davidaulloa/AmericanStories huggingface dataset:
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21

from the interior. noted in the previous
weeks statement, continues. the banks
having gained from this source alone
within six days over s., 00e. GOO. There
is every indication that this movement
will be continuous, although the ac-
tivity of business at all centers and
the changing conditions in the position
Of country banks may interfere with
it 10 some extent. 1t is not to be over
looked that loans of banks outside of
reserve cities have expanded in three
years over $235, 600 900, which is a larg-
er increase than reported by the re-
serve centers themselves. and this
foreshadows general demand for
funds in what may be regarded as
country districts and which may retard
the flow of money TO this and other i'm
portant points.
Still, the metropolitan banks have
never failed 70 gain heavily in cash
with the beginning of each year. and
the same experience is to be antici-
pated now. The heavy dividend period
now approaching may result in some
shifting and disturbances in the mar
ket for a week or two, but these win
be only temporary in character. The
formation of bankers pool. the fall IN
exchange and the completed liquidation
in the stock market lead to the logical
conclusion that the money market for a
few weeks at least will cease to be the
center of absorbing interest in financial
circles. With the gradual fan in in
terest rates, however, the exchange sit
uation possibly viii strengthen to the
point where gold exports viii have to
be taken into consideration. Such eX-
ports are not regarded as an immedi-
ate factor.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
No Significance Attached to Yester-
davis Dealings.

New York, Dec. 20.-There was not
much significance to tOday's trading in
stocks which was almost wholly in the
hands of the professional operators.
Commission houses reported a falling
off in the recent renewed business This
market is disposed to take on an atti-
tude of waiting after the weeks cover
ing movement, realizing that the
money market still has heavy demands
to meet the feeling of greater conf
dence in its ability to do so as a result
of the existence Of the bankers pro-
tective pool. The bank statement en-
phasizes the desirability of the con-
servatism in the use of the creditors.
The stock market rallied sharply aft
er the selling incident to the bank
statement and closed firm. A sudden
squirt in Sugar to 129 helped the final
rally. That stock had been strong
throughout, apparently on the ground
Of the prospect of the adoption of the
Cuban reciprocity treaty. There was
also an animated speculation in Texas
& Pacific which rose to AIS and fell to
1895 under heavy offerings There
was some investment demands for
bonds which were firmly held.
The bond market moved in sympathy
with stocks. United States new As de-
clined y per cent as compared with
the closing call of last week.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Bank Statement.

New York, Dec. 20.-Thef statement of
averages of the clearing house banks
of this city for the week shows:
Loans, $S75, 300; decrease. $780,
Deposits. s8s7.85s.OOO; decrease. So
S75, 200.
Circulation. s45.s15.7OO; increase. $780,
Legal tenders. ss8,O7s.oOO; increase.
Specie. s15s.s7s.6OO; decrease. 1885,
zoo
Reserve. $2S5.O57 500; decrease, s1.762.-
100
Reserve required. s21S. 1864. 900; de-
crease. 81, ASS, 500.
Surplus, $S,O93. 500; decrease, $2s5, 800.
Ex-United States deposits, $18,1 43, 100;
decrease, 1884, 975.
The Financier this week says: Ac-
cording to the estimates of known
money movements in and out of New
York last week the banks gained over
$500, 900 in cash. but the bank statement
of Saturday, compiled on averages,
showed loss in cash of s.. 762. 100. This
decrease, insofar. as it affected surplus
reserves, was offset in large part by a
reduction of S5.S75. 200 in deposits. the
excess reserve falling only 1926, 300, to
$S.903, 500, which is S2.000000 above the
total of a year ago.
Inc decrease Oh $3-5lO,2OO IN loans is
a beIated record of the previous weeks
liquidation, as nothing of Importance
has occurred in the present market to
indicate much of a change either way,
so far as bank loans are concerned. The
deposit decrease comedies with the loss
in money and loan contraction, and is
thus accounted for. The total of loans
is still in excess of deposits by $S,000,-
600, but when it is recalled that the ma
e n
increased their capital and surplus
within the past year by $41, 900. 600, this
light excess of loans loses any impor-
lance that otherwise might attach
to it.
Speaking in general. the bank posi-
ton for this season of the year is
sound The early movement Of money
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Mining Notes

