Show 4 i 4 MM 4 H th M k t fr 41 l ma m 1 1 mini nig mattush mattu sr I 1 1 1 I 1 PARI CITY consolidated M IKES REPORT TO ISE OUTPUT production of the park city consolidated mines company coro will bo be gradually I 1 I 1 increased irom from the present output of between 30 to 70 tons to between 80 and tons per day according to J J i beeson vice president and general manager in his annual report the park city mine was closed down during 1932 but operations were resumed I 1 on january 1 1934 shortly alter after the rise in the price of newly mined silver to 61 vt cents an ounce balance sheets as ot of december 31 1933 show current assets of 1597 53 and lie liabilities bili bill ties of including leases I 1 and bonds aggregating mr beesons bensons Be esons report tn in part follows during the last months of operation in 1932 it was necessary to confine the work almost entirely to ore extraction with only a minimum amount of development for flor the immediate future it will be necessary to reverse this procedure thus tor for the first thirty days after january 1 1934 expenditures will exceed income from ore shipments for the next month I 1 believe the production from the mine will pay operating costs and thereafter profits should gradually increase the duration of the latter period must neo nee ess essa arlly rily depend not only on the tha ore that can be mined from the silver and RO roosevelt cosevelt veins but also from new discoveries co on other veins the outlook for the future ot of the property I 1 consider as exceptionally f favorable a o r for several reasons the mj kostam 0 min may by be summarized as foll follows 0 wa 1 the th 0 park city district Is one of the ahrne three great mining districts of ulan and its production of mineral wealth in dicatos that where geological conditions have been favorable large commercial ore bodies have been formed this Is borne out by the tact fact that from 1870 to 1933 the district has produced 00 from gold silve lead adz ores in tho the same period it has paid in dividends during this period silver I 1 amounted to fine ounces 2 the property of the park city cita r coni consolidated I soli dated Is located in the eastern section I 1 of the park city district where geological conditions are favorable for silver ore bodies in fissure veins and tor for silver lead zinc replacement ore bodies in the limestone beds 3 the ore production from our pan an perty since 1929 has proven 9 a well mineralized area in this section of the park city district it Is not possie poss lb 4 to give any definite assurance as to the tonnage and value of the ores that will be produced from new territory in thel the future at this time I 1 can only say that being in a district with such an excellent history and with the ore bodies alrea already developed in our property th there e re la is good reason to believe that we w will I 1 be even more successful than in the pas past t ore reserves 1 no estimate can be given at present as to blocked out ore reserves be because lecausi during the last year that the mine was operated it was not possible to dyste systematically in ati cally block out ore as in the earlier operations ns much ore lawer than 20 and ounces of silver will be found bordering and continuing from the areas already scoped and several faces of ore running 20 ounces or better will be read ready I 1 toi for mining within the next thirty days on the east crescent vein some distance from either the silver or the roosevelt veins the that was down feet below the level when operations erat ions ceased Is now being continued and within the next feet the sulphide zone should be encountered where I 1 expect to find ore bodies similar to those on the silver and roosevelt veins another vein in the vicinity of the on the crescent vein will be prospected and here again I 1 expect to find additional silver ore on the surface at least three other veins are indicated which will be prospected when the time permits to date the production from the mine has coma come almost entirely from fissure veins inthe in the quartzite but along the silver vein below the foot level a limited amount of replacement ore was found in a limestone bedding while the amount was not large enough to be of any importance r in so far as production was concerned it I 1 did indicate that a greater depth with more intense there Is an excellent chance of finding replacement ore bodies in the limestone I 1 praia present indications there are several years ol of prospecting and develop ment work ahead ot of vs us above the water level but at some borne future date mining may be continued below the water level which now stands about 20 feet below the foot level on both the silver and roosevelt veins ore shoots shoot continue below the water level I 1 i officers and directors reelected elected re at t the th s annual meeting are george H dern dem president 5 3 3 beeson vice president preel dent and general manager james H devine sec c detary norman N X i blye vloe vice provident I 1 R B porter vice president prel dent H M L nova bowe 1 treasurer and these together with A 3 A boadway J L chadwick and nd J X A howell constitute the boid board of directors I 1 IMMEDIATE CAMPAIGN OF development I 1 president andy hurley of the city development coin company pany gives ITOI out the pleasing that the old american flag shaft bao ban boon reopened iop nd down to the 1100 toot foot level endig no being put in she aap for active mining and development by the th above ad company which lies bu win over aba property reopening of the tb lower TT that considerable ore which wasp wpm assod up during the erly early dy days will now cow b be available for shipment duo iu to vis rise r la iri gold and silver team fo ago uw the acarl can flag produced considerable ore with predominating gold lut the past week mr hurley burley has h ta boon making a complete com checkup of the lower low workings with the view of 0 launching an a immediato campaign of development work STOCK SALES AND METAL debrue re brue and bar silver wax io ov o V L 14 aa 4 of CK COW 7 the nine 4 3 0 local ituk oil lr ace c arty das w GI caa c if 0 91 ii 14 to esc jasitt va we ro as M a wf M oilme go a 1 I low q tt 1 I ia 60 I P 40 WM 0 W 1044 40 DAV dayi 11 66 VMS at so copper or zinc the local baies saies sales today were park city con 1100 2100 i 32 and 32 va c park premier emier 1000 tic silver king coalition and MONDAY bar silver slipped back c to 44 lead copper back to 7 65 zinc 4 40 local stocks a bit stronger today park city con 1200 32 and silver king coalition 1100 ta 9 00 silver king western TUESDAY bar silver a advanced yoe c to 4 44 4 4 no change bange c in other metals local sales lor for tuesday new quincy 2000 en 0 ac park city con 30 and silver king coalition 60 9 00 WEDNESDAY bar silver up another ise c bringing it up to 44 no change in lead copper or zinc local stocks a bit higher with a lively arket sales were east utah 2000 ac park city con 2000 park premier ac silver king coalition and silver king western 1700 park utah pat i THURSDAY bar silver remained unchanged at 44 Vs lead remains at 4 00 and copper at with zinc at 3 90 local stocks remained firm with a sensational sat ional lorial rise in the park utah jumping irom from on wednesday to thursday closing at the record hopes the advanced price means resumption c ot f work soon a this big property sales for the day were I 1 park city con 9 a 32 and park premier us V T 7 ac park utah ob it 4 35 and 50 sliver silver king coalition 9 00 silver king western e ORE SHIPMENTS I E silver king coalition park city consolidated total bar silver today 4 c |