davidaulloa/AmericanStories huggingface dataset:
The Daytona daily news. [volume] (Daytona, Fla.) 1903-1926, 1916-02-21

Mr. and Mrs ROLAND Z. Stevens are
ENJOYING 4 short visit from y G Dill
man. OF Joliet, III. a brother-in-law OF
Mr. stevens Mr. Dillman has previ-
ously visited Mr. and Mrs. Stevens at
their home on South Ridgewood ave
nue.
Arizona republican., 1916-12-17

of the war seems very likely to be veri- fled in the not distant future. Two sales of spot copper have been made at 3S cents per pound, one of which was for 1,000,00O pounds. and we under stand that a price slightly better than this will be paid by certain small con- sumers who have been holding off from the market in anticipation of lower prices and failed to fill requirements that have now become pressing.
 Copper for delivery during the first quarter of next year Is quoted $40 34h cents but it should be understood that this quotation and the quotation of 33ia 34 cents for second quarter copper are largely nominal, for the reason that practically all copper de- liverable in the first half of 1917 has been sold up.
 The scarcity of the metal can hardly be better illustrated than by the fact that rather brisk business is being done in copper for delivery nearly d year hence, at S2 cents per pound. And it is barely more than q month ago that the first recorded sale of spot copper at 32 cents was hailed as a sensational copper event
Arizona republican., 1916-12-17
ENGINEER PAYNE PAYS HIGH
 TRIBUTE ID THE PR0SPECTOR

Dr. Henry Mace Payne, C. F.. Ph. D., Sc. b., consulting engineer of New York City and formerly professor of mining at the University of West Vir- gina was the guest of honor of the Mining Society of the University of Arizona last week Dr. Payne is known as one of the greatest authorities upon recovery of gold from frozen gravels of the Arctic regions and was respon- sible for the introduction of the pres ent hot water thawing devices now in use in the Klondyke For the past few years he has been in charge of the operations of the Lena Goldfields Co. in Siberia. and acted as arbitrator for that company in controversy with the Russian government Later he was re- tained as consulting engineer by the latter and is still in it's employ in con nection with his other duties.
 Dr. Payne spoke to the Mining So- ciety on the recovery of gold from frozen gravels. He paid a glowing tri- bute to the prospector. He said the mining engineer is apt to think him- self pioneer In methods perhaps, he Is. But the mining engineer passes upon the development of the prospect, while the prospector himself makes possible the field for examination and subsequent development along com mercial lines. Without the prospector few of our latest operations today would have been in existence. The prospectOr always in search of the pot of gold at the end of the rainbow, is the worlds most striking example of the adage. hope springs eternal in the human breast. His cabin, always open to the traveller: his endurance tested to the utmost. the prospector has always been and must always be. the advance guard of the great army of mining men"
 Describing Siberian mining condi- ! tions, Dr Payne said:
 The discovery of gold in Siberia is very interesting. About 1850 a peasant discovered gold in the site of the pres ent Beresovsky mine in the North 1 Urals This was in the reign of the ! Empress Katerina. The peasant was ! imprisoned for life, for undue curi- osity.'
 Tn 1861 Roukholff propounded a theory that no river flowing south could have gold in an east tributary 1 The Nerni Is an east tributary of the Nigri. Tartar servant found a mug get and Roukholff gave him beating for stealing The Tartar then went to one Nacielivsky. working on the ! Hhomolhho. and Vacielisvsky staked ! the claim In distance of less than ] two miles on this stream. there were ! subsequently taken out sl5.830, 100 worth of gold
 Entrance To the gold fields of | Trans Siberian railway to Irkutsk. on ! the west shore of Lake Baikal For ! 240 miles from lrkutsk a fair automo- | bile road has been built. From here | on the trip may be made by a rowboat. d distance of eighty miles. In low | water. a team of horses and native wagon. or telega, is essential ] Food tx secured at the various ma . 1 tive settlements en route. and men to ! row the boat down stream or horses to tow il against the current are obtained
Arizona republican., 1916-12-17
6be MINES of ARIZONA

