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Show r ' ZIBTUPT vxrrnrzxTtT o? rh. SALT LA KB VALLSI SMBLTSB raids 2d &tkj& SILVKB LEAD pif (m oxxt coma GOLD OHO VOL 18, NO. 40 Saif Lake City, Utah, October 24, 1947 Development operations art being pushed ahead at properties controlled by Western. Mining 8c Development Company, a newly formed Nevada .Corporation, according to informations filed recently with .the Utah State Securities Commission. - .Organized for the nurpose of opening up the old Grey Eagle Mine, located in the Railroad Mining District, Elko Nevada, the new firm has installed equipment, opened up old workings and projected headings into prospective ore zones. During the initial period of rehabilitation mining has also been conducted resulting in a trial shipment showing a net return to the companv around $600 per car. Te Boost Output With the planned increase of manpower, sufficient ore is said to be available to inaugurate the shipment of 4 or 5 cars per week. For the expressed purpose of additional equipment acquiring lAIMD PURCHASED map to enlarge and facilitate mining sketch (SURFACE OPTION) operations the Board of Directors EASTERN. SECTION OP of the firm has authorized the issuance of 250.000 shares of its capital stock .at 10 cents per OPTION TO share. The corporation is capitalized for $125,000 renresented by PURCHASE 2,500,000 shares of capital com3000' SCALE T SURFACE TITLE mon stock, 5 cent oer value, fully paid. A prospectus was filed with the SEC on Sept 17, 1947. Holdings Mining property acauired by the company consists of seven patented and five unpatented mining claims, approximating The purchase of mineral rights to 1539 acres of patented 240 acres located in the above mining ground adjoining the Park City, Utah, property by the mentioned district. The property has been develZinc production in the United Park City Consolidated Mines Company, was announced today. by means of four tunnel oped inThe additional acreage, States in August was 2 per cent there being about 2500 systems, of creases the the total holdings higher than in July but was 14 feet of tunnels, drifts and raises to in area this 2,179 cent less company the than per average and is equipped with machinery monthly output for the first 6 acres. necessary to conduct modern months of the year, according to Reopening of the Park City mining operations.' Two ore storthe Bureau of Mines, United property, which was closed down age bins providing 100 tons storis of file the at war, States Department of the Interbeginning age space are available to trucks. ior. The change in rates in dif- progressing satisfactorily. The The company has been mining 900 No. foot shaft 1, ferent areas varied considerably; companys in the section, of the mine near 300 to the retimbered has been Western States output rose 2 A .strike called this week is known as the Kellog what 400 the Timber from level. foot cent the Central of States and per Binggainby employes of to bottom the the level foot Stope, which according to leged 25 per cent, whereas Eastern ham and Garfield railway new and is end, shaft produced a reported half comparatively 8 shutcent. States dropped per .has resulted in the million during and subsequent condition. be in should good of down operaproduction In Western States, production to World War I. The Park Utah north crosscut, tions at Utahs world farose 5 per cent in Idaho, 13 in Consolthe Park City connecting Holdings of Western Mining & mous Kennecott Copper Utah, 7 in Nevada and 21 in idated with the Ontario Drain Development at mine Company are seCompanys copper Washington, whereas it dropped Tunnel on the 900 foot level, is cured by a bond and lease; full 4 per cent in Arizona and 8 in Bingham Canyon. reopened and this prelimpurchase price of property is While, employes of the New Mexico. The gain in. Idaho being work should be completed which is payable at the $60,000 inary the mine and mills of copfrom a greater output resulted this work of 15 per cent of the net of rate Completion shortly. not per firm are of zinc-lea- d ore from the Sidney will participatdouble access and returns. smelter provide the in strike, operations ing and Star mines, both in the ceased as the Hdgo Emery is president and Coeur dAlene region. Utahs in- ventilation. necessarily the of preUpon completion indusrailroad these serves director; Henry B. Jarvis, vice crease was due mainly to a largwork now in progress, paratory include tries. Strikers president and director: John J. er output of only ore announcement will be made by some 110 train and engine and Fleisch, secretary-treasur- er from property operated by the the company of its intended Ofmen who have quit work L Emmett director. Brown, United States Smelting, Refin- operations in this area. , over in the of are the status fices the will companv at they Co. & Bingham, ing Mining have when a hew railway is Stock Exchange Building, Salt West Mountain district, where Past Production Prior to 1942, production of Lake Citv. placed into operation early vacations had depressed output of gold, 8,569,548 21,612 next year. in July. Increased output by the ounces ounces silver, 2,848,064 pounds Lack of transportation Combined Metals Reduction Co., of lead ofand 15,737,-20- 6 and copper supplied by the B and G has Fioche district, Lincoln County, of zinc was produced forced idleness of some 4000 accounted largely for the gain in frompounds the companys 640 original employes of the