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Show i Mil flj OF ti i ' V , r HH - tWt METAL PRICES . iCITY 1 -- - $ library' U IP y j' .A Lead (per lb.) 1 r ' . r Ztopper . ;. Zinc (per lb.) Silver (per oz.) new mined Features Mining, Oil, Financial A Vol. 24, No. lOCjV Salt Lake City, Utah, March 6, 1953 Tf J Listed Stocks Big Hill Bonanza Oil & Mining.. No. Standard Park Park Park Park Park Park Colorado Con !. Rexall Combined Metals Colb. Bingham City Con. Konold Nelson Premier Utah Plutus Crescent Eagle Oil Croff Crown Point Dragon E. Crown Point 08 Silver Silver Silver Silver Sioux Co. John M. Wallace, president of the Walker Bank and Trust Co., and former mayor of Salt Lake City, would be president of the new organization. Stockholders of the Silver King Coaln King West Shield Standard Mines So. Iron Blossom East Standard E. Tin. Coaln. East Utah Empire Mines : Eureka Bullion m Eureka Lilly Con. Eureka Mines Eureka Standard . King Coolition Mines Co. will hold a special meeting April 27 to pass on the consolidation proposal. Park Utah stockholders will meet May 5. The new firm would have a capital stock of six million shares at $1 par value. Under the agreement, Silver King stockholders would receive 1.25 shares of United Park City Hines Co. stock for each share of Silver King stock. Park Utah stockholders would receive 1.1 shares in return for each they So. Standard Sundance Oil .Co. Swansea CoTi4,ZL Tar Baby -- VV Untie Central Tintic Lead Tintic Standard (Sold Chain Grand Dep. Great Western Horn Silver Howell Oil Trans-Unio- n Utah Con. Utah Ida. Sug. Com. Utah Ida. Sug. pfd. : Utah-Wyo. Kennebec Con. Oil ! . now hold. Victor Con. Western Alloys Kentucky-Uta- h Keystone Lakeside Mon. Leonora Other officers selected should merger be approved by stockholders, would be Frank A. Wardlav Jr., general manager, International Smelting and Refining Co., and D. J. Pope, general manager, western mining department, American Smelting and Refining Co., aa vice presidents, and J. William the West Toledo Wilbert Williston B. Oil Yankee Con. Zuma ; Mng Unlisted Stocks Amal. Sugar, Pfd. Utah Fire Clay Utah P. & L. Cbm. Z. M. I Miners Gold . Mono Kearsarge Moscow Stoner as secretary-treasure- r. Hr. Stoner is now secretary-treasure- r of Park Utah. The consolidation agreement xlndicates operating companies. names the following directors: Total shares traded 759,362 Mr. Wallace, Mr. Pope, Mr. Dollar Value $101,283A8 Wardlaw, James E. Hogle, managing partner, J. A. Hogle and Co.; James Ivers, president. Silver King Coalition Mines Co.; C. Jay Parkinson, Salt Lake attorney, I. S. & R.; p. H. Hunt, vice president and general man, ager, Park Utah Consolidated Domestic mine production of recoverable lead decreased 1 Mines Co.; W. R. Landwehr, per. cent to 384,097 tons in 1952 and was the lowest annual output chief geologist, western mining since 1946, according to the Bureau of Mines, United States DeMost important meeting of department, A.S.&R. partment of the Interior. Decreased output resulted largely from metal engineers, plant departlower market prices for lead beginning April 29 which were ment heads and factory execubrought about by increased world-wid- e availability of lead and tives yet held in the west is scheduled for Mar. reduced consumption in the United States. in Los Week ending Feb. 28, 1953 BINGHAM Angeles. Production during the first DISTRICT, UTAH The combined Western Metal Combined Metals Reduction half of the year was at a rate 4 per cent above the 1951 aver- ceiling of 19.00 cents (per pound Exposition and Western Metal Co. 275 tons. was set by the Office of Price Congress .by conservative estiU. S. Mines 8227 tons. age daily rate compared with Stabilization on unmates Oct will 2, attract 1951, Uta inter30,000 Copper (Keqnecott) 976 production at a rate 7 per cent til n April 29, 1952, when increas- ested producers and technical below the 1951 average in the cars, daily average. last half of the year. Missouri ed supplies and lower consump- engineers from all parts of the PARK CITY DISTRICT, UTAH tion caused a decline to 18.00 United States. New' park Mining Co. 1554 was by far the largest cents. William H. tons. secredrops Eisenman, Subsequent state, accounting for 32 the price to 15.00 cents