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Show In Reverse: Utah Company Goes East When a company comes to Utah to develop a mine, it is good newj, but when a Utah mining company goes east to develop a mine, that becomes extraordinary news. Such is the case of the Paik City Consolidated Mines Company, which operated in Utah for more than 10 years, producing approximately approxi-mately $4,000,000 worth of ores. When in about 1940 the cost of operations op-erations began to grow too largo as depth was attained, the l'ark City company began to look about for other properties to operate. A number of properties throughout through-out Utah were examined, but nothing noth-ing was found that would fit into the company's program. Other Western States were sounded out and finally the company com-pany found what it was looking for, a demii-.it of low grade lead ore near Fredericktown, Missouri. The Missouri property was placed on a producing basis by the Utah comat.y in 194J, and is now paying its first dividend, which will go largely to Utah stockholders. It is unusual when a Utah company com-pany goes east, as the trend for many years has been toward development de-velopment of Utah's resources by capital from outside the State. Development De-velopment and new exploration is the greatest need in Utah mining industry to restore the State's known ore reserves to a normal basis, after heavy depletion during dur-ing the war. |