Miami established a new high rate for production when it produced A. 96S.000 pounds of copper in November. This is an increase of 109,000 pounds over the largest previous month ever reported. October 1916. A year ago it's productions averaged between S,5O0,O and 4,000,000 pounds of copper a month
 With only one month of Miami s year to be estimated it becomes appar- ent that production for the 1916 year should easily amount to more than 53.00O. 900 pounds. In 1915 Miami pro- duccd only 4l,6l3,604 pounds and in 1914. with the mine closed down four months of the year production was only 24.740,00 pounds
 Costs at Miami are being kept well in hand. Despite increased wages and higher prices for materials, costs have been kept under 9 cents lately. This was due almost wholly to the speeding up of production. Some months of the year are understood to have seen costs above cents a pound. and for this reason. when the cost sheet is made out for the year. Miami may be found to have slightly exceeded 9 cents pound.
 It is easily apparent. however that if Miami can maintain the present rate of production right through the one remaining month of the year and still
Arizona republican., 1916-12-17

at the government post stations. When one considers the difficulties of the trip today, and then recalls that in the early eos prospectors wended their way by sled over the ice in winter. distance of 5000 miles from Petrograd. he can only feel amazed at their energy.
 About 5000 employees are on ti.e di rect payroll of the mining company, and at least 30,000 people are depend- ent directly or indirectly upon the min ing operations.
 The mining world first became in- terested in this field when the rich Blagoveschensky claim was at it's greatest production. In one year. by open cutting, 100000 cubic yards were taken out and $lS,000000 reco- vered. This averages about SIP per square foot of bed rock. In d distance of twenty miles the output of this val ley has been almost Sl00,000 1000 The total recorded output of the Benskoie properties is in excess of gold stolen and sold illicitly. In this connection, the attitude of the Russian govern ment towards the stealing of gold is unique. The workmen do not consider 1t wrong to pick up nuggets in the workings and to keep them. calling them "Goment."
 The government regulations regard ing the hiring of laborers stipulate that the rate of pay due to the workmen for gold so taken is to be specified in the contract This undoubtedly gives the workman certain right of own ership. and makes it difficult to sue him for picking up nuggets. and any agreements without this clause are considered Illegal Any effort to cope with the evil Is an uneven struggle of one honest man against several hun dred expert thieves, whose actions are sanctioned by established custom and partly protected by the governmental regulations.
 In one working place the gold has averaged for a period of over a month, $46.75 per cubic yard In all of these places q watchman is kept for each miner to prevent theft. So far as 1 know this is the richest gold field in the world today. When comparison is made with the Klondyke which aver 1 ages from nine to forty-three cents per cubic yard. one marvels that even greater profits have not been made. i But up to the present time operations have been overstaffed with dspro- portionate number of clerks. bookkeep- CTS. foremen, watchmen, drivers ser wants, etc. and lavish outlay for car riages and equipment countenanced throughout the administration. so that nothing less than a veritable Fl Dorado could have supported the overhead ex- pense.
 The introduction of dredges. with the consequent saving of values, the 1 influx of modern methods and correct mining administration. with the elimi- nation of theft and cumbersome red tape will bring about improved condi- tions of transportation, improved food. ] housing and living. and will make Si- ! beria eventually as easy of access as healthful and as full of opportunities for mineral development as Alaska and Yukon"
Arizona republican., 1916-12-17
WEEKLY FINANCIAL REVIEW

NEW YORK. Dec l5.-The radical downward revision of market transac tions which accompanied this week s enormous selling movements derived it's chief impetus from Germany's un- expected peace proposals, but seemed inevitable, apart from foreign and domestic development. In the judg- ment of disnterestcd observers the bull market had grown stale" and required drastic readiustment.
 Prices rebounded to 10 points and even more in the batter part of the week when advices from abroad threw q damper on the prospects of an early settlement or truce. There was much conjecture and speculative dealing with this country's economic condition after the war, but the concensus of opinion in high financial circles was that the demands of peace would fully offset those occasioned by the titanic struggle still raging.
 The strength of railway issues, even when the balance of the list was tot tering, indicated steady accumulation of those shares from investment guar ters. The roads hitherto neglected rose 3 to points, southern and south western lines being most favored.
 Monetary conditions were relatively easy. at no time approaching the high rates of the previous fortnight. ln- dustrial and mercantile conditions were unaffected by the change wrought in prices of securities.
Arizona republican., 1916-12-17
Liabilities
CHICAGO GRAIN

