OCR Interpretation

The Wallace miner. [volume] (Wallace, Idaho) 1907-current, February 27, 1919, Image 2

Image and text provided by Idaho State Historical Society

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85007266/1919-02-27/ed-1/seq-2/

What is OCR?

Thumbnail for 2

An optimistic financial letter writ
ten by James D. Crowley, a wel);ji
known Boston broker and financier,
piedicts a "peace boom" which Is due
to be in full swing by the midsummer j
of the present year. Under the cap
tion of "How and When Will This
Peace Boom SfUrt," Mr. Crowley out- .
nnes a program that sounds good, and
!:i» reinforcement of the argument has h
a ring of sincerity to It that is stlmu-jthe
"As to 'how,'" he says, "the psy
chology of the situation, the univers- j
ally present American optimism, Is
A period ofjest
the fundamental answer,
expectancy 'prosperity wards! is now j
working and will soon advance fromjcnttle
the 'half speed' of the after-war days
of peace ,
to the 'full speed ahead'
times. There is ft ruling,
spirit of hope, optimism and prosper
ity abroad in the land.
"The file leaders and the rank and
file of the American people today are
sanguine, optimistic, talking and
breathing prosperity. Not the Imme
diate prosperity of Inflation, but a
quiet, contained feeling of confidence
in the outcome of things notwith
standing the clouds that hang around
the horizon."
These Impulses are being reflected
by the interviews, magazine and the
newspaper articles by the leading cap
tains of Industry, bankers, university
professors, statesmen and men in
high places throughout the nation.
Mr. Crowley says. He quotes A. Bar
ton Hepburn, chairman of the advis
ory board of the Chase 'National bank:
"1 am an optimist and 1 do not think
there Is room for any one but an op
timist in this country. I look for
continued prosperity."
Judge E. H. Oary, chairman of the
United States Steel corporation, says'
"I look for a protraction of fair busi
ness, with Increasing volume, tending
toward great success and prosperity."
Long Period of Prosperity.
George M. Reynolds, president of
the Continental and 'Commercial bank
"AVhen all things
it is reasonable to
of Chicago, says:
are considered
suppose that there will be a long per
iod oif continued prosperity."
Frank A. Vanderlip, president of
the National City Bank of New York.
says: "In the long view 1 look for a
long period of great business and it
is a good policy to plan for that."
These opinions are substantially in
dorsed by William A. Low of the First
National hank of Philadelphia, Thus.
A. Edison of Menlo Park, Brig. Gen.
Thomas Tripp, chairman of the board
of directors of the Westlnghouse
Electric and Manufacturing company:
John Skelton Williams, comptroller of
Thomas E. Wilson, ot
the currency;
the Wilson Packing company, J. Og-'
den Armour of the Armour interests,
W. B. Dickson of the Midvale Steel &
Ordnance company, President Farrell
of the United States Steel corpora
tion and John G. Jones of the Alexan
der Hamilton institute.
This volume of testimony from men
of highest authority points to the
coming of the "peace boom,"
Crowley writes, and reflects the state
of mind prevailing among the people
tlie gulf to tlie
of tho country from
lakes and from ocean to ocean,
in a concert pitch sounds the affirm
ative from the highest uutjiority.
When It Will Corns.
As to "when" the big prosperity
will start, he writes:
"The time of the arrival of the
'peace boom' is more difficult of def
inition, but, like the 'how,' it is also u
question that Is more or less wrapped
up In the psychology of the situation.
The period of adjustment necessary
to bring this boom to pass has been
fairly entered upon and in fact at this
date it is in a more advanced stage
than most people realize. This ad
justment is gathering momentum
from day to day. Tlie accelerator Is
being opened wider each day and the
speed of the movement Is moving up
"Problems we will always have—
like the poor, and some other people,
they will always be with us. The
money supply problem, the labor
problem, the railroad problem, the
price of food problem, tlie socialistic
problem, the bolshevik problem and
the international problem-all those
arc truly of pith and moment, and
dominate at this time, but problems
are not new to the American people.
