davidaulloa/AmericanStories huggingface dataset:
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Much Ore in Merger.

The Goldfield Merger Mines company is
conducting development at a number OF
points at depth Ore OF excellent grade
and in large volume IS now exposed in
tho Velvet claim OF this company. and
this work IS being csrred on from the
workings of the adjoining Poleverde mine
of the Jumbo Extension. company, on the
500 and 900-foot levels. The latter COM
pany has opened high grade ore on these
levels up To the line OF the Merger and
in a nhort time the latter will be pre-
pared to begin storing ore. the only pro-
duction at present being ore that is re-
moved in the course of development
In its st. Ives or main workings the
Merger Mines company is now developing
at six points from the croSscut that was
driven TO connect for air with the ad-
Joining Grizzly Bear mine on the 1890
foot level and is sinking the st. Ives
shaft. This shaft. the deepest In the
district, Is now down over 1850 feet end
Is being sunk rapidly, with the aid of
machine drills. TO reach the 1750-foot
level. where q crosscut Will be driven
to the line OF the Atlanta property and
the latter company viii at this point
take up the development OF its property.
The shaft will then be sunk TO a depth
OF 1000 feet. The 1880 crosscut penetrated
dtagonally the great Grizzly Bear vein
and cut number OF quartz seams WELD
ing good ASSAYS. These are now being
followed and explored by means Of drifts
az
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Costs Being Lowered.

An important feature of the December
flnal report Is the low figure 10 which op-
Grating expenses have been reduced. 4
year ago the costs were In the ncighhor
hood of 81 per ton when q higher grade
OF ore, and consequently q more refrac-
tory product was being treated. In De-
cember last the costs had been reduced
10 $o.I2 per ton and all mill products.
such as concentrates and concentrate
residue, are now reduced 10 gold bullion.
A Crosscut Is now being driven on the
Combination claim OF the Consolidated
at depth OF about $50 feet 10 cut the
great orc body that was opened short
time ago on the 130- foot level, and which,
at this level alone, Is estimated TO have
added S500,OO0 net TO the value of avail
able ore reserves in this part OF the
property Interest new centers largely
in the results Of the deep work i'll prog
ress In the Grizzly Bear mine. where
large bodies OF smelling ore have been
exposed down TO the i300-foot level and
the deepest work in the district. on the
1400 level. is in the same gigantic vein,
within the shale. and apparently is 70
provo the same enrichment.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
NOT MANY STOCKS
RECORD GOOD GAIN

James A Pollock q Co. bankers and
brokers, furnish the following, received
over their private wire yesterday after
noon.
Paine, Webber & Co. Boston.-Action
OF the market today was very disap-
pointing in view of the severe decline OF
vest terGay. only q few stocks making any
gains. We understand the metal is now
been made at this level during the past
few DAYS. Although no Immediate re-
oovery is in sight we think prices arc
at a level where stocks cen be safely
Logan e. Bryan New YorE.-Moderate
pressure on the general list and rather
aggressive selling of Pennsylvsn,s and
Northern Pacific, accompanied by talk or
panies was the feature cf the ira ding
today. The news from Mexico. while On.
the whole regarded as somewhat assur-
ing, was, nevertheless. conflicting and
served 10 exert some restraint. The
bank statement. issued after the close.
that is. the exhibit Of actual conditions.
was somewhat more favorable than an
ticlpated.
The news relative to fremens wage
controversy was suggestive of further
delays before an agreement to arbltrate
Is reached and the opinion is still enter
tained In high quarters that the strike
is not likely To be resorted to. The mar
ket is governed almost entirely By po
private advices from the other side. the
Turko- Balkan affair is gradually ap
pToaching crisis so that sentiment in.
London and on the continent Is more
siona element whose transactions at
present appear to dominate the irnme-
diate course of the market. may produce
further lrregularity. We incline to the
on the declines holds forth the greatest
attrHC tons.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
RAY NOW HANDLING
GOOD ORE TONNAGE
Recent Record Shows That
Company Is Solving lis
Main Difficulty.

