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Smyrna times., 1931-05-13
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Smyrna times., 1931-05-13
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Whalprs estimate that the aver
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Smyrna times., 1931-05-13

Entered at the Post Office at Smyrna, Del
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Subscription price, s1.5o per year. strictly
In advance.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

SEND A CONTRIBUTION TO
THE sUNBURsT BADGER
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15
Mining Industry Faces
Boom, Porter Belief

applications licenses 70 sell mining
coming accompanied b. inquiries
George Porter state auditor commissioner Of invest
ents mining actlvig gaining momentum IN the
state sOcalicd "bine sky lmN, amended
By the last Legislature governs Of the stock Mr.
Porter said mining seeking infornaation
gardng
MANY inquiries have from eastern men, which in-
dcates according eastern capital may be
employed in Opening which closed 80 40
ago. properties closed that time he explained not
because operators exhausted the supply Of bat on account
o. the drop In price Of silver n 1898.
Properties consideration those calling AZ Mr.
porte office Helena Bate, he saAd chiefly
A. the vicinity Corbin Wices and Basin ard IN Butte
rsssern capital Mr Porter win be grea benct
IN re-Opening the mines.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15
W
row I'M New HANDS

Townsend. Ang. 15-The Iowa
Saontana Mining company has
been reorganized and taken over
BY DIR Buisson and associates.
The properly consists Of ~
quartz claims and min site,
which is located about two and
half miles northwest Of Town
send and easily accessible over
good automobile road. The veins
are q series Of quarta leads car
ryinw gold in considerable auan.
ttty and = small amount o. slE-
YER
The surface showinga are veFy
promising and shouId the value
Of che guild hold out wish depthl
IL sh0mzd prove % be . valuable
ps0perty. The country rock II
. shage Oh the Belt series lntxssz-
I'd By a ligiat coEored porphyry
The Iocation Is excellent, being
wlthim two and half miles Of
the Northern Pacifsc railroad
and the Missouri river. Eimaineers
WIN arrive ID . short time 20
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15
LARGE Sun is
SPENT On NEW
IDAHO PROJECT

spokane. wash. August ST.
The great projects Of the Yell
low pine company, a Fred W.
bradley enterprise in Valley cOun-
IT, Idaho, are advancing steadily
and increasing in Importance as
they proceed. according to
George snow, metaliurgist engi-
neer. In his annual report for
tss0.stewart Campbell state
mine inspector says: This COM
uany has inaugurated one Of the
largest mine development cam
paigns ever undertaken in the
state. and the expenditures indi-
cate that a new mining district
Of magnitude is being establish
ed.
Mr.. Snow said he saw ball
min on 8 fiat car at Cascade for
the yellow Pine company when
he came out several days ago.
'The plant Of which It will be
a part win Include flotation. Il
WIN be Of $50 tons daily capac-
ity and is referred to as pilot
mill, he said yesterday
-Two tunnels that win be out-
let's tor ore are advancing ia OPP
posIte Nils and away from each
other but their portals are but
asa feet apart and on the same
horizon, 30 both may be aerv-
ed BY the same motive pswer
one Of the tunnels. 10 be 10000
feet long, has been driven Tor a
hair OF that distance, I heard
and win attain a depth Of 1890
feet below the upper WORKINGS
1T Is referred 70 Locally as
the niCnabar tunnel because Gin
nabaf crops above IT. I heard
that several gold-bearipg veins
had been cut The other tAnnel
Is for the development Of gold
and ankimonlaA ore.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

the Pritchard and lower Burke.
the same formations In which
naturalization occurs Ia tho
Occur d'Alenes The ore bodies
are apparently more accessible
here than they originally we're IN
that area. 0laciation has re-
moved q great amount Of the oy-
erburden which remains in the
Occur d'Aiene country.
This VIII obviate the neces-
sity OF doing expensive mining for
sometime. In addition the ore
averages slightly higher than that
OF the Occur d'Alene district and
contains less iron. which will "a
cIlitats smelling Of the ore. Tho
crystalline structure Of the ma
iority Of the minerals Is larger.
which win require less grinding
to release metals than is neees-
sary with ore from the Idaho
mines
Ore va1ues
"Ore from the snowstorm
mine averaged 1a.4 per cent Of
lead. s ounces Of silver, .04 Of
an ounce Of gold and per cent
zine. The Big -Four property Is
apparently on a continuation Of
vein developed BY the snow
storm and Big Eight mines. I'M
limited quantities OF ore may be
removed from this property Al
comparatively low depth since
the ore body Is much longer than
any found in the cousr dAlenes.
In the opinion Of 8. p. Hobart
mining engineer for the Troy
Mines company This area win IA
the future prove 20 be one OF the
greatest mining districts in the
northwest.
Company Officers
Officers OF the Big -Four
Mining company, which recently
moved iss offices to Kallspell.
are:
&C. a. Smith, Troy, president:
e @ B1orneby, KaIispell, vice
president; James X. Lang, KaIis-
peiI. OBSERVATION-DISCLOSURES. and W.
p. Macdonald. T. G. Hand. Geo.
F. stannard. an Of Kalispen. and
d. s Billet o. East Helena. d.
rectors.n
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