"We have been coming through
them for many years, many of them
as hard and difficult to solve as these,
none of which were insuperable ob
stacles in the way of the American
people, and without doubt these sup
er-problems will eventually be solved
also and In their solving there will he
nothing placed in the way of the com
ing peace boom In finances which will
be required in part in the process."
'In Early Summer.
In a strong recapitulation the pres
ent financial situation in the country
Is outlined by Mr. Crowley- as fol
"Our opinion is that by early sum
mer this country will be on a full
boom footing. We submit only our
opinion, yet do It advisedly. It is
clearly impossible to dogmatize about
such a situation. We believe that the
labor market, when equilibrium Is j
fairly under way, will prevent an
ov er-supply of labor and widespread
unemployment. We believe that the
demand for labor will continue when
all the returned soldiers are back at
their old Jobs. Remember this, please:
Before the war immigration brought
us in about 1,000,000 laborers a year
to be absorbed in our rapidly
War has curtailed the
ln *? industries.
supply and as soon as ample ships are
available for passenger traffic between
the United States and Europe we may
expect a still further curtailment be
icause of the flood of foreign-born la
;borers now in the United States who
intend to return to Europe. We be
eV e that 1919 will show us new rec
or ds of expansion in almost every line
0 f business. Great new markets have
n een developed and old markets have
iibeen reduced to a starvation
They are waiting eagerly for the
chance to expand. Free buying Is to
day a patriotic duty, instead of a dis-|for
oya i act, as It was considered during:
war. The farmers of the United
(states are prosperous as never be- 1
Ifere. They have sold their crops at
high prices. The wheat crop for next
(summer, which is to sell at the high
guaranteed government prices,
promises an excellent yield. Hogs rind
command high prices. The re
serve supply on the farms is greater
than ever before,
Stocks Are Depleted.
"Stocks are at low marks in the re
tail stores of the country and much
buying will be necessary to replace
them. Hardware stocks are said to
be at least 30 per cent below normal.
Furniture and house furnishings are
even lower. Groceries are in strong
demand. Collections are good. The
failure mortality among business con
cerns is running the lowest since
1884. There is an enormous demand
getting in line for all sorts of build
ing materials, such as cement, bricks,
building steel, builders' hardware,
plumbing material, paints, varnishes,
tools, etc. This will dictate a rapidly
developing demand for house furnish
ings, such us floor coverings, drape
ries, curtains, furniture, gas and elec
tric fixtures, stoves, washing ma
chines, etc.
"The Washington government Is
doing yeoman work in urging manu
facturers to go slow in releasing ma
terials for which they can ultimately
find use. The world faces a shortage
of raw material for years to come.
The government statisticians and
those who occupy economic vantage
points of observation are warning
against dumping of 'rainy day' re
sources merely for the sake of imme
diate peace of mind. The government
is moving cautiously in releasing its
accumulation of raw materials and is
thus setting an example to individual
manufacturers and dealers.
"We believe the 'peace boom' will
start immediately with a rising tide
and by early summer will be washing
high marks."
Commenting on tlie recent state
ment issued by ilie secretary of labor
following the conference with repre
sentatives of employes of copper
mines in the west, Robert, G. Glmmell,
of Rail Lake City, general manager
of the Utah Copper company, had
this to say on the copper situation
through the Salt Lake Tribune;
Future of Copper.
This Is the summing up of the con
ditions which have brought about the
existing situation, but the present and
future interests tis even more than
the past. It appears that:
First—tlie using up of accumulated
stocks is progressing, even though it
may be slowly, in Europe ami Amer
Second—with the coming of peace,
northern neutrals and central empires
as well as the rest of the world, will
need copper and the manufactured
forms In which copper Is an import
ant part.
