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The Ogden standard. (Ogden City, Utah) 1913-1920, February 21, 1920, LAST EDITION - 4 P.M., Image 14

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85058396/1920-02-21/ed-1/seq-14/

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I1!' I 1 II
I II , History Is repeating Itself will) a
, ! vengeance. It has raised the money
, shortage of the elOsO of the Civil War
j, d t0 ),e power. It demands a
I I)1 thousand-fold that mankind shall make
,, i, ood. And how shall II be dotlO'7
j ' f : '? During the world war men flung at
j -earth other two hundi'ed billion dollars
. r. worth of the world's wealth. JOvery-
v thing that they usftd In their snturnnl-
fh of destruction came from the
' -ground. They had digged the stuff
: from Mother tiarth only lo hurtle 11
,l ; "through" the air and bury It again lit I
p the soil of France. After the game is;
over It becomes time to pay. The
!k reckoning Is at hand.
In ; i' Naturally enough, when It comes
Cj' ' Ume lo settle, we think of money,
n ; 'When we think of money we think j
li , ' gold and silver money. Paper has a)
t : suspicious color when governments ,
t are tottering.
Gold production is dwindling. There
are other deposits that will be found
"hut they will be all too inadequate.
' Thus wc come to silver once more (
1 juat as the nation looked lo the fain-,
'I obs Coniatock at the close of the Civil i
War. That great lode put ?GO0,O00,000'
Worth of thb while metnl In circula-,
'!; ! Liion rind saved iho credit of the Un-'
It I , 1 ,iou. It is now the task of western
"!l . J '"America and the rest of the world to
! jtut several billion dollars worth of sll-;
' ' er In circulation and save the credit,
! ) 'Df humanity. Gold la over needful and j
i ' .will be sought diligontly, but oilvor.
;'J bec-uisc it is available will bf sought j
C ,! "frantically and absorbed greedily.'
I1, 1 j "There will bo no let up in the world's!
, demand for silver for another century.!
To put the proposition baldly and con-J
'I " -A'incingly, "only a fool would dare lo
! , , predict hov.' high the price of silveri
' . . ' will go, and by his prediction he will
14 ' betray His folly,
ij j 1 , With this preamble wo arrive at the
f. i absorbing drama of western mines to-
' 1 I ; day. W'e seo a wonderful sloiv Un-
V- folding as If by. magic. Men are
I 1 ! searching for silver as they never
! searched before. In spite of the fact
i i : that the warning has been sounded:
! , over sjneo. the very outbreak of the
: ' war, Iho mining industry has just'
i ' ; awakened lo (he fact that silver la the!
I ; most prerious of all precious metals. '
n ' It requires little imagination to
! , i ; ppeculalo on what this moans to the
I I " " states of the lniermountain country,
i . They are on the backbone of the con-1
( 1 i i (Incut where lite silver" shows. To them
Iff, C ' (he nation looks once more In the time
ij ' , of dlfe need.
(1,1;, It means a revival in mining that
I ( ' jj ; has not been experienced for sixty
M ' veirs. It Is not too much to say that
Ij ! w : (he need of silver will bring back the
I i 'j : big copper producers, If for no other
' ' reason than to get their sliver by-
fi 1 "J ' product. II means the revival of ev-
I . ( ; cry old silver camp In the west; It
j j means such a development of new
! ! i prospects as was never possible be-
y i l 'AvGry sliver camp In the west is
I l -booming. Utah districts are among
I ! ' I (he first to respond. To any one who
f. J' would like to know (he reason why,
j J ,j "the following table and careful niialyt-
I j, i IcAl discussion will be of absorbing In-
! ; , Merest:
V- j . ' "SIIVer Eestimated Demand Several
I 1 I Times Total Output.
1 1' I , "Traduction
I Vorld. U. S. A.
V ' i 1910 $15o.0U0.000 '55.000,000
l 1 1 191S 177,153.300 G7.879.2G6
I' .1911..; 228.7S7.8S3 60.390,100
I) ) ' -I3emand
I1 ' Reported Industrial
I f ' coinage. uses.
1919 300.000.00U 55,000.000
I 1 . 1918 29S'.537,5 15,000,000
II j Tho London or "world" price or sll-
I i i ver reached a record high of 79 1 S
vi I "i pence per ounce British standard. This
I ll would have amounted to $1.73 1-2 per
I W ounce for Amei-lcan silver, were Ilrlt-
IN 1311 U1U11U U1I11 lilt: HUllllrtl 'AV.ll.l llf.-
;' ' r'alue of 1S6.65 cents to the pound
! -J sterling.
