Dividend-paying stocks represented by
Salt Lake men cut no figure in the open
market, but are quietly taken in as OPP
portunities present themselves, by men,
bers OF those close corporations who are
able to hold their stocks and to swallow
up the smaller fish, whose necessities
bring them to the surface. Crescent and
Apex stock are the most active in the
street market as ventures, and there are
always enough holders who, for some
reason personal to themselves, are in the
market as sellers. Prices, therefore,
fluctuate as the pressure upon holders
varies.
1t is reliably reported that develop
ment in the Idaho mines OF the Haley
Hill Company justify the shareholders,
who are exclusively Utah men, in holding
on to their stock
The Bannock Company, the stock of
which is mainly held by few Salt Lake
men, is represented by silver bricks in
monotonous succession, presenting them
selves for admission to McCornick's
Bank. NJ. G. Thum, OF this city, one OF
the original stockholders, takes the place
OF Rippets as superintendent OF the mine
Mr.. Rippets having resigned.
\ Woodworking typo OF this city who
has never lost confidence in his patented
mining claim in American Fork district
and who has shown his faith by his works
on the mine to the extent OF his ability
has associated with himself in ownership
OF the property United States Senator,
who will hereafter assist in converting
the promising claim into a productive
mine.
There are scores OF good opportunities
for outside men to invest with practical
miners in this Territory on favorable
terms.
Comstock stocks, supposed to be dead
cocks in the pit, are taking on new life,
: and some OF them, notably the Ophir,
Consolidated California q Virginia,
Savage, etc, have rapidly advanced, APP
parently upon a substantial basis OF new
found ore. Buyers, anxious to ride upon
a rising tide, will do well to wait for fur
Their information before indulging in ex-
pensive ventures. 1t was supposed that
after election prices would fall, but the
supposition is not sustained by facts.
, With regard to the Tuscarora stocks,
especially the North Belle Isle the
booming OF its stock is accounted for by
advices OF big strike in the mine. The
Tuscarora TmeS-Reciem speaking of the
discovery of rich ore in one of the wines
from the l50-foot level, says "Ruby,
stephante and gold are mingled together
in solid masses. RUDE Norton, foreman
at the mine, stated to Times Reuiew
reporter, that he sent single carload to
the surface that was worth fully $4,000.