Utah Copoutput in Nevada. &CT6S. Kennecott per Division, Lead production in the Unitare progressing Operations This Copper Corporation. ed States rose 4 per cent in satisfactorily at the Park City mean a in loss may coppei August but was 6 per cent low- Consolidated Companys Ruth production of some 46,000,- - . er than file rate that prevailed lead mine at Fredericktown, Mis000 pounds per month. . in the first 6 months of the year souri, Richard C. Badger, execaccording to the bureau. Central utive vice president, announced. States output was virtually un- Exploration changed, having declined slightSix churn drill rigs are now ly, whereas that in most other engaged in completing the exleading producing areas rose; a ploration work which has been Although lignite constitutes gain of 8 per cent was noted in carried on during the past year nearly one-thiof this nations Idaho, 15 per cent in Utah, 6 per in Missouri. Determination of solid fuel tonnage 19 cent reserves, cent in Montana and per the extent of mineralization on research American for in Colorado. full inthese properties should be posThe larger output in Utah sible within sixty days, he said. dustrial and domestic utilization was . caused, phiely by greater Despite discontinuance last of this source of energy has been of production of the Premium Price Plan, leu extensive than in Germany ore from property operated by July at file present rate of operation, with similar coal, according to the United States Smelting, Re- production, gross and net for statements recently presented by fining & Mining Co. at Bingham, 1947 should exceed the 1946 fig- two officials of the Bureau of W?st Mountain district. Lead ures of 5,932.761 pounds of lead Mines of the Department of the production in (jolorado gained produced, $649,899.33 gross ore Interior before the. mines and probably because of the mining sales and $171,249.13 net Income Mining Subcommittee of the Meted Mining Industry of slightly higher grade lead before depletion and House Committee on Public oi Utah . . - park, city district there. Along with its vast expansion program, the oil industry is conrestantly seeking new crudetechserves and is developing ' niques which make possible more efficient recovery of usable products. The worlds need for oil seems almost insatiable. American capital and ingenuity have taken the lead in meeting . Park City Cons. Expands Zinc, Lead Production . Mine Holdings in Utah Shows Gain Joplin Ore Market Unchanged JOPLIN, Mo. The Joplin ore . - Rail Strike Closes Famous Copper Mine market situation is unchanged, with concentrate prices the same. Blende continued to bring $70.35 a ton for both mill and float grades in the open market and $72 a ton on Eagle Picher Central mill settlement basis, with slab zinc quoted at 10.50c a pound East St. Louis. Call for lead concentrates was firm at $195.65 a ton on a metal contract basis, with pig lead . quoted at 14.80c a pound St. Louis. Zinc concentration production is about 45 per cent of the prepremium expiration rate and estimated at 2415 tons last week as compared with 2863 tons the week before. Shipments amounted to 2715 tons as against 2863 tons in the previous period. Stocks dipped 300 tons, leaving on hand in mill bins throughout the district a total of only 1200 tons. Fourteen mine mills and three tailing plants operated during the week, comparing with the same number a week ago. It was reported that the Lula Bell Mining Co., which has been down since the expiration of the premium price plan and previously had been treating ore from its Liza Jane mine west of Baxter Springs over the Youngman mill northwest of .Treese, was scheduled to resume operations this week. - zinc-lead-sil- ver - . wuimm Lignite rd Native Sulfur A record production of 391,396 sales by 6240. long .tons, and. consequently stocks, which have been decreasing steadily, showed a slight increase ' for the ' first time since October, 1046. MJN Operating in Elko County , long tons of native sulfur was attained in August 1947, according to the Bureau of Mines, United States Department ' of ' the Interior. Production exceeded .84.SIBS (fw.M) S. L. Firm One of the most costly and extensive expansion programs in business history is now being carried on by the oil. industry. In two years, it is forecast that a $4,000,000,000 will be spent sum equal to 20 per cent of all the capital invested in the industry since it began. A single company, with its domestic affiliates, is spending $121,000,000 this year on producing activities alone. Drilling Rate This is the way the oil Indusof try is meeting the challenge an unprecedented and unanticipated postwar demand for its products. .The first step is to get crude oil out of the ground; and pew wells are being drilled at an extremely high rate. Transportation and refining facilities are being .built and modernized on a .comparable scale. Some of the largest cracking plants ever built are under- construction. World Wide This is not confined to the United States. A major building program is underway in Venezuela, and large installations are being developed in a number of places in the Caribbean area. One of the biggest jobs of all is being done in the Middle East, and it is expected that steep increases in European Demand for oil will be chiefly met from . IM sase One Year $2.50 Oil Industry Pushing Huge Output Drive it. MI MluSI HUi (far IN) Features Mining, Oil, Financial : M. IN . zinc-lead-sil- - , ore. ver Linds. |