,i T The coinage of the British empire
and the rest of the world excep! the
I , -United States has reached the point
! , k where the coin value of silver coins is
I ; ieti's than the bullion value of the met-
; ' ( al. An ounce of silver goes to make
l up 66 pence in British coins, but the
' j same ounce of British silver is worth
. ' over 75 pence for the metal a the
1 1 1 -market price of silver. This must re-
i. j '$ 1 suit in the melting down of British
Li i; coinage and Jta sale as bullion. The
); , British government has tried to pre-
j vent this, but prevention is impos-
,'i aiblrf. The exportation of silver from
1 1 1' ; Grea Britain has been prohibited ex-
Ml' j ;c'ept under license, Tho same condl-
i tion of disappearance of silver coIn
r W Sj ! age (as of gold), only worse, has long
L' i. j assailed France, Germany, Italy and
I, ''' j the rest of Europe and Mexico and tht
L jl Orient,
t J j " The remarkable silver situation fol
l 1 JcVs upon the withdi-awal of gold from
I i ' I general circulation There Is scarcel
I j 1 I ..onough total gold in the world to meei
the yearly interest on the war debts oi
Hi rne great nations, aii me nations,
H'i lllli! grat and Bmall, are hoard lug gold.
Hj III I The burden of carrying on the .
1 , world's trade falls more heavily on sll-J
H'j Jlllji 'ver and on paper. The expansion of j
H; jlljji j paper "money" accounts largely j
Hm( ji' though far from entirely, for the de-(
Hli! ilJ l I preciation of foreign exchange. It,
HH: lllli -would have been bad enough even be-i
Hji l I f0l'e the war to withdraw gold from
H( LI general circulation, and place on Oliver j
HLMnji I money and on paper the burden of car-!
Hjt i rying the pre-war trade of the world.'
Ull r l! lie Durdcn is now much lieavier ow-
l1) ililil 1 sns 10 the higher prices of goods and
T 11 mowing to the larger volume of goods
H( j It 'traded in.
'; 1 1 -, There are four great world demands
Hmilllii i' nf silver- Tbi"ee of the four, each of
11 'ill II t J-bm alone, requlro more silver than
Klil ill I' C orId can Possibly produce.
Hlll lllli I, These three great world demands for
Hlnlllll! silver are (1) to pay the trade bnl-
H I 1 1 -ncG dU0 BUch countrles as India, Chi-
HIU m I "a and ollier sliver nations that, for-
1 j tunatcly, will be satisfied to receive
Hlll'llllij IHlver instead of gold in payment for
their goods; (2) silver to act as a
j ! Ij h .backing" for the billions of unsecur-
lilil 11 d paper "money" issued during the
HIMIPiill "ar and variU6ly estimated at 12 to
Kinlijl I' "2 hilliohs of dollars at normal ex-
'ImIIi J II change value, and which must continue
KL'illlH 1 a vamelcfiS "shin-plasters" unless se-
H jj In p cured by either gold or silver reserves
Vll III r of some BOrt (3) sllvcr coinage de-
illllllli j mands. Demands enumerated here as
Hii llllll II numbers (1 and (3) have each year
'Mllli'l H n reccnt years, each of them alone,
H m, reqaired more silver than has been
Hi llllli 1 1 Produced or than is possible of produc-
l ! 11 Wo have PurPBely ald nothing ol
h!1 ill demaDd 8'1Ve' 'eWelry' ln
sllvcr plating, and in the film and
photo and other arts and industries.
World's Production.
The world's production of silver In
191 S was about IGO.OOO.OOO ounces. In,
1919 l( waft about 145,000.000 ollrtcea.
The maximum world production was
2-18,000.000 ounces a year In 1910-J911.'
That was When the great silver min
ing dihlrleia of Cobalt, Ontario, of
Tonopah, Nev , of Moxico and of Bri'.,
Ish Columbia and Broken Hill (Austra
llh) wre In their prlnie. All of ;hesei
districts have definitely passed their"
best days, except Mexico (and except
ing Mexico, only. aS regards the word1
"definitely'1), and it will bo utterly im
possible for Tonopah, Cobalt or Broken
Hills ever again to supply their form-'
or quota of silver production to the
world not unless a miracle intop
venes. Neither has any now silver
district come up in the world to re
place lhem. Such new districts as
Divide. Candelabra. Rochester and ,
other points In Nevada, and some of
the now British Columbia districts, can
act only like a drop In tho bucket in
filling the void created by tho decline
and approaching end of the great sil
ver producing districts of former days
In Nevada. Canada and Australia. And
as regards Mexico, "normal" produc
tion la impossible of attainment Tor at
loaat two years.. If ever. If Mexico
weio absolutely paclflod tomorrow, it
would take two years at least to re
pair her mines and smelting works'
and Tier transportation racllltle:i and
employ the necessary personnel, lo re-j
plai't her "normal" production of ten
year5 ago.
So much for the possible sources
of silver for the next few years to
come. Now as to the demand.
