The Salt Lake tribune. [volume], June 20, 1912, Page 12, Image 12

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

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12 THE SALT LAKE TRIBUNE, THURSDAY MORNING, JUNE 30, 1Q12.
I OHIO COPPED IS
I FORCEDJ ASSESS
Unwelcome News Received on
Wednesday That Company
Needs Assistance.
ONE DOLLAR PER SHARE
Plan of Reorganization Re
ported Involving- Reduction
of the Par Value.
Local stoeklsoWers of the Ohio Cop
per company, who, despite their better
Judgment, have held onto iheir stock In
thm hope that the Interests In control
would bring: about order and operating
success, wore rudely disillusionized Wed
nesday afternoon when the news cams
across the Pollock wires to the effect
that a reorganisation scheme had been
decided upon end that an assessment of
fl per share had born called for.
It has been taken for granted popu
larly that the Ohio Copper stock was not
assessable and thai the stockholders
themselves were the authorised ones to
put any reorganisation plans on tine
tapis, but tn the nhsence of definite
information in ths premises it is now
conceded that if the directors want the
shareholders to put up the $1 share
thsy might as well conclude to put it
up or sell out.
Want Change in Control.
It is not an easy matter to discover
who are present stockholders of the com
pany locally, as a great many recently
nave disposed of their holdings, but a
number seen vesterday after the news
of the reorganisation came asserted that
they would be unwilling to nay any as
sessment until there was a change in the
management. They believe that the ru
mor afloat on Wednesday in regard to a
stockholders' protective committee as
well founded and that soma such step
win be taken by the eastern stockhold
ers, In which case a number have ex
pressed their determination to Join with
any such movement.
Up to the publication a few days ago
of the report for th six months ending
March 81, IMS, stockholders have been
unable to obtain any information of an
suthorltative character about the Ohio
Copper and they have proceeded entire
ly in the dark. They bellev that there
will be an abundance of news now avail
able and they welcome this feature with
open arms
The wire over the Pollock system was
tn effect that the reorganisation would
consist of altering the capitalization
from flS.000,000 to $7,500,000 by reducing
the par value from $10 to $5 a share,
leaving the number of shares of stock
where it now stands, 1,600,000 shams.
New certificates will be Issued and ex
change for the old on n share-for-share
basis and upon the payment of the $1 a
hare.
Will Hurt the State.
A tew weeks ago ihe mine was exam
ined hv Knglneer Henry Krumb. presumably-
for the creditors. The result
of this examination has not been dis
posed, but that it was unfavorable is
believed by som in icw of the dis
closures of Wednesday The Ohio situa
tion Is an extremely 'unfortunate one on
account of the amount of T'tah money
tied up In the proposition and because
the property Is located in Utah.
MARBLE FROM UTAH
WILL BE MARKETED
At a meeting of the directors of the
Murray Black Marble company in the
office of Judg" J v. Burton, the presi
dent, measures t ere discussed and adopt
ed looking to the peneral prosecution of
work on the company's properties and
particularly providing for filling a con
tract recently miide for a carload ship
ment of marble to Chicago. Work is
now progressing vigorously a I the quar
ries and It is expected the shipment
can be made In les than twenty days.
This will be the first big consignment of
the kind ever sent out of the state, and
It will he followed by others In different
directions
The demand for the product is on the
Increase, the quality and quantity hav
ing been thoroughly demonstrated.
The ledger are of great extent, being
BOO to 600 feet In width and showing up
for a mil In lonRth. all of which are lo
cated by this company They ere situ
ated within lean than s mile of the Tin
tic branch of the Palt T.ake Route, west
of the north end of Utah lake, and thus
have the advantage of easy shipment of
products. Arrangements are being made
for the installation of machinery at the
works, end when this is accomplished
production and shipment will he consld
rab augmented.
LEAD-ZINC TARIFF
MATTER IS DODGED
The. June bulletin of the American
Mtnine congress contains the following
Interesting paragraph on th proposed
tinkering with the tariff on lead and
sine during the present session of eon
jtreys: "The Underwork bUt providing for a
reduction in the tariff duties upon lead
and zinc ore. was under consideration by
the senate at our last report The Cum
mins amendment, which carried with
it fair protection to these items, was
voted down. Because of the deliberate
absence of some of the friend? of pro
tection, th hill pas -ed with amend
ments. ont of which provided for the re
peal of the Canadian reclpro Itv act. The
bin was sent to a conference commutes
and i is not possible at thl time to preJ
dirt what action will be taken by he
conference. Tl Is confidently expected
that President Taft will veto this bill
e'nou'd the conference committee come to
an agreement concerning the nex fea
tures, which must he done before the,
oil can be snt to the pres-id-nt for his
sinrroval "
MAJESTIC SELLS A
GOOD LOT OF ORE
General Manager A. D. Moffst of the
Majestic comp.Miv ste.td estrday that
the company had Just dlspoged of a lot
of ore. two cars, st the local tmeHers.
for which the company received
Smter -net per ton The prevnt metal
prices are of especial impoitance. to the
companyi snd between twenty flve and
thirty can Of rock like that above should
find their wav to the market during: the
r r-'i-ni month. Mine conditions are ex
tremelv favorable.
