davidaulloa/AmericanStories huggingface dataset:
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
FOREIGN NEWS is
FELT BY MARKETS

James A. Pollock & Co, bankers and
brokers. furnish the following, receive
over their private wire yesterday after
noon;
Logan & Bryan, New York.-The stock
market was under heavy pressure
throughout the days session. owing to
the agsressivencss on the part OF pro-
fessional element. The news from
abroad relative to the affair between
France and Italy was disturbing and in
dicated that relations at the present time
We're rather strained, This was reflected
by liquidation for both domestic and
foreign account, which, accompanied by
the selling referred 10 above and the un-
covering OF stop orders, did much towards
producing extreme unsettlcment.
The coa1ers, which recently We're quite
conspicuous for their strength. were sub
Jected to selling by interests which here
tofore We're quite active on the buying
side, so In the absence of aggressive
fuence OF the coalcrs, the list receded
quite easily. We have been directing at
tention TO the situation abroad for quite
some time, owing to the fact that unset
uemont or concern in that quarter Is
invariably reflected by liquidation OF
the digestive powers OF our market.
This. In measure, is the case at
present and, of course, the we'll organized
element operating on the selling side
has had much TO do with causing the i'm
mediate trend OF market
For investment purposes it would seem
that tho standard Issues can De p,ir-
chased during weak periods such as were
witnessed today, that is. to have and
hold. but for general trading purposes IL
would seem that commitments on the
buying side should he properly safe
guarded and moderate turns accepted un-
I'll both international and domestic poll
tics show a disposition to clear.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
TWENTY-ONE TEAMS
HAULING ORE DOWN
Utah Mines Coalition Now for
First Time Ready for
Production.

On Monday the Utah Mines Coalition
company will have twenty one teams en-"
pioyed in the comfortable task OF bring"
ing ore down TO tho valley smcltcrs, and
these teams arc expected to maintain
the process OF marketing rich rock now
without interruption. That the company
is in a position TO keep its output at the
maximum is evident from the statement
made Saturday hy General Manager
Strickland, who stated to The Tribune
that the rnanagement really is now able
to mine ore for the market for the hrst
time.
There has been an enormous amount ol
DEVELOPMENT work necessary In the prop
erty before all the slopes were in shape
for heavy production. and the company
has had 10 keep nearly all Its force a'
work preparing the underground work
ipes for thc accommodation OF the ma
Chnery, Offices, bunk and boardlnS
houses All this work Is we'll rounded
out. and the forty-three men employed.
or as many as possible, can be directed
to breaking down ore.
Developments at the property arc very
satisfactory, states Mr.. Strickland. Tho
Wine driven from the 500 or tunnel leNci
is so feet In depth at this time, being
In fine orc and having been IN ore meas
uring from twelve TO eighteen inches OIL
the way. tho orc shipping down 900 per
ton net Conditions in the wlrZe point
TO n big strike at any time, Mr. Strlck- :
land expecting this orc to broaden OUT
into "a big body at almost any shirt,
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
HOW BOSTON VIEWS
THE COPPER MARKET

James A, Pollock & Co, bankers and
brokers' furnish the following, received
over their private wire yesterday after
noon
Paine, Webber & Co, Boston.-Local
market opened with considerable strength
and activity. the trading, however being
largely confined to specialties. Mayfiow-
er and Old Colony, Indiana and Victoria
Franklin and 5. & Boston. all scored
sharp advances, with what looked like
good buying In the closing hour prices
ran off very sharply in New York and
The demand for the local coppers quickly
disappeared. The standard coppers. such
AS Range, Quincy, Lake and c. e. A.
all sagEed fTactionaliy
Hornblower & Weeks. Boston.-Of
course. we may get some setbacks In
sympathy with New York should that
market sell lower, but no break is antici-
pated and II Is believed u good oppor-
tunity TO buy stocks may be close at
hand.
Hayden. Stone & Co, Boston. The
principal activity has been centered in
the low priced coppers. Volume OF trad :
ing not large. The rails and iudustrials
are quiet and neglected.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
MANY BIG FACTORS
IN COPPER OUTLOOK
Advance in Metal Price Was
Natural Result of Favor
able Items.