The first great demand for silve'
must bo to pay the net yearly trade
balance of about $100,000,000 due Brit
ish India yearly, and about half -as
much more due to China and tho rest
of the Orient. Formerly a quarter of
Iho trade debt was paid in gold, a
qu-irter in ad ver, and about half rep
lesonted in 'Moans" and investments
paper. It will he out of the question
to longer sink the world's scanty sup
ply oi gold in tho Orient; paper has
nearly reached its limit; .silver will
ha; to bear the burden, and the bur
den Is one of continually increasing
volume, due to Increasing trade dobt.
and Increasing Interest payments on
former leb!s and including the loan of
?50y.000.n00 made by India to Britain
dunng the war I
Over $200,000,000 a year will have to '
be paid in siher to India. China and
the. Orient, in net trade balance and
Interest payment., and that In, net, af
ter alloVlntt ror all the gold and paper
thoy can conceivably handle. That
wouul requlro (i00,000,u00 ounces of
silver a year at fonrtt-r prices of 50
ccntH an ounce for silver, or 200,000,
UOfJ ounces art, 1.50, or 150,000,000
ounces at f 2 " "pcf ounce. Whaiovcr
amount of sUlvcr the world can pos
sibly spare for India and the silvor
' nations will go to those sllvcr nations.
The price of silver will depend on the
amount of money owed and the num
jber ol ounces sihor possible lo send.
Most authorities look for a price of
silver between $1.75 and $2 an ounce.
Few who understand the situation look
for silver pricea between $1.25 and
$1.50 per ounce.
The world's coinage of silver mon
by must be revised. It has already
been revised by tho great silver na
,t!oH. such as Mexico and India. MoS
ico has twice successively altered hr
national currency, in November, 10 id.
and again October. 1010, placing less
llvr In her peso, for the purpose of
keeping tho coin value of the peso
moie nearly In keeping with the bul
lion values and exchange value. IndlB
has also "reorganized" the value o'
her rupee; however, not by placing
less silver in tho coin, but by fixing
a higher legal value upon the coin
The fixed value formerly was 1 anil
ling I pence, or 15 rupees to the Brit
ish pound sterling, or 32.4 cents, it
Is now 2 shillings, or 10 rupees to the
pound, by law, or about 38 cents based
on British exchange, but the silver In
th rupee Is worth about IS cents in
India, and the International exchange
value of the rupee in Now York Is
j about 45 cents. In China the Shang
, hal dollar commands about $1.60 ex
change value.
We have now pSlnted out that silver
1 ". j hi me oiiiipu empire is now
. worth over 75 pence for each ounce of
silver in the coinst whereas the coins
..are worth only 6C pence coin value.
.German marks, French francs, Italian
.jllre, Russian rubles, and European
; 3llver coins in general are much worse
:off than British, aa regards 'the coin
.; value being less than the bullion val
ue. New coin standards must impor
. atively be created. The new coins
i 'must contain less silver than the old.
- It means that, allowing for high prices
t for silver, the new coins must contain
f an amount of silver that would make
'it impractical to melt, the coins tot
;the bullion. It is generally anticipat
ed that between ?1 .75 and $2 per
.Jounce will be established as the new
n"par" value of silver, and new world
sliver coinage will be remodeled ac-'
cordlngly. Aready in the United!
States. Chairman Piatt of the house
committee on banking and currency;
has introduced in congress a bill to
create a new silver currency, placing'
less silver In the half dollar, quarter
and dime, and placing ?1.7777 as the
"par" value of the silver ln the new
coinage. i
Coinage Demand
The coinage demand in recenX vears
has varied from 220,000,000 to 300,000.-'
000 ounces of silver a year, by the
' minds of the world, and producing
l$300.000,000 to $420,000,000 of new
1 silver money. It is obviously out of
the question to keep up such a rale of
coinage. It is impossible to keep on
supplying such a quantity of silver.
'There will be less ounces available,
and then, to supply the world's need
ed new "change," each ounce or sil
ver will obviously have to command a
higher fixed value
' We come now to the demand for sil
;ver to act as a "backing" or reserve
behind the colossal issues of paper
I "money" put out during the war by
all the leading nations of the world,
oven including those nations not in the
iwar directly, nor even indirectly.
! Between $12,000,000,000 and $22,000,
'000,000 have been so Issued, as "fiat"
money, utterly unsecured That ex
i plains why the German mark has de
preciated in value to about 10 cents on
I the aollar, the ruble nearly as bad, and
I all foreign money, except the money
of the leading silver nations such an
Jhlna, Mexico, India, etc.
Perhaps half the total of war pappt
"money" will ultimately be wiped of
tho slate as valueless, especially th
paper of Russia and Germany. How,
evor. not less than 5,000.000.000. !);
mor.t conservative gueflfl. will have It
he "secured" by either gold or silver
or both gold and silver. Gold will
probably be out of tho question, If
silver can possibly be stretched to
serve tho purpose.
