Show 1 K M i M e i i i S M K t K M S i K 22 arm t 2 2 i I 1 F 7 i I 1 a I 1 g awl a t rs I 1 it I 1 I 1 1 1 1 i CHEERING REGARDING PARK rity CITY several men were put to wor work k th tho first of the week at the park city con consolidated with mine superintendent desp despalj in in charge charee and yesterday morning the number was increased to twenty six th the e spur split of the union to tia the ke mine was shoveled shoie aho led out during the week and yesterday yes berday erday seven railroad cars wa was hauled to the loading station at the mine and andja it Is practically certain forty to forty flie men will be at work at the property within the next day or two this will mesa mean much for park city and likely will prove the opening ing wedge tor for other properties to resume work and increase forces at tto the working properties of the camp the regrettable low record price ot of lead the past week will not effect shipments from the park city con lor for the simple reason that no lead Is mined at the property ll 11 I 1 j to a deseret news reporter the first of the week general manager J J beeson gave the following information regarding his property the property was closed down on june 2 1931 duo due to the low price ot of silver which Is the principal product of the property up to that time silver for or that year averaged 28 2 cents an ounce the metal Is now hovering around 3 30 0 cents an ounce the park city consolidated property Is one of the lowest cost producers in the state with silver at 28 cents an ounce the company was able to return a slight profit on operations orations erat ions since that time supplies and operating costs have been reduced even lower during the last month of operation the I 1 tonnage mined amounted to tons or a little over a hundred tons a day with a total silver content of ounces which was the best month so tar far as tonnage grade ot of ore and mining costs were concerned during the entire history ot of the mine at the time the property was closed 40 men were employed it at th the I 1 property and its operation supplied considerable freight tor for the railroads and ore tor for local smelting smelling sm elting plants THE MINING PROBLEM GROWS UP we used to think ot of mining problems as being exclusively within the province of the metal producing states which are principally in the west says bays industrial review that attitude has been changed largely because ot of the drop in value ot of all silver ver I 1 this naturally forces retrenchment 0 on the mines and it likewise bif acts TO eat all I 1 by making times harder the buying I 1 power of whole nations has been C cut to a traction fraction ot of its former level andl and international trade Is falling failing toward the point of nonexistence non existence successful efforts to rehabilitate silver will naturally benefit the mines but the greatest benefit of all will go to the general public in increased industrial activity and employment FRANCE BUNTING SILVER COINS press dispatches say that although not scheduled to be put into circulation before the end of this year sliver 10 frane coins authorized by the law ot of june 25 1928 and accordingly ordered by the bank ot of france already have been minted it was announced by the french ministry ot of finance the paris mint now Is engaged in turning out silver 20 frane pieces authorized by the same law which directs the withdrawal from circulation before december 31 1932 ot of all the bank of prances frances paper notes worth five ten and twenty francs the law authorizing the coinage of silver money provoked prolonged controversial trover sial discussion in the press here as to whether it would cause the c cost 0 st of living to increase THINGS REPORTED TO BE MOVING satisfactory FOR STAR OF UTAH the newly elected directors of the star of utah held a meeting in salt lake last friday afternoon and elected the following officers for the ensuing year charles moore president T L walden vice pre ident J F r featherstone secretary secrets ry and treasurer president moore previous to his departure for yuba california was in the P park a rk S sunday und 11 Y and reported that while nothing definite had been decided upon is as yet indications were lvere decidedly promising tor for resumption of work at the star before long with cheering prospects of sufficient money being raised to clear all indebtedness to start off with a clean state slate and a bright future that Is the Iii cere hope of 0 all the stockholders and patient creditors STOCK SALES FOR WEEK FRIDAY new ne w quincy lc silver king coalition park utah 50 SATURDAY new quincy 1000 ac MONDAY park city con 11 and silver king coalition and new quincy 1500 ac TUESDAY park city con silver king coalition WEDNESDAY new quincy zac park city con 12 and lie ile 1 park premier ac silver king coalition THURSDAY I 1 park city con 12 at and id lie ile park nelson ivac AND stabilized PRICES in the march kiwanis magazine there Is a splendid article by arthur E seagrave a lawyer of rall fall river massachusetts who recently returned irom from europe where he conferred with economists bankers and others on money matters mr seagrave Is a bimetallist and handles the question in a masterly and convincing manner in a note by the editor 0 of the tha magazine in commenting on the article says mr seagrave claims the direct cause of world wide depression Is falling prices and that this catastrophic tall fall Is almost entirely due to the increase in the value ot of gold tills this increase he says Is the result of an unwise monetary policy he says that the corner 0 of about eight billions ot of the eleven and one hall half billions ot of gold in the world ot of the united states and france makes a bad situa situation tica worse we have he says again been gambling on the chance of getting sufficient g gold old from the earths crust to meet the d demands of trade and this time we have lost he argues in favor of an international conference tor for the purpose of cooperating on a bimetallic basis which would settle upon a temporary ratio be tween gold and sliver silver would open the door tor for prosperity mr seagrave concludes hla his