The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-12-04
vile, will add materially TO this in
terurban electric mileage.

! Local mining circles wcro chiefly
concerned during the past week with
the action of the Utah Consolidated
company's stock in the East. After
the payment throughout its useful ca
rcer of S23 per share in dividends,
this company has reached the point
whore much greater campaign of deep
development work than ever before
must be done before the mine is re-
stored to its strong position among
copper producers. The wide difference
between tho tonnage estimates of Engi-
neers Finch and Charming. there being
n difference Of about 100000 tons in
their reports, has proved surprise and
disappointment to Utah.
News from the mines was limited last
within the control of general indus
trial conditions. That it has been n
week Of very sensitive market trend
was illustrated early, when the pessl-
mistic interview of James J. Hill was
published in Chicago. Stocks fell many
JULIUS, dNu lHt recovery was nVI nu
pronounced when Mr.. Hill issued de.
NAL of the views attributed to him.
The unsettled conditions both Mt home
and abroad, especially in England, have
contributed their share toward crowd
ing the public out of the market. The
Eastern markets arc now pronounced
oversold, and while no sharp advance
seems logical, yet this ovcrsold condi.
tion serves to make the bears moro
cautious
There has been almost a complete NIB
sence of metal news, but with the eN-
ception Of silver, the metals have eth
or remained firm or. as WAS the case
of lead especially, hardened In price.
This being the last month Of the year.
considerable money is being expended
in doing the necessary assessment work
on unpatented mining claims, and many
groups are being given their initial
development for quite time.
The local stock market as a rule
has been quiet. few features respond
ing to improved mine conditions. The
majority Of the local issues are held
al very low valuation. aud on suffi-
cicnt provocation easily can make good
profits for those who can afford TO buy
outright and hold stocks.
In the country at large, the CONNER
cial agencies report business not up to
expectations, but still of fair proper
tion. and resting on a basis of economic
conditions which in the main are sat
isfactory. Large shipments of dry
goods for spring distribution are re-
ported. with prices generally steady,
yet with prospect Of higher prices
because of higher raw material.
The holiday trade opens well, being
stimulated by good crops, both of corn
and cotton. Jobbing trade III holiday
goods is generally reported strong.
Tic iron and steel production and
demand arc both quiet one half Of the
country S capacity being out Of CON.
mission; still there is no indication of
lower prices.
There is an abundance OF money in
the country. hut this is not put at the
service Of Spectators or of Wall street,
still less is it available for bolstering
up any stocks. Efforts TO pool and
thus hold stocks firm fail. The latest
is lust reported AS broken, with dis
aster TO the market. Wall street is
consequently pessimistic aud the gen
eral business Of the week is hardly up
to conservative expectation