The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-29
UTAH Mines RECORD
PRAISED IN THE EAST
Wall Street Summary Speaks
Highly of Great Industry
of State.

In giving discussions Of the great
mining districts of the United States,
the Wall Street Summary reached the
state of Utah on the 23rd Of this month,
Utah came fourth in the list Of the
great mining states of the Union. and
what the Summary has to say relative
to our mines and their achievements
VIII be OF interest wherever investors
hold Utah stocks. The article in full
follows:
Two executive Officers of the Wall
Street Summary, who have Just returned
from n long tour of the principal mining
regions of the West and Southwest, note
the remarkably good condition of the
mineral industries Of Utah. The fin.
ancial and commercial setback that was
so marked In its effects in the East,
did not produce anything more than
slight Jolt 10 few industries in Utah,
None OF the important contracts for the
development of Utah s mines and irri-
cation projects was hindered. The tenn
porary dullness has passed away, and so
far as the mineral industry is concerned
Utah is going ahead.
duction for this year is S10,000,000.
Copper heads the table Of values, gold
is second. with lead in the third place.
This state s increase in gold production
for the current year is notable, and is
due, in considerable part. to sound de-
velopment work; the installation of inn
proved mine machinery and the high
degree OF gold extraction incident to
the adoption of the most advanced pro-
cesScs.
AS in Il number Of other mining re
gons, a number of the gold mines of
Utah arc close corporations or arc CON
trolled by small syndicates of domestic
and foreign capitalists who will not
give any information upon the produc-
tion of their mines. At best, an esti-
mate as to the gold production of Utah
is a cropping in the dark. The president
of one of the largest smelling combina-
tions in Utah, who is the principal owner
of two gold mines in that state, says
that Utah s gold yield for this year will
be not less than 615, 100000. The presi.
dent of an express company that car
ries great deal of bullion out Of that
state, gives it as his opinion that the
gold outturn will not 90 above SI0,-
100000 for the current year.
In copper and lead production Utah
is, making great strides. These indus
tries are directed by superior men who
are important shareholders in indus
tries that are among the greater factors
In base metal consumption. This con-
dition assures the Utah mines under this
Oh charging IndTheLS IlldC 90
hand in hand with the increasing mine
production,
Utah has S4,92S square miles of terri.
tory; the population is $50, 900, which
gives three human units TO each square
mile of land. Engineering works for
the mining, agricultural and transporta-
Jion interests Of Utah, now in process
of construction, call for the expenditure
of a sum of money equivalent to the
value of her mineral production for one
year. a number OF richly mineralized
parts of Utah cannot be brought into
condition as yielders of profits until
certain irrigation, hydro-electric power,
and railroad building enterprises, long
ago planned, shall have been carried
out.
Few states in which mining is an i'm
portant interest have done so well in
recent years in financing sound mines
with money subscribed by citizens of
the state. This fact is of great value
TO the brokers of the East who handle
approved Utah mining stocks, More
stocks gain confidence IN mining en-
terprises that enjoy the faith Of people
who live near the mines. Brokers in
Utah mining shares say that the divi-
lends from her mines for 1908 will be
close TO $6,000,000 This does not in
,lude the dividends from between thirty
and forty mines owned by close cor
oorations or by small syndicates of rich
men who do not put their stocks on the
market