Show mining news of 0 f this district STAR or OF UTAH STEADILY NEARING OBJECTIVE speaking ot of the star ol of utah one ot of our mining ining m exchanges ot of recent date da to says gays ono one ol of the most notable features ot of current mining news Is the extraordinary activity in the park city district utah this Is conceded to be one of the greatest mining districts irk in the country not only in its past production but also in present activity and its outlook tor for the future Park utah consolidated listed on the new york stock exchange Is one ot of the great silver lead producers ot of the world and Is the greatest silver producer in the united states it pays 80 cents per share annually in dividends and has sufficient ore reserves for an indefinite period the ores also carry values in zinc copper and gold another of the big park city companies the silver king coalition in n its annual report lust just made public shows dividend payments during the past year amounting to more than and total dividends to date from the sliver silver king property amounting to nearly star of utah mining companas comp anys property immediately adjoins the park utah consolidated which has a dividend record or of nearly the highly profitable ore bodies in the park utah consolidated soli roil dated had previously been definitely proven to exist in ground now owned by the star of utah company by what Is known as the wabash discovery in 1908 and developments in the ver mine which followed its rich ore right up to the star of utah boundary line charles moore in a lecent statement says two years ago I 1 organized the star of utah mining company we have sold 9 bout about worth ot of stock besides the that I 1 put into it and besides the that superintendent john D fisher put into it star of utah apparently has every chance tor for making a big success I 1 look on star of utah as being one ol of the safest mining propositions I 1 have ever run across I 1 hope we can start paying dividends as soon as we get on a mine paying basis the property of the star of utah mining company comprises approximately 1200 acres in the park city district all in one compact group the pr property la is owned outright and la Is practically all paid forthe for the one exception being a tract of ground on which the remaining bai balance Is payable only from part ot of the ore if and when actually produced the main objective of the star of utah tunnel is the big ore body discovered by the wabash people about twenty years ago a go in the star ground samples from this ore ran from ounces silver to ounces in silver and from 12 per cent to 18 per cent in lead the ore also carries considerable values in copper and gold work on this ore was discontinued by inability to handle the excessive flow ot of water but the star of utah tunnel will completely drain the property at depth below the rich ore EAST UTAH MINE GIVES EASEMENT 1 park city Is to be the scene of another large scale mining adventure this is forecast by the fact that on thursday the east utah mining company ratified an easement whereby ch charles aries moore park city operator receives rece alves the right to operate through the east utah tunnel coming soon after mr moore made his payment on an option lor for stock of the park galena mining company h 1 i evident that the east utah tunnel will be used as an approach at depth to par galena ground says saturdays telegram organization of the mayflower mines corporation has been effected by mr moore some time ago this company required acquired control of the park bingham tho gr group up adjoining the park galena and the star of utah As outlined in the western mineral survey of january 17 mr moores plan at that time was to drive the park bingham tunnel to develop park bingham ground at depth and RISO also to afford the star of utah mining company in an entrance to its property pio perty feet below the present tunnel level evidently this plan has been changed to allow tor for the driving of a tunnel at even greater depth into all three moore properties the east utah tunnel with its ita portal near keatley the park utah community should afford an excellent outlet tor for any ores while it would give great depth in the park bingham the park galena and the star of utah the south face of the east utah tunnel has been advanced to the south sideline of the companas comp anys ground a distance ot of 2700 feet from the portal from this point to park galena ground will be feet where the ore hearing bearing glencoe fissure should toe be cut at a vertical depth ot of 1600 feet at the same time the park bingham ground will be prospected MOORE PURCHASES MORE PARK CLAIMS charles moore head bead of star ot of utah mayflower and who recently purchased control ot of the park galena has purchased the holdings of the park superior company consisting of ten patented claims adjoining the star of utah on the east in the park city district salt lake mining and legal news PARK CITY COALITION PLANS development