davidaulloa/AmericanStories huggingface dataset:
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
HEAVY BUSINESS
IN WALL STREET
Enormous Individual Transactions in
Amalgamated Copper Stocks
Yesterdays Feature.
MANY PROPOSED MERGERS
SPECULATION GREATLY AFFECT.
ED THEREBY.
MANY PROPOSED MERGERS

New York, Feb. 2-The feverish activ-
ity and voluTninous business today tended
rather to obscure the diminished specu-
lative interest in the market as a whole
Such a falling off of interest with a
wayering of prices. usually follows a Pc
Rod OF speculative readjustment like
that which has occurred this week. The
forced liquidation in the early prices for
the first of the week offered attractive
opportunities to an eager bear clique
which sold stocks on decline with great
freedom. Their necessary buying opera
tons to cover were strong features in
the rally and the uncertain tone of to-
days market was a fair indication that
these operations had been pretty well
completed. Such speculative interest as
there was today confined itself almost
entirely with merger projects in all
stages from the Vaguest rumorS to deti-
mite and detailed statements of alleged
terms.
Some sort of combination among the
recently contending copper interests is
commonly accepted as an accomplished
fact. Enormous individual transactions
in Amalgamated Copper. both on the buy
ing and upon the selling sides had
rather formidable effect on sentiment and
seemed to be an influence upon the heavy
tone of the rest of the market. There
was a wealth of detail of assertion also
regarding the terms of the supposed dis
position Of the iron ore lands owned by
the Great Northern Railway company
The superstition persists that a deal with
the United States Steel corporation for
this purpose is involved, although the
president of the Great Northern is pub
hcIy reported as denying the assertion.
A movement in Great Northern has a
natural effect on Union Pacific owing to
the large holdings of that stock which
accrue to the Union Pacific from that
stocks settlement.
The southern iron group also made a
vivid response to revived merger stories
The character of these adviceS seemed
to be regarded with some distrust and
other stocks were sold. Reading was
affected by the seeming deadlock in the
efforts at J. settlement of the wage dis
pute between the coal miners and opera
tors. The bank statement outlook prob
ably had some depressing effect upon the
general market. Rates for foreign eX-
change were maintained and it is still
considered probable that gold will go out
The general list made some recovery from
the declines and the closing tone re-
NAMED irregular
Bonds vera irregular Total sales, par
value, S3176,6C0
United States IS coupon advanced a
per cent on call.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
GRAIN AND PROVISIONS.

Chicago, Feb. Observation-Disclosures that
the predicted cold wave failed to develop
in the winter wheat section Of the United
States, numerous reports of damage to
the fall sOwn crop were received here to-
day from that section. At the opening
the market was inclined to be weak, May
being off Il to IS, at S44 TO S4Ss Senti-
ment in the pit was generally bearish and
there was free selling by pit traders A
reported increase in exports from Argen-
tina of almost 100000 bushels over the
corresponding week of one year ago in
creased the selling movement. During the
early part Of the session the market con-
unued rather heavy and some additional
weakness was developed on a report that
the condition of fall sown wheat in Texas
was excellent. During the depression the
price of the May option declined to 81. In
the last hour a report made by q trade
journal in St. Louis that the crop of win
ter wheat had been damaged by sudden
changes OF temperature cauSeds active COW
ering by shorts and brought about a
steadier feeling The market closed firm,
with prices at the highest point of the
day: final quotations on May being about
unchanged, at S41kS4ss
Interest in the corn pit was bullish for
the entire day. May closed up 1sQA, at
44izU445s.
The weakness in wheat had depressing
effect on oats, but it became firm later.
May closed unchanged at 3012Q305s.
Trading in provisions was active and
the market was decidedly strong. The
buying was of good character, brokers
who usually act local packers taking all
offerings of pork and ribs. The market
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
STRIKE IS BIG
IN HONERINE
Drain Tunnel Has Been Drifting
Thirty Feet Through Solid
Galena.
VALUES ARE HIGH IN LEAD
TINTIc ORE SHIPMENTS FOR
WEEK ARE HEAVY.

