The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-01-21

At a meeting Of the governing board
OF the mining stock exchange held yes
terday afternoon, Colonel j. W. Don
nellan. president of the exchange, pre-
scented the following paper, which was
unanimously adopted by the board and
ordered printed IN pamphlet form for
distribution.
The paper is a most valuable one, as
it makes q comparison between the
Rand district, in Africa, and the Camp
Floyd district, in Utah. and as the
colonel has given a great deal Of study
and thought TO the subject. and his
facts and figures being unassailable
ana correct, the article cannot but
prove TO be OF great interest TO the
mining public as well as OF inestima-
bic value in the growth and develop
ment OF Camp Floyd and other Utah
districts.
THE PAPER.
To the Board OF Governors, Salt Lake
Stock and Mining Exchange:
Conference.-The experiment of the
establishment of a stock and mining
exchange IN this city has been attend
ed by a reasonable measure Of success,
and with such changes in its rules and
methods of transacung its business
as are suggested by the practical eX-
perience attained in the daily routine
Of the work of the exchange, it viii
doubtless reach the fun measure Of
prosperity and usefulness predicted for
II by its original promoters
That there is need for such an insti-
tuition IL Salt Lake City is evidenced
by the fact that there are few cities
either in the United States or Europe
of the size and importance of this city,
that have not like Institution under
variety o, names. In our case the
overshadowing Importance of our min
ing interests suggests the name Min
ing Exchange" 1t 1t quite time that
our citizens realize the necessity OF
fostering and encouraging in every pos
sible way the development of the
mines Of Utah. The farming. banking.
manufacturing and commercial inter
ests of the state all draw their life
and sustenance from the mines. The
miners create q cash home market for
all the products Of the farm and the
factory. We are SO remote from the
great centers OF populat ton as to pre-
Clude the possibility Of exporting Our
surplus farm products except livestock
and wool hence the Importance of fos-
,
mines are opened, furnaces built or
mills established, land grows in price,
as consumers and producers are
brought together, thus being freed
from the exhausting tax of transpor-
tation. Prosperity comes with diverSi-
ty Of employment and occupation. In
this direction lies our ability and op-
portunity to build up a great. power
full and PROSPEROUS community. Min
ing has been characterized as a specu-
lative business. partakng Of the nature
Of a lottery. with but few prizes and
many blanks; but such is not the case
I'm Utah mining as is well demon
strated in the fact that the
mines which make public re-
state, have UP to date. paid thirty mil
lions Of dollars in dividends. while the
private mines and close corporations
have paid probably ten millions addi-
tionaL In the production Of this en-
ormons profit. there was probably ex-
pended for labor and material a sum
exceeding fifty millions.
THE MINES OF UTAH.
The mires Of Utah have but Just
commenced to be developed In every
one Of the old mining camps, new
mines are being opened In Park
City there are several possible Silver
Kings" to commence distributing to
their lucky owners their rich divi-
bends in the near future.
TLNTIC.
In Tintic are several possible rivals
of the great Centennial Eureka" and
Bullion Beck" There are many new
producers in Bingham, while in the
Marysvale district Telluride ore. SINH |
lar to that Of Cripple Creek, is re-
ported 10 have been found and Just
over our border, in Nevada. at De
mines in the country are being actively |
worked and yielding rich returns
MERCUR.
In the great Mercur gold district. /
the similarity of the formation to that /
OF the Rand district in South Africa
IS most marked. In both cases the
gold occurs in the non-metallic form. /
or if it is in metallic form it is an i'm /
palpable powder, and the Rand, as /
well as the Mercur, owe their existence 4
as productive mining districts to the
discovery OF the cyanide process.
THE RAND.
The Rand auriferous district is said
to be twenty-seven miles long by
two miles Wild The gold bearing (
strata is a bed of gravel, which .
subsequently. to its deposition, became /
saturated with an eruption of min
eralized solution, which cemented the !
gravel into a conglomerate. The gold
Is found in the .cementing material /
there being no trace Of gold in the /
pebbles of the conglomerate In Ike I
manner the values in the Mercur ores
are found n the incrustation in the
interstices and cleavages of the rock. /
there being but little gold in the rock
itself. The uniformity of the metallic /
contents Of the conglomerates of the I
Rand is quite remarkable. The aver
age yield is about S14 per ton 1t will
be remembered that there is like uni