About two per cent nickei sill
iclde ie diasoIs@a IN molten cop
per The mixtnre Is then east.
in extremely delicate shape II de-
sired. The casting Is heated 70
a high Temperature and quench-
tContinned Oh rans EighD
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

Montana was third among the states
IN shs production Of silver during 1880.
and sixth in gold production.
Utah led Ia silver production with
144B1 2oe ounces valued at s5,0eS, 7ss Ida
ho. 0710,150 ounces valued at $3.50, 4O6,
and Montana, s,50e0e6 ounces, $500 ss2
Gold production increased during the
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

'Formations wlth which this
area q minsraliaea are known as
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

HARDENING Is
SCIENCE GOAL

BUTTE. Aug. lS.--fsx-
quisltely designed. yet Inn
pcrvious 20 scratching or
bending. = new kind Of jew
elry and silvrrware h en-
visioned b. snetaIlurgists az
the sIontana school Of Mines.
Research workers at the Butte
technical college recently attain
ed scientific prominence BY their
successful hardening Of copper
through the precipitation process,
with the addition Of about two per
cent nickel silicide. The result
ing alloy was nearly twice as
strong as structural steel. but
stin retained me essential char
aeteristics Of copper.
Metal Changed
with such tremendous hard
ness and strength the newly de-
veioped copper alloy showed ex-
traordinary ability to take the
most delicate casting and ma
Ginning.
The combination Of these fac
tors used in copper when applied
to precious metals should result
In ieweiry which is as strong as
II is beautiful. silverware which
Is smpervious 10 scFatching de-
spite lts delicate design. accord
ing 10 DR.. Curtis L. Wilson, head
Of the metallurgy department
Research starts
The actual research work IN
the hardening Of silver and 9th
er precious metals viii be begun
next fan at the Montana school
OF Mines under direction Of d..
Wilson. The Investigation Of
copper viii likewise be continued,
with the emphasis being placed
upon commercializing the process
already discovered.
eAs a result Of orr success
with copper. we have already
received many Inquiries as 10
whether some process could not
likewise be devised for the hard
enin9 of other non-ferrons metals.
such as silver, gold and plati-
num-. says DR. Wils0m
sanie Principles
1--WE believe. since this copper
hardening process Is based on
lsound fundamental principles
which are well understood he
continued, ''that such hardening
Of other metals is simply the
next logical step The underly-
ing principles are exactly the
same"
Briefly the e0pperhardening
process. whsch research msn con-
slider undoubtedly applicable to
other metals. Is as follows:
Simple Kar0es
About two per cent nickel sill
iclde ie diasoIs@a IN molten cop
per. The mixtnre 10 then east
in extremely delicate shape II de-
sired. The casting rs heated to
high Temperature and quench-
tcontinsed o. raes EighD
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15
Early Development
ii Large Ore Body
Planned By Group
AdjOins Noted Sn0wstOrm Property With
Production Record Of 100000
Tons OF Ore

Development of the Big Four mining
property six miles northwest of Troy IN
northwestern Montana has been taken over
by a Montana syndicate with the prospect
that big-scale operations may be expected
at the property as soon as metal prices re-
turn to normal
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15
600 DIVIDEND
PAID BY TO- REED

