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Show Page 4 OIL & MINING JOURNAL cISnpsIknDn few By Chuck Hayward We received rather a shock today. It canie in the form of a phone call from a polite individual who informed us he was suing an investment broker because the broker had misrepresented a stock to him. He then proceeded to point out that the misrepresentation was included in an article which appeared in the Oil & Mining Journal. The article was a Page One story in the August. 18 issue dealing with a joint venture a Salt Lake agreement between City geological survey company, and KLM Aerocart, a subsidiary of the Royal Dutch Airlines. Geo-Updat- e, In the article we stated that Geo-Upda- te ROSENHAN CRAWLING TANK sits in a Murray, Utah, field awaiting shipment to Colorado uranium property of East Antelope Corporation. Tlie continuous belt leacning mill was built at a cost of $50,000. Inventor is Armin Rosenhan, chief metallurgist for East Antelope. was a e vs? s duo subsidiary of OMNICO, Inc., information we had every reason to believe was correct since we obtained the news release from principals of ooo do Geo-Updat- e. Our caller informed us, however, that he had was not and never had proof that been a subsidiary of OMNICO. He was suing his Geo-Upda- broker, te he said, because the broker misrepresented the assets of OMNICO and he had purchased the OMNICO stock on the basis of the misrepresentation. Well be watching the progress of this lawsuit with interest, since we, being in the information business, have from time to time passed on information which we had reason to believe was true but which later turned out to be untrue, or at least not completely true. We try to correct any errors as we discover them, but we are quick to admit that we are human and therefore fallible. We make mistakes. ird DDfiDQ)jD( MURRAY, Utah--- 09 DO 7 unveiling of East Antelope A corporation which has been the subject of several Oil & Mining Journal articles in the past was the object of much news media interest last week. Covered by two television stations, the DESERET NEWS and a radio station, was the Corporations huge Continuous Belt Leaching Mill. . . Dubbed the Rosenhan Crawling Tank by its inventor, Armin Rosenhan, Midvale, Utah, chief metallurgist for East Antelope, the $50,000 mill will SD7? S BdSp Star-Queen- copper-tungste- n BETTER SERVICE consideration, or is the broker supposed to be omniscent and omnipotent? We'll see. BETTER SERV BETTER SER Cases such as this, incidentally, are the reason we carry a statement in the masthead on Page BETTER SE Two of the Journal to the effect that: "Articles and information contained herein are true and factual to the best knowledge of the publisher. Information and opinions published are the sole responsibility of the publisher and do not reflect the attitudes or opinions of the merchants, brokers, corporations and service firms who advertise herein or otherwise sponsor this publication." take responsibility for the things that appear in the Journal. We try hard not to supply erroneous information. But we recognize that we can and do make mistakes. If you catch us in a mistake please tell us so we can correct it. We do promise that we will not print information we know to be false in order to profit ourselves, our friends or our associates. We BETTER S BETTER .r 'i i property in western Utah was commenced earlier this month. Jot A. Foster, president, said the first shipment of tungsten concentrates was shipped to the d tungsten mill at Gold Hill, Utah, on October 20. The mills present capacity is 10 tons of Lungsten ore per day. Zt . the Stocks market Mutual Funds OTC & 210 Kearns Bldg., SLC, these Utah 521-35- 62 And Complete Facilities in Ogden 2476 Washington Blvd. 399-556- 6 09 ) be used for processing low grade ores. Carl D. Powers, president, told the small army of newsmen and interested persons on hand for the .unveiling that the first model will be moved to the companys uranium property at (Continued Page 8) add a capacitypi tatand ion flotation I ead-prec- i -- circuit to recover important oxide and sulfide copper, plus silver and gold. The ore, which was a gross value of approximately $70 per ton, has been found from the surface to a depth oT 100 feet, and apparently is continuing at depth. Additional exploration of the property has begun. Foster said arrangements for the sale of the tungsten Plans are underway to concentrates have been made substantially increase the milling with Union Carbide Corp. E80 (o)QttDn) for raising the depletion allowance on precious metals. , Offering Service in SAID ' it . vi FOSTER shipments climax several yearf ol determined exploration and research by the company. Rep. A1 Ullman, Oregon, a member of the House Ways and Means Committee, sees a need 5 - - iV V D e09 .newly-rehabilitate- We're sure that brokers are also human, and fallible. We wonder if the law takes that into D 0DOqjGUDO SALT LAKE CITY-Min- ing iind milling operations on Silver s Mines' Yellow Hammer D ARE YOU TIRED OF HOLDING PROMISING PROPERTIES? Aggressive new corporation will assume risk, do active development and begin production. Send description to JS Consultants P.0. Box 5316 Oxnard, Calif. 93030 Rep. Ullman, speaking at the American Mining Congress in San Francisco, said the need to encourage, domestic development of the precious metals extraction industry and ensure our position in the world market, make it essential to raise the depletion allowance on gold and silver to the highest level. Ullman said he still had hopes saving his proposal that municipal bonds be left tax exempt but that municipalities be given the option of issuing taxable bonds supported by federal subsidies. of |