Show A 5 smi K K i H 1 S S p 1 III I I I mi XI K 5 i iba S i X M a I 1 L 1 Is il 1 wn p auh 1 1 I I 1 91 I 1 r g au k vi I 1 9 rb I 1 PARK CITY consolidated HOT arter arteil GOLD tile the following is taken irom from the salt lake evening telegram ot of february eth no time Is being lost by the park city I 1 consolidated mines company in starting I 1 the development of the california gold I 1 property whose acquisition under an all option was recently announced the option contract was taken over from the allegheny el dorado gold mining company by a newly organized nevada corporation called the yellow jacket consolidated gold mines ltd under its terms the yellow jacket will own outright and without indebtedness all ot of the property and equipment of the former allegheny el dorado the park city consolidated soli dated gets the right to purchase control of over 61 51 per cent of the issued stock of the yellow jacket tor for this stock may be purchased monthly with funds supplied tor for development 0 or r other work by the park city consolidated the claims that will be owned by the geilow jacket con cover the outcrop of the colorado osceola gold quartz vein for a distance of approximately feet their geology Is said to be very simil similar to that in the famous sixteen to one property near by can begin immediately J J beeson vice president and general manager of the park city con says in a circular letter to stockholders of chati company mailed out friday under present conditions with the gold property fully equipped to carry on oil mining operations and with a new 10 stamp already constructed r and paid tor for we can begin operations on development work immediately with an excellent chance chalice of encountering high grade gold or ore I 1 the rhe best ore shoots in the sixteen i toone to one occur in their large quartz vein I 1 where it Is either crossed by or close to I 1 the serpentine dikes these dikes in al te riling from perl dote to serpentine have swelled and the pressure thereby set up has micro fractured this quartz vein this micro fracturing of the quartz i opened it so that gold solutions could impregnate the fractures T the he gold solutions were apparently introduced thru I 1 cross fisser fissures later than the quartz vein I 1 bathe itself and tha macro fracturing when these cross fissures intersect the quartz I 1 vein at points where it has been micro fractured that Is near the serpentine dikes it Is a favorable place tor for the deposition deposits on of high grade ore shoots there are similar serpentine dikes crossing the yellow jacket property and cutting I 1 through the strong quartz vel veins na on that property most of 0 the preliminary development work to date on the yellow J jacket has been done driving toward th these es e favorable areas and only a small a amount of additional work Is now necessary e a mogno sa on n the yellow jacket to reach thel the areas which should have similar geological conditions to those in n the original sixteen to one where their main ore shoots occur cent the sixteen to one mine Is said to have been started on oil its present dividend paying record through the expenditure of and up to 1930 it had paid in dividends to its stockholders since 1930 it has continued to the pre sent date as a steady dividend paying mine and we ale aie reliably informed that tor for each dollar of gross production there Is a net profit of 42 cents after paying the cost of mining and milling which Is certainly far above the average will finance alith stock park city consolidated plans to finance the operation mr beeson says by the tays sale of treasury r stock to I 1 its own stockholders under a special allotment together with the description of the california project there Is given in the circular a tabulated history of the operations erat ions lons of park city consolidated mines from its beginning in june 1928 to june 1931 when work was temporarily discon tinned awaiting a higher price lor for silver this shows chows a total production of tons ounces of gold ounces per ton ounces silver ounces per ton 2098 lead pounds average content per cent zinc pounds average per cent smelter returns gross 1 net after freight and royalty it Is encouraging to note mr beeson remarks that not only was the production substantially increased but also each year the average grade of the ore showed improvement during the last month of operation the tonnage mined amounted to tons or a little over a hundred tons a day with a silver content of ounces which was the best month so tar far as tonnage grade of ore and mining costs casts were concerned during the entire history of the mine the mine is now in ili condition so BO mining can be resumed at any time without t delay when the price ot of silver warrants such a step J S J BEESON TALKS BEFORE SALT LAKE STOCK EXCHANGE acting on the advice of president cole of the salt rake stock exchange to have mining men and mining promoters to give short talks every now and then during the sessions of that