Salt Lake Tribune | 1917-12-30 | Page 54 | The Silver King Coalition Mining Company

The Silver Kin; Coalition mine of Park City stands out as one of tbe largest and best known mines in Utah. It ranks second only to the Utah Copper company as the best dividend payer in the state, having distributed nearly $15,100.000 to its stockholders. It has a record of more than a quarter of a century of successful operation. This company, with its MoO or more employees in mine and mill, has a heavy payroll, which -lias done much to maintain prosperit' iu this mining camp, which i located in tiro mountains thirty-five miles east of Salt Lake City. The larger portion of its employees are permanent residents of Park City and are men with families. The principal products of Park City rose to record prices during the year. Lead went to 11 cents a pound and silver as high as $1.08 an ounee. As a result the gross earnings ot the heavy producing mines showed high totals in June, July and August. However, the increase for the most part was absorbed by the higher cost of labor and supplies. In the final three months there was a reaction in prices, but no cutting down was possible in operating expense?. The net earnings were redueed and taxes evidenced a tendency to increase. n dune the third advance in wages since the opening of the war took effect. The wages of men underground were fixed at $4 and $4.50 a day, white the companies charged the old prices for board. -v. PRODUCTION BREAKS RECORD Production for Park Citv as a whole exceeded that of any previous vear. Jt is estimated that approximately 107,000 tons of ore and concentrates concen-trates worth $5,000,000 were sent to the 'smelters in the valleys by the various va-rious Park City properties. Both the Silver King Coalition mine and mill have been operating regularly throughout 1917. The shipping figures from the camp show that the total output of the mine for the first eleven months aggregated 20,309 tons of ore. This ore has been estimated as running from $40 to $50 to the ton, which would bring the total production for the eleven-month period up to an approximate gross value of $1,250,000. The shipment figures are as follows: .lanuary, 2727; February, 136.'!; March, 240S; April, 3044: Jlav, 3098; June, 3109; July, 26H3; August, 290S; . September, 2330; October, 2516; November, 2047, and December, 2100; totaling 30,412 for the twelvemonth. These figures indicate steady, dependable production throughout the year, indicating expert and businesslike management. DIVIDENDS ARE REGULAR Regularity of dividends has characterized the management of the Silver King Coalition company. The stockholders of the company every three months receive a check representing 15 cents on each share held by them. This amounts in the aggregate to $1S2.415. These four quarterly dividends aggregated $7-39,660 for the .1917 distribution. Including the- twenty-fourth dividend, which will be paid .lanuary 1, 1917, this makes the distributiou of the Silver King Coalition proper total ? $4,523,560, and that of the combined old companies '$15,- - fe-- -- ft i if v - - -- 5 l-K- " 7 , -I - T. . ,'''. M - " A- ,Jt V r"-- . ; : N v . - , . r j , I. . i - : ! , , Wv" , - 1 - y- s - . i r1; "-V -' Cvr -Tr-, . " BOARDING HOUSE AT SILVER KING COALITION iaa,.juu. j it represeur.s upward up-ward of $15 a share on the outstanding stock at the present pres-ent time. The property held by the Silver King Coalition is most extensive and covers a large portion of the old camp of Park City. Its mineral laud holdings amount to liiiOO acres. These include the principal portions of the old camp and extend out in all directions into productive territory. 1 lw,MMWiM"-Mi-awuwJ-i- m m . i 9 GENERAL VIEW SILVEP. KING COALITION MINING CO WORKINGS EXTENSIVE The main shaft of the Silver King Coalition company is K100 feet deep. From this shaft and other tunnels and shafts there are workings extending in many directions. The total Jength of all the workings is estimated at 100 miles. The mechanical equipment of this mine is of the latest type procurable. pro-curable. The prospective life of the property is best indicated by a umpari.son of the holdings. The property represents a surface equal to U.'JU of Salt Lake City's ten-acre city blocks, and it is a determined fact that but a comparatively !mull fraction of the resources of this great mine has been touched as yet. This company lias its own sampler and milling plant. All second-class ore goes through the mill and then goes to the sampler before being sent to the smelter. Tiie mill has a capacity for handling tiUO tons per day. Every improve:! method known to modern mining and handling of ore has been introduced. Electric motors are ued for hauling ore and waste, and the mine is elect riealtv equipped throughout. 1 EQUIPMENT COMPLETE The equipment in the Silver lliil shaft. wiich is 1670 feet from the surface a-m! 4 n U feet from the muuth of the Alliance tunnel, consists of compressor, switchboard, electrical npplianres, hoist, cable and other necessary neces-sary apparatus for a t hree-enmpartment shaft. An underground station in the solid rock is a feature. This station, which is one of the largest in the western country, was made nccessarv in order to provide for hui.-ting and for compressed air. t . The station consists of throe larSo rooms. Tl,o roof nn h of this station is elbphcal and a 1 the walls as well as the roof arc of heavv ei,nor'cd eoncrete. Aiming the eompressor room is the engine room w ,1 i t tor ytw-o feet long, th.rty-five feet wide and rising in heiX tro, twelve and a halt teet at the Lack toward the shaft, at whieh it s fit,v."0nr Zned Wlt" m00tb- las.er,10anVare The remaining chamber is that excavated for ti i, i t n-L-hs sufficiently larte to accommodat e", he 'steel v , I,'?' h.M i half feet Inyh, ii-om the foundation to the cede,- r n V r " ! v::0.it iM ttom - . irrt t PROPERTIES INCLUDED Amons the mines that have been taken over by the silver Kin Coali-t Coali-t on company , rea,;h,r.K Us present imn.ense holding, are the Silver King ,om,nvIiAM, '""'I'?.'1?. I'ark Citv Mining Con,,...y. Keith Mir,:,.i ct. c" ' ,,:"'v- -'"l-'tor -Mining ,.0,p.-,nv, Kcin. l Odin fM j,,, "t"orc M'' .a..v. 1'lnvon t'anvon .llni! h iin.aiv, .inn a ilrK,, mim.r f urmips of .dam"- s.niwardT,,11;:'::- Ki 'W'ition mine up to its pres.n, Thomas K.arnsand j)avi,i kc.th r'r lur,lu'r I'nitod States Senator h-citi:. i,r.-sidei,i- TLoma i; ' oiiuers ot (ho companv are Pavi.l S. Alc(!oruick Vr.a'u ' c''m '.! c n e ia I manajror: W- I. Frank .Ind-o, Movie,, ' vL I- K'"'A wr: W. Mont Vr Ivors. .Ir. The sc,ro!arv is i'i c 11,0"M. Henrv Ncwoll and .!...: entire stock, consisting of ) iiiiii , ''""'l'"".v l's .ss'l " . 1(1 sll:''s, ul the par value of f) a shaw- 1