enlightening article as follows the gold side has two arguments against international bimetallism 1 that it if adopted it would not succeed in raising prices and 2 that to cheapen our monetary po policy licy would be inflation both cannot be right it if inflation results it must mean higher prices and this is just what will happen inflation is a scary word it Is particularly ticul arly menacing to those who know the least as to what it means to the motorist with a flat tire inflation Is the one ti thing ing he believes in not that he would desire an inflation which would wreck his tire but enough to insure safe and smooth riding and that Is just the sort of economic inflation we need an international conference for the avowed purpose of getting together on a bimetallic basis would check falling prices before the delegates could meet the conference could settle upon a teal temporary ratio between gold and silver subject to variations until the desired price level of commodities Is reached not only will this open the door tor for prosperity among the former gold standard countries but will permit of trade with the orient without the present monetary restrictions the opportunity for trade with these countries when peace and prosperity Is assured Is ready to knock upon our door we cannot expect to be prosperous it if the rest of the world Is in distress our civilization will not long endure when civilization elsewhere dies people want opportunity port unity not charity and that opportunity will come when we readopt an honest money standard which will properly measure world values and will not suffer such price convulsions as have been endured by the world tor for nearly 60 years SEEMS TO BE GETTING G WORSE AND AN MORE OF IT wednesdays press dispatches conveyed the following rather distressing news the price of refined lead was established today at the lowest level for more than 30 years the american smelting smelling Sm elting and refilling company a leading producer of the metal announced ce d a reduction ol of 10 points to cents a pound NEW MINE MANAGER FOR FOB PARK PAK KING wednesdays deseret news says J L perri tor for many years associated with the hudson by bay mining company in canada has become connected connect ed with jas B allen alien at the park king property in park city it was announced today t 0 day mr mf ferri farrl will have charge ot of the mine under the direction ot of mr allen alien preparations for re reopening opening the park city property are now under way surface equIp equipment mert Is rapidly being put into share shape ard new bupp lles are being purchased mr allen alien plans to start sinking as soon as the equipment Is put in shape MR jr W MONT FERRY optimistic AS TO iro FUTURE FliT lRE or OF ell mr mont ferry managing director ot of the silver king coalition and president 0 the american silver producers asso cletion atlon rf ie turned from the east monday where he had been on an extended visit in n the interests of the white metal lie he N extremely ot of the future of uve live at ai d I 1 Is 0 of the opinion that some measure restoring to silver its function as money will be enacted by the pie sent session ot of congress and approved by the administration mr ferry said in part I 1 i s i thet antor es aks 4 l not confined i alIi red to representatives senta tives the wester narea and I 1 entirely nonpartisan it Is especially noticeable among representatives of the middle western and southern states state 1 11 I 1 where raw commodities are being produced it Is not at all likely at present that any advocacy of 0 bl will receive substantial support whatever may be ones view on this much discussed question it seems quite evident that the single standard la Is too firmly entrenched to be changed it Is however becoming an accepted economic truth that this standard must be broadened and strengthened to support the vast structure of credit and to that end the utilization or of silver as an additional metallic reserve against credit and note issues Is being favorably considered in important I 1 places all tour four members of the utah delegation are working earnestly and harmoniously to this end the western group I 1 of congressmen under the chairmanship of mr colton has had bad some interesting and educational meetings and has afforded substantial help to the somers committee mr loofbourow has ably seconded mr coltons collons Col tons efforts and representative samuel S arentz of nevada has also been especially active senators smoot and king continue to exert their great influence in presenting this important matter to their colleagues as have all the representatives from the western states in both houses of congress while the consensus Is that international action will be necessary to settle this silver question finally the conviction Is rapidly gaining ground that our cc country can and will by independent legislation lution Is take the leadership in recognizing the necessity tor for restoring to silver its function as money metallurgist A B YOUNG TALKS ABOUT SILVER during the recess hour of the salt lake stock exchange tuesday mr A B young the well known metallurgist ot of utah gave a brief arlet address on silver the gentleman recently returns returned d from rom a trip to now new york washington and other eastern centeio cen teis and discussed the silver question with many prominent men in different walks ot of life mr young said in part 1 the ab fooling feeling in the east Is not against silver allver he bald on the other hand they are arc ciulik to respond to any ally plan which will tend to broaden trade there Is to particular disposition to tavor favor any plan that will stabilize silver without interfering with the present gold standard stan dari mr young pointed out the need lor fo increasing the purchasing power of the silver using and silver standard countries beating that this would open new channels lor for american products the way to increase the purchasing power of 0 these nations and give the american merchant confidence in hla his market Is to establish sliver silver at some fixed price as a measured by cold tie he said SHIPMENTS silver xing king coalition |