Show C Mine and Mart Mar Comment 1 P By LEE WILLIAMS WILLIAM PARK CITY ORE SHIPMENTS Mines in the Park City district distrct shipped a total of or pounds of ore are during the week ended ende Saturday Sat Sat- urda Shipments by mines and in I pounds follow Park U Utah tall Consolidated 1543 Silver Siver King Coalition Coalton New Kew Quincy FEDERAL RESERVE REPORT The federal reserve boards board's boad's condition condi condi- lion tion ton statement nt of reporting member banks in leading cities cites as of December 12 shows decreases deceases for tor forthe tho the week of ot in loans and and discounts of in investments investments invest invest- ments of in net demand deposits and of in government government gov gov- deposits and an Increase Inease of ot in borrowings from federal federal federal fed fed- eral reserve banks Loans Lans on stocks and bonds In Including including in in- U. U S. S government obligations obliga obliga- tons lions were below the December 5 total at all al reporting banks a redu reduction ton of at reporting banks In the Kew ew York district distrct being party partly offset ew by In Increases increases in- in creases of in the tho tG Cleveland Cleveland Cleveland Cleve Cleve- land district of in the B Booton Boston Boo Bos s ton district district pf f in the tn-e tl Chicago Chicago Chi Chi- cago cego district and smaller increases in most of the other districts All U other loans and discounts in increased increased increased in- in creased at reporting banks In New York district in n Chicago district In Cleveland district and at atal atall atall all al reporting banks banks COAL PRODUCTION PRODUCTION The total total production of ot bituminous ous coal in the tho the United States durIng during dur dur- ing Ing the tho week en ended ed December 15 15 aCcording ac according nc- nc cording to the estimate made by bythe bythe the tIe Naton National 1 Coal association from preliminary shipping returns was about abut net tons Production Production tion ton for fo the week ended December 8 8 as reported by the United States Sates bureau of mines was net tons OVERSUPPLY DANGER Although many oil oU companies are showing better earnings the danger of oversupply Is still present to the extent that a preponderance of oil 01 stocks on n any Investment list is Unwise unwise un un- wise according to the tle Brookmire Economic Service Inc New production production pro pro- ducton will wi soon be available as asa asa asa a result of extensive drilling in the te field and in California and it i is not yet et certain certin that re restriction of U these se new supplies will willbe willbe wl be b effectively administered Lack Lck of cooperation in the Industry would result almost immediately in a a flood of oil al and a a decline in petroleum prices The current supply Is quite adequate to meet 1929 requirements but could be be readily doubled if it production production pro pro- ducton which Is shut in were to be released a a dangerous factor in the current situation As a result resul the economists emphasize tho the fact tact that no 10 list should be heavily loaded with oil 01 stocks at present and preference should be given to the tile refiners and related companies DRILLING HA HALTED Drilling in the tho Ashley valley valey oil of test near Vernal has been halted haled while repairs are being ing made to the rig A broken pin caused a a bit to rg drop into the ti hole and while it Jt was successfully fished out It was neceSsary sary to send the stem to Craig Cob Colo Colo for repairs The hole holo Is 21 feet fet deep R. R C. C Hill 11 president of ofte the company is en route to Salt Sal Lake test te following an inspection of the OUTPUT OF LEAD World Vord output of ot lead for tor November Novem ber bor Is ho placed at short tons ton n against tons in October and tons In September by the American 18 bureau o ot of metal statistics |