Show I M ning Matters I I 11 M A PROFITABLE UTER For the quarter ended September Silver Sll King ICing Coalition Mines company reports a net profit of after taxes and depreciation but before de de- de This is equal to 11 cents a sharo share on the shares of com corn common cornmon mon stock outstanding I During the quarter tons of zinc i concentrates were stored and valued at cost If stored concentrates had been heen I valued at market Instead of cost com corn company's pany's net profit would have been 1 equivalent to cents a share 1 I UTAH l METAI 1 OUTPUT The Tho value of gold silver sll copper lead and zinc produced from mines mintS in Utah in 1934 was compared with In 1933 or an increase of 41 per cent according to revised figures Just released by the United States bu bu- bureau bureau bu- bu bureau I reau of mines The feature of the mining Industry in 1934 was the Increase of more than 25 per cent In the production of gold due largely to the Increase in the average price of gold from 2536 per line fine ounce in 1933 to in 1934 Large increases In gold output were reported from the Utah Copper Manning Eureka Lily Utah Apex Annie Laurie Lark and Cen Cen- n- n Beck tennial-Beck n properties VO Both v. v the t I Floyd Mercur district of Tooele coun coun- county county county ty and the Gold Mountain district of county have been rejuvenated by the improved price of gold There was also an Increase of more than 25 per percent percent percent cent in the production of silver in 1934 In spite of the fact that production from the Silver Sliver King Coalition mine at Park City and the Tintic Standard mine at Dividend was less than In 1933 Com Corn Compared Compared pared with other states Utah ranked second in silver sUver production In 1934 af after ar- ar after arter ter Idaho Notable increases were made from the Park City Consolidated prop prop- property property property erty cast east of Park City the mine near Eureka and the Utah Apex mine at Bingham The output of copper Increased increased ed nearly 17 per cent duo due largely to additional production from the Utah Copper mine at Bingham The output cf of recoverable reco lead in 1934 decreased 1 per cent compared with 1933 and it was far less than the average lead production production tion of o the last decade The largest I pro pro- producers producers producers of or lead in Utah in 1934 were the Park mines near BIngham the Silver King Coalition mine at Park City the Bluestone mine near Stockton and the Tintic Standard mine at Dividend The output of recoverable zinc In Utah in 1934 decreased more than 5 per cent There was a decrease In in zinc from lead- lead zinc of the West Mountain BIngham district but an Increase from similar material of the Park City region About 90 per cent of the state zinc output was recovered from ore from the United States Silver SlIver King Coalition and Lark mines I A general Increase in mining activity was evident in all sections Though the value of the output increased decidedly in 1934 it was less than half haIr of the aver aver- average average average age annual value of the five metals in inthe inthe inthe the last decade Deseret Deseret News FRISCO SILVER LEAD D The Tho Frisco Silver Lead Mining 1 com corn company company pany whose workings are in the San Frisco Mining district in southern Utah about 20 miles mUes from Milford l which Is being promoted and financed by the Ridge Company of Salt Lake will ship Its first carload of high-grade high ore oreby oreby oreby by the first of next month according to President Louis F. F Block in the Deseret I News President Block says The newest development Is the latest of a a. series of showings that have havo been encountered on the 20 level and from all indica indica- indications indications Indications the best The ore are is making In the main west east-west fissure which was en encountered en- en encountered encountered countered about 50 feet f t out from the main shaft Tho showing along the of the tho fissure ranges from iya 1 to 3 feet in width and is a grey carbonate assaying as high as ounces sliver silver anti and 50 cents gold to the ton and from 6 to 7 per cent lead The ore has been followed to the east along the fissure for 15 feet and Is reported to be holding out good A drift to the west is following the same ore showing The main crosscut to the south Is being continued to reach the hanging wall of the huge fissure Last reports were to the effect that lead carbonate oro was showing up in the face I NEW ORE OnE BODIES General Manager A. A L. L Hurley of the Park City Development company told Salt Lake