Third telephone and telegraph
companies have a large amount of
postponed construction work which
must soon be placed.^ i
kourth-with the coming of spring,
considerable construction work <"*7
be expected and orders will undoubt
edly he placed which require copper,
Fifth-with the better understand
ing of the very great increase in the
cost of production that lias occurred
"Whereas, we deem It to the best
Interest of labor and Industry in this
country to help remedy this tempor
ary breakdown of the machinery of
international trade; therefore, be It
"Resolved, that this meeting of rep-j|
they ■
the market.
In the last five years, confidence will
be restored to buyers and
accordingly, come into
probably at present level of prices.
Sixth—giving credits to foreigners
for exports will greatly facilitate the
marketing of copper and other Amer
ican products. This is now being con
The conference between the copper
producers and labor delegates, under
the auspices of the department of la
bor, also adopted the following reso
"Whereas, It appears upon reliable
authority that foreign countries have
great difficulty at the present time in
financing purchases of the products
of our country; and
rosentatlves of the labor of the cop- 1
per Industry do urge and recommend
that congress pass such legislation
authorizing government aid as well as
furnishing the necessary long term
(redits to facilitate the resumption of
our export trade in raw materials,
expand-jagricultural products, and nmnufact-i
ured goods."
"In the light of the foregoing," said i
Mr. Gemmell, "It is apparent that we j
can not continue to produce and fin - !
anee the production of copper which :
we can not now sell at any price, it;
was therefore imperative to reduce j
production, which action necessarily
carries with It an increased produc
tion cost. In other words, as the
production tonnage decreases, the cost
per pound of copper increases,
should also be borne In mind that our
costs have recently been and are now
such, that even if there was a demand
our output at present prices,
which there Is not, I doubt very much
that we would be doing any more
than swapping dollars, when the cost
of permanent upkeep of the property
is considered, and entirely regardless
of the fact that these high production
costs do not Include anything in the
way of return of investment for the
copper in the ground, which we have
paid for in the purchase and Improve
ment of our property.
All these factors considered, It is
an indisputable and irrefutable fact
that true economy of operation, or
what might be termed selfish interest,
calls for the closing down of the pro
perty until the restoration of normal
conditions. This we have no thought
of doing, and sincerely hope that such
action will not be necessary.
At Bingham we are continuing the
stripping operations, rather than lay
off men. Stripping means the remov
al of the overburden or waste rock to
This 'work ts always
expose the ore.
kept several years ahead of ore pro
duction, and the true economy of
present operations demands its cess
At Mugnu we are operating the mill
on a 50 per cent capacity. Inasmuch
all of the ore now*being produced
could be treated at the Arthur mill,
true economy of operations calls for
the closing down of the Magna mill.
It must toe clear that it costs pract
ically as much to operate the Magna
mill on a 50 per cent capacity as
does on a full capacity. The cost of
treatment is greatly increased by
this limited production distributed to
the two mills, when one mill could
treat the entire tonnage now being
produced. Should we close the Mag
na mill it would mean one of two
thingB, to-wit: either no work for the
entire working force at Magna, or
consolidating the Magna force with
the Arthur force and providing half
time work for the consolidated force.
This will not be done unless stern ne
cessity compels such action.
It is a matter of keen regret to me
that a wage reduction was necessary
at this time. 1 hope I have made it
plain that conditions in no way con
trolled toy the management forced
such action.
should be borne in mind
Utah Copper company voluntarily
made seven wage Increases between
August 1, 1914, and July 1, 1918. The
fourth increase was made on Decem
ber 1, 1916, and was based on a sell
ing price of copper at 2714 cents or
more per pound. Although the price
subsequently fixed toy ttie government
was below 27Ms cents per pound,
three wage increases were made since
December 1. 1916, to-wlt; July 1.
1917, February 1, 1918, and July 1.
1918, respectively. These ttiree wage
increases, amounting to $1 per day
for skilled labor and 85 cents per day
for unskilled labor, were based, not
upon an advance in the price of cop
per, but in recognition of the increas
ed cost of living expenses, and these
three increases still remain in effect.
