| Show mining news for past week CHARLES MOORE NOW CONTROLS PARK GALENA WORTH MILLIONS TO STAR OF UTAH AND MAYFLOWER DJAY FLOWER dear mr I 1 did not intend to announce just now that I 1 bought the park galena property or the im majority ity of the park galena stock as I 1 f feared eared all our star of utah stockholders would immediately med lately throw their stock away or give it to some one or sell the stock for ten or fifteen cents a share H however 0 wever the damage is done anyway we h have a ve some fourteen hundred star of uta utah s stockholders tock holders and all but nine of them have just broken their legs or have just been thrown 0 out t of employment ploy st or must buy a a torn tombstone b one tor for their grandmothers or else some other great misfortune has just overtaken them out of some fourteen hundred star of utah stockholders more than ninety nine per cent of them have lust just had bad some awful bad luck or some very great misfortune has just overtaken them too bad too bad Ho however uever what Is one mans loss Is another mans gain the c cold 0 id blooded facts are that star of ut as prospects are nearly one hundred per cent better now than thi they ey were a short time ago and star of prospects have always been remarkably good any one who knows the actual facts knows that my buying park galena lor for mayflower will be worth a million dollars in the long run to star of utah it if I 1 had not actually received personal letters from thirteen hundred ninety one of our fourteen hundred star of utah stockholders during the past four weeks telling me of the terrible misfortunes that have suddenly swooped down on them I 1 would not and could not believe it of the thirteen hundred ninety one star of utah stockholders whom old bad luck has just claimed tor for his very own everyone except five of them wants me to buy his star of utah stock back or give him his money back these five have resolved to hold on to their star of utah stock until june or july before selling their star of utah stock tor for fifteen cents a share these five along with the other nine brave and faithful few intend to stay with the old boat a little while longer ahr three e e cheers for these fourteen heroes ail together now lets give them three rousing cheers I 1 it would not surprise se me or any one else who Is in the know to see star of utah cutting up some great capers by or before june I 1 intend to go on my annual two days vacation june and when I 1 get back june nth I 1 expect to find a message from john D fisher to come over to the mine quick and see the new strike of wonderfully rich ore above the tunnel level that can be mined at a big profit one ot of the girls here in the office was mean enough to hint or intimate or insinuate that thirteen hundred and eighty eight of the thirteen hundred and ninety onel one who have written me such heart breaking letters during the past tour four weeks telling of dark tragedy at and d woeful want are nothing more than pre varica tors or to use plain english ding busted liars this office cynic says that these old i reprobates want to leave star or of utah the faithful wife and chase off after that high kicking flapper hussy may flower i surely there Is no truth in this surely the charms of this sprightly flapper miss mayflower would not so affect the sense and good judgment of sober sef date star of utah stockholders to such an ex extent e as to 0 MA make e them em lose their air heads and hearts completely well we shall see what we shall ahall see CHAS MOORE february 25 1929 NOTE while the papers were drawn and deposited in the bank some time M ago and while part of the money in f connection with the contract for my purchase of about a two thirds stock interest in the park galena has been paid yet the park galena Is still under the present management and it Is not likely that I 1 will take charge of the pro p perty erty until some time in march or about april let C al WHY THE PARK BINGHAM WAS SOLD TO MR DIR MOORE some lew few weeks ago mr myers bolee boise idaho wrote the mana management gemen 0 ot the e former park bingham property for information why the park bingham was sold bold and the following reasons were assigned which will prove ot of interest to the records many readers dear sir answering your question as to why we sold the park bingham bangham property in the part park city district to charles moore I 1 will say that financial necessity forced us to sell this property tor for when we considered it easily worth charles moore got a bargain because we had to have the cash we drove about 2000 feet ol of prospect prospect ing tunnel at shallow depths tn in 1823 1923 to 1926 and found some of the highest grade ore ever found in the park city district our engineer our geologist and myself after comparing our ore showings with those found in advance of big ore bodies I 1 in other parts of the district and comparing geology were convinced that we had proven the properties for big production of high grade ore at depth but when we started sinking a shaft on ore that would average to 6 0 0 0 in value to the ton we hit a 9 gusher u sher of water and were forced to quit because our pumps would not pump out the water