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Show Page Two Editorial Mr The Western Minenl Surrey, Sell Uke City. UUh ... WESTERN MINERAL READY TO DRILL SURVEY Newi 421 Church This Temperamental Market Subscription ratea: $5.00 for two yearn; for one year. $3.00 A quiet period set in last December when the winter weather was hitting its stride. Today with temperatures hovering around GO degrees the same apathy prevails. The identical group of bargain snatchers who were active last December have recently appeared in the July market as buyers of stocks. Please mention Western Mineral Survey when wrltinr to advertisers. Adver-tiiirates on application. nr HARRY B. MILLER. Publisher GAIL FELTCH Editor O. D. QUINLAN feature Editor FRANCES JENKINS Adv. Manager L. M. HILL Contributinr Editor A recent telephone survey conducted by a prominent brokerage house disclosed that only one person out of 15 who now owns stock outright has anything for sale at the present writing. This makes for a very tight situation. Fenny stocks are now sold in 1000 share lots while the stock quoted from 20 cents to $1 a share are bought in amounts ranging from 200 shares up to 500 shares. 'Gay' News for Little Firms One of the most promising programs for the uranium industry and one of the most stimulating that has been brought to light in many moons is the program by Leo C. Maley, of Dove Creek, now in the process of organizing the Janet Gay Uranium Co., named in honor of his only daughter. The Janet Gay, right at the start will be blessed with $1,500,-00- 0 front money. Most fascinating of all, however, is that it will be developed as a home for all small uranium companies in need of a shelter from the storm. so-call- ed The Janet Gay, in some instances will arrange the facilities for needed mergers. In other instances, it will merely help the struggling midget uranium units to solid footings. The ultimate objective will be to further the respectability of the uranium business. Circulation Street Phone Salt Lake City. Utah ir. Denver goes through temperamental seasons of buying and selling. The Maley Story . Advertisinc Entered as second claaa matter at Salt Lake City, Utah, under Act of March 3, It appears the local uranium market in Salt Lake City and Brokers say these statistics definitely indicate the market decline is subsiding and that an improvement in quality and volume of purchasing may be looked for as the summer advances into Fall. Optimism is the keynote, based on the result of the survey. 8. 1S3S DENVER BUREAU - News Advertising Circulation Kitteredre Bldr. Denver, Colo. NORMAN LEVIN E Bureau Chief For the news of most significance in the mlninr and oil world. 722 All news appearing in the Western Mineral Survey is obtained from sources believed to be reliable but no responsibility is assumed for accuracy of Drill rig is readied foi operation on Cal Uranium Corp. Claimi in the White Canyon area. UAL officials report uaniun eie if new being stockpiled on these claims. Reproduction of any material from this publication must have written permission from the publisher. Marys vale Is 'Best9 Rocky Mountain Bids Salt Lake Man Support For Colorado Land Gains For S E C Post D. J. Hanks, president of Rocky Mountain Mining and Development Co. said today, his company is negotiating for addi tional uranium properties on the Colorado Plateau and in the Fluorespar Topaz region, northwest of Delta. He expressed the opinion that surface mining in the Morrison formation may be expected in the next 60 days on the Plateau. Hanks said his company also mining project 1600 feet from has 10 claims six miles north Rocky Mountain's tunnel opera of Marysvale, Utah, only 3000 tion. has recently been reacti feet away from property of Va- vated following acquisition by a nadium Corp. of America, one of new company. the biggest uranium producers in Hanks said Rocky Mountain the nation. He also said the Potts Ground has drilled to a point 800 feet into the side of the mountain near Marysvale and to 320 feet of vertical depth. He expects that drilling from the .surface down will achieve the purpose of providing needed ventilation for the tunnel, and con necting the mineralizaton between the surface and the tunnel Joint Venture two-fol- d Signed by Alco, Plateau When the Janet Gay hits the board, the Maley group expect to support the stock at $5 a share. At this moment, Maley holds some of the stock for which he paid $5 a share. His sole aspiration is to create a respectable company that is going to be an Alco Uranium Corp. and Pla-eaof the all to A uranium noble struggling inspiration companies. Mining Corp., have a joint venture contract for production objective. from the Black Bottom mine in The Janet Gay