You will receive the exact certificate pictured
Over 50 years old
Capital stock
November 13, 1957 (brown)
November 17, 1959 (blue)
Issued, canceled
Columbian Bank Note Company
Machine printed signatures
12" (w) by 8" (h)
NA
Historical Context
On Friday, May 8, 1953 the two largest mining firms in the Park City district, the Silver King Coalition Mines Company and the Park Utah Consolidated Mines Company, officially merged to establish the “United Park City Mines Company.” Former Salt Lake City Mayor and president of the Walker Bank and Trust Company, John M. Wallace, became president of the new coalition.
The Park Utah comprised a consolidation of the Park City Mining and Smelting Co. (a previous consolidation of the Judge Mining and Smelting Co., the Daly West Mining Co. and the West Ontario Mining Co.); the Daly Mining Co.; the Ontario Silver Mining Co.; and the Park Utah Mining Co.
The Silver King Coaition obtained control of the Silver King Consolidated in 1924 and the two merged in 1928. The properties of the Iowa Copper Mining Co. and Midnight Sun Mining Co. were also added in 1926 and 1928. The combined properties of both companies gave United Park City Mines Company control of an estimated 22 square miles of continuous mining ground and claims in Park City, Summit, Wasatch and Salt Lake Counties.
The 1953 unification of the companies could not have come at a more inauspicious time. The miner’s union served notice on the company that it was on strike and had been since June 27, 1952. Moreover, the mines were inoperative because of depressed lead-zinc prices. The continued “dumping” of foreign ores and metals on the U. S. market threatened the mining industry of the United States with complete stagnation. The industry contended that a 15 ½ cent price per pound was necessary for survival. Current prices were 11 cents for zinc and 14 cents for lead. Because of ore grades and wage scales, domestic mines had to mine two tons of ore to each ton of foreign ore to produce an equal amount of metal.
It would be mid-December before the 2-year old labor dispute was was settled and a new contract approved with the United Steel Workers of America Local Union No. 4264. The 600 men affected by the new pact hoped that “economic conditions would permit resumption of operations in the near future.”
Although originally a mining-oriented company, United Park City Mines Company later became engaged in the development, sale and lease of real estate located in the Park City area. The company owned the surface estate to more than 8,300 acres of land. Of this land, United Park leased to ski resort operators, including Deer Valley and Park City Mountain Resort, approximately 4,800 acres of its surface estate for skiing. However, it maintained the right to sell certain portions of the leased properties, subject to the lessees' rights of first refusal to purchase the properties.
The company owned the mineral estate to more than 13,400 acres of land principally located near or in Park City, Utah. Its total mining properties consisted of more than 10,500 acres of patented (fee title) mining claims, together with an additional 2,726 acres of fee lands and 201 acres of unpatented mining claims. The company was purchased by Capital Growth Partners, Inc. in 2003.
Related Collections
