The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-28

would hake no difference in operations
at the Daly-West, as the mine was
being put in shape for extensive op-
erations as fast as possible, anyway
Manager Thomas Kearns of the Sill
yer King mine, said he thought the
smelter combine was possibly responsi-
bic for the advance. He believed the
smelling trust was going to prove OF
great benefit to the American miner,
rather than a detriment, for the reason
that it was strong enough TO dictate the
price of silver-the few being better
able TO control and handle the bust
ness than could the many.
Will Help the Ontario.
Superintendent R. C. Chambers of the
Ontario said that with silver at 63
cents or better the mine could be op-
Grated at some little profit and Il fur
ther advance in the price. especially
If 1t showed signs of permanency.
would undoubtedly hasten operations
at the mine-an Advance was all the
company had been waiting for.
David Keith thought the present rise
was due to some speculative movement
with which he did not pretend TO be
familiar. He thought, however, as cop
per was now having it's inning, it would
soon be time for silver to take a turn,
and he, of course. hoped it would.
w. F. James, president of the Utah
Ore Producers association, thinks the
rise is due to the fact that there has
been no surplus production for some
time, while the demand has been stead
lily growing in the Orient AID else
where. AS long as these conditions PIE
vail the price Will probably advance.
Had spectators and maripulatOrs net
been in combination to control the mar
ket, silver would now be worth 50 cents
an ounce.
John Dern was not individually in
terested, but he was glad TO see the
price of the white metal advance.
p. I. Farnsworth looked for con-
tinued rise in the market price of the
metal and a stronger tone in the silver
industry. He attributes the rise to the
fact that bonds and stocks in all other
lines than mining have been doomed
to the top notch, and ne believes that
mining is now to experience the same
treatment. When the price Of every
thing else is up, the price of silver must
so up also.
w. V. Rice placed no significance in
the rise. believing it to be the work of
spectators. He looked for no perma-
nent increase in the price
C. E. Allen Talks Trust.
Ex-Congressman c. e. Allen. man
ager of the Centennial Eureka. said he
had had no time to look into the matter
to speak upon it intelligentIy. so as to
really express an opinion. Il viii say
this said Mr.. Allen, the smelter
trust has it in its power to do just
about as it pleases. 1t can increase the
price of silver if it wishes to do 50.
Whether that is the reason for it or
not L don't know, but they certainly
can raise the value of it if they want
to-" Mr.. Allen did not believe the de-
mand for silver had so greatly increas-
ed on account of our new colonial pos
sessions as to make any material diff
ference in the price of it. if any at all.
Captain Egan was Of the opinion that
the demand had increased for the use
so much that it naturally caused a
rise. The Philippines want silver,
Cuba and Porto Rico want silver" said
the captain. We need it in our busi-
ness transactions every day, and [ hope
to see every silver mine opened up
again" The captain believes the price
will still advance, and that it viii 20
up TO 20 cents before it goes back to
where it has been.
Thomas G. Merrill. when asked for
and the present rise in the white metal.
said: II think it viii go to 90 cents be-
fore it stops. There has been an uni
VerSal demand for it. 1t is possible the
smelter trust is the cause of it. 1t is
likely that the managers of the trust
want the silver mines to operate again.
They cannot operate with the price of
the white metal down to 30 cents. With
the mines closed down, the smelters
lose the treatment charges on the ore
the silver mine-OWners cannot afford
to produce. They may see if they force
the price up a little silver mines Will
open up, and the trust viii profit by the
increase in the amount of ore handled" :"
Should Have Advanced Before.
Manager NJ. H. Hunt of the Alaska
mine is surprised that silver has not
advanced long before this Every other
metal has advanced in price. Look at
copper, where it is continued Mr.
Hunt. why, there. is no reason why
silver shouldn't go up. too. We have
new uses for silver in our new possess
s1ons. L have expected this to happen
for some time, and am astonished tnat
1t has not, when everything else has
gone upwards"
Its a great big money-making
scheme" said E. D. Waterman. Those
fellows over there have kept silver
down for years; have bought II IN
cheap, and now the scheme is to ad-
vance it little and make a nice clean
up. | expect to see silver go higher:
the big combination can keep it down
or uD, Just as it feels about lit. The
are that it will remain UP
long enough to see some of the silver
mines start up again.