Show D Droubay y Sees Good Bad in iQ Union United P Park rk Mines Report Losses Closing smelters by lengthy strikes Is II just as aa effective affective as putting put put- ut ting hug domestic tine lead mines out of business as encouraging Import I of low cost foreign metals metal says flaYS S. S K y vice president and general manager of United Park ity Mines s Co I The Tho International t ii of i Ml Min no Mill null ami ud Sn Smelter Workers set a strike for Wednesday at the Tooele smelter smeller Smelting Smelling Refining Co Is U an on affiliate of Anaconda Co which buys bus the ore produced In the tho Park Pork City lead district t by United Park City Mints Minos Co Paradox Thinking Mr fr l Droubay said it was st strange ango that a union group would on one hand nil try Ir to aid lo-aid aid alii in tho the fight fight to save the the tho domestic lIc zinc lead zinc lead try from front complete collapse and ando andon andon o on the other hand deliver a ablow ablow I blow on tho the local beat scene that could coull spell our death kno knoll knell I. I I Unit United d Park City has hall taken substantial annual losses lOsos In order to protect our organization of ot employee our oro pa and our r miu mine workings Mr Ir Droubay said This has' has been done dono because we e e can sustain losses from year to year yar without going completely b bankrupt lint Hut on a shutdown basis whIch could be Le occa occasioned by I lack of ot market resulting from closure of the Tooele smelter wo 0 o could survive little lItlie over a year t r we MO abandoned the I mine at Park lark City I Closing smelters by means of I strikes could well be Just as ef- ef etl I I f ft fifth th o 0 In putting us out of Ot business busi I nest ness as the flow of foreign Imports Im ha- ports at low metal prices Mr Droubay said Thursday Weather the Storm at the few remain remain- tug Lag lead zinc lead mining op operations have agreed to share shard the hardships hardships hard hard- ships of ot the situation with the mining companies in an effort to weather the storm TIley realize you yoU yoUcan c can cannot a n n not o I squeeze blood out o of a turnip Tooele zinc lead-zinc smelter I I 1 Ik little if any better bettor of off than tHo mines and any increase in hi In wages I has to be passed passer on to someone Companies will not use ni money ne from copper operations to sustain losses at zinc lead smelters the declared i I rr ald smelter workers might aught give serious consideration whether er they ought not lot g go along niong with the rest of ot the zinc lead l In III till thi this i of depression or whether they sho hl kilT tb goo goose goore e that lays the tho eggs egg and destroy th the f own jot JoKs permanently I United Park Park City Mines Mines' Co Park City district 10 lead sine producer Saturday reported net loss of f before depletion for the first six m months of 1959 1958 S. S K Droubay vice president and general manager said loss lose for the tho same earne period of 1958 tot totaled total total- r- r ed etl The company company- toad anet a anet net t for tho the first three months month of this year OrosA Gro la lp Income i olDe from ore sales in first half of year this o IW ad j against for tho the Initial six months of 1958 Mr Ir Droubay said Expenses In reas Operating expense from in first half of last year to for the first six months of 1959 1059 Total expenses however were for the 1959 1950 teim ver- ver ens 7 a year ago Ne Net working capital of United Park lark City Mines Co decreased to on Juno June 30 This compares com corn pares with a working capital position ton tion of of on June 30 1958 Mr Droubay said that lead load and ami zinc continue to be In a state of ot world over supply Low cost foreign for for- eign production Is keeping ke prices price depressed to such levels that It Is la laI I uneconomical for most domestic producers to operate at a profit i Import quotas Imposed three- three I quarters of a year ago o for the tho purpose of ot protecting part lIart of the tho American market for domestic producers have failed In the purpose pur- pur pose pOliO P for tor which they were vere Intend Intend- I II ed Need of Industry I Only a II strengthening of of the quota or the tho establishment establish establish- I meat ment of f increased tariffs or Import Im ira I port taxes will viii afford equitable I I prices for the domestic producer prod the mining man said sold The President o of the United States the secretary of interior both Loth the Senate Senale and anti House of ot and anti the tho US U.S. Tariff Tar Tar- iff itt mission Corn have haro all publicly recognized the Importance and the tue need of protecting the domestic dom dorn- oath estic zinc load mining mining industry Mr Droubay said II S Yet Vet nothing has hag been coI ac so accomplished because of differing I opinions opinions' ou on solution of 01 the tho lem lem 1 Maintenance of vast mine mineI I workings and the need flood to manI maintain main man I tam tain o ore e reserves make make- it advisable advis advia- able to to operate overate at a modest loss loas Shutdown louses losses would b be bEl mush muth greater unless a large of ot I the mine workings were were perman 1 abandoned I Tho mine is b In good od and ard the tho ore progress development ii if encouraging especially In light lightf o of f tho the United amount of f e pl ta I work that Is fed carried on Mr h said of the firms firm's Park P City district operation I We e trust truest lt that that Improved Improved metal prices wm be forthcoming before many more months have pass passed Lh he le said in In the Interim report |