It is quite conceivable that the na
tions of the world may "go easy" on
Issuing new silver coinage, and instoad
buy great quantities of silver lo honrd'
in the national treasury as a "reservo"
or backing to validate tho huge Issues
of paper money. The great cry of
leading nations nowadays Is lack of
available money, money that will pass
muster Among other nations. It would
bo a titanic step forward to validate
the issue of unsecured paper put out
during tin' war. If a 25 per cent re
fervO could he set up In Bllver or gold
in national treasuries, It would nerve
to bring up about $5,000,000,000 or pa
per money to somowhore nearer pai'
value limn present greatly depreciated
values of the paper "money." A 25 per
cent reserve on $5,oOO,noo,OOU of paper
would requlro $1,250,000,000 In silvor
(or gold, or both silver and gold) to bo
built up In (he next few years, say ton
years, or $125,000,000 a year. It is prob
ably true that the leading nations
could better utilize all ver "money" In
this way, than In issuing great quan
tities of actual silver coins. Of course
a certain amount of silver coins would
always bo necessary onough to estab
lish some sort of par or fixed valuo
for silver. If the "par" value of silver
,bo fixed by new coinage regulations
or otherwise a I, say. around $1.75 per
ounce, or $2 per ounce, (ho nur.:bcr of
ounces of silver available would per
mil tne validation of a larftor and
larger quota of paper "money" as tho
value per ounce of silver goes higher
and higher.
nr.. I. ....... ..l ..x...1 rt llin
v L iiu v iiui n(LMi-ii iiiui.il ui inv.-
"commerclal" demands for silver in
the photo and rilm, the Jewelry and
plating, and other industries. Tin
United Slates alone consumes about
35,000,000 ounces or silver a yenr. In
this way. Tho total world. demand is
now between 50.000.000 and 00,000,000
ounces a year, exclunlve of jewelry
made and that consumed In India and
i the Orient.
' What the world needs nowadays is
some wizard or group of wizards who
can supply $30,000,000 a year in silver
to India and China and the silver na
tions; at leaBt 200,000,000 ounces sil
ver a year lo (he mints of the world
for cointage yearly; about $125,000,000
a year silver backing for at least ten
years to validate part of the huge is
flties or paper "money" put out during
the war; leave, say, fi0.000.000 ounces
'of sliver a year available for the mov
idf and commercial industries; and
'make a total world production or 115,
000,000 to 2G0.000.U0U ounces a year
"go round "
Only a fool would dure predict how
high the price of silver will go, and by
his prediction he will betray his folly.
- - nn' - -
I It is a source of wonder to mining
men who visit the north district or the
great Tintic mining camp and investi
gate its splendid surface showing, why
real development has been delayed so
long. All indications go to show that
the ore bodies are there, and with sci
entific, economical development, mines
can be opened that will wpll repay the
Investment of capital. The Lehi Tin
tic Mining company can bo said to be
the pioneer in this district, and while
much of the work done on this proper
ty has been of a haphazard character.
,ore has been opened in three places
; from the top or tho mountain down to
j within 170 feet of the present No. 4
'tunnel. True, the ore has not been of
a commercial -grade In sufficient quan
tity to permit or continuous shipments,
hut some ore has been shipped and
the opening or these ore bodies has
demonstrated that Intelligent work at
greater depth will In all ' probability
open a real mine.
Commencing on November 1 the
nrftnni.li' m'oc nlnnnrl nllilni' Mm iri-iii-
agement ol Charles Zabriski, who was
Identified with the Iron Blossom in the
Tintic district. On his recommenda
tion the dlroctors started a main work
ing tunnel as low down the mountain
as possible, with the object of inter
secting the north and south fissures
170 feet below tho No. 3 air tunnel
level This tunnol has now been'driv
or. about 800 feet and progress Is be
ing made at the rate of nine or ten
teet a day. The objective or this tun
nel, is about 1200 reet ahead, and before
reaching that distance it is expected
lo cut at least three ore fissures. There
is also the prospective plan that this
tunnel may be carried four or five hun
jdied Teet more, with the object or in
tersecting the Gold Blossom vein at a
depth or 1000 feet below its outcrop on
the surface, where considerable high
grade ore was mined years ago- Ev
erything about the property is being
coinducted in an economical manner
consistent with Intelligent develop
ment. The company owns some eighteen
claims, embracing 3G0 acres, upOn
which application has been made for
survey for patent. It also owns a
water supply sufHcient for all pur
poses, and this Is a big asset to any
company mining in that district.
Tho equipment consists of a 12x12
single stage compressor, a 40-horse'
power motor, three Clipper drills, one
water Leyner drill, one Anaconda air
hoist, air receiver, oil rilter and trans
formers, while in addition there are
the usual tools necessary ror making
emergency repairs, together with i
modern bunhouse for the men.
Much Interest is being taken by min
ing men in the development, of thia
property, as the opening of a paying
mine means, the addition of a large
Tho history of tho Floche district '
is well worth reading. There 1b a 'hrlUr
In ovepy ohaptoi'l tho glamour of'
wealth In every paragraph. It proves
(hat tho district is a locality vhcro 1
Nature has been prodigal with her
t'lcites. It Is a region Whore one would;
tuvi Instinctively when looking for v
great mine. It Is the location of tho j
1'riuce mine, the properly of (he I'rlnco
i Consolidated Mining Smelting eom-1
pany, which offers potonllal posslbil j
ltles scarcely exceeded by any mlno
In i he west. !
Although the first discovery 0t ail-:
ver ln tho l'loche district waft mildo in)
I8fi l, it was not until i860 that real
mining commenced. William ll. Ray
mond and John H. Ely entered tho
camp biok bought a claim on norvo,'
made It pay irom tho start, organized
the Raymond & Ely Mining company,
and in less than two years were pay-,
lug the stockholders $210,000 a month'
in mvidcnds. The gross production of
bullion In IMoche for the year 1S71 was
$3,505,400 and lor 1872 was $5,359,400.'