as fast as it came into the shaft we then tried to raise enough money to go lower down the mountain side and drive in a drainage and development tunnel the tunnel was planned to come in under this ore at a 9 depth ot of about 60 feet so as to drain off the water and mine the ore at the lowest possible cost per ton we could not raise the money so we were compelled to stop work about two years ago last spring I 1 am firmly convinced this property will make a great mine the ore was getting wider as we were going down on it in the shaft and I 1 believe you will find and a big body ol of high grade ore directly under where we quit I 1 loo look k lor for this ground to produce ore at a higher average value than any mine yet developed in the park city district I 1 am glad to see the property go to a company of 0 which charles moore Is the guiding genius I 1 know that he be with your operation cooperation co will be able to raise the necessary money to fully develop the property and I 1 know that every man who puts a dollar into it will get a square deal with best wishes for your complete success I 1 am yours truly A C christensen pres salt lake city utah dec 10 1928 THE EST EAST SIDE IN THE LIMELIGHT sixty years ago the hills of the east park city district echoed to the roll of blasting the clang of pick and shovel and the rattle of rock emptied down steep 8 slopes strong showings of mineral were developed assiduously this activity continued until one day rector steen happened to knock oft off a piece ot of rock and uncover the outcrop of the famous ontario mine says the western mineral survey As a result of this discovery a rush tor for claims began and the park city district was mounded the ontario became one of the richest producing mines in the united states other strikes were made to the west ot of the ontario and park city began its career of productivity which with the years has increased rather than diminished coincident with the finding of the ontario the daly the daly west the judge and the mines forming the old silver king coalition interest in the cast side aide languished with the exception of 0 mining a decade or so later at the vallejo the liberty the hawkeye and mchenry this area was neglected outside geological theory of that day contended that it lay in the pale of the productive area even owners of the ontario who to in driving the no 2 drain tunnel struck the strongly mineralized park utah ns sure bure did not think well enough of th the Is showing to investigate its possibilities had they done so the present park utah mine 1800 feet of the east of the ontario drain tunnel would have been opened up in the e early BOs rather than in 1920 today conditions in the park city district are the reverse of what they were sixty years ago although the mines on the west side are as aa productive as ever it la is the east side that now claims as a result of the wonderful of the park utah a preponderance of attention big capital enters field A number of highly significant factors entered into this condition acquisition of a large acreage by the park premier mining company controlled by the international ter smelting smelling Sm elting company rom pany exploration on the park city consolidated plans for activity by the park city coalition rne inc and numerous others will make the east park city district the most active camp in the west during the coming summer the list of companies organized to carry on intensive work in the east P park city district has been further augmented by the park city utah mines company capitalized tor for shares divided into shares MINERALS AND WORLD SUPREMACY with a 0 fifth of the worlds population the north atlantic countries art are doing two thirds of the worlds work said professor 0 K X leith chairman ol 01 the committee on foreign and domestic mining policy of the mining and metal surgical society of america the united states alone is doing about 40 per cent of the worlds work and its nearest com great britain about a as much in summary the mounting world de mand for minerals has brought more anc continued on pago page five mining matters Conti mierl from page one more centralization of industrial power powe in the north atlantic countries the mining industries ot of the world will remain tributary to the north morth atlantic countries for a long time to come we see more and more clearly that the preponderant position of the north atlantic countries is not a mere passing episode but Is based on a real concentration tr a t I 1 on of mineral resources of a quantity distribution grade and availability which can hardia be duplicated elsewhere and which assure primacy in heavy industry for hundreds of years to come JUST TO LOON LOOK THINGS 01 ER EK W S mcfarlane master mechanic of the park utah consolidated mines corn com pany came up from salt lake the fl first r st of the week to remain a day or so looking over his field of labor mr mcfarlane is on a lay off for a month or two but I 1 comes up occasionally lust just to look over conditions condit lons mr eric nielson Is in charge during th the absence of mr mcfarlane the latter expects to spend a few weeks in california during his present layoff lay off TO BE TAKEN OVER