one oil the troubles with the Ray Con-
solidutei company has been considered
the fact that the m!ll was ahead OF tho
ability OF Tho tnlnc 10 produce the orc,
but according TO eastern adviccs the man
agcment has made a record OF under
ground mining which indicates that these
troubles arc bcius eliminated in salts
factory manner.
IL is stated that durius the last ten
days Of January The company shipped
su average OF Gl5i tons OF orc daily, the
grade OF which way LIZ pcr cent COP
per. an increase over recent touua2cs
in both extent and value. The con-
pany shipped tho first ton OF orc from
the mine on February 8. 1911. Two years
from this date there WAS shipped FROM
the property n total OF l9ii tons OF ore,
Thls record Is pointed 20 "a one hard
TO duplicate IN ths history of underground
orc extraction.
Some eastern sdviocs have Indicated
that dividend action on the part of the
RAY Consolidated company may be dc
layed beyond original plans, owing 20
the accumulation OF copper and the re
cesslou I'm the copper market. The d.
rector viii meet the latter part of the
month 10 decide this question. and so
fsr there has been no official expression
ono way or thc other.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
NEVADA HILLS IS
OUT WITH REPORT
Debts About Paid and Active
Development Is to Open
New Resources.
WHY ORE RUNS LOW
About Two Years Supply OF
Ore Now Exposed in
the Property.
WHY ORE RUNS LOW

The report OF tho Nevada Hills Mining
company. la ted December 81. 1912, and
covering j period OF nine months. has
been received. a striking feature ot
which is the quick manner in which the
company has eliminated the Indehted-
ness President Wingi1eld SAYS In part:
"we feel that tho past ninc months
operations have been very satisfactory.
indeed tho net rcslisa uon for the period
being N3s.eOaGs. The report al March
81. 1912. shaved that the COMPANY Was
Indebted in the sum Of sia5 o0o. where
as. the prefent report shows the COM
pany 10 oe Indebted in tho sum or
sloo. coo. and with available assets Thar
roughly show a surplus Of S3l ooo.
In Weighing the item of cost per ton,
attention is respectfully called 70 the
fact that the property Of your company
10 situated at a point forty y-hve miles
from any railroad point. which adds ma
terislly 10 the expense both in the mat
ter OF supplies and IN The obtaining OF
a good class OF labor
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
installation Is E.asy.

ASIDE from the construction OF In. :,
Ice Inc, the installation OF eIecfric,s1
g. mine is simple affair. All an
needed for the hoist Is a motor -
taxes the place Of the steam ,st1
ments. 4 horsepower motor =
Inree-ton locomotive viii draw flftesI
INenty-nVe ore cars. Two min
types oi pumps are used at the min ii,
the plunser type. where the wafs,
clear and the centrifugal, vhers
gritty. The highest lift made hv
pump IN the state ia IN Eureka. =,
900 gallons q minute are lifted arr
a head Of 100 feeLs
In the Tlntio district eight shasts
Guiding the Iron Blossom. are enr,5s
with electric holsts II is cia,nosd
this power that stops can pe mad
one-tflird the space required for sto
The motors require little attention
any time. In pumping stations suppj'
mines. tho pumps run occaHonaIiv'
week without attendance
At Bingham the Utah Copper conn
has installed. among other enu[ufl1
SiN motoT-driven compressors. The b,
lem of operating the steam slnoyefa
electric power is in band and VfII
solved. The Utah-Apex runs It's
compressor, haulagc and blowers by Z
tricity. The Ohio Copper mine and
are among the largest users Of clec
power in the district. The hoist and d
preSsUr Of the Utah Consolidated
motor driven. The Ophir Hill Ml1
company at Ophir. Utah, has bui|
hydro electric plant OF Its own
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
WEAKNESS IN ZINC
WAS NOT EXPECTED
Authorities Believed That the
Conditions Would Keep
the Market Strong.