FoIIb a Foul Plot.
When a shameful plot exists between
liver and bowels to cause distress bv
refusing to act, take Dr. Kiuc's New
Li'e Pills, and end such abuse of vour
system. Tbey iueatlv compel rictaf ac
tion of stomach, liver and bowels, and
restore vour health and all pood feel
jagg. 25 at Schramm Johnson, Drugs.
DALY-JUDGE MINING COMPANY.
The regular ouarferly dividend of the
Ualv-Indge Mining company of fifteen
per cent, aggregating jr. mo. being divi
dend No. f-. has been declared payable July
1st. ltlt, to stockholders of record at
nr. of business June SO. l !!.!. on Which
Cat the transfer books will c!ose, and re
open on July Li 1913.
O. W. LAM BOURNE. Treasurer
ant
SMELTERS ARE KEEN
HfTERJHDA ORE
Producers of Sagebrush State
Never Had Such Splendid
Chance as Now.
The state of Nevada If basking in the
brightest smelting competition sunshine
In Its history, and the producer of ore
has the opportunity of a lifetime for se
curing Rood terms for the reduction of
his product. There Is a new Richmond
in the field in the shape of the Mason
Valley company, which is after copper
ores, and getting them. too. reliovlng the
producer of the expensive railroad haul
to Salt Lake plants. This same company
Is quietly gathering In other classes of
ore as well, which will he needed In time
to come a6 operations increase.
At Ely there Is the Nevada Consoli
dated smelter and concentrator, which has
never emphasized the custom smelting
business until lately. punctuating its
change of policy by acquiring the Glroux
mine product where. theretofore, the
Glroux had anticipated the necessity of
carrying Its product clear to Utah
The Salt Lake smelling companies, the
American 8mlting. United States and
International, likewise are giving Nevada
a great deal of attention. The Interna
tiona and United States companies have
established state agents, whose duties are
to corral the ores of that common we a 1 1 h,
while the American company has its ore
hunters on the trail of big game con
tinually J M Bldwell. manager of the
local company, a few days ago was lo
cated In the Eureka country", to which
point the Eureka &. Palisade Railroad
company recently completed Its line again.
There never was better smelting com
petition for copper, silver. le;jd and gold
ores than there la today, while it is a
matter of wide knowledge that the zinc
ore purchasers are keener than ever In
history for their kinds of ore. Nevada
should rejoice In the race for Ub mine
product, as It win assist materially in
bringing creat prosperltv to the produc
ers of that state Nevada had better col.
lect all the good ore contracts possible
while this same sunshine of competition
is shining its brightest
New York Mining Stocks.
James A Pollock - Co., hankers and
brokers, furnish the following, received
over their private wire yesterday after
noon :
NEW YORK LISTED STOCKfl
I 55j H. 1 L. ICIse
Chino I 2.7001 243; 3481 349
Goldfleld Con 1 2.200 4J 4i 4J
Nevada Con 1.400 221 2:'g 22
Ray Con 9,5001 21 jl 21 213
Tenn Copper l.OOOj 45; 443i 4.r-l
Miami Copper 2,3001 288 281' 28
Utah Copper ! 1,700' fi42 631 Mg
Inspiration Con.. . , 2.300I Ujjj lgjj 1!
NEW YORK CfRF RANGE
Sales. H TT'Clse
First Natl Copper . .1 1 3 2 3
Glroux Con 200' oj S 51
Nevada Utah I 200) 31 811 8
Ray Central ' 2 2g L'S
Yukon Gold 3.000 3JI 3J 3$
Ohio Copper 5,000 1)1 Ul U
New Kevstone ,., 2V 21 1 2i
South Utah 1 II i
Mason Valley I l.SOOj 131 13 13
Braden Copper 8,000 "jl 71 7
rciv Con I 1,000 il i I
La Rose ! fiool j?i sjl Si
Nevada Hills I 600 2 2 2
Mavs Oil I fi.oon sic :oc
Kerr Lake 1001 "I 31 !J
Belmont 1 200' 10i 1W oe
Tonopah ' :i00 7 7 74
NEW YORK CURB CLOSE.