According to tho report of the state i
mlnerologlst ol Nevada tho mineral
output of the I'locho district during1
tho Keren years ending with 1S77 was
I329.7GC tons Of ore which yielded bill -'
lion or the value or $10,828,010. Tho
average yearly production during the
soven years period was 47.108 tons val-.
ucd at f2,loi,000. The average value I
of U"y ore wafl a trifle over $51 a ton.
A historian of the camp stales that
no less than 50 shafts "struck It Uch" '
and that with a bucket operated by a
wliirn a thouflimd dollars worth of oro
per hour was often hoisted for 21 hours i
or toe day. I
Not al or the ore, however, was rich
enough to atand tho 300-mile haul to!
the railroad. There was a steady ac-l
cumulation of mineral which, though!
high grade according to present-day
standards, was not shipping grnde un
der conditions prevailing at that lime;
To commercialize this class ot ore, (
mining ;ib iiucunssry. tuning rcqim-
ed water. The nearest supply of wa
ter In quantity was at Panaca, a Mor
mon settlement 12 miles from Plnchc. '
3o ll came about that the big mining
companies brought their mining ma
chinery to Panaca which resulted in
.the mill town known r.s Bulllonville.
Pan amalgamation was the process
used. The operators were satisfied
wim 40 to 50 per cent of t!:e gold and
75 to 80 per cent of the silver in the
ore. Half the gold and a quarter of
;the silver were discharged with the
j tailings. Year after year the tailings
: dumps with their sweetening or (ho;
prutioui metals grow bigger and big-'
The boom days ended with the de
monitlzatlon of silver and the occur-1
renoe at depth or complex ores which
j refused to yield to the treatment
I methods then known. Tho Raymond &.
Ely suspended operations at a dcplh of
1,300 feel and the Meadow Valley al
1.20O, after earning fabulous sums for
their shareholders. '
In recent years new capital has be
come Interested in theso mines. Mod
ern methods arc to bo applied lo tho
reduction of the ores, and there !; ev-
r reason lo hope that fresh fortunes
will be made Irom the famous old fls
Hur.M below their 1.200 and 1,300 lev-'
Over the low hills to tho southwest
ahouith tee miles rroni the town of
Ploehe is the Prince Consolidated
mine, in the "0's it was only a
pro-meet hole known as tho "Black
: Prince." John Ely of the Raymond
it Ely company, either made or pur-,
chared the location. In 1S76 Ely met;
W. S. Godbe, who was operating ai
snm'l smelting plant at Frisco, Utah.!
Godbe mentioned the difficulty he was'
having in gelling fluxing ore for his
smaller. i
NComc with me lo Pioche," said Ely, j
"and I will show you all the fluxing
I ore you need." ;
Godbe went. Ely showed him on the
Black Prince a generous outcropping
or Iron ore. It was Idtal for fluxing;
purposes. Ely thought there was en-'
ougii gold and silver with tho iron to'
justify the wagon haul to Frisco. God
bo's tests did not bear out this op
timistic supposition and he abandoned i
the hope of obtaining riuxing material
1 from Pioche.
I His visit, howovcr, had important re
; suits. The great wasto of values in'
i the tailings of tho Bulllonville mills!
vexed his soul and seomcd to chal
lenge his skill as a metallurgist. He
decided to try his hand at re-treating,
i the discarded matter.
There was no particular dirriculty
'in buying the tailings. It was a great
er task to procure the equipment neces
sary to handle them. Godbe succeed-'
. cd. however, in putting up a suitablo
mill and a small smelter. Tho re-i
suits justified his faith. The venture
was hTghly profitable and enabled him
I at his death to leave a comfortable I
(fortune and a valuable property to his!
While Godbe was busy at Bullion
ville the Prince claim was neglected
by its original locators. Their rights I
(lapsed and the ground was relocated'
" i by John Reese and partners. Thev, in
! turn, sold it, after doing a little more
pro3pecting, to William Lloyd and oth
' , er citizens of Pioche. More devolop
'mei't work was performed and a pat
; enl was secured from the United
' States government,
i Meanwhile the Godbe intercats at
Bullionville had been incorporated by!
, Mr. Godbc's sons as the Phoenix Re
duction company. Plans were afoot
to rebuild the smelter, now fnllen Into '
disrepair, and the question of fluxing
ore again came to the front. i
As their father had done years be-"5
I fore, the Godbe boys turned their at-i
'! tent ion to tho iron deposits of the
1 Prince tor a solution of the problem.
! territory to the already well known
! Tintic mining camp. That the ore Is
s ; there is conceded by all mining men I
; who have visited the properly, and !
i with the present expert, careful and!
energetic management the year of 1920
should see the faith or the stockhold- '
i ers realized and a producer added to
: I tho already large number o success
i 'ful mines in the Tintic cajap.
