Show Mining inin i. i Matters l I. I HIJ L LL L. L L L L AA I u T- T TT The Tho following Items item were taken from Fridays Friday's Salt Lake Tribune i I EAST AST UTAH'S UTA II'S DRILLING mOWS LITTLE ITTLE CHANGE AT nET FEET 1 East Utah officials reported Thursday that hat their tunnel operation now Is In feet with little change yet In character of the earth Nothing of particular particular par- par Interest is expected short of feet I The crosscut being made from the main nain tunnel to explore property of the newly formed General Connor Mining Co sponsored by and New Park Interests has progressed feet Park lurk Utah Park Utah continues to carry carryon on a a heavy campaign of exploration P P. P H H. H Hunt lunt general manager said saleT Thursday Work Is U principally In ht the Judge property property prop prop- I erty Park City district Some of ot the longer drives have shown a little lead zinc Zino and pyrite while short drives have come Into some ore but nothing of large size size he said Production currently is about to tons monthly with lead dominating comprising com com- 45 per cent of output plus substantial substantial sub- sub amounts of silver and zinc i I IA New Park ParkA A show of gas has been encountered at t the ft level at New Park Mining company's oil well at Sulphur Springs 18 8 miles east of Evanston Wyo officials said aid Thursday Objective of the firm firms Is s the Dakota sand at feet The company has two small producers in theares the area ares I AUK ARK CONSOLIDATED OTES VOTES DIVIDEND UI Park City Consolidated Mines Co Thursday declared a dividend payable August 26 28 to stockholders of record August 14 14 It was the second dividend declared by jy the company The first also was a 20 dividend paid February 14 14 1948 i iThe The stock sold 2000 shares Thursday on the Salt Lake Stock exchange closing closIng clos- clos Ing ng steady at OUR PAPER MONEY 1 NEEDS GREATER GOLD COVERAGE CO We Wo are told by alleged monetary experts down In Washington that a return return re- re turn urn to the gold standard or an increase In Increase Increase In- In crease In the price of gold to enable I the he mines to operate with present high wage and equipment costs costa would speed speed speedup I up Inflation and bring depression To our way of thinking a return to the theold gold old standard would stop the presses presse that are now turning out depreciated currency and speeding Inflation in the nation Our suggestion to the new deal cabal down in Washington is that the gold backing behind our paper money be returned at least to the 40 gold cov- cov that prevailed before the war period The gold coverage was reduced to o 25 cents in gold behind each pape dollar of our currency except of course the he silver certificates that are backed backed by in the white metal The 25 I gold old backing authorizes a 75 inflation inflation tion in our currency and this of course is reflected in n the prices of foods and merchandise The price of stocks measured meas mess aced in our present cheaper money moneys should be at an advance of say 60 80 above the prices of these stocks as measured In our former 40 gold paper paper paper pa pa- per dollar When we measure and compare the prices of food merchandise merchandise dise and stocks with former days we should consider the real value of the measuring rule In each period says the I I Mining Record I IThe The return of honest money backed by the gold standard is the prime requirement re requirement re- re of or the United States and the world The United States has a right to brag about the immense gold reserve a a's as Ft Knox A part of that gold should be used to wipe out that injury that was done when the gold backing was reduced from rom 40 to 25 In the theold theold theold old prosperous days the 20 greenback certificate could be taken to the bank and a 20 gold piece secured for the same some There Thero was no talk of Inflation in those happy days The political party that tops stops the Jiggling with the peoples people's money will earn the gratitude of all parties Put honest backing behind the paper money of the nation and the world and happy days will be here again and fear of inflation will wUl end It was about years ago that France Franco tried to shy away from the folly fony of the when it re remembered remembered remembered re- re the folly of John Law comments comments comments com com- ments a reader At this time he says the National Assembly contained In its TT membership the Ablest Frenchmen of or orthe the day Necker Talleyrand ana and others Regardless of their obJections objections objections to the popular demand to dilute the currency c they gave up when Mirabeau Mirabeau Mira- Mira beau turned renegade de deserted them pouring out his oratory in 11 the cause of ot the people and their ruin We see the exact pattern reproduced today an enormous debt unbalanced budget a war budget in peace resistance resistance resistance tance to proportionate debt reduction opening the floodgates of easy money passing the buck and the popular aversion aversion aversion aver aver- sion to the discipline of an Intellectual effort Reams are printed about high prices which is also the danger sign of currency currency currency cur cur- rency depreciation Thinking men and women still stand in amazement that gold goat was abandoned and the subsequent de of the gold dollar In peace all of which was popularly received VI wits With a shrug of the shoulders and complete complete com com- indifference by the rank and file STOCK SALES THURSDAY Park City Consolidated 1500 at 2000 at New York Exchange Park Utah at Silver King Coalition at FRIDAY East Utah at Park City Consolidated 1500 1600 at New York Exchange Park Utah at 2024 Silver Sliver King Coalition SOO at MONDAY East Utah at New Park at at New York Exchange Pork Utah at jeer vcr King Coalition at V P TUESDAY Bullion 2000 at 6 Vic c. c Rexall Columbus-Rexall at Crescent Eagle at SOO at 38 x r 38 the May at hlO C to Copper at Royston Coalition at Silver Standard at 3 c. c Clayton Silver 80 at at Combined Metals at m at at at at M 1500 at at 1500 at Uc at at 2000 at at East Standard 1000 at 3 c at East Utah at 1700 at Eureka Lily 1000 at Horn Silver Stiver at at Leonora 1000 at 5 c. c Little May 2000 at Miners Gold 1000 at Mountain States State Development at at 25 c 2000 at at at at I North Lily at Ohio Copper at Royston yston ston Coalition at Oc Cc at 6 i lc c at 2 tic Lead 1000 at 24 c at at Standard at Wyoming Utah-Wyoming Oil 1000 at Indian Queen 1000 at Magnolia Lead 2000 at Park Bingham at 2000 at WEDNESDAY East Utah at loc Park City Consolidated at New York Exchange Park Utah at Silver King Coalition at f Ill New Park Silver King Coalition cons Park Utah Keetley Park Utah Consolidated I Total |