The Wall Street Journal says that the
factors that exert the most influence In
maintaining the comparatively high price
OF copper in the face Of tho lack OF buy
ing. may be summed up as followst
/. Stocks In The United states of about
three-four,hs Of a months United States
two months OF United States production.
?. Sold up condition OF all the large
copper agencies.
8. Failure OF new production TO ma
terielize.
!. Activity in steel lines, promising
continued use OF copper on as large or
larger scale than during last year.
There is. az course. the diverse side
TO the situation. In some quarters 1t Is
held That the inexplicable falling off in
refinery output during the last half OF
1911 means that the copper was DAMNED
up" AT the reineries and that this metal
viii have TO come on the market sooner
or later. To this prominent seller and
reiiner propoundS the question. is IL
reasonable TO suppose that any refinery
would be foolish enough 20 hold back the
metal with copper selling at l.b cents a
pound? With the constantly increasing
production OF the ''porphyry' mines.
whose output Is commencing TO come on
the market for the first time. gain In
the present rate Of oUtturn Is inevitable
and 1t is figured that the first hall OF the
current Year VIII $40" q ronsi0 cradle In =
crease over the present rate.
In addition there is an increase from
established properties which Will have TO
be taken into consideration. Amalga :
mated, Utah and Nevada Consolidated
have announced an increase In output
which will total between 5000. 900 and
5000, 900 pounds n month. 20 say nothing
of the increase of custom ore which al
ways comes when copper sells around
ID cents r pound
One prominent copper man figures that
between 30, 900. 900 and 20, 000, 900 more of
custom copper viii come on the market
With copper at II cents than when IL
sells at IL cents a pound.
Compared with o year ago. however,
the metal situation is more than loo, 000,-
oo0 pounds better oft, there being that
much less Of visible stocks The trade
II counting upon the normal increase IN
the worlds consumption in 1912 TO care
for the expected increase in production
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
Mines and Mning--Actvites in Ore Districts Of Utah
MERGER IS RUMOR
IN LAKE COUNTRY
Mayflower and Old Colony
May Come Under One
Official Roof.

?, NO. ro,or,ed across the wires Satur-
a., H., .,n,o SORT Of a consolidation Is
deemed 10 nc pending between 'ne MS
flower. and Old Colony companies OF th'
Lake section, Two copper issuca VIM"
have been striking features OF inc h''
ton exchange for a week or TWO hc'
has been a circular issued regarding .theS'
,wo nronositinns by f A. Schirmcr
COMPANY which is timely In we" oil '"S
above reports which here follow:
"'rhe recent discovery OF an ainysoa
Ioid lode on the Mayflower Mining com
pany's lands, a short DISTANCE iroIi wy
side lines OF the Old Colony Mining con-
pauy's property. has stimulated conslu- :
era bile buying Of the shares OF botn lncst
companies ON the Boston stock eNcnahse,
This so-called Mayfower lode Is ioS,a.Ta o., tI,s
further east than any known lode IN .ny
Lake Superior district and It's discovery
Is regarded as the most lmpor'an' Ee ne .
velopment in that conn'rT TTh,S whlSh indc wss Hss
discovery BY Mayflowcr'a No. 1e dri.i
hole ana the Grill core makes a. rcanE
remarkable showing OF c9nlmerein, rIn aa ed
at a depth OF 1911 feet 2s-root lode con
tanning excellent copper values. ana men
went through an even richer So-in"l lole
uud erlying the first lode by apploAI-
"rhc company is now sinking No u
drill hole some 500 feet furthc: east and
if the lode is encountered here. II VIII
practically prove up the MayGlower mine,
and by inference likewise the Old COL
onv company's territory, Furthermore,
from the presumed strike Of thH lode.
northeast and southwest, the Maytlo"er,
Old Cnlony and st. Louis mines all pos
scss large TERRITORY OF highly promising
ground
"Tt may he parenthetically remarked
that these three properties are contiguous
10 and adia cent TO tho Calumet & Hccla,
Osceola and Wolverine. Both the May
flower and Old Colony have recently
had assessments paid on their shares. so
that both companies; trca surlcs should he
wcn fortified with cash for further prose-
cution Of the diamond drill campaign. In
two weeks or thirty days, the results. from
the Mayflower No. II drill hole will DC
known and If the lode Is encountered In
No II. We arc almost certain TO Wit .
ness great speculation in Doth May
flower and Old Colony, and II is he
cause of these possibilities. that the pres
cnt steady absorption Of the shares OF
both companies is now In progress"
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
BECK TUNNEL DOES
GOOD RECENT WORK
Ore Followed Four Hundred
Feet From the Uncle Sam
Property.