tary, American Society for Met- EUREKA DISTRICT, UTAH per cent of the total United abrought on pound May 12. The quoted als, who made these statements, Chief Consolidated States output. Idaho and Utah ore-- 28 advanced to 16.00 cents on declared both events will stand cars. were the second and third lead- price June 24 where it remained until as important educational factors Dragon .Consolidated clay ing states, producing 19 per Oct 7 when it again dropped to for producers of ordnance and 14 cars. cent and 13 per cent, respective15.00 cents. Limited buying industrial metals. Tintic Standard 1 car ly, of the nations total. caused further declines in the Both and Congress Courtesy J. A. Hogle & Co. Exposition, Production in 7 of the 15 weeks and on Oct. 22 he said, will inspire finer metal following principal states or regions was the price was down to 13.50 products and reveal methhigher than that in 1951. The cents, the low point of the year. ods, processes and many applications largest increases, on a tonnage In November and December the to lower production costs. basis, were in Washington; New market improved and on Dec. 30 The exposition, with more York, Tennessee, and Virginia; the quotation for lead was 14.75 than 300 1951 Dodge Powei prominent firms to be northern Illinois and Wisconsin; cents a pound. with has represented exhibits, and New Mexico. States in which The district (Okla- overflowed ic Wagon. auditolead production decreased sub- homa, Kansas, and southwest- rium, largest exposition strucstantially included Idaho, Cali- ern Missouri) produced- 24,744 ture in the Southwest. Four-whe- el drive, fornia, Kansas, and Arizona. tons of recoverable lead in 1952 The average daily production closed because of the sharp dewith 26,906 tons in winch, one ton. rate in 1952 was 1049 tons com- compared cline in the zinc price as zinc 1951. a Production sustained pared with 1063 tons per day in drop of 20 per cent in the latter constitutes the major values in Will accept best offe 1951. half of the year when compared most of the district. The deThe market price for common with the first six months; many cline in Kansas accounted for PHONE 22-45lead, New York, held at the small mines were curtailed or Continued on Page 2 32 odds 70 odds a Dev. Mountain View -- Drive, Made For Tax Plan To Aid Mutes The nations' biggest mining problem how to survive in the face of heavy imports of metals at lower prices without discouraging free international trade was spotlighted here at a meeting of the mining committee of the San Francisco Chamber of Commerce, acording to the committees chairman, Phil R. Brad. ley, fied this week by directors of the companies. In separate meetings, representatives of Silver King Coalition Mines Co. and Park Utah Consolidated Mines Co. signed an agreement for establishment of the United Park City Mines Prince Con. Prosper Oil & Mng. Rico Argentine Cons. Eureka Mt States Consolidation of two Park City district mining firms was rati- Plumbic Mines Comet Coaln & Mining Firms Consolidated New Park New Quincy Cardiff Central Std. Chief Con. . Clayton Silver Majestic Oil Mammoth Park Gty Oil & Mg. Nev-Ta- h ,85.25c One Year $&50 Salt Lake Stock Exchange February Transactions FEBRUARY 953 Information eanUta 13.5c .$34.9125 27c 11.5c Gold (per oz.) Jr. The enigma, long a thorn in the operations of mining firms headquartering in San Francisco as well as in other sections of the West, Bradley said, was emphasized at the Chamber meeting by guest speaker Felix Edgar Wormser, vice president of the St. Joseph Lead Company of New York. Wormser made what he termed the first public disclosure west of the Rockies of a plan formulated just two weeks ago at a meeting of the Colorado Mining Associate in Denver for a sliding scale equalization tax on imports of lead and zinc into the United States. The sliding-scal- e import taxation 'plan, according to Wormser could put an end to uncertainty. in the national lead and zinc mining industries. It could, in principle be projected into remaining fields of critical and Continued on Page 2 . Domestic Lead Production Decreases Slightly In 1952 Final Plans Made For Metal Meet -- Ore Shipments 23-2- 7 85-to- lead-produci-ng . . FOR SALE Tri-Sta- te Pan-Pacif- - . 31 |