1 Bid 'Asked
Ely Consolidated I 2S I .30
First National Copper ..! 2 7' -,.Qf
Glroux Consolidated i " 50 . 2 i
Yukon Gold 3.76 I 3.871
New Keystone 2.50 I 2 f
Nlplssing I 7.75 7.871
Ohio Copper 1 on 1.124
Ray Central I 2.371 2 75
La Ro.e 3.371 3.50
South Utah . R7 ,7.i
British Col. Copper , 6.00 I 6.121
Bay State Gas .50 ' .621
Braden 7.371 7.50
Mason Valley 13. 00 I 18.26
Sioux Cons . ... .05 .07
Colorado I .17 20
Iron Blossom .. 1.22 1.80
Boston Mining Stocks.
James A. Pollock A- Co. bankers and
brokers, furnish the following, received
over their private wlr yesterday after
noon. BOSTON COPPER RANG E.
1 Sales. I IT. L ICIse
AJgoraafa I 501 c,' 6; kj;
Butte & Balak M 1
Calumet S: Arizona..! 575 761 75 76
Chief Con 200 lgl 13
Copper Range .... 3301 .'.f4l 5Z 50
Daly WeBt I 52 6
Davis Dalv 875 2 21 2
East Butte SO ir, 13 i;?.
Glroux Con 205 5i 5j oi
Gran by Con i 226 .v. 65J 55
Greene-Can.. i 750 loj 10 ' )(i
Hancock ' 2861 36 361 1 351
Indiana Copper I 610 1!J 13 I 19jl
Inspiration r:on . .. J20i lf irij i:.
Lake Copper I 370 ;;oil 3SJI 33J
La Rosp 1 165 1 gl 3 3
Mason Valley 1 1.650 181 12 13
Nevada "on 221' 32 2-'
Nevada Utah ! j 5ol 8c Be
Nlplssing . . so 7i 7j tj
North Butte 1,250! 32 " 31 4 r. 1 ft
North Lake 115 6' 6J 61
Ray Con 1,481 218' 21 21S
Superior ft Boston ....... 21l 21 nl
Trinity W 7 17 7
;U 8 Smelter, com ..' 4.0781 41 1 ::!J' li
preferred . 1711 40 40 I 48
T"tah Con .'6.r.1 1IJ 11 I m
Butte & Superior J s.on; 501 101
BOSTON" CURB CLOSE
1 Bid iAsked
Ajnerlcan zinc ;j3i .'i'$32 121
B';ttc & Superior 49.121: 48-26
Miami 1 2S.50 I 28.621
South Utao I ,60 ' ,78
Tuolumne 3.87 4 00
Nevada Douglas 3 62J P. Mi
Ollbway 4.2 (.00
Majestic. I .87 1 .61
Keweenaw I 1 62- " on
Chemung 4.871
Helvetia 1 .371 182
Michigan 3 00 I 3 so
Kerr Lake 2. so ?!871
Mas 7 no 7 5
Ohio popper 1.00 ! 1 7 j,
Mayflower . . 9.62i 10 1 0
Old r'olon'.- ! s 25 ' S.r.O
Ronton Ulv 1.."ir 18"
Bohemia , 1. 3,0 sifH 1
Victoria 4.371 4.50
Winona 6. so am
vandoi 05 2 6i
Shannon 15.00 18 28
Poijth Lake 9.50 9 an
Bingham Mines 8 on 3 Ro"
Begole i;62J 2 25
Arcadian 4.M 50
Calaveras 2 2i 2 R74
Haton Copper 6.75 7 on
S. W Miami ... 7. So I 1,35
Consolidated AHzona ' ' -'f
Eagle ft Blue Bell , 1 4s 1 l.m
Oneco 2 75 I I S74
Utah Apex I i'l
Greene in. 00 I to ii
Butte Sc Pala 3 4. '00
Ore Shipments.
The Utah Or SampllnK company on
v. ednesday rel-Hc-d Blx cars of ore from
T'tah antl two from NeHrla camps.
Ore and Bu'.lion.
The ore and bullion re(.ort for U'ei-nesda;-.
given by McComlck & ''o . waf
s ffjlows. Ore received. 130.000; bullion
shipped, $115,000; total, 1145.000.
OHIO COPPER WEAK
ON ADVANCE NEWS
In sympathy with the eastern market
action of the stock, due to the calling of
nn assessment, the Ohio Copper stock was
the feature vesterday on the local ex
change and It broke badly The stock
recovered allghtly toward the close on
short, covering, there being no investment
buvlng that, anyone could recoRuiae. The
dav otherwise was little changed, a to
tal" of 17,317 shares of stock selling with
a value of ?6832.8S.
UNLISTED PTOCKS
" 1 Bid pujkedT" ifi gjor
B C-Stand .1$ -15? .17 IS ilsTS .17
New TerV.. -20 I .9
Elv Witch . -06 .07 .07 q ...
Alta Con . . .46 .48
Federal Ely.' .031 041'
T'tah Mine .1 0
T-Qulncv . , .34 I ,3S I
UNLISTED NKVADA STOCKS.