The owners wore willing to sell
Terms wore agreed upon and In 1900
tho ,Phocnlx Reduction company be
came the owner of the Prince claim.
The development at that time consist
ed of a vertical shaft about 150 reel
deep, an Incline shaft down 100 feet,!
connected with the vortical, and throe j
fmorl drifts. The claim was a mall
on.- being only 1,500 feel long and 200
feet wide.
The purchasers continued the sink
ing or the Incline shaft. Thinking they
were rollowiitg a Wide vein on Its dip
they were mystified by the behavior uf
the ore. It disappeared completely at
llmn.t. unit lhfn rirrtn In ii:iln i
No further steps toward the cotnple-i
Hon of the smelter at Bulllonville were!
t-ucn. Another mothod of dispgdlng of
the tailings presented Itself and tho
need of fluxing ore ihen ceased to bo
the Incentive for operating (he Prince.
Mining became the paramount aim of
the company as the reduction part of!
Its business went into eclipse. I
The Phoenix Reduction company!
Was reorganized ort a broader bams In
1007 as the Prince Consolidated Mines
fc Smelling company with a capital
Htock of 1,000,000 shares, par valttoi
$2.00. i
The new corporation took in. in ad-'
dltlon to the Prlnco and BuliiOnvillo 1
dumps, several mining claims adjoin-'
Ing the Prince. Work" was coiil'iiued 1
on (he incline, the rirst notable de-l
velopment boing In a crosscut from Iho
Incline designed to reach (he footwall
of the supposed vein or Iron ore. In-1
stead of the footwall the crosscut en;
countered a fissure filled with silver
an 1 gold oro undreamed of by the
ow.ivrs of the claim.
Slopes on tho flssuie yielded in a
sln.-t time $75,000 worth of ore. Tho
discovery also gave Iho company an
insight into tho real geology of Its
property, it was recognised that the'
incline, Instead of following ,tho dip,
of a great vein, had descended through)
a series of beddings emanating from!
tho fissure mentioned and from ar.oth-.
er similar fissure further to the north.1
Tho revelations changed completely1
the manner of development and open-,
ed the way for the extraction of flux-'
ins ore on a large scale. There was!
a strong demand for It from (he smol '
lers but. as in the days of the elder1
Godbe, the cost or transportation was.
prohibits c. j
me uiiiiionviiie tailings oeing near I
(he lailroad. were not so handicap-1
pel. In 1911 iho shipment ol the old
duilips was commenced. Fifty thous
and tons Were marketed and "brought!
the Prince company approximately!
$200,000. The completion of the con
traot loft about 100.000 ions still In tho I
dumps which, wlih a mill erected to!
treat them, are now leased on i roy-1
alty basis to a large metallurgical com-,
With the returns ironi the tailings
sold the company constructed a pri-i
vale railroad nine miles in length lo
the shaft of the Prince mine, thus solv-
ing the transportation problem. From
tin' time the railroad was completed ,
theie was a steady market for the ore!
which .contains, in addition to a heav j
preponderance of Iron, heavy values in
sliver, lead and manganese. From five!
to eight thousand tons were accepted1
monthly by the smellers, depending!
on their fluxing requirements. I
Development of the mine prove.l the1
existence of five distinct beddings;
from 5 to 90 reel respectively, in thick-.
nets, averaging 300 feet in width and
extending as much as 1,500 feet along,
the strike or the fissures. The two
fissures, except where their identity
wna lost in the beddings, averaged 3
feet in thickness and carried high i
grade silver gold ore which was stop
cd at a good profit to the company. I
We now come to the dawn of the
new era for the .Prince Consolidated
which places it among ihe biggest po-'
tentlal properties of the west !
jAjiiuiiiLiun wiui diamond drills has
proved the presence of additional bed
dings at 900 and 1200 feet from the
surface, ono with a minimum ihlck
ness or 12 feet and tho other 11 feet.
These beddings carry ore worth ap
proximately five times as much as the
fluxing ore In the upper beddings.
With the returns from its iron ore
shipments the Prince has increased
Its territory to twenty claims, con
structed a new vertical working haft
now 100 feet in depth, settled some
troublesome legal controversies,
brought its mechanical equipment
strictly up to date and paid its stock
holders $574,924.00 in dividends.
Among the present assets of the
co.npanj engineeers compute the quan
tity or iron-manganese ore now expos
ed In the five ufrper beds at 750.000
to:i3" from which a net return of $2
lo $4 per ton can reasonably be ex
pected, and the 100.000 tons of the
Bullionville tailings.