BY ONE OF THE BIG COMPANIES A special meeting of the stockholders of the martin gold and silver mining company of this city will be held at the office of attorney J E johnson on t the he of this mouth month tor for the purpose c of if accepting or rejecting an option for th the e sale of all the mining ground 22 held eld iby by this company this property consisting of so feeal claims Is located in hhaynes joining some of the holdings of the silver king consolidated the supposition Is that the property Is to be purchased by one of the big companies of this famed i district the notice of meeting will be found in this issue 1111 MAKING KING BETTER PROGRESS THAN EVER superintendent john D fisher was over from the star of utah yesterday the gentleman says there Is much snow in that section of country together with nipping cold weather mr fisher says there has been nothing of particular importance happen at the property the past week because or of change of formation better progress than ever Is being made in the long tunnel and the objective becomes several feet nearer with every shift good progress Is being made also in the crosscut on the twelve foot fissure mr air fisher reports with small streaks of ore coming in every now and then WAS OVER AT THE ARK nuck STANDARD AI naper M N A dunyon of the park standard came up from salt bait lake last saturday and in company with james byrne went direct over to that property remaining there until tuesday only one shirt shift is at work at present but is as soon as lumber can be hauled over to the property an addition another 11 be added to the bunk house and knotner shift put on mr dunyon reports conditions as favorable as ever with every indication that ore Is not far away LEAD AND COPPER GOING UP new york dispatches of the to the salt lake tribune says the american smelting smelling Sm elting refining company today advanced the price of lead from 6 95 to cents a pounds pound the price of copper for domestic delivery was advanced 12 1 2 cent to IS 18 34 3 4 cents a pound today after a 14 1 4 cent advance on monday offerings of the metal were scanty even at the new price and IS 19 cents was ws believed to be the objective of the present move the export price was advanced to 18 34 3 4 cents tut but was expected to go to 19 cents tomorrow maintaining its customary level of 14 1 4 cents over the domestic price copper Is now at the highest level since it went above 19 cents during the inflation ol of commodity prices in 1920 it has risen to the present level from 16 12 1 2 cents at the beginning of the year the increasing red metal prices have resulted from heavy demand both domestic and foreign buying of the metal has been in record breaking vol volume ume la in the past year going to the heavy production ot of radio and electrical equipment and automo automobiles viles most alost of the metat metal now being bought is for june delivery ins as practically none Is available earlier prices have been rushed up by the heavy pressure of orders resulting from hasty buying by ultimate consumers hoping to make their purchases bafo before re advances producers having had unpleasant a experiences with ore product production ton in the past have been reluctant antto to increase their output orl on the strength of the current buying as they have been unable to decide how much of it is lor for current consumption and how much is for future use in efforts to beat advances ORE BODIES OF NEW QUINCY GETTING BIGGER reports yesterday from the new quincy were to the effect that the rile ore bodies being penetrated are inar increasing easing both in magnitude CIO and values and that conditions generally at the property are improving as development progresses stock on the salt lake mining exchange continues active and Is holding up well the closing sale yesterday registering per share those on the inside 0 are re inclined to the belief the price of the at stock 0 ck Is due tor for a good advance within the next month it if unlisted non brodu product c bag eg prospects in this district is worth to a share with stock changing hands at this price nearly every iday day on oil the exchange then the new quincy with better than in its treasury and shipping better than tons of high grade ore per day should be worth at least per LOCAL STOCK SALES FOR FOB WEEK MONDAY east sa st utah 1100 31 and keystone new quincy i and park king 1600 33 and bic silver king coalition 1375 and 1362 park premier 2400 87 and three kings ac park galena 2000 16 kind and park nelson 1000 0 a TUESDAY past east utah 1300 0 sic new quincy and silver king coalition 1375 and 1362 park galena 1000 park nelson 1500 65 and csc park premier 1150 95 and konold park city consolidated WEDNESDAY keystone new quincy 1600 and 1871 2 park king 1200 31 and silver king alne coalition 0 1375 and 1362 A park ark nelson 1900 68 66 and park ark premier 96 and abc bbc park ark galena 2100 16 and three kings 2000 0 7 and so east utah THURSDAY east utah 1100 0 and new quincy 1000 silver king coalition 1375 part park nelson i 71 and park par galena 16 A and park prettier premier sl 00 and bae three kings Q sync SHIPMENTS park utah consolidated j silver king coalition i new quincy 1 total I 1 |
