Show n I Mining Matters J PRESIDENT W. W II JI H. H I mJ REPORTS TO STOCKHOLDERS AND XU U J LES I IXU j World Outlook The Outlook The profitable production pro pro- of the minerals of our mine I consisting of gold silver lead zinc I copper and cadmium will depend more i upon the course of ot world affairs and the ability of our Government to solve suCcessfully successfully successfully suc suc- the numerous social economic I and political problems than upon the I factors considered near-at-hand near usually as paramount I Turning to foreign affairs we find the United States attempting the restoration of prewar stability and prosperity to i Western Europe Japan and to all the Irest i irest rest of the world except Russia and her Satellites The reaction of our people to the Russian challenge will determine the I outcome If we select leaders with vision I strength of character and ability In the I I I coming election we wo will overcome present present pres pres- ent threats to the security liberty and I prosperity of the world The destructive effects of or the great war will be overcome in a a. very few years i History will show It was fortunate that the challenge of ot Russia awakened the United States and called forth the great efforts needed to usher In a new and prosperity for the era of progress I whole world Roman Civilization made great progress until Carthage was de destroyed ne- ne When Internal strife and disintegration disintegration set In competition is needed to bring out the best efforts of nations as well as individuals Remember Pearl Harbor and our response to it Free Market The Market The last year has brought a transition from Government subsidy and regulation to a free economy economy econ econ- omy orny with prices and wages free A large part of our production is In gold and silver and during the war we suffered more from Government regulation than other mines producing only zinc lead and copper topper Our gold and silver were virtually confiscated and those values were donated to metal consumers by the Government We are aro fortunate that normal conditions are returning Future Futuro of New Park Park Having Having taken our OUI place as the largest producer of metals in the Park City District we Intend to retain that position by purchasing purchasing pur put chasing a new and heavier hoist holst opening of new levels expanding operations pressing development and the use of geophysics to aid our geologists In finding findIng find- find Ing lag new or ore bodies i I Controlling a ni we do the greater part 01 of the southeastern half of tue Park rack i City District we wo may expect to find In la lathat that area production comparable in 1 i value to the over which has hasi been already produced from the northwestern northwestern north north- western half of this district The mineral indications and fissuring in our part of the district compare most favorably with that of the more developed area where several hundreds of miles of workings have been driven to explore and extract the ore New Parks Park's Interest In OU Oil Incorporated ed has been explained in the Prospectus that has bon been sent to all of New Parks Park's stockholders and they have been given an opportunity to Invest in the stock of this new company controlled by the New Park The oil oU Industry enjoys ad advantages advantages ad ad- vantages In prices stability labor and andI I taxation that make it most favorable for venture capital A diversification of Income in income income In- In come source would be most advantageous advantage advantage- ous to New Park should our efforts Inthe Inthe in inthe the oil Industry be successful The trend is shown by other mining companies Investing in investing investing In- In vesting in oil among which are United States Smelting and Ken- Ken My best wishes and thanks go to those who so generously rook Cook the time and trouble to answer our questionnaire I I trust the result will give you al all a better and more complete picture or of I Ithe the company's operations and its prospects prospects prospects pros pros- for the future There exists good reason for you to be proud of the progress progress progress pro pro- gress of ot New Park I I NET INCOME IE DROPS I The Park Utah Consolidated Mines Co Wednesday reported net Income for forthe forthe forthe the quarter of 1948 at 14 compared with for the similar period in 11 1947 Company officials have stated development development development develop develop- ment operations are proceeding as scheduled scheduled scheduled sched sched- in the Park City mines and that it appears there Is a favorable amount of ore available for future extraction ASSESSMENT o II m POSE DONE According to the present law a minimum of worth of labor must be bo performed on each of ot the thousands 01 mining claims within the U. U S. S by noon of July 1 I 1948 In order to retain ownership of the property Considerable discussion as to the necessity of annual labor has resulted from tho introduction of S S. 2478 by Senator Watkins of Utah and the companion companion com corn panion measure HB JIB by REpresent Representative Representative sent Stockman of Oregon These bills b would equalize the requirements between the U. U S. S proper and Alaska by suspending until July 1 I 1948 19 all assessment work on mining claims in 11 inthe inthe the U. U S. S as well as Alaska provided n LI notice of ot Intention to hold IS III filed A survey of the sentiment concerning concern concern- in ing the proposed bills made In Washington Wash Wash- ington says that western congressmen have received a very limited demand demond for tho suspension and an almost equal I demand that the requirements for an annual annual an- an nual labor be enforced The latter de demand demand demand de- de mand hat had come principally from frohn claim I an owners who have already performed their thell assessment work in good faith and believe that It Is for the good of the Industry that the present law be bo maintained Many say that should any suspension of assessment work be bel I granted It U will be limited to disabled veterans and members of the armed forces NEW EW DEALERS ARE ANTAGONISTIC TO lO MINING l I Tho mci Old Guard of new dealers are I still cull carrying on oci under the banner of President Truman one of the original I I Roosevelt cabal They closed the gold mines so that they could juggle the paper money of the United States They are still carrying tarrying on at the same old stand and are fighting hard to perpetu- perpetu I ate ale themselves in office I 1 I The United States is being drained of its wealth by the crackpot schemes of Continued on Page Four Mining l Matters l I Continued from Cage toge one the new dealers now clouding national Issues Issued with a smoke-screen smoke of ot Washington Washing Washing- ton propaganda Truman vetoed the premius bonus plan that would have ha treated the metal mining Industry In the same manner now In effect for the farmer But Dut minera min min- miners ers era erst and particularly gold miners have been treated In a grossly unfair manner manner man man- ner by the new dealers denIers and It Is hard bard to Imagine Truman and those other new dealers getting many western votes In the tall fall election Denver election Denver Mining Record m J i SHIPMENTS New Park o o Pal Park Paik k Utah Park Utah Keetle Keetley y Silver King cons Total I STOCK SILES S. THURSDAY Y New Park at e LJ Silver King Western at New York Exchange Park Utah at Silver Sliver King Coalition at FRIDAY East Utah at Park Perk City Consolidated 1000 at Silver King Western at NI at New Park at New York Exchange Park Utah at Silver King Coalition at SATURDAY AND MONDAY Exchange closed TUESDAY Bullion 1000 at 9 c 1000 at Oc Dc at 9 c Of at I n t rd sc 4 c. East Utah oo at Mc Lakeside Mon at t Little May 20 at New Majestic 1000 at 4 c 1000 at 4 x c New Park at I North Lily 50 at at Ohio Copper at I Silver Standard at lit 2 21 at 2 c 2 Tintic Lead 1000 at Union Chief 1000 at Utah Wyoming Oil at at lit Crescent Eagle at 20 Eureka Standard at Utah Kentucky-Utah 1000 at Miller Hill at West Toledo 1000 at WEDNESDAY 0 East Utah at at I Park City Consolidated I at Keystone at New Park at New York Exchange Park Utah at 2871 a. Silver King Coalition at at t |