Show United Park t Reports Net for Year 63 By Robert nobert W W. Bernick Tribune Business Editor United P Park rk City City Mines Co Frida Friday rep reported net Income of for tor tb the year ear 1963 I This co compares par with will a net of for tor the year 1962 The earnings are without ded It I for tor depletion n of ot metal j mines I John M M M. Wallace president andrS and rS S. S K Droubay vl vice president and and general manager said the 1 1963 1863 3 re results ulta include only certain expenses ex ex- ex from recreational developments developments develop- develop ments merits In Utah's Utah Park City mining 1 district The operations opera at t tl the a ski area started in De December ember Shareholders were told that the company has under consideration start of exploration x at deeper levels of the lead lead zinc silver r mine Studies are being made bY by 3 your directors as to the poss poss- bill ties of Initiating investigations into the tho level deep-level horizons in sections of our mining area area s std said tho the report To Infirm Stockholders of Studies You HYou will be Informed from j time to time of these studies and j of management J resulting from them them I Tho The report noted some increases in in- I creases in prices for tor lead and zinc s zinb in 1963 I But It said If It the provisions i of of the the Trade Expansion Act of 1962 are considered together with L I the probable future market effects ef ef- I Sects of new zinc lead discoveries discoveries' t i in fn North America during the past year or two there Is s little hope t that zinc lead-zinc prices will rise i much beyond pres present nt levels There is a general feeling by toy r most moot members of the Emergency r Lead and Zinc Committee representing 90 per cent ent of the domestic domes tic producers that mu much h higher r prices would stimulate stimulate- greater greate t use of substitutes v m I j i 1 I I I I I t 1 I I I I I I a S 1 Y 1 High PJ W Would Uld S I i t Production Uon b h I 1 tj Higher prices price's s also would L- L Increased dl production i. i fr from in the newly discovered d domestic me mining districts i The l increases cr Ses in the prices es Y iSri Yo I lead and silver last y r i were somewhat satisfactory I for to II the tho large integrated zinc lead-zinc n mining i and and e of the United but St Stites tea but are w well nl I below below prices needed for the small small- sm smaller e er independent zinc lead-zinc miner of Ithe I the western states to expend deY tie tie- tiei Y lo ent work shareholders i learned I They were told that wage hikes last year erased contributions in creased prices of of metals made toI to toI I the company's revenues revenues An increase In in tonnage produced produced produced pro- pro for tor the year year made up Tor the small decrease in tn grade of ore it was WIlB reported Reserves at the end of 1963 were about the same as a year earlier in furtherance of ot com corn pany policy of finding one newton new newton ton of ore for each ton mined I The rep report rt i also reviewed pre pre- vion announcements regarding the tho present developments of the recreational area at Park City |