The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-02-10

news from Inherent SECTIONS or the
country would cause an advance. st.
Louis is probably the most radical bear
market in the country, and if the feel
ings of most of our trade were con-
suited wheat would sell cheap. New
York has led the decline, aud the dull
ness there is caused by their large
stocks and no demand"
The public debt statement shows thai
the reduction of the public debt during
the month of January amounted to
$l2 ZIG 2S4.75. Total cash in the treas
ury, S617 ,910, 4S3.7 Y. The funded debt
total debt, less the cash in the treasury
is 81 .121, S45 973. Tue total assets of the
treasury are 1920. 249 GIG.
Br- dstreet says: Prospects for spring
trade are good. There is fair volume
of merchandise moving at Boston, but
no unusual activity. Elsewhere bust
ness is less active, st. Louis reporting it
to be only holding its own. At that
city, however, some $4,000 tons of pig
iron have been sold, groceries, hard
ware and drugs being relatively most
active. The unreasonable weather is
complained of at New York, Philadel
phia, Pittsburg, Detroit. Chicago and
Galveston, and share of the backward
trade Is reported due 10 it. The open
winter depresses trade in stoves, coal,
groceries and rubber at New York City,
but renders the building trade very
active, with q demand of SO per cent.
in excess of the first month in 1888
Trade in the first four lines ia quiet or
dull, as are also drugs lumber and leaf
tobacco, raw wool, leather and hard
ware. Jobbers IN leaf tobacco. cigars,
lumber, prints. jewelry and silk goods
report trade fair to active. Nearly all
lines of cotton goods are seasonably
active in jobbing circles at the east.
A 36-inch vein Of rich iron ore has
bssn discovered near Rock Springs
Wyoming. 1t carries 81 per cent, and
has been traced o dIs.ancs of over TIVE
| miles.
Some excitement has been caused in
Evanston by the discovery of coal on q
school section adjoining the town. A
coal deelaratory statement has been
fled upon the land by local associa-
| ton composed of four Evanston men.
They claim to have discovered q 17-foot
| vein of coal, and development work has
already been commenced.
Ever since the collapse Of the Big
Bonanza on the Comstock. Virginia
City, Nevada, the problem has been to
discover some process by which low
grade ores May be handled probably
The Sutro tunnel lesssned expenses
greatly, but the heavy cost OF fuel and
the high price OF labor have made IT
impossible to work most of the mines
probably, and the result has bsen a
drain of over $40, 900, 900 in assessment
from stockholders in the last Iwelvs
years. Only one mine on the CONS took
is now paying dividends, yet with the
cheap working of ores, at least score
of the mines would become dividend
payers. The solution of this problem
Is claimed to be found Ia electricity. A
successful test was made recently of q
sixty stamp quartz mill. which wss run
by electric power generated in the Sutro
tunnel, where it meets the Choliar shaft;
LOO feet below the surface. The great
low of water from the Chollsr shaft is
conducted in pipes, and falls on six
large Pelton water wheels with pres
sure OF $50 pounds to the square inch.
| These water wheels run SIX Brush dy-
namos in the tunnel, and the power
thus generated is transmitted to the
surface and delivered to Brush motors
that make $50 revolutions per minute.
OF this enormous power generated in
the tunnel, so per cent. reaches the sur
face and runs the stamp mills. 1t is
claimed that this establishes the claim
of electrical engineers that the great
water power of the Truckee River,
sixteen miles from the Com stock mines.
may be utilised in this way. II the loss
of power be 40 per cent, then at least
1000 stamp mills could be run, and
many low grade ores worked proftably.
Thus the Comstock mines, which have
been a constant drain on the pockets
of poor stockholders, may at last pay
back some of the millions sunk in as
sessm ents.
Dissatisfaction with the state of trade
in New York Is increasing, and failure
of merchants to distribute goods pur-
chased in expectation of the usualde-
mand for the season causes numerous
embarrassmsnts,a and general complaint
as to collections. Sxelled by spscula-
ton in stocks and in products, the