Show I a Mining o a ig Matters i A l I n i In Virgin Ground Operations are progressing satisfactorily ily lly at nt the Park City Development Dev property prop prop- property property erty In the Park City Mining region A A. L. L L Hurley president and general gen manager announces The bulk of the tonnage being mar mar- marketed marketed marketed is being mined from a a. deposit developed In virgin territory below the foot 1100 level Mr Hurley states While had toad air conditions have delayed work somewhat during the last two weeks this should be largely eliminated in the future he said A connection Is being extended feet below the foot 1100 level to con con- connect connect connect up two below that level This connection will permit better cir cir- circulation circulation of air Increased production of the last month has made it possible to retire a n sub sub- substantial substantial substantial part of the company's edness The company Indebtedness was contracted by acquisition of the American Ameri Ameri- American American can Flag property The Park Standard N. N A. A A Dunyon president of the Park Standard a promising prospect over on the East side was as a visitor to the property prop prop- property property erty Tuesday and Wednesday of this week A small force Is kept steadily employed em em- employed employed and are now doing development on a recently uncovered fissure that gives promise of gratifying results In the not far ar distant future They Th y are now in the Park City formation and both the management and miners are very much encouraged New N ev Park Doing Things New Park Mining company has com com- completed comI completed I negotiations for the sale of part partI I of its property in the East Park City district to one of the large operating companies it Is revealed by W. W H H. H H. Cranmer president of the New Park company in a letter to the company stockholders The claims Involved are the Look Look- Lookout Lookout Lookout out Mountain and Up Hard-Up groups on the east side of Bald mountain They are adjoined on the west by the Burns group purchased by the United States Smelting Refining and Mining company early in October for For its Interest in the Lookout Mountain and Up Hard-Up groups the New Park Mining company will receive Mr Cranmer's letter to the stock stock- stockholders stockholders stockholders holders follows When this company was formed by a consolidation of the Star of Utah May May- Mayflower Mayflower Mayflower flower and Park Galena Mining com com- companies companies companies a decision of the Utah supreme court had given the Glenallen Mining company the the- th right to redeem certain portions of the Park Galena property This decision has proved to be an ob ob- obstacle obstacle obstacle stacle to the operation and shipment of ore from the Park Galena unit of this company After patient negotiations by the of officers ot- ot officers and directors extending over sev sev- several several several eral months we are happy to announce that we have at last been able to reach an agreement between our company and andone andone one ono of ot the largest smelting refining and mining companies and the Glenallen Mining company which provides that as ns soon as certain legal matters are cleared up the deal will be concluded with the following results The I 1 The New Park company will re- re receive re receive cash for its Interest in certain claims Involved consisting of ap- ap approximately ap ap- approximately proximately acres 2 The Tho New Park company will wUl re receive re- re receive receive a clear title to the balance of the Park Galena property including the Park Galena mine and all buildings and machinery 3 All All suits will be dismissed and I settled forever between en the New Park company and the Glenallen company 4 The The smelting company will pay I I Ithe the New Park company for each ton of ore transported through Its Star of Utah tunnel and pay for part of Its maintenance ance in proportion to Its use of the tunnel The smelting company will de de- develop develop develop the upper part of our two Miriam r i claims within two years and will pay the New Park P rk company a no fair royalty I for ore produced The S 5 The New Park company will be enabled at once to open up and start I shipping from the valuable Park Galena mine which has produced over I from its present workings and shows increasing values and volume of ore with depth The Tho deal Is essential and very favor favor- favorable favorable favorable able to this company as It will enable it to start ore production at once and andas as soon as the deal Is completed will put Into the treasury tre of the company It Is s understood that a purchase agreement ement has been signed by all the parties involved and that completion of the deal awaits only the performance of certain legal details by the New Park company and the Glenallen company Ventilating System At American Flag a ventilating system was installed the past week and will be bein beIn bein in operation tomorrow tom Work had to be suspended for three days the past week because of bad air but air but from now on cessation of work on this account Work is progressing at this property with ore showings Increasing In grade and volume Through some error pounds shipment was not reported to The Rec Rec- ord The shipment this week Is s pounds pounds making making a total of pounds since our last report Metals and Local Stocks FRIDAY Bar silver sUver 65 lead copper zinc 4 85 Fridays Friday's sales Park City Con 27 and Silver SU King Western Q 36 and Continued on Page Four i Mining Matters i iJ J I I t I 1 t I 1 1 I I t U- U t tIt I I I loot 01 I t 1 I I t I I Jo Continued from Page One WEDNESDAY Bar silver unchanged Lead 4 50 cop cop- copper copper copper per 8 90 zinc 4 85 Local Loc l sales eales Park City Con SATURDAY No change In price of metals sales metals sales on S. S L. L Exchange Park City Con 2500 Silver King Sing Western MONDAY Same old story story metals metals unchanged unchanged- and Park City Con only local stock traded In 1200 Q TUESDAY Metals unchanged Two local stocks changed hands if Park City Con Silver SlIver King Kin Western THURSDAY No change In price of ot metals with metals with Park City Con again being the only local stock traded In 2000 selling Shipments Park City Consolidated Silver SlIver King concentrates I Park City Development Park City Utah Total I |