The Salt Lake tribune. [volume], December 29, 1907, Page 33, Image 33

About The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current

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Mb THE SALT LAKE TRIBUNE, SUNDAY MORNING, DECEMBER 29, 1907. 33 ml
Mm Mining in Tjtah has just closed a
Mm. liappy. yet uuforiunatc year.
SEff Paradoxical as this may seem, it is
8Sv nevertheless true.
1 The year 1907 has been a very happy
ffljfl? season for tho reason that never before
Sgjjf have the mines of. the State been so
ttV capable of producing precious minerals.
mm Jt appeared early in tho year as if all
Iff tho faithful old producers had been
W merely playing in the seasons past,
M while many old-timers long relegated to
the dump heap with nothing but their
W past honorable performances to lay any
I claim on for recognition, suddenly
f came to light in all Iheir old-time vigor
f and usefulness. Many new properties
' began to pour out their ores with a
generosity worthy of veterans at tho
' business. The high-priced metals stim
ulated mining activity in each nook
and corner of the Stale where talent
heretofore had only looked in and
passed on. Ores camo rolliug in to
rt5&" tho Salt Lake smelters in a volume
never beforo equaled.
t Yet it was an unfortunate 3'ear.
jwg HI Fortimo Steps In.
HI During tlio close of 190G, Utah was
H somewhat takeu back by a decision
rendered by the United States Circuit
HF court against several of tho great
if smelting organizations operating in tho
H Salt Lako valley. The decision camo
M as a severe blow for tho timo being, but
q people rented secure iu tho belief that
some means would be found' to elimin
ate all the differences between the
farmers, who claimed their farm3 and
Ptock were being destro3'od by Hinolter
fumes, and the smelting plants. So tho
new year was ushered in with hardly a
thought as to that decision. Tho case
against tho smelters was taken to the
Court of Appeals by tho smelters,
w which wore enjoinod from smeltiug oro
. containing moro than 10 per cont sul
i ' phur. Many believed the higher court
' would bring somo reliof into the situa
tion. The year had not outgrown its swad
1 dling clothes when copper began to
desceud from its high porch. Tho top
:. price had been reached for tho red mot
if al, and the other course, tho roturn,
J was inevitable. This placed a damper
on copper mining. And so man' invest
ors having plunged on copper stocks
which were at high prices, being basod
on high copper, were brought face to
faco either with severe immediate pe
cuniary losses, or with a 3-ear or two
of patient waiting for things to right
themselves. Some had purchased their
slock on margins. They saw their hold
ings deprcoiaio in price daily, aud
many had to let go. This cut off the
supply of ready money which other
wise would have been free for invest
ment. And it shook confidence to tho
foundations. Tho man of monoy de
termined to wait for the atmosphere to
clonr beforo risking his ready cash on
a mining proposition.
With copper dropping in price, it
was logical that other metals should
corn down as well. They did, and this
hud an additional disquieting effect.
"When things wore assuming their most
uncertain aspect, tho Eastern financial
panic came on with resistless force, and
what little was left of stock values
soon had to tfivc way before tho rush.
For a timo all was chaos, and no one
knew .-just how much the iniuing indus
try could save for itself from tho
wreck.
Smelting Situation.
While all Utah was standing on tip
toe awaiting somo breath of relief
from tho Eastern financial centers, lo
cal smclterB, pretty well filled up ou
ores purchased when tho metals were
high, determined on securing a mo
ment's breathing spell. They request
ed their ore shippors to ease up, to
quit sonding in ores at sojiberal a pace
when tho financial crisis was at so
acuto a stage. This was the last straw,
apparently. Producers which were ca
pable of mining silver-lead-gold ores at
record speed had to curtail their pro
duction, or bo forcod to quit cntirelv.
This blow took abont all tho wind left
in tho local Htock situation, and Salt
Lake and Utah began to suffer like the
country at largo from indigestion, then
paral3sis.
