The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-01-27

OF lead and silver. A quantity of this
ore was taken out las year, sorted 81
surface. the first class being sold and
shipped. There exists on the dumps
10, 600 to 1900 tons of the second class
ore left after sorting. Efforts have
been made to sell this, but have failed i.
cost of transportation and reduction
being greater than it could stand.
The WINES going down from the
twelfth level showed the existence of
the vein as far as it was driven; also,
that the water could be controlled by the
appliances on hand without pump.
The intense hear prevented any exten-
sion Of the work along the vein. No
ore was found in going down.
On the twelfth level the drift had
been extended along the foot-wall
nearly 200 feet south of the cross cut
from the shaft. always vein matter,
but thus far without ore. Work was
discontinued in this drift to admit of
sinking the winze below it. No cross
cut from the shaft exists below this
twelfth level.
There is on hand ample tools OF all
kinds for tho work, and fair quantity
of timber, and more contracted for
that will be delivered this month.
All the machinery is in good condition;
some slight repairs needed will be
made during the Christmas holidays
tits curious complaint that reaches
US from New York and other cities east.
Business men in that part of the world,
famous for its billiards and snow
storms at this season of the year, say
that mild weather retards business ;,
and the practical effects of the recent
agreement of railroad presidents and
bankers begin to be better understood.
1t is seen that an advance in rates has
already checked for the time the dis
tribution of products; that is, it in
creases the one difficulty which had
beclouded a sky otherwise clear. On
the other hand, anxious manufacturers
ia the iron and other connected indus
tries, when searching for signs of en-
larged consumption, are forced to notice
that the agreement of bankers, to the
effect that they will do all they can
to discourage the building OF compel
ing railroads, does not promise large
increase in the demand for iron. The
immediate effect in the iron market is a
weakening of prices. The movement
of dry goods is greatly retarded in
nearly all parts of the country, by the
unreasonable weather, and while sales
of woolens are but moderate, there is
no animation in cottons. though prices
are firm. The open winter affects mar
keting of goods by country merchants,
and also retards marketing of products
by farmers, and therefore collections,
so that complaints Of slowness are
much more numerous. But the
money. markets at substantially all
points reporting are we'll supplied and
easy, though at some the demand is
good. While actual dulness of trade is
complained of occasionally. at most
points business is called quiet or fair
for the season. The general average of
prices tends downward. the fall since
January 1sf having been over 1 per
cent. The wheat speculation has again
declined, the exports from Atlantic
ports for six weeks past having been
phenomenally small. In the light of
official reports. it is estimated that the
surplus for export during the remain
ing half of the crop year must have
been about "a million bushels January
1st, of which only about 10 million
bushels were on the Pacific Coast. from
which exports have been s million
bushels larger than last year to
date. The business failures occurring
throughout. the country during the last
seven days. as reported by r. G. Dun Il
Co., number for the United States
2S4, and for Canada 46, or a total
of $50; as against a total last week OF
38l, and 3S7 the week previous to the
last. For the corresponding week of
last year the figures were 314, made up
of ZIG in the United States and 3S in the
Dominion of Canada. ~