The weakness IN speitcr developed dur
ing the past two or three weeks Is entire
Is unexpected and against the predictions
OF all students os ihc metal situation. The
Friday market was 6.2225 cents per pound.
while the lowest monthly average during
1912 was e4i2 cents a pound The high
est monthly average OF 1912 VAS i.i5i
cents. which was obtained in the month
Of September. aud the average price Per
pound for all Of 1912 was 6.9iS cents.
a creat deal mas been made OF the un-
usual conditions that prevailed during
1872 to bring about the highest sustained
range for spcltor in history. Production
wos large. out consumption was even
greater, and the domestic consumer had
10 even import y considerable quantity
OF the metal from Germany 10 MI the
needs in the United States. II was out
lined early this year by those who know
conditions that production could not eE-
coed consumption in 1915, and = there
were no stocks Of spcltor available the
market price naturally would be well
The world vide unrest and financial
hesitaucy, seen so prominently in the
instance OF copper during recent months
may have something TO do with spelter
as well, currallirS consumption 10 some
extent. The consumer OF spsIteT may feel
like the copper consumer. that the metal
has been driven 10 a height not logical
Inay discourage the boom tendency aud
bring the metal down 10 a cheaper basis.
Utah always has produced more or less
zinc and, as a consequence. II has been
interested In the spsltsr market, but
" IS more interested at the present time
than ever before. The qua nifty OF zinc
beins produced Is not so much IN excess
OF al former records. but there are more
producers, many OF small tonnagee. but
producers dcma udlnG the nigh prices that
prevailed IN 1912 for sufficient profts.
The Utah zinc ores as a rule must DC
shipped to the eastern zinc smelling
fields. freight rates are high and there
are so MANY other items Of expense in
CURED that the Gpelter market must roach
to generous ranges in order 10 admit OF
production ar all.
Locally the spelter market Is being
M atC ned s rInEelv q 8 Is conner
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
WALTER B. FARMER
ISSUES STATEMENT

Walter r. Farmer, former president of
the Utah Metal Mining company. who
resigned a short time ago, has issued a
statement to stockholders thanEnS them
for their assistance and co-opcrat ton and
requesting that the same support be
shown his successor. Il. J.. Jennings OF
Salt Lake City. He states that the ac-
ceptance by Mr.. Jennings OF this Office
ie evidence that Mr.. Jennings is sure
the property at Bingham has q future.
Mr. jennings have served for some time
consulting engineer,
Mr. Farmer was compelled to resign
as president to assume the charge Of a
large estate which has been intrusted to
his care, but he says that he still re-
tains his stock interests in the Utah
Metal company.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
RECORD TONNAGE At
Chief LAST MONTH
Eight Thousand Tons of Ore
and Waste HoiSted by
the Company.

During the present week the scarcity
OF water resulted in the loss OF n couple
OF shifts work at the Chief Consolidated
Inine, but the usual amount OF work is
now IN progress a. this property. The
mine has been securing water from The
Gcmini company. and while the water in
al the Tintic wells has heen exceptionally
low for more than a month, no further
trouble is anticipated. says the Eureka
Reporter.
For the month OF January tho Chief
broke Hil previous records IN devel-
opmcnt WORK and also in holstiuE, For
that ,noDih 5000 tons ol material-orc aud
waste--Wcrc ioisted from the mine and
the development work on tho various
levels amounted TO nearly 500 feet. Dur
ing The early part OF January but two
shifts were employed. hut later In the
month a third shift Was put on The
record OF the property for the prcrent
month ehoud hr equally good and
ihore Is . pos sibility OF IL being bet
ter
The main working shaft is nov some
httlo distance below the 1Snn level and
the management states thdt sinking Will
he continued until the water Is on
countered. Ss near as can be deter
mined from work which hos already been
done in the neighhorinc mines The va
ter level viii be reached At the Chief
within the next thirty days.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Production Of Year.

The general mara ayers report shows
bills payable on December II. 1912. Of
tl00. oJo Against this are given the fol-
lowing resources: Bills receivable,
$4,000: cash. s14,60o concentrates and
bullion in transit. s32. 500; accounts re-
ceivable. $1,000. supplies In stock, s55,5po;
absorption (values held in suspense in
miID. S23. o00 q total OF $lGt00n
Production during the nine months to-
tailed % 5si tone NJ ore, the total gross
vsIue OF which was $S0f.61 81, or S26.S
per ton. oi which sIs.l0isj vas lost In
taiIiugp, leaving net production valued
at sT2s. .55i.j2. or s24.2i per ton. The to-
tai costs OF s2ST.754.S6. or $3.50 per ton,
left net operating profit of si3S, 909.s6.
or 1885, per ton. OF which $4,000 was
written off for depreciation. leaving net
profit OF S31s. .909.6s. or f106s per ton.
During the year tho company drove
1855 feet OF development work at A cost
OF Sl056 per foot. Approximately 20
per cent OF this work Was done Oh ore,
producing 1872 tons OF ore valued at ST.
3sS."5. or S2l.1T per ton.
The report then says, in part:
'The power situation, which in the
past has caused serious interruption ot
work, is now very greatly improved,
since the completion by the power COM
pany Of a retaining dam which will al
low them 10 impound the rush Of water
during the early spring 'run-of. and at
this date il seems proba BILE that we shall
have continuous power service In the
future,
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Ore Now in Sight.