Tom Red Gold Mines COM
pany has paid another divi-
dend Of SEQ, 600. or s cents
per share. duplicating
similar paynnemt made tn
aprn.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

turn TO normal.
A history OF the project and
s summary Of plans is contained
ia the following, from the pen
Of H. J. Kelly in the "Flathead
Monitor" OF KalispelI
In Proven District
The Big Four property Is To-
GATED about six miles northwest
OF Troy. which is a proven min
ing district. The area has been
intruded by two parallel bikes
carrying veins Of lead and zinc
snlphide with gold and silver
The most southeriy Of these
two bikes has been opened 70
varying depths by eight mining
eonspanies over a distance Of APP
proxImately six miles and each
OF the mines show exceptional
ore deposits. The second Of the
two dikes has been opened and
thoroughiy proven by the FAM
ous snowstorm mine. II is on
this dixie that the Big Four prop
erty Is located.
Large Ore Bodies
workings OF the Snowstorm
mines, which we're opened IN
1916. show concluslvely the all
most unlimited quantity OF val
liable ore.
During that time the SNOW
storm mine produced 100000 tons
Of ore all from the center vein
Of the three within the dixie
Located between dixie and the
country rock the contact vein has
been proven to be even larger
Than the middle vein. This mine
was shut down in 1927 when
the concentrator burned
Ad30fns snowstorm
Veins have been definitely
traced to the Big Four property.
which Joins the sncwstorm on
the south. At that boundary
there ia fault which has carried
the dike down the creek IN a
southeastmly direction.
SIT Is on this displaced vein
that the Big -Four mine is iocat-
ed. This maine was operated at
the same time as the snowstorm
and has produced many thousand
tons Of ore.
Property ON Dixie.
"Propsrtg owned by the Bis
-Four Is located IN sections 1s
and IS in township SIN, range
35w and contains eight claims.
The dixie containing the three
veins Of ore runs through the
middle Of the property, except
for the displaced segment which
lies to the east.
Approximately 5000 feet OF
the claim is upon the dixie. Harry
CobbIedick discoverer Of this por-
ton OF fha vein. mas in the last
rs years. traced the vein about
two miles north. lying on the Big
-Four property In tracing he
has driven about 1000 feet Of
tunnel. showing the contact vein
to be the largest.
Bic Four Accessible
This claim Is ideally located
It lies between two creeks. and
the south end Of the claim has
access to the extension Of the
narrow gauge rail-
road. From the north end OF the
lain Yr~v fsaw he reached Nv
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-08-15

hsymonI4e is used % furnish Iitfia'
valuable in the nnanufactnFr %
eoes drinks and carbonated VISIT
ers.
Custer. s. D., Aug. HS--An
aese o. tlne As plants owned BY
enc Consolidated Company, which
has its oefices as Preston, y ,.
0pernel0ns sire bcgng carried en-
- hours q day
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
PRICES OF GASOLINE
PURCHASERS, RAISED
BY the Associated Press.

BY the Associated Press
TULSA. Okla, July 24-New strength
was added to the mid-continent crude
oil market today as four more ma
purchasers revised their prices upward.
The Texas Co., the largest of the So
called independents. posted prices rep
resenting an advance of from 18 to IS
cents barrel in Oklahoma, North Cen
trail Texas and North Louisiana. The
company's new prices in these fields are
IS cents a barrel for oil of below 36
gravity and 40 cents for oil testing So
gravity and above.
The Barnsdall Refining Co. an
nounced fat price of 40 cents a bar
rel for Kansas oil. The company. one
of the few that failed to meet the 10
to-22-cent scale that became general
recently, retains its former schedule of
rs to 81 cents barrel in Oklahoma.
The Skelly Oil Co. posted fiat prices
OF 35 and 40 cents barrel in Kansas.
adopting the 36-gravity test as the di-
v1ding line between the two prices. The
company buys between 1900 and 49,
coo barrels daily in Kansas. It pur-
chases in no other State.
The Cushing Refining g. Gasoline
Co. posted a fiat price Of 40 cents a
barrel. 1t had been paying 25 to 81
cents.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
Trade Trends
BY the Associated Press.

