The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-11-07
NEWS OF THE HINES.

all surprised TO see spelter sell at $3.50
a hundred pounds. for the reason that
! do not believe there is 30 days
supply of zinc ore on hand in the
United States at the present tine"
G. Weaver LOPEZ. formerly OF New
York and now a resident of Spokane
and vice president and managing di-
rector of the Lucky Jim Zinc Mines.
Limited. operating in southeastern
British Columbia. said this in Spokane
during a stay of few days on the
way from Denver to Kaslo. b. C. In
regard to the remarkable conditions
now existing In the zinc industry and
the extraordinary advances in spelter,
ne said:
"All settlements made on shipments
OF zinc ore are in a general way ad-
Unstable on day of arrival at smelter.
based upon the current quotation at
ST. LOFTS. In March Of this year. at
which time our mines We're purchased
by the present corporation. spelter
was quoted at $500 hundred pounds,
St Louis. In the interim the Payne
bill became effective August ) and iu.-
posed n duty on zinc ores Of ] cent
pound. since which time the advance
in spelter has more than absorbed the
duty. owing to the fact that current
quotations indicated they were bidding
AT st Louis ss15 a hundred pounds.
There Is nothing extraordinary in
this fact. as II is merely occasionea
by the laws of supply and dema nd. and
/ shall not he al all surprised to see
speiter within the next 30 DAYS sell
ut $50 a hundred mounds. After
careful Investigation I am prepared to
saw I do not believe there is. at the
present time. a0-Gay supply of ore
on hand within the boundaries of the
United states.
.Reports indicate that both France
and Switzerland have enacted laws
prohibiting the use of lead pigments
for interior decorations within their
boundaries. solely for sanitary pur-
noses. in consequence Of which the
industry naturally turns To zinc pig
ments. There is no doubt whatever
that this action will be followed by all
ether foreign governments: likewise
nv the Canadian provinces and the
United states.
London quotations indicate an ad
vance in spelter beyond what was an
ticipated. and their parallel shortages
of zinc ore seem to indicate that II
will be impossible for the United
States to look in that direction for
anv additional supplies.
IN addition. the celebrated Broken
Hin (Austrlia) mines. from which
large sources of supplies have been
reports are the output Is
on the decline. owing to the fact that ,
reports ention they have not In sight
their previous estimated bodies of ore.
Il have every reason to believe that
the future demand will xceed the sup /
ply. the result regarding which ! am
unable to prognosticate. | can. how
ever. state that in the history of min
Ing there has never been an occasion
which the mining end can
so absolutely dictate its own terms to
the smelters. in view of which ! can
predict that zinc mining
win become most important.
In regard to zinc ore and the re-
cent tariff imposed thereon. we have
A most remarkable example that no
legislation can overcome the laws or
supply and den.and. as in all other
cases the consumer pays the bill. as
best set forth by an advance in speiter.
which more than compensates for the
present existing duty.
That present prices are stable Is
best borne out by the fact that our
can enter into three
years contract. We are rapidly max
ing preparations To double our ship
ments, and we expect that by Novem-
Der | our new tunnel will erosscut the
bottom Of our big winze, in conse~
nuence of which we shall, in addition
to our present shipments, stope an
additional 100 tons of so per cent zinc
pre- a day. which under conservative
estimate should ne, this corporation a
profit OF $4,000 day. As result
am in hopes we can declare per
cent dividend January l. 1910.
Taking into consideration that we
began operations April of this year,
we have an unparalleled record. having
more green or shipping
ore than the combined mines of Brit
ish Columbia"
NJ. ]. Sweeney, an officer of the
Mines Company, Ltd. operating the
mine in the Buftato
Hump district in central Idaho. an
nounced In Spokane that the property
viii be a big and regular producer
within co days. when its 70 stamp mill
will be ready To handle 60 tons oi
gold bearing ore. Besides the group 7
II claims known as the crackerJack .
mine. with its hydro-electric power
plant, the company has secured con-
troll, under 50-year lease, III IN
acres of patented ground adjoining .
il and il has under construction .
! ,O00-foot aerial tramwas from the .
mine to the mill. There is also n full .
OF concentrating ma
The property is developed I"
a depth of 30 feet, the underground
workings aggregating 3.0oo feet. The
ledge exposed averages 20 feet IN
width. varying from four To 60 feet. .
and the average value ri the ere, ac- .
cording to the owners. is about so