In its review of the mine operations
in the Tintic district during the week
the Eureka Reporter SAYS tho incline
drift from the main tunnel level OF the
Beck Tunnel mas now followed the ore
for a distance OF about 400 feet and
there is stu a very good showing Of
ore in the face. although the values
are hardly as high AS they were n
short time ago. Still tho ore Is n rorv
good shipping product, and for the
purpose OF prospecting ii at greater
depth. and perhaps furnisninG a better
outlet for the ore, a drift has lust
been started from the 176-ioot levn,
cut tho ore body 100 feet deeper than
the point at which IT is now be-
ing handled. The north Drift from the
continued after cutting dssurc In
watch the ore idicatlons were none
too favorable. The management is
irving to make the mine pay It's way
sny extensive prospecting. Later. work
may again be taken up toward the north
of the shaft.
The bunch OF orc which last week
was opened from tho 800 level of the
No. shaft at the Colorado is holding
out well, according 20 superintendent
and n little below the main ore chan
mel In this mine and is undoubtedly an
offshoot OF tho big deposit from which
the company has been shipping reru
tions. this ore will connect NO with ono
OF the old slopes. and this means that
it Will extend for "A distance OF thirty
or forty feet.
The development OF tho Richmond
& Anaconda property is being nandled
through the workings Of the Uncle Sam
this work within n very short time. The
fact that the Uncle Sam people are min
ing ore body which appears 10 he
making over into tho Richmond & Ana
which Is being done in behalf OF the
latter company. The Uncle Sam offi-
cials nave for some time had consid-
cradle faith in the adjoining ground. in
which they have the controlling inter
est and the recent developments in
the Uncle Sam make the Richmond &
them.
At the May Day mine regular ship
ments arc being sent out from the new
ore body which has been pretty thor
efforts 10 get into the shipping orc from
the level below have as vet been un--
successful. but 1t is only a question OF
a little more work until connection
Will be made with the ore body from
tho raise, which is now about sixty-iive
feet above the 500, 4 drift is no. being
Is cutting through some very fine quartz
which promises TO make into shipping
orc with every round OF holes. Tnc
usual tonnage OF ore is being sent out
from the Nav Dav and the mine is in
exceptionally good condition.
Superintendent w, D. loose states
that he is now drivinf a drift for the
purpose OF prospecting the Sround be-
meath the cave which was found In the
Sioux mine last week. This cave has
good ore Indications. but the develop
ment work which has already been
done has failed to locate the proper
values. The ground in the vicinity of the
cave will. however. be thoroughly pros
pectcd.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
ANALYSIS OF THE
COPPER MARKET
Evolution of Industry Has Re-
quired Time, but Ends
Being Gained.
ADVENT OF NEW MINES
James a. Pollock Shows How
Situation Has Been Made
as II IS.
ADVENT OF NEW MINES

James A. Pollock. who has been absent
for a month on visit TO his two boys.
Is back In Salt Lake again. and when
asked on Saturday for a statement In re"
ssrd TO tho copper metal situation, he
gave the following statement. which Will
ce Of much interest to copper circles:
SO much detailed information has
been given out of late in regard TO cop
par mining and the copper metal situa-
,ion that I do not know that there Is
snything original that | can add that
will prove interesting or Instructive, II
IS an established fact that the solution
of- intricate metailurglcal problems and
The resulting entrance OF the porphyry
mines into this particular field OF Indus
trial endeavor, with their huge tonnages
of developed ore. made possible OF ab-
soluta proof through the Inexpensive
method OF churn drilling. was the gen
oratlve force that caused hesitancy and
then abandonment OF commonly accepted
Ideas. formed from past conditions, In
sofar as probable costs and production
were concerned. and brought about n
Lew alignment OF Ideas in relation TO
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
To REDUCE LEAD
AND ZINC TARIFF
Underwood Bill Demands the
Instant Attention of the
Utah Producers.
IN DANGER
Loss Assured 10 Producers
Should Present Programme
Be Carried Out.

John Dern. former president OF the
American Mining congress and at pres
emf one OF the directors, on Saturday
received message from j, Il. Gail
breath. who is now in Washington. that
the Underwood bill has been approved BY
the ways and means committee, and Is
10 be at the third reading at any time
This bill, the message continues, provides
that zinc ores shall enter the United
States free OF duty, while the schedule
on pig lead and lead In ores Is TO be
reduced to 20 per cent ad Nalnren
Mr.. Callbreath urges immediate ac-
ton by the lead producers OF the state
OF Utah, who compose the zinc producers
we'll. TO prepare statistics in scicn
tlfic manner for immediate presentation
ST Washington. the time and place for
the struggle TO retain the present tarif1
being when the Underwood bill gains
the senate.
According To the provisions of the
Payne tariff Law, tho Zinc schedule Is as
follows:
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
Present Zinc Duty.

