The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1921-05-05
AROUND THE Mines

The Salna Canyon Coal company,
with a capital stock of $4,000, divided
into 100000 shares of valus of 20
cents each has filed articles Of incor-
poration at Salt Lake.
Progress of the shale industry is re-
| ported in the Colorado School of Mines
Quarterly for April. The results Of re-
| ductiOn experiments in Utah, Wyom-
ing, Colorado and Nevada are dis
cussed h&s@
The sixteenth annual report of the
Utah Copper company shows the net
profit for 1920 operations was $4,924,-
49S, equivalent to $500 per share be-
fore taxes, compared with $5O8 per
share in 1919 and SLIGO per share in
1918.
The last ore treated at the Mac
Namara mill prior to suspending
operation was small lot Of $500
pounds of ore from the holdings OF
]. C.tTognoni at Silvertoi which re-
turned $179 gross, says Tonopah dis
patch.
Within the past two weeks leasing
has received noted impetus in the
Cripple Greek district, as terms are
now more liberal, costs decreased, and
returning miners more disposed to take
chance at leasing than to work for
days pay.
The Louisiana Consolidated Mining
Company, with liabilities of $5OOOOO
and assets undetermined, has passed
into the hands of receiver. The
company was formed several years ago
to operate mines and smelter at
Typo, Nevada.
The Western States Oil and Land
company, subsidiary of the Midwest,
has spudded in its third well on Soap
Creek, in Montana. The No. 3 well
is about one half mile southeast OF
the Pioneer, which flows $50 barrels
without pump.
De Beque, at the center of Colorado's
oil shale region, reports d record price
for oil shale acreage, that $40 an acre
net has been paid J. H. Hardison for
1920 acres on Clear creek by the
United Shale corporation of New York,
represented by H. Clarkson OF New
York.
The naturalization In the Prince
Consolidated shaft near Phoebe, New, is
proving to be extensive, according to
information received from the mine.
Already the ore bed struck near the
200 level has been pierced by the shaft
for ten feet without encountering any
footwall.
Shale lands of great value, situated
near Soldier Summit, are likely to re-
vert to the government unless the 500
worth Of assessment work necessary
for the holding of placer mining claims
is done by the first Of July Of this
year, according to J. B. Jensen, Salt
Lake shale engineer. esa
Work will commence at once at the
molybdenum strike in the Sawtooth
mountain, fifty-five miles west OF
Delta, Utah. The mining claim is
owned by r. II. Evans, P. NJ. Purdy
and others who are preparing to have
six or eight miners engaged in the
prospecting work in few days.
Work is to be resumed at the Wood
lawn. A force of miners, it is planned,
will start for the property in Big Cot
tonwood canyon next week. Work will
be started on the 7O0-foot level, where
only few shots should be necessary
to break into the fissure which carried
good vein of ore on the 6O0-foot level.
J. B. Witt, lessee in the Florence
Goldfield, has struck it rich again
after searching industriously for 1--WE
months to discover a rich lead which
yielded many specimens having fabu-
lous values. Last week he announced
that he was confident that he was in
the gold shoot for which he had been
driving.
Important discoveries have been
made during the last few days at the
Ophir Silver Mines company's proper
ty, situated in the Ophir district, in
Utah. Recently upon breaking into
Buckhorn fissure No. 2 face of ore
which averaged eleven ounces of
silver to the ton was opened up.
Latest reports show the values are I'M
proving.
For some time past the chief source
of income of the American Smelling
and Refining company says the Boston
News Bureau, has been from the sale.
of its silver secured from domestic
ores as the United States mint pays
81 an ounce for all such product. No
more than the open market quotation
of around 90 cents an ounce can be
secured for foreign" silver.
In New York copper liz discussed OPP
timistically, especially the shares Of
red metal producing companies. This
optimism, however, is seemingly based
on nothing more than the fact that
copper stocks are selling at an abb
normally low price and that the in
weston who can afford to hold them
e., - T. A. -