| Show United Park City Mines Shows Sho s sLoss Loss in Quarter Gain in Year The momentum of highly profitable profitable pro pro- mining operations in the fore part of the year carried over into an unprofitable third quarter Result is that United Park City Mines Co showed a net profit of for the first nine months of 1967 compared to a loss of for the same time a year ago James Ivers Jr president reported Monday The figures embrace both the company's mining operations and resort activities United Park City Mines had to shut down its ore operations July a 28 bystander casualty of the nationwide copper in industry industry industry in- in strike The strike has closed all but butone butone butone one of the major Western lead and zinc smelters since mid- mid July And this eliminated a market market market mar mar- ket for United Park City Mines' Mines zinc lead-zinc ores ores its its bread-and- bread butter The s suspension us pen s ion of mining operations has resulted in a loss of d during u r i n g the third quarter compared to a loss of for the third quarter a year ago Part of the third-quarter third loss lossis lossis lossis is occasioned by limited work the company is doing to improve ore pro production d u c t ion facilities Accomplished during the mine shut-down shut it will boost operating operating operating ing efficiency when production is resumed Mr Ivers said The Anaconda Co and American Ameri Ameri- can Smelting and Refining Co have surrendered convertible notes held under loan agreements agreements agreements agree agree- ments made in 1962 and in 1964 As soon as a listing application application tion is approved by the New NewYork NewYork NewYork York Stock Exchange shares and shares of United Park City Mines Cos capital stock will be issued respectively to Anaconda and to American Smelting and Refining Refining Refining Re Re- fining he said A breakdown of operations and e expenses x pen s e s shows nine months' months profits proms of the United Park City Mining Co Cos s Mining Mining Mining Min Min- ing Division at compared compared compared com com- pared to a profit of the year before The third quarter loss is compared to a loss of for the year-ago year ter For the nine months the Resort Division show a loss of compared to a loss of 16 77 for the year-ago year period Resort Division loss for the third quarter is compared compared compared com com- pared to a loss of for forthe forthe forthe the year-ago year quarter Robert Robert H. H Woody Tribune Business Editor |