For thirty feet the HOnerine company
drain tunnel level has now been pounded
through solid galena ore in the SHOOT
that was encountered last Monday night
Manager E J. Raddatz came in yester-
day morning with about 100 pounds OF
The ore which was placed on eXhlnluon IN
the companys offices and many OF those
interested in the company saw the sam
pies during the day.
While no assays have been mace on
the material, Mr.. Raddatz calculates from
his knowledge of its characteristics, that
the mass will average between 70 and ~
per cent lead, 80 ounces silver and $l-6O
in gold per ton. For the thirty feet that
has been driven the ore shoot has main
tanned an average thickness of over five
feet 1t is just as strong IN the bottom
as il is in the top of the drift and there
was nothing TO Indicate, when he LETT
camp, when the eastern limits Of the
shoot would be reached With 300 feet
of virgin ground between the 1,lOO-leVel
and the horizon upon which the great
drain and operating tunnel has been
driven there has naturally been some
anxiety on the part Of the management
as TO whether the ore bodies encountered
above would go down that deep, ana
whether they would be good or bad. This
is the first one of many that should be
encountered during the next LOO feet
of driving and the present strike makes 1t
a practical certainty that the fondest
authorizations of those who felt certain
that the biggest portion of the bonanza
was in the bottom are to be realized.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
AFTER A BONANZA.
salt Laker Pulls Out for Silver City,
Ida. to Land 1t.

George Wilson left for Silver City, Ida,
last night on an errand fraught with i'm
portance to himself and those associated
with him, as ii involves the capture OF
q mining proposition in which S0,GUO Sill
yer ore has just been uncovered If the
reports brought down and the samples OF
ore shown are going to amount TO a
fraction of what is claimed, there viii be
a happy bunch Of operators IN this OLD
town within a few days.
Mr.. Wilson said during the afternoon
that matters were in just such a shape
that it was impossible to give any details
of what was up other than that a most
sensational strike had evidently been
made and that Salt Lakers, including
himself were right on the inside for a
big turn If all was right, and he had no
reason to doubt but what it was He
expects to be back during the coming
week with full particulars and arrange
ments made that viii permit his telling
all about it.
This bit of information calls to mind
the statement of a mining engineer who
has been spending a great deal or time
in Nevada lately, and particularly In the
region to the north Of where most OF the
excitement of the last three years has
existed.
my opinion is that the present year
will witness q. succession Of new disclOs-
ures all the way north from Tonopah
and clear through the state to Silver City
Ida said he the other day, Gold, silver,
lead and copper viii all play important
parts In these disclosures, for the entire
country Is rich in mineral For the past
two yesrs or more prospectors have been
doing all their work in the southern
portion OF the state. 1 have noticed that
they are drifting north and they are do
ing just right, for they are now working
in a country that is just as richly min
eraliZed, while the physical conditions
are far better than they are down in the
desert country
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Special stockholders Meeting.

NOTICE IS HEREBY GIVEN THAT
a special meeting Of the stockholders OF
the Wabash Mining comrany, a corpora
ton of Utah, will be held at the com
West Second South street, Salt Lake
City, Utah, on Thursday, the 18th day OF
February, 1906, at 1 o'clock Q. m of that
day, for the purpose Of considering
amendments to the articles of incorpora-
ton. and if the stockholders shall so de-
eide, amending the articles of incorpora-
ton in the following respects. viz:
/ BY increasing the capitalization OF
the company from $4,000, divided into
100000 shares OF the par value of 81 each
to S2.OO0,0O divided into 10000 shares of
sssessable stock of the par value Of S.
each share, and 10000 shares Of non-as-
sessable stock of the par value Of s. each
share, and thereby to reduce the present
number of assessabie shares from 800, GOO
to $4,000 shares. and to provide for 49,
600 of worcestershire shares; the total is
sue 10 be 100, 600 shares. Also to provide
for the issue Of the newly created assess
able stock, share for share in lieu and
in place Of the now issued and outstant-
ing asseSsable stock, and the substitution
Of the surplus then remaining OF the
newly created assessable stock for the
assessable stock now in the treasury and
to provide for the placing Of the newly
created mona SsesSable stock in the trea s.
uTy and to provide for the sale and dis
position by the board OF directors Of all
the newly crea ted asSessable and non-as~
sessable stock in the treasury and 70
provide that all the newly created shares.
both assessable and worcestershire, shall
be considered as fully paid and issued
as fully paid shares.
2. Amending articles. z. II and Is Of the
articles of Incorporation to accord with
and carry into effect the matters above
mentioned.
By call and order Of the board Of d.
rectors.
\. TREwEEK, President.
". Mont. Ferry, Secretary,
Dated January ., 1906.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Metal M arkets.

