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HomeMy WebLinkAboutZurich Herald, 1936-06-11, Page 6IV eat Longs aReavily On May Delivery Price Drops at Chicago as Futures Deals End CHICAGO —The swift collapse of an er:peeted "squeeze" in May wheat on the board of trade left the "longs" holding the bag of losses. Veteran traders wno watched the "Bettie of May Wheat" since its in- ' ception several months ago said it was the first time in the exchange's history that holders of wheat had been forced to accept delivery of cash grain whether they wanted it or not. A number of small traders were said to have been losing "longs" and there were indications that some of the "short" interest represented foreign accounts. The climax in the May wheat struggle occurred just before the fu- tures market closed, The price drop- ped 51 cents from an early high of 96%. Dealings in the May contract, under Way since last August, were terminated under a xiew exchange rule s;'hicli prohibits trading in any :future the last three days of the month in which it is deliverable. The rout of the "longs," who bought May wheat any time since August in the hope that war fears, inflation talk or crop disaster would enable them to sell later at a profit without actually taking the grain, was indicated by the fact th,: con- tract was closed out recently with- in 1% cents of the lowest level of the season and 17 cents below its high. The close was 90%I. which represent. ed the Maxinum 5 cents "per busk drop permitted in any one day by el'" Change, rules, TM ."aloe of Woo l To Agriultu c a a 1. Tho farmer with a avoocil �t h s cheap and convenient supply of fuel,- while uel,while the one without a woodiet has to haul wood Tong distances and make! a gash outlay to purchase coal Q wood and often the faruiliouse is ati� equately heated. ;. 2, Springs and wells that previo1is'I ly had a steady supply of water dry because the woodlot that wad,4 reservoir has been removed.' 3, The farmer has more dilfie lit to grow crops and wheat and elover kill out because thefields lack that: protection that is given by the wood.: land. 4. Deforestation on bilisid.es and ilews is often followed by erosion djsandy soil Is liable to develop in 1 .esless+ stand dunes. . Woodland helps to control floods it retards the saartace run•oli in all easons, ti, Scattered woodland iucroa5e coni - don zbly the beauty of a countryside. 7 The various factors mentioned have a marked influence on the mene- tary value of farms. Best Time For Study Students who figure it's about time to get down to serious study for the final examinations should be told that the hours between Sunrise and break- fast give the best results. — Kitchen- er Record. VOICE THE ! WORLD AT LARGE Canada of the CANADA THE EMPIRE SS Sound Advice A young man was is court at Mark- ham and the trouble was.he had been driving a ear with one hand. Beside him was a young lady and his free arm was twined about her. The chief A-. 1 VEIN REACH'' FIB'S LEVEL SPLIT LAKE GOLD Fifteen Foot Width Yields High Results A message received from the Split Lake Gold Mines prop- erty states that the crosscut at the -first level of the mine.shows 15 feet in width of highly mineralized vein containing over one ounce of gold per ton with some other metal which as- sayer believes to be platinum. Samples and check samples from along entire side of dump where ore is being dumped from full width of vein yields this result. Stringers of quartz could be seen in the shaft and in the sta- tion, The crosscut continued through this condition for 19 feet at which point it broke into the vein. Since the above information on the 15 foot vein width further word has been received that the crosscut is being continued and at 40 feet from the shaft was still in good looking vein 'natter. This means 6 feet additional to the 15 foot width referred to. The vein matter throughout the 21 foot width consists of mineral- ized quartz and heavily mineralized alterations. A telegram received from 1.1. L. Donaldson, May 16t'n states: "Crosscut 19 feet south at first level just broke into north aide vein Number 5. Very heavily mineralized and plastered with free gold. Gold coarse in sulphides. Will have another round out Sun.