in a 86 recent market letter arthur thomas inc brokers announced that tho the park city coalition company Is planning to install machinery and laurich launch a program of development on its park city properties as soon as weather conditions will permit this company controls the north star arid and bankroll Ban kroll and other groups on the ine east t limb of of the palk paik city anticline financing tor for the development work Is under we way Y SALT LAKE EXCHANGE WITHDRAWS recognition fuoti UNLISTED STOCKS the salt bait lake stock and mining exchange h monday withdrew official re cognition from 23 unlisted stocks which hitherto have been traded during the dally daily sessions aits nits action was voted last 1 week by the governing board and listing i committee ot of the exchange and became effective monday eight industrial stocks and six oil i stocks which have been posted on the board although they were not listed wel e removed and the exchange secretary ceased calling 9 mining stocks which have been traded in the past on the so called ae d 0 open en b board car d th the re record car d however will give quotations on unlisted stocks HIGH AT THE PARK CITY consolidated tuesday of this week general manager J J beeson a of f the P park a rk C city I 1 ty Con consolidated soll accompanied by mrs beeson came up irom from salt lake city both visiting the mine and experiencing a thrill at the rapidity of developments and the apparently patently ly certain indications ot of a coming big producer mr beeson brought back with him several samples from the fissures assures cut in the property which justifies the present steady advance in the price of stock and also the optimism of those in charge as regards the future of the property mr beeson informed the record that the underground shaft la Is now down feet A station Is being cut on the 20 level but the intention Is to continue sinking the shaft to the level when another station will be out cut and drifting commenced from both levels developments are being prosecuted with three shirts shifts twenty two men being employed employ ed sample from the fissure away assay in gold silver liver and lead and in the opinion of at mr beeson ore is in close proximity and developments are being watched with the keenest of interest by all concerned many of those familiar with the geological features ot of this property predict it wa will 11 be another silver king everybody hopes so for with another silver king or park utah right at our back door would be a most wonderful thing t h ing for tide the future of park city attention of the readers of the record la Is called to the descriptive article of this property by mr geo watson salt lake published in this issue PARK UTAH TO PAY PAT REGULAR 20 CENTS directors of the park utah consolidated mines lunes company have declared their regular quarterly dividend of 20 cents per payable april 10 to stock on record march 19 this is the first quarterly dividend for 1929 amounting to on the outstanding stock and when hen paid will bring the grand total of dividends paid by the park utah and its constituents to during 1928 the company disbursed a total of to stockholders george W lambourne vice president and general manager reports that everything la Is running satisfactory at the park paris city property and he Is optimistic over the outlook tor for stiver silver lead producers due j to the recent advance in the price ol of the 1 latter appreciates T THE H E 1 MINING 11 NING NEWS OF THE RECORD the following letter was received this week the likes of which always brings cheer to the heart of a country newspaper publisher pu alisher bl isher greensboro worth north carolina I 1 march 7 1929 park city record park city utah dear mr As one of the many who are receiving the record I 1 want to give you a word of appreciation I 1 watch for it with interest especially for the mining news I 1 always run over the whole paper to see what of special interest I 1 can pick up about atall utah her progress and her people a north carolina Is quites quite a distance from utah but my family and I 1 love that faraway state very cordially itally yours ROBY C DAY DAT PARK GALENA stockholders MEETING TO HE BE HELD SOON on the ath of next month at the newhouse building salt lake city the annual stockholders meeting of the park galena mining company will be held when a new board of directors will be elected and other business transacted among which will be the confirmation of the recent purchase of control of tho the companes company comp anys ps stock to charles moore president ot of the star of utah company the mayflower company and other valuable adjacent mining properties ROAD IN BAD CONDITION president N A dunyon of the park standard one of the many promising properties of the east side returned from a three day stay at that property the first of the week the gentleman reports the roads in bad condition and thinks it will be three or four weeks before they will be in condition to permit