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Show l1X gjL' MELEES ALT LAU VALLE! r rices Iftt m. m M 1M COPPER GOLD (pir vi SILVER Mlu LINO HHi ISJS LEAD NDi IMN (Hf IN) Features Mining, Oil, Financial NO. 47. VOL. 18. Salt Lake City, November 21, 1947 Carter Oil Free Enterprise Held Need of Mine Industry Plans Third t UintaH Test The CarCompany has officially announced that its third Uintah Basin wildcat test will be drilled on the SEW: of the NEVi of Sec. 28, T4S, R20E. This location places the proposed scene of operations in the vicinity of about 1 mile northeast of 4he Davis No. 1, Carter's first wildcat test hole ip the basin. Although the site has been staked, the drilling contract has not been let, and Carter officials are unable to set the date when operations will start. Much depends on the outcome of the testing of the Knudsen No. 1, Carters well along Highway 40, which brought the ' oil fever to a new high during the. summer when, a good showing of black gold" was encountered- between 'the 3737 and 3741 foot levels. Making- Test Over at the Knudsen casing has bee nset at the 6006 foot level and a gun perforation test is now in progress. This test involves the firing, of revolver cartridges, detonated by remote control from the surface, through the casing at specified levels. Oil, - water or what have you seeping through the punctured cases furnishes the material for testing. The gun perforation test at Knudsen resulted in heavy the ' water sands pouring into the casing. But efforts to block off the water ahd effect a complete exploration of the underground structures is the objective set for final operations in The Twists." Carter Oils Vernal block, where the company is confining its current drilling activities, is the oldest block in the present Uintah Basin oil play.- - It is located entirely within government owned lands, and with Asphalt Ridge as its center, stretches from a point near the Knudsen Number 1 west toward Roosevelt, and from about 5 , Continued On Page 2 Oil- - . Ore Shipment Made From La-poi- nt, - - - . MINES, BADLY DEPLETED during the war, are inaugurating intensive development and exploration programs throughout western mineral areas in ai effort to rehabilitate this vital industry. It is claimed by some, however, that government restrictions still tend to slow these projects. Metal Search Accelerated In Effort to Meet Demand Probably never before in the history of our nation has there been a more intensive study search for minerals than there is today. Sharp eyed detectives are hunting the hidden materials from the Alaska's Seward penninsula to the dunes and beaches of Florida. Much of this search is centered on Western United States and particularly Utah which produces a large part of the metals that put the sinew in the nations industrial bicepts. Individual mining corporations have their engineers and geologists running down every about a lead , that might bring., new mine, as new ' producers have been few and far between in the last two decades. Why all this tapping around? First of all the demand for metals is heavy arid at present rate of consumption the nations supply of strategic minerals will look slim at the end of 25 years unless new supplies are found. Moreover, our pari in the reconstruction of Europe demands 0 metals and there is a $100,000,-00metal stock pile to " be maintained by the government, under an act of .'last Congress. Number one need is development. In the past individual firms have done much of the searching for ore and mineral reserves. During the war, however, with increased emphasis on actual production rather than prospecting, Utah mining now finds itself in need of rehabilitation. More of the return from GOLDFIELD, Nevada The ores mind must be ploughed Grand Central mine in Gold-poi- nt back into development is now in' actual operation, Frank Maloney, secretary treasurer of the company, said in Tri-Sta- te Shipments Goldfield ' this week. The hoist and compressor have been in- Record Increases stalled and - the head frame Substantial JOPLIN, Mo. raised. Other necessary equipment gains in shipments of both zinc arrived at the Grand Central and lead concentrates were remine early this week, including ported in the Tristate district two lengths each of 50 ft. air last week as prices remained and water lines. Also included unchanged. in the shipment, which came Zinc shipments for the week from Reno, was s toping and 2944 tons as compared totaled drifting equipment. 2121 tons in the previous with Mr. Maloney- indicated that 542 tons of lead while week, are now on negotiations going . 323 were in Reno relative to purchasing tons shipped compared with 25. Oct. the week in ending Gold mill from the Nevada Charles Richards of that city During the week 21 mills and If a deal can be made, Ma- four tailing plant's operated as loney said that the mill, which compared with 20 mine mills has a 50 to 75 ton capacity, wil and the same number of tailing be available for a large amount mills operating the preceding of custom work. week. , - - . . Goldpoint's Grand Central Mine Starting Operation - - Report Submitted on Coal Mine Inspections . J. A. Krug disclosed today in a report submitted to Congress. The report is the first to.be made under provisions. of Public Law 328, approved August 4. 