Show MinT Matters I 1 QT u L I j 1 J 1 I i t c IWOCK i Lii oni TO T. JUIT A. A O. O Mackenzie secretary of the UtAh chapter r. r American Mining Congress and chairman cf ct Utah's new copper opper tariff board received I ed a telegram Monday from Representative Abe Murdock pledging whole hearted d support cf or the board IB campaign for tor retention of ot the excise tax on imported copper I JI DROPS PEK xiat TON TO I In New Nw York last lut Monday tonda the American Smelting and Refining company reduced the price pets of lead 3 3 a ton to tile the th basis of cente cents a JIO I This followed a cut of or 2 a ton late last ast l week Previous to that change chan the price of the metal had been n marked up more than 10 10 a ton in a series of or advances advance starting on May I I MINK MINE fI E rI CI O j 1 i I I Directors of or East Utah Mining com com- company company pany have ha authorized company officials to o negotiate the sale aale of shares of or o f treasury t stock to finance development I i was S announced Saturday by byi i J. J W. W v. v Lamb president of or the company Company officials are arc already alre-ady negotiating with a prospective purchaser The pur pun purpose I pose paso of or the move Mr Lamb explained is u to avoid the necessity of or future ure asses asses- aments amenta I 1 The company has haa a capitalization of represented by shares of a par value Slue of 10 cents Approximately shares share remain in the treasury Mr Lamb reports that a new electric compressor and hoist have been Installed I and connected d up with power lines Un- and that the company will begin n sinking a shaft ahart Immediately Surface indications lead him to believe that the shaft will strike a fissure fiure at a depth of ot about I IL feet L I The company owns 10 patented claims In the East But Park City district The pro pro- property pert perty was operated from 1027 to 1939 1128 but was waa abandoned because of the de depression d de- de alter after had been spent In crosscutting in different sane cones It I Is a short distance northeast of ot to the Park Utah and Park City Utah and southeast of or Park City Consolidated j j OIL r Work has haa been n resumed for the season at the Long Wall Petroleum corporations corporation's operation up Chalk creek two miles from Coal v corporation officials o announced d Wednesday The corporations corporation's objective to is the Long Lone Wall sands at a depth d th of 1500 1600 to 1600 1 feet fHt The hole started two years ago Alo Is 18 Isnow isnow now down 1046 1045 feet When work was wu resumed recently the hole was extended feet feat In three days day Water Vater began flowing and drilling was wac stopped Workmen are sn now i the foot section NOtion setting a inch 10 cue case and stopping the flow Fifty feet teet of ot has been completed and It Is expected that the water will be abut shut oil off of and drilling resumed In about a week The present venture is ii the third at attempt at- at attempt attempt tempt to W strike oil on the corporations corporation's property The first hole was drilled see sev several eral era years ago by the Western Empire Petroleum corporation and a second was drilled by the Ohio Oil on company It to is believed that the earlier failures were W due to the fact tact that the holes holee were off the formation SEVERAL rn PARK HI CITY MIXERS MINERS OO GO O TO C. J. According to Salt Lake papers J. J J. J B lIOn who is 11 operating mining pro pro- properties properties properties in Inyo county California was wu In Park City the first nm of or the week wHit and reported that he now had eighteen men menat menat menat at work mining on his h. h holdings in the Golden State most mot of or them being bt Park City miners None better can be found In any mining section INDIANS S I MIXERS MINERS n rR The Mining and Contracting Review Re of Salt Lake City recently published a 0 car car- cartoon cartoon toon toora exemplifying the fact that the federal tede-ral government has appropriated more than for tor carrying on tho work of Its Indian bureau while bureau while It has appropriated less than for the Bureau Dureau of Mines The Reviews Review's sole comment Is Why add words to this The welfare of or the Indian Is Important but but It would certainly seem that the welfare of mining one of ot the few basic industries is at least equally Important In these days of vast government spend spend- spending s spending nd- nd ing for tor any and all alt purposes a bureau as os valuable as that of the mines should certainly receive a reasonable budget SILVER ER KINO KING COALITION CO VOTES on DIVIDEND m Directors of Sliver Silver King Coalition Mines company met Wednesday We after after- afternoon afternoon afternoon noon and declared the usual quarterly dividend of 10 cents a share on the 1 shares of or stock outstanding The dividend totals and Is payable July 1st to stock of or record June This Is the company's comp nys ny's third dividend this year ear one having been paid January 2nd and one April 1st lat The disbursement brings to the tho amount paid to stockholders since the tho mine began producing This Includes paid to stockholders of or the tho original Silver r King Mining com corn pany pony before the property