In short, the present wages are based
or the sliding scale, assuming a quo
tation of 20 cents per pound for cop
per. and to the wages based upon 20
cent copper there is added the three
v age increases aggregating $1 per
day for skilled labor and 85 cents per
(lay for unskilled labor In recognition
of the increased cost of living. The
outstanding fact is that our present
wage schedule is today in excess of
the schedule which became effective
December 1, 1916, based on copper
quoted at 2714 cents or more
In this connection it
that the
The p ro foi e in before the copper in
dugtry to<ftv is the pre8erV atlo n of Its
PXlHtenPe , u Ig q^hting for its very
L fe us an j n< j U stry I always have
i been, and always will be an'optimist
i lR the industrial life of our
* nation; ! have no fear of the ultimate
results hut in the Ii)?ht of the facts
i pl . esen j ed „ must })e appa rent to
, eVery sane and rea „ onable peraon that
unt u J)pape
quarter for an Imported cigar,
g about her housework.
to pr
terms are definitely
j known anil normal industrial condi
tions reestablished upon a sound
i foundation, the ad interim period pre
sents grave and perplexing problems.
Calm judgment and mutual sacrifices
are necessary to tide over this critical
period and bring about a restoration
j of satisfactory and prosperous in
j dust rial conditions.
This matter has been the subject of
much correspondence between D. C.
Jaokllng, the managing director, and
myself, and 1 may say that, in ex
pressing the views herein stated. I
do so with the knowledge and ap
proval of Mr. Jackllng.
There are men who will laugh at a
woman for buying a nickel package of
chewing gum, then proceed to blow n
The more careful n woman is about
her complexion the more careless she
A new building was recently com
pleted for the exclusive use of the
New Jersey Zinc company. Tills con
cern, which has stood sponsor for
many new uses of zinc in various
forms, realized that for building pur
poses rolled zinc possessed many de
sirable features. Accordingly, plans
were made, when the building was
projected, to utilize sheet zinc in the
structure and to use as much zinc in
other ways as possible. This was at
a time well in advance of the ruling
of the war industries board which
called upon manufacturers, as a pa
triotic duty, to substitute zinc fo>
other metals in the nonferrous field
for a great variety of uses, says the
Engineering and Mining Journal.
Flashings, gutters, and all other
outside work upon the building are
made of rolled zinc, this material
having been substituted for copper,
thereby affecting a material saving in
cost. The substitution of zinc for
copper offers a new field whereby the
building costs can be decreased, and
the future should bring increased use
of this metal for the foregoing pur
poses. Sheet zinc is easily worked
and is non-corrosive and its durabil
ity has been thoroughly demonstrat
ed in Europe, where it has been em
ployed for more than a century.
Features of the Building.
Over each door of the new building
is carved a horse's head, the com
pany trademark. The entrance and
vestibule doors are constructed of
sheet zinc rolled on wood. The knobs
and locks are made of zinc plate, a
detail that is embodied throughout.
Zinc composition is the material used
for the hinges. Side (walls of the ele
vators Immediately inside are of zinc
construction. Likewise, the elevator
doors and bell plates are zinc coated,
giving a rich satin finish,
window hardware Is manufactured
from zinc plate,
looks and handles.
All of the
This includes sash,
A complete ven
registers were first stamped and then
zinc plated
' In the interior fixtures, zinc mater
. . .
ials are consistently employed. Jhis
metal is used in the hardware, in
eluding trimmings and fittings, of the!
_ . , ,
Paint, enamels ami tints that font
pose the interior decorations include
zinc oxide and "llthopone" (zinc sul-|in
,, ., ,
These are ordinarily used toy
the higher
tilating system is installed
out the building. The grilles for the
mail chute. Some of the panel doors
inclosing cutout boxes, enunciator
boxes and all low-tension work in the
electrical equipment are made of zinc
plate. The "lighting fixtures are also
zinc plate, and frames for the illum
inating lamps are spun from rolled
zinc sheets. Ornaments that are to
be found throughout the building
have been cast from zinc.