BY the Associated Press.
Cotton.-Present indications point to
a full production of cotton in various
foreign cotton-g growing countries, ac-
cording to adviceS from Liverpool to
the New York Cotton Exchange Service.
Argentina reports that the outturn in
the province of Santafe has exceeded
expectations and that there is short
age of pickers. Brazil reports that the
crop of the state of Pernambuco Is
large and the production of the state
of Sac Paulo is estimated at around
10000 bales against $4,000 last year.
Food Prices.-BradStreet weekly food
index has turned upward and registers
a slight gain, four tenths of per cent,
over the previous week. AS compared
with a month ago this weeks number
shows an increase of IA per cent, but
is still Is per cent below the like week
Of last year. This weeks index number
is $2.19. Weekly price changes in Brad
that 18 were higher than last week, Is
were lower and 81 remained unchanged
Furniture.-A limited number of
orders for furniture for August sales
purposes provided the only activity in
the New York wholesale furniture mar
ket this week JobberS and selling
aSSHtS IIldI OIUcIS uS-
clined between 80 and 35 per cent from
the peak reached last week, but pre-
dicted buying would resume after the
first of the month.
Hides-An analysis by the New York
Hide Exchange shows that the con-
sumption Of cattle hides, including kips,
during the first five months this year
exceeded the movement into sight by
1.153,000 hides. The visible stocks of
all cattle hides and cattle hide leather,
including kips, declined steadily during
the first five months of this year and
at the end of May amounted to 1904
coo hides, compared with 16,662.000 on
December 81 last and 16,236,000 May
81, 1880. Stocks on hand May 81 this
year were at the lowest May level since
1927.
Silver.-Bar silver continued weak in
the primary markets Thursday, sagg!ng
an eighth Of a cent in New York to
275s cents an ounce, and sixteenth
Of penny in London to II 1916 pence.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
BOND PRICES DROP
IN SMALL MARKET
Traders Believe Conference
Did Little to Solve Ger
man Credit Crisis. !.
BY F. H. RICHARDSON.

Special Dispatch to The Star.
NEW YORK, July 24.-Bonds were
quiet and lower today.
The final results of the London seven
power conference, in the Wall Street
view, were somewhat disappointing
Feeling was that the conference had
left the German crisis to solve itself.
Continental markets were lower before
New York opened and this was re-
f1ected In the prices of both domestic
and foreign bonds.
German Government SIS were off a
point early and Dawes Preparations rs
lost more than 2 points. In both cases
the losses were recovered, but the tone
was weak and it was evident that
neither spectators nor investors could
be enticed into the market for foreign
dollar securities. German industrials
about 2 points. Municipals like Berlin
6Rs were of a similar amount.
DeutSche Bank IS Sagged Az points
on the sale of few bonds
Argetine IS were to 8 points lower
While the revolution was reported sup
pressed and quiet restored. advices from
Buenos Aires reported anything but DO
litical stability in the country. This, to-
gethsr with the prospect of a large
national deficit and weakness in Ar
gentine exchange, was sufficient to I'M
settle the market for the bonds. Other
South Americans were also weak.
Australian bonds moved higher. Lon
don opinion has now veered around to
the view that Australian affairs are
on the mend and that New South Wales
will shortly resume responsibility for
her external debts. 1t will be recalled
that the state defaulted on its bonds
some time ago and that the common
wealth assumed service on them. While
wheat prices are at record lows, new
activity in the wool trade is beneficial
to Australia.
AS for domestic issues, the chief con-
sideration here was the inactivity in
other securities. Railroad bonds in
some cases were narrowly higher. Wall
Street heard that the fire insurance
companies were in the market for sec
ond-graoe carrier bonds. This would
argue that influential quarters are con-
WINGED that the roads will be granted
some freight rate increase
Industrials such as Goodyear IS
Dodge Brothers IS and McKesson &:
Robbins 5i2s we're firm or a shade low
er. International Match IS were sub
stantially lower. The company's MANY
loans to European governments are re-
garded as depressing factor just now
and there has been heavy selling in
London of the stock ard the allied equi-
ties of Kreuger & Toll and Swedish
Match.
High-grade issues were firm. There
was a total of over S37,O00,00 Of new
offerings.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
BRITAIN PROTECTS GOLD SUPPLIES
THROUGH INCREASED BANK RATE
Recent Losses of Metal by London Institu-
ton Resulted In Weakness of Pound
Sterling-Efect of Change.
ers for long have maintained enormous

