Show PARK CITY CON SUSPENDS Low Price of Silver Makes Operation Unprofitable Seek Gold Property Park City Consolidated Mines company has suspended operations at Its Park City property because of he tile low price of sliver silver In Ill making the announcement J J. J J. J Beeson vice president and general manager said that the decision had been approved by jy Harris Hammond and W W. W B. B Wade of the Engineers Engineers' Exploration syndicate and the local manage manage- ment While the mine is closed down the management Is contemplating taking over a gold property Mr Beeson Beeson Bee Bee- son raid Several have been ex examined cx- cx but none have been decided upon yet Following is Mr Beesons Beeson's statement statement state state- ment The decision to reduce the the crew to a afew few men has ben reached because we believe bc- bc lieve that It will b be to the best Interests interest of our A tonnage of ore has been developed at the mine nod will willbe b be ready for storing sloping as soon coon as the price of silver has made a substantial recovery During the last months month's operation we have made a record of production for the property prop property erty the tonnage mined amounting to approximately ap so- proximately tons with an average value of about 24 ounces silver and In gold Occasional lots contain sufficient zinc so 30 that payment Is received for the tame The Tho last carloads to be shipped from the mine are among the best that hare come from Irom th the property Mining costs during the past pant month were reduced lo to approximately 1292 per ton at atthe the tho mine a few additional costs may bring the tho average cost per ton up to 1300 These results were secured through the cooperation lion tion of the men at the mine who were will- will Inc to accept a reduction of the base pay with an opportunity ot 01 Increasing the dally daily wage through A bonus on tonnage and andgrade grade grado of ore Tills has been In effect for forthe forthe the past gast two months The management feels that It 11 has had excellent cooperation From the miners at the property who have been working under the direction of Douglas C. C Despain superintendent but at this time we do not feel that we are Justified In depleting the treasury of the company without with out showing a n. substantial profit Neither do we feel that we can spend our stockholders stockholders stockholders' stock stock- holders holders' money In further development of reserves of silver ore when there Is no as assurance assurance as- as that the price will raise within the next few months TO MAINTAIN CONDITIONS Every effort will be made nade to maintain the property properly In condition for opening as soon as the price pric ot of silver reaches a point whore where we cat een make mako a substantial profit Since the first of the year rear examinations have been made by the management of gold properties in reveral of the adjoining states and In the tho oscar near future one of the properties prop prop- examined may be selected for devel devel- However the management feels that In undertaking the development of a agold agold gold property properly we must select one will wll show a profit In irs normal times or during times when wages and commodity prices are up In view of this fact we have not noi been Inclined to rurh ruch Into the development of a low grade property which will become unprofitable as soon toon as the tho price of silver silveris Is restored In regard recard to the silver situation I feel fee personally that there Is a very good chance of a stabilization that will make profitable again However It now appears very likely that no definite relief relle will come until after has ha settled se her disagreements with India The next round table able meeting Is scheduled to take place In London early earli In September If the outcome of this meeting Is 35 favorable It Is quite likely that England may give gire serious consideration to arty any conferences or International international Inter inter- national agreements that will materially stabilize the price of silver |