I A. M j p. M
I Bid lAsked ,' Bid. lAsked,
Tono Bel .. D.7.S 1 0.75 10.80
Jim Brttler ,63 ! .60 .82 M
MacNamara .23 .26 1 .28 2
Midway . . 35 . 45 1 ,85 .45
Ml Ex ... 1.15 I 1.40 I 1.30 160
Mont. Ton - l.10 2.40 I 2.20 2.40
North Star .11 ,1S I 14 ,1S
Res Eula . .14 IS I .14 IK
Tono Ex .. 1.76 I 2.00 I ! 7-i 2.00
West End . 1.K0 1 . SO 1 50 1.80
Blue Bell ortJtt 0J
Blue Bull . .051 "3 I .05 ,0S
COD . .op .n 1 noi II
Col Mtn ... .0311 .07 I .031 .07
Comb Erac ! .1211 .16 ' .12! . 16
Florence . .80 1.00 S5 1.00
Gf Con j 4.25
Gf Kew ... .n,-,j . 07J , .n.i ,n7
Of Merger ! .30 33 gQ .Jj
Gt Bend .. .081 .07 11 ."21 06
.Limbo Ex i .30 .40 10 .i'l
Lone Star 1 03 j 06 ,03 .06
R Top Ex.. .... .02 ... . . 081
S Pick Con! .10 .14 .10 .14
M Big Four1 13 .IS
Man Com j 21
M TV Caps.' .15 ! .IS ' .14 IS
Mng CHory 11 u
Mustang A I .04 ,07j I .01 07j
Pitts S Pk. 1.15 l.T.o 1.16 1 30
Rawhd Coal .oil" 01
Round Mt .' .86 45 jl .36 .45
Atlanta . .. Uj . :3 .Jl 23
LISTED STOCKS.
I A M P. M.
' Bid. i.:-ked." Bid. "Asked.
Beck Tun . ? 10 ? .12 ,10 I IS
Bing Amal .071; .081 -071' OH
Black Jack I .18 I .15 I .13 I .16
C-Talls .1 .02 1 0 j l ,02 021
Colo Min . 1 ln 161 15 1 1
Colum Con I .25 ..Tl : .96 .31
Crn Point . 1 0; n:j .0j .K
Daly .75 I 1 .50 .75 1.50
D-Judge . . 5.75 I I 5.75
Drasron . .( .26 I .35 ' 25 .35
Baal Prince 1 .OU' .011
E & R B..I 1.28 ! 1.45 I
E Cr Point. ( .00 .00 I ooj .00
E Tin Con.1 ,00j .oox .on ,nn
E Tin Devt1 .00l' .01 II .ooj; .01
Emerald .1 .01 5 II .01 .04
G Chain ... .82 I .36 .$2 .86
G Central . .60 I 70 I
Ind Queen .01 .Oij 1 01J 01j
1 Bios 1.25 1 27 1 1.25 j 1 27
Iron King . ,01 -04 .01 .04
J Bower . .ofn; .no nnj 02
Kevstone . .' 00 1 I .00 1
Klntr Wm.. .0311 .0411' .03f 04J
Lead Ring. .01 ....... .01 1
Lehl Tlntlc. oo ni -ni .nj
Lion HlTl ..I 03 ' 08 I
Lit. Bell .41 I .43 I .40 I .47
Mammoth .! I 85 .85
Mason Val. 12.75 I 13.25 12.50 1
May Day .. .10 .11 I .001 .11
Mln. Flat .. .oo! .01 .oof .01
Mt Lake . .03 I .04 II .03 ! .04
Mt. L. EX.. II ' .03
Nev Hills . I 5.00 2.25 '! 2 nn 2.r,
New York .1 .06 .061 .06J -06
Ohio Cop . I 1 60 1.66 ' 1.07, 1.121
Opohoneo . .161) 1611 151 .16
Ptocbe Dcm' .003 .I0i .00 .10
Plohe Met I 03 .03 I .03 I .081
Pittr -Ma .1 J 06 1 1 20 1 .or. t 20
PlUttlfl ... I 07 j .07 ' .07 1 ,07V
Pr. Con ,.J 1.60 I 1 67 1.631 1 6;."
Provo . . .1 oni nij nnj .ni
Rexall .. ..j .0111 I .01; .03
Sacram'lo .1 -01 Sf .01JJ.
S Troughs .1 .02J 31 .02' 04
S King Coalj 8.45 2 60 ' 2.50 I 2 66
I King Con. 1 on 1.07 l.on 1 071
Sil Shield .1 .01 I .03 I .01 ! .03
Sioux Con . .053 .06'! o.sj! 061
S Iron Blosj . onj onl1 .nn .00
Swan Con .( .06 I 07 ' .06 .061
Tintlc Cen .1 02' oj; " .02! .on
United Tin. I .01 i ni' . 1 i ni$
Uncle Sam I 20 1 .28 .20 I 28
Utah Con , .' .02 OS I .02' .03
Union Chief I .13 I .14 j .13 I . 135
Vctr,r Ton 04" ni 1 041
Victoria Cn ..'.n I .55 .Rl ,58
Tank Con I Il .12 .15
Yer Copper. I .oo,' .11 I ,nri' .in
Addle. .. ..! oo;i I .no'
Grulll I .00 ' .00'
Moscow ! .10 I 21 '!