bearing ores OF all kinds includ
Ing calaminc. containing less than 10 per
cent Zinc, shall he admitted free of duty
containing 10 per cent or more OF zinc,
and less than 20 per cent: one-quarter ol
one cent per pound on the zinc contained
therein: containing 20 per cent or more
OF zinc, and less than % per cent, one
hall OF ono cent per pound on tho zine
contained therein; containing 20 per cent
OF zinc or more, ono cent per pound on
the zinc contained therein.
II is proposed therefore, 10 remove all
duty upon zinc. This metal occupies a
very peculiar position at present, with
consumption eating up the surplus stocks
faster than production can fill the gaps,
This has given rise TO greatly increased
prices which have benefited the producer
but aroused the consumer. The zinc pro
duccrs, therefore, have n mighty stlf(
fight on their hands In retain the pres
cnt tariff or anything like Il,
The present tariff on lcad-bearirE ores
Of all kinds is IL cents per pound on the
lead contained therein, while lead dross.
lead bullion or base bullion. lead in pigs
and hars, lead in any form not specially
provided for in the act. have a present
nI Il
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
EASTERN MONEY TO
OPEN PIOCHE GROUND

President T. d. Smiley OF the North
Amenda Mining company OF the Phoebe
district l. In the city on his way to
Mr.. Smiley announces that he succeeded
In financing the organization and that de-
yelopment work 10 prove UP this ground
In an extensive manner Is an assured
matter The property consists OF seven
claims TO the north Of the Mendha one
OF the ven-known mines Of the camn.
ana MT. smiley saws enough preliminary
work has been done TO assure him that
I.s ground holds the continuation Of the
Mendha resources.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
OFFICIALS OF OHIO
KENTUCKY ARE NAMED

The directors OF the Ohio Kentucky
Mining company held the first meeting
SATURDAY afternoon since the board was
reorgauEed. and the following officers
for tho year were selected President
John Dern; vice president. i. II. Snow:
secretary. and treasurer. y. Reeves. The
affairs Of toe company were entered into
as thoroughly as possible for the benefit
OF tho newly elected directors. and an
adjournment for several DAYS WAS taken
TO still further permit the officials 10 map
out a policy for the future.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
ANNUAL SESSION OF
THE MINING EXCHANGE

The annual meeting of the Salt Lake
Stock & Mining exchange was held yes
terday afternoon for the election of the
governing board. and the following were
chosen for the ensuing year; W. J,
Browning, II. K. Cobb, Il. J. Evans. a, l..
Jacobs. J. l.. Karr, w. d, Nebeker c. w.
Pratt, Arthur Thomas and l.. G.. Wool
lev, Jr. The new members OF the board
are Messrs Cobb. Karr, Pratt and Thorn =
as, these succeeding w. III. Child, r. S,
WINNER. l.. G. Dern and q. II, Norton.
The members Will meet the first OF the
week 10 elect the president and other
officials for the year.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
Transitional Period.

The fear OF over production. and the
possible necessity OF a fight for the sur
Nival OF the fittest, was dominant in the
minds OF both productive and consump :
tive interests. and until new basis or
figures could be obtained through the
passage OF time and absolute proof AS
20 costs and production by these new,
properties could be secured period OF
great uncertainty prevailed. In consc :
queuce, and Notwithstanding tho fact
that consumption WAS above normal and
the shifting OF the carrying OF the bur
den OF =. normal surplus from consumer
TO producer was plainly apparent, the
price OF tho metal held AT a low figure
and remained there until. on account OF
continued depletion Of surplus stocke,
the price Al last turned automatically
in the right and normal direction by an
advance of cents per pound.
The average price OF copper during
the past ton years has been l5s cents,
and have a very firm belief that dur
Ing the decade that is before us the
price will not only average as high, but
viii exceed H. although | would regret
seeing tho price much above 10 cents,
since. AZ that level there always will he
q broad consumptivc demand, and IL is
the ezrnss, desire Of producers and con-
Sumers alike 10 avoid wide fluctuations
in the future and, II possible. hold TO
a stable and fair value.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
AVERAGE DAY CLOSED
RATHER QUIET WEEK

There was very little Of interest con-
nccted with the transactions on the local
exchange Saturday. the week closing as
IL had begun, quiet and with specislties
ruling in n rather limited manner. Sales
yesterday were for IS, 500 shares OF stock,
the market value OF which was si92o50,
bringing the week to 331.0 shares with
value OF S3e,9249s.
The following were the closing unlisted
and LISTED stoclS transa tons:
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
Liquidation of Stocks.
Striking Feature of IN,
Uncertain Times.
BREAKS THE MAp,
Instance Given to Show
Large Cash Sums 4,
Accumulating.

