Show Jo oU I. I 1 Mining M Matters For Week i TT- TT T MUST WILL SEC SIK GREAT T A new and great mining epoch Is under way Soon the remotest of camps if f they produce any of the strategic minerals will feel the Impetus Already capital which with fingers too often burned has been unresponsive to opportunities opportunities opportunities for Investing in the production of ores Is again looking our way and to the big chance tho the war is providing in n the way of increased demands I The Tho needs of or the he war industries are desperate and with tho he passing weeks tho the demand for raw metals Is more In In In- The Tho government is rapidly getting getting get get- ting in a II frame of mind to meet almost any requirement that will encourage new developments and Increase output in old workings 1 New processes havo have been developed I and costs of reduction and separation cut to a point where hero hundreds of mines It was impossible to operate a a. few years ago can now be reopened as the government is providing money for del development de de- where anything like good l showings are made The coming year will see seo the greatest mining activity it IsI is expected that the west has boa experienced I Ouray Colorado Herald A QUOTAS ll TAS CUT Toil I 11 TIIE NETS NETS' I The quota committee of the war I production board has granted the application application application ap ap- of New Park Mining company for a reduction in monthly metal quotas W W. II It H II Cranmer president of the company company company com com- pany announced Saturday The company's lead quota has bos been reduced by a substantial amount Mr Cranmer said and its zinc quota has been reduced to zero The Tho company already already already al- al ready had a zero quota ou on copper t J Granting of the application carries the I proviso that all Income to be derived from the reduction in quotas shall be bej i j applied to development work I The company has been receiving about monthly in premiums on metals I I produced I in excess of quota Mr Cranmer Cranmer Cran Cran- mer said and he predicted that the he reI reduction re- re i In quotas will add an another ther to monthly to the company's InI in- in come I I KINO IUSO COALITION CO I III I lii I I After deducting an estimated I I to comply with a directive order of the i i I I war labor board increasing wages 1 per j day retroactive to July 1 1042 1942 the Silver I King Coalition Mines company for the quarter ended September 30 1942 1042 made madea a net profit of before depletion I tion and before federal income taxes of Net profit after all taxes and and depreciation but before depletion 67 67 07 was equal to 58 56 cents per share on 1220 shares of or 5 par value common outstanding Net profit for the year ended September Septem Septem- I ber 30 1042 1942 was or cents per outstanding share LOCAL MINING 1 STOCKS I THURSDAY Y The Tho Record week starts out with little better showing for one of the local stocks New Park passes pal the mark mark GOO selling 3 33 up 33 up Va 2 cent Keystone Keystone loo lOC lOo I 1 I I Park City Consolidated Consolidated a Only five stocks stocka were traded traded local local I I stocks selling three of the five j r j I Y 1 r I fill 41 FRIDAY Four Issues only changed hands on stock exchange today with one local beIng being be be- ing the star performer New Park slipped back ya Va cent cent tour four lots aggregating 2500 shares selling at Closing at bid asked SATURDAY Eight Issues were traded today on Exchange with one local Park City Consolidated Consolidated 1000 1000 Q 40 New Park holding up bid 34 asked asked no no sales On tho the curb New Park took an upward upward upward up up- ward Jump of 1 IV Va cents cent cents selling for its 34 Its high mark for tho ho second time during the year MONDAY Seven Se issues traded on Salt Lake Lako Exchange Exchange Ex Ex- change today Including two locals New Park slipped back 1 jO I 20 selling at 33 cents cents dosing closing bid asked Silver Sliver King Coalition Coalition lOO ej 25 closing bid 2153 asked The demand for New Park seems tobe to tobo tobo bo be increasing increasing shares sold for on tho curb today today shares share I was the total for the day TUESDAY I Business forged ahead on Salt Lake Exchange today today ten ten issues being trad trad- I I I I ed cd including three locals two locals two of of which I slipped downward and one advanced in price Silver King Coalition Coalition Q p off 5 closing cents cents closing at of bid asked New Park Park 1000 1000 33 1000 up 1 cent Closing at bid 34 0 asked Park City Consolidated Consolidated 3 c. c On the curb New curb New Park Park 33 33 H Va and Park City Consolidated 1500 Consolidated 1500 WEDNESDAY Volume of business on Salt Lake Exchange Exchange Exchange Ex Ex- change today flattened materially from the volume of Tuesday On the curb New Park came into view selling for 34 cents the cents the only local issue for the tho day slit SHIPMENTS New Park Silver Sliver Kin KinQ Coalition cons Park Utah Consolidated Total Total FOIL I Oil OIt OUR 1 METAL T L MINES MIMS I Tho following is from the editorial column of the Salt Lake Evening Telegram Telegram Tele- Tele gram of at Wednesday The metal mining men of or the west know now Just what is expected of them and Just how much cooperation they can expect from government in performing their Important war the Job of turnIng turnIng turning turn- turn Ing out In iii quantity the metals which are essential to victory There is no doubt that the mining men and arid government officials understand each other better as a result of the tho thoI I two-day two metal mine war conference Just concluded in Salt Lake City For one thing there is full tull realization by officials officials om- om of or the Importance of solving the mines' mines man power problem If Ir maximum production Is to be achieved and achieved and the mines have the promise of or full cooperation tion from government In solving that problem I On the other hand the mining lead- lead Continued on Page Four t tt L Mining Matters 1 Continued from Page One era were Impressed anew with the vital I Importance of ot Increased production They know that they have done a good Job so 80 far lor but that In the future they must do still sites better The war program calls for for- foran an increase during 1843 1943 of approxImately approximately approximately 25 per cent In the output of the strategic metals I I It Isn't going to be easy to achieve I that goal goal but but It Is certain that the I I i metal mines both management and labor la labor la- la bor will do their utmost to reach It They will unquestionably as Donald I Nelson asked in hIS hid telegram to the conference give the best t they've got ot |