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Show October 20, 1969 OIL Page 3 MINING JOURNAL & chuckin' flew 1 By Chuck Hayward Western congressmen have been accused of seizing upon the issue of a dollar to memorialize Dwight D. Eisenhower as a vehicle to drive up the price of silver at the expense of consumers, as debate rages in Congress over whether the commemorative dollar would contain any silver. Sen. Peter H. Dominick, and Rep. James leaders of a congressional push to give the Eisenhower dollar 40 per cent silver content, strongly denied that their push for silver content in the dollar sprang from economic considerations. A. McClure, R-Ida- R-Col- o., ho, It is somehow beneath the dignity of a great President like General Eisenhower to withhold silver from the coin, McClure argued before the House. In response to a similar argument in the Senate, Sen. John 0. Pastore, responded Ourrevered President Abraham Lincoln is that, on the penny thats all copper! D-R.- I., Both the House and the Senate have approved the minting of the Eisenhower Dollar, the first U.S. dollar coin since production of the peace dollar stopped in 1935. But the Senate has voted 40 to 21 for Dominicks amendment to make the new coin partly of silver until the Treasury Departments silver stock runs in about three years-wh- ile the House rejected the same proposal and voted instead to make the new dollar of copper and nickel, as recommended by the Nixon Administration. out-proba- GoDff Ci!sQDrsStf mrakCi HOUSTON, TEX. - A merger V said that an agreement the copper-nicksandwich, which already is used for dimes and quarters. It will take a conference committee from the. two houses to resolve the differences. el a of Sen. Frank Church, the measure, said during debate that Silver is the essence of a prestige coin due to the enhanced clarity which can be achieved with silver as a raw material. Republican Sen. Len Jordan, Idaho, hailed the passage of the resolution calling for the coinage of a silver Eisenhower dollar and said; This action not only honors one of the truly great national and also is supported world leaders of our time-b- ut by sound, economic reasons. D-Ida- ho, co-spons- principle to merge has been readied and will be submitted to development in the Mountain West. Robert H. Allen, president of Gulf Resources and Chemical Corp., Houston, and Charles G. Dunwoody Jr., president of Dunwick Co., Denver, Colo., within a week. Gulf will be the committed to minerals directors and stockholders surviving corporation. Gulf is 51 per cent owner weekly Treasury Department sales of silver which has pushed down the price received by miners and refiners of Justheim Petroleum Co. continues to hold its principal assets, Clarence I. Justheim, president, emphasized last week ' in commenting upon the firms recent participation in formation of Utah Resources International, Inc. EqhmA W A SUING Interior Department must honor claims to oil shale mining lands in Colorado that were filed prior to 1920. I merger, he emphasized. Retained by. Justheim Petroleum are patents relating to recovery of solid carbonaceous sDdgqD ruled that the department hadn't any legal right to cancel the claims; the Interior Department announced that for a certain period of time it would Weston Jordan said the amendment would not supply. Justheim Petrolium assigned some of its properties to the new venture but has not joined in reconsider applications, but only claims were reclaimed The Department of the 74,000 under the procedure. Interior says the claims on shale OIL SHALE Corp. and others cancelled were locations mining between 1928 and 1931 on the brought suit after interest in oil shale was revived in recent years. ground that the claim owners A Federal district court in hadnt met their obligation to Colorado ruled that under the improve' or spend $100 on labor CourLs 1935 Supreme decision annually on each claim. the Secretary must issue the In 1935 the Supreme Court patents; an appeals court silver. artificially raise the price of silver, while the Treasury sales ARE artificially depressing the price. He explained the proposed silver dollar would utilize existing supplies of silver available in the treasury and now being sold as surplus.. Authorization of the minting would return to , the treasury about $120 million more than the present auctions, Jordan said. He stressed that the total amount of silver required for the minting is a fraction of the available silver TON-T- he INVESTMENT SECURITIES Members Salt Lake Stock Exchange INVEST WITH OUR MARKET SPECIALISTS OVER-THE-COUNT- ER Salt Lake City 2000 Univ. Club Bldg. Vegas rg material in place by use of nuclear reactor heat, and the water; production of virus-fre- e income form the Big Piney Gas Field, as well as working interest in oil, oil shale, and bituminous sand leases now held by Husky Oil Co., he said. cDdaoDODs affirmed the district court and the Interior Department the appleased to Supreme Court. Since 1920, private rights to develop oil shale properties on Federal lands may be obtained only by lease. Brokers, Underwriters, & M mining We Understand Your Needs Hi V. PRINTING t-ie- u LITHO 3479 SOUTH 2700 WEST 364-197- 1721 E. Charleston Blvd. Phone: 384-299- 5 Dunwick has oil and gas rights in Colorado, Wyoming and Nebraska. Most of its working interest acreage is located in the west central Dcnver-JulesbuBasin in Wed and Morgan counties, Colo., and in Laramie County, Wyo. 8c 136 E. South Temple 1 Phone: Las for the extraction of minerals form the lake. otdtcgDs sfloiry y Supreme Court will decide if the of Great Salt Lake Minerals and Chemicals Corp. which is now building a plant at Little Mountain on Great Salt Lake, JogSiriiQ(DIfflD or Dominick's amendment would end the in agreement was announced between two firms heavily bly The House bill also would switch the John F. Kennedy half dollar from 40 per cent silver to DDDSGSICD Provo 163 N. Univ. Ave. Phone: 7 374-825- 298 2403 j I |