1947, extending the Federal Mine Safety Code, for bitumi- -. nous coal and lignite mines and requiring a quarterly report on the conditions of mines investigated or inspected by Bu reau inspectors. . Royston Mine - - Aug-Hour- ly. Earnings At New High NEW YORK Payroll figures generally moved upward in August, according to .the monthly survey .of the National Industrial Conference Board of payroll statistics for production workers in 25 manufacturing industries. Actual hourly and weekly earnings, employment, man hours worked and payrolls were all higher than in July. Average hours, however, remained the same as in July and real" hourly and . weekly earnings declined slightly. Average hourly earnings in August' exceeded all previous peaks for the eighteenth consecutive month. At $1,365, they were 0.8 above the July figure and 12.2 greater than in August, 1946. They also topped the wartime high reached in June, 1945, by 2.4 cents, 22.9. Since the work week averaged the same as in July, with little or no change in overtime payments, increases largely acwage-ra- te count for the rise in hourly earn. ings. . MlttmiKii -- Approximately half of the violations of the Federal Mine Safety Code reported by Bureau of Mines coal mine inspectors during the past three months have been corrected by owners or operators of 103 of the 471 bituminous coal and lignite mines examined between July 1, 1947 and September 19, 1947, Secretary of the Interior EL PASO, Texas If the small mine operators had any opportunity to return to a true free competetive enterprise system the kind under which the present great mines of the country were found and developed their major problems would largely disappear and no government relief or subsidies would be needed, stated Charles F. Willis, state secretary of the Arizona Small Mine Operators Association, Phoenix, when he addressed the closing session of the American Mining Congress Convention. Willis spoke to the gathering on Problems of the Small Mine Operators" and outlined point by point the handicaps which face the small producers in their efforts to develop the natural resources of the country. He stressed the need for a strong and healthy mining industry from the standpoint of national security, Settlement was received reand criticized sharply the efforts cently on a fifty ton car of of administration leaders to pro- ore shipped from the property mote the belief that the United of Royston Coalition Mines, Ltd.t States has become a have-no- t" at Royston, a short distnation in so far as metals and located ance from Tonopah, Nevada, acminerals are concerned. cording to a report reaching Salt Many current problems of the Lake this week. small mine operator and many of the suggested answers to them Output Started involve cooperation or assistance . This is the first production on the part of the government, from this property for a numWillis said. However, it must ber, of years and was produced be kept in mind that the answers from .the E. ' S. Perry lease. proposed are for the relief of Work was started by this group conditions which exist, rather in September of this year at than a correction of the basic sit- the Royston property and presuation which has brought about ent plans indicate that the operation will be a continuous the problem. one. Premium Plan Values reflected in this shipThe first problem discussed ment approximate .06 ounces was the need for some form of a gold and 16.62- ounces silver premium ,priceplan for. metal? to theof ton, showing a. gross around $15.70 per ton. as a temporary answer to carry value the industry through this imme- The ore was shipped to Kenne-co- tt Copper at McGill, Nevada. diate postwar period and until normal conditions of supply and Holds Oil Lands demand can be restored. Willis stated that many small mine op- at In additiontheto the property company also Royston, erators have not yet recovered Merrimac from the shock of the unexpect- has holdings in the Elko District, County, Mining ed veto by President Truman Nevada. would which bill Allen the of The corporation is also inhave extended premium pay- terested in oil lands located in ments on copper, lead and zinc 28 and 29 in Unitah Sections for- a period of two years, and in the vicinity Utah, County, that there are many mines which of recent oil excitement. activity recover. never will unis firm The incorporated to Willis urged the industry of of State laws the the der press for the early enactment of Utah and offices of the company the Russell bill now before the are in the Newhouse Building, 80th Congress, which would establish a national mineral policy Salt Lake City. and which, he believes, will go far toward providing for the wherewithal to find, develop and produce all the metals and minerals essential for national dePark Bingham Mining Comfense. pany, Newhouse Building, Salt Stockpiling Lake City, Utah, will make a Since stockpiling is an integral liquidating payment of two cents to stockholders of part of any national security pro- per share of Preferred Stock, on record such Willis that advocated gram, December 1947, according to 10, a program be extended to more this week released information . in metallic metals than form, thus making it possible for the by officers of the company. Books of the firm, on Presmall suppliers to sell ores and concentrates to the government ferred Stockholders, will be closed on the third of December, 1947. (Continued On Page 2) , ROOSEVELT, Utah eer One Year $2.50 F! - . - Park Bingham To Make Payment . Discoveries Impetus to Wyoming OilWithActivities The field had CASPER, Wyoming additional discoveries continuing to provide impetus to the steadly mounting oil play in this state, a noticeable trend in recent weeks has been the move to the to test old structures Madison lime, possibly an after-mat- h of recent Madison developments in the Elk Basin field. A summary of recent important developments includes: Sea1. Indications that the comhas board Oil Company mercial production in the Phosphor ia; topped at 8496 feet, in its test on a fault block west of the Elk Basin field. Testing of the under lying Tensleep is now under way. 2. A major strike by Stano-lin- d in the Torchlight field, where a well deepened to the Tensleep came in with a flow-lin- g Initial of 1632 barrels a day. ' bU br p01 coflBiw J Wdt ot rai. a Oft g obtaVa." Metal Mining Industry oi Utah. . previously produced from the Mowry. 3. An expanding lease play in the Powder River basin in eastern Wyoming and southeastern Montana, following an apparent oil strike by Texaco in its Adon wildcat out in the center of the basin, and following additional discoveries in the Mush Creek field area, on the east side of the basin. As an indication of the current trend of thought in Wyoming oil circles, Sinclair-Wy- o ming Oil Company is deepening an old producer to the Madison in the Lost Soldier field in Sweetwater county, now controlled wholly by this company. The f;eld has produced more than 34,000,000 barrels of oil since its discovery in 1936, from zones above the Madison.- The well to be deepened is now producing from the TenSleep, total depth of 4285 feet. , - . |