was taken over May 20 20 1907 1007 by the Silver Sliver King Coalt- Coalt Coalition Coalition tion Mines company OAIS ASSESSED The Tho Increased price of or silver sUver and lead lend has awakened Interest Inter in the Howell pro pro- property property property perty over in the Big Dig Cottonwood sec sec- section tion and tion-and and many of or the local stockholders being desirous of resuming development ve work when tho the deep snows vanish from t high mountains In which Howell to Is 10 lo- the directors at n a meeting held In Suit Salt Lake on June Juno 1st lat decided to levy i an assessment of or 12 2 cent a shore share on all I outstanding stock Unpaid assessments rn en the day of or July will be bc delinquent I 1 and advertised for tor sale on the day of or July 1935 1885 This mis Is la the assess I ment levied on this property L. Hm OF OJ TIlE MAIN J I. I CHANNEL rI or 01 DUAIN I TUNNEL TU rr r.r. Word comes to The Record today that tho the enlargement of or the main channel of tte te Ontario Drain Tunnel to carry the aters rs of or the Park City Consolidated Mines property has haa now been completed Certain terms of the contract recently sned with the Park City Consolidated provided that tho the tunnel which they wro ro to drive to make the connection to tj t Park Utah workings was to follow tollow develop their Silver er vein v ln which has been their th lr heaviest productive fissure ad which had some years rears ago been be n fallowed f to within a few tew feet of or the tho the Park Pirk Utah property line Preparatory II eark rk has now been nearly the Park City and the driving d of this connection will soon lOOn start This Silver vein will wUl be followed on Its strike for a distance of about feet in Park PAtk Utah ground and indies indies- trona are a moat most favorable that this drive will develop silver bearing ores oree I The North crosscut from the Ontario Drain D aln Tunnel which was W S being driven at the time operations of the th Park Utah ceased in 1032 1932 cut n a fissure of or excellent appearance from which a carload of ore ort carrying c silver aUver values was extracted but tho tl stoppage of operations prevented Its Ita further development Recent J develop develop- meats ments of or the Park City Consolidated show bow this th fissure to be definitely an ex ex- ex extension tension of ot their productive East But Cres- Cres Crescent cent ceo vein In and It has haa been followed by I Ithem them westward to the Park Utah proper proper- property I ty line Une This leaves In Park Utah ground 1400 feet of or the fissure undeveloped be be- between between tween the Park City Consolidated work work- workIngs workings Ings In and the North crosscut of ot the Park I Utah The crew which has haa been engaged In the Drain Tunnel work wort will now be to develop this fissure flU where It crosses the North crosscut Ik n I to Is thought advisable In view of or the uncertain market mark price for lead and ateo to for the present limit develop develop- development meat ment work to the fissures ft ure mentioned which have most mOlt their values in silver nver I ITo ITo To further furth Inc Increase development work wort would require the starting of ot the large compressors and hoists which for tor rea- rea reasons I sons I of at economy of or operations to is not feasible until the prices of lead and zinc line or a further Increase Inc of or the price of or silver make an extended ex productive op op- operation op- op advisable I DALY n. WEST VEST J T REPAIRING O OI ITS I SHAFT IT I that the Park Utah will wUl willbe be soon lOOn resuming operations to is the fact that the Daly West shaft mart to is being put In working shape We W are going to have ban good mining news newl for our readers as aa the summer season HUOn advances I METALS tET AND n LOCAL J. SALES S. FRIDAY FRIDA Y Bar lIar silver went up lc 10 to 71 lead 1425 copper zinc Local sales East Utah 0 e 6 and lie Park City Con 1600 1800 41 and Park Premier 1000 9 0 Ic 70 New Ne Quincy 1000 0 3 20 c. c Park King 1900 1800 0 Uc c. c SATURDAY Bar Dar silver Vic Ic 0 lower lower No change in other metals Sales Salee Park City Con Con- 65 40 Vi and I MONDAY The week did not start as u optimistic as a. was wu desired Silver SUver dropped a KC ac c to toI 73 Lead was cut to and local I sales I on S. S L L. Exchange were few and weak Park City Con 1200 1 e 40 down to Park Premier Ic New Quincy Quiney g TUESDAY Bar Dar silver all down lc Hc to 72 Other metals same as Monday Local sales for tor Monday Park City Con 1100 9 Qt 30 39 and Park Premier Park Nelson fit ta 3 33 and WEDNESDAY Bar silver remained at 72 No change in other metals me Local sales Wednesday Park Nelson 2000 Q 3 c. c 1 Howell 2000 Q Vic c. c New Quincy 1000 Park City Con THURSDAY Bar silver weak e and down another 1 c to 72 Lead Is u sliding down and local stocks are lower and inactive Per Per- Perhaps Perhaps haps it is only a backward bo slip to ac acquire ac- ac acquire acquire quire a new momentum for tor a big rush forward Local sales for the tho day follow rollow Park City Con 1300 0 ea 39 and Silver King 1200 Park Ne Jn 09 I TS- TS J I Park City Consolidated Sliver Silver King Coalition Park City CI ty Utah Park City Development |