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Show One Of Utah's Forgotten Mines There are many mines that have sprang, up from tlfiie to time that could rightfully be called "forgotten "forgot-ten mines." These are the mines which produce pro-duce ores but don't quite make the grade when it comes to paying dividends di-vidends to stockholders or handsome hand-some returns to individual owners. Of the great number of prospects, there only a few which really become be-come great mines. An example is the Park City Consolidated Con-solidated property at Park City. Based on the amount of tonnage mined, the company from 1929 to 1939 was one of the Utah's leading producers. During this period, however, how-ever, the metal content of the ore was only sufficient to pay the normal operating expenses and the stockholder received no return on j his investment. The company produced from the Park City property over the 10-year period, ores valued at $3,7SS,255.61 of which $2,02:, 727. SG was paid to labor in wages, compensation insurance, in-surance, social security and unemployment unem-ployment taxes; $1,270,000 was spent for supplies , and equipment, insurance, power and $120,000 paid in taxes and $3S7,S42.47 paid for freight and umpires on ore sales. Here is an example where virtually virtual-ly all the money produced was spent here. Then along came a slight increase in costs and the property was forced to close down and is still closed down. Generally the mining industry of Utah spends 90 eents of every dollar's worth of ore mined here in the state. The company, however, is staging stag-ing a comeback in Missouri where it recently developed a lead property. |