The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1908-05-28
MINES AND MINING

N~iPahy III June VIII eitner cut down |
or do away with the dividend on the
common stock on account of small
profits.
from Boston comes the report that
the Utah Copper company is now max.
ing copper at the rate of $3.50. 900
pounds per month at a cost of s1s
cents per pound, after deductlng the
expense from the mine to the market.
OIL is advancing all the time, ana
one In a position to know declares
that the demand this year is going to
be 100000 barrels in excess of the
supply, unless some extensive new
helds are discovered and developed.
An air compressor Is now busy at
the Hub mine near Milford, while de-
velopment work is being vigorously
prosecuted. There Is now over eighty
tons of ore on the dump at the Hub
which is valued at between 500 and
5000 per ton.
The activity for the current season
with the Lost Packer Mining com.
pany of Idaho has already commenced.
during the season of 1907 the Lost
Packer company cleared total of
100000 from not over thirty DAYS
run of its new smelter.
Since the unwatering of the Ontario
drain tunnel there has been an un.
usual demand for the stock of that
celebrated Park City property, but It
seems that there is little stock to be
found In the open market, the holders
evidently looking for better results in
the way of production than In the
past.
Work is progressing rapidly in
cleaning out the caved portion CT the
drift between Nos. 2 and shafts on
the 1,500-foot level of the Ontario at
Park City, and it will be only short
time until the draining of the mine Is
complete and work resumed in the
ground that has been flooded for SO
long.
The annual report of the Anaconda
Copper Mining company for the year
1907, submitted to the stockholders
meeting at Anaconda, Mont, last
week, shows that, owing to the re-
striction of the output and the close
down of the mine, the profits were
less than the year before, being 49,.
37S,220
Samuel Newhouse, who recently
made trip of inspection to his prop
critics / nthe Phoebe district, declares
he never had the least conception as
to the value of the properties he had
acquired upon the recommendation of
otkers until this visit. and that he
was simply bewildered with what he
had seen.
The camp of Gold Circle, Nevada, is
unique for Nevada region by virtue
of the presence of an abundance OF
water for mining and milling pur
poses Usually the lack Of water is
one of the most serious obstacles to
overcome in putting Nevada camp
, on its feet so that it may become a
. dividend payer.
A new smelling combination was or
ganized last week for the purpose Of
operating in the Utah field. The new
, company, which will be known as the
Independent Smelling company, II!
backed by Utah capital, and has SO
cured a lease on the plant at Ogden
which has already proven to be 6
great success.
Fluerine is a new section, about
fourteen miles from Rhyolite, on the
east side of the Bare mountain range
and almost directly south of Beatty.
y. This particular section has been
l known as a mineralized country for
= about three years, but it is only re-
Gently that there has been any excite.
: ment over the discovery.
e. Chopin Gard, a mining promoter
with offices in Denver, has been in
dicted by the federal grand jury on
. the charge of using the mails In fur
+ therance of schemes to. defraud He
Is alleged to have sent out allurine
literature about properties in south
T sxn Utah, which government inspec
: tors claim did not justify his advertis
ing claims.
a Excitement over the oil fields dis
y covered near Bluff City, Utah, contin
l. ues to run high in that section of the
8 country. Latest news from the scene
o of operations tells of a gusher just
Q discovered, the output of which is es
timated at between 600 and 700 bar
l. rels day
, California oil men are beginning II
i. investigate the Virgin oil field, a mum
g Der of prospective investors having
,. recently made a visit to the distric
l. and are now looking into the matter
y Of transportation in case big wells arr
discovered. The Virgin district Is OF
n the eve Of boom.
: The property of the Cliff Mining
# company at Ophir is showing up in
n most encouraging manner. The aver
:, age width of the vein is said to b'
(. twenty-five feet of ore of shipping
g grade several cars of which are to b'
forwarded to the valley shelters dur
- ing the present week.
- The Nevada Douglas, at Yerington
tho bOl'