FORENOON SALES.
Colorado ::on at 16 lc
ionx Consolidated. 1000 ai 5c
Iron Blossom, 1 100 at ?1 25.
Bwanlea Consolidated. U'oo at 7c. buyer
sixty days
Tlntlc Central. 1000 3t 2c.
Union Chief, 1600 at 13'-:
Shavrj: soldi 5900.
Belling va:uc. S1776.50.
OPEN BOARD
Ohio Copper, 100 at $1.35; 00o ar Jl 3d
LOO al $1,321.
Prince Consolidated, 400 at $1.66,
May Day, 500 at 10c.
Shares sold. 3767.
Selling value, 2445 SS.
AFTERNOON BALES
lion Bl0ll80fn 60 at I,26
Mountain Lake! 100 at 4c
New ork, 200 m
Ohio Copper. at $L10,
Prince I'onsolidated. 30o at $1.65; 100 at
$1.86i buyer sixty days; 400 at $1.6:.
Shares sold, 1750
Sclllnc v;i1ue. $2055 50
. OPEN BOARlr
Ohio Copper, 20 Oal $1,021
Silvet King Coalition, 100 at .tJ 60.
Swansea, WOO ;it nc
I "tilted Tlntlc, 6000 a1 1c
Sharff- soldi 8800,
Selling value. $616.
COPPER ISSUES IN
LEAD UPON MARKET
Jamep A. Pollock & 'o . bankers and
brokers, furnish the following, received
ovpr lhlr privaie wire yesterday after
noon Paine. Webber & Co.. Boston Consld
erincr 'he fci ii1Ht no arc in the midst
of one of the hottest politn ai conventions
We have fn in year, the market Is
-ictmst strong, and with any favorable
turn in this situation we q ill see a
bolilnfr matket next week Butte 8 Su
perior ""as (he active Oat'iie tonnv sell.
Ing up to .-,o There wav considerable
Mo,uldatlort on the advance, however and
the -toc) i'.hciwi t" o Buperlor Cop
per xnd Tlniiffhton Coppei were also
trong and active. Copper metal nold
al 17ic and Is now .)' .. t at i7o (n 17jc
st which price the producing iiiines arc
oil moklnp handsome profits ;ind in
creased dividends will t. in order from
now on. believe In buying the cop-
pets now for good profits.
Logan & Bryan, New Fork-Marke1
displayed a ;lrm tone throughout to
day's session, with buying of n sub
stantial sort in evidence in the coppers
The strong statistical position of the.
copper metal industry Is graduallv he
cotr.lng generally recognlzod. with the
result that many who heretofore have
hesitated are now taking hold on the
buylns side of the copperrv .'-'horts cov
ered rather freely in the coalers and
bought todaj but e fln o the volume of
trading was restricted by the political
news coming from the west. It Is not
Improbable that the 00 u vi i,cf.f. tomor
row at the Republican convention will
be euch s to permit a more definite
opinion relative to the outcome, bill of
course the wees beginning with June 26
win also re ic.teresi Ing rom the stand
point of pontics, hong' it maj he ),-'
OS tO dissipate tlie lethargy which n.r.N
characterized the Securities mnrkef for
OUlte ;, peri, d
Metal Market.
Ti.e metal quotations for Wedriesdar,
posted by McComlck & Co.. were foi
lowe: Silver, 611c. lead, 14.40; copper.
$17,174.
ATTITUDE OF TIE
OFFICIALS GIVEN,
Interior Department to Keep
Hold of Position Upon
Mine Patents.
REFUSE TO BACK UP
Assert Position Which Mining1.
Circles Feel Is Adverse
to Industry.
That there has been no change of j
henrt a t Washington In the matter of
patenting mining olalms, and that Ihe dc-
partmenl of the Interior will not alter it1
1 nurse fr.mi the objectionable lines fully
poinled out by The Tribune heretofore.
is evident from a communication re
ceived yesterday by Joseph I. C'lne, ;ec.!
retary of the sail Lake Commercial club,
from Congressman Howell. The com-i
munlc.ttion was the result of the reso
lutions p;i?sed b the Commercial club
calling for ; remedy and Bquare deal for
the prospector and miner
Mr. Howell Mate In his letter that It
Is too late now to secure remedial
lelr-Utlon this session of congt'eps. but
during the receps he will he In rinh 3?id
Wjll .'.1 range fi,r a progrnmnie during the
rtevf session lie encloses A Statement'
from he interior department In which
is contained a defense ni ittc attitude
sumcrl by the department, and to Which
the mining fraternity ohjects n-,,v:r round
lv. The -tatement here, follws In full
"Hon. Joseph Howell, House of FJep- J
resenta t h "
Dear Bis: Referring to a copv of reso
lutions adopter) hv the Sail Lake sto k
fir Mining; exchange reiaiie to proposed
amendments of the statute-; regulatlnfl
the dispost t io't of toe mineral in-.o- ol
the T'oiteo States personally presented
by yOUi the third resolution reads as fol
lows .
