Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-12-23

ivan > mining ttcoIu lOI 1879 ID hNNN
short Of marvellous. considered from
any point Of view. More new claims
have been opened than during any pre-
oeediug twelve months, and the metal
output has exceeded that of any year
In the history Il mining in Utah Mil
lions Of outside capital has come TO
this State for investment in mining
Enterprises and some gigantic consolida-
lions have been effected, which later on
will produce immense benefits 10 the
owners aud to the industry generally.
in considering the big output, the low
price Of silver is TO be considered along
with 1t. The increase has been all
along the lire, and has been contributed
10 by every district in the state ana
by many new properties.
The gain, however, has been chiefly
In copper, the greater portion OF which
has come from Bingham. The discovery
OF the red metal there, in immense
quantities, has revolutlonized the old
time lead camp, and made 1t vastly more
important than ever. This was brought
abou, almost entirely by Hon. Samuel
Newhouse, whose sound Judgment, en-,
terprse and ability have done 50 much
for the West To him, the mining in
dustry here owes big debt. The out
put from the Highland group has been
enormous this year, and In connection
with the mine, the great smelter down
the valley plays an important part. The
copper Is turned out there In pigs. and
every week 1t Is shipped east by the
car load As yet the company Is not
prepared 60 make public the details Of
its operations, but as everyone knows
the Newhouse project has proved sue
cessful beyond all expectations.
Tintlc, too, has increased It's copper
output, and even Park City Is heard
from. the Valeo contributing each week
with a considerable shipment,
The total value Of the metal output
Of Utah in 1898 (these figures being
computed by Wells, Fargo & Coz, was
S92i7 5S3s1.
This year the total foots up to $li,-
23.054O7; estimating the value Of the
metals as closely as possible, with the
| quotations huctuatlng considerably, and
with the complete returns not yet IN.
| This means a. net gain over 1885 OF
practically S2OOO,0OO, the exact figures
being $1,Si55 5000
The gain In dividends for 1899 Is most
encouraging the total amounting Ia
Gle e upon two mil ions and over quar-
ter Of a million more than In 1898
These figures would have been heavily
| augmented but fer certain conditions
which do not at all effect the actua
earnings OF the properties. but for th'
| time being keep the dividends back. Fol
| instance. the Centennial Eureka is II
better shape today than ever before. i
has more rich ore blocked out and Il
| probably taking out more ore. But tn'
mine was sold a few months ago by
Messrs. Woodman, Chisholm and thei
associates TO eastern capitalists for 81,
100 OOo and the new owners have stopped
paying dividends pending a reorganiza
ton OF the company by them, while III
earnings are being accumulat ted.
Then there Is the case OF the Crane
Central which stopped payments 10
some time on account OF litigation witt
the Mammoth. To prepare for the lega
battle this company also tied up Il
earnings. The Sacramento Is missed /
the extent Of 5000 a month, because o
Improvements being made.
The dividends given here. however d.
not by any manner Of means represen
the amount earned by Utah mines
Some fine properties are owned by In
diylduals, who do not dclare dividends
Of course. but nevertheless receive
snug sum each month. In addition
there are some close corporations whicl
pay dividends without any announce
ment The most striking nlustratio
Of this latter class is the Golden Gate
at Mercur Capt De Lamar's BONANZA
No details are made public, but III
mill sends out gold each month estl
mated at not less than $4,000. It
believed that $lO0 600 Of this Is for IN
profit, but taking minimum figure
the captain can hardly receive les
than $4,000 a month profit from IN
Golden Gate, which would give hlr
100000 year.
Then there are in Tintic such prop
critics as the Humbug, Gemini and Go
diva, all Of which pay their owners wei
At Bingham there are the Hlghlan
Boy, Keystone and Fortune. which pu
a balance on the right side each mont
The mines of Utah have a splendl
adjunct In the home smelters, locate
in the valley south Of the city and III