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Show y. January 2, 1948 The Western Mineraf Survey, Salt Lake City, Utah or NOTICE NEVADA METALS ASSESSMENT MINING COMPANY, principal place of business at room 214 Boston Building, Exchange Place, Salt Lake City 1. Utah. NOTICE is hereby given that at a meeting of the Board of Directors held on the 9th day of December, 1947, at Its office, an assessment known as assessment No. 1, of one cent per share was levied on the Issued and outstanding stock of the corporation, payable December 15 1947, at the office of the Company: 214 Boston Building, Balt Lake City 1, Utah. Any stock upon which this assessment may remain unpaid on the 15tb day of January, 1948, will be delinquent and advertised for sale at public auction; and unless payment Is made before, so many shares of such delinquent stock as may be necessary will be sold on the 1st. day of March, 1948, at the hour of 2 p.m at the office of the company, 214 Boston Building, Exchange Place, Salt Lake City Utah, to pay assessment and costs. CHRIS T. PRAGGASTIS, Secretary. Goldfield Strike May Rate Mill GOLDFIELD, Nev. Weighing lbs., the new gear for the Florence shaft hoist has been delivered at the mine by Newmont Mining Corp. It will require some time to replace the gear but no time will be lost in installing it. Many and diverse rumors are afloat in Goldfield and Tonopah concerning the value of New-mon- ts gold strike on the Whitehorse property, but there is no way these rumors can be proved or disproved .in view of the companys decision to withhold all publicity covering mining developments. It is stated that plans for a modern mill to be constructed in Goldfield have passed the blueprint stage and the mill is 2400 a definite part of Newmonts plans for 1948. Size of the pro- jected milling plant ranges from 100 to 500 tons.. It is known that even before recent discovery of the rich vein in Whitehorse ground, construction of a mill was under discussion, as a quantity of low grade ore had been opened bp by Newmont in the companys Deep Mines operation. The ore was of marginal grade, however, based on labor and construction costs at that particular time, and it is likely construction of the plant would have been delayed for some time had not the recent discovery been made. At the Silver Pick, which is assumed to be on tne line of the new ore 3isc every, it is reported the Silver Pick shaft is to -- he sunk an additional 150 feet. It will be necessary to retimber the shaft, it is said, from the 600 foot level to the bottom, which is 1350 feet deep. Considerable diamond drilling was done in the vicinity of the Silver Pick but nothing has been given out as to possible discoveries made. Fred Searls Jr., president of Newmont, spent several busy days in Goldfield recently going over company affairs, but left Wednesday. It is reported he was well pleased with the development work now in progress, but beyond this expression, little else could be learned. Removal of Tax Aid Foreign Gold Producers MELBOURNE, Australia Re- moval of the tax on gold by the Wildcat Oil Wells Key to New Output (Continued From Page 1) it to be the most expensive wild- cat ever drilled by Carter. . When the Shawnee Wildcat Cole No. 1 was plugged and the derrick dismantled after 13 heart-breakimonths of drilling, all Carter had to show for a hole in the ground more than two miles deep was a bill which read like this: Footage drilling cost (6,325 ft. at $12 per ft. . . $75,900 Day work drilling cost . 218,579 Drill pipe rental 15,579 Total contract drilling . . cost 309,797 Other well cost (transportation, supervision, 172,177 drilling, mud, etc Total cost of well $481,974 THIS is exclusive of exploration, leasing and other expenses which pushed the cost beyond mark. Despite the half-millithe unfortunate Wyoming test, Carter has something like eleven wildcats now drilling, in the states where it operates. The company will drill its third Uintah Basin test well in the im- : mediate future. All these costly wildcats are being drilled only in choice loht cations where geologists and geophysicists, using the latest scientific equipment, have found good prospects. Yet only the drill can find oil and no matter what the cost, oil companies must continue to drill. This industry