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Hl 4 . GOODWIN'S WEEKLY. ' I - H When you are ready to consider H the selection of a Talking Machine, H i do not fail to hear the H Victi olas H Clark's H We have all the records of the H World's Greatest Artists and deal H in Victrolas and Records exclu- H sively. Come in and let us enter- H tain you. John Elliott Clark Co. ' 1 50 So. Main St. Phone W. 3275 - ' H' Rememberfor economy's sake H i --the next ton should be-- K pYuCTyfllWSi (lift yB fffffil '( " I l F. A. McDERMID. Present J. D. LEWIS, Vice-Pres. H D.H. CANNON, Sec'y.&Trea..' IR. S. LEWIS, Manager I ,t Marsh Coal I ; Company H j All Sizes of the Hj Best Steam and Domestic Hf " Coals. Anthracite, Coke, H: Kindling. Auto Trucks H and Teams for good service. Hi f Offlco 16 Exchange Placo Phones: Was. 165-166 m :' The Mines and the Market THE first week of 1917 has been very much like the last week of 1916, but there has been a difference as can be seen by looking at the black board in the trading room. The market is still un der the influence of the eastern marts and they are still worried by the uncertainties of the inter national situation. It is not easy to believe, however, that the min ing hiBtory of. 1917 will be at all like that of 1916. One may rather predict that it will be more like the story of 1914 read backward. That, you re member, was the year the war began. Metal prices had been low and mining stocks at a dis count for a year or two, but both were on the up grade when the war broke out. " In June, 1914, copper was bringing 14 cents, lead 3.9 cents, and silver 56 cents. The Euro pean conflagration started. Every school boy should have known that it would diminish the sup ply of metals and increase the demand for them, but it took the followers of the American mar kets from six months to a year to apply that ele mentary principle of economics in a practical way. It looks now as if the same people would be as stupid in acting on the obvious results of peace as they were in grasping the significance of the war situation. Peace will not mean an early return to the metal prices of June, 1914. Peace now will find the metal stocks of the world exhausted and the demand far greater than it was in 1914. The war uses for silver have been negligible. With the return of peace, unless there is a revo lutionary change in the world's monetary stand ards, there will be an enormous demand. The In dustrial need for copper and lead will be intensi fied. Even if their prices are scaled down the dif ference will more than be made up to the mines by the reduced expenses of operating. Powder, fuse, caps, machinery, fuel everything used about a mine has kept step with metal prices and taken toll from the increased gross returns on the mine's output. There has really been an improvement in spots during the week, though public interest re mained rather lanquid with professionals respon sible for the making of most of the market. The price of mining shares will of course be deter mined on the demand for metals and there is no question but that there will bo an enormous de mand for silver from now on and that for copper, lead and zinc is bound to continue strong. Al ready the tone of the lead market has improved following the December depression and producers and dealers alike are apparently satisfied with the technical and statistical position of the market. Prompt deliveries are commanding premiums and it must be borne in mind that production is not increasing and that practically all in sight has been sold for the next thirty days. There is an undertone to the spelter market also that is very strong, though prices have not experienced much change. Even if peace should come, which we think is only a remote possibility during 1917, we see no reason for a peace panic, and believe that 1917 will mean more to Utah Mines and min ing stocks than is shown b ythe remarkable rec ord of the past year. On the local board there has been such a com plete readjustment during the December reces sions that the market is now in a splendid posi tion to respond to news of a favorable character and it is just the time for investors to use sane, sound and unbiased judgment regarding the physi cal condition of the properties represented and the market position of the stocks. When we get down to the alterations 1917 is likely to witness in the actual form and methods of mineral production we may expect a resump tion of the tendency which was so strongly in evi dence seven or eight years ago. Then the more enterprising companies were reaching out for more territory. Expansion was the slogan The Silver King of Park City brought nearly half the camp under his sceptre; the Utah Copper swal lowed the Boston Consolidated at Bingham and, a little later, the Michigan-Utah merger was put through at Alta. The past year has given us a foretaste of the new expansion movement. The Chief Consolidat ed at Tintic has gone about consolidating until it has changed the map of the district. At Park City the Silver King Consolidated has rounded out its holdings in the western part of the camp until they have become a unified domain which can be explored thoroughly from a single tunnel. At Bingham the Utah Metal and Bingham-New Haven have realized the truism that it is not good for mines to be alone. And at Alta the Emma Copper, Old Emma and Emma Leasing companies have evolved into the Emma Consoli dated, while the Columbus Extension and Rexall became one. THE Knights, although they have maintained sep arate organizations for a great many contigu ous properties these many years, so far yielded to the merger spirit that they united the Colorado and Beck Tunnel and it is rumored at Tintic that their purchase of control of the Lower Mammoth is the prelude to another consolidation in the southwestern portion of the camp. It can be truthfully stated that most of these unions have resulted happily. The contracting parties have found that two can live as cheaplly as one. Enlargement of territory, as in the case of the Silver King Consolidated, makes possible large scale operations that could not be carried out successfully by individual companies or by in dependent companies trying to act in concert. The exceptions to the general rule are such reorganizations as are arranged for stock jobbing purposes, but barring these exceptions- we believe that investments in consolidated companies are better generally speaking for the investor than purchases of stock in constituent companies be fore cosolidation. Sometimes an organization answers the pur pose of a consolidation bo far as economy and efficiency are concerned. The Knights have built up a -wonderfully effective machine for mine de velopment which enables them to operate prop erties in different states with as much ease and economy as mines in the same district. They have handled properties in Colorado and Nevada with the same system and thoroughness that have marked their operations at Tintic. JESSE KNIGHT and associates have taken over the control of the Comstock Phoenix Mining company's property in Six-Mile canyon, about a mile below Virginia City, Nev., and on January 28, the reorganization of the company will bo completed with Jesse Knight as president, George H. Drysdale, vice-president and general manager; W. Lester Mangun, secretary and treasurer. The officers and the following will compose the di rectorate: Louis Parkhurst and F. M. Manson, of Reno, general manager of the Western Ore Pur chasing company and the Utah Ore Sampling com pany. Such was the announcement made in a letter issued by Dern & Thomas, brokers, who are handling a portion of the stock. The property consists of three claims running parallel with the, famous old Comstock lode. Un der the management of John M. Keith, who open ed up the property and for a short time after his (Continued on Page 6.)