Shortly before tho close of the year,
and while tho situation was ono of
much uncertainly, tho United States
Court of Appeals issued an opinion
confirming in toto the decision ren
dered a year previous regarding tho
smelters. This was indeed, the last
straw, and it intensified a feeling of
helplessness that has endured even to
tho dawning of the new yoar. Tho
management of the United States
Smelting, Refining and Mining com
pany recently came out with a stato
merit in which it was announced that
smelting in their Bingham Junction
smelter would have to cease.
Pending tho appeal to tho higher
court, the American Smelting and Re
fining company. wifrli admirable fore
sight aud a liberal outlay of cash,
made a partial peace with the farm
ers, by which it was agreed that un
der certain restrictions this organiza
tion could continue smelting ores con
taining over JO per cont sulphur should
tho ores bo so graded that tho furnace
charges would not contain over 10 per
cent sulphur. Among the conditions
in this agreement was one looking to
ward the installation of additional
equipment bv which tho product of the
smelter stacks were to be robbed of
their dcstroy'ng influences. Tho Amer
ican company then found itself in a
position to announce that its Murray
lead smelter would .continue to run in
spite of all obstacles. And on tho point
at Garfie.'d was its mammoth copper
! W AWWr
smelter which was not a part to the
suit, nor is there any likelihood now
that this new plant will ever bo ob
jectionable to the farming element of
Utah.
Bingham Consolidated Quit.
With tho threat of the United States
company to close down its plant, camo
the news that the Bingham Consolidat
ed company's smeller had been cooled
down for good. This company had not
intended to continue its local smelter
any longer thau the order of the court
would allow. Backed by Itcinzc and
associates, tho Bingham Consolidated
had its plana complete for an entirely
now smelter over tho mountains in
Tooele county. These plans are now
roadv to be placed in the hands of tho
builders. The Utah Consolidated com
pany. another defendant in the famous
smoke case, began to expect tho arri
val of tho United States marshal call
ing on them to quit tho smelting of
ores in their local plant. This company
likewise had been over on the Tooele
side looking for smelter sites, and thoy
secured one admirably suited to their
needs earl v. This company has a sur
plus of something like $4,000,000 cash
with which to erect this new smeller,
and the future held little for this or
ganization to worry over.
Future Was Bright.
But that was just tho trouble. Ev
eryone had confidence in the future. It
was the present, the season of 1907,
that was worrying, and in trouble up
to its ears. With Utah miues running
over with rich ores, and no placo to
sond them for treatment; with Nevada
and her millions of tons of rich ores
awaiting a similar disposition, and
confronted with a similar difficulty;
with part of Colorado, much of Idaho,
California, Wyoming and even Mon
tana looking to Salt Lake smelters for
relief, and with no immediate reiicf
in sight, theu thero was trouble, sure
enough.
Shippers coming into Salt Lako to
secure oro contracts found tho smelting
companies willing to contracr, but un
der conditions and with a time limit
entirely beyond their opinions of jus
tice and wisdom. So the atmosphere
was indeed clouded.
That is a part of 1907 that was un
happy. Now Plants Are Certain.
There is no doubt that tho defend
ants Jn tho smoko caso will have to
cease copper smelting in their present
localities. Tho Garfield smelter will
lako care of much of Bingham's cop
per ores, and other largo camps of
Utah producing red metal rock. As
stated, tho American plant at Murray ,
will continue smelting lead and silver
ores, while Ihero is every reason to
expect that tho United Stales com
pany will make a tomporary. truce with
tho "farmers and go on smeltiug silver
load ores in their Bingham Junction
plant. The Utah Consolidated com
pany will build its new plant across
tho" mountains in 100S. Huinze and
associate interests will build their great
custom plant in tho sito recently se
cured, the entcrpriso being backed by
powerful Utah and Eastern capitalists.