Amount of Zinc Used.
phlde-barium sulphate) as ingredi
paint manufacturers in
grade ipaints and enamels, however,
and their use is, therefore, not con
sidered unusual in
this structure.
Many of the furnishings to be used
designed to be in keeping with
the structural features of the edifice.
These include desk fittings and office
supplies, all of the materials for which
are products of the company,
applies even to the window shades,
which contain "lithopone."
The amount of zinc used in the
construction of the building is shown
in the following items: The front
doors contain 150 pounds; roofs and
gutters, 700 pounds; lighting fixtures
and equipment, 350 pounds; electric
switch plates, 175 pounds; outlets 45
pounds; hardware, 700 pounds, and
sherardizing consumed 100 pounds,
The utilization of zinc in buildings
as described in this instance is an
economic feature which is believed to
be susceptible of greater development
especially for household purposes.
Office of the Rainbow Mining & Mill
ing Company, Limited, 745 Peyton
Building, Spokane, Washington,
February 11, 1919.
Notice is hereby given that there is
delinquent upon the following de
scribed sitook on account of an as
sessment of two (2) mills per share,
levied on the 19th day of December,
1918, the several amounts set opposite
the names of the respective share
holders as follows, to-wlt:
No. No.
Cert. Shares Amt.
Anderson, Hans ....706 750 1.50
Anderson, Hans ....656 500 1.00
Anderson, Arthur ...707 750 1.50
Anderson, Arthur ...658 500 1.00
Anderson, Arthur ...959 2500 5.00
728 2750 6.50
400 1000 2.00
Cady, E W
Cady, E W
Chyden, Chas
Chyden, Chas
Clough, R S
Clough. R S
Clough, Mabel M ...588
Eide. Peter ..
Elde, Peter ..
Hinkle, Deboer
Hinkle, Delmer
Hinkle, Delmer
Hinkle, Delmer
Hetlen. Caroline ....772
Hellen, Caroline ....455
Jaquette, Walter P .780
Jaquette, Walter P .419
King, j
I^ent, Robj
Loffler, E Earl
l^itlonde, Ralph A ..689
Maker, Harold L ...810
Maker, Haro-ld L ...451
Myers, Rhoda
New-void, G P
New-void, G P
2 7U
7 7
2.00 i
2.00 |
4.00 j
3.00 1
2.00 !
2.00 i
, Walter P . 420
6.00 i
2.00 i
4.00 1
3.00 !
;«l- 1
2 7 1 1
5000 10.00
iven to Miners* and
P rospectors' patronage.
We Know We Can Save
You Money—Give Ui a Trial
496 1000 2.00
837 1000 2.00
99 1000 2.00
840 2260 4.60
508 500 LOO
499 1000 2.00
929 500 1.00
2500 5.00
531 1250 2.50
587 1258 2.50
214 5000 10.00
12500 25.00
10000 20.00
958 2500 5.00
By virtue of an execution in my
hands, issued out of the District
Court of the First Judicial 'District
of the State of Idaho, in and for the
County of Shoshone, in the suit of
James -W. Hutchins against Legal
Tender Mining Company, a corpora
tion, duly attested the 13th day of
January, A. D. 1919; 1 have levied up
on all the right, title and interest of
tlie said Legal Tender Mining Com
Newvold, G P
Peterson, John
Peterson, John
Person, Ohas
Person, Ohas
Person, Chas
Paulson,' Alyce
Richardson, Jesse A 626
Rahn, Fred
Rahn, Fred
Smith, W L
Schwabe, Win C ....567
Towles, Tiherrett ... 684
Watts, C R
And in accordance with law so many
shares of each parcel of such stock as
may be necessary will be sold at the
office of Therrett Towles, in tbe Gyde
Taylor building,
the 7th day pi
p. mi. to pay the delinquent 'assess
ment thereon, together with the costs
of advertising and the expenses of
Idaho, on
March, 1919, at 1:15
Secretary-Treasurer of the Rainbow
Mining and Milling Company, Lim
ited; 745 Peyton Building, Spokane,
