The Market and the Mines I
Other districts may have equally Interesting
subjects for raining speculation, but none seems
able to compete with Tintic in attracting and
' holding the attention of the traders on 'change.
The advantage of the Juab county camp in this
respect has been the more pronounced since some
of Tintic's leading issues have been introduced to
the New York curb. It was not always so. Tin
tic did not gain the kingship of the pit without
a struggle. A few years ago, the market was led,
sometimes by Park City, sometimes by Alta, some
times by Bingham. Jt is only within the last
twelve months that a stock has had no standing in
the betting ring unless It bore the Tintic im
print. This bias is due undoubtedly to the sen
sational performances of Colorado Mining and
f Sioux Con. If there is one maxim that the spec
" ulating public emphatically disbelieves it is the
saying that "lightning never strikes twice in the
same place." That public acts on the theory that
the rose which once has blown forever continues
to blow; that the horse which wins one race must
win them all; that lightning, once having found
a satisfactory place to strike, Is bound to use that
place as a punching bag.
V fcT (?V
And Tintic well, Tintic is trying to live up
to its reputation. Everyone down there does what
ho can to keep the ball moving. Last week it
was the East Tintic Development company to the
front with a strike and the traditional mise en
scene a cave, mineralized boulders and an ore
body. Everything indicated and still indicates
a discovery of magnitude. The ore body at
last accounts was ten feet in width and the per
centage of lead was high. The development oc
curred at a depth of 230 feet. The East Tintic
Development company owns only a handful of
ground about six acres and its neighbors, the
Eureka Lily and the Tintic Standard, are eagerly
figuring on how long it will take the new shoot
to run through that and appear in contiguous
claims. Th" Development company's find seems
to be a mineralized zone which makes it of the
more importance from a mining standpoint.
& &
As this letter is written the Utah Consolidated
(of Tintic) is showing a disposition to take up the
work of the Tintic Development company and
push it along the work, that is, of keeping the
camp in the limelight and its stocks on the firing
line of the exchange. In such a good cause the
Utah Con. Is perfectly willing to stand for rumors
of strikes on the 300 or any other old level of its
workings. About the only basis for these rumors,
apparently, is a favorable change in the character
of the rock on the third level, and an increasing
quantity of iron in the face of the drift. The sit
uation of Utah Con. is very much like that of
Beck Tunnel. In drifting east from the Beck
shaft on the 1,100 level they liave found "favor
able rock," "ore making formation," "excellent
indications," "promising outlooks" everything, in
fact, save pay ore. Now the Beck Tunnel has
started a drift to the west on the same level. Be
fore the interest in the East Tintic Development
dies out either or both the Utah Con. and Beck
may be in a position to furnish the camp's weekly
strike.
1&V 6fl fjfr
The listing of the Ohio Copper company on the
local exchange adds strength to the exchange
whether it helps Ohio Copper or not. The weak
point on the exchange list is "coppers." Boston
and New York have euchred it out of the leading
Bingham issues and the many Salt Lakers who
turn an honest penny now and then in the copper
market have been obliged to do their trading by
telegraph and pay commission to eastern brokers. H
"With Ohio as a starter we ought to be able to H
round up two or three gilt-edged cuprlc offerings !
that would give the local copper speculators a EH
chance to turn their money over without paying H
a penny of tribute to the telegraph, companies. H
The statement made by the Ohio to the listing
committee is very satisfying. It sets folks to II
wondering why the rise in Ohio shares, which 91
took place a couple of weeks ago, was so long de- M
layed. l
5 yv tffi 11
Following Ohio into the exchange fold come II
the East Crown Point Consolidated Mining com- 31
pany and the Southern Pacific Gold and Copper II
Mining and Milling company, dragging their II
names behind them. If the talent can be con- II
vinced that a good name is rather to be chosen l
than great riches the new arrivals should be in 11
great demand. They may produce the riches in Vm
time, but at present they are mere prospects with II
spurs yet to be won. Some friend of the exchange 31
should call its attention to the heterogenous char- jl
acter of its list, as now made up. Big mines, little 31
mines, near mines, producing prospects, non-pro- I
duclng prospects and prospects that have no pros- jl
pects at all, are bunched together in a most con- ll
fusing way. Graduates In the mining game can II
figure out where the various issues stand, but II
the freshman studies it In vain. At the very least l
the exchange list should be divided into mines I
and prospects. In addition to the convenience of I
the classification the wrath of the disgruntled own- I
ers of prospects who like to talk of them as jl
"mines," would bring joy to the hoi polloi and jl
furnish excitement for the' listing committee. !l
& & s H
Inasmuch as snowslides have seriously inter- I
ferred with mining operations in some parts of I
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