At Tiutie, Jesse Knight and associate
interests will hurry to completion their
small smelting plant in order to handlo
the low grades of Tintic ore, as well
as tho better grades of ores from the
Knight mines.
Rolief in tho smelting situation,
therefore, is in sight, but it is in the
future, and it will lake the bettor part
of tho now year to bring harmony back
between U16 producers aud tho buyers
of rock. Nevada will be compelled to wmm
erect its own smelting plants. The U IH
smelter at Ely will take care jof Ely 11 H
copper ores, but somewhere within easy jj Wm
reaching distance of Coldfield, a 'srnel- ' j mm
ter to treat gold ores will be a neces- m jfl
sity that money must provide. The ft! U
lusson of 1907 will not be forgotten by vjfj gja
Novada. Her mines had more oro thau I Sfl
the smelting organizations could pur- W HU
chase. This was in itsolf a mighty sin- -w HI
cere tribute 'to her greatness, but it i M
was a tribute that carried its sting, J mfn
the sting of idleness in her mines. . V mm
While tho present smelting situation ! ttl
in Utah is not good, its citizens have ' ' 82
even' reason to feel thankful that the ! SB
clouds have cleared away as much as Qjl
they have. Bjg
Groat Copper Increase. " j M
Tho greatest increase in Utah's pro- 'OflS
ductiou l.ablo for 1907 is noticed in 1 Ml
copper. This State holds somo of the I MR
greatest copper mines in the world. Ev- 9HH
ervono knows that. But it was not Wmm
until 1907 that several of tho Utah IBB
copper districts wero iu shape for pro- " jjfll
duction. Bingham especially did nob , j Bflj
begin shipping at any great rate until K BH
the season .just closed, and the Boston t fHJj
Consolidated and Utah Copper com- hQ
panics brought a splendid amount of jffi
copper ores into tho channels of trade. BJB
The Newhouse mine of Beaver county
was another property that covered it- j 9BJ
self with glory ns a copper producer IBfl
during a part" of 1907. Other great ' IBB
mines of Bingham, and mines scat- mm
lerod all over the State, from thoso HH
sonding in several cars of coppdr ore s LBBJ
a week to thoso with ono car a week MmM
or one car a month, all assisted to run. HuS
Utah's copper production up to Tecord ran
The districts that especially distin- OfHrai
guished themselves in an ore produc- IdfHtr
Hon waj' during the yenr were Tintics, IlKj
sAlta, Ophir, the various camps of Mj
Beaver county, American Fork. Fish lA ffwi
Springs and others. Tintic made tho
greatest gain in over' regard, bring- IjjWfl
ing forth more producers and dividend tHlffl
payors than any district in the West. HOB
And it stands to reason that oro bodies ; jgnj
merely discovered in one year aro . nif$j
bound to bring in more wealth the nest. r' 'JwSn
This is tho caso with Tinlic. i nfwjj
As to tho Future. ftMfl
And now for tho future. It ia - U 199
pleasant sometimes to contemplate j H
what, within reason, v.'o aro to secure. 1 & JXs
Utah has not. started on her mineral k .' Lj
production. Bingham, Newhouse, Tin- l JjJ IB
tic and all her camps aro merely warm- TflJs
ing up for tho timo to come. In 1903 1 kHtjx 1
we will find a greater ore production j. Iff; S
than ever, and tho good name that Ji j :
Utah mines and Utah mining stock has I !
enjovod evorvwhero in tho financial 'tliilii
world will only be enhanced by her por- jN. jjl ift
forimuiccs of 190S. . j jwj
WAS PROSPEROUS YEAR FOR THE MINE OWNERS M
f Nothing can illustrate the splendid character of effort
applied on Utah mining properties during the year just
closcd thau the record of production during the past
rAwelvc months. During the year Utah mines produced the
grand total of $51,638,409.03 worth of gold, silver, copper,
lead, zinc and quicksilver.