" 'Whereas, h department of ihe In- j
terlor by these decisions revolutionary In 1
their effect has announced that It is no
longer sufficient for the locator of a lode!
mining ce.im before .-ecnrlnc patetnl to
discover mineral-hearing rock In place
hut that such locator must piove that
ore of commercial value exists within I
the llmlls of each and e-ery ca.ni he-!
fore the deparime'M will pass -U'-h claimF,
to patent '
Statute Is Cited.
"This, it 1b believed, misconfttruec the
recent decision of the departmeni In the!
case of the F,asi Tinttc Consolidated
mining claim tin L. D. 271 ) decided Sep-'
temher n. inil
fSection 2818, Revise.-! Statutes, ro
serves from sale, except a otherwise e- 1
pressly directed by law. all 'lands vaiu-i
able for mineral.' Section Rev'isrd
Statutes, declares thnt 'all valuable mlii-l
oral deposits' are free and open to ex
ploration and purchase. Section 2320
prov ides :
"'Mining claims npem veins or lodes
of Quartz or other rock- in place bear
ing cold sliver, clnnahni': lend, tin, cop
per or other vniiiabie deposits, heretofore
locate, shall he governed as to length
along the vein or lode by the customs,
regulations anl laws In forcp al the .late'
of their location A mining claim lo-1
caterf after t h tenth dav of May, 1872,1
whether located bv one .or more persons,
may equal, but shall not exceed, ivinj
feci in length along the vein or lode; hut1
no location of a mining claim shall hej
made until th discovery of the vein or,
lode within th- limits of the claim lo
cated.'
"UnileT the above provision': it Is clear;
that there must he a discovery r.f a vein'
or tod containing a valuable mineral de
posit "in TCasf Tintlc Consolidated mining
claim the department held nt pa- 273:
" 'Bv the term, "v ein or lode." as used I
In the foregoing, the departmeni is not
to he understood as having in mind!
merely a typical fissure or contact vein,:
hut rather any fnlrly well-defined SOna
or heii of mineral-bearing rock In place.'
"It Is evident from the record before j
n-ie departmeni that the deposits alleged
to have been eoosed on these claims ace,
regarded by the applicant as possessing
practically no economic value, hut that ,
on the other hand title to the claims Is
sought essentlall-v on account of tl
possible value for certain unexposed
posns supposed 'o e- isi at considerable
depth beneath the surface, and havlngl
DO connection. SO far as shown, with any
deposits appearing on the surface. t
expostire, however, of substantially
worthless deposits on the surface of a
claim; Ihe finding of mere surface indi-
ration? of mineral within its limits; the
discovery of valuable mineral deposits
outside the claim , or deductions from I
established g-ooc ic.-( f;(cts relating to
It. one or all of which matters may rea
sonably give rise to a nope or belief, how
ever strong it may be. that a vnluable
mineral deposit ovists within the claim.
Will neither suffice .is 8 discovery there
on, nor be entitle, tO be accepted as
the equivalent thereof. To constitute n
valid discovery upon a claim for which
patent is sought there must be actually
and phv.-jcalh exposed within the limits
thereof a vein or lode of mineral-bearing I
ro.-k in place, possessing- in and of ii-l
self a present or prospective value for
mining purposes; and before patent can
properly he Issued or entry allowed there-,
on, that fact must be shown In the man
ner above slated.
Called Evolutionary.
"This was not a holding that there
mu.-i be a discoveiry of ore of commercial 1
valu.-. The conditions present were, as!
found bv the department, that upon the
Surface there fo slight mdi. ntlons. of
minevai such a.- would not warrant a rea-1
Ronahly prudent man in spending ills'
time ana money in an effort to extract
mineral, but the geologic conditions v. ere
Stlch us to Indue- the hlief that at 0
greater depth there vas a valuable de
posit of mineral. Such a belief. It was
he'd, could not be accepted as a discov
ery. The decision was not revolutionary
hut was aii evolution from the prior de - 1
cisiona anri regulations of the departmeni
It Is proper to stn thai a motion for te-
n earing in this case has been filed an,i
that there are other cases pending in
volving like questiona
"In tho case Ol ihe Sliver Jennie lode j
(' L,. D., 6) it appeared that there was,
a vin or lode upon adjoining ground
wh.-h the applicant for patent believed
to cMend into the Silver Jennie claim,
but it. had not been actually disclosed
and on!d not he disclosed without a
great deal of additional development, en
tailing a huge expenditure The depart
ment, however, was of the opinion that
this was insufficient as evidence of di
oovery, end held:
"Evidence a to the discovery of the
alleged vein or lode should ie furnished
showing the plac whore and when such
discovery was made, ihe genet, direc
tion of til lode or vein, and all the ma
terial fat In relation ih.-rt-to, ,
evidence shoold be clear and positive nd
based on actual knowledge and the' wit
nesses' ineann of information be clearly
ret forth.
