Show Park Galena Mining Co Issues I Annual Report for Stockholders Mine Mines Is is Newest Producer for the te Famous Park City Cit District Shipments Shipment Show Sho Nice Profit With Wit Ore Development Development Development Devel Devel- Outlook Most Mos Promising The annual report of the Park Galena Mining company was w s suj su- su suy- suy to stockholders Saturday by J. J F F. Featherstone se secretary and treasurer The Park Galena com company company company pany Is the newest producer of the Par Park arc City district one of ot the richest richest rich rich- est and oldest lead gold lead gold mining mining min mm- ing lug districts of Utah The ParI Park Galena Galeria Is now free of or oris is Its troubles and and Its destiny Is In the hands bands of ot a new management and new people and within a few tew months some sonic remarkable achievements have b been en accomplished The management management management manage manage- I ment Is now shipping from front an ore body exposed some time ago that has developed nicely with wih additional work and further sinking on the theore theore theore ore should bring some sono Interesting results A portion of or the report to stockholders stockholders stockholders stock stock- holders follows I r The Tho progress made during the first year eal oC ot y your company's existence existence exist exist- ence duo due to th the cooperation of stockholders and fd untiring efforts of officers and directors is Indeed gratifying A great deal has been accomplished In a comparatively short time toward putting thre your company w l on tile the way way to profitable profitable profi- profi profit profit- able production The outstanding achievement is that that o out oot t of ofa a total cost of f purchase price of the tho ho mining property there remains unpaid ony ny the sum of Part of ol this tIlls is payable during 1927 and the remainder In 1928 York Work on the the property propertY was com com- In the month of July 1026 1926 under the direction of President and Manager William Anderson All Al the surface bul buildings and equipment had to be renovated and painted panted A new water s system stem had to be he installed for lor culinary use it beIng necessary to pipe the te water for a a distance of ol 1800 feet from a point near the end endot of ot main t tunnel level ol le t P A new Storeroom storeroom store Store- store room root cellar celar timber sheds and anda a ton capacity ore chute were erected Underground dev development work work consisted mostly of and cleaning out the tile main tunnel or l level vel and In drifting both ways on the and foot toot levels This development t together gether with repairs and Improvements necessary cost the tile company Mining operations operations op op- op- op were commenced In the month of September since which time Ime a total of ot three thirty-three carloads I of ore has been shipped to the ter The gross value of ol 1406 tons marketed amounted to Net smelter returns amounted to Including advanced ad by the smelting company on ore mined ready to ship Cash receipts and disbursements to date aggregated aggregated gated a total of ot The pu purchase purchase pur pur- chase price of the property and equipment being largely larely paid for tor in treasury stock has ha pu put your company com corn pany In a 0 ver very sound financial con con- diton The property owned o and controlled controlled con con- trolled by your your company consists of ot ten tEn patented and nine mining claims These are situated in the heart of the East Est Park City district and extend for over a mile mie along the strike of the Gl G Glencoe fault faul fissure The new ore loading chutes are located near the portal of ot the tunnel making it I convenient for tor I. I teams to trans transport por the ore ore to the railroad two miles mies distant Mine equipment consists of an anair anair anair air compressor sufficient to handle ten drills about 2 2500 OO feet fet of ol track track- rock rock- age mine cars hoist hoist drill dri sharpener and blacksmith shop stop ng ana ann drifting machine drills tools etc Mill Mi equipment consists of a ton dally ton capacity gravity concen concen- Both mine and mill equipment are electrically lighted and electric power Is used to drive all al machin machin- cry ery erre Development Work done approximates approximates mates feet fee of ot tunnel tunnels drifts and adits A double comp ver- ver tide shaft shat t. t the lev level l toge together hr with a raise false from tho the level l vel to the surface provides splendid working conditions conditiOn ds as w well l as good KOo ventilation The management shows a goon financial statement nt with wih profits from ore shipments up to April 22 of this thi year ear amounting to The company is a regular we weekly kly shipper no noW V from the Park City district |