• day and will wire you details regarding width of orebody also assays." • F This vein has been proven to extend over a length of over 500 feet through diamond drilling with widths ranging up to more than 20 feet. Both diamond drilling and the pres- ent underground work have shown the vein to have widened greatly as compared to surface. The presence of platinum was not suspected and assay supplies at the property are not ample for a proper analy- sis of the combination of gold and what is believed to be platinum. `'Meantime samples are being sent to Ottawa for checking. Although no free gold was seen in this vein on surface or through the diamond drilling, heavy coarse gold was en- countered in the crosscut. The visible gold is mixed with ,,,the sulphides. Further information will be available from 'his level accordingly as the work proceeds. Another telegram from H. L. Donaldson dated May 18th states: "From 19 to 34 feet in south crosscut large percentage mineral- ized quartz in veinlets running every di- rection making sampling slow. Will have to sample horizontally and vertically. Assays result in combination of gold and what we feel sure is platinum plated in parting cup, after annealing, probably well over an ounce per ton. impossible for us to part the two metals with assay supplies here. Sending sample to Ottawa for analysis to determine proportion gold and platinum. Also sending parting cup showing our results after --an- nealing assay. Foregoing is from sample shovelled along full Iength of dump. Check assays give similar results." Another telegram from Mr. Donaldson, dated May -19th, states in part: 'Have cut another 2%2 feet of highly mineralized quartz with balance of 7 feet banded structure quartz apd alteration. Still in this condition. Going ahead with crosscut. This looks awfully good. Fur- ther study assaying trouble suggests large quantities tellurides. Gettint necessary sup- plies to flux telluride ore and make tests." CAPITALIZATION AND FINANCE Capitalization (No Par Valise) 4,000,000 shares Incorporators' shares issued 5 shares For acquisition of properties 1,340,000 shares Originally issued to the parent company Smelter Gold Mines Limited 2,699- 995 shares (including 40,000 shares contained in above iteral "for acquisi- tion of properties") leaving a balance of 2,659,995 shares. Sold from these for purposes of Split Lake Gold Mines tinged 535,138 shares The proceeds from the sale of these 535,138 shares have been received by Split Lake Gold Mines Limited. Unsold balance 2,124,857 shares Such portion of the said unsold balance of 2,124,85.7 shares as deemed necessary and advis- able by the directors of the parent company are available for future financing of Split Lake Gold Mines Limited. Over 1100,000 has already been provided for. the present enterprise. PRESENT OFFERING Of the above 2,124,857 shares 200,000 shares are being sold at 40c per share. A portion of these said 200,000 shares have already been sold. Applications are being filled in the order received but the risk is reserved to reject applications in whole or in part and also to award in any case a smaller number of shares than applied for. No commissions are paid or payable to officers or directors of the company on any sales of stock. NOTICE OF CLOSING THIS OFFERING AT 40 CENTS PER SHARE WILL POSITIVELY BE CLOSED TO THE PUBLIC ON OR BEFORE THE 6th DAY OF JUNE, 1936. MEANTIME THE RIGHT IS RESERVED TO DIS- CONTINUE THIS OFFERING AT ANY TIME, W ITHOUT NOTICE. PLIT LA HUGH C. McRAE, President Toronto, Ont. INES LIMITED Capitalization --- 4,000,000 Shares (No Par Value) OFFICERS AND DIRECTORS GLEN A. REA, Secretary -Treasurer W. S. KICKLEY, Director Toront o, Ont. Winnipeg, Man. HARRY L. DONALDSCON, Managing Engineer ' DANIEL 1. JARVIS, Director Toronto, Ont. Tel e,Phone: Elgin 6696 Thornloe, Ont. HEAD OFFICE: 1104 BANK OF HAMILTON iiLDG., TORONTO; CANADA To SPLIT LAKE COLD MINES LIMITED, 1104 Bank of Hamilton Bldg., 'Toronto, Canada Kindly forward prospectus, managing engineer's report, map and full information on ;Split Lake Gold Mines Limited. , Name ..... Address Q Chi Q o a. au r� R' s ; il c' Gentle*en 4, ^ °�' Stoek ;lf. SI.UerebPLIT LAmake application E x GOLD MINES LIMITED sharesor (4,000,090 shares)dital •O et) w g 8 o at 40 irrents per share; '8 a r is Enclose please fund the sun; of Dollars ° +' 0,'cd this day of , 10$ 1C ly:lissue ,;said mail these *hares to: Nartae ,n Addie To