The Coalville times. [volume] (Coalville, Utah) 1894-1923, 1907-11-08
MINES AND MINING

Tho oIl excitement az payette.
idaho. is undated. and the pros.
poc'ors expect confidently to End not
only oil but gas in paying quantities.
The treasury department on Octo.
Der gS purchased 100000 ounces OF
silver ~ GUgll cents per fine ounce
20 Doc delivered go Now Orleans and
100000 ounces On san Francisco
Edwin r. Ryan. who has achieved
remarkable results at GuanDauto.
Mexico. was graduated from the McN.
Jean College of Mines only seven
years ago. Tie has introduced tho
cyanide process in silver reduction.
The opinion Us growing among the
people. and mining men particularly
who have studied the ground that
the country surrounding Woiscr.
Idaho. ON the north. g. vast mineral
belt. recent discoveries STRENGTHENING
that belief
Notices posted about tho Calumet
and HDclu copper mine works un.
uouuCv "a reduction OF wages on De.
ccmber I OF 12ia per cent approx.
matcIy equal 10 the increase granted
early In the year. The reduction at.
locts $500 men.
Regardless Of the fact that the big
copper companies OF Ely Nevada.
have put into ofcct their policy OF
dlschlrgiug forpign luborcrs and max.
Ing this strictly an American camp,
there is q general shortage Of first
class labor In Ely
j. Robinson the Indiana and Ohio
OH field man. urges an Utah ANA
other operators la the Virgin field TO
whoop things up. as be- is certain that
the ywlll have strong and ready
market for every drop Of oil they can
produce without a wait.
The production Of gold In the United
states during 1906 was i,jG5.33O fine
ounces. OF a value OF S9i,373,hOo; the
silver production amounted 20 5G.5lt.
900 fine ounces. Of % commercial value
or s3S.256 400 Tho production oil
those metals for the preceding year
WIS SSS.1HU.7OU gold and s3i22l,9.
silver.
That the usual dividends of tho
May Day and Uncle sam Consolidated
companies win ho posted This month
was the positive assertion uI tho man.
agomcnt OF both corporations FAST
week Both uroIoriip, are shipping
regularly and both nave troaaulu
that can meet the payments without
feeling 70 at all
Tho mines ana leases Of Gollnall
have added slO.OOOOOu In sold 10 tho
wealth OF the world during the year
ending October /. and have paid In
profits and dividends. SL2Sl.ooO. Tho
| production includes the richest single
carload Of orc ever shipped from n
mine. This shipment brought ON the
market s5Si2iG11.
Tho shelters OF the Salt Lake val
| ley hereafter will be forced TO do an
their own switching II the order pro-
mulgatcd last week by the railroad
companies should stand. Thc com
panics are Of the opinion that when
! they have delivered the cars into tho
shelter yards, they have done an that
could be demanded from them.
Secretary TAFT rode 10 the Ameri'
can mine. east Of Bagulo, r. l., one
day last week. over PERCEPTIONS
mountain TRAN which drops 5000 feet
within a distance Of four miles, lie
Inspected the Clarke mine and mill
and the Iaifan mill. Addressing the
American miners, Dc said he hoped "a
secure needrul reforms In the mining
laws.
Tho directors Of the United States
Steel corporation last week declared
tho regular quarterly dividends Of "a
per cent on the preferred stock and
unc.half OF / per cont on the com
mon The earnings for the tire,
months ended September 30 were
Si3.3Oi, 2Sb. an Increase OF 5000 GGl
as compared with the same quarter
last year
The news comes from Canlnca
Mexico that the Greone-Cananol
Copper company has determined upor
a complete shutdown Of It's mines
concentrator ana smcltor at Cananca
This action will mean the clusln'
down Of an but one or two others o
the fourteen operating properties Ii
that district over 5000 men will b.
thrown out OF employment
II is considered likely that In view
OF the present adverse money marie
conditions that reduction may b'
made in the next quarterly dividend
of Butte Coalition. although tho CON
pIuy has enough money In its treas
ury to make the payment Recon
buying OF the stock has been To
strong account and the books sno,
: tho shares moro w.dOlE scIu.rg
Z than ever before,
Tho report that the Nevada C0nsol
; dated copper mine has closed down 0
officially denied n Is stlll I'm ull oI
| Grafton, The development work, how
{ over. has been so far advanced, II D
e. stated officially, that there is nos
950OO.O0O tons OF ore 30 sight read
90 bee mined. The shaft Us complete
q and the mine is ready 10 ship ore .
its concentrating plant as soon MS Oh
, plants are ready
4 Fitty men are employed at the Lin
coin mine at Pearl. Idaho, and shiI
muuts OF concentrates TO salt LAX
D., shelters are constantly being mad,
None Of the ore IS treated al the min