OCR Text |
Show IJ-- .... 1. fi-- i 1.9 vIS- - ? E , Mil rr TOr . i ' tj r :, I VALLE T SMELTER TRICES "17 SILVEB (per m. mv lead, per im Features VOL T8. NO. 1. miut) COWER Xy Financial Oil, Mining, li. ; i -- LAKE WC (ft 10) Salt Lake City, January 3, 1947 im 19.S7S ELSIES lOAOa cr m.)' GOLD NM V One Year $2.50. East Standard Buys Mine In Arizona Warning Issued Of Need For Mineral Exploration V Huge demands during two world wars have drawn heavily United States reserves of metals and minerals upon a Continuing comprehensive the although expansion program, East Stan- country still has abundant resources of the most acessential, dard Mining Company recently cording to the recently winter issue published of The Index an additional of acquired group quarterly publication of The New York Trust Company. mining claims. The study warns, however, that Located twelve miles from the Prescott, Arizona, the claims security and prosperity of were purchased outright by the he nation call for a continuing ::irm. The property is opened A MAJOR FACTOR in the success of mininr ores si Pioche, appraisal of its metal and minshallow shafts and it is anNevada was the construction of recovery plants at Bauer, Utah. eral resources, together with a ticipated that the company will Not only treating ore from Pioche, the Combined Metals mills program of research and develbegin exploration work on the at Bauer also handled ore from other operations. Shown above the in near future. property opment that will guarantee a is the Bauer mill. In the meantime, work is prosupply sufficient for commercial gressing at the companys newly use and for defense. acquired properties at Eureka, Deplete Supplies Nevada. This property, consistGreat as are its resources. ing of 6 claims, was recently United States reserves of some the purchased by company and metals and mtoars'h important development, work started. have been depleted by unir (.:) This work is being directed dentedly high production aur- toward drifting on an East-We- st ing the last five years, while fissure known as the Selia, to ' Joy (Editor! Koto: This U tha fifth of s series of eight articles giving highlights normal development of additionthe North - South of the history of Pioche, Nevada, a. mining district which has been an Important fae- - encounter al reserves has not proceeded be- - ' tor In Utah Industry and vhich has been rebuilt by Utah men.) Jostyn Champion fissure that- was cause of the manpower shottagb formerly productive in . higher and the necessity for concenMike Miner By levels. The lower, adit is exn ii all attention on productrating to encounter the Cham Mr. District Attorney tion to meet war requirements, Pioche outlived the' rich halcyon days of the high grades, and pected fissure below pion the oxidized dissays the report zone. today has taken its place as one of the great silver-lead-zitricts of the West under the leadership of Edward H. Snyder, Utah The company also controls says Stockpiling Urged man. to located Stock piling of minerals and Will mining hated in the properties mining Rogers always Mining district. Utah. sign a theatrical contract, prefer- metals Snyder first became inter- - Tintic supply, already the company is listed under The Index way, is ested in the - district in 1911 anc Stocktheof Salt ring instead a verbal agreement essential both through says, Lake Stock on, imports clinched by a sincere handshake and through a program of govactively entered the district in Theres no finer compliment you ernment buying of domestic ma1913. In 1914 he formed the can pay a man than to say, His terials, particularly in times of Greenwood leasing company, business recession, that will word is his bond. maintain utiUzation of resources partnership of four men, E. W tmd encourage, development "of :W. Fv, J. Nichols, Clark, George J ' s t IS. Cheerfulness 'pays off In reserves. Such program" need not V U ng ouyciev - and.ii.rM. Cushing, ail more ways than one. Today in involve subsidy payments. of have .whom been promlnen jVjiperations of the Pleasant Val- -' In Utah Urge Stockpiling a large eastern city two bootindustry for. the pas blacks work side by side at a There seems to be ample ley Oil Corporation at its hol- smarter of a : century. busy stand. One is a gloomy, ground for the belief that furdings in Pleasant Valley .are pro- - Firm Grows silent man while ther exploration hy the industry Out of this combination grew WALLACE, Ida. Dividend grossing satisfactorily, accord- -. has a smile, will uncover additional reserves. the other the always Combined Metals Incorporatrecord for the Coeur dAlene a ing to recent word received from ed, which began ' operations a warm In addition, research and imand word pleasant in T Edward S. Rich, president and 1915. From 1915 to 1923 the com- -, mining district nbw stands at thank yon for his customers. proved technology will no doubt revealed a check-u- p continue to' reveal ways by manager of the corporation. pany struggled along grappling $4,051,849 for the' year 1946 as Recently were mans cheerful which the .. tips marginal resources may be treating the against $4,046,334 for 1945, showDrilling has now reached the with the problem of as his as twice to used .high better advantage. A more lead-ziexactly ores. ' 1300 foot level with all indiccomplex sulphide ing an increase of $5,515 for the partner's intensive prosecution of a conThe did a very current yean servation program that will preations favorable, reported Mr. thorough and a very neat job of is unlikely that ari5r further vent the waste of natural prodIt Sj: Rich. we know An the The keeps lady elderly, gleaning high grades. ucts is indicated. ... . to disdividends will be declared this eternaUy young by refusing many old workings of the Drill Cap Rocks . hates. What ever and deficiencies old harbor to trict will this:' may but they year. Last year there were only 'prejudices testify At the 1700. foot level a cap ran into the She does it by rummaging exist need cause little alarm as of the low-graproblem rock, very similar to the cap ores eight mining companies that paid through the attic, discarding out- to the national security if acsulphide lead-zin- c rock at Rangely, was struck. and a problem of complex fault- dividends, but this year eleven moded, useless objects and at the tion is taken to guard against serioius shortages should the nasame