ers for long have maintained enormous
balances in London, which is also the
clearing house for all nations. Dis
turbance to financial equilibrium and
nervousness over credit naturally az
ftcts London first of all and most Sc
verely. Credit is not being withdrawn
because London bank safety is doubted.
out rather because with the exception
OF France) Withdrawing nations need
more OF their funds at home In the
same way small bank will sell It's in
vestments to provide hard cash when
it fears run by depositors.
Bank OF England has lost nearly
500 100000 in gold in the past two
weeks. Most of it has gone to France
because the French were in a position
to buy on the weakness of sterling.
American banks also could profitably
ship in gold from London, but they
nave refrained because they did not
wish to embarrass the British by
causing them to put up money rates.
A higher Bank of England discount
rate increases the cost of London S
great credit reserves and automat ically
lifts money interest rates all around
This tends to attract foreign funds. or
at least to hold in London the money
already there. Should the present rise
be ineffective, doubtless the Bank of
England will stiffen the money market
by selling securities and follow this
with another increase in the discount
rate.
Bank Of England Statement.
This weeks statement of the Bank of
England shows net loss of El5,l55.-
600 in gold and a decline in the reserve
ratio of bullion to circulation from 81 2
per cent to 40 per cent. The Bank OF
England considers E150,00O.00O as the
minimum gold reserve which should be
held and with further large shipments
of gold in sight was forced to lift the
discount rate.
Sterling has dropped to about $484
to the pound. The Bank of England
will always give gold bullion in fixed
amount for fixed amount of British
currency. When sterling falls in rela-
ton to other currencies. any one wish
ing to transfer balances can take the
sum of his London balance buy gold
ship it to his own country and turn
il into home currency in an amount
greater than that which he could have
obtained had he made a cable transfer
in the usual way.
Copyright, 1879
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
Brokers' Comment

NEW YORK, July 24-Many brokers
believe domestic news will now receive
more consideration from the stock mar
ket. The immediate topic of interest
is the United States Steel dividend next
Tuesday. Comments follow:
E. F. Hutton e. Co.-The kneynote
of the current situation is the hope
that earnings in the third quarter will
be better than now seems likely. Mar
I ketwise there is likewise hope that at
least some degree of seasonal improve
ment in prices will soon get under way.
Traders are hoping that the current
dizziness will prove to have been an ac-
emulation area in accord with general
ideas re dull markets.
Paine Webber-The important cues
ton is whether the market is ready to
initiate a general sure-fire advance
from this point. We believe the an
swer will come within the next few
days, the Steel meeting of next Tues
day being the crucial date. Until this
news is out Of the way important posi-
tions are unlikely to be initiated. After
that date, with second quarterly re-
ports absorbed and foreign news less
tense, the market will be in a position,
if that is its intention, to start the
process of ~discounting whatever better
ment the Fall may contain.
Ousick Kent-The possibility of fur
Their discussion in Berlin by represent
atives of the leading powers should fur
Their expedite the ultimate settlement.
We feel therefore, that the crucial mo-
ment is passed in the foreign situation.
Jackson Bros. Boesel & Co.-For the
immediate future we feel that interest
in the foreign situation will be sup
planted to a large extent by specula-
ton as to the probable dividend action
of United States Steel directors at their
meeting scheduled for next Tuesday.
Smith, Graham & Rockwell-The out
look at the moment holds little encour-
agement to buy stocks.
Redmond & Co-While the recent
action of the market in the face Of I'M
favorable news has been a source Of
some encouragement, we believe 1t Is
| too early to state that the danger of
further sharp recession in prices has
| been entirely eliminated. It is probable
that the market will drift around in
narrow trading area until after the
| United States Steel meeting next Tues
day. If the regular dividend is declared,
! brisk rally is possible: but we under
stand there is a strong possibility that
| it may be cut.
Shields d Co.-The market still faces
the test of heavy pressure, and at the
| moment leading professionals show no
| interest III trading In the absence Of
any important news. continuance OF
verv dull. meaningless market Is to be
expected pending some definite knowl-
edge as to what action the steel direc-
! tors will take.
Nearly 1000 Of the 5000 pupils re-
Gently examined in Manila, Philippine
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
SHOE CONTRACTS AWARDED.

PHILADELPHIA, July "a (P).-The
Army quartermaster's depot today an
nounced the award of contract for
s3,67S pairs of service shoes to the
Brown Shoe Co.. Inc of st. Louis, for
S2.44la per pair net. A contract for
l63,o28 pairs of garrison shoes was
awarded to the Joseph M. Herman Shoe
Co., Boston, for 1929 per pair, one
quarter of per cent for 10 days.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
PARIS BOURSE PRICES.

PARIS, July "a (P).-!Three per cent
rentes, 81 francs 40 centimes. Five
per cent loan, 103 francs, 80 centimes.
Exchange on London, 1913 francs 80
centimes. The dollar was quoted at Is
francs 54 centimes.