Show N NN NN s i. i Park Mining Notes i IZ Z i. i NN NN N I PARIC OIL C COMPANY I Last week we mentioned that Dick Pelton president Len Leu McGarry McGarr I secretary an and l Charley Moore dIrector di director director dI- dI rector of oC the Park Oil and Development Development Develop Develop- ment meat Co had bad gone up in the Dig Big Piny Play oil aU fields to inspect their oil ground They returned after visiting visit- visit ling ing their different holdings and to say say that they urn arg pleased with their 1 I property would draw it mild They brought back some specimens of f the sand which may be bo seen at this o of of- I flee fice They have every indication of oC having one of the biggest oil propositions propositions In this western country There has not pot been a II well sunk deeper deep deep- er than eight or nine hundred feats feet feat I in fn the whole section They have a 1 I two hundred barrell barre II a II day well near i the Park Oil ground which is only feet deep but the owners will not sink any deeper deeler us liS long its us' s' s P It If holds out that good it netting them a day CAM CROSSCUTS The work of repairing and remodeling re re- modeling the Daly Doty West mill Is completion under the di dl- direction direction of I Foreman oreman R. R E II Hales Monroe Wheeler has located some promising claims on the West Fork of the Duchesne nb about ut SO 20 0 wiles tiles from Reber Where There rc la is i a large large larg vein of tho mineral o and nud a ablest lestis test lest Is being made mado to see sen whether whether- It iV It Ia la 1 of ot n a marketable quality The ore recently struck un on the of ot the I Is holding out 1 so jO well that another shift shift will be lie put on out lifter after the Fourth arid and heavy shipments will wUl be made lb det determined to b yo hu 1 the sun the sun shines Stock has bau been I selling at 20 o 0 cents tenta and andL Leases Fish 1 1 of et that VUlt those who I Jo 1 bought around the Uie 20 2 mark lark UJ yet t get a run iun for for monY of or f he ile f Oily tl ly Mining Alining com com- P b V. V h ht r l r erly dividend at af payable July 1 1 to tostock stock of record June Jun 24 24 On April 1 the company distributed a 0 like amount and the payment of or orthe the July 1 dividend will bring the total velvet of this Park CIt property up to Last year the company company ny paid dividends dividends dividends divi divi- 40 cents cents pers per Salt hare Salt Lake Tribune f ORE OUE SHIPMENTS l On Ontario Daly West Vest Judge Judge M S. S Judge zinc I BU Silver e. e King Coalition q qI I. Ill II Mil m f-m I Total lm J 1 KINK KING i CONSOLIDATED The Tho following circular letter has J bees een is t l She stock holders holder of or orthe the Silver SUver King consolidated c Mining Min Mm ing company At a 1 meeting of ot your Doard of oC Directors Di- Di Directors Di rectors held Juno J the expediency ency of paying the usual quarterly dividend on July 1st let was fully dis dis- cussed Consideration was VIlI given i i. t tho the fact that the tho surplus evenings ot of the last quarter may be required to complete the operations on which the future prosperity of ot the company company com com- pany depends depend and it was the decision deci deel- sion lion of the board that the funds in hand should be conserved until our twain object l Is attained 1 1 I I In III future explanation of ot this dl- dl we may lIa say that the purpose of present operations is to better our facilities for for- extracting ore oro from the vein In hi which we haYe have been mining for the past pact five years ars' ars and also 10 Jo tap t other fissures entering cur pur territory terr ter- tel ter r trout from an adjoining ln property property- TIJI Fhe pre pro channel hann now under dt dt- V Is covered co by our claims for u n distance of r IY ly feet It of nf SOU 1100 feet teet are ora ar J In 11 th the 1 I cis m On t th- th thea Mt t slops lori o of or Tt n cl canyon n and feet In the tha Oil and on the wet welt elope alope of the t Canon canyon C v n flips flips' 1 sv S r v s tho the ca jul h rii be beer been r t f toP foe f at ab- ab 30 foot Jeet el by tl the p t nt e l. l 11 bm oa on Page It Five t i. i r r I Mining Notes I Continued from Pace Pac One On On of oC intervening ground Our origin origin- il III working shaft is on the I Light claim at the easterly extremity ot of our holdings on the vein and a aleast ai at least feet feel from the point where when the tho vein veil reenters our domain iron from the territory of our neighbor Anticipating the future your officers officers of of- of- of many years ago devised r II new and economical method of at extracting ex ex- trading the ore to be used when distance dis dia I tance and water should I make further operations from the theold theold old shaft impracticable They also acquired additional territory in the section n that would be