The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-01-20

January and F6Dru8ry delivery, WIKI
prices ranging from So 66@S3.65 at st.
Louis, So IS at Chicago, and 80 85@$3 80
at New York. 1t is reported that the
white lead trust is in some anxiety over
the decision of the New York court,
and that some of the more timld ones
are inclined to bolt, but find that the
bolts of their agreement hold them In.
1t is, however, very clear that this de-
cision is going to make it much less easy
for parties managing trusts to hold
their members in proper subsection.
The metal closed in Salt Lake a week
ago at So IS, and has remained at that
| figure since that time.
Silver has f1uctuated a trifie-and q
trifie only. Closing a week ago at 922z
yesterday the figure was 9SH.
To give our readers an idea of the
character of the gold beng taken from
the new placer discoveries on Powder
River, Oregon, we give the statement of
a gentleman recently arrived from
Sparta, that he was shown by an owner
of one of the claims nugget weighing
$50, taken from the bed of the river.
He says the gold is of high grade of
| fneness, and that specimens OF coarse
gold seem to be the character of the
country.
About nine carloads of ore are now
being shipped from Tintic district daily.
The shipments are rather light. COM
paratiYely, but far in excess of those of
| year ago.
During the year 1888, the total of
2S0, 800 tons of ore were extracted from
Comstock lode mines. The income of
the Sutro tunnel for last year was
therefore $250,000. Of the total num-
Der of tons of the ore extracted during
1888, about 100000 tons were trans
ported over the Virginia & Truckee
Railroad to Carson River. and local
mills and the freight realized from its
transportation by the railroad COM
pany will not fall short of $3.50 600. The
revenue derived from crushing it by
stamp-mill owners was 81 1893 500. is
a safe estimate that the stamp mill
owners profits for the year exceeded
81 600 900, not including the value of
sulphurets concentrated from tailings
flowing from amalgamating pans, which
when through the pans will yield in the
neighborhood of $500, 600 more. This
proves conclusively that it is vastly
more profitable to own stamp-mills
than mines. The total cost of extract
ing that amount of ore and handling it
until the metal in it is converted into
bullion was about So $40 900, rating the
cost at an average of S13 so per ton.
Wall street people show but little in
tsrest in the proposition to amend the
Saturday hslf-holidsy law. The idea
of making Saturdays in June, July and
August full holidays would probably be
satisfactory to them. But they do not
anticipate that anything will come OF it
at present.
The directors of the Salt Lake Pro-
duce Exchange meet tomorrow, when
an effort will be made looking to the
Inauguration CT method whereby an
opening will be found for the many
thousands of bushels of potatoes now
on the market. 1t is understood that
at least one of the railways has init |
mated desire to assist the growers and |
shippers in this matter, and the latter |
say that the tariff exaoted by the rail- |
ways is the only obstacle in the way of |
an outlet.
OF American mines in the London |
market, the correspondent of the Min
ing Journal has this to say: 1.-The OK.
pertinent of investors in mining shares
during the past year should have
taught some wholesome lessons-let us
hope it has. The appetites of the pro-
moters has increased to such an extent
that it has been rendered almost an i'm.
possibility to place really meritorious
at fair figure. For some
time past cheap properties have been
the fashion, disguised under soma
newly coined name situate in some lu4
cality that is inaccessible and vouched
for by reports OF engineers in many
cases utterly unknown and unquali-
fed. The result has been q per-
fectly natural one. Investors, fail
ing to realize the handsome profits
promised in prospectuses, have grad
ually let 60 their holdings, and the re-
cord OF the year shows a depreciation
IN value in most of the shares on the
list. At the commencement of the
year prices were considered low, and
the spring was looked for anxiously,
that being the mystic period when the
expert readers of the market looked for D.,
IN Improvement. Spring came and .
passed, but no BOOM With May came
he season, and what should have been
1mn er weather and a seasonable mar
zet, both were signal failures. Towards
he latter part of the year, however, Z
things frightened, and at the close
ooked decidedly encouraging. At the
close more cheerful spirit is evident.
settlements have been satisfactory, and
mere Is a marked improvement in I
american shares. The tendency is :
'oWaro America, and your mines are
iaoie 20 meet with considerable atten-
ion during the coming year"