Show I II I It i t i M ii T o OLD OLI VALKO TO lO DEVELOPMENT 1 I T VORK fOHl The Tho Valco Valeo Consolidated Mines com corn company company pany recently Incorporated In Utah has ha started development work on the old Valeo mine which was WM a n leading pro pro- property property property perty in the East Park City district In inthe inthe the tho Values of or the ore mined and shipped were ere in copper silver slIver and gold Around the tho turn of the century a at tunnel t nn l was driven GOO COO feet lower than the tho th outcropping to crosscut the ore fis fissure fis- fis fissure ls sure but although the tunnel was ex extended x- x tended 1200 feet It failed to Intersect tho the fissures In 1904 1 about feet of or orthe the tho tunnel caved In and no work was I done after that time Ume I Recently E. E E A. A Hewitt after making 1 an examination of the property said thc I lower tunnel instead of or tho ore fissures largely paralleled It Since Sinco the Valeo Consolidated Mines' Mines acquired the property on c clease lease and option from the Valeo Mining company compan controlled by the Kearns es estate es- es estate I tate machinery and equipment have been Installed and a a. crosscut started to contact the ore fissure This crosscut I which Is expected to reach the objective In about feet has progressed about I 85 feet I Officers of the th Valeo Consolidated are are areG N. N G. G Morgan president W. W H. H H. H i Cran-i Cran- Cran Cranmer mer vice president and general man man- man man-I ager Nicholas G. G Morgan Jr secretary and treasurer Mr Cranmer lives lI at Keetley The Morgans are arc of or Salt Lake City Salt City Salt Lake Tribune ANOTHER BOOST FOIl TOR LEAD Press dispatches of or the say American Smelting and Refining com company ft pany Friday advanced the price of or lead 15 of or a cent to cents a highest since September 1937 and second boost this week Dealers estimated that present pre nt demand for lead lend an Important Industrial ana anci armament material was running of or the available refined supply October shipments for Instance were figured at tho highest for the year and the largest since the buying spurt at the start of the tho war In September 1939 AT TilE TUB NEtS XE PARK p. Notwithstanding the fact that New Park Is being kept down It being quoted today at 29 20 cents bid 29 29 cents asked asked- I the Is In a better phy phy- steal condition on ever before Its history Ore bodies are increasing In extent and values gold values going higher and higher as development pro pro- progresses progresses greases the huge former Indebtedness Is practically wiped out the treasury steadily Increasing Its funds and the dividend period of or the property Just around the corner so to speak No ye e stockholders the above Is not cracked-brain cracked merely hot air by a newspaperman but can be he substantiate by anyone sufficiently Interested to In Investigate in- in or to visit the property andT see for themselves PARK 1 UTAH UT CONSOLIDATED IN IX SPLENDID SIL SHAPE The Tho Park Utah Consolidated Mines company operating In the Park City district Tuesday reported net Income for forthe forthe forthe the nine months ended September of after depreciation but be before be- be before before fore depletion and tax charges chargee The Tho company operated only on a Q part- part time basis baris during the same period last year with a net loss resulting Net Income for the third quarter end end- ended ended ed cd September was compared with in the preceding quarter and In the tho first quarter I Ore sales in the third quarter totaled compared with In the I second quarter and In in the March I quarter Total Income for the nine-month nine per- per lod amounted to with expenses I totaling Current assets listed on September totaled with the net networking working capital amounting to I The Tho Increase In working capital since December 31 1939 was WILL ATTEND FUNERAL FU ERAL James Ivers vice president and gen gen- general general general eral manager of the Silver Sliver King Coalition I coall-I Coalition I tion Mines company and governor of the Utah chapter American Mining Con Con- Congress gress grees left Wednesday evening for Reno fleno I Ito to represent the Utah mining fraternity at funeral services for the late U. U S. S Senator Key Pittman to be conducted today LOCAL I STOCKS AND METAL II TAL PRICES THURSDAY Y Metals Metals Lead Lead copper The Record week commenced with pleasing activity on the Salt Lake Stock I Exchange Sixteen state mining Issues changed hands totaling shares ten shares ten of I sold at advanced prices Among Amo g I this number four Park City small of ot same with ed cd hands hands three three gain New Park Park 28 28 2 1000 29 29 bid c 29 cloSing 29 closing asked New Up 2 c up c. c bc- bc Park City Consolidated lOGO Consolidated 1000 off orr 1 cent Silver King Western Western Q uP up 7 1 cents cents closing closing bid asked On the curb New curb New Park Silver King Coalition took an en upward trend today being bid and 1 asked I No sales The last sale of Silver King Coalition was per share i Park Utah also stiffened up up bid I 1 asked I FRIDAY I Metals unchanged traded today on Eleven Issues were I salt I Salt Lake Stock Exchange generally Exchange generally with upward trend Two local stocks I among this number one number one I New Park 1500 30 1000 29 29 29 2 28 SlipPing 28 slipping back 1 2 1 centS cento 10 iOV 10 Park City Consolidated Consolidated 1000 1000 2000 lOc 1000 4 10 10 2 cent gain Curb sale Sale New New Park Park 50 50 c Coalition and Park Utah I Sliver Silver King but no continue advancing In price price but i King Coalition went Silver resulted sales rates to Thursdays Thursday's bid cents over up UD 10 advanced 45 Utah Park and asked cents in bidding to bid and I asked SATURDAY No change In metals met p Local sales New Now Park Park 1800 1800 E H Hof of Y T I I I I New QUincy 1000 up Cc-up up ic be Park City Consolidated lie up Ic I Silver King Coalition Coalition Up ip since sinco last sale I On tho the curb Silver King Coalition ad ad- advanced advanced another 10 io cents 50 shares hares Belling Bell ll- ll ing for New Park disposed of shares on curb at 28 c. c TUESDAY Metals Salt Lake settlement prices Lead copper Local stocks Fifteen Issues changed hands on the Salt Lake Exchange today after n a two- two day shut down Slight was noticed Four local stocks found customers New Park Park Park-I a bit weak weak 29 and 1000 29 20 c c. c New up Sc-up up 14 cent Park City Cit Consolidated lie Silver King Coalition SO Coalition 50 WEDNESDAY Metals l Lead copper On regular Exchange today local stocks were entirely out of or the picture picture but but buton on the curb New Park found customers for two odd lots SHIPMENTS Park Utah Consolidated New Park Park City Consolidated Silver Sliver King Coalition con Park City Utah Total |