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Truth. [volume] (Salt Lake City, Utah) 1901-1908, May 23, 1908, Image 8

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85058310/1908-05-23/ed-1/seq-8/

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I 8 THE WESTERN WEEKLY J
I Mines and Mining
I The recent falling off in the price of silver has had a rather dc-
H pressing effect upon those mines where the white metal prcdomi-
H nates in the product. From all appearances last week silver was on
H 'the up grade, hut the market hrokc and reached a rock-hottom fig-
H ure hefore it hegan to recover.
H A number of the larger properties, such as the Silver King
H Coalition mines at Park City, were making preparations to open up
H (again to their old-time production, but in the unsettled condition
H of the metal market that much desired end has been deferred in-
H definitely.
H While silver has somewhat declined, copper has developed
H "strength and mines where the red metal leads the others arc in a
H very flourishing condition as compared with any period since the
H .great slump. The tonnage of copper ore produced has advanced
H iat a rapid pace, in some instances fully fifty per cent.
H The due hopeful sign of the week is the constantly recurring
H assurance that the United States Smelter will resume operations
H 'in the near future and thus give competition in the purchase and
M 'smelting of all ores.
H The opening of the Ontario drain tunnel at Park City has had
M 'a beneficent effect in local mining circles. Water is fast disappear-
M ing from the submerged levels in the group of mines surrounding
M Ithc Ontario, and already there is strong talk of resumption of work
M iat many of the properties.
H The newer mining camps of Nevada in which so much Utah
M capital is invested, have given forth excellent reports during the
M 'week. This is not wholly confined to the gold producers, but many
M of the copper camps arc entering the list of active workers.
M Though nothing startling has transpired in the industry during
U 'the week it has been a fairly prosperous one.
H PARK CITY.
M The annual meeting of the Silver King Coalition Mines corn
el !pany resulted in the election of the old officials for another year.
M i The report of the management showed the company with a fine
fl surplus on hand and the mine in excellent physical condition. Owing
B 'to the price of silver being below the danger point the mine will
m 'not be in the shipping column for some time to come.
H The affairs of the Silver King Consolidated have been entangled.
M I During the week the receiver has been discharged and the com-
tpany is making preparations to begin a strenuous summer carn
al Ipaign at the mine.
M One of the most sensational episodes in the old camp this
Uveek has been the strike in the Wabash. Development has been
1 going on in the No. 3 vein where a body of high grade ore was
H i uncovered. Assays give 485.4 ounces silver, 17.8 per cent lead and
H 3.85 per cent, copper to the ton. This is the possible beginning of a
M (new Park City bonanza.
H BINGHAM.
1 The week has been a humming one in the Bingham camp, as
M 'compared with those preceding it, and production of ore is incrcas-
M ling at a rapid rate. All preparations arc under way for the doubling
H 'of the ore output from the Boston Consolidated. At the present
M time nearly 100 tons arc being daily extracted, but before thirty
H (days have passed there will be a daily output of fully 2,000 tons,
H 'taken from the mine.
Work is being pushed on the Yampa smelter in the line of in
H stalling the new unit to the plant. When it is in place, which
H 'will be in the near future, there will be three furnaces at work and
B i more than enough ore in sight to keep them employed.
M The week has seen the completion of the new Bingham-New
H I Haven tram. The tram now runs down the left side of the canyon
H 'and is much better fitted for the handling of the ores.
The Bullion shaft and Jacob tunnel at the Bullion Liberal mine
H are both being pushed, and the Mystic Shrine mine has entered the
M lactive list, while the Eddie group, owned bv E. McCarrick is
M well under way toward that end.
The Phoenix mill has again been put in commission and is
H .turning out twenty-five tons daily. The ore is taken from the old
H .workings of the mine, which have been allowed to remain idle for
H 'some years. Ore as high as 40 per cent lead is being extracted.
H From North Bingham comes the cheering news of the rcsump-
tion of work on many properties. The Eagle Bird mine in that
district has recorded a strike of rich gold ore. Assays show values
M of from $100 to $300 per ton. This body was u.uovcrcd in the tun
M nel which is being run to develop the mine at depth. The strike
M was made 200 feet from the surface.
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