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Show IT VMH RHHET Toledo Mining Dominicanas elects president silver properties LAS VEGAS RICHARD BLACKBURN Dear Mr. Blackburn: I feel so helpless and yet so unhappy that I am writing you to ask what I can do. Who can I write to express my feelings about my losses in the stockmarket. Name withheld on request. A in the prominent Dominican Republic which cover approximately 140.000 acres. Meier served as a special advisor to Toledo's management while the company was negotiating for the properties, llatsis said. Meier also serves as president Ncvudan. John II. Meier, has been elected president of Toledo Mining Dominicanas. C. por A., u Dominican Republic subsidiary of Toledo Mining Co.. according to a recent announcement. In making the announcement. Anthony G. ILitsis. president of of the the parent company, cited mining, and the scientific community Dear Madame: of Western Union 's special any wires sent to your elected You might want to take advantage "public opinion message" rate for officials in Washington DC. If the President andor your senators were flooded with protests, there might he come action taken. Vie special rate is $1 for 15 words. Dear Mr. Blackburn: I have 10,000 shares of El Dorado Mining Co. The company took my shares and gave me 1 .000 shares of Apollo Industries. Today I found in the paper that Apollo Industries sells for S4 a share on the American Stock Exchange. I would like to know if it is the same company. Very truly yours. Leo, Petal uma. Calif. as "invaluable to the program of exploration and development planned in the Dominican Republic." Sorry. No relationship between your stock which trades in the pennv market and that AMEX listed security. Dear Mr. Blackburn: In your May 1 7 column you responded to a question regarding the possible tax disadvantage of holding property in joint tenancy. Doesn't the possibility of a tax advantage exist if the estate tax (assuming an estate large enough to be taxable) is less than the capital gains tax would be had the property in question not been included in the estate? Also, could there be a situation in which the estate tax would be less because, as 1 understand, to the extent that the joint tenancy property does not get a in the estate? stepped-u- p basis, it is not taxable where he was the executive aide to industrialist Howard Hughes. In that capacity he was responsible for acquiring more than 1,600 mining claims in Nevada. Toledo recently obtained contracts for exploration on three major copper, gold, and Five major firms have relinquished their dawsonite Richfield, 114; Marathon Oil, 43; Cameron Engineers of Denver, 31; Pan American claims in the Piccancc Creek Basin oil shale area of Petroleum, 6; and Hie CXI Shale Corp, 4. The Interior Dept. viewed the relinquishment as a major stepping stone to clearing away Interior Dept. has reported. The claims. 198 in number, involve 26,536' acres in Rio Blanco County. The companies and the individual number of claims involved are: Atlantic - maze of legal matters which have in large part hindered oil shale development. the complex Dear Sir: You are on the right track. But, as you can imagine, this colunvi cannot possibly go into all the possibilities. Each case stands alone and must be considered by a trained tax lawyer. And each case should be reviewed periodically. A will or trust made five years ago may not be the riglit vehicle today. south of Carson City, announced by Charles Branstetter, president CARSON CITY, Nev. The purchase of all of the assets of Terex Corp., located in the state of Nevada, including the Veta Grande mine and mill, 30 miles was H. and general manager of Standard Resources. Inc. NOTICE to the shareholders of BIG INDIAN URANIUM CORPORATION: Please take notice that the Annual Meeting of Shareholders of Big Indian Uranium Corporation will be held at 8:00 P.M., June 15, 1970, at the Doll House 151 8 South Main, Salt Lake City, Utah. The transfer books of the Corporation will not be closed but only stockholders of record at the close of business on June 4, 1970, will be entitled to vote at the meeting. Shareholders desiring information are advised to visit our new offices at 918 Kearrre Building, Salt Lake City. Dear Mr. Blackburn: Your answer to the question about disadvantages of By was very interesting. A friend tells me there are "cemetery bonds" that have big tox advantages. He didn't explain it very well. Can you help? J.R. Order of the Board of Directors Milton S. Rindskoff, President y Smith Dear Mr. Smith: Jlie term "cemetery bond" is only a nickname for certain bonds that elderly peoply buy for certain purposes. Time bonds are usually sold at a discount. Tliat is to say, a $1,000 bond often costs less than $750. And they pay a good dividend. that the federal government will the accept them at full face value in payment of estate taxes. If owner dies before maturity, they will be figured at full value regardless tax-wis- e, M. Environmental Nixon's Advisory Committee and was recently honored by President Joaquin Balagucr of the Dominican Republic with the Christopher Columbus Award for his many ecological accomplishments. In addition to its interests in the Dominican Republic, Toledo Mining of Salt Lake and San Francisco has approximately 300 square miles of natural resources in the United States and is negotiating for additional natural resources in Latin America as well as other properties in the U.S., Hatsis said. Al However, Leonard, coordinator in Denver of BLM efforts to clear title to oil shale lands, said not all of the 26,536 acres of relinquished claims have been cleared legally, since others claim the acreage as well. Leonard said 4,235 additional dawsonite claims have yet to be cleared in Rio Blanco County and other Colorado counties. Stnd Resources buys mine, mill p withheld The advantage, to President Richard Firms waive dawsonite claims lf joint-tenanc- Meier is a special consultant The transaction, which w?s for .cash and stock totaling approximately $700,000, will make Standard Resources the largest single volume producer of silica sands in the sized western United States, according to Branstetter. The Veta brande mine and mill property consists of one patented mining claim, 86 lode claims, a modern 400 tpd three-stag- e crushing plant, 200 flotation plant, sulfide tpd trucks, tractors, loaders and mining equipment. hi-puri- ty If community property is converted into joint tenancy of that joint tenancy property, then would only one-haproperty be taxed in the decedent's estate? Is this the case where basis? Name of the property gets a stepped-uonly lf Operations, Hughes-Neva- da northwestern Colorado, the U.S. Dear Leo: Nevada non-prof- it Environmental Foundation, with headquarters in Las Vegas. Previously he was affiliated with Meier's extensive background in business, one-ha- JUNE 8 1970 OIL & MINING JOURNAL PAGE 4 is of cost. For more detailed information phone your broker and ask him for examples of what are available right now. ClC Securities, Inc. Proudly announces the opening of its at 67 South State Markets Specialists in Dear Mr. Blackburn: My insurance salesman tells me that dividends on my insurance policy are just as good as dividends on a mutual fund, plus a mutual fund is not guaranteed so he recommends that 1 dortt invest in the mutual fund. Is it true? Mike Turner. Continued on Page 5 Phone: (801) C operation by early 1971, producing concentrates and gold-silve- r sized silica sands for Pacific Coast Standard Resources is also the owner-operat- hi-puri- ty or of the Sand Plant at Marina, Calif., overlooking Monterey Bay, having purchased the land and plant from Bradley, Inc.', a Nevada corporation, for a total purchase price of $125,000. The plant has been in operation for several years, producing sized washed beach sand from the Pacific Oean for sandblasting. Marina A IflfniTODIKSD-- ! Manhattan Transfer 359-551- 1 Transfer Agents for: 521-781- 0 .CLASSIC EBONY OIL TWX: 910-925-525- HI-- H0 1 ! !: ' iVVVVVtViVV','l will complete the silica sand sizing plant and put the property into GO WITH Salt Lake City Branch O-T-- Resources Standard SILVER & GOLD |