r. reporters yesterday yes that two important ore are bodies had been cut in inthe Inthe Inthe the American Flag unit the past week Both bodies according to Mr Hurley carry high-grade high shipping ore are He further reported that on the 1200 level drifting had been en prosecuted in a a. full face of ot high-grade high shipping ore for the last 50 60 or 60 feet This is feet south of the slope from which we have been en getting a substantial amount of gold silver stiver lead lend and zinc ore are for some time On the foot 1300 level we have been driving from the No 2 to reach an intersection with the Flag fissure and an west east fissure Three days ago we reached the west east-west fissure We have crosscut it for seven feet and thus far it Is all aU a 0 good grade of shipping ore This Is the first work done in the prop prop- property property property erty on that fissure This is probably one of the major fissures of the camp and the one that faulted the tho American Flag fissure The Theore Theare Theore ore are carries a good silver content and a 0 fair amount of gold in addition to lead and zinc The company is now producing 60 to 80 tons a 0 day and output will be con con- considerably considerably considerably Increased next week as the new headings are opened up In the next or feet teet of drifting on the foot 1300 level we expect to penetrate the Wasatch lime which is dipping to toward to- to toward ward us Four hundred and twenty tons were marketed from this property the past week NEW siw MINE nSE PACT At a special meeting me of Park City Mine Mill and Smelter Workers Union No 99 held last Friday night terms of ofa a a. tentative agreement with the Park City Consolidated Mines company on a a. proposed seven day week sought by the I company was given out for publication yesterday by President Edward Douglas J of f the local Union to Salt Lake papers Mr Douglas stated that the Union is definitely opposed to any extension of the tho present five-day five week because of re re- resultant resultant re- re resultant threats to health and because it would aggravate the unemployment sit sit- Under the tentative agreement all allmen allmen allmen men except those In four headings would bo be placed immediately on a a. five day basis This includes hoist and pump pump- men as soon as sufficient men are avail avail- available available able for these Jobs Men In the four headings who will work seven days per week will continue this schedule until the present Jobs are completed about January 1 I 1936 OPERATIONS SUSPENDED DED President W. W H. H Cranmer of the New I Park Mining company was In Park City Wednesday on his way over to the prop prop- erty He had rather bad news to Impart Because of the suspension of ot ore ex extraction ex- ex extraction extraction traction at tho the Park City Utah making it unnecessary for the use of the Star of or Utah tunnel by that company suspension suspension sion slon of development work at the tho I Park Galena has been made necessary Work will continue however howe at the Mayflower tunnel in pushing same to Its objective the objective the Pearl fissure in the Park Galena territory METALS AND A m STOCKS FRIDAY Tho The week commences with metal prices as follows Bar silver 65 lead copper zinc and Only one local stock changed hands Park City Con c 31 and 30 c. c SATURDAY Metals continue at same figures Two local stocks changed hands the hands the same old two two Park Park City Consolidated and Park Premier the PremIer the former selling 1000 the the latter for which was asked Thursday dropped back buk to bid bid and and asked Silver Stiver King Western 41 bid 48 asked MONDAY No change In metal prices Local Lacal stocks weaker on Salt Lake Exchange Only two attracted attra ed buyers Park City Con 31 30 and Park Premier 0 j ac TUESDAY Metals same as Monday Silver SUver King Western was added to the two local star stocks today today makIng making three town home-town stocks changing hands Park City Con 30 and Park Premier 6 and 61 6 c. c Silver Sliver King Western WEDNESDAY Metals continue at same prices Only two local stocks traded in on S. S S L. L I. I Ex Ex- Exchange Exchange Ex- Ex Exchange change Park Utah was once more in action going Park City Con 1100 c. 30 THURSDAY Metals same as Wednesday Three local stocks changed hands Keystone being called for the first time In months 1000 selling 12 cents cents 2 2 cent ent advance Silver King Western off of 2 cents selling Park City Con 1500 30 and SHIPMENTS JENTS Park City Consolidated Sliver Silver King concentrates Park Utah Consolidated Park City Development Total |