| Show IN M mini ng ACtiVitieS for gp ast week MANAGER HURLEY GIVES information REGARDING N NEW EW QUINCY the new quincy mining company Is preparing to put up another raise from the 1300 level with the view ot of doubling the present production of the park city mine according to a report to stock holders by A I 1 hurley president and manager the company now Is producing from to tons of ore dally daily A large larg part ol of the present prodie production ism ti on Is corning ing from a new fissure assure which promises to keep up a steady production lor for some time to come as the company owns the ground tor for EL a considerable distance dt along the strike of this fissure the report says in our 1236 stops where measurements have been taken along the fissure our past sixty days experience indicates that this fissure will produce better than tons of ore per lineal foot ol of an average value of from 20 to 25 per ton the average value of the ore for the month of december was 2724 per ton toil net smelter returns we however do not expect the overage average value of the ore to be more than 20 per ton the ore along this fissure compares in size and value with the largest ot of the stops on oil our side ot of the camp in addition to tills this fissure we are developing three other fissures which are contributing regularly some to our output with excellent chances of encountering larger ore bodies at any time on boil one or of these fissures no 3 fissure assure there Is from 6 inches to 3 2 feet ot of fissure ore of exceptionally high grade this la is considered an excellent prospect as we have not yet reached the ore bearing horizons our main drift to the west Is close to where we should encounter other kno known wix ore bearing fissures A large amount ot of development work has been done during the past year and we intend to continue this work until we have thoroughly proven up the fissures known to exist on this property during the last six months ot of the year 1928 development on the property proved most satisfactory from the time 0 ore re was discovered early in 1928 each in month anth shows a decided improvement the company has been able to gradually raise its monthly net earnings to tor for the 23 working days daya in december em ber during the year 1928 there was ship ped tons of ore ot of an average value ol of 2374 per ton BOTH LEAD AND COPPER ADVANCES the american smelting smelling Sm elting and refining company wednesday advanced the price of lead from 6 65 to cents a pound according to an associated press dispatch from new york in the meantime copper prices continue to climb upward producers asking 17 34 3 4 cents a pound domestic in new york wednesday a quarter of a cent increase A similar advance was made tuesday export copper was marked up to 17 34 3 4 cents a pound corresponding with the domestic increase tuesday and was expected to rise further to IS 18 cents the settlement prices tor for lead and copper in salt lake are cents and 1665 cents respectively the recent adva ices not becoming effective until next wc weak ek SPLENDID PROGRESS BEING MADE AT PARK CITY general manager J J beeson director james devine and consulting engineer norman blye of the park city consolidated were over at the the be first of the week to inspect and plan development the gentlemen were elated with the progress being made and report mine conditions as excellent it la is merely a matter of time tor for the park fork city conf consolidated aclid a to got get to t the h a ore bodies 0 that a t east side section and during the present year there will be developments that will push the property to the front and demonstrate anew the wonderful mineral wealth of this famed district and addling adding to its already immense production again the record reiterates great la is the future of park city COPPER COPPE STILL ADVANCING copper prices were advanced another quarter of a cent today to 17 cents a pound for domestic shipment the third increase in ill recent weeks says an A P dispatch from new york foreign and domestic demand has bag been heavy heo vy foreign sales yesterday exceeded pounds and this rooming morning were more than pounds the export price la Is expected to be increased cr eased tomorrow to 1734 17 cents cir hamburg havre and london corresponding with the domestic rise PARK JANUARY TONNAGE during the month of january the park city mines shipped a total of tons of ore those shipping chipping were part park utah consolidated tons silver king coalition tons new mew quincy tons ontario 2162 tons park galera galena tow tons WORK AT THREE KINOS KINGS the stockholders of the three kings received the following letter the past week from general manager forrest mathez on september 2nd and 1928 work was started from the foot level sinking the shaft since that the shaft has been sunk an additional SO 90 feet and a level started at feet below the collar of the shaft development work Is now being done on this level and very favorable conditions for ore deposits have been encountered to the northwest of the shaft a a series of fissures were encountered