Show New Park Official As Asks i s Timely j Qu Question stion I Curtailment or shutdown of or operations In the Park City district may result from a pending decision of the Wage Stabilization Board W. W H. H H. H Cranmer I president of New Park Mining Co said sald Monday I He told stockholders of the company at their annual meeting In El Gaucho Inn Highland Drive that as for I our firm New Park has set aside aside funds to meet an anticipated wage Increase Increase- New Park Decisions But he ho said that In n view of declining metal prices and the expected wag 1 lF-e lF e New Park had 1 Canceled all contract work s 2 Met with and presented an Incentive pay program to be adopt adopted d apparently in lieu of the W N S B BC deci sion sian on I As soon as we know the details details' of or orthe the boards board's wage decision we will I meet with the miners and offer oHer them I th the best deal we can Mr Cranmer said We are anticipating their cooperation It Is not our purpose to close down don without doing everything in our power to continue operations Mr Cranmer said But we must get down to basic propositions with the men In the mine Hopeless Situation f The executive said that domestic producers producers producers pro pro- of non non-ferr us metals find themselves themselves themselves them them- selves In a hopeless situation became e of the subsidization of foreign production by oy the administration r Y f Imports of zinc from Janu 1 through April of ot 1951 amounted o tons he said Imports for tiie same period this thI year hit ton tony tony- He said that all Buy America clauses In munitions stockpile bills bUls had bee been deleted by Pres Harry S Truman Because of or bureaucratic delays the tte tariff on lead small lead small as It is is is not hot expected to go Into effect for 30 days days' or more from no now he be said Show No Concern Mr Cranmer said many American mining companies with foreign Inter Interests ests were showing no concern for the plight of or domestic operators Let me remind them that Russia has 1000 line first submarines he said Where will we be for supplies of copper zinc and lead In case of war Stockholders elected Peter Joralemon Park City a director of the firm re replacing replacing re- re placing Fred E. E Wise deceased former manager of the Mining Co Ouray Colo Cob affiliate of Mining Mining Min Mth- ing Co Directors reelected were Mr Cranme I Robert L. L C Cranmer r nD r an I R. R c C. C WJ n nor of or Salt lake City Clark L. L Wilson and I Fraser Buck Park City Orvel J. J Bonnett Eon Eon- nett Provo and F. F Stillman Elfred Elred East Alton Ill Directors named Mr Joralemon superIntendent superintendent superintendent super super- of mines replacing Clark L. L Wilson Mr Wilson was named to the newly created post of or first vice president I dent and manager of operations Reelected President I- I W. W H. H H. H Cranmer Cranmer was reelected president pres pres- i I ident R. R C. C Wilson former vice president president pres pres- ident and treasurer was renamed treasurer treas tress Robert L. L Cranmer was reelected I secretary and Mr Buck secretary of the v I. board of directors I Stockholders also approved a restricted stock option plan calling for Issuance of shares of or capital stock to key I executives officers and of the firm down to the level of or shift boss The stock Issuance will be limited to 15 of the firm with purchase price set at 95 of the fair market price Clark L. L Wilson discussed prospects for fora a copper development at the company's Park City prop property Tuesdays Tuesday's T Tuesdays Tuesday's Tribune r Clark L. L Wilson named as first vice I president and manager of or operations at atthe atthe the annual meeting has been with the I company for the past 13 years serving as resident engineer chief engineer and geologist superintendent for the past 5 years He was elected a company director in 1949 Mr Joralemon named as sup superintendent superintendent erinI erin erin- succeeding Mr Wilson was first employed by the co company pany In 1950 I and has served as contract I engineer and assistant superintendent DIRECTORS ELECTED At an adjourned meeting held Jun June 4 a board of directors of the Park Konold Konold Konold Kon- Kon old Mining Co were elected The following were elected D. D T. T Konold Ogden Mrs Emma Wherritt Heber Mrs Ralph Salt Lake City W. W H. H Nelson Park City J J. J C. C Brown Ogden A. A R. R Konold Laramie Wyo The officers will be elected at a later date CONTINUES ON DOWN GRADE A spokesman for Utah mine operators operators operators opera opera- tors Wednesday said the added cut of 1 cent a pound in price of zinc merely underscores the profoundly serious nature nature nature na na- na- na ture of the drop In quotations of or both lead and zinc I Miles MUes P. P Romney manager of the Utah Mining said that It Is not up to tome tome tome me to pick out which operators will close down and which can remain open as result of wage increases and the dropping price of or metals A W Wage ge Stabilization Board decision affecting underground operations in the I area on a retroactive basis is expected I within a few days he said I I However several mining companies already have announced they can pay no wage hikes in view of the decline In metal prices They are attempting to work o out oit t some type of Incentive agreements agreements agreements agree agree- ments with their In lieu of or pending W S 'S B ruling In order to keep the be mines open I SmI SHIPMENTS TONS TONS New Park 1317 I I Park Utah Keet ey 1080 Park Utah I Sliver Silver King cons cons Total tons tons' 2897 I STOCK SALES THURSDAY I Park Park City Consolidated ed at 3 c. c N New York Exchange I Park Utah at I Silver King at t New Park at FRIDAY New Park 1000 at New York Exchange I Park Utah at Silver King at I New Park 2700 at MONDAY East Utah 1000 at New York Exchange Park ark Utah at Silver King at New Park at 2121 TUESDAY New Park at I New York Exchange Park Utah at I Continued on on Page Four Shipments Stock Sales I Continued from Page One I I New Park 1000 at WEDNESDAY I New Park at j I Park City Consolidated 1000 at oc at lY r Park Konold 1000 at I New York Exchange Silver King at i I II I I |