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Show JULY 13( 1970 OIL & MINING JOURNAL PAGE 3 U.S. gold, silver production, reported for April export-impo- rt tic WASHINGTON-Dom- es mine output of gold was down about 4.S percent in April while silver mine production was up slightly during the same month,-accordinto a mineral industry survey issued recently by the Department of the Interior in their Gold and Silver Monthly Bulletin. :: Both exports and imports of gold were down and monetary stocks also decreased slightly compared with the previous said. Out put month, the report : the first four months of in increased slightly over the same period in 1969. Gold imports continued to exceed exports widely in April. Net imports for the first four months totaled almost 1.5 million ounces compared with over 1.8 million ounces in the same period in 1969. U.S. gold stocks, including gold in the Exchange Stabilization Fund, dropped $1 to $11,902 million, the report continued. This official settlement's balance was at the third highest level since January 1968. One