on the level cut but the work proved to be above the ore bearing horizon and a crosscut cross cut Is being driven to develop these fissures in or below the ore bearling bearing limestone water has been encountered which makes it necessary to operate your property two shifts per day which increases tho the monthly expenses although the price per toot f 0 ot ol of doing the work should not be 1 increased ner eased materially during the past three months hs an effort fort has been made to finance this work by sale of treasury stock with some los angeles people this has bag proven unsuccessful and in order to carry on the work your board of dl directors rectors has levied an assessment of 2 cents per share notice of which Is enclosed assessment no 24 was levied in december and cancelled du due to negotiations that were vero at that time being carried on for the sale of treasury stock which accounts tor for this athla assessment being no 25 compressor rob PARK STANDARD president M N A dunyon dinyon alter after an absence of several weeks was in the park today on his way over to the park standard where it is reported preparations are under way to install 9 a compressor in order that drills can be used to speed up development work more than 1000 feet of tunneling on the property has encountered the fissure in the park city formation and on the ontario quartzite it is reported the ore bearing bed which they now are following has been carrying values in silver lead and copper cooper which indicates that an ore are shoot is being approached according to officials of the company conditions PROMISING AT STAR OF UTAH superintendent john D fisher was over from the star of utah wednesday with samples tor for assay taken from the face of the long tunnel and also from the face of the drift on the big twelve foot fissure upon which drifting was started two weeks ago mr air fisher reports conditions as very promising at both points with indications of pay ore in the close proximity work is being pushed with all possible speed with the long tunnel getting along well toward the objective on this side or of bald mountain and good news liess should be forthcoming anytime mr air fisher says next week he will give the results of the assays essays on saulD samples les brought over this week with more detailed reports of development at the property STOCK SALES FOR FOB WEEK FRIDAY new quincy 1600 at lind and park king 1000 at 20 and park premier 2200 at park nelson at 63 52 and SATURDAY keystone at 40 and aad new quincy 1535 1525 at and park king 1000 at park premier 1200 at 81 and 1 park nelson 1100 nt at park galena 1500 at MONDAY east utah 2000 at perk nelson 1700 sit nt park premier at 82 and keystone at new quincy at sl if TUESDAY east utah at new quincy 1300 at park premier 1650 nt at 86 85 and park nelson 1000 at 65 55 and sic park galena 1000 at park kins king 1000 at WEDNESDAY new quincy at IAO and park premier 1200 at 83 and park galena at 2040 park king 1000 at silver king coalition at 1326 THURSDAY r east utah nt at new quincy at 40 and park king at silver king coalition at 1350 park premier 1200 at 78 slid and 1 park nelson at y thies thiea kings 1300 at ac 1 keystone at jt continued on pago page five t 12 a e IVI ining vui etters 4 4 i H tir I IM continued from page one UTAH MINES paragraphs I 1 I 1 the utah mining industry in 1928 enjoyed the most prosperous year since the record wartime artime period of 1918 dividends paid by metal mines in the state in 1928 totaled an in crease ol of more than two and one halt half I 1 million dollars over the 1927 disbursement copper 51 production tor for the year unofficially estimated at pounds sets a new state record and firmly establishes tab lishes utah as the second largest copper producing area in the united states the gross value of nonferrous non ferrous minerals mined in fix utah last year Is estimated at an increase of nearly eight and one halt half million dollars over 1927 total tonnage ol of ore mined se beet a new peak in 1928 the estimated figure being tons which is approximately one and one half million toni more than was mined in 1927 the year of largest production irk in the last decade in 1928 utah maintained her metal production ranking among all other states in the union namely first in silver second in lead second in copper fourth fourth in zino zinc and sixth in gold MANAGER ANUk GER PAUL HUNT RETURNS HOME general manager paul H hunt of the park paris utah consolidated mines company ca came me up from salt lake this morning after a several days stay in the interest of fair and favorable mining legislation from the present state legislature the farmer legislators however now as heretofore exhibit prejudice against the great industry of mining seemingly forgetting the great benefit derived by the state from the mines thereof and the vast sums of money invested in the development of this industry mr hunt reports the immense work at the wonderful park paris utah progressing with the usual clock like precision with still greater development and production assured for the tha future |
