Show NN N N 4 4 4 N I tu Park dark Mining Notes 1 N N Speaking of the this week Lessor Leaser J J. J D. D Fisher emphatically ly resented the insinuation iton that the property was being and gouged lie He Invites stockholders to Tl visit lt tho the mine and see for themselves them them- selves what kind of work has been done since he and associates secured a lea lease e. e lie He says they would find And that every Inch of ot development has been done In a workmanlike manner and the best Interests Interest ot of the stockholders stock stock- holders always considered lIe He says the property will be turned over to the company at the expiration of ot the lease in one hundred per cent better betor bet bet- ter or condition than when the leasers took ook hold of It It Is further learned I that hat tho the present lease was only given i en n for eight months tro from February this Ills year when according to tnt r r- r oration given the company will then then take lake over the l property levy necessary necessary sary ary assessments and endeavor tomake to tomake tomake make a II mine of ot the Mr C C. C II 11 Rood was In the Park Thursday Thursday Thurs Thurs- day and visited the property CROSSCUTS Superintendent Harry Lee re returned return return- urn urn- ed from Salt Lake Monday after a short stay In the metropolis Superintendent Oscar Friendly ot of the Judge Mining and aad Smelting company com com- company pany was a business visitor to the metropolis this weeK News from the Ontario is to the effect that the big strike on the 1700 Is la getting bigger and richer all the e time I i I I I I I I I i I I i I I M. M J J. J McGIll of the Bogue D gue Supply 11 company of at Salt Lake was ln In the I I Park two Iwo days this week Interviewing I our mining men Geo L. L Burton Durton and E. E L. L Talbot several I who had been in the Park several I days on mining business connected with the Keystone and other properties properties properties pro pro- I returned to Salt Lake SunI Sunday Sunday Sun- Sun day afternoon I t W W. It II H. Elliott E and Ernest 1 Fisher ot of of the Three Kings were In the Park and visited their property They found work progressing very satisfactory but had nothing new Dew to give out for publication 1 I General Manager Thomas Kearns of the Silver King Coalition came up from Salt Lake Monday morning making a brief visit to his big property property pro pro- perty pert an to the metr metropolis po- po lis 1111 on the afternoon train He lIe had nothing to give I e out to the press President Richard Pelton and DIrector Director Director Di Di- DI rector Charles Moore of the Park Oil OR and Developing company were visitors In the metropolis the first I pf f the week on matters connected I with the company and other business affairs r 1 5 I Superintendent Dave Sc Scoff tf was wal down from the Iowa-Copper Iowa the first f fI of the week He reported the physical cal condition of ot the mine excellent i I II with th the ore Improving in quality Six to eight mining cars are raised dally daily in the development work thatis that is being done I Interest in the holdings of the lh th Park OH Oil and Developing Company increases with the good news that IsI is coming from the property all nil the time This week a deal was closed with a New Y York York rk financial house whereby whereby the Ihu company gets g ets for development purposes Every indication Is le the local oil ail company is s going to prove prove a 0 big winner I SHIPMENTS I Ontario I Judge M. M S S. S Co Judge Judge M M. M S. S Co zinc sine II King Coalition I Daly iDaly West King Consolidated Consolidated Iowa Copper 4 J. J ONTARIO OFFICIAL REPORT In ha In Ina a supplement to to the tb annual rep report rt of ot the Onta Ontario Silver Mining company Pre President D Bamberger mak makes s official an announcement o W ment of recent recent re re- cent important discoveries oY rles on the 1600 and 1700 toot t ot le levels levels levels' l of the old Park ark City producer pro The Th Thare ore are says says' Mr fr Hamberger on the 1600 vei line tia has greatly Increased In- In in 1 1 creased In la value and late shipments lente from there att afford rd a good margin of profit On March March 2 a str strong g ore ere body was was encountered on the 1700 1 foot toot level which has hall since been developed de de- I ui more more re than sixty feet in in 1111 width The entire drift Is 18 Mill till in ore ore I Ii i and a all 1 Indications point to the ol openIng open open- I en-I 1 I Ing- Ing Ingup ng up up of at a largo and valuable val ore body tody 1 r I Leave L of h has b bleu been eu granted grunt grant grant granted ed during duTine O ri g th th the period er d of of Ilse he kar r y i I 1 1 to our general manager Ernest Damberger Bamberger Bamberger Bam Dam berger who Is now In the he service atthe of at the government Ou consulting engineer engineer en en- N A A. A Dunyon who has haa been placed In charge of op operations d his hla absence is IB very familiar with tho the details ot of op operating your property property pro pro- perty party and will w carry out th the development development development de de- policy polley heretofore outlined by your management REPORT The Tho report of ot General Manager l Ernest Ernest Er Er- rnest r- r nest Damberger Bamberger for tor the year 1917 follows Your attention is called to the I fact that while the tho quick show a material gain no no allowance has baB as been made for the depreciation In tn Inthe inthe the market value of oe our stocks and bonds As In the case of almost all aU securities a very considerable reduction reduction reduction tion in the tho market market value has taken place during the year worth of American Smelting and Refining company convertible convertible bonds were called called call catt- ed and cash received for their re rl- rl During the earlier