The case of Castle v Wamble (It
L D 46t) laid down a rule which bs
plnco bnt-n followed by the department,
and has been quoted with approval by
th cot-.iv its syllabus reads:
"A mineral discovery, sufficient to war
rant tne lot ithui of a mining ' laim. and
the evidence shows that a person of or
dlnary prudence would he justified In the
further expenditure or , labor and
means, with reasonable prospect of
success tn developing a valuable mine.
"Tho department ha consistently held
that a mre bellaf Is not equivalent to a
discovery; aJso th fact that land Is ra-
I Vs Gray's Men's ShepJ
Off In Hotel Utah Of I J
I Sale SsM
OUR ENTIRE STOc
of This Season 's Choice
Suits for Men I;
Are Now on Sale at I
Vi OFF AtolL r
the REGULAR PRICE M fc
Gray's clothing has always Jm
been known as superior in VpyJM
style, quality and tailoring, "01
We can't carry these clothes over- lilW K
we must have fresh stock each sea- JJ 'Mmi$aJ f
son. First come, first served. All Km Mfm!M I
Dress Suits and Tuxedo Suits; all fcM yMVw I
IAorfolk Jacket Suits: aU English MM WfWkW W
Suits; 2-piece Suits; 3-piece Suits; mM A-'imm W
Blue Serge and Black Suits. None UWi iF
$20.00 Suits $13.35 flBI P
$25.00 Suits $16.70 1 Will I
$30.00 Suits $20.00 ill I I
$35.00 Suits $23.35 lB M E
$40.00 Suits $26.70 Iff 11 I
$45.00 Suits $30.00 f 1 1
Gray Bros. & Co. HgB MjkZM
?ew store jm, - :--iuf -:
In Hotel Utah
turned as mineral does not ohvlate the
necessity of a discovery. (Reims v.
Murray ' 12 L. D.. 109.)
"in Henderson et al. v. Pulton L.
D.i 662) the department considered a
definition of the word vein or lode. At
j)Hge 606 it quoted Justice Pield'a lan
guage in Qureka Consolidated Mining
company v-. PJ.-hmond Mining cOmpany
r I Sa wyer 302 1 .
"The min era made tl n definition first.
As used by miners, before hetng defined
by any authoritv. the lerm lode simply
meant that formation by which the miner
could lie led or guided -, il IS in alters -
Hon of the verb led: and whatever the
miner could follow, expecting to lind ore,
whs his lode
"The difficulty In the East Tlntlc cr4je
was. as found by the department, thai
the formation disclosed w.is not such as
to load the miner to find, or expect lo
find, any d"posH of ore therein, but that
the only real Indication Of a valuable
mineral deposit being found In that l?nd
vat his belief founded upon the geologic
conditions and mining development "( the
district.
"Paragraph n of th mining regula
tion" adopted larch IOoO:
"The vein or lode must he fully de
scribed. th description to include a state
ment as to the ind and character of
mineral the extent thereof, whether or
has been ex t meted and of what amount
and value, and such other facts as will
support the applicant's allegation that
the laini contains valuable mineral de
posit. Prior to the sdbptlon and enforcement
of this regulation, ihe evidence of the
existence of a vein or lode was in the
greatest percentage of case? ihe ax parte
showing of ft-e appltcanl for patent, whlcM
frequently was perfunctory In character.
The ?'-'-eptaiice of such showings by the
land office nnddubtedly ted to the issu
ance of patenis for mining claims upon
w.hleh 110 discovery o a vein or lode had
In fSct been made It t rather the en-
forcemenl or the e-i.itng law requiring
the discover-.- of vem or lode, than ny
Change In the department's regulation.?
thereof which has caused the difficulties
which gave rise to the adoption of Jhe
resolutions by the mlnio? echatige.
New Legislation N'icied.
