Show United Park Closes for Strike i Will Silver Come Back Here Could it be that Park City's industry may be able to make a come came back The Treasury Departments Department's release of silver on competitive bid basis August 4 with a once-a- once week sales thereafter may bethe be bethe bethe the stimulus The Treasury had silver at troy ounce the current price on silver on the New York market if 1841 per ounce We haven't heard too much about Utah's famous silver producer producer producer pro pro- ducer Park City It is just like the old days when prospectors went into the mountains and came back with not much is being said of actual developments ments The copper strike could be hampering progress since the United Park Par k Mines Company have had to shut down until the termination of the strike since they have no place to send ore are for processing Local re refineries refineries refineries re- re fineries and processing plants are tied up in the strike and andare andare andare are refusing shipments until a settlement is reached Conjecture has it there will willbe willbe willbe be a new boom in silver it wont won't change things here the mocker will be replaced by mechanization l 1 leasers e a s so o r s swill will lose out the leasers will profit pro profit profit pro pro- fit we are unable to find any solid information We would like to see Park City back in the silver market with the result of getting our city's industry back in big business Our employment of citizens is limited by the present day mining activities by the resort activities by the local business such as grocery stores gas stations etc We need an increase in increase increase in- in crease in all areas If correct information mati on regarding future plans in the silver field is available to all then the plans for other business developments will be easier MINING NEWS 1967 The Mining and Natural Resources Resources Resources Re Re- sources Record a weekly published published published pub pub- and containing pertinent information on current events in inthe inthe inthe the Mining industry is most interesting and we are gleaning gleaning gleaning glean glean- ing items which seemed appropriate appropriate appropriate for Park City Silver prices are soaring but few Intermountain mining ex experts experts experts ex- ex are predicting a silver boom for Utah Salt Lake City reports say Utah and County recorders' recorders offices have reported no great increase in the number of new claims filed and one mining consultant said mining companies companies companies com com- have expected silver prices to rise for 10 years A spokesman for Hecla Mining Mining Mining Min Min- ing Co which owns a big portion portion portion por por- por- por tion of the s silver 11 v e r mining interests in the Coeur d' d alene alone District of North Idaho said his company has been searching search search- ing for 18 months for Cor new claims in Utah but has nas yet to register one James Ivers general manager manager manager mana mana- ger of the Un United i t e d Park City Mining Co said his company also is orienting itself toward silver in mine explorations but the whole concept of mining has as changed since the days when Park Par City's itys Imperial mine lead the nation in silver production You have to mine more than one metal at a time to make out today Ivers said I Ithe Evidence of Ivers' Ivers point is the fact that Copper Corp leads the state in silver production It produces silver as a by Arizona became the nations nation's second largest silver producing producing producing ing state in 1963 surpassing U Utah ah At the same time Arizona Arizona Arizona Ari Ari- zona was increasing its lead over Utah in copper production A spokesman for the Kenne Kenne- cott New Mines Division said the company has no i immediate m m e d i ate plans to e expand x p a n d its silver activity but m more o 0 r e attention would be placed on silver since its value is rising The federal government has encouraged expansion in silver The office of mineral exploration exploration tion offers a 75 per cent of cost subsidy to individuals or companies companies companies com com- having a ale legitimate git im ate silver mining claim Friday afternoon July 14 1967 the United States Treasury Treasury Treasury Treas Treas- ury announced that it would drop its policy of maintaining the price of an ounce a practice it has followed since 1963 Handy Harman was paying on Monday and on Tuesday The announcement on the policy said the action was re recommended recommended recommended re- re commended by the Commission on the Coinage which held its second meeting Friday The commission reported it now has hason on hand sufficient quantities of the new clad coins to insure against a shortage should all the silver content coins disappear disappear disappear dis dis- appear from circulation The word is that once the Treasury has determined they have enough of the silver stockpile stockpile stockpile stock stock- pile the department will sell up to ounces weekly by s sea sealed e a l led e d bids to bona fide users Last month Senator Peter Dominick of Colorado introduced introduced introduced an amendment requiring the Secretary of the Treasury to transfer million ounces of silver from its holdings into a defense stockpile With this amount skimmed off the top silver users would be forced to buy off the open market the Senator explained and the price price would rise He was accused of being anti June bride and the amendment was defeated y If silver production is in increased increased increased in- in creased gold will come along as a byproduct There is no indication of an increase in the price of the yellow metal Last years year's gold production in Colorado Colorado Colo Colo- rado was the lowest in the states state's history history It will be some time before many silver claims can get back into production however the increase in price is a real boon to those mines which have han been producing silver despite the low price |