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Show Page 2 Published weekly in Salt Lake City, Utah by Utah Scene Publishing Co., 4386 W. 3780 South, Granger, Utah 84120. Mailing address: P.O. Box 19243, Salt Lake City, Utah 84119. Serving the mining and oil industries of the Rocky Mountain Region. Articles and information contained herein are true and factual to the best knowledge of the publisher. Information and opinions published are the sole responsibility of the publisher and do not reflect the attitudes or opinions of the merchants, brokers, corporations and service firms who advertise herein or otherwise sponsor this publication. 25 Cents a copy Subscriptions $10 per year Phone: ' Rulison (Continued from Page He $2 col. inch .$2 for 20 words or 298-240- 3 298-370- 3 " Chuck Hayward Enid J. Hayward Editor & Publisher.......'....: Assistant to Publisher'. Director of Advertising. Hal Funk obtained 1) a stipulation from attorneys that no flaring will be attempted until at least six months after the blast. This would mean next March 4 would be the earliest possible date. The judge held that the nuclear test 8,442 feet below surface Advertising rates: Display Advertising Classified Advertising will be a commercial project. Austral Oil Co., N-te- st ' Houston, Tex., and CER Rulison is part of that program, he noted, and its culmination is permissible under the separation of powers doctrine. He said he was impressed by the extreme caution, exercised the AEC and cooperating government agencies to insure safety. He added not a single witness testified there was any Geonuclear Corp., of Las Vegas, Nev., which are involved in the project, said during the hearing the Atomic Energy Commission had complete authority over the blast itself. Judge Arraji noted that Congress authorized the AECs Plowshare Program for reasonable likelihood that fissionable material will not be developing peaceful uses of the atom and that it also has presidential approval. Project contained underground. Alaskan oil field spy (Continued from Page 1) practices will continue right up to the day of the sale. Oil companies are not about to give out what theyve learned about the slope through the expenditure of millions of dollars. After the September sale, notes Commissioner Kelly, the lid will disappear. result of the state land sales. J. Ronald Woods, research partner with Kippen and Co., . Inc., predicts that the land sales to oil Montreal investment companies and investment A speculators will reap more than $1 billion. researcher says Alaska will be taxless for the next 15 years as a Cascade Energy EDITORIAL Tax reformists who have their minds made up and their (Continued from Page 1) ears closed to any defense of the 21Vi per cent mineral Matejcek of Art Centrum, a depletion allowance are playing upon natural divisions corporation of the Czech public. within the oil industry to divide and conquer U.S. In preliminary negotiations it a have to now who mounted was agreed that corporations up petroleum producers unified opposition to the abolishment of import quotas would be formed in Canada and and the slashing of depletion allowances. the U.S. giving Art Centrum a non-manageme- Spearheading the attack which aims to create a schism in the ranks of oilmen is Sen. William Proxmire of Wisconsin, who is offering independent producers what appears to be a juicy plum: support of the Senate tax reform bloc in the fight to keep existing tax advantages for most of the countrys 10,000 to 12,000 independent producers if they in turn support a more stringent tax structure for the 1 50 or so major producers. Proxmire recognizes friction between the small wildcatter and the international giant with worldwide production, refining and distributing operations, and seeks to exploit it. This is the Proxmire deal for small oilmen as documented by Rowland Evans and Robert Novak, nationally-syndicate- d columnists: long-tim- e Proxmires three-levplan is more stringent than either d bill: President Nixons proposals or the el House-approve- income under one million dollars comprising almost all independents, would keep the full 27.5 per cent; (2) Those with one million to four million dollars production would drop to 21 per cent; (3) Those giants over four million dollars would descend to 15 per cent. (1) Producers with annual oil-g- as Evans and Novak claim the Proxmire appeal gains strength in view of the Administrations position which favors the retention of all or most of the depletion allowance but elimination of another tax advantage. Unlike other businesses, oil drillers can immediately deduct from taxable income such capital drilling costs as salaries, equipment rentals and fuel as intangible expenses instead of writing them off over several years. The Administration would drastically curtail this advantage. Intangible drilling deductions are vital to the small independent, and a recent announcement by Under Secretary Charles Walker that the Treasury would seek reversal ot the House bills full protection of intangible deductions and reduction of the depletion allowance struck fear into the hearts of independents. Its September 2, 1969 OIL & MINING JOURNAL a dilemna for the small producer, but selling out to the Proxmire group could only serve to postpone further erosion of the tax position of the independents. Up to now it has been the major producer who has borne the costs of staving off previous attacks against the industrys tax advantages-an- d rightly so. It should be obvious to the small producer that a split within the industry at this time would leave them completely unprotected in the future. non-voti- ng nt, interest. The corporations would handle the distribution of the art products in the respective countries. In July Cascade formed a corporation in Canada called Art Centrum Productions, Inc. with Earl Morrison as BONNEVILLE SECURITIES, Inc. Canadian television, said Smoot. He said Daitz is 601 KEARNS BLOC. 3224515 far Nawait Trading Inlarmatian an Call currently setting up distribution patterns and arranging for marketing outlets for the films. This marketing line further M.I.C. the Haladiiie complements INTERNATIONAL microfilm program Cascade has been working on with Ilford Inc. of London, Smoot said. He said Cascade has been invited to participate with Czechoslovakia in the international film festival to be held in New York in October. executive director. A second Delaware corporation is to be ft formed called Art Centrum Inc. Art Centrum will receive 15 per cent of the net profits of the corporations and will retain the right to purchase up to 49 per cent of the corporations over a period of two years. We feel there is a strong market potential for the animated cartoons, documentaries and PINEC0 and Other Stocks and Mutual Funds Over-the-coun- ter HAS YOUR I TRANSFER. COMPANY BEEN PUTTING YOU OFF I STATE TRANSFER AGENCY, INC. I Telephone (801) I 322-557- 9 SALT LAKE CITY. UTAH 84111 This announcement is neither an offer to sell nor a solicitation of an offer to of these securities. The offering is made only by the Offering NEW ISSUE FOR UTAH RESIDENTS ONLY Circular. I I features in American and buy any I We Treat Each ACCOUNT Like Its Our Only ACCOUNT 321 Boston Building full-leng- th SILVER MINING 5,000,000 SHARES COM TEL, INC A Utah Corporation COMMON STOCK Com Tel, Inc., is devoted primarily to the development, manufacture and sale of computer components and other electronic equipment, and exclusive manufacturing and distributing of new products in the electronic field. 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