CHICAGO. Dec. 16-Wheat prices shot skyward today, impeled by the Russian dumas rejection of peace and Dy announcements that the United states would not at present offer to mediate. After excited bulletins they carried the market up 101s points. uotations fluctuated widely and closed unsettled. 4%c to Sc net higher, with May at $1.62M to sl.63. and July at sL37 to Sl.37A. Corn gained 25sc to Sc. and oats 2Ikc to 2kc. There was setback of 10c to BOG in provisions
 One of the most turbulent openings since the war began was witnessed in the wheat pit. It seemed as if the crowd almost to a man was rushing to buy. The French victory in the Nerdun district added to the vehemence of purchasers, but some degree of caution began to be manifest after the rise was approaching II cents. Re- actions proved brief and the bulls were in strong drive again during the , last hour
 It was said that 1,500,0OO bushels or | more had been taken for Europe within : "A hours and that important relief , was at hand in the matter of trans Atlantic shipping facilities.
 Corn strengthened with wheat but
 moved much more slowly and kept
 within nearly normal limits Busi- ness was restricted by scantiness of the movement from first hands. Oats showed little or no independence from
Arizona republican., 1916-12-17
FINANCES AND MARKETS
[eerubhean A. ?. Leased wIrel

N'fNfr'0'~f7'. ~ fF GN"eeS "Htl
 NEW YORK. Dec l6.- (Wall Street. )-Additiona recoveries today of to points in stocks recently un- der pressure. with a rally of 25 points in Bethlehem Steel. were due mainly to a hasty covering movement by the shorts and no little buying. particu- larly of rails. by investors and oper- ators who seemed to feel that the hys- teria of the last few days had run its course.
 Today's rallies included United States and Lackawanna Steels. the former making an extreme gain Of 2ia points. and 10 3 points in coppers and other metals. Far more convinc- Ing. however. was the sustained move ment in rails. low grade issues being the foremost features.
 Standard shares were relatively less active. Total sales of stocks S50.000 shares.
 The bank statement was In keeping with general estimates.
 The markets for foreign exchange were nominal. but mainly lower Bonds were irregular on limited deal ings Total sales, par value. Sl.975.000 United States bonds were unchanged on call during the week.
Arizona republican., 1916-12-17
CLEARING HOUSES. ETC.

NEW YORK, Dec. 16.-The state The statement of the actual condi- e tions of clearing house banks and trust companies for the week shows that they hold s94. 1920 reserve in excess of legal requirements. This Is an increase of $20.656.4S0 over last week. The statement follows:
 Actual condition:
 Loans, discounts, etc, $3,342.47 900 Increase. 1l.972, 900.
 Reserve in own vaults (B), $427. .164, 900. Increase, $i3.s27 900.
 Reserve in federal reserve bank s179, ,659, 900. Increase. $1 ,294.0 .000
 Net demand deposits, sl7i. 1924. 900 Decrease. S276.000.
 Circulation. $2S.s52,000, increase $65,00O.
 (B). of which $360, 0,609, 900 is specie Aggregate reserve, $661. .S67 900.
 Excess reserve. 94,447 ,32O: increase s20.656.4S2
 Summary of state banks and trust companies in Greater New York not included in clearing house statement Loans. discounts, etc. $769. .696 900 increase, $782,600
 Specie, $61, ,S32. 200; decrease. $9OS, 800
 Legal tenders. sl0 7,5OO: increase
Arizona republican., 1916-12-17
Inspiration Copper

Considerable surprise was expressed in copper circles over the falling off of 100000 pounds in the November out put of the Inspiration Copper Go. No official reason could be obtained for the decline and the point was made by one officer that the company could not be expected Co continue at the high rate il had been operating in previous months.
 While some cold weather was ex- pcrienced during November. the tenn peratures were not low enough ma terially 10 curtail the production. The fact that the total of 0,600, 900 pounds was l.250.0D0 pounds under the high record for September and was the low est since June, surpassing that month by only 100 900 pounds came in for considerable comment.
 An increase over the November figures is looked for this month. al though it IS admitted that many things can happen to keep operations down during the winter months.
Arizona republican., 1916-12-17
LIVESTOCK
At St Louis

ST. LOUIS. Dec. ls.-Hog receipts, 7oaD: steady. Light, s9.65mIg10; pigs. sS.00H9.25; mixed and butchers, ss.I0GI 90; good heavy. SI0.2OM l035. bulk, $9.s0M10.20
 Cattle receipts. 1900; steady. Ma tive heef steers. s7.50GI2.75; yearling steers and heIfefs SS.5OM lI50: cows. $5.501s.50. stockers and feeders. s5.2O m1i5. prime southern beef steers. sk.9O@ 800; cows and heifers. S4-25p 1.50: prime yearlings. steers and heifers. SIjCH9o0: native calves, s6.00M1200
 sheep receipts none: steady. Lambs. & o0m 1925; ewes s5.00d
Arizona republican., 1916-12-17