body the suggestion was acted upon last tuesday and mr J J beeson general manager ol of the park city consolidated of this city was tho the f first speaker there was a large attendance tend ance and the address of mr beeson received close attention mr beeson gave the geological explanation of the peculiar deposition of minerals in utah tracing the same mineral from the uintah mountains m e east ast of palk paik city to the oquirrh rv range ng e at bingham he credited this area w with ith 77 cpr cent n of the e m mineral ral output of the state amounting to nearly 2 billion dollars the genesis of the park city consolidated was interestingly described active operations were started in octo bar WT 1920 1928 and on march 26 1929 the first discovery ry or of lish high grade silver siller ore was made at a depth of feet below the mall main tunnel level considerable work was done in the oxidized silver ores which h tc h p proved r 0 v ed to bo e somewhat h r alto in wa ana bl offic ouicla atmil d distribution st ra bu t 1 0 n and d dini cult t to 0 mine n e with the low price ot of silver so the underground ero un d workings were extended down to tile the 1000 foot level A little above the boo foot flot level sulphide ores were encountered and on the silver vela vein alone an ore shoot teet feet in length was developed Is several other veins were also discovered that will add to the futhie production of the mine mr beeson touched on oa the worldwide world wide influence of silver money saying it was vas yv A 1 iw indicated that the lowered price of silver has had a tendency to make the silver using g co countries u atries conine their purchases to th their ir own domestic products almost ito to the total exclusion of foreign manufactured atti ai tides articles cles and that this condition lo 10 arlly to be remedied in ill the near future especially in view of the tact fact that the countries that have gone off the gold standard at the present time enjoy a 20 per cent advantage over products sold cold to them by the united states mr beeson stated that after the temporary suspension of operations in park city that he had made many examinations of mines in western states with a view of finding a promising gold property tor for development eventually a property ol of outstanding merit was selected he said which will be known as the yellow jacket consolidated gold mines ltd at alleg hany sierra county california RELATED PROBLEMS the silver problem has become inextricably ably involved with most of the other economic and social problems now troubling the world says an exchange it Is an amazing situation millions of people in many countries have seen their buying power drop to a traction fraction 0 of its former level purely because of the decline in the value of silver caused by the general shift of nations to the gold standard tan dard now it has been found that she tho commerce of the world cannot be cairned on with cold alone there Is not enough or of lt it and furthermore the great bulk of the existing supply Is controlled by two countries the united states and france it Is encouraging that many economists I 1 in all countries are now working for a so solution 1 ution various conferences have been he held id and others are planned the public itself la Is gradually learning that depressed silver Is an enemy of employment lEm ploy trade and industrial activity CROSSCUTS mr air wm gay the former competent superintendent u perin of the mayflower Is now during the close down of that property Is serving as watchman of both the mayflower and star of utah properties mr and mrs gay are now making their home at the commodious quartiles ML s of the star 0 of f utah mr gay Is of the opinion that work w will III be again in full blast at both of these hese properties by the first of april N N blye consulting engineer of the park city consolidated was in the park the first of the week he Is hopeful of the metal market taking an upward trend in the not tar far distant future and then the park city con with other properties les of the district distri dt will spring into activity a gain again and unemployment gradually eliminated the silver king western the coming producer in the scott hill section has been dally daily quoted in the unlisted stocks for or months past at 25 cents bid and 40 cents asked but never a sale recorded the quotations are evidently the work of speculators who would like to draw out some of the stock the stockholders however are quite content to hold ci on and thereby be richly rewarded later on STOCK SALES SALE S ro FOR R WEEK WEE K FRIDAY park city con 1000 park utah 0 SATURDAY park city con ac park konold ac park utah MONDAY new quincy 33 3 and ac silver king coalition 0 park city con 1000 loc TUESDAY new quincy 30 park city con 91 c WEDNESDAY park utah CD a silver king coalition 1020 0 and new quincy 0 3 and ac THURSDAY new quincy 2 aj and ac slier silver king coalition 2 85 Park Utah SHIPMENTS silver king coalition I 1 park utah consolidated total |