Morris R. Hunt will return to Dry
canyon this week.
Ed L. Sheets is back among the brok-
ers on the row again, after a trip to
the coast.
President A. B. Lewis of the Majestic
pected to return from the east in few
days. He is now in Chicago.
J. ]. Burke has returned from the
Johnnie property at Stateline. He says
the warming mp of the new mill Will
begin during the next few days.
Assistant Manager J. J. Broughaii Of
the Daly-Judge Mining company, re-
turned to Park City this morning, after
a couple of days spent in the city with
his family at the Kenyon hotel Mr..
Broughan reports everything moving
along very nicely at the mine and pre-
diets that the near future will bring
dividends.
Charles A. Short. manager of the
recently Incorporated Jennie companys
property in the Stateline district, will
leave for camp tomorrow morning and
with a modest force of men will begin
the development of the ground at
once He promises TO have everything
ripe for a mill during the coming sea-
son.
n. B. White. who has been superin-
tending operations at the Pittsburg
Gold Mining companys property in the
Cariboo district, Idaho, for a year or
more past, came down yesterday to
spend the holidays with his family.
While lots of snow has piled up in the
district during the past few weeks, he
says all preparations have been made
for the winter campaign and next
spring he viii have the mine in prime
condition to. begin milling the ores.1
n. 3. Cole Co., Stock Brokers.
No. 16 West Second South. Tel. 325
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
PARISH ON MAJESTIC.
General Manager Tells of Conditions
at Mines and Smelter.


General Manager w. A. Parish Of the
Majestic Copper company came in from
Milford yesterday and will be in Salt
Lake over Sunday Everything at all
the cOmpany's properties is looking bet
Ter and better, according to Mr.. Parish.
1.-The foundations are all in for the
new smelter." he said, land work has
commenced on the superstructure. The
work is being pushed along as fast as
possible. considering the weather. and
the outlook now is that the building
will be finished inside of a month.
THE new double-compartment shaft
for the o. X. is now down about TWEEN
ty-five feet, and is going down about
two feet day We will be sending it
down faster soon. So far, everything
has been hOisted by a hand windlass.
A within will be installed Immediately
and a little later we viii be ready for
a steam hoist.
AT the o. X. development work is
being carried on steadily. Drifting
for the rich ore chute viii begin soon
on the 400 level. At present this chute
has been tapped as low as the third
level. The Old Hickory is looking bet
ter and better and the same might be
said OF all the company's properties on
which we are pushing development
work"
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
STRIKE MADE
IN THE MIDAS
Gold Ore That Averages Little
Over SIS Per Ton.
OPENING OF A NEW LEDGE
THIRTY FEET WIDE ON TOP,
CARRYING So PER TON.

The management of the Midas, at
Clifton in the Deep Creek country, was
exulting yesterday over the news of
a new and important strike made in
the property one week ago yesterday.
Manager Chapman was in receipt of
a letter from superintendent st. Jeor
which told of the opening of the ledge
in the new tunnel which the company
has been running on the May claim,
adjoining the Midas on the north. The
vein was tapped at a distance of 200
feet from the mouth of the tunnel and
on the dip of the vein at a depth of
$50 feet. When the letter was writ
ten a drift had been run north for a
distance of fifteen feet through two
and one-half feet Of ore averaging a
little over SIS per ton in gold.
Continued in the same direction, -
said Mr.. Chapman, this drift will gain
a foot in depth for every two feet run.
as the mountain rises quite abruptly
TO the north. The vein is undoubtedly
a continuation of that opened in the
Midas claim on the south and while at
a certain depth in the Midas the ores
pinched out on US, the new strike es-
tablishes beyond question the fact that
the ledge grows stronger the farther
north we go. On the north of the
May claim we own another called the
Eagle. On the surface of this claim
the ledge is all of thirty feet wide,
the top rock carrying about So per ton
in gold. The discovery in the May
claim has been made about $50 feet
from the end lines of the Eagle and
before the drift reaches that point 1
shall be surprised if large bodies of
good milling ore are not developed"
The Midas mill was very recently re-
adjusted and improved all through, and
taken off the contractors hands. Every
effort is now being made TO develop
sufficient water on the property to run
it. Failing in this, during the win
ter, a fve-mile pipe line will be con-
structed in the spring to bring water
from a strong source and then the
grinding out of gold dollars will be
carried on steadily.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
IN THE STANLEY BASIN.
Wayne Darlington Brings News
From the Camp.


Wayne Darlington, formerly with the
White Knob Copper company of Mac
kay, Ida. came in from the north yes
terday and IS registered at the Knuts-
ford. Mr.. Darlington severed his con-
nection with the White Knob company
last May and is now living on his ranch
at Darlington, near BIackay, and de-
voting his principal attention to his
gold property in Stanley basin.
The White Knob company, said Mr..
Darlington is at present developing it's
mine and working on the metallurgy of
its low-grade ores. The smelter did not
handle these satisfactorily, and that is
the reason II was closed down. AS
soon as the problem is solved the smell
ter will undoubtedly be started up
again to handle a heavy output from
the mine.
Mr.. Darlington and Judge Lyttleton
Price of Haley, Ida, control the STAN
ley Gold Mines. limited On this prop
erty in Stanley basin a twenty-stamp
mill has just been completed The mill
will not be started up before spring
because there are, not sufficient sup
plies in the camp. and the snow has
stopped heavy traffic. As soon as the
trails open in the spring and supplies
can be brought in, the mill will be
started and run to its full capacity.
Work on the mill has been in progress
for four months, and everything is
ready to start up. On this property a
gold bearing ledge averaging twenty
feet in width has been opened up to a
vertical depth of 200 feet by a tunnel
500 feet long. The supply of ore al
ready in sight is sufficient to keep the
mill going for some time.
Not far from this property the Stan
ley Gold Dredging company has just
completed a $4,000 dredge to work in
the Stanley basin. There are other
properties ir the neighborhOod which
are opening up in a promising manner.
1.-THE travel to and from. Thunder
mountain has practically stopped said
Mr.. Darlington II expect it Will open
again in the spring. I have talked with
a large number of people coming out of
there. Some tell one story and some
tell another, but it looks to me as if
there would have to be a large amount
of prospecting and development before
any big camp is opened up"
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
TREwEEK ON UTAH MINES.
Salt Laker Is Interviewed by Boston
Publication.

Colonel Nicholas Treweek, president
of the Wabash company, has been in
terview in Boston by the Boston News
Bureau, which says:
Mr. Nicholas Treweek, who has
been identified with Utah mining prop
critics for the past thirty-five years
and is at the present time associated
with Mr.. w. 5. Mccormick in mining
enterprises, is in Boston. He says:
Utah has more dividend paying
mining properties than any other state
in the Union, and it is fast pushing to
the front as a copper producer. I con-
graduate Boston in being interested in
three such worthy properties as High
land Boy (Utah), United States Min
ing and Bingham Consolidated. Their
values and prospects have not been
overestimated- They all have large
and valuable ore bodies and copper can
not go low enough n price but what
these three properties will be able to
make money for their stockholders;
for If copper goes low enough to shut
down the Lake Superior and Butte
mines, the Utah properties have snffi-
Gent gold and silver by-products to see
them through.
With the properties controlled by
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Pages Special Market Letter.

No other legitimate business offers
possibilities of so large a return upon
an investment as does mining, and al
though not all mining ventures are
fortunate, the net results show an av-
erage of large profits en- the total of
money invested All or the money of
the world came from the mines either
of this or some other country. Ny ad-
vice is, that If you can spare the
money, invest something in mining
One may spend an entire lifetime toll
ing and saving, with nothing more
than a competence at the end, whereas
a fortunate investment in mining will
bring one at once into wealth.
Without risk there can be but little
gain 1t is well for the capitalist to
buy the dividend paying stocks, they
bring immediate returns upon the in
vestment, but for one of moderate
means to become wealthy through
mining he must begin at the bottom
and buy the stock before develop
ment of the mine reaches that stage
where the price becomes so high as 70
place any considerable amount OF stock
cut II reach If you ask my advice
as to where 70 invest, I will give you
my best judgment. During the past
week trading on this exchange has not
been up to the average and business
has been confined principally to deal
lngS IN the medium and lower priced
stocks. Ajax has been fairly active be
tween 24c and 25c, and Ben Butler
around Sc. California, &c bid. Carisa
closes about lie and Century at
Gle bid. DaIy-Judge has ruled
higher during the week but closes on
decline to 1925. Consolidated
Mercur is selling at S1.74 Onta-
rio and Daily, under the same manage
ment, are both weak. DAILY West
closes at about s3S, and as an invest
ment is gilt-edged- New ore bodies are
developing in the Lone Pine. There
is every prospect of a return of 20 TO
1 on money invested in this stock
Grand Central and Eagle & Blue Bell
are quiet and inactive Lower Nam
moth shows no strength and closes at
20 cents. May Day has ranged between
1T12 and. 20 cents. Sacramento and
Park Summit are strong a little below
80 cents Buy either. New York has
ranged between 80 and 40 cents Wa
bash is active between Sc and IS cents.
Utah remains at 90 or a little below.
HOmestake and Park City Star are on
the market at 25 cents each and are
worth buying
I shall be pleased to give any special
information Obtainable upon request.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
STRIKE IN MARGARET.
Full Breast of SO Ore in West
Drift on 22O-foot Level.

Manager Grant Smith of the Mar
garet property at Stateline was yes
terday in receipt of advioes from camp
TO the effect that big strike had been
made in the west drift from the 220-
foot level of the new double compart-
ment working shaft. To the east fine
bodies of ore had been previously
opened and the drift west was finally
started with the purpose of tapping a
big chute of ore believed to exist on
that side -~--e-- 49,
At a distance of fifteen feet from the
shaft the ore began 10 make its ap-
pearance and the letter to Manager
Smith stated that work was progress
ing in a full face of SO rock. The
Margaret is developing into one of the
biggest mines in the district.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
SETTLEMENTS FOR WEEK.
Mines Yielded S35e,eOo to Their
Owners.

Ore and bullion settlements in Salt
Lake amounted to $685., 800 last week.
This is a considerable increase over the
previous week, when they totaled $3.50
lao. The week before they were S456.-
S45, making a total of S1.105,SS5 for the
first three weeks of December.
OF course most of this comes from
the three great camps of Park City,
Bingham and Tintic, but there were a
number of shipments from properties
which have barely passed the stage Of
prospects in other camps, with a few
contributions from IGaho and Nevada.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
LIVESTOCK MARKETS.

Chicago. Dec. 20.-Cattle-Receipts.
800. Market strong Good to prime
steers, $40 $50; poor to medium, 5000
6-25; stockers and feeders, 2.O06A5G;
cows, L50@45O; heifers, 2.0OG5.O0; can
ners, 1-25Q2.40; bulls, 2.00Q4.40; calves,
3.O0Q7-25; Texas fed steers, 3.7564Se.
Hogs-Receipts today, $1,000; Mon
day. $4,000; left over, 1000; IO615c
higher. Mixed and butchers, 5000
$50; good to choice heavy, 6.35636.5 f;
rough heavy, 6.O0Q6.25; light, 5.60G6.05;
bulk OF sales. 600G6.30.
Sheep-Receipts, 1.500. Sheep. dull:
lambs, lower. Good to choice wethers.
3.75@440; fair to choice, 2.7563.75;
western sheep. 3.5eG44O; native lambs,
4.00Q4.35; western lambs, 400q5.35.
Kansas City, Dec. 2O.-CattIe-Re-
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
VIII Operate Near FRISCO.

Articles Incorporating the Michigan
copper & Gold Mining company, with
salt Lake as the principal place OF
business, were filed with the county
clerk yesterday There is a capital
stock of $500, 600, divided into shares of
the par value of 81 each. The officers
are: NJ. H. Osborne, president; Charles
c. Wirth, vice president; T. G. Love,
treasurer, and Lemert c. Van Voorhis
secretary; who, with Owen Groves and
r. NJ. Johnson, are the directors. The
company will develop the New York
mining claims Nos. 1, 2, and 4, stu
ated in the San Francisco mining dis
trict, in Beaver county.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Money. Silver and Finance.

New York, Dec. 20.-Noon.-Money on
cali nominal; no loans today; closed 312
"A per cent; time money steady, so and
90 days, 6 per cent; six months, SO per
cent Prime mercantile paper s per
cent; sterling exchange barely steady,
with actual business in bankers bills
at 4S65094.S6625 for demand at 4.S2756
4.S3 for sixty days; posted rates, 4.S4@
4.871z; commercial bills, 4.S2A 94S31z :;
bar silver, 483s; Mexican dollars, 3SA !;
government bonds steady; railroad
bonds firm
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Metal Markets.

New York. Dec. 20.-Business was
quiet in all branches Of the metal mar
ket today. Prices were generally I'M
changed. Tin was quiet at 25.50Q25.65
for spot.
1915 for standard. 1855 for lake AMI
As for electrolytic and casting.
Lead quiet at AS for spot.
Spelter quiet at 4.871s for spot.
Iron quiet and somewhat nominal at
last Dr;ceS
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
BLUE ACRE IMPROVING.
Good Copper Ore Is Found in the
Shafts

Reports from the Blue Acre COM
pauy's property, next to the o K in
Beaver county, tell of highly encour-
aging developments. Three shafts are
being sunk to prospect two veins at
different places, and in two Of these
the showing of copper ore is becoming
richer and larger with depth.
In sinking on the vein, copper ore
running as high as 40 per cent has
been taken out This ore is similar in
character to the high-grade ore in the
q K, and the management is pro-
ceeding on the theory that develop
ment will prove they have the extern
sion of the o K vein.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Open Board.

400 Consolidated Mercur at S174.
100 Lower Mammoth at nc, buyer 30.
100 Lower Mammoth at zoe
1,ee0 Lower Mammoth at CSC.
800 Ben Butler at Sc.
1000 Martha Washington at sac.
500 New York at 34c, seller 80.
600 New York at 35c
800 Wabash at 631ac.
E 1G6 Wabash at 69l4
] 400 Wabash at 69c.
LOCO Martha washington at SIC.
Total open board, 1900 shares.
Shares sold. 20. 400.
Selling value, SS.1S4
Total for week. 33S.513 shares.
Selling value, S121, 1882.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21

ceipts. 1900 Steady. unchanged.
Hogs-Receipts. 3.06e Market. strong
to sc higher. Bulk of sales. 6.05G61712:
heavy, 6I21a $3.50; packers. 5-009S.15;
medium, 6.o5@6-20; light. 5S5d610;
workers. s.0e@S10; pigs. 5.50G6.00-
Sheep-Receipts, 5000 Market
steady. Muttons. SOOG41O: lambs. $50
q5.45; range wethers, S.00Q4.65; ewes,
S.O0G4.2O.
South Omaha. Dec 2o.-CattIe-Re-
ceipts, geo. Market. slow. Native
steers, 3.o0G6.00. COWS and heifers. 2-S5
G425, western steers, 3.0064.50 Texas
steers. 3.O0G425: cows and heifers,
range. 2.5063.75; Gamers, 1902 so:
3.5oG6.00; bulls. stays, etc, L7563.75.
stronger, sc higher. Heavy. 6.G06610;
mixed. 6.00G6.05. light. 5-Se15-00; pigs,
5.9045.90; bulk Of sales. 6-00@6-05.
Sheep-Receipts. 1000. Markee.
steady. Fed muttons. 37504-5O: west
ems. S-50d4-00; wethers, 3.60G430;
ewes, 2.T5G4-25; common and stoekers,
1.25Q3.25; lambs, 4-5094.25.
Denver. Dec. 2O.-Cattle-Receipts.
100. Stronger. Beef steers. S,75G450:
cows. 2.50GS.50; feeders. freight paid
to river, 3.50G40O; stockers, 3.0OG400;
bulls. stays. etc, 2-5OG3.50.
Hogs-Receipts. 500. Higher. Light
packers. 61e96-15; mixed, 6.05q6.10;
heavy, 6.056610.
sheep-Receipts, none. Market, IN
changed.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Bonds the Ella.

Eureka, Dec. 20-Mrs. T. D. SuIIi-
van has taken six months option on
j. A. O'Brien's interest in the Ella
claim, which lies 500 feet east of
Knightsville and will develop the
water supply by sinking and drifting
to the water-bearing assures in the
prOpertY.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Transfer of Gold.

Washington, Dec 20.-TOday's statement
of the treasury balance in the general
fund, exclusive of the S159.o00000 gold re-
serve in the division of redemption, shows:
Available cash balance. Szl1.366.O44; gold.
$122 023,2ls.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Yesterdays Sales.

Consolidated Mercur, 30OaSlT4.
Daly-Judge, 200dS9.25
May Day, 500G1Sc
Sacramento 1.J009I30c-
Utah 40cN5Sc
Ben Butler, 3.00odSc.
Black Bess. 50Gd65c.
Martha Washington. 1.0O002ssc; 3.00061
2S4c; 1.OWG3c. Total, 5000 shares.
New York. 500134Ac; 5G8Q34%4c Total.
600 shares.
Wabash. 5OOG7Olac; 1O0q7Oc; 3OOQ69l2c; 100
@69c. Total, 1,G00 shares.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
Metal Market.

Silver, 1885 cents per ounce.
Copper, II cents per pound; New
York, 11.45 per hundred pounds
Lead. American Smelling & Refining
company price, $3.50: New York, $4.121k
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21

Cut Glass always pleases. Why not
take advantage of the special bargains
shown in Crockery department. Scott
Strevell How Co Second floor, take
elevator.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
New York Mining Stocks.
San Francisco MINING Stocks
Ore and Bullion.

Ore and bullion settlements in Salt
Lake yesterday, as reported by McCor-
nick & Co., amounted to SOS. 800, as fol-
lows: Silver, lead. copper and gold ores,
S3S, 400; base bullion, SIS, 800.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21
The Hand Of Man

Ll1o htIIu OL MAJ
Welcomes the Glove as a fitting holi-
day gift. Our lines-the famous Per-
rim, Fisk, Dent and Fownes, lined and
unlined
BROWN, TERRY & WOODRUFF Co,
166 Main Street.