The Garland globe. [volume] (Garland, Utah) 1906-191?, 1907-11-02
MIN ES AND MINING

property Is In Beaver county, Utah,
has Just encountered four.foot vein
Of carbonate lead and silver ore. The
Hecla Is one of the steady shippers OF
ore from Beaver county.
The average price of spelter at New,
York during the ten years ending with
1906 was 5.03c. equivalent to about
4.sSc, st. Louis, but the general trend
has been upward. because OF the in
creasing cost of production.
so extensive has been the demand
and the drain for teams In the oil ex-
element center of southern Utah that
the Utah Indian Peak company can
not secure means of hauling It's lead
silver ores to the railroad tracks.
Eight men are at the old Cumber-
land property at Osceola, Nevada. and
they are taking out a fine quality of
gold ore. Plenty OF high.grade stun
has been placed on the dump to keep
the mill running for several months.
The mill will he kept working all win
ter.
The directors of the Calumet e
| Arizona will meet about the 10th OF
| November to declare the quartely div
| idend. II is believed that the quar-
| terly rate will be reduced to SO, but a
| great deal win depend upon the con-
| dition of the metal market during next
| month.
From Aura. Nevada. comes the
news of strike In region that has
been generally considered as barren
ground Prof. Grissyold Of the State
School of Mines of Missouri Is one of
the principal owners. The ledge Is
wide one and carries an average value
Of 81 In gold.
The lost ore shoot in the Sandstone
mine at Goldfeld, from which LOTUS
and Davis and A. II. Wayne took $780,
900 three years ago. Is believed to
have been recovered I'm lease on the
Lotus and Davis block by Webb Park
ison and Peter Erbel. Four feet Of
ore has been opened which runs from
SEQ a ton to $4,000.
The coke manufactured in Colorado
and Utah in 1906 amounted to 1885,
905 short tons. valued at $4.b04,74S,
against 1,37S,S24 tons, valued at a.,
| 1857, ia 1905. The increase In 1906
was, therefore, 77,0Sl tons. or Sc peH
cent in value. The average of price
per ton advanced from $302 in 1905
to 5000 in 1906.
The Sultana company. which owns
splendid lead-silver property about
fifteen miles southwest of Vernon. In
t,I. L.. th<x
| skirting the desert. has decided to be-
| gin operations in a systematic way
and make the mines what they ought
| to be, heavy producers Of fine lead
| ores.
While the metals are being sur
rounded by strange shadows. bringing
doubt and uncertainty to the minds OF
all, there is one class of mining that
is being pressed forward with unusual
vigor, and that Is the coal mining in
dustry. All of the western coal mines
are being worked to their full ca
pacity.
Daniel Guggenheim. president Of the
Guggenheim Exploration company.
says the present disturbances In the
financial district is due to a state OF
hysteria on the part OF the public
brought about by the activity Of bear
operators and resulting in the sacri-
ficing of securities at far below their
actual value. needlessly, thoughtlessly
and ignorantly.
John ID. Rockefeller has the follow
ing to say regarding the financial sit
uation: II think that the existing
alarm among investors is not war
ranted, and hope the good common
sense of the American people will con-
troll the situation. Personally ! have
absolute faith In the future OF the val
ues of our securities and the sound
ness of underlying conditions"
| American copper producers are dis
posing of some of their surplus pro-
duction through the London metal ex-
change, selling standard warrants In
that market against deliveries OF cleo
trolytic from America. The low price
thus far recorded in electrolytic Is
1873 to l2hc. the latter being the
price for most of the business last
week.
1t Is necessary to so back a great
many years to find a parallel for the
present extreme slump In the stock
market. Those who witnessed the
panic of 1873 state that It was not SO
prolonged or severe in the stock mar
ket as the present decline, although,
unlike this movement, It was accom-
panied by widespread commercial dis
aster. of which there is no evidence
now.
with a capital stock of 100000, di'
vided into shares of the value OF 10
cents each, the Jessco Gold Mining
company OF Ogden filed articles of in
corporation with the secretary of state
last week. The company owns Tour
mining claims in Thistleberry canyon,
Weber county,
The Utah Standard Oil company,
with capital of 100000 shares, the