Show PARK CITY CON CONE BOOM CAUSES STIR J ON MART Rises to 70 Since First o of Month Brokers Bid Frantically B By L. L C. C KELLOGG Telegram Financial Editor Scenes reminiscent of the days o of oC 1928 1923 and 1929 when mining activity was at Its height in Utah were enacted enacted en en- acted Saturday on the Salt Lake stock ex exchange hange as brokers bid frantically for stock in Park City Consolidated Mines company which has been u un der heavy y accumulation at steadily rising prices since December 1 When the movement began beSan a week ago the stock was selling at 44 cents Since th then n it has risen without interruption in in- except on Friday when it dropped from 60 to 58 under profit profi taking Saturday it resumed its sensational sen rise opening at 65 cents seven points up and nd advancing to 70 The volume of sales also ha has steadily increased from shares December 1 to shares Saturday bringing the total since December 1 to shares Trading Brings Gallery Action of the stock has caused wide comment and has brought broucht larger and larger gall galleries cries to the Salt Lake stock exchange to witness th the trading I It ItIs ItIs is generally known that Park City Consolidated has large ore arc bodies blocked out that it is making extensive extensive exten exten- sive preparations for increasing tonnage tonnage ton ton- nage the first of the year ear and that Its ores contain a relatively small percentage percentage percentage per per- of oC lead and zinc making the company less dependent on the prices for Cor those metals than are most pro pro- companies Brokers point out however that these hose facts fads have been known for some sometime sometime time ime and do not explain the suddenness suddenness sudden sudden- ness and extent of oC the activity in Park City Con The commonly accepted accepted ac ac- ac explanation is the belief that thai the east cast is bullish on silver and expects ex cx It to reach a price of coupled with the statement that a large arge eastern brokerage house sent an engineer here to investigate the mine received a favorable report and Is rec recommending the purchase of oC silver mining stocks and especially Park CIl City Con in the expectation of higher prices for silver I Dern Heads Company I George H. H Dern secretary of ot war and former governor of at Utah is president resident of ot Park City Consolidated Mines company and John Hays Hammond Hammond Ham Ham- mond noted mining engineer and associates associates as- as in the Engineers Engineers' rs' rs Exploration tion ion and Mining g company are financially finan interested Predictions are frequently heard among mining men that Park City Consolidated will vill join Silver King Coalition and Tintic Standard in another another an other year or two in the ranks of ot major maor ma ma- jar jor or silver producers |