Show 1 4 ah P po i i i i i 0 i H i i i 11 1 1 1 1 1 1 1 1 1 1 ciffa m liffin M M I 1 I 1 R M 6 I 1 N matthers I 1 THE GOLD AND SILVER PROBLEM in the opinion of many ex experts sound bound world economic conditions depend largely on restoring a fair balance between the value of gold and silver it Is only by cheapening 1 gold 1 e endearing silver that we c can bring to an end the disastrous deflation dell atlon which Is holding our commodity and security markets in its grip says nene bene leon an authority on banking and exclia exchange ng here Is a problem that can well engage engage the best financial and govern governmental ni intelligence telli gence ot of all the great nations chaos in world coinage acts as a barrier to stability and progress 1931 ASSES assessment WORK MUST BE DONE owners ot of mining claims should not forget the fact that congress adjourned adlo umed march ath without having passed the smoot bill providing for postponement P pon ement rit of an annual nu a 1 assessment work for mern I 1 1931 93 and 1932 so t the h e work must be done when the united states entered the world war such a bill was enacted into law dun due to the fact that there quickly followed the mobilizing of men lor for military service AT PARK FAKE STANDARD president N A dunyon and james byrne returned from the park standard property tuesday alter after a tour four day stay sizing up conditions T the h c b tig lg e east a s t w west e s t fissure u c cut u t last week e k fass rela last Is b being e in g d developed e v e 1 0 p e d the h e face c e Is hige highly h 1 y mineralized and mr dunyon Is of the opinion that ore will soon be encountered work Is also being prosecuted in the main drift on the north south fissure which aich Is also very promising with only tour four men working because of the stringent times development work progresses ses slowly wednesday a directors meeting was held in salt lake it at which time assessment notice no 2 of one quarter of a cent per share was levied I 1 STOCK SALES FOR MEEK FRIDAY park city con 1000 hac silver king coalition 3 a sa 3 90 and 3 85 park premier 61 6 and ac SATURDAY park xing king 1000 lc park premier 1000 ac park utah silver king coalition 10 3 85 MONDAY new quincy 2500 ac park city con park utah ff a silver king coalition ea 3 and 3 95 TUESDAY silver or 1 king I coalition and sa 3 87 new quincy 5 and ac park utah WEDNESDAY sliver king coalition 3 85 to park city con THURSDAY new quincy ac silver king coalition REGARDING PARK KING AND PARK STANDARD sinking of the wenze from the to the level has been completed at the park king mine in the east park city district and now the company is drifting to open up a short distance from the what Is believed to be the park utah fissure work at this level has reached a depth corresponding to the ontario no 2 drain adralia tunnel level according to manager N A dunyon in the western mineral survey of may iday ast 1st the ontario tunnel lies to the west in the property of the park utah on the foot level of the park king adjoining the park utah to the east the company opened up a number of strong fissures assures in which quartz vein filling with good mineral values was exposed the most promising of these showings was selected and sinking of the started to explore the at depth in sinking the several veins were cut that pronounced to be the park utah fissure assure had a width of 26 25 feet near vein A few more rounds should put the face of the crosscut on the level into the objective fissure after which drifting on the vein will bo be done the formation Is the ontario quartzite the same as that w which aich in the ontario the daly the park utah and the park city consolidated has carried all the big ore bodies at the park standard a drift has been I 1 driven northwest on the sliver silver xing king lime 6 tone stone bedding recently a crosscut was started about leet feet back from the face to find a fissure that on the h surface 8 shows hows strong etring the ff e fissure assur r 11 is so strongly mineralized that manager manag dunyon wishes to prospect it where it intersects the limestone beds so productive in the silver king coalition and other park city mines other work done W work or k in n th the 4 e park standard la Is proving a number of interesting things concerning the geology of the little developed territory one outstanding fact is that the park city limestone extends farther north than has been previously shown on geologic maps of the district the park city fornia formation fornication tion sit at this point Is beginning to show intense it was to the north of the park city standard sta lard a short distance in th property that a fortune in high grade copper ailder gold ore was taken chitty or forty years ago from the quartzite the P park it st standard a Is prospecting the I 1 park city lim lime stones and ontario quart zito tor f r the extension of the valeo and other strongly gly mineralized veins in this I 1 area