The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1886-08-22
FINANCE AND MINING.
Alarming Outlook for Silver
Producers.
UTAH LEAST UNFORTUNATE
Receipts OF Ore aud Bullion-AIeK-
Bannock-FalI in Ontat
GeasraI Notes.

The only local deal recorded during
Che week Is a sale of 2. Q. NJ. l. stock
at SOS.
The decline in silver continues to be
the one engrossing subject in trade
centres. and its importance is such that
it may well occupy the most serious at
tention on our 6nanciers. What the
consequences TO Utah would be were
lead TO take any tamble proportionate
to the fall in silver. Is not cheerful
vision to contemplate. Yet, dark as
the outlook seems for US, we are for
tunAte compared with Montana and
Colorado. where all their ore is.silver
Bradstreets says: The present price will
close q good many mines in Arizona.
Mexico, California and Montana. In
Colorado and Utah, where lead enters
into the value Of ore, the effect will not
be so bad. f-rther decline OF l0c.
would practically stop production.
This would probably be more disastrous
to rercsntiie and railway interests than
to miners ard smelters.
The same paper has the following on
the silver question:
The extreme decline in the price OF silver
is one OF the most noteworthy features Of
recent commercial and financial history
For several months past the quotation for
bar silver in TIE London msrket has stead
lily dropped Until il is well below any for
mer recorded price for the white metal. The
disturbed condition CT exchanges between
England and her great silver-emplOylug de
pcndcncy-In ita-is widely held 20 be the
arrns.s - saff Of tho TnrlfUn Increased
attention is heing given 20 the subject in
England in consequence of the disturbance,
For tn present the chief point of interest
for this country is the decline OF silver re
iates 30 the metal as one of our industrial
products. The London quotations deter
mine the price OF silver in the worlds mar
kctS, ana the decline from 4g1sd- per ounce
one year ago and &C lJ-l6d on January
1 % the recent unprecedented figure Of ed
represents a corresponding decline in the
New York price from 81 O65s per ounce one
year age and .025s on January 70 VI (d92c
per ounce az this time for bar silver, United
States standard. According TO the recent
report of the Director OF the Mint the pro
duction of silver in the United states for the
year 1885, calculated at he coming rate In
silver dollars. Is estimated atf5l co., oOO
against a Ike production OF SIS 500 cog in
1881 The part which silver production
plays in tee trade and development OF the
Territories, the nrmbers employed in both
mining and smelling industries and the
large trafic they furnish 20 the railroads OF
the cOU1try, make Ehriukage OF over 10
per cent in the market value of
product Of such large Dimensions a mat
GER worthy Of serious attention. Reports
have already appeared 10 the effect
that the present price OF silver reduced the
profit in silver mining and production IN
some districts 10 such an extent that not
able decrease in the output was inevita-
bic. aud that the abandonment of mines
and shutting down of reduction works was
contemplated in many instances. To some
extent such reports seemed exaggerated on
thcir face but question OF such importance
seems tOdcmand fuller and more authentic
information. To this end Geographic re-
plies 70 a request for Information in regard
10 the effect OF the present depression on
silver production and collsterally Its bear
ing an connection with labor and railroad
rates, have been received from a number
of the largest smelling ard mining con-
Germs throughout the west, and are herewith
laid before the readers OF BrddStrecfs They
are as follows;
Then follow dispatches from various
sections of the west, all agreeing on the
gloomy outlook should silver continue
10 declIne).
Coming as the above dispatches do from
every section, and fairly representing the
views of leading operators, there Is aeur-
prising unanimity in the bad view they
lake OF the situation. They may be summar-
lieu H. AAtAAlAAAAA- AAAAA AAAN Ad-@
affects the proft on lOw-grade ore mining,
and leads 10 a general desire for decrease
in railroad rates snd in wages. In regard %
actual suspension of mining operations there
seems 20 be no authentic information as yet,
while large smelling concerns which pur-
chase eheir ores seem 20 be in position 70
protect themselves. There would seem,
however, 70 beroOm for the superstition iRat
possibly the views OF parties so directly In
ierested are overdrawn, and this view IS in
a measure sustained by bullion dealers and
others connected With the industry in the
east According 70 their view the pr0duc-
ton of lead. gold and copper IS in so many
cases mingled with that OF silver TO such an
extent that the fall in the latter can only
partially afford the total results, and so far
the fall in silver has not proceeded TO such
q point that PRODUCTION will be seriously, II
at all curtailed- The first OF our dispatches
given above wosld therefore seem 20 repre-
sent the most probable measure in the mat
ter Ii Indicates that with silver al y2c. per
ounce there IS some decrease in profit, but
further fall 10 soc. Is required before serious
damage to the mining and smelling indus
tries is likely 70 ensue.