| Show huge dividends by utah silver lead mines mammoth central milling plant for park city following the preparation of the following article on the dividends to be paid by the great lead silver mines of utah and just as these pages are going to press comes coines the announcement no of george W lambourne president of the park utah and park city mining smelting smelling Sm elting companies that plans are maturing whereby it is expected that a maniti mammoth noth central ore concentrating plant will be built at park city it is planned to have the big mines of the camp including the lambourne properties the silver king coalition and possibly others operate cooperate co with the international Si Sm elting co in the building of a plant that will be especially equipped to treat the lead zinc ores of the district so that a separate product may be made of the zinc and thus add materially to the earnings of all the companies concerned if plans mature as expected the international will expend anywhere up to for the purpose stated between now and the ath of january according to announcements noun cements already officially made utah silver le lead ad mining companies will gladden the hearts of stockholders by issuing dividend checks aggregating more than three quarters of a million dollars two weeks ago the mining review chronicled the payments to be made by the park utah and the park city mining smelting smelling Sm elting companies of a share each on january ad following this came the announcement of the silver king coalition mines company that it also would pay a share on the ad of january to stockholders of record december the other company which has decided to add most substantially to the grand total of is the tintic gintic standard which has announced its intention of paying loc a share on the in time for christmas and a share special on january esth and both to stock of f record next tuesday the al of the companies participating in these disbursements are in a most healthy financial condition and the mines which they represent are capable 0 keeping up their records of production during the year to come without particular effort counting both payments of the tintic gintic standard as of this year the company will have paid a total of and swelled the grand total of dividend disbursements to date up to or a share tintic gintic standard in great form in III commenting upon the board of directors director sy action mr addato said that t the he 6 decision to pay a twenty five cent div idena end was merely in conformity with the excellent financial status of the company and the remarkable physical condi tion on of the mine at present the company is e employing b more men in its history and this n and producing more ore than ever withstanding notwithstanding the low price of silver and the high cost of production the content of the ore the high lead as well as silver larg rge e reserves of shipping ore available for exploitation the immensity as well as the richness of the deposit the efficient manner in which the product is mined and sorted to keep costs at a minimum and receipts at a maximum all these are factors in the remarkable record being achieved by the company work on the foot level is getting into an exceedingly interesting territory where conditions exist which made the big bonanza deposits on the and lower levels of the property at the same time the company is following up an ambitious campaign t of development on the eureka standard property where a twenty four fou r by six foot shaft is being put down to open up the southern end of the great north south ore channel so productive in the tintic gintic standard estate at pr present besent the eureka standard shaft is now down about feet silver king coalitions enviable position with the pending ending dividend the silver king coalition will have paid three ahree and one dividend during the twelve months and will have increased the grand total of dividend payments from this one park city mine to shipments of ore and concentrates from the king coalition mines during t the past two months have been averaging around 1000 tons weekly y like the other park city z producers the coalition has enjoyed a more favorable position than most silver mines since the expiration of the pittman an act because of the strong price of lead and the fact that its ores carry a good Z percentage za of the gray 6 ray metal the property is said to be earning dividend requirements by a comfortable margin the physical condition of the mine is excellent new development work being undertaken in virgin ground is meeting with favorable conditions the double celled callow flotation unit used by the company to test the efficacy efficacy y of oil flotation having proven its efficiency the company will install four new cells thereby increasing both the efficiency and the capacity of its metallurgical plant from to tons of ore are lie be ing treated daily recoveries are holding well above 90 per cent big year ahead for the park utah with the completion of the branch line of the union pacific railroad tracks to the park utah mine which was ac complis hed during the last days of november the building of spur tracks and the completion of mine connections that will permit of loading a big daily tonnage of ore the company now is ready to begin piling up big earnings while the companas comp anys treasury boasts a surplus of more than a half millon dollars since the expiration of the pi pittman act the management mana managements gemen ts attention according to general manager paul hunt has been centered on development work and Farn earnings ings have been disregarded the number of buildings in in the townsite has been considerably amplified and living conditions b greatly improved until at present it is one of the model camps of the west another bunkhouse has been completed which enables the company to accommodate a force of men the water supply has been augmented and a sewerage system put in the most recent improvement is the connection of every building in camp with a central heating plant so that hot water heat is available to all at the same time a great deal of important work has been done in and around the mine A power line from the portal of the ontario no 2 drain tunnel the point of entry to the park utah has been built a distance of feet to the old hawkeye shaft the company wishes to have two avenues of conveyance for pow power er one through the lower workings via the ontario drain tunnel and the other through the old hawkeye so that if one is incapacitated there need be no interruption to operations connection between the raise from the park utah 1500 level or ontario drain tunnel level and the old hawkeye mine has not been completed the raise from the park utah 1500 level to the horizon on which drifting to the old hawkeye heading will be done has been completely timbered and actual driving for the objective will be resumed in a week or ten days the transformer system of the mine has been increased to K WA V A additional transformers are on hand to increase creage in this capacity by K V A all haulage ways narrow as well as main have been electrified railroad track facilities for sixteen gondolas having a loading capacity of about fifty five to sixty tons to the car have been provided at chiq loading station underground there will be ample room for storage of two or three days output no ore bins will be needed as ore can be dumped directly from mine cars into railroad cars shipments temporarily suspended on november 20 to put everything in readiness for the new system of shipment will be resumed according to mr hunt and by the middle of december a substantial increase in tonnage over that will be made park city mining and Smelt ings position according to Pr president eident lambourne the park city mining smelting smelling Sm elting company which also boasts a treasury reserve after dividends paid during the year of considerably more than notwithstanding standing that earnings have been subordinated to development work will make another great record during duping 1924 production has been limited only by the amount of development work the company has desired to accomplish now operations have reached the stage when develop development me nt cap be maintained at its present rapid pace and production increased inc leased however the augmented output will consist as it has during the last month of first class ore rather ian than concentrates for the company does not plan at least for the immediate present to work its mill more than one shift a day later on the mill may be worked two or eve even n three shifts a day the ore body above the discovered over a year ago in the old judge and the daly west mines which has opened up a new future for the company is still furnishing surprises for the management by its remarkable size and continuity As far as the drift to the southwest has been extended high grade ore is persisting furthermore the deposit shows a more decided tendency to fo bed than is is ordinary even in park city a district made famous the world over for its bedded ore formations |