I 1 MANAGER J J BEESON GIVES I 1 SPLENDID REPORT OF PARK I 1 I 1 CITY consolidated I 1 during the past month progress at the bpark park city consolidated mines company property in the east park city district has been most satisfactory according to J J beeson vice president and genera manager in sundays salt lake Tri tribune buhe mr beeson made the following report on the recent operations I 1 production during the month amounted d to tons of ore which averaged 40 cents gold ounces sliver silver and jr in I 1 a addition the lead amounted to a total ct 0 pounds while the zinc z anc to totaled pounds in most cases however the percentage ot of lead and zinc has been too low for us to receive payment from the smelting smelling sm elting company the total gold produced amounted to 65 ounces while tho the total silver amounted to ounces expenses expense for operation pe ratio n W were ere approximately r burt casy 1 0 1 8 G while the net ar smelter nelter returns t n am amounted 0 u n t ed to after deducting a approximately 2000 in royalties which would leave a net profit of about 1500 for or the months operation inasmuch as about 2000 of 0 the above profit was re presented in the payment of royalties which apply on the purchase of 0 the property it leaves an actual deficit of approximately tor for the months operation I 1 mine costs costa kept down ini in view of the fact that tha t t two wo h headings ea d 16 gs have been driven on development work not in ore we consider the above record as most satisfactory because after charging the total cost ot of operation including overhead and all other items against the tons of ore produced the mining cost amounts to au per ton with a normal silver market the cost ot of production would be slightly more on account of an increase in the cost ot of labor and supplies but the actual net profit would rapidly increase to the point where the company would be adding materially to treasury tret sury for the present the management considers the production record as most satisfactory s a t 1 stac tory because of the fact that the a actual c t u I 1 receipts from ore shipped even with this low sliver silver market ar are su sufficiently III c I 1 ent large to almost meet the entire operating e g costs and at the same time additional dra thoin dit ional n al new development work Is being garried carried on with a view ot of opening up new territory the new development work of the past mouth month has been confined to a drift on the roosevelt vein which Is now over feet east of the place where the silver vein intersected the roosevelt two new ore shoots have been encountered but sufficient development wor work it has not been done to demonstrate their importance the work only indicates that the roosevelt vein carries the same character of ore as that found in the silver vein drift work being continued on the level we are continuing a drift toward the southern boundary of the property in the janney limestone horizon which has produced replacement ore bodies in the western part ot of the district this limestone nas has been considerably sider ably altered and mineralized with iron but as yet no ore has been found additional fissures are known to outcrop on the surface to the south of the present lace face so we hope that this work may lead to the discovery of replacement stiver lead ore bodies in tho the limestone a the future of the property Is naturally closely connected at present with the price ot of silver this in turn Is connected with the worldwide depression we are hoping for a gradual improvement in general business conditions and a corresponding improvement in silver prices if this takes place within a reasonable length ot of time the company will receive the benefits of these improvements at present the company Is employing a total of sixty men mea and we anticipate continuing both our shipping and developing ve work IN ORE OHE NEARLY ALL AT STAR STAB OF UTAH superintendent fisher ot of the tha star of utah this morning reported conditions more interesting than ever at his pro perty he informed the record that the west drift had been in high grade ore nearly the whole week ranging from three inches to two feet bunches ot of very high grade ore continues to come in the upraise strengthening the belief that a big ore body is in the close proximity the past week a station has been cut in the west crosscut and sinking on the fissure will commence within the next day or two ORE CONTINUES AT TUB THE MAYFLOWER superintendent oay gay informed the record this morning that work la Is doing being pushed in III the west drift of the mayflower with ore showings all the way the hope Is the big fissure of that section will soon be cut and a nd instead of scams of ore as at present a big commercial ore body will be opened up it Is only a matter of time before this property Is on the shipping mt hat part park city consolidated park utah consolidated silver king coalition total T |