as a whole this year plans an 11.4 per cent increase to the highest number of wildcat tests in history, reflecting the current high demand for oil and the desire to increase reserves, despite the risks C-1- 20 ng on top-flig- Exchange Quotations FRIDAY. JAN. Hill Bingham Metals Bonanza Mining xBristol Silver xBullion xCxrdiff Central Standard xChlef Con xClayton Silver xColorado Con xColb. Rexall xCoinbined Metali Commet Coal'n xCommonwealth Lead Crescent Eagle Oil Croft Crown Point xCons. Eureka xDragon E. Crown Point xEast Standard E. Tin. Coal'n xEast Utah Empire Mines xEureka Bullion xEureka Lily Con Eureka Mines Eureka Standard Gold Chain Oreat Western xGrand Deposit xHorn Silver Big xHowell ... ;... Kentucky-Uta- h Keystone xLakeslde Monarch xLconora xLlttle May xMadisou Mines Magnolia Lead xMammoth Miller Hill . xMiners Gold Missouri Monarch xNevada Metals Nalldrlver xNew Park xNew Majestic xNorth Lily" ........... Grand Deposit 4000 at 4. New Park 1700 at 1.65. North Lily 200 at 48, 100 at 600 at 46. Ohio Copper 500 at 11. Park City Con. 6600 at 43. 1000 xOhio Copper Park Bingham xPark City Con Park Konold Park Nelson Park Premier 47, Standard Slout Mines operations are unfree der way at new 500-tmilling plant at Jumbo mine of Austin Brothers Gold Mining Company, located in Slumbering Hills, 40 miles northwest of Humboldt County, Nev. New plant supplants a 25-tpilot mill which hes been in operation for past 12 years, since recrudeplacing the original ly constructed ball mill used after the famous gold strike i by George Austin at Jumbo mine attracted, national attention in 1936. The mine was subsequently sold for $10,000,000 to H. L. Hunt and J. K. Wadley, oil and mining operators of Texas and Arkansas, who defaulted in provisions of the sale and the property was returned to the Austin family. v New 500-to- n plant was designed and built by Monte Verda and Sutton, engineering firm of San Francisco, under the direction of A. C. Sutton. Features of the plant are a water system designed to deliver 130 gallons per minute, lifting the water approximately 2,000 ft.; a crushing plant capable of handling 500 tons in 8 hrs., including vibrating screen, jaw crusher, gyra-sphe- re crusher, 600 ft. of conveyor belts (: units), and a 500-to- n bolted steel ore bin; a closed circuit system mill consisting of ball mill, amalgamator and classifier designed to handle in excess of 500 tons in 24 hours. Present owners of Austin Brothers Mining Co. property are George B. Austin; his wife, Bernice; their two sons, Kenneth and Wilfred; their daughter, Mrs. Bonnie Jean Sobiro of Reno, and Mr. Austins brother, Jess S. Austin. le on Win-nemuc- on 2-t- West Shield g xSilVer xSilvVr Operating Full-sca- Tlntic Standard Coaln xSilter King Coal'n. SilvcV-KfA- on ca, Art So. So. Blossom Handard Swansea Con xTar llaby l .... xUtah-Wy- o. ... ....... . . . OPERATING Cardiff Victor Con Western Alloys West Toledo xWilbert xYankee Con Zuma xUtah Id. Bug. Com.. .. xUtah Id. Bug. Pfd Unlisted Stecks xAmalg. Bug. Pfd. Con Wag. A Mach xUtah Fire Clay xUtah P. A L. Com .... xZ. C. M. I SALES ............ at 1 Bullion 1000 at 4ft, 1000 at 5. Clayton Silver 1500 at 44. East Utah 3300 at at 53. 2000 at 55, Grand Deposit 3000 2000 at 10ft; 2500 Chief Con. 100 at 1.10. Colorado Con. 2000 at 3. Combined Met. 500 at 22. Cons. Eureka 3500 at 10. Leonora 3000 at 3ft; 7000 at 3. Park -- 1100 400 53. 200 at 54, 100 at 52. it 4h. 3 Vi. 1000 ard. Recent Stock Quotations fNomlnsl at ; 3. Oil at 1500 3000 19. NON-OPERATI- Crescent Eagle 2500 at 16. Empire Mines 1000 at 2 ft. Eureka Std. 500 at 26. Western AHoys 5000 at 4ft; 1000 Zuma 1000 at 4ft xlndicatea operating companies. at 4. NON-OPERATI- commonwealth government has OPERATING given satisfaction to gold proBullion 1000 at 4ft. ducers. The amount of the tax Cardiff 500 at 10 Vi. Chief Con. 700 at 1.00. was 50 per cent of the excess 2000 at 5 Vi. , East Standard reand for in gold selling price East Utah 600 at 55, 900 at 53, 100 cent months this has amounted at 51. 