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Show May 5, 1969 C. Jay C. Page 5 OIL & MINING JOURNAL Parkinson garners honors Jay Parkinson, Chairman of the Board and Chief Executive Officer of the Anaconda Company, was awarded the Sylvan Gotshal World Trade Arbitration Medal at a dinner meeting of the American Arbitration Assn, in New York City, this month. The award was created in 1967 to pay tribute ta the individual who, during the year, did more than any other to encourage private settlement of disputes between businessmen who buy, sell or perform services across national frontiers. Arthur Ochs Sulzberger, Presi dent and Publisher of the New York Times, made the presentation. Mr. Parkinson, a Utah native, is an alumnus of the University of Utah (LLB '34), and a member of its National Advisory Council. A former Salt Lake attorney, he is a delegate of the United States to the n Commercial Arbitration Commission. In this capacity, according to the citation read by Mr. Sulzberger, the Anaconda executive has led the way in forging a network of arbitration associations capable of administering cases in virtually every one of the hemiInter-America- sphere's 21 republics." On May 16, Mr. Parkinson will receive his second honor: the Outstanding Alumnus Achievement Award" from the University of Utah's College of Business. The Award will be presented at a banquet which marks the conclusion of the U"s annual Business Week events. An active civic leader, Mr. Parkof inson is serving as the New York Chamber of Commerce; a member of the President's Council, American Institute of Management; and a Director of the Downtown-Lowe-r Manhattan Assn., Inc. Vice-Preside- nt Mr. C. Jay Parkinson S AEC triggers simultaneous underground blasts Two underground nuclear tests were detonated simultaneously Wednesday. Both were recorded on seismographs in California and one leaked a small amount of radiation at the Nevada test site. The Atomic Energy Commission said that the two low intermediate yield tests were triggered at 11 a. m. in the Yucca Flat area of the sprawling testing grounds. Each nuclear device had a maximum equivalent force of 200,000 tons of TNT or 10 times greater than the atomic bombs dropped on Japan during World War n. meaning the drilled shaft itself which housed the nuclear device. The AEC said that the radioactivity would not escape from the test site, meaning it not travel into civilian would areas and would remain on the government controlled test site. were triggered within a mile of each other. One blast -- code named Thistle - was buried 1,835 feet below the desert floor. The other -code named Blenton - was triggered 1,831 feet underground. They The AEC said that shortly after the detonation, instruments near ground zero of Blenton showed some radiation readings slightly above background (normal). It is not expected that any radioactivity will be detected off site, said the AEC. The radiation apparently escaped from the stemming, area of the blast. the same time wth a magnitude of 4.0 on the Richter scale. An employe of the U.S. Coast and Geodetic Survey in Phoenix, said his instruments Arlz. showed a reading of 5.0 at blast time. Later Wednesday, the AEC revealed that a second low inThe AEC originally announctermediate yield test had been ed only one detonation at 11 detonated at 11 a.m. It was a.m. Seismographs at the Uninot explained why both tests Berkat of California were not announced at the same versity tremor an earth time. eley recorded shortly after 11 a.n. which measSesmographs at Pasadena reon the Richter scale. corded' an earthquake at 10:15 ured 5.0 Scientists at Cal Tech in Pasaa.m. - apparently not connected dena measured earth shocks at with the nuclear tests - which was centered in the Salton Sea area o f California's Imperial Valley. A temblor occurred in the same area Monday with a magnitude of between 5.25 and 6.0 which was felt in many south em California cities as well as Las Vegas. The earthquake recorded Wednesday morning had a magnitude of 3.5 on the Richter scale. The two nuclear tests in Nevada, Wednesday marked the seventh and eighth nuclear experiments announced this year at the Nevada test site and increased the number of tests since the ban on atmospheric testing to 180. Earth Resources notes wide range DALLAS, Tex. Earth a Resources Co., company natural-resourc- e incorporated less than a year ago, and which went public" on February 18, has mailed its first statement to stockholders. was The company its founders, incorporated by Sam Wyly, Charles Wyly Jr. and Dan M. Krausse, with $20 million worth of personally owned securities as collateral, a commitment of $10 million was obtained from the First National City Bank of New York to form the company. During the first 90 days after incorporation last July, ERC acquired all of the stock of Delta Refining Co., Vitro Minerals Corp. and Graystone Drilling Co., plus a 30 per cent interest in Minas de al Cienega, S.A., holder of silver prospects in western Chihuahua, Mexico, according to the report to stockholders. EARTH RESOURCES HOOTER, AODERSOH CO. Dealer Broker MINING STOCKS MOhawk P.O. Box 847 4-44- 00 Colfax and Harding Counties. Texas: Uranium exploration Cripple Creek coal mine serving in the Fairway" of South Texas Fairbanks energy market. on 21,000 acres; large additional Colorado: Silver prospect: acreage being acquired. helicopter in the interior; near Silverton; uranium exploration on 60,000 acres in Las Animas County. Maine: Copper exploration, 26,000 acres, Brown Paper Co. lease. New Mexico: Copper prospect at Cuba; silver reconnaissance; uranium exploration in Grants Mineral Belt and 7 1,000 acres in Union, holdings and activities by states: 421 Sherman Ave. Dial MOhawk Alaska: Metals exploration by Utah: Uranium drilling continues 28,000 on silver prospects; acres of leases and claims. Wyoming: Uranium exploration on 45,000 acres in Powder River Basin, Shirley Basin and Gas Hills. EARTH RESOURCES officers are Charles J. Wyly Jr., chairman of the board; Dan M. Krausse, president and chief executive officer; Gene K. Ealy, vice president, uranium exploration; Robert J. Donachie, vice president, finance and administration, secretary-treasure- r. The company said that it now has nearly 7,000 shareholders in all 50 states, the District of Columbia and several foreign countries; in six months has seen a substantial reduction of debt, and shows earnings of 25 cents per share. 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