For the purpose OF this annual report
no attempt has been or will he made 10
furnish an accurate estimate OF the
measurable ore or ore In sight. for
such a course would have necessitated
i considerable amount OF dend work not
justified by conditions. On the contrary,
all development work. has been carried
Oh with the idea o. rendering such work
available FOR the future economical ex-
traction oi ore, which procedure, previ-
Gus 10 actual stopping, docs not expose
ore bodies on enough sides To render
them accurately measurab bic. Willie the
result of our exploration work has in
some cases been disappointing. it seems
within tho bounds OF conservatism to
state that there Is at tine present time,
sufficient ore exposed 10 operate the mill
at the present rate or production for a
period OF two years; and IL cannot he
said that the mine ls yet beyond the
prospective stage
'Devclopment has been somewhat cur
tailed during the year past. In order
that the Indebtedness OF the compan ny
might be discharged more rapidly and the
interest charges wiped out. Now that
the company is practically on, OF debt
and has good assets In the way OF ore
reserves. plant equipment etc. a more
active policy Of development has been
decided upon.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Jumbo Ex. Does Well.

An excellent record OF production is
being made by the Jumbo Extension
company and the miu at Bonnie Clare is
now treating successfully an average OF
about 1000 tons monthly. In addition to
this milling ore the company Is shipping
material Of higher grade to the sampler
or the Western Ore Purchasing company,
which handles most OF the custom ores
in the state. Development IN the Jumbo
Extension company's ground has yielded
excellent results of late. and the com
pany is now upon substantial profit
earning basis.
Some ore OF sensational richness has
been exposed on the Nernal property. in
the Diamondfield part Of the district, at
depth of 100 feet, and the crosscut on
the 20o-foot level ls now nearing the
orc shoot. This property has shipped
some high grade ore and there are good
Indications that IL is destined 10 become
one of the Important producers OF tho
district. On the Diamondiield Black
Butte lessces are driving FOR the extern
sion or the famous QusTtzltc ore shoot.
from which production Of approximate
ly half million dollars was made above
the l50-foot level in the carly davs.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Water for Milling.

Being dependent on the mine 10 fur
nish water for milling operations. there
have been times in the past when pro-
duction might have been incre8 scd. had
additional water been available How
ever. this curtailTnent Of production has
90 warrant the expenditure which would
be necessary in order TO pipe in water
from the outside. The plans Tor devel-
opment IN tho immediate future include
the sinking of the present shaft, which,
Of course. may materially Increase the
present supply Of water
During The early part OF the present
fiscal wear the better grades Of ore were
mined and millcd for the purpose OF ere
atinE a fund TO pay off as rapidly as
possible the company's Indebtedness and
reduce The interest charges. This having,
TO large extent. been accomplished.
during the latter part OF the year no
particular figure for the mlll heads has
been predetermined, ore oi any and all
payable grades having been mined en-
countered. or as circumstances and
economy in working dema ndcd
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
REVAMPING OF THE
UNITED COPPER DUE
The Boston News bureau saws

