Newspaper Page Text
GOODWIN'S WEEKLY. 13 ilfl
The Market and the Mines
Ir pad of a remote contingency the removal
of th smelters from Murray and Bingham June-
I Uon w seems an Imminent probability and it
is br proper and timely to consider the effect
this mse wM have on local conditions. The
initio e will be taken by the Utah Con., which
has, Is stated, authorized Manager Channing
to lit UP a new location for the plant. Pre
cipit. action is not anticipated. There will be
n0 st nious objections to the operation of the
coppt smelters during the winter and the works
I which reat non-sulphurous ore not affected bv
the o r of the United States court, which fixed
10 pc ( ent sulphur and arsenic as the proportion
at wh o damage begins. In fact there is no legal
reason why the American plant should not con-
i tinue t handle silver-lead and gold ore at Mur
ray indefinitely. The removal of the latter will
be dm to economic considerations such as the
advant ises of concentration and the profit to be
derived from creating land values.
j & i?
Whilo the expense of removal will be consid
erable the smelting companies will be in a posi
tion to leimburse themselves. With the money
they receive from their present real estate hold
ings they can buy large tracts of land now com
paratively worthless This land will become
more and more valuable as Industrial communi-
: ties spiing around the new smelters. By selling,
renting or leasing it the companies will get back
much of the money they have expended, not to
mention the saving of thousands of dollars here
tofore paid to the farmers In settlement of dam
ago suits
t J
As for the farmers, those who have depended
for a livelihood on the industrious cultivation of
legal claims, will be up against it, but the rest.
1 will, it is to be hoped, have more success with
their fiuit and vegetables. They need not worry
over the loss of their market at Murray for the
Salt Lake people will buy all and more than tfll
they can produce. The merchants of Murray and
Bingham Junction may be compelled to follow the
smelters, but this will involve no great loss, The
man who stands to get the lemon is the man
who owns real estate in the valley smelter towns.
Realty prices and rents are sure to fall. They
may iise again with the growth of Salt Lake. At
this moment, however, there is no compensation
in sight for the Murray landlord. His cue Is to
get bus and offer inducements to manufacturing
enterprises which may be made a substitute for
the smelters. And Salt Lake should help him.
tv v cv
While the valley smelters are in this unsettled
condition a syndicate of mining and smelting men
Is maldng haste to provide the Tintic district
with facilities which will insure the uninterrupted
operation of its mines. Charles W. Nibley, Jesse
Knight h H. Rolapp, John Pingree, David Ec-
cles, c E Loose and Bela Kadish are behind the
enterpiise The company Is incorporated tor
H 50J and is christened "The Tintic Smelting
Co" 't piomises to begin operations within
eight or ton months and will accept ores from
any somce up to the limit of its capacity.
& & &
Tli, active buying of Carlsa at ?1 and better
Per -hue meant, It developed within the past
week Bamberger. In the reorganization of the
dllec ate, which took place Monday, Harry Jo-
8ePh i opped out and Sidney M. Bamberger whs
nani( , ag manager. H. G. McMillan succeeds J.
E G her as president; Henry Newell becomes
ce 'sldent and E B Crltchlow secretary and
H reah Pr ThQ purchage of stock whIch mad0
wis h.mge possible was made v 3torn cap
italists acting upon the adyice of the Bambergers.
The stockholders wore satisfied to sell as they
secured a profit of several hundred per cent on
their investment.
& & &
Much as the writer likes to credit Utah and
the Salt Lake valley with every conceivable nat
ural resource from diamonds to cocoanuts, .he Is
unable to find any reasonable basis for the opti
mism of the local daily which asserts that the
Guffey & Galey drilling operations at Farmington
gave indications of oil. The truth Is that the ex
periment demonstrated the absence of oil in com
mercial quantities. There is not the slightest
reason to believe that the Pittsburg oil men
abandoned the field for any reason but that which
was given at the time the lack of promising de
velopments, while the well was being put down
2,000 feet. But Guffey & Galey did find a strong
flow of gas. Their success in this direction has
encouraged those who make a specialty of gas
instead of oil, to turn their attention to Utah.