pany, in and to the following describ
ed lode mining claims, situated in
Evolution Mining District, Shoshone
County, Idaho) viz.:
"Legal Tender" lode claim, located
j anuar y 19 th, 1891, notice of location
of which is recorded in Book "L" of
Quartz Locations, at page 99 thereof;
("Lizzie" lode claim, located October
110th, 1899, notice of location of which
j s recorded in Book "S" of Quartz Lo
cations, at page 475 thereof; "Gold
Standard" lode claim, located October
1st, 1898, notice of location of which
j, recorded j n Book "Q" of Quartz
[Locations, at page 483 thereof; "Gold
ett Key" lode claim, located October
1st, 1899, notice of location of which
is recorded in Book "S" of Quartz
Locations at page 305 thereof:
"Group" lode claim, located March
19th, 1900, notice of location of which
is recorded in Book "T" of Quartz
Locations at page 177 thereof; "Her
schel" lode claim, located October
2fth, 1902, notice of location of which
Is recorded in Book "X" of Quartz Lo
cations at page 240 thereof; "Frank
j lin" lode claim, located April 14th,
] 1898, notice of location of which is
recorded in Book "Q" of Quartz Lo
(Cations at page 350 thereof; "Pacific"
lnde p]alm located March 19th, 1900,
; notice of location of which is recorded
Book "T" of Quartz Locations at
page 176 thereof; "Hewett" lode
...claim, located April 2nd, 1903, notice
location of which is recorded
The Store That Ha* Stood the TEST OF TIME.
Established in 1886.
Fresh Stock Full Weight Prompt Delivery
Fresh Fruit and Vegetables in Season.
Phone: 194
606 Bank St.
When you bay
Sunset Bud
Your money stays
at home
The product is
second to none
Book "X" of Quartz Locations at
page 409 thereof; "Revelation" lode
claim, located August 31st, 1903, no
tice of location of which Is recorded
in Book "Y" of Quartz Locations at
page 18 thereof; "Thomson"
claim, located March 21st, 1903, no
ttce of location of which is recorded
in Book "X" of Quartz Locations at
page 408 thereof; "Loring" lode
Iclaim, located April 14th, 1898, no
tlce of location of which is recorded
in Book "Q" of Quartz Locations at
page 351 thereof; "St. Paul" lode
claim, located April 9th, 1900, notice
of location of which is recorded In
Book "T" of Quartz Locations a'
page 426 thereof; "Admiral Dewey"
lede claim, located May 13th, 1898,
notice of location of which is record
ed In Book "Q" of Quartz Locations
at page 397 thereof; and "Bell R."
lede claim, located November 10th,
18M, notice of location of which is
recorded in Book "K" of Quartz Lo
cations at page 567 thereof; all rec
ords of Shoshone County, Idaho, to
gether with all buildings, mills,
flumes, machinery and mining equip
went of whatsoever kind or charac
ter now situated upon said lode min
ing claims.
Notice is hereby given that on
Saturday, the 1st day of March, A. D.
£°of,! C f'
day t ' ,e ? tFeet
'toe County <a>urt house, in the City
°t Wallace, ? OU .m y iflii
State of Idaho, I will sell all the right.
title and interest of the said Legal
Tender Mining Company of, in and
to the said above described property
a' public auction to the highest bid
jfor cash In lawful money of the
United States, to satisfy said execu
tion and all costs.
Given under my hand, this
day of January, A. D. 1919.
29 th
Deputy Sheriff.
Subscribe to The Wallace Miner and
teep posted on mining.
Specializing Mines and Prospects,
Assessments collected, etc.
John F. Ferguson
Phone 88
Wallace, Idaho
Shothone Bldg.
Mine Contract Hauling
623 Cedar St.

xml | txt