The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-06-24


From the east come the advices
that the tendency of money every
where has been toward increasing plen-
~-itEde. and ease. Domestic exchange
has continued strongly in favor of New
York, where an unusually great accu-
mutation of money has occurred.
Foreign exchange has ruled firm, and
another engagement of $1,000, 900 gold
for export is reported. Our securities
continue to decline in foreign markets,
while the balances of trade are strongly
unfavorable, so that further shipments
of gold are indicated for the future.
This probability is increased by the
relative abundance and cheapness of
money in New York, conditions, also,
which have almost brought the sale of
government bonds to the Treasury to
cessation.
There is a considerably better feeling
in mining circles over the recent and
sudden advance in lead, and the news
will be accepted with general rejoicing
throughout the Territory. Opening On
Monday at 1875, it remained stationary
for couple of days, and then created
considerable surprise by advancing to
81 05. From this it rose on Friday to
$40, and yesterday it was quoted ct
$40, an advance during the week of
35c.
Silver varies but triae, there being
at no time during the week a difference
of a cent in the quotations,
Specimens of saltpetre have been
brought in from Spanish Fork Canyon
The discovery of the beds was made
but recently. Competent persons who
have inspected the grounds say there
appears to be an unlimited supply, and
that further inspection shows the
article to be nearly 100 per cent. pure.
The Provo Canyon silver mines and
prospect holes continue to attract con-
siderable attention. A Mr.. White, one
of the first to prospect in that locality,
recently told an Enquirer reporter that
two mining districts have been organ
lied in that neighborhood. One, called
the Robinson, is in Utah County, and
the other, the Bonanza, is located in
Wasatch County. In the former dis
trict are located the Maudie May,
Homestake, Lucky Boy, Great Era,
George Washington, Long Sought For
and Hidden Treasure. In Bonanza are
Great Superior, Stage Line, Mammoth.
Lily, Mayhower, and Mary Jane. All
have been worked more or less, but the
one now particularly claiming the at
ton Of Mr.. White is the Long Sought
For. In connection with Mr.. F. J.
Robinson, after whom the district in
which these mines is located is named,
Mr.. White has bean doing extensive
work here. Mr.. Robinson was the first
one to work here, and has been steadily
working for the last year on it. Already
they have tunneled in thirty-fye feet,
and are now sinking a shaft on top of
the tunnel. About twenty-five tons of
ore have been taken from the Long
Sought For, which assays forty-hve
,sIIv win silver, and 500 gold to the ton.
hands Aha o shipment has been made, but
: IlfSIue Cde next thirty days, one will be
made. when it is expected renewed en-
couragement will be the result.
Some miners of Park City were down
from that camp last week, and were
highly pleased with the outlook. They
took samples of the ore with them when
they returned, and said they were COM
ing right back.
The distance to the mines from Provo
is about twelve miles. or about six miles
from the mouth of the CANYON. They
are all located in the Henry Jordan
ranch, recently purchased by Mr.. Frank
Rushtop.