The department it; of the opinion that
legislation, supplemental to 'he present
mining statute, u advisable. There are
areas of puhi- lauds in which mineral
deposits are believed to be contained, bul
which, if there, lie at gteat depth and
upon which dlSCOVerlei cannot he ui.de
without large expenditures, while under
the nvlstlntr 'aw .i valid o.-.-. t i.n cannot
he made until a discovery has been a"-
oniplished and the prospector 1 there
fore not hilly protected The depart -,ment
believes that legislation should be
enstcted authorising It to nrant permit
giving an Individual, or Individuals, the
exclusive right to prospect a certain
tract of public land for the mineral it Is
thought to contain for a limited oerod
Of time. Such legislation should contain
provisions requiring a certain amount of
annual development work as an earns si
of good faith, restricting the area and the
number of claims that could he held
under such A permit, and requiring wif'-i-tii
a limited period of time th purchase
or ieae from the United states of the
mineral d.-poslts retaining the fee ,,f the
bind m the United states, which c.-uid
then dispone of the surface as conditions
might warrant This legislation
nn tv..ii supplement senate hill N.. HIM,
now pending before the Hcnnte. which In
brief, .in to future locations, abolishes
evtralateral rights PMUlreS notices of lo
cation to he alSO fllcrl for recr.r.l with
the resist rr anl receiver of the propel
land c fe.ee and also requires final ontr"
and payment tn be mad- in eev,i ears
from the date of the location.
"Very respectfully.
"(Signed) PAMV15L C. ADAMS,
"First Aeelstsnt SearetArj'.'
I ALTA CON. SELLING
MORE RICH PRODUCT
Or top of having received a check
few days ago for $86 39.3 5 for a Id of
sixty-four tons of ore, which represents
th smelter-net value of same, the Alta
i onsolldated company has another lot
now being sampled, n i id another lot is to
be dosed bj tonight or the following
morning at ihe latest The company has
an even dozen teams hauling Its ore
down the Little c'ottonwood road, and
the mine is in such eood shape that as
many more teams as the management
can get together will not have arr.- loaf
ing time these bright summer days.
Nevadas in S.in Francisco.
lames A. Pollock Co.. bankers and
brokers, furnish the following, received
over their private wire yesterday after
noon I Bid. 'Asked'
Goldfleled l
Columbia Mountain $ .04
.ininho Extension .36 .36
Booth .08 I
Silver Pick .11 ,12
Lone Star I .04 ....
Oro I .04 I
AtlantH .21 j ,23
j r;rea t Bend I .04 7.
Ploranee I I
D' QeUJ- B. B. Cons 1 .07
".oidfteid Daisy I .ns
1 "omhlnatloti Fraction ... 13 ' r,
Kewanos .06
Spearhead .05 .,"'
OoldHeld '""on 4 3s
c. o. p ;io
Merger Mines ,31
Comstock
Opnir I l n;j i.i2j
Mexican 2.724 2 77 v
Gould - r urry I .0; Ips
("onsohdated Virginia . .. .54 I '55
Savage I j- ! " I
Male 5- .Vopeross 1 10
Belcher 4 ;;;;;;;
Confidence I .45
Sierra Nevada I .11
Union I .54
Challenge , ' no
PotoFt ' y'll''
Tonopah
Montana Tortnpah ' I.2S
MacNamara .24 " 'j
Mtdway 1 ' 43 1
Tonopah N'nnh Star .... 1 5 I
Weal i:nd "on 1 mj...,M;
1 Rescue . jg 1
Jltn Butler f "
Merger 55 j " jg"
Boston Tonopah : . 03
Idonarch Pitts, ex .11 . ,
U mat III . I .04 1 "og
Halifax . . I , 40 . .....
Manhattan
Manhattan Con 1 .20
G. Wedge j .07 '"".OS
Dexter OS n5
Mustang .A5 '07
Bit; Four 44
Mlm rni Hill Con 03 ".;"
White Caps 'jj
Other Districts
Vcvada Hills 3 no
Pittsburg Bllver Piak ... 1.2B ..! I
Kagles Nest ,03 (.,
Round Mountain . 40 1 '. . ". '. '.. 1
San Francisco Oil Stocks.
James A. Pollock & Co . bankers, and
brokers, furnish the following, receive!
over their private wire vesterday after
noon :
I Bid. lAsked.
Associated OU 'u.:io $
Caribou J 1,.,.,,
t'laremont j .(5J
Men t e Oris t o J 1.30
Nevv Pennsylvania 1 40
Silver Tip or,
S. W. & B ,?0 .... ..
Turner 5
JTc i
wesie!
FUEL (I
sssBBBBMPssaBHsaaH
Agents for fe;
Ming C
(Utah's Best Proikp
73 , MAB
Telephones Imk
stocks, soNDS,m
PROVISIONS, CiWi
James A. PoDoiK
BANKERS AND """jM
Duplex Sy6tem-On-J
St.- 'ks ; , n " :K '
Speclahsts ?&p2FM
d ',: v-
trie boay aPVn? SB
Dept-
COMMERCIAL
... hVSssssi.
S;l. ifm
and farther Pj
office. Hotel L