Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-09-08
Reaches Highest Mark That Has
Been Seen Since Memorable
Days Of 1898.
LOOKS MIGHTY GOOD FOR UTAH
Salt Lake Smelling Companies
Announce Price Of 681s
Cents Per Ounce.
News win be Hailed With Delight MI
over the Western Country
What the Facts Are.

Silver reached the highest point to-
day since the beginning OF the last
administration Of Grover Cleveland -
president Of the United States ore buy
ers quote ssit cents and settlements are
being made on that basis
The fact that the producer Of the
white metal has not been able to OBJ
tain this price for bic product for
a period Of about 10 years, the an
nouncement is OF more than ordinary
consequence II was the talk OF min
ing circles today and naturally every
where It was received with profound
satisfaction and many expressed
the opinion that II the metal holds
NJ anywhere near present prices It
viii surely result in the re-opening Of
many Of the old purely silver mines
scattered about the western camps.
MANY OLD SILVER CAMPS.
Utah has several camps Of this kind.
50 has Nevada. notable among the lat
ter being Austin. which one time con-
tanned a population OF nearly 10000 In
Utah might be mentioned Silver Reef.
Dry Canyon and Ophir
BRIGHT OUTLOOK.
T r. Jones. manager Of the ore
purchasing department Of the United
States Smelling. Refining & Mining
company. who by the way. is the vet
eran ore buyer Of this region. and
probably the best posted man on
metal markets In the west was among
the number who expressed much satis-
faction over the advance noted in sill
Yer and looks forward TO a wonderful
era OF prosperity for Utah and Salt
Lake City in particular
Take II all around, said Mr. Jones.
the producer fares pretty we'll Lead
and copper never commanded such
high prices as are quoted today and
with silver going Up, too. it seems to me
that the mining regions ought TO pros
per Salt Lake. which has become one
OF the great II not the greatest smelt-
Ing center in the world will naturally
benefit by this"
SALT LAKE A BIG CITY.
Another prominent mining man de-
clared that he thought Salt Lake would
even grow into a greater city than San
Francisco. that more money would be
eventually handled through the Salt
Lake clearing house than the
one IN the coast city because
OF the steadily Increasing stream
Of ore coming TO the salt Lake smelters
to be converted or rather exchanged
FOR money
CAUSE or THE RISE.
An authority accounts for the rise ia
silver IN several ways The fact tina;
the United States government is again
buying and Is taking 10000 ounces per
month is given as one reason. This
silver Is for subsidiary coin, the minis
Of the country having exhausted the
silver button accumulated prior to
1908. The French government has been
calling for more silver for the same
purposes. bu, the main factor in the
market is probably due 10 the demand
for II In the east. chiefly from India.
INTERESTING FIGURES.
In this connection, 1t is interesting
10 know that the exports for the first
half OF the present year from London
10 India were. approximately, 72.l00.-
600 ounces. or more than double the
shipments Of 1908. China has been
moderate buyer taking for the first
half Of this year. 1,s2l.O0e OF. from
London and 800 900 % from san Fran
cisco. Il is known. however. that
China has taken a great deal from
Australia. japan appeared In the sill
yer market. after several years alb
sence. taking 2e50 600 on from san
Francisco: il is understood that this
l. FOR use In Korea and aanchuria
chiefly. The known shipments TO the
east without allowing anything for
those from Australia were 7sgsO,0oo
o. for the FIRST half ~ this year. and
appear likely 10 b. still greater for