Show The Present Prest Price Pr ce Plan pg As it Effects New ew Park I The break in the wage stabilization lino with consequent rises in all otner otiler costs and the reestablishment of OPA CPA has effected adversely the operations at New Park mine As we view the situation present the continuation of ot opera opera- operations operations Is problematical and we feel teel that the intentions of Congress are not being fulfilled fairly The wage increase of or 18 V cents per hour with retroactive pay p y awarded by bythe bythe bythe the Government was put into effect July 1 1 1946 It was was wa's our understanding when the mines accepted the award that the Increase as well as other resulting costs would be fully compensated for by the Government since ceiling prices on metals restricted their natural rise to take care of ot Increased costs Twice we have submitted bills for reimbursement of retroactive pay to the Quota Commit Commit- Committee tee which stated in reply that our earn earn- earnings earnIngs ings togs were enough to absorb this Item This Is simply hedging and the repudiation repudiation repudiation tion of a promise See Chester Bowies Bowie's Interpretation of OES 34 of June copied In a letter to by Hart copy of which is attached our past earnings cannot absorb this retroactive pay and recuperate the mine after the program followed during the war years so that it itcan can continue to produce Increased development costs alone will amount to some seven dollars per ton of ore shipped Which is con con- considerably considerably considerably more than past earnings Public Law approved July by bythe bythe bythe the Congress directs Continuation of the Premium Price Plan and plainly states B the premium price plan for copper lead and zinc shall be extended to June 30 1947 on terms not less favor tavor- favorable favorable able to the producers than heretofore To carry out the instructions of Con Con- Congress Congress Congress gress the Quota Committee revised its formulas but as far tar as we have been able to decipher the result of these changes we are left in a n. decidedly less lesa favorable position than heretofore es especially es- es especially especially in view of ot the fact that we have dead horses to pay for tor in the way of ot Increased mining cost In addi addi- addition addition addition tion to the increase in cost of or all items necessary to put the metals on the mar mar- market market market ket due to our efforts to do our share in meeting the war emergency Up to July 1st we operated with earn earn- earnings earnIngs ings lags regulated by the Quota Committee and obviously satisfactory to them To reviSe these downward when the break in the line lino Is certainly not meet meet- meeting meeting ing lag the intent of ot Congress New Park is a 0 small mine No large largo ore bodies are or can be blocked out To 10 unduly restrict the earnings when the mine Is in ore leads only to disaster when more searching and less tion is necessitated I Explicitly what we want are reimbursement reimbursement reimbursement for tor retroactive pay amounting i to and adjustment of premiums j. j to cover er increased cost of current opera opera- operations operations and deferred deterred development work I t All pertinent data has been submitted I to the Quota Committee Our program for tor production in the tho immediate future i will depend upon the assistance It provides NEW PARK MINING COMPANY I By W. W H. H H. H Cranmer President and General Manager I October O tober 2 1946 1046 STOCK STOCK SALES I THURSDAY I East Utah Utah bOO 1000 New Park Park 1200 1200 2 10 Silver SUver King Western Western 1400 1400 New York Exchange Park Utah Utah bOO 1000 Silver SU King Kind Coalition Coalition Q I FRIDAY East Utah utah bOO 1000 New Park Park Park-loo 2171 2174 Park Nelson Nelson 1000 1000 New York Exchange I Park Utah Utah 1700 1700 1 Sliver Silver King Coalition Coalition 1500 1500 MONDAY East Utah Utah Q New Park Park Q Park Konold Konold Q lOc New York Exchange 1 Park Utah Utah 1500 1500 Silver SUver King Coalition Coalition 1600 1600 Q TUESDAY 1 East Utah Utah Q j I New Park Park Park City Con 1000 1900 Park Premier Premier bOO 1000 Q s Oc I New York Exchange Park Utah Utah Q c Silver SUver King Coalition 2200 2200 f WEDNESDAY East Utah Utah Utah-lOO New Park Park Q Park City Con Q I Park Nelson Nelson 2000 2000 Oc Dc Park Premier Premier lOc bc 1000 Q j lie lic I New York Exchange Park Utah Utah 1900 I Sliver Silver King Coalition Coalition c 1 SHIPMENTS I I New Park Park Utah Consolidated Park Utah Keetley Sliver Silver King Coalition Cons I I Total T |