Tho liquidation OF securities sr1
recent market boom in the eas,
plained the return to lower stock
and the uncertainty that iaints N.
sitIon OF financial Interests Ia
along industrial lines. In thIs
tion The following article In IN.
News Bureau Is timely and \,
ing:
Several large fire Insurance. a..
have been selling securities Ia
usual extent during ine past far
and have been piling up larpe =.
pluses The November rise In IN
market presented a very fato,s,
portunity for disposInE' OF Iarss
% stock, sale Of which gave IA.
ancn companies handsome. nrn@,
number OF transactions. I.rhirh'
Lackaw9nna and Jersey Contra
good ilnlStrat Ions
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
GILMORE COMPANY HAS
A GENEROUS ACREAGE

In the account on this pace SATURDAY
morning Of the formation OF the Gilmore
Mining company IL was stated that inc
COMPANY was the owner OF twelve claims
-orty acres OF patented ground. The
acreage stated. by an unfortunate TYPO
zraphlcal error, was woeiulE below INC
mark for the twelve claims hold 40
acres instead. each claim consisting OF
twenty acres.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28

Do You know that fully nine out Of
every ten cases OF rheumatism are sim.
ply rheumatism Of the muscles due 10
cold or damp, or chronic rheumatism.
and require no internal treatment what.
evesf Apply Chamberlain g Linimens
freely and see how quickly it gives TO
Lief. For sale By all dealers.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28

FORENOON SALES.
Beck Tunnel. 500 at 13,c.
Grand Central, 100 at 75c.
Lower Mammoth, 1000 at 2qc.
New York. 1000 at sic; 200 at eic.
Ohio Copper, 100 at SEC.
Piochs Demijohn, 1900 at 10c.
Pittsburg Idaho. 100 at soc.
Prince Con-. 500 at soc.
Swansea, 1000 at Sac
Yankee Con-, 500 al 1sc.
Victoria Con. 100 at SIC.
Wilbert, 200 at 29c.
OPEN BOARD.
Colorado. 200 at 32lc.
Crown Point, 1000 at iic.
Iron Blossom. 100 at sI,o5.
Opohongo, 500 at lie.
Swansea. 1000 al sac; 1000 al &c.
unitsd rintic. 1000 at &c: 1850 at &C.
TOTALS.
Regular, Si00 shares for yIi5s5o
Open. 25,4oo shares for e7Bf
Total. $500 shares for s1sos.5o.
WEEKS TOTALS.
ss1.ots shares for s3s.e24.s2
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
Is Call to Arms,

Secretary Calbresths call TO arms will
come as a great surprise to the Utah pro-
dncers, Tor they had no Idea as a rule.
that the matter had reached such an ad :
yanccd stage. but If ever the producers
had reason to unite and get busy for
their self protection that time certainly
is here. Ono of the most hopeless tasks
ever undertaken in Utah has been the
effort 10 get the mineral producers of
the state To unite to protect their inter-
ests, and such movement now must
be undertaken from the very bottom as
there is no organization sufficiently
equipped TO provide Washington with the
essential data regarding the industry.
The producers in times OF peace have
failed to prepare for war. but now that
war is declared there can he no excuse
for further delay In saving their inter
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-01-28
Will Spoil Home Market.

Figuring lead at s. per 100 pounds for
convenience. and an orc containing 100
pounds OF the metal. the present tariff
demands duty OF S150. while under
the proposed law the same ore would
come into the United states for SI.2S.
into the country under the present law
demands tariff payment of $2.124, while
under the proposed law, should lead be
valued at 81 per 100 pounds. the duty
VIII be only % per cent OF the value,
or Si.25.
Tie interest had in this matter by the
Utah metal producers Immediately can
bc appreciated by the fact that I'm 1911
the Utah lead mines produced 1855 $50
pounds. valued at s5.lo7.64s while the
zinc production last year was 1854, ,19S
pounds, valued at s60l ,902. The rednc-
ton Of the tariff on these metals means
reduction IN The market price thereof
and the necessity Of the mine owners Of
the United States competing with rnc
cheap labor and other equally unfavora-
BILE phases OF the Mexican lead industry.