Show Park Utah Stockholders To Elect Directors I Reelection of five directors and election election election elec elec- tion of or two nb n.b. Salt Salt- Lake men menas menas menas as new directors ar prop posed sed In a proxy statement mailed Monday to stockholders ers of or the Park Utah Consolidated Mines company Continental Dank Bank building for forI forthe forthe the annual stockholders' stockholders meeting to be beheld beheld I held May at 11 a a. a m m. at the comI company's company's com com- pany's office I Special interest Is attached to the meeting because of or the recent purchase by Anaconda Copper Mining company ofa of ot ofa ota a privately-owned privately block of or shares raising the company's holding in Park Utah to shares In soliciting proxies for the annual meeting the Park Utah management said such proxies would be voted for tor J J. J O. O Elton Clyde E E. E Weed Lawrence Fox 0 O. O N N. N Friendly Adolph G. G E. E Hanke E. E O. O Howard and William W W. Ray Mr Howard president of the Walker Bank Dank and Trust company and Mr Ray member of the law firm of Ingebretsen Ray Rawlins and Christensen were i nominated as all new directors The proxy I statement said each was the beneficial owner of shares of Park Utah stock as of April ii rhe a All AU proposed directors are of Salt Lake City except Mr Hanke who lives in Carmel Carmel Carmel Car- Car mel California and Mr Weed of New NewYork NewYork I York City Mr Hanke a a. director since was shown to be the beneficial owner owner of shares Mr Weed general I manager of mines of Anaconda was elected a director to fill a vacancy on onI the board last December and was shown I to own shares of Park Utah stock Mr Elton a director since 1925 Is general manager of the International Smelting and Refining company wholly- wholly owned Anaconda subsidiary and is be beneficIal beneficial beneficial be- be owner of shares of Park Utah Lawrence Fox president of Park Utah and a director since 1927 was shown to be beneficial owner of shares of Park Utah and 32 shares of the Daly Mining company and 10 shares of the 1 I Weber Coal company subsidiaries of Park Utah Mr Friendly Park Utah vice pre president I and general manager and a director since 1935 was shown to be the bene bene- I I i I I owner of shares of Park Utah shares of Daly Mining and 10 shares of or Weber Coal It was stated he received from Park Utah for his services in 1941 Two yo Dropped Not proposed for tor reelection as directors dIrectors directors tors are Charles Lange of Cincinnati and Mrs E. E B. B Tobias of or Salt Lake City Both Doth were believed to have sold their stock to Anaconda Only stockholders of record April will be entitled to vote at the annual meeting There are shares outstandIng outstanding outstanding out out- standing and shares in the trea trea- sury Accompanying the proxy statement was a report of operations for tor the first quarter of this year showing net Income of or compared with in the thelast thelast thelast last quarter of 1941 Ore sales totaled and total Income was Operating expenses were leaving net operating income of The company a a. silver sUver lead and zinc producer in the Park City district es estimated estimated estimated es- es it netted in the first quarter about from premium prices paid for tor ore production in excess of the quota set by the war production board for lead zinc and copper effective February 1st Depreciation was estimated at for tor the three months federal income tax and state taxes 2000 Current assets on March were an increase of over over December 31 t Current liabilities increased In Increased Increased In- In creased to After adding supplies at the mine net working capital capital capi capi- tal talon on March was against on December I STORY OF or PIONEER I LEAH LEAD MINE MISE TOLD TOLl The first mining In Utah has long been associated with Colonel Patrick E E. Connor and his soldiers who are re responsIble responsible responsible re- re for the development of many mines after 1862 1882 Most mining histories consider the West Mountain District of 1863 the first organized district in Utah Actually however the Mormon pioneers practiced mining as early as 1852 The Utah Writers' Writers Project has already chronicled the story of ot the Iron Mountain MountaIn Mountain Moun Moun- tain Mission of 1852 demonstrating it IV the first practical mining in Utah Utan and now the Project indicates that the first organized mining district In Utah was the Lincoln District in the region of Minersville organized in 1861 According to the L. L D. D S S. S Journal History Tarlton Lewis William Barton and Isaac brought some spec specimens I- I mens mena of or silver lead ore to Brigham Young November 12 1858 Shortly afterward afterward afterward after- after ward James Rollins joined these men and under orders from Brigham Young who like war production officials t today bullets was wasp seeking seeking metal for bullets they opened the Rollins mine in the Miners- Miners Villa region A rough tough smelting furnace was constructed and according to James Rollins' Rollins autobiography the first bar of lead smelted weighed 60 pounds Rollins states further that it was carried to Salt Lake City and sold to merchants at 25 23 cents per pound Further shipments were made and a Mr used large quantities quantities quan quan- for the manufacture of white lead for paint This early attempt proved fairly successful and according to a statement from Steven Barton Darton of ot Green Green- I ville vine descendant of William Barton Darton a district was organized in 1861 known as the Lincoln District This information I squares with an account by 8 S. S A A. A Kenner Kenner Kenner Ken- Ken KenI I ner Utah As It Is Is j I According to the sources the mine gradually ceased to be a paying proposition proposItion proposition tion for as depth was ned the ore became harder and harder arder This ThIa made It almost impossible to smelt with the primitive equipment at hand The IncreasIng in increasing increasing In- In I i creasing hardness of the ore was rightly I I divined as owing to the presence of increasing in- in IncreasIng increasing in In- I I creasing amounts of or silver sliver in the ore 1 I but the pioneers had no means of I separating the two metals GraduallY the ore became too hard for the econ econ j j molding of or bullets and the enterprise enterprise enter enter- prise v waS as abandoned in the early sixties LOCAL LOC STOCK SALES 1 THURSDAY Y a I No local stocks changed hands on Sal Lake Exchange today today prices prices were lower along the line FRIDAY Y The lone local today was Silver Sliver King Coalition One Coalition one hundred selling Q off off ten cents On the curb New curb New Quincy squeezed in with a sale of 1000 4 s of a cent ent Great stock sales these days 1 I SATURDAY New QuIncy was the only stock traded on Exchange today today 2000 2000 selling of ofa a cent MONDAY Hurrah The Hurrah The New Park was the star tar performer on the Salt Lake Exchange to today to- to day day It It hopping up 3 cents cents selling at and an odd lot of selling for It it was the only one of seven Issues traded to advance in price price closing closing 0 29 28 dents bid 30 cents asked Two other local stocks found customers custom custom- ers I Park City Consolidated Consolidated 1000 New 2000 Quincy 2000 going over the counter for i of a cent Total volume of business for the day shares TUESDAY Today New Park was the most active on Salt Lake Exchange Exchange tux Six separate lots I aggregating shares going an odd lot of 30 shares The stock closing a jC bid and asked A good day for the New Park Park and and accordIng accordIng according accord- accord Ing to reports even better days during the coming month I t This was the only local stock to at attract attract attract at- at tract attention I On tho the curb Park curb Park City Consolidated Consolidated- WEDNESDAY I War news and decisions practically put the Salt Lake Exchange to sleep sleep sleep- the lowest volume perhaps for several years was experienced only experienced only two Issues Ues were traded traded total total shares sold were an even eveh seventy Park city Consolidated Park Utah Keetley Park Utah Consolidated New Park Silver King Coalition con Park City Utah Total |