opened for development development development de de- by their plan The plan called for the construction construct construct- ion of or jv p drainage and development tunnel with Its portal near the railI railroad railroad rail rail- road in the valley and a course that thai I would interest every fissure in out our western territory for a distance of approximately ap ap- proximately three miles More 1 than feet of this tunnel tunnel tun tun- nel has been driven The work has hat I been heen paid for from earnings of ot the company over and above the dividends dividends divi divi- you have and ample I funds are now no noon on hand to carry the I tunnel t to points Meanwhile Meanwhile Meanwhile Mean Mean- while sixths five of ot the indebtedness incurred in the purchase of valuable territory on tho the course of the tunnel tunnel tun tun- nel net has been liquidated through the sale of treasury stock The remainder remainder remain hi der lIer will bo paid when due One Onehundred Onehundred hundred and six eighty-six thousand shares of or stock are still In the treasury I The total mineral production from our O to June 1 1918 was wan Dividends to that date vere wera ern 1 Practically all of the ore mined was extracted within 1800 f feet t of ot the the- shaft shatto The next three feet of ot the vein in lour our neighbors neighbor's territory was pro pro- rich judging from the dividends paid while It was under d de de- and we have every reason reason reas rau- on to b believe lieve tho the succeeding five thousand feet teet in our territory will trill willi i or surpass the previous average average aver aver- age of ot value per foot toot Tho The probability i ht lity of a R higher average Id is based on the fact that tho the vein forms torms a n. Junction Junc junc- dim tion in our territory with eruptive dikes which mark ark the source of ot the and has enriched two geological l al horizon here hore instead d of lune one its S In tho the old hl workings on the theas' theas ea as' as 11 of fit the tho ho c canyon uon I The first of the two ore horizons mentioned rise above bove the water line lino of the dl district lint extends to the It has haa been protected to establish beyond question quell queer tion lion that thu th veIn yen system crosses creases the tha projected l. l course of the th Spiro tunnel and continue through h our OUI western territory The rite tonnage e indicated laso Is la Isso so 10 enormous and nl our testa nn on p. p be or BO so aul that we te feel feel- l la to citing the r deposits aa Ui among the most S I e th s t nv They will wUl lo Q developed from tram r. r Lt 41 1 to 0 i the e e wat water r 1 wt t orM and below w tho v nt w wets t r Nv tI r th the J c C Iii md II luJ testa in rn II I our out Ko Ivo o. o 1 mill have demonstrated lemon that the heavy henvy tine line content bt of this ore orn wh I 4 1 been a R d detriment when shipped w th l th the lead leal and nil ell liVer ver can cah readily be separated front from the tile associated l and marketed profitably as a distinctive t. t In view of those these successful t we are re enlarging our No 2 mill to tott toa a capacity ap of tom tOil monthly We at are further IJ by our engineering staff that w we q ma may rena- rena 1 expect to encounter larger larer bodies of direct t shipping ore hUd supplying the retirements of ot the I mill from th the thI upper I horizon Tho The milling milling be will bl be In operation 1 a as a soon lIoon 4 as ae the ne necessary esslY mechanical tl changes change can be bo made and accommodations dation provided f for r a sufficient force of minera and milt mill men I I IOther Other Othe veins some nome of which have baiel produced millions million striking into our o r. r Thanes Thane's territory from the adjoining adjoinIng adjoining adjoin adjoin- ing property will be cut on the th l low lower w- w er ore horizon by our tunnel and lInd ma may my viral rival In wealth the Electric Light fissure 1 The full fun b benefits U of ot the tunnel however will 1 only be ba appreciated after it Is in service With rising I production costs extinguishing th the profits of many shaft mines the tho tunnel by eliminating hoisting pumping and surface transportation expenses will will place place us In pot a-pot It Ion to produce ore are at a lower cost than ever before The early realization of returns return returns from the upper horizon the opening open tD lag ing within a reasonable time of ot the lower horizon and various new now veins vein and the permanent reduction of mining costs all an depend on the In Instant Instant stant availability of funds for tar the tM completion of ot the Improvements in progress s' s With full fun confidence that you will approve our action n safeguarding our cash resources until we are firmly firmly firmly firm firm- ly established in this domain of we submit the limitless limitless- poll we above aboTe I |