time adding a worn-o- ut stood as a bul- companies made up the It was 100 feet thick, and after ing, This problem two tion again be involved in a global old and ' two to Dayrock or trash Sherman, the idea which . wark heap. held district the through it' to the pre- back for not did that conflict.. make companies . admany, years.. -' sent level, the drillers were in disbursements 1945, vised by the geologists in the Process Developed morning when the list with a Christmas theI remember one In 1922 progress was made in story-o- f ,a savage Nonferrous Scrap shocking employ of the Pleasant Vaand one new company. crime appeared in newspaper and set their solution with laboratory dividend, lley Oil. Corp., to stop King, made its entry for headlines. Fred, our crisp old let- Shipments Gain "proved the feas- Liberal casing. According to Mr.. Rich, tests which first time. Otherwise, this ter carrier, the floof selective on his regular ibility applying necessary casing is now en tation. An 10 per cent in dividend record would visit to saypaused years This was one of the first of the criminal, dealersincrease of - route from St. Louis and is ex-- L shipments of districts in which selective flo- have been considerably behind Whats he feared of? There was metals to consumers pected to arrive momentarily. of scrap that last . year. tation was applied, and marked ; world of logic in Freds remark. 1 Gas Showing There are .17 mines In the dis- Some sort of fear incites nearly was recorded during October, the beginning of a new era in to the Bureau of - In elaborating on the details, If you could according mining. Here and elsewhere the trict that are in the active divi all wrong-doin- g. United States DepartMines, criminals-to-bMr. Rich advised that after rich high grade carbonite and. dend-payie list, and their total look inside our The total of the 100 foot cap, a oxidized deposits had largely record up to date is- $155,485,161. youd find the majority were ment of Interior. Siercing tons was only 89,196 shipped -. of gas was been mined and mining was lan- Altogether, there have been 36 feared of something. 185 tons below the tonnage and that all. indic- guishing. So selective flotation dividend-payin- g mines in the moved during the same month ations point toward pay dirt not brought new life to mining and district, but 29 of them have Investors Mutual of the previous year. Advances once below the hew life to Pioche. present depth far been worked out. Every were registered in four of the New Plant of drillings. Roosevelt in a ' while one of them comes Declares Dividend five groups canvassed, thp lead In 1922 help was secured from back and the dividend MINNEAPOLIS Directors and tin scrap group belir:.. the the NationalLead Company to class. The total dividend disone in which a decrease of of Investors . Mutual, finance ..construction of a pilot bursements ' for the - entire Inc., only, occurred. balanced forced-is a record Americas largest which there ' type plarif, and. later that year, the open-en- d investment fund, here Combined Metals Reduc- stands at $200,941,644. tion Company. Immediately conThe reason for the present low today declared a regular quarstruction of a plaint was started dividend record is principally terly dividend distribution, from at Bauer,': Utah,', and May 1924, because of the drain of labor net earnings, of 12 cents a share, II Government sales of helium ores from the Pioche. district be- caused by the recent war. This payable January 21, 1947 to to flow,, toward the, Bauer labor difficulty has, not been shareholders of record DecemIf to commercial users of the Unit-'e- d gan which ' was designed to overcome and all of the mines ber 31, 1946. This is the first plant, States are expected to average handle 14 kinds of ores. of the district are operating on quarterly distribution of the current fiscal year. In succeeding years operations a restricted basis. more than one million cubic feet - Metals Combined of expanded fiscal year and treated ores from other areas monthly during 'the 1947, the greatest volume of .the including Stockton, Utah, BingEgas ever used industrially'. Dr. ham, Utah' and Hailey,-'Idaho- . R. R. Sayers, Director of the But all the time progress was to being made at Pioche, new ores Bureau of Mines, announced j were being found and the com-- i . ' , v . v - day. distribution solved. On the basis of. plex geology was being i Return of the many other contracts will expire months, (The ' sixth article : in this series . NEW YORK figures for the first four the .to miners srfoh comcoal colpits without or.be reopened during the, next in these will , appear of the fiscal year and hewsix months. Had Mr. Lewis been ' wage gains br other concessions mercial contracts beiiig negotiat- umns.) V secsuccessful in his test of strength, a of likelihood delays the ed for 1947 by' the Bureau of ond round of wage increases un- in the opinion of .these execuMines sole producer of helium Silver, Dollar discussions would til the outcome of the steel nego-to tives, wageforced foot a the one million-cub- ic' been have upoirmost com- -, The Sil- tiations are known, according WALLACE, Idaho month industrial Consumption Co. is making a survey of leading business ex- panies even where no, reopening ; i will be surpassed- - easily. Dr. ver Dollar Mining contract.' i, to jn,ofthe" October by the clauses ; existed obtain arrangements heavy ecutives just completed $ Sayers revealed. During is demands wave a new If Conference i 'a new all-tirecord for sales equipment to 'sink the shaft an National Industrial industries METAL' MINING INDUSTRY other 300. feet to tha 2700-fo- ot Board. A substantial number of Mt to motlor few to private users was' established com- -- a is. will undertypical " C are escape, states. were Dv 'O. level, UTAH feet already cubic ' negotiations 1 "of when 1,367,880 wr ment, end N way, executives report, :rJ Spokane; 'president, distributed. I ( by-tw- New Recovery. Processes Extend Life Of Pioche -- r - i L--. 3 s nc - in-sho- rt . Results At 1 Dividends J. -- , i,' h rrom Idaho Mines tan-briUi- sad-face- d, i 1 1 : nc . old-tim- ers - . - , de . list. . re-ente- red . : non-ferro- us , . -- ng - c red, - - r- . . re-ent- ers 1 dis-tricL- Helium Record - - . - . -- Demand For Wage Increases General, 2nd 'Round' Postponed . - - . I - . , , me -- I ' . j. ' 'ij t- v L - aJ , Jf V |