the hauling of material to the property mr dunyon reports work progressing very satisfactory Con considering aldering the small force at work with strong in the three headings the park standard will be among the number of east side properties to give profitable news to their stockholders before the end of the year CONTRACT OPTION RATIFIED president chris stoven steven manager of the martin gold and silver mining earn company tor for the past twenty five or thirty years yeam came up from salt lake tuesday rues day of this week to preside at a stockholders meeting of that company held that day at the new park hotel or at which time nn an option to sell the property was ratified the claims of the company will be at once patented and the he deal consummated mr stoven steven would not give out tor for publication the name oll of the purchasers or the price decided upon which he said would be made known later ater the group of claims constituting the he martin gold and sliver silver are located in hhaynes canyon adjoining holdings of the silver king coalition and the tha silver king consolidated v conditions MORE FAVORABLE THAN EVER AT TIIE THE STAR or OF UTAH superintendent Su eident J D fisher ot at the star of utah accompanied by W R price now of yuba california and one t the dest best known mining engineers and As in this intermountain country came over from the property wednesday both gentlemen were quite enthused over existing conditions r engineer price had been over to the aro perty jour four or five days inspecting and studying the lay of the land asat as it were to a record reporter mr price said on pago page alte t I 1 mining matters I 1 H M 4 4 HM M 4 M M continued from page one development work was progressing at a rapid rate with decidedly pro promising I 1 in dictations both in the long tunnel and in the drift being run on oil the twelve foot staure cut in the tunnel last fall nine mine feet a day la is being averaged in this drift and during the last three days a decidedly encouraging change la is taking place with high grade streaks ot of ore coming coining in and the whole f face a ce highly miner mineralized allred this drift Is being run directly southwest and it Is estimated with every toot loot being run arx an additional six inches of depth Is attained as bald mountain ls Is penetrated at considerable depth mr price Is emphatic in his bis statement that there are great things ahead for the star ot of utah while mr price visited both the mayflower and park galena pr properties es both controlled by mr moore he would give nothing out lor for publication as details are not yet complete dismissing the subject by saying that good news would soon be forthcoming regarding these holdings POR TED BIG STRIKE AT 1 I 1 NEW QUINCY i most favorable reports have been c coming 0 m from the now new quincy the past w week e k more than tons of ore is being mined mined dally daily with ore reserves increasing as development I 1 i this morning it reported from what Is considered good authority that a very important strike had been made on the of this property feet below the present big ore body being mined the strike is reported to be of rich carbonate ore assaying ounces of silver development work has been prosecuted on this level tor for some time past with every promise of ore being encountered i and this tact fact gives credence to the report of this morning i the record endeavored to locate mr hurley but the gentleman Is out of the city and the report of the rich strike could not be verified evidently the reported strike Is true for lust just as we me are going to p press ress the stock on the salt lake edcha exchange advanced from to on the first call i great are park city mines I 1 I 1 STOCK SALES FOR WEEK FRIDAY 1 east utah a new quincy 1350 and IS park premier and silver king coalition 14 1425 25 I 1 park nelson park galena b isac c keystone NaIl driver park king 1000 SATURDAY east utah 88 i b new quincy and park premier 5 and park king 1000 C silver king coalition 50 14 50 park nelson 2200 66 and park city consolidated 1500 1 15 park galena ft a 26 S a and MONDAY east utah 1500 new quincy 2260 1 85 and 1 SO park premier and Nall NalI driver unlisted quotations park city consolidated bid 1524 asked park paris galena 16 and park nelson 68 58 three kings 11 TUESDAY Nall Nail driver 42 anc and 1 new quincy 2931 L 90 a and 2 1 park premier and park king I 1 unlisted stocks iraik 1 ark city consolidated bid asked 1 park galena 16 leo park nelson 58 three kings 11 lac I 1 WEDNESDAY new quincy 2255 Q and 1 90 park paris premier 0 and park king 2812 28 bic c unlisted stock park city consolidated bid asked park galena 1 park nelson three kings loc lie ile THURSDAY new quincy and paik king i silver king coalition east utah soc Nall driver park premier 15 unlisted stocks park city consolidated bid asked park galena 16 and illic park nelson 60 and three kings 11 and SHIPMENTS park utah consolidated silver king coalition new quincy total |