will be composed of 11 departments and East Canyon. Alco has a separate program, Maley plans to have 11 persons, each of whom has been a sucto cess in a particular enterprise serving as departmental leaders. acquire 50 mining claims in East South Canyon a.d Actually the mighty eleven are going to serve as his Board of CircleCanyon, Cliffs. These facts were Directors. disclosed today by spokesmen for the two companies. Maley told this writer personally, he believes the investing George B. Anderson, is prespublic should be encouraged, not discouraged. He said he hopes ident of Alco. Ben Browning is to dispel the impression that everybody is going to be gyped secretary. Alco was organized in the small uranium companies and his hope is to inspire confi- June 14, 1954. Alco has had a caterpillar dence in investors that they are going to obtain a better gamble a bull dozer and several in uranium, one that will take their attention away from the tractor, men, doing exploration work on temptations that lurk in Las Vegas. company claims in Coyote Wash on the east side of the Lisbon "We are trying to set the frame work of the Janet Gay, to Fault. Alco has also contracted for apply the best we are able to offer in uranium effort and if, in can of service we be to the achieving that, industry, we will feel drilling of some properties surthe H and M mine, a perfectly satisfied," was Maley's closing comment on die pro- rounding consistent Alco producer, which posal. recently discontinued operations In January 1955 the Argosy Magazine published a brief item until August 1 when a core drillwhich described Maley as an individual who "took a $100 bill ing exploration program now under way is scheduled to be comand in 15 days built it up to $200,000. pleted. The lull in the operation of As a result of that brief item, said he actually received a the H and SI mine provides total of 300 telegrams from readers all over the nation, each of Alco an opportunity to coserve whom desired to send him $100 to establish them in the uranium the remaining cash in the treasbusiness, each hopeful Maley's original achievement might be ury until a new program of expansion and financing is comduplicated in their individual lives. u pleted. The contemplated program What a guy this Leo Maley is. All his friends predict, he should be completed by August 1. will provide for the languishing uranium industry the shot in will then be, released to the It the arm it so badly needs. stockholders. level. He said the vein of ore is 32 inches wide and indicative of better grade uranium ore. Hanks said his company has 75 assays on ore of lower grade, which could be blended with higher grade ore. Hanks said Marvsvale is nno of the best uranium producing areas in the United States, point ing out Vanadium Corp. of America drilled to a depth of 1000 feet to encounter very rich ore. He estimated Vanadium Corp. paid in excess of $1,000,000 for the "Freedom Mine" and one other claim to the original locators. Hanks said Rocky Mountain Mining and Development Co. owns three claims that produce alunite, gradually being Intro-duceand used as a plant food. He said 150,000 pounds of alu-nitis blocked out on the Marys- d By U. R. Scout Alexander Walker, Salt Lake City representative of the Securities and Exchange Commission for the past several months, is being widely supported in Salt Lake City for appointment as regional director of the SEC office in Denver. A vacancy in the regional directorship has arisen due to the resignation of William L. Conn, who recently stepped down due to ill health after many years of service. Walker is said to thoroughly understand the problems of the mining industry, particularly the uranium industry, one of the big factors in Utah's economic breadbasket at this particular time. Walker, who is 35 years old, came to Salt Lake City from an eastern post. Executives of several mining organizations are submitting recommendations to Washington fav oring his promotion to the regional directorate. Rumell Pattern Shop Wood and Metal Patens Patterns Built as per Blue Print Samples or Sketch Model Making Industrial Mill Work "We Guarantee Our Work for Accuracy and Satisfaction" 455 West 7tk Sontk Phone 24 e vale property, with other ores in prospect, including uranium. The company has received delivery of a combination compressor, loader and bulldozer, all in one unit, which is now working satisfactorily. Hanks said Rocky Mountain claims are in one of the most promising locations in Utah and in a primary structure for uranium) ores. The comnanv in Juno nMAM, an issue of 400,000 shares of stock ai la cents a share. It is still in the offering stage. DEMON AND NICHOLS Assay and Chemist 160 South West Temple Phone 62 |