To this musube added the great
prospective tonnage which has been
demonstrated by the diamond drills
and which the company is going nrter
through the construction of the verti
cal shatt which was started last rail
rrom 100 reet above the water level
and which under the rapid contract
work or Walter Fitch, Jr., is now near
mg the upper or the two unexplored
bedding planes. These planes are giv
en a minimum prospective area or 300
reet in width and 1,500 reet in length
while the two high-grade Hssures give"
every Indication or extending into the
quartzite tar below the new bedding
Pertinent facts to he remembered
by anyone watching the progress of
tho Prince Consolidated are that tho'
company has already shipped 780,000 1
tons of ore and is now shipping at!
the rate of 5,000 tons per month i
The fissure veins that runs through
the mineralized section of the Prince
group and from which considerable
high grade lead-silver ore was extract-
Si?ovo . ihb water level (n'und
1912) go down strong below water and
give every indication of permanence'
ind productiveness. The first-class1
Dre produced from various chutes ini
these fissures assayed 150 ounces of,
silver. 54.20 gold, and 39.45 per cent'
lead; the second class assayed 48 Sol
ounces silver, $3.48 gold and 18.5 pdr
com load.
The camp of IMoche and, In fact, all
mining men of Uuth aro waiting with
much interest the development In iho
Prlnco As tho shaft ncars the first
bed piano at tho 000 level there Is
iniroKted speculation as to what 'the
bed Itsolf will contain, and there are
fascinating possibilities Indeed, al
Die juncture of (he piano and tho fis
sure veins.
Development of Vast Import
ance to Oil and Gas Produc
tion of Wyoming
Pipe Line Now Across the
Platte Will be Completed
by Mid-Summer Time
The Fargo Oil company, composed
largely of Ogden men. is among the
prosperous concerns In the oil 'fields
of Wyoming. This company's prop
el lies are located In the Poison Spider
Held, In which diptrict a number or
wells have been driven with marked
success and a pipe line is now being
built to convey gas to Casper, where
It will be placed on the market. Con
siderable gas has been developed in
this region and the Fargo company Is
ono among these to make a good show
Irg in this direction.
There is little question but what the
Fargo company's holdings are amohg
ihe most promising ones of the Casper
legion, success already having crown
ed ihe efforts or the corporation in it?
development work. Extensive Opera
tions will be taken up and it is expect
ed that by mid-summer tho line' will
bo completed.
Among the otricers of the company
are W. D. Weathers, president, ahd
Ben Hunsaker, rirst vice president, or
Ogden; Harvey Robinson, banker of
Medora, South Dakota, second vice
president; Marlon Rundon of Casper.
Wyominc, secretary, with Patrick Sul
livan, a former senator of the state
or Wyoming, and O. K. Deaver, cash
ier or the Casper National bank, di
rectors. With the completion of the $450,000
ten-inch pipe line of the Fargo Oil
company, from Casper to the Poison
Spider field, harnessing the stored ga3
and releasing in the iron arteries of
the pipe line, there lies a wonderful
community possibility, says the Cas
per (Wyo.) Tribune.
Fow people, even among Casper's
home folks, realize the tremendous
natural fuel stored in this close-by
Lying in a vast coliseum, a natural
ampitheatre, flanked by snow-crested
mountains, whose peaks are kissod by
the turquoise blue of the sky is the
Poison Spider field; a vast reservoir
with limits never defined, and where
nature's forces" havo packed count
less millions of feet of gas.
Tho early Argonauts, adventuring in
the field, have for many years known
of tho existence of gas, but even the
wildest dreamer has had but faint
imagination of the inlimited power ol
wealth and development or resources
that this gas has (waiting onlv the
pipe line) to bo captured, controlled
and conveyed, ror domestic and manu
facturing purposes to n-arby pcints.
With ' the laying of the first unit
of the twenty-two mile pipe lino by
t the Fargo Oil company, a vision as
I to what the future means to Casper
may not be out of place (with the
gathering lines from eth several
5.000,000-feet gassers, and In the cen
ter of the Fargo companv's oftl reli
able 40.000,000-foot gasser. coming
(into the main 10-Inch lines, follow
lin gtho mountain's edge for twenty
I two miles, to the river, then across
; into the city of Casper) will come the
!gas, feeding tho furnaces in th'e Mid
(West and Standard and then deploy
ing into the city to furnish fuel for
the homes, stores and many manu
facturing enterprises, which no doubt,
can be induced to Casper by virtue of
Its proximity to raw material and fuel
The Fargo Oil company has proven
I about 3.000 acres of approximatelv
9,000 acres of its' holdings In the Poi
Json Spider field. Six immense gas
wells and four oil wells are a .testi
monial of its energy and development.
The gas wells are big fellows and one
Is reputed to be a 40,000,000-foot baby.
Tho actual oil has never been fuliv
determined, but tests will undoubtedly
prove that the yield will be satisfac
tory. I It's the pipe Hue and gas that Cas
I per is interested in; the gas in the
Poison Spider that has been tapped.
The Inception of the dream is coming
true. The pipe line is laid across the1
river, all surveys have been made and
recorded, and the completion of the
iline will mark the day when Casper
twill enter into a new ora of progress,!
the fulfillment of which means a fu
ture Casper of 50,000 people.