The greatest gain of the year Avas made by copper, and
the figures demonstrate the ever-grpwingamportauce of Utah
as a copper producing State,- In 1907 a total of 98,791,065
il pounds of copper was" brought to the local smelters, the
: value of which was 20.63 cents a pound, or $20,370,596.70.
j The output of the red motal for the previous year amounted
I Utah Metal Output for 1907 t
i ?
(iold, 571,038 ounces, al $20.0718 per ounce $11,80-1,383.33 If
? Silver, 17,204.148 ounces, at G6.3 cents per ounce 11,400,350.13 J
J Copper, 98,791,065 pounds, at 20.G3 cents per pound , 20,370,590.70 t
$ lioad, 142,176,141 pounds, at $5.38 per 100 pounds 7,649,076.38 I
I Zinc, 6,41 1,926 pounds, at $6.10 per 100 pounds 391,127.49 t
t Quicksilver, 375 flasks, at $45 per flask : .... 10,875.00 t
X i"
. Total $51,038,409.03 t
X Y
J. r
l Utah Metal Output for 1906 I
i I
? Gold, 470.907 ounces, at $20.0718 per ounce $ 9,735,073.92 'J:
;j: Silver, 15,981,315 ounces, at 00.580 per ounco 10,041,318.41 jjj
:f. Copper, 07,303,307 pounds, at 18.95 cenls per pound 12,773,988.05 :fc
jf Lead, 115,018,817 pounds, at $5.05 per 100 pounds .". 0,487,001.28 i
v Zinc, 0,472,734 pounds, at 0.01 cenls per pound .... .... 389,01 1.31 jjj
Quicksilver, 1270 flasks, at $42.50 per flask 54,230.00 jjj
jj
T Tofal $40,080,082.97 $
j!j Increase of 1907 over 1900, $11,557,726.00. . t
i , i
to (57,303.376 pounds, the average price of the motal that
season being 18.95 cents a pound. The slump in copper
prices during the latter part of 1907 held the average down
below what had been anticipated
The gold production also shows a decided increase, 1907
leading 1906 by about 100,000 ounces. Silver also broke all
previous records, registering 17,204,1-18 ounces, as against
15,98.1,315 ounces for 1906. Silver during the year averaged
a fraction less than the average for 1906. There also was a
slight decrease in the zinc production over 1906, owing to
the Horn Silver mine being idle for a portion of the season.
The Horn Silver is one of Utah's greatest zinc producers.
The Scranton mine, on the other hand, produced a record
"amount of this metal in 1907, just about bringing the total
output up to that of: the previous season. Quicksilver shows
a decided decrease over 1906, due to tho State's only quick
silver producer, the Sacramento, suffering a decrease in the
production of this metal.
As usual the average price of the various metals for the
first eleven months of the past year are used in the calcula
tions, Tt will be a matter of surprise to (Jtahns to discover that
the year just closed left an increase of production over 1906
to the splendid amount of $11,557,726.06. After the rather
strenuous times through which the mining and smelting
industries have been passing for the past few months, it be
gan to look as if tho production would be cut down beyond
what actually appears to be the case.
It was a prosperous season for the mine owners, as is Lllfi
seen by these totals, and it was a prosperous year for the f Sll
miners. Wages have stood at record heights during 1907. Wi
Another illustration of the success of mining in 1907 is
given by the dividend table. In the past twelve months j1 In'ijjS
twenty-four Utah mining organizations paid the handsome jvKIl
sum of $7,63S,42S to stockholders in the form of pure profits. I rft
In number, Tintic holds the record, fourteen of these compa- n ijMBj!
nies owning Tintic ground and wringing their profits from ' K f-inj
this great Utah camp. Bingham provided over, a half of mm
the above total in dollars and cents. The record for 1906 ia Tm$'
eclipsed in number of paying companies and the amount paid .!
out. In, that season twenty-one companies paid dividends fj M1
amounting to $5,150,490. jjft J$)
...... ; if-jf