400 at 50, 800 at 48. Eureka Bullion 5000 at 16. to 17s. 7d. per ounce. To low Eureka Lilly 500 at 27. to mines and companies profit Grand Deposit 2000 at 4. on were borderline values, that Horn Silver 500 at 29. Lakeside 1000 at 2 Vi. the tax was a serious item and Leonora 1000 at 3Vi. its removal will afford imporLittle May 2500 at 2Vi. tant financial help. New Park 100 at 1.65. North Lily 200 at 45, 4100 at 42. In some quarters there is a Ohio Copper 1200 at 11 Vi. belief that an important increase North Standard 10,000 at '2 Vi. imin gold mining activity is P. C. Con. 2800 at 43. Utah 500 at 2.25. minent, not only in this state but ' Park Rico Argentine 3300 at 1.45. throughout Australia. Large Royston 1000 at 5 Vi. Silver King Coalition 500 at 5.50. companies and strongly financed have Silver Shield 1000 at 3 Vi. been busy organizations Sliver Standard 6000 at 2 Vi, 4600 at since the end of the war, but 2 Vi. 2000 at 2 Vi. is renewed interest expected Tlntic Lead 500 at 29. Level Tlntic Standard 300 at 1.25, 500 at from smaller companies, to 1.22 Vi. which the removal of the gold CASPER, Wyoming Winding tax is expected to offer greater a year in which the Wyoming up Bingham Metals 6000 at 2 Vi. incentive. Gold Chain 2500 at 2. oil industry has witnessed beKentucky Utah 250b at 1. wildering developments, operaTlntic Central 1500 at lft. Cons. Coppermine tors throughout the state are x Indicates operating companies. continuing activity at a midCons. summer KIMBERLY, Nev. adverse pace TUESDAY, DEC, 30, 1947 despite Coppermines Corp, reports to winter operating conditions. OPERATING the SEC gross sales of $1,635,-66- 4 Bristol Silver 1000 at 16 Vi. As the year comes to a close, Chief Con. 100 at 1.05, 500 at 1.02 Vi for the quarter ended Sept notable highlights include not 1800 at 1.00. 30 compared with $1,131,980 in only the development of new Cardiff 1000 at 10 Vi. the corresponding quarter of producing areas, as in the pro500 at 11, 1000 at 10, East Standard 4000 at 5 Vi. 1946- - This brings volume for the lific Mush Creek area, but also East Utah 400 at 54. nine months ended Sept 30 to the opening of deeper pay zones Eureka Bullion 1000 at 16. in fields throughout the state. I Eureka Lilly 500 at 27 Vi, 500 at 26. $3,413,088 against $3,183,380. 2.03 Utah Southern Oil at 7. Moscow 1000 at 3. New Majestic 1000 at 3ft: 3000 at 3ft. New Park 1000 at 1.60; 100 at 1.62 ft. Park City Con. 100 at 42; 500 at 43. Rico Argentine 200 at 1.45. Royston Coaln. 5000 at 5. ng Bid 2.85 5.87 ft 1.07 2.02 Stiver Syndicate Equity Oil Sun. Con. Silver Dollar A Silver Dollar B 10. 3ft; furnished " by Kearns quotations C. Badger Company, 310 Building, Salt Lake City, Utah.) at at 1.75. SATURDAY, DEC. 27, 1947 North Lily at 45. 1000 at 44, 500 OPERATING at 45. Cardiff, 1000 at 11. North Standard 3000 at 3. Comet Coalition, 500 at 12. Ohio Copper 4500 at 12 Vi, 3000 at 13. Eureka Lilly, 1000 at 29; 13.000 at 28. park City Con. 300 at 44Vi, 700 Grand Deposit, 21,000 at 4. at 43. New Majestic, 1000 at 3ft. Silver Standard 1000 at 3. New Park, 200 at 1.60. Tlntic standard 100 at 1.25. Ohio Copper, 2000 at 12. Rico Argentine, 900 at 1.45. Silver Standard, 5000 at 2ft. East Crown Point 1000 at 4 Vi. Tin tie Standard, 3100 at 1.25. Eureka Mines 6000 at 5. Union Chef, 2000 at 4. Magnolia Lead 1000 at 4. , Utah Wyoming, 500 at 18. 1947 DEC. 31, WEDNESDAY, New La-poi- Richard Madison Mines 7000 Utah-Wyoml- at 1200 Silver Standard 6000 at 2ft. Tlntic Lead 500 at 27. Tlntic Std. 500 at 1.25; 100 at 1.22ft. OPERATING Leonora 3000 Mountain View at 1.22ft, xlndlcates operating companies. MONDAY, DEC. 29, 1947 ..... .... Con. Oil .... 200 100 Big Hill 11.000 at 6. East Crown Point 1000 at 4. Empire Mine 5000 at 2ft. Kentucky Utah 3000 at 1. Nalldrlver 1000 at 21. Silver King' Western 300 at 61. Western Alloys 1500 at 3 ft. West Toledo 2000 at 3ft. xTlnticTLead xTintic standard xUnlon Chief ....A Utah ROOSEVELT, Utah Oil Company announced late last week that it will commence drilling a fourth wildcat oil well sometimr early in 1948. To be known as the Ruth Nelson No. 1, the well will be located in the SWV of the NEV4 of Sec. 33, T 5s., R. 21 E., Salt Lake Meridian, which location will place the well approximately 8 miles south and 1 mile west of VernaL The well will be drilled simultaneously with the Esther S.nt, Schmidt No. 1 located near which is expected to spudin within the next few days. These test wells are being drilled by the Carter Oil Com pany to meet federal regulations governing oil explorations on government oil lands