The output of copper by the Magma Copper Co. by the close of November will have been practically doubled. The company heretofore has been produc- Ing at the rate of between 5000. 900 and S.OO0,000 pounds annually Net profits on that amount of copper have been running at the rate of more than s d share annually. With present facil- ties capacity can be doubled without any additional expense to speak of. Ar rangements have been made to greatly enlarge the output beyond what it will be with present facilities
Arizona republican., 1916-12-17

After paying a dividend of s450. 900 on October 3l. the Arizona Commercial Copper Co. had on hand s450. 900 in cash. At the present time the company is shipping about 1jO tons per day and on this is earning S60 900 q month on 90 cent copper According to Presi- dent Charles $. Smith. the company will soon be in shape to ship 300 tons per day and make anywhere from 750. - 900 to 100000 pounds of copper per month.
Arizona republican., 1916-12-17

keep costs at around cents there are possible profits in sight of approxi- mately $s,5OO,oO0 on an average price of copper about that quoted in the open market throughout the year. If Miami was unable to obtain full and immediate advantage of the rise in the metal during the past year there would be some shading of this figure neces- sary.
 Earnings of S9,5OO,OOO are signfi- cant when compared with those of 1915. In 1915 earnings available for stock amounted to S3,5O0,00O and in 1914 only S3,400.000. on the TAT 900 shares outstanding Miami will prob- ably earn not less than SIP a share and the chances are that earnings may exceed this figure somewhat.
Arizona republican., 1916-12-17
FEDERAL RESERVE STATEMENT

FEDERAL RESERVE STATEMENT WASHINGTON. Dec. i6-Gains of nearly S25. 5.000.0 900 in net bank deposits and of more than sl0. 0.0O0. 900 in reserves by federal reserve banks during the past week are indicated by the boa rd' $ weekly statement mace public today The statement shows the banks cond- tion on December E. as follows:
 Resources
 Gold coin and certificates in vault. S2564iS.00
 Gold settlement fund. sl77.34l. .0O0 Gold redemption fund with United States treasurer Sl.543000
 Total gold reserve. ss35. 302, ,00O Legal tender notes, silver. etc, s. s07 900
 Total reserve. s44s. 900. Five per cent redemption fund against federal reserve bank notes. S420000
 Bills discounted and bought Maturities within 10 days. s23.Sl7.- 900
 From l to 90 days,S5l .307 GOO From 3l to so days s52. .lls.000. From sl to 90 days. $32.342 900. over 90 days sl,0s2,0 900
 Total, s160 666. .OO0
 Investments:
 United States bonds. s42.64S. 600. One-Near United States treasury notes. sil.167.O00.
 Municipal warrants. l1.195000 Total earnings assets. S225,67e. 900. Federal reserve notes. net, $l9.- j04000
 Due from federal reserve banks. net. $47.5S6.0 900.
 All other resources s4.656.000. Total resources. s74l, ,051 900.
 Liabilities
 Government deposits. s2s763.000 Member bank deposits. net, s643.- l36 GOO
 Federal reserve bank notes, net. sl2606. .O0O
 Federal reserve bank notes in circu- All other liabilities. sSl6.000. Total liabilities. $741.05l 900. Gold reserve against net deposits and note liabilities. 6S.3 per cent. Cash reserve against net deposit and note liabilities. 6a.6 per cent. Cash reserve against net deposit liabilities after setting aside 40 per cent gold reserve against aggregate net liabilities on federal reserve notes in circulation. TOP per cent.
Arizona republican., 1916-12-17
Arizona Properties

shannon Copper Co. has sold copper 10 the end of June, 1917. at 32 cents d pound. Only small portion of it's output was disposed of at this price. as the management believes that it is better to sell only a portion of it's out put SO far ahead. with copper prices still maintaining an upward tendency.
Arizona republican., 1916-12-17
Troy Arizona Copper

N. Y.-Roy G. Mead. superintendent of the Troy Arizona Copper Co. wired today that the inclined winze 1Ola by 10 feet on the Rattler group has been in sulphide ore all the way for 30 feet The assays average Az per cent cop per and S3 gold and silver values per ton or better than the average grade of the Rattler group which had been estimated at about 8 per cent copper and g. gold and silver
 The ore shoot is regarded as extend ing downward on the dip and is ex- pected to be encountered at depth by work now under way in the south croSScut. The company will shortly commence shaft sinking on the Climax group, and 2 men are working on the Climax road preparatory to hauling in heavy equipment.
Arizona republican., 1916-12-17
corn