=. Assets of the receivershpped United
Sopper {! p56 roo COMPANY, arc estimated at
So:VeG,V.S with liabilities Of iA,Soo.oeo Of
which S2,n3i.i3i are PAST due. The com
psny has less than $1,000 in it's treas
ury. The petitioner, the Aetna Indemnity
company, is creditor 10 the extent of
from bonds OF Tho La France Copper
company, guaranteed by the United Cop
per company.
The United Copper company, which is
lslSelV holding company. had made
large advances TO it's various subsidi-
aries, amounting in all 20 S2,59l. 900. &C
cofoing TO the petition for recelvership.
In detail these advances are as follows
S675.o63 due from Ia France Copper
company on advances; sl9G. lilo due from
Ia FRANCE Copper on coupon guarantee; :;
SeS,3oi due from PittsburF & New York
Coal COMPANY on advances; $2l2 $50 due
from Basin Production company on ad-
yances; $l.2H,i43 due from Montana Ore
Iurchasin% company on advances; I;
500 600 due from miscellaneous; total,
United Copper company assumed La
niAty Of $3.50, 600 when IL guaranteed La
france Copper company bond coupons,
are unsecured debts of $2l, 13i, while Sc
cured claims approximate 81 500 600 This
amount IS understood TO he owed the
Assets Realization company, which has
he!o tne United company'S assets for
some time past as security for loans
Chief subsidiaries and assets of the
United company are; Montana Ore Pur-
CHASING company. Pittsburg & New York
Coal company, Stewart Mining company.
ONO Copper company. La France Con-
per company (now Atlantic Mining com
panYD, Basin Reduction company and
Copper Securities company In addition,
there We're also among the assets. shares
o! Davis-Daiy Copper company, Bingha m
Mines company Bank OF Discount. Fidel-
lty Development company Western Utah
Copper company. Consolidated Steamship
company, Western Ice company, Balanced
Gable Crane company. Apex Consolids ed
Mining company. and Dominion timber
lands.
1t is understood that United at Zone
Time held 10000 shares of United Cobalt
exploration company. 1000 shares of
Consolidated Steamship. several thousand
shares OF Western Ice and $7S, 900 OF It's
bonds. while the holdings in Stewart.
OHIO and Davis DAILY were each in ex-
cess OF 500. 900 shares
That the United Copper company op-
Grafton was not limited to mining prop
critics is apparent. for the Bank Of Dis
count later became the Northern Bank
OF New York which went down In the
Robin failure the Fidelity DEVELOPMENT
company was n land sales concern, which
was supposed To control the Morris PARK
race track. while the Crane company
owned patent crane that was used 10
some extent during the CONSTRUCTION OF
New AOTk first subway,
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Goldheld Orc.

Operations on tho Goldheld orc prop
erty are attracting attention Of mining
men. as the shaft which IS in line with
the great Consolidated vein system and
but a short distance from that company's
boundary line. is now being enlarged
and Will be equipped with a powerful
without delay, Biologists express the
belief that this shaft will penetrate the
Columbia Mountain fault ore channel at
a depth OF about 700 feet and there are
many who predict that tho Orc viii be
the next sensa ational gold producer OF the
district. Development continues on the
Lone Star. Sandstorrn- Il endall. Booth.
Blue Bull New Jersey Mines property
Nevada Eagle Silver Pick Consolidated.
c. o. d Consolidated and al a number
OF other points in the district.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
SPOKANE ON TRAIL
OF MINING BOOM
Snecial TO The Trihnne

Special to The Tribune
SPOKANE, Wash. Feb 15.--Spoliane
mining men, who have been studying the
Pacific northwestern situation for years,
predict that the coming summer will gee
the greatest activity In the mining indus
try In history. basins their prophecies
on the Inquiries being received daily from
eastern investors, who fra nkly state they
are now looking to the northwest crn
mineral belts for opportunities 10 place
their money.
Conditions at present point upmistak-
ably TO a year OF unprecedented prosper
Ity and already there are many indi-
cations that the investing public is look
ing TO Spokane county mines as certain
TO produce much in excess OF any pre-
vous twelve months since tho first To-
cation was filed.
Spokane and Coeur d'AIeue brokers
are receiving more Inquiries from east
crn people with extensive capital 10 In
vest than at any time since the eX-
change was established and numerous
deals are on for the purchase Of entire
properties
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
Electricity at Park CITY.

At Park City the Silver King q
ton is doing its hoIsting. hauling, pu
ing, compresslng and ventilating
electrical power. The Daly-JudR1
equipped similarly and the old Oni
mill Is using electricity for various
poses, one OF the most interesting
ing a skip which rises and dumps q
maticaliy.
The steam electric plant at the 10
mill at Garfield has given way 10 VI
born electricity, OF which 1900 he
power VIII be used az the Magma
Arthur plants. Tho Bonnevllle Tu
company at Springvllle and the N
Chief at Santaquin both run their 3
pressors by the same power. Ele(
power Is used extensively by the An
can smelter at Garfield and the Inte'
tional smelter at Tooele,
Beaver county has two running p
critics that use electrical power, the s.
Utah and tho Majestic.
The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-02-16
ENTERS
THE FEATURE LIST

MI Saturday on the local exchange. and
the stock gained materially in market
value. with only 40 shares coming out
An imrr9ve1nent f,1 OF much merit: y re. re,
earnings continue SO we'll above dividend
requirements that this issue is one Of
the most attractive on the board
II was a rather satisfactory morning
ell round. tho Tintic stocks especially
being active. The sales for the day to-
tailed 1925 shares, the market value of
which was s5024.7S The weeks sales
totsled Ill ,62i shares. the value OF
which was s23,67033
The following were the closing trans
actions;
UNLISTED STOCKS