Show park utah consolidated Consolidate ds big strike on 1800 level now closing up deal for absorption of the ontario what 6 gives every promise of proving to be the greatest strike made in the park city district in many years was verified by manager george NV lambourne of the park utah consolidated early last week the new ore body was encountered on the 1800 foot level three hundred feet below the level of the ontario drain tunal or 1500 foot level on which the mammoth silver ore deposit was originally discovered and from which more than in profits have so far been derived the new strike has developed a most important change in the character of ore its chief characteristic te being lead rather than silver with values running 70 to 80 per ton at prevailing market prices of the metals 1 manager lambourne is not disposed this early in the development of the new disclosure to make a prediction of its extent though there is everything to indicate that it will be fully as extensive as developments on the 1500 have proven to be and the latter has already been opened for feet in length the ledge on the 1800 level occurs in the quartzite just as it does on the 1500 level the same formation which in the old ontario mine to the west has produced more than when the new deposit has been sufficiently opened up to permit sloping and drifting 6 operations the management states that it will be possible to mine tons a day without trouble thus adding to the mines income at a rate that will insure increased dividend allotments since this new strike was reported park utah stock has risen close to 2 a share it is also announced that in addition to the mammoth strike on oil the 1800 level most interesting Z ore disclosures are now taking place in the limestone formation on the SW foot level of the property the formation in which most of the park city mines have produced the greatest ore yield a yield approximating OW in view of this fact it is not hard to visualize the immense possibilities that lie in future development operations at the park utah which already stands out as a scintillating star in the firmament of the states greatest bonanza mines mines ontario shareholders shareholder invited to join family previous to the big strike in the park utah consolidated the management mailed an offer to all shareholders of the ontario silver mines company to join the consolidated concern on a basis of one and one third shares of park utah for one share of ontario those making the exchange before november 1st ast to participate in the pending dividend of the park utah consolidated company this dividend will be the equivalent of a share on oil ontario stock As the great bulk of ontario stock already is in the strong box of park utah there seems to be no doubt at all bu but 6 t what the minority ontario stockholders will accept the offer and become members of the park utah family A strong financial exhibit A balance sheet of the park utah consolidated mines lines company as of august 31 1925 after giving effect to acquisition of assets and liabilities of the park city mining and smelting smelling Sm elting company recently absorbed shows that the former company had current assets of of which was cash in bands and united states government bonds net earnings of the park utah NT mining lining 11 company compan y were in 1921 in 1922 in 1923 in 1924 and up to august I 1 of 1925 a total of of which or 50 per cent has been paid in dividends park city mining and smelting smelling Sm elting earnings were as fol lows 1922 1923 1924 and up to august 31 1925 or a total of 1774 of which has been paid in dividends this is without doubt the highest percentage of dividends based on oil net earnings paid in recent years by any utah b company balance sheet of the park utah consolidated mines company as of august 31 1925 after acquisition of the park city mining and smelting smelling Sm elting company is as follows ASSETS current assets cash in abanks 61 05 accounts receivable U S government securities par value ore in transit total current assets F fixed I 1 x e d assets mining property and claims plants tunnels and equipment less reserve for depreciation total fluxed assets investments in other companie i ontario silver mining ining Jl company stock 00 daly mining company stock 2061 UX lO new quincy mining stock total investments 25 deferred charges ww supplies on hand at mine j 7 total liabilities CAPITAL STOCK AND SURPLUS current liabilities current bills payable ny cooko 00 reserve for 1924 income tax 80 total current liabilities capital stock 2500 capital stock authorized coi oOOO less stock i ogg 00 stock outstanding surplus 4 00 capital surplus 1 earned surplus 6 i 03 total the balance sheet of the ontario silver lA mining fining company as of july 31 is as follows ASSETS current assets 89 cash in bank gg 21 accounts receivable 60 66 ore in transit t 83 total current assets t investments 00 0 al S and P R R bonds 29 1300 shares copper company 1 n shares of keystone mining alining company 7 00 VA shares weber coal company 11 shares of Nail driver mining anning company shares new quincy mining alining company total investments fixed assets mining property less reserve for depletion 1 jo f 51 plant and equipment 8 mine aline 6 63 less reserve for depreciation at 86 total flexed assets 8 20 deferred charges supplies at mine a total liabilities current carrent liabilities accounts payable capital stock capital stock no par value Oo less deficit 1125 1 1 25 net loss on operation 7 31 25 total net worth total STATEMENT OF PROFIT AND LOSS ACCOUNT january 1 to july 31 1925 1 RECEIPTS ore sales crude ore tons at 1530 tailing fing tous tons at 1 rentals and royalties interest and dividends total EX expenditures TURES total disbursements net income before depreciation and taxes |