Show MINE TO BOOST I OUTPUT OF ORE Park Parle City Development company will vill electrify the lower workings of he thc thc thc- American Flag mine minD at Park City in preparation for increasing output it was announced Thursday by A A. N. N Hurley president of ot the company compan Electric hoists and skips will vill replace the small smail air hoists and buckets with wIth which the ore Isnow is islow now low hoisted to the foot 1100 level from the new workings on the 1300 foot toot level The change chango will cost approximate approximate- approximately ly Iy y and will be completed In two wo or three weeks In recent weeks the mino has been shipping between 60 and 70 tons daily daib Substitution of ot electricity it is expected Will vill enable enable en en- cn able tho the company to double Its output output out out- put and also reduce costs per ton Mr Hurley also announced that the he company has applied for listing on tho the Salt s. Lake Stock exchange A statement prepared for the exchange ex cx- x- x change In connection with the application application ap apa ap- ap reads In part as follows The Park City Development company was incorporated under the laws of at the state of Utah August August Au Au- gust 14 1933 for shares par ar value 10 cents of which amount shares were Issued and outstanding December 31 1935 The company compan has approximately sto stockholders The Tho company compan took over a lease and option on the American Flag holdings at Park City Utah consisting consisting con con- of approximately acres in n addition to which the company owns outright 21 claims of about 2 20 0 acres The option price on the American Flag group which adjoins the he Silver King Coalition the Park Utah and other large producers was l OO to be paid on or before before be be- fore December 14 1936 The only payment the company is compelled to o make prior to this date is a royalty on the ore shipped which is s on a graduated scale running from 10 per cent to 50 per cent all of which applies on the purchase price with no Interest On July 12 1934 th the entire plant was completely completely- destroyed by fire This stopped operations for from three to four months until the plant was replaced Work was started on on the Amer lean ican can Flag group on December 14 1933 and has been except ex cx- for time lost on account of the fire To date has been paid aid on the option price with with 10 10 lots of ore are s still iU to be settled for and md we are quite confident we wo will have lave the option price option price paid In full before it is due duo I Since starting operations the company has done feet of ot de dev development de de- v work consisting of ot feet o of ot sinking and feet of drifting crosscuts and raises In addition to this wo we have cleaned out about feet of old drifts and raises and timbered them where necessary The Tho compa company y has shipped tons of ore are to the smelters of which between and tons were shipped from Irons the old dump the balance balance bal bal- ance of the ore oro coming from development development devel devel- work At present the company is working working work work- ing ing 50 to 60 men daily and spending between and per I month on operations On the tho foot 1300 level we wo have developed what appear to bo be two substantial ore bodies and on the foot 1200 level we also have a substantial substantial sub sub- ore ore body bod which apparently is the same body of ore we cut on tho the southerly end of the foot 1300 level |