part of the year the shaft was and the foot 1700 level was un watered sand land reopened Shipments from slopes on the foot 1700 level were started in April in a small way The ore are body which was struck on the 1600 foot level during 1916 was prospected prospect prospect- ed by about feet teet in drifts drift and 17 G feet in raises This TIlls development has shown a I largo large rge of miner miner- with varying values the 11 I I I I t 1 I I I larger part of ot the material developed develop develop- ed being too low grade to be treated treated treated treat treat- ed profitably under present condi condi- However the more moro recent work In the west drift of this level level has shown better values and a 0 better better bet bet- ter iter grade of ore are is being shipped from there It is believed from pre pro present present sent indications that a good ore oro body bOlly may nay be opened in this portion of the mine Prospecting on the foot 1700 level level level lev lev- el Is Is Is' being continued In expectation ot of encountering the ore shoots now showing on the foot 1600 level and above Ores of a n good rood grade have been shipped from other slopes which are looking well and are n now now w affording us a good production J EXPENSE GREAT The expense not only of reopen reopen- ing n these levels bu but the ordinary expense of operation Including pumping is so great greal that It requires a sa 0 large production In order to hope Continued on Page Seven 4 h 4 t Ontario Official Report i Continued rom Front tat ra p a In order lot to tu tobe tobe tubO to 10 derive n any Rny y profit profits be bO assured of continued le r ducton tine It will rH N necessitate further explore- explore thou work and the he up UI c ut t the development develop While more moro e favorable rl as B meat ment has hns not proved M as the whole le the was wan 1111 hoped for on mine mile looks larks I better hetler than linn when the last stockholders stockholder report r was pent to IU the A largo large tonnage o has hils been bron shipped ship pert ped h by the Ontario Silver Mining com company linn during the past year ear much there which of or It low ore on was but hut n a small margin This Thill In Included in eluded a n low grate product It from old uld 1 fillings s and old oM dumps It Is Is' Is estimated estimated esti esti- mated that a n considerable amount of oC ore or of this character and it U Uis itIs itis is possible loRl that some arrangement may be he made for milling this ore particularly if tr the price of silver ad advances advances vances the he outlook for which we consider brightA bright been A A large cash sh balance balanco has hns maintained ned BH as It hits has bren been felt that t necessities of plant betterment and the possibility of the tho erection of a n amill amill mill m mh might ht r require a n Jar large e sum of oC mane money The directors feel however that this balance Is sufficiently lar large e ami have concluded that If It earnings continue continuo as S they have In the past st few Cew months that consideration should be be given to 10 dividend disbursements On n account of oC the tho large lurge demand for Cur coal throughout the country It was was wai decided to reopen the property propel lt ty of the Weber Coal company four four- sevenths of the stock of this company company com com- pany being owned by the Ontario I Silver Mining and the reI re- re three-sevenths three by the Daly I I Mining company This Title property has hns 1 been idle for tor about three years and anti antiI I the spur from Crom the town of on the Union Pacific branch from Echo to Pa Park k City was in such condition con con- that the present equipment of tho the railroad company company could not be ol operated rated over It It A contract w was as made with the Union Pacific Railroad i company company which required us to advance advance ad- ad Ivance vance to that company for forthe forthe forthe the rebuilding of this spur rebate to tobe tobe tobe be paid ITS us on this account at 2 per ton on all coal handled over this spur for a period of six yeas and seven months until the sum stated is returned The railroad company let leta a n contract which called for the completion completion com com- of this work by November 1 1 last In spite of or our urgent protests and demands this spur was not completed completed com com- I to the mine until after the I end of the year The work of oC pumpIng pumping pump- pump Ing out ost and reopening this tide property property- has been very expensive and In order to carry carryon on this work the Ontario SilI Silver Sil Sil- I ver vel Mining company has advanced In fall all fo o the Weber the Weber Coal company 41 GOO The coal company Is now producing producing pro pro- about tons per day at a fair Call margin of at profit This production production production tion coil cnn be great greatly Increased whenever er the demand justifies J. TI ST. Cash and id bonds bunds on hand January 1 1 1917 RECEIPTS Ore sales Rents HEnts and I royalties Interest and und dividends Prop sale sale Sale Salo of oC ounces all sll Carried at at Grand Orand total DISBURSEMENTS l Mine I labor labor salure sal- sal ore ure expense and anti royalties royalties 1 Supplies and power 2836 General expense Taxes and Ins No 2 tun ex I New Quincy assessments 1500 00 Cash CaRh In Accounts receivable reedy reedy- able able STOCKS AND BONDS DONDS N N. Y V. City City 4 12 2 C tV M Bt M. M St. St P. P gen gait 4 l 1 53 OO C C. C M M. St. St S1 1 T P 4 2 1 t Sou aon pa Pac lna Con Can Gas Gall Co cony Gs a B B. 0 O. O gen mortgage morti ss V II Liberty erty h 1000 shares shares Kenne Kenne- colt cott Copper opper Total check assets January 1 1918 1 1918 MIS MISE 47 7 Int tot We Weber er Coal Co 3 1 lot let MID Co share hare New 13 tat SUrer EUver J oaks lake Water 16 I 4 Jilt t x 41 1 I a a |