Lessening chances of peace made ! the provision market sag. Close: Wheat May $l.625s; July, | S127. Corn. May. 91Ac; July, 91A C. 1 Oats. May, 527kc; July. 50Ac. Pork. ! Ian. S2690: May. S26.65. Lard Jan.
 sl6.00 May s16.05 Ribs, Jan. s13.70; 1 May SI4Q7
Arizona republican., 1916-12-17

s124g 800
 Total deposits s9SO Oss7. 100; increase. s4335 800
 Banks cash reserve in vaults. sl4.- iS6 500
 Trust companies cash reserve in vaults. $5s, ,592, 900.
Arizona republican., 1916-12-17
Over estimating the Value of Mine
 Machirerv

We have a communication from one of our readers in Arizona. which is in- teresting for what it suggests. He says:
 "l have for the past three years been devoting my time to improvements in rock drills My attention has been de- voted mostly to improvements of the wet drilling system. On one of my
 improvements patent has already
 been issued and on two others the pat - cnts are still pending. l have applied these improvements 10 one of the standard machines now on the market and can safely say that 1t increased
 the efficiency of this machine 50 per cent My idea of the proposition is to
 make. or have made, my own machine complete with the improvements built in. This would make a machine that
 would be far superior to anything on the market today. This I will be glad to demonstrate as soon as the patents pending are issued.
 What companies would you recom- mend to take this proposition up with. and what departments2
 and what departments?
 Our correspondents judgment of the
 worth of his invention may be justified We hope it is: and We shall be glad to put him in touch with any of our
 clientele who may have practical in- terest in the matter.
 Enthusiasm on the subject of rock
 drill improvements is. however. per ! ennial; and many have been the dis : appointments therefrom. What. for example. became of the famous D 2l stopers tor was it D A 2l's?). which were so widely heralded in the Cripple | Greek district a number of years ago ' Probably the scrap heap can best an
 swer Such fiascos, which are not un- | common. lead mine operators to lee | rather cautious about taking up i'm | proved devices" and it IS only after numerous local tests. successfully con- ! ducted. that d new drill. backed by first class manufacturing and sales ef- | fort. gets a real foothold in the mining | or contracting industries.-Mining and Engineering Journal
Arizona republican., 1916-12-17
S.75; yearl.ngs, s9.00m11.75.
 At St. Joseph

ST JOSEPH. Mo. Dec. 1e. - Hog receipts. 6e00; steady. Top. s10.20' bulk. s9.50G16.00
 Cattle receipts. leo; steady. Steers.
Arizona republican., 1916-12-17
The Freezing Point of Mercury

The Freezing Point of Mercury
 The Bureau of Standards has just
 completed very careful determination
 of the freezing point of mercury using platinum resistance thermometers to
 measure the temperature. The result of this work gives-3ss7 degrees C.
 t-37.9T degrees F) for this tempera-
 ture. lt Is interesting to note that as
 far back as 1862 the English govern
 mcnt- recognizing the importance of an accurate Knowledge of this point. appropriated G15O to have 1t deter mined. The value then obtained, - | 3s.S5 degrees C.-(-37 g degrees FD.
 !s in good agreement with that ob- tained at the bureau. However. other determinations made previous to and after this early work cast some doubt as to it's accuracy. IL can be seen that
 knowledge of the freezing point of
 mercury is of great importance to ther- | mometer makers as it marks the lower
 limit to which a mercurial thermometer , may be used and furnishes a method for calibrating or pointing the scale below 0 degrees C. j32 degrees FD. Often trimming ore cars underground before they leave the chutes or work ing faces will save considerable loss of ore in transit to the shaft IL will also | save part of the wages expended in cleaning tracks dftchas efc
Arizona republican., 1916-12-17
Copper

Predictions made by copper opti- mists some months ago that the metal would sell at 40 cents before the end
Arizona republican., 1916-12-17

(Continued on Page Eight
Arizona republican., 1916-12-17
Arizona Mining Notes

North Inspiration has been organ lled by mining men of the Michigan Copper company to take over twenty mining claims near Miami owned by P. r. Sullivan. who has done the as- sessment work on them for nine years The claims adjoin the Aspiration and Black Warrior properties and Q shaft will be started Immediately under the direction of II. V. Shell. mining en- glneer of Globe, formerly of Hancock. Michigan, and one Of the lessees of the Black Warrior. The officers are Willard J. Smith of Houghton, presi- dent; J. J. Sullivan of Calumet. vice. president, Bat Quello of Calumet. secretary y-treasurer; A. F. Peterman of Calumet NJ. w. Goldsworthy of Hancock. Maurice Bandetinni of Calu- met and H. V. Schnell, the remaining directors.
Arizona republican., 1916-12-17

The California mining district situ- ated on the east slope of the Chiri- cuahuas is taking activity again after