SPLIT LAKE GOLD MINES LIMITED, tad Office: 1104 Bank of Itamilton Bldg., Toronto. All Moneys to be paid to the Company. constable of the, place saw him and then there was the deuce to pay. He had to be brought to court, made to part with $10 and every person would know about it. But the magistrate, W, B.. Mcilveen. did not stop there. He told' the young man something. This way: `'The next time you better pull up at the side of the road and use both arms in the old-fashioned way," And right there we are moved to a feeling of admiration for the magis-3 trate of Markham. He has a know-) ledge of human nature; he seems to know what Spring does to young men and maidens. He bas one eye on the law to see that it is not broken be-, yond repair, but he also has a bit of consideration for young people who are bent on a bit of courting. — Peter- boro Examiner. . Still Hope For Peace To look for the restoration of Etht, opian independence now or for peace terms dictated by the League. may) appear fantastic and would perhaps), involve the end of Mussolini's regime.; Yet the expectation of lasting peaces in Europe appears to rest largely on., that perhaps extravagant hope. if the' war proves to be an economic disas- ter for the winner—and it will so prove if Mussolini cannot get help to paying for it — the peace advocates in Europe will have new and stronger .ground for their attack on the fever- ish war preparations now proceeding and on the nationalistic tariffs which have nearly destroyed European trade. —Winnipeg Free PrPGs. English Will Last It has been one of the distinctive characteristics of the English' lang- uage that it has accepted contribut- tions of value regardless of the orig- in. American contributions are not more numerous nor basically different from those already taken from Greek. Latin, French, German, Scandinavian, Arabic and the Oriental languages. The United States may enrich and modify the language, but it will pro- bably remain the English language. wherever or by ,whomsoever it may be spoken. — London Advertiser. Farming As A Job Contrary to the opinion of some people, farming isn't au occupation at which any Tom, Dick and Harry can come out on top. In these days when so much stress is placed on the qual- ity of farm products, and the prices are such that the farmer's margin of profit is quite small, the successful agriculturist must 'apply not only the brawn but the brain as well to his work. Miss Macphail put it very well when she said' that — "People think that any fool can farm. They think all s farmer has to do is to scratch the earth and sow some seed. Actually, a successful farmer must be a good ad- ministrator, a good executive. He has to know everything; he must be a hor- ticulturist, a cerealist, a stock breed- er. Running a farm is no job for an amateur", Miss Macphail alight also have acid - ed that the farmer must be an optim- ist and a bit of a gambler. }Le is ne- ver sure how his crop is going to turn out. Unfavorable growing weather can nullify his efforts to a great de- gree in short order, and then he has has to make the best of it by carefully planning a way out of the difficulty, if possible. — The Kitchener Record. The Comic Strips In the main, the Leader -Post in- clines to the view that most comic strips are entertaining without doing violence to anyone or anything in particular. The grammar is often a little loose deliberately so — for often the persons are not grammati- cal persons. They might not be very entertaining if they, were. • Sometimes we think the spelling xnight,be improved; it sometime does' look worse than necessary. And the worst of it is that a news- paper can get enough bad spelling without ]raving to buy it room a syn- dicate. Better Teeth Ontario Dental Associatioxir is told that during 25 years there has been among children in Toronto schools a reduction of from 97 to 07 percent in defective teeth. This is encourag— ing and it indicates what may be done by persistent campaigning for great-, er attention to the teeth of growing boys and girls. It may be noted that young people nowadays have tar bet- ter teeth than those of a generation ago. This is real Progress. "-- Toronto Globe, • Note Froni The West Mosquitoes are on the wol:Path, and, spoiling the walks �abroa:d, our golf; and other outdoor pursuits. tieg Tribune.