This announcement, which carries
definite assurance that gas for do
mestic and commercial purposes will
be available in tho near future, was
made by W. D. Weathers, president of!
the Fargo Oil company, which under
Its reorganization last fall look over!
the holdings of its associate companv,
the Addison, in the Poison Spider'
riold. The company controls an-, I
Imately a dozen gas and oiuff0,1 f
that region with present tjrodU s
capnole of supplying tho dewandfi '
for years to come and prospect, S
the string of domes lying wlhl
Casper, contain an InoxhauatlblVL
ply for the future, 8 R i
The mills already are rbUInc iv. ' r
steel Tor the Casper line which n "
be built and owned by the Farg0 1 !
pany. No stepB toward dlstrltaM?
will bo made until the gn6 i bS
to Casper. m& .
The Fargo Oil company aeo
laying pinna for extensive dcrirS ,
ment work In the aouth ot Tex. I
New Mexico. In Texas the con4 k
! controls home 8,000 acres of pS
Ive oil lands In Coke and nMto '
'Counties, and in New Mexico it' VoiT r
i leases on 83,960 acres in tho vlc2 -of
Alamogordo, extending ihJ.y
several counties. Negotiations
said lo be pending whereby muZ I
capitalists will undertake lo tester
.this land through "checkerboanf
leasing by the Fargo company. t, I
j latter will thus secure the benefits u I
uch tests without drilling cxpetuv 1
oo . i
, jiiii!
j With a large amount of work Mr
going forward In the famous Ontub
property at Park City, which is Uk?
j cabled on principally by leaeers, mtsy
I exceptional bodies of rich oro ar
, ing round between tho 1500 and hfr
foot levels promising a long lcaiS
Ilfo for this veteran producer A tot
slant ly bettering metal market Mj
'speeded up the work and ore of ci t
eeptlOnal character z being bltctM i
out in many sections of the mine,
This great lode, which has bfe
opened for the better part of a rall ;
along the strike, and to -a depth ol
220u feet has been one of the plf-
notnenai producers of the west and a
still going strong. Its history is an It
, ter.ming one.
Development of -Ihe mine was flart
ed Irom (he outset on a broad Kile
as .i result of the great flow of wittr
,'de. eloped in the mine almost Iron
the outset of operations.
, The first long drain tunnel liritfa
1 into tho proporty was run on the to
foot level. This drainage anil tri
1 pOrt.ition tunnel was driven In till
from the Ontario mill, a ihatance ol
6357 feet, lo connect wlrfi the So.
3 shaft, and 500 feet beyond tbl
poin. thence 2700 feet west lo th
Da1. line and was later continued Ol
der working agreements between it
! companies Into the Daly and Dil;
I Wt-sl workings. t"
I As development In the shafts
tended below this levei to a po
whore glnnt pumps wore unable to I
properly handle the flow of water, is
omer and deeper tunnel was projects
and late in 18SS the great liir,nd ;
. which drains the mine to the 15ft
foot level In the No 3 shaft was un
dertaken. This tunnel Is absoiutek
' straight and is 15,490 feet long. It
fwa.j completed October 7, 1894, whea .
.the part driven from the mine ahafr
waa connected with (he pari drivu
1 from the portal three miles diatASU
1 the lotal cost being about $400,000 '
' Is believed this tunnel, which wrn5
'a big riow or water, drains
I of the drainage area, embracing its
I largo mines on this lode. The (ottl
length- of underground workincs l ;
the mine, exclusive or numenw' !
stopes and inclines, is about 50 mllef. f
I The upper two-thirds of the Ontario f
1 is in quartzlte, while the lower tmrfi
Is in limestone or marble The
, sures through the Ontario arc tUl j
and persistent with a trend northeiH
i an ! southwest and dipping norths k
'The Ontario workings cut a slrtt?. g
;per3litent fissure with two slrnU-'
ones which are accepted as spurs, N- r!
I though some "engineers regard thw
as different fissures of a different apj ,
lTh? are also two othor fissures- j
considerable size in the footwall cm i
try rock. The width, strike and dip t
the fissures varv in different pW f
in fie mine. The fractured znelY. f
rioud parts of the mine Is found w J
run from two and a half feet to a us-- J
dred feet in width. .
The ore bodies have all been .oa-- 1
within the fissures, varying In s'1
in different parts of the mine irom j
thickness the width of tho fi-SSUI?. f
shoots throughout tho breccia ,
the fissure. From the surface to w
proximately the 800-foot level, tneo
was mainly an oxidized rich i su
product From there to tho
lerel lead came in to it and " -lower
in value but still a hist i SJ
ore. From the 1500 level to tM .
est workings on the 2000-foot
thfi character of the ore genera
Iowi in value and carries consi j
able zinc
' J. J. Brummitt, 2417 Hu )
ton avenue, pays high1 jfT
1 prices for Liberty bonds.
Dance .Monday night, February
Informal and for Elks only.
ou t al
I buy Liberty oonds
highest prices. If roU f
bonds for sale see mc '
Brummitt, 2417 Hudson ,
nue. Phone 59.
O. FTlchell, whol
and retail Hay, Grain, .,
Bran, Mill Feeds and Potai
2466-2468 Wall Ave,
176-457. When in the rnjj :
get my prices. I ctf 4
save you money. ji
specialty. , If
Ever since Atlas held up I
there's been some fe''0 .Ue,ttac. I
he's "spellln" him for a ie ft,

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