under lease. These requirements make it mandatory that a certain number of wells be drilled within a specified time if lease holders are to retain their rights. The Carter Company, a sub- sidiary of the Standard Oil Company of New Jersey, . ,yorld!a largest oil company, has been actively engaged in exploratory work throughout the Uintah Basin. Their first well, the Edna Davis No. 1, located northwest of Vernal, was abandoned in April after reaching a depth of 8,001 feet. The Knudson No. 1, located in the Twists on Highway 40 between Roosevelt and Vernal, was drilled to a depth of 6012 feet and thoroughly tested before being abandoned just recently, Roosevelt Stand- NON-OPERATI- Tlntle-ktentra- Con. . Carter St Rico Argentine 500 at 1.45. Royston Coalition 2000 at 5. Silver Shield 5000 at 3 ft. Stiver Standard 1100 at 2ft. Tar Baby 1000 at 5 ft. Tlntic Lead 3000 at 27, 500 at 27ft. Plumbic Mines xPlutus xPrlnce Con xProsper Mng xRlbo Argentine xRoVston i Drill New Well, is Claim -- Standard xPark Utah Pioche Bristol New Mill at Jumbo Mine of Roswell, Slew Mexico, chairman of the nterstate Oil Compact Commission, stated in a broadcast from Ddessa, Texas, recently that gaso-m- e now costs Americans only a little more than half what it cost 25 years ago. In an informational oil program broadcast from station KO SA, Dow said the average serv-c- e station price of gasoline, minus taxes, was cut in half 1921 and 1946 due to progress in production and refining methods. Participating with Dow in a roundtable discussion of the cil industry were John W. House and J. Ed Warren, Midland, Texas, oil men and officials of the ndustrys public relations committee. Sayings accruing to the American public from lowered gasoline costs have reached a lalf billion dollars yearly, the commission chairman declared. On Dec. 1 1946, the average axable price of gasoline was 15.61 cents per gallon, with an average tax per gallon of 6.09 cents. This reduction was accomplished during a period when he industrys wage scale was doubled. Competition to produce better motor fuel was the cause. Dow M. Teacher (talking about the dolphin and its habits): Just think! A single dolphin will have two thousand baby dolphins. Little Girl: Goodness! And how many do the married ones have? xMoscow Mt. City Copper xMountaln View xNo. Hiram be-we- en .......... Indian queen Kennebec Carter to Oil Firms Push Fuel Prices Lower L Stock S. NON-OPERATI- Eureka Standard, 2000 at 26. Silver King West.. 1700 at 90. xlndlcates operating companies. 12.50 Asked 3.00 6.25 1.10 2.07 2.15 13.50 (Furnished by Edward L. Burton A Company, December 24, 1947, 160 South Main Street, Salt Lake City.) Asked Bid 9.75 Amalgamated Bug. Com... 9.50 9.25 i Amalgamated Bug. Pfd. . . 8.75 First See Corp. Class A 53.00 55.00 14.50 14.00 Mountain Fuel 14.25 13.75 Utah Oil Refining Utah Power ft Light ... 21.75 22.75 79.00 Z. C. Id. I. ....... (These quotations furnished by J. A. Hogle Company, 132 South Main Street, Salt Lake City, Utah.) 34 AC Anaconda Copper 55ft AP American Smelting 38 ft HM Homestake Mining 26 IN International Nickel 48ft KC Kennecott Company 48 PD Phelps Dodge Getchell 'Gold At the GOLCONDA, Nev. Getchell gold mine, about 26 miles northeast of here, work now in progress is carrying out metallurgical tests and improving plant installations. A crew of 35 men is employed. At the mine a large tonnage of good ore is available for milling and a new vertical shaft has been sunk to a depth of 300 feet, with drifting in .progress to connect it with other underground workings. Shaft equipment installed recently includes a new steel headframe and hoist & MORRIS URE, PETT COMMODITIES BONDS STOCKS . MEMBERS Salt Lake Stock Exchange Chicago Board Trad Chicago Mercantile Exchange IDAHO FALLS, SALT LAKE CITY. UTAH POCATELLO, IDAHO U EAST 2ND BO. 234 WEST BONNEVILLE Wyoming Oil J. A. Development At High IDAHO 412 B STREET HOGLE fir CO. v York Stock Exchanges Members Sail WE SPECIALIZE IN MINING STOCKS - Lake-Ney- PRIVATE NON-OPERATI- WIRES 132 MAIN ST. Salt Lake TO ALL MARKETS HESEL BLDG. Ogden -- H. E. HAVENOR fir CO. 619 NEWHOUSE BUILDING, SALT LAKE CITY, UTAH MEMBER SALT LAKE STOCK EXCHANGE INFORMATION FURNISHED ON UTAH COMPANIES ORDERS EXECUTED ON ALL EXCHANGES Con.'-Eurek- Telephone , 1 A V- - J) 57 J |