F. L. Epps, an experienced gas man, has tied up
60,000 acres of land on the east shore ot the lake
and has received instructions fiom his eastern
principals to begin drilling. His efforts will be
followed with interest and with no small degree
of confidence by local spectators.
V W
Strikes on the Eagle's Nest and the Hailstone
at Fairvlew have brought much comfort to the
Salt Lakers who have placed their money pn that
camp. The Eagle's Nest discovery was made in
the shaft at a depth of 42 feet. The lode is two
feet wide and an average assay returned $180.26
a ton. The ore in the Hailstone Is of high value, .
but it has not yet been found in place. As the
depth of the shaft is only about 48 teet there is
1 lonty of timo for it to concentrate in one of
those strong lodges for which Fairvlew is becom
ing famous.
& & & j
For a property that UBed to monopolize tho
front pages of the newspapers the Majestic at '
Beaver has been remarkably quiet of late, so I'hH
quiet that the public has only lately been in- iflfB
formed that the mines were paying running ex- 1 jfijH
penses and had been doing so since July 1. The .' ii
money is coming from the Old Hickory and O. K. fjj
claims. The former is turning out a car of ore 'n fl
a day and the latter is producing a car weekly. , '-vl
Beside moetlng the expense of its extraction the ' fl
ore is paying for prospecting and development . ' JH
work in the unproductive portions of the property ' : IT
and the Majestic Is in a fair way to recover from ,T H
the effects of the mismanagement and extrava- f ,
gance which put it to the bad. t ,:
L I
By the time this is in typo the Daly-Judge dl- . '$
rectors will, in all probability, have declared the ' ' "jfl
promised dividend. That it will be 30 centB a ? Ull
sharo is assured; that it will be more is antiol- I " r !
pated In some quarters. In either case It will be . I 'I'fM
no strain on the resources of the company which . jJB
has $300,000 in the treasury and is adding to its " "ff
Surplus at the rate of $60,000 a month ' , J jfl
DR. BROADBENT'S l' " 4
: r4m
Dental Office. 500 Scott Bldg., 168 Main St. .' ft
WALKER BROS. i
BANKERS 1 M
: : :'l
A General Banking Business Transacted. ( j I 4
Safety Deposit Boxes For Rent. ' ' 9
Established I860. SALT LAKE OITY, UTAH ,--
i h M
1 iM
A GAS WATER HEATER '' M
Attached to your present kitchen boiler will give enough ?" "r
hot water for a bath at a cost of about three centi u n n ', "'"'JiH
Don't forget tfiat with a GAS RANGE In your house you , - ,jjH
can sleep an hour later In the morning. We supply the ,j t H
bet makes of each and would be glad to talk It over with you. i H
Call 'phone 777 or drop ui a postal We are at your service. H
UTAH LIGHT & RAILWAY CO. M
Gas Department No. 9 S. Main St. , (fl
These tor a; few Xmas reminders: Cigars, - 1 .9
which bespeak true friendship: table wines, egg- 1 jfl
nog ingredients, brandy for the r ting, and tin ' 9 JH
whole alphabet of bottled 'liquids tor present mak- .9
ing. --. it jfl
RIEGBR & LXIpLlDY, ij U
' Whisky Merchants. , . ?fl
" " ' ' ii ifl
sl
,
! ! : "
Factory: - Ind. Pltonc 930
57 East Third South Jh Z? iflhcs Pricc f M
Five Doors West jpflBBy BsS Paid for !(
ol Store m iC Raw Furs g
R. STENZEL FUR OX ) 1
79 EAST 'THIRD SOUTH CORNER STATE STREET
i!
Manufacturers of Fin( Furs and Taxidermists Vx in jour furs for remodeling repairniK redeing . H
. ' and cleniiinx Select )our furs nntl we will lay thttn jl
aside for you uitil Dicember loth without any deposit Verj larj-e stock. Low prices. .
il i njl
1H
