The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-05-06

slightest inquiry as to its worth or the
standing of its alleged owners. The
committee recently appointed to look
into the working of the Comstocks
have failed, as yet, to give the public
the benefit of their discoveries, if any
they made. There is very general
feeling, however, that the present calm
merely precedes the coming storm,
when few more venturesome Salt
Lakers will be afforded an opportunity
to be shipwrecked in the most approved
style.
There has been some movement in
Utah mines in England. and a late
correspondence says it was commenced
by an announcement in the Mining
World of March 31st, that letter had
been received from a gentleman of posi-.
ton and influence in Utah, to the effect
| that the New Emma Company was on
the eve of striking bonanza. The
correspondent asks: Am I right in
inferring that the writer of that letter
was Judge Bennett, of Salt Lake City,
who holds 3d. 900 of the Emma shares?
At all events, those sh ares, which had
sunk to the marketless point of 3S. :,
began to move and advance to 5s., but
have remained stationary, chiefly owing
to the Intervention of the Easter holt
days. must confess that am one of
those who have always felt that at some
time or other, bonanza would be
struck in this old mine, and repeat,
that should there be anything in the
nature of success in this concern, in
the Flagstaff, in the. Last Chance, or in
no Tnh l.
given to American mining in this coun-
try such as it has not known since the
palmy days of 1872-73, and when any
thing in the way of American mines
went down with the public like oysters
at feast.
at is matter of common remark"
says an exchange, THAT mining proper
ties which cannot be sold in San Fran
cisco, New York, or other places in
this country, are often placed abroad;
and it not infrequently happens that
the selling price increases in direct ratio
with the distance from the mine. An
instance of this has lately coma to our
notice. A California gold mine-an Old
one, and one, by the way, which bears
the reputation of being a good little
mine-has been offered here in New
York for over year at $500 900, lnclud.
ing commissions, etc., reducing the
gross amount by, perhaps, one third.
Whether the gentleman who went over
to London recently, in charge of nego-
tlatlons, has succeeded in obtaining the
million which is reported as the present
asking price, we are not yet informed.
1t Is equally q matter of conjecture
whether this property has been en-
HANGED threefold in value by the pur-
chase of return steamer ticket, and
whether, if it is sold. our English friends
expect to work it three times as econ
omically, and get out three times as
much product and dividends as were
in prospect two months ago. The
chances for sale in London at $500 900
nominal would, of course, have been nil;
at 81 900, 900, they should be better: but
to make a sure thing of it So, ZOO, GOO
should have been asked"
According to the latest advices re-
ceived from R. G. Dun & Co.. the trade
situation, in the east, is unusually con-
fused. Advancing markets for stocks
and for grain contradict each other.
The western reports as to probable crops
are more definitely unfavorably, but
the buying OF stocks, no longer entirely
by professionals, continue as if much
larger traffic for the future were as
sured. Nearly all recent railroad re-
ports have shown gains In gross earn
ings, though the Pennsylvania West
ern lines show losses, and the Reading
Coal Company reports a decrease of
over $500 900 for March, and 81 5000
for three months, in net earnings. Ihe
western roads show a more peaceable
disposition, and exchanges at western
cities generally indicate larger volume
of business. while the large eastern
cities, Cincinnati, Cleveland and New
Orleans, all report smaller clearings
than last year. Until within the past
year or two, it has always happened
that shrinkage in transactions at the
eastern centres was soon followed by
decreasing trade elsewhere. But there
are many who believe that the new state
of things has come in that respect.
The reports of business transacted
are by no means uniformly favorable. |
At Boston, distribution has not i'm
proved as was expected, and the scarcity
OF commercial and especially of man
hOGtCCdU1Os Az |
Philadelphia there is no decided activ- |
ity, but trade is thought to be improving |
at Baltimore and Charleston. At Savan-
nah there is lack of activity, and at |
New Orleans the movement is light. |
Detroit and Milwaukee report quiet in |
trade, but at most other western points |
some improvement is noted. Collec-
tons are better at st Paul and Kansas |
City, but slow or unsatisfactory at
points in Ohio, Michigan and Wiscon-
sin.
There is prospect that the output of
iron will now improve, though prices do |
not. Lower wages at many points, q |
reduction in freights on fuel, fall in |
the price of coke below 81, and decline |
in prices of Lake ore, all point to lower |
prices of products. and Bessemer iron |
is again lower at Pittsburg. Southern
No. is offered at $40. delivered at AL
bany, and sales of bar iron at 1.8 cents |
are reported. No large contracts for
domestic rails are noted, but the Mexi- |
can National is said to have made |
heavy purchase in England. The whole |
market now still tends downward, and |
manufacturers act with exceeding
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