New York. Feb. 2-There was an ad-
vance of 10 to 15s in the London tin mar
ket with spot closing at e167 IS Cd and
futures at e166 15s. Locally the market
was firm with spot quoted at 36.75Q37.00.
Copper was 5s lower in London with
spot closing at SIS IS and futures at ST.
Locally the situation was unchanged, APP
parently, and quotations are more or less
nominal. Lake and electrolytic are
quoted at 1S.O001S.50 and casting at 1900
Lead was IS higher at &16 los in Lon
don, but remained unchanged at 5.60Q58C
in the local market
Spelter was a shade lower in London,
closing at G26 los and was also easier in
the local market with spot quoted al
6.1O@6.20.
Iron was a little lower abroad, with
standard foundry closing at SIS I'd and
Cleveland warrants at 52s Cd. Locally the
market was steady in tone and without
further change. No l northern foundry,
Is. 1903 30; No. 2 northern foundry, 5000
1885; No. l southern, 18.50q18.75; No.
foundry southern, II. 75GJ1S %.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Mininu Notes.

W. V. Rice, the well known mining OPP
orator. has returned from several
weeks eastern business trip.
Fifteen carloads of ore from Tintic and
three from Bingham were released from
the Taylor & BruntOn sampler yesterday
morning.
superintendent ]. A. Ingols of the Ma
jestic company's Beaver county prop
critics. is up from the south on a short
business trip.
Two cars of ore from Bingham. two
from Alta, one from Tintic and one
from Nevada were reported at the Pho
neer sampler yesterday.
Samuel Mcintyre, president of the
Mammoth Mining company left for Ne
vada Thursday night. He will return for
the annual meeting on Tuesday next
Manager S. Nj. Levy of the Annie Lau-
RE came up from camp Thursday night.
He says the cOmpany's big mill will be
in commission again about Monday or
Tuesday.
Manager Nicholas Schmidroth of the
Consolidated Jefferson was advised by
telephone yesterday that six-foot ledge
of gold-copper rock had been cut in the
tunnel. He will go to the mine today TO
investigate.
L. n. Outzen. manager of the Annie
Laurie Extension companyS Gold Noun
tain property, is up from his home at
work is steadily progressing, but that he
has nothing of a sensational nature to re-
port as yet.
United States Mining company share
that a dividend of 81 a share on $780, 600
outstanding shares in the company had
been placed to the credit of the stock.
This is the dividend which the company
ordered paid in December.
H. 7. Sappington, superintendent of the
Cyclone cOmpany's Stockton mines, was
in from camp yesterday. He stated that
the mine was improving all the time and
I'll. -
raised for shipment Another carload had
been billed out from camp when he left
and should be in the market Monday.
President and General Manager Sey-
mour W. Tulloch Of the Sewer ConsOli-
dated company is in the city after a
ing east for the holidays. He is proud
of the companys new milling and power
plants and promises that when the work
of ore reduction begins and the new plant
settles down to business splendid earn
ings will result
The De Lamar Copper Refining COM
pany, which. is controlled by the United
States Smelling, Refining & Mining com
pany, is building a 24,000-ton capacity lead
smelter at east Chicago, Ills. The COM
pletion of this plant viii materially
strengthen the United States company's
position in the lead field in competition
with the American Smelling & Refining
company.
Through an arrangement that has Just
gone into effect the Rand Drill and IN
gersoll Drill companies have combined
the Utah Mining Machinery & Supply
company, of which J. E. Gallagher is
manager. w. A. Lieblien of the local
Rand Drill company offices, will now go
with the change and make his headquar-
tiers with the Utah company, as will also
S. @. Murray, the general western rep
resentative Of the Ingerson- Rand com
pany.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Money. Silver. Etc.

New York, Feb Close: Prime mer-
camille paper, 424@515 per cent.
Sterling exchange steady with actual
business in bankers bills at 4.S72504. S73l
Tor demand and at 4-S3S5G4. $3.50 for sixty
day bills. Posted rates, 4.S412 and ass.
Commercial bills, 1881.
Bar silver, 6515.
Mexican dollars, 5012.
Government bonds steady; railroad
bonds irregular.
Money on call steady; highest, ~; low
est, 312; ruling rate, 324; Vast loan. 4; clos
ing bid, go; offered at Upper cent.
Time loans steady; sixty and ninety
days and six months, AZ per cent.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Coffee and Sugar.

New York, Feb. 2-Coffee-Spot Rio,
steady; mild, steady. The market for cof-
fee futures closed unchanged to 10 points
higher. sales were reported of III, 900
bags, including February, 6.95; March 100;
May, 715: July. 7.S5: September, 1901. 80;
October 7.S5; December, 17597-S0; Janu-
ary $50 The worlds visible supply OF
coffee on Feb. was 1881, 631 bags, a de
crease for the month of 1864 bags. The
visible supply Feb. 1 last year was 49,
621, III bags
Sugar-Raw. nominal: fair refining, 8;
centrifugal, 96-test, 15-32: molasses su-
gar, "a; refined, steady
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Mines and Mining Stocks

gamated There is reason to believe that
there is significance in this fact. Future
market prices for these stocks named Dy
the people who control the movement IN
both are $50 for Amalgamated and 100 Tor
titled with United Copper tell the holders
of the preferred stock not TO sell it below
ia; it is retirable by the company at Ia
There is only $5.0O0,0O0 Of this. stock out
STANDING. and Should present plans be
contaminated there will be about $2O,OOO, O0O
in cash and securities in the treasury De-
fore II1lV I next 7"
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
GET DEEDS TO GROUND.
Pittsburg Consolidated Secures Title
to Several Claims.

Provo. Feb "A mining deed from r.
/. Darling and others Of Salt Lake City
10 Edgar S. Darling for the War Eagle,
Little Rock, Little Rock No. and the
Pittsburg Nos. = 3 and mining claims
in American Fork canyon, has been filed
with the county recorder; considera-
ticn, 81.
Edgar s Darling has transferred the
above named claims TO the Pittsburg Con-
solidated Mining & Milling company; con-
gjderation s.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
COAISTOCK.
Ore and Bullion.

Ore and bullion settlements in this city
yesterday. as reported by Mccormick &
Co, amounted to S62,500. as follows: Sill
yer, lead gold, and copper ores, $21, 300;
base bullion, 81 200.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Financial and Commercial
ton market. with range and closing

Boston market. with range and closing
quotattOnS:
Boston, Feb Am the interest today
was confined to Amalgamated and United
Copper, fluctuations of both stocks being
opportunities to trade. All the lake cop
pers were very dull and with a slight ten
dency towards reactions. Osceola was
the only exception, advancing points, 80
103. Quotations:
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
TO OPERATE IN EASTERN UTAH
Uinta independence Mining Com.
panY INCORPORATES.

A copy of the articles of Incorporation
OF the Ulnca Independence Mining COM
operate in Utah. was filed in the office
of the secretary of state yesterday. The
company has a capital stock of $4,000 in
worcestershire shares of 4 par value of
81 each Samuel s. Stewart is president
and w. J. Jackson is secretary. Ernest
H. Wilson Of Vernal is designated as
agent for Utah
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Treasury Statement.

Washington, Feb. 2.-Today's statement
of the treasury balances in the general
fund exclusive of the S150000,000 gold re-
serve, shows: Available cash balance,
$144, 431, 917; gold coin and bullion, S4, 80
264; gold Certificates. So. III so.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Pacific Coast Grain.

San Francisco, Feb. 2-Wheat-Steady;
Nav, 1341k asked; December, 12SZ
Barley-Steady; May, 1.201z bid; Decem-
ber 50 bid.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Butter and Eggs.

New York, Feb. 2.-Butter-Steady;
street prices, extra creamery, 26Q265a; Of
fetal prices unchanged.
seconds. 16Q17
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
San francisco Mining Stocks.
Utah Stocks In Boston.

James A. Pollock & Co, bankers and
brokers. yesterday received over their
private wire from Paine, Weber & Co.
one of their Boston correspondents, the
recoId Of sales Of Utah stocks on the
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Tonopah-eoIdfieId Stocks.

James A Pollock & Co. furnish the
following as the closing quotations on
the San Francisco exchange yesterday
over their private wire:
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
"something Up" in United Copper.

The Boston News Bureau of yesterday
IS quoted over the Pollock wires as fox
lows:
'"The price Of United Copper (common)
today is exactly tWo-thirds that of Anal
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
NEVADA STOCKS.
Forenoon Sales.

Ajax, 5O626c
Carisa, 200623c
Daly-Judge, 4OOdS1O.8 IS; 1OOdS10. ST.; 1OOa
$3.50; 1OOd$1O.75, seller 50; 5GdS10.75.
May Day, 4,000d15Ac; 5O0Gfj 515c, seller
80; 200Ql57sc, seller 60; 1,OO0Q15lc, seller
60
New York, 1,5OOaaO14c; 1.00OQ2OAc, buyer
Tetro. 1,100911c; 25OOan14c.
Open Board.
Ajax, 1,O0002612c
Beck Tunnel, 3G0d4S1kc.
Columbus Con, 5@$4.571z; 10c@s4 66lz; 100
Golden Crown. 500GS7c.
May Day, 5O0015xc
New York, 5OoQ0O14c; 1,OO0q3OAc, buyer
Shares sold, 1855
Selling value, So, 4S3. s.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
RESULTS WERE
SATISFACTORY
Trade Remarkably Good During the
Past Month in Spite of the
Mild Weather.
SPRING BUSINESS BEGINS
PRICES OF STAPLES A TRIFLE
LOWER.

New York, Feb. 2.-Duns Weekly Re
view of Trade tomorrow will say:
Complaints have been numerous regard
ing the mild weather, January having
closed without bringing normal winter
temperature in many sections of the
country. Yet results for the month were
most satisfactory on the whole and pre-
parations for the future continue with
undiminished confidence.
Failure statistics in January made a IA
vorable comparison with last years fig
ures, railway earnings were 14-3 per cent
larger and if the general results in Janu-
airy are maintained during 1905 Will be
another record breaker in the mercantile
world. Foreign commerce at this point
for the last week showed a small loss OF
$685. 27 in exports and decrease OF S3SS, 0Go
in imports as compared with 1905, which
is unimportant, considering recent gains.
Another moderate decline is noted in
the average of quotations for domesuc
hides country varieties providing the
weakness this time, while packer hides
have steadied at the position to which
they fell last week, after very large
transactions Receipts of foreign dry
hides are limited, which MAINTAINS
prices.
Failures in the United States this week
numbered 26S against 259 last year and q
in Canada against 80 last year
Bradstreet's Report.
Bradstreet's tomorrow will say: There
is more snap to spring trade this week.
jobbers and manufacturers particularly
at the west and south noting more inquiry
for dry goods, clothing. shoes and SINH
lar lines. The winter wheat crop does
not show any effects of lack of snow
covering throughout the most of the
winter.
Raw wool is also firmer, though quot
ably unchanged. Shearing has begun in
Arizona and full prices are being paid
Prices of a number of staples are easy
or lower this week Buff hides are weak,
but packer hides are strong.
Wheat including flour, exports from
the United States and Canada for the
week ending Feb -. are 3.056208 bushels,
against 3, ABS, 5S5 last week and 945,35S this
week last year, 2,604, 226 in 1904 and ,916
in 1903. From July 1 to date the exports
are So 727, AT bushels, against 40,602, 400 last
year and 101, 351, 344 in 1904 and 50,95I, 53S
in 1903
Corn exports for the week are S,289, 1853
bushels against ). 633, 265 last week. 5.S02, SOB
a year ago, 1,411, 1856 in 1904 and 2, 0,Sl6 in
1903. From July 1 to date the exports OF
corn are 6S. 42S O49 bushels against go f43, 664
in 1905, 49, 881,5S8 in 1904 and 2, 1923 bush
els in 1903
Business failures in the United States
for the week ending Feb. I number 228
against 276 last week. 239 in the like week
of 1905. ZIG in 1904, 20S in 1903, and 2OS in
1902. In Canada failures for the week
were a against SO last week and so in
this week q year ago
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
CALIFORNIA EXCURSION.

S23. 90 Los Angeles and return. Elks'
special leaves midnight, Feb. 10th
See secretary B. P. 0. E, No. IS, Salt
Lake.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Metal Nj arket.

Silver, 651zc per ounce.
Copper (casting), 175sc per pound.
Lead. in ore, $3.50; New York, $3.50 per
100 mounds
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
CANADA.

mot included in totals because con-
tanning other items than clearings.
*sBalances paid in cash.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
! GO ANYWHERE

To photograph anything. Harry Ship
Ter, Commercial Photographer, Isl So.
Main Phones: Bell. 2825-K: Ind IVA
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-03
Open Board.
Afternoon Sales.

Ajax, 5O0927c
Daly-Judge, 4000S10 so
Grand Central, 2OO6s33O
Lower Mammoth, 5O0635c; 5O0695iLc
Beck Tunnel Con-, 1OO049c; IOOG491Lc: 100
Q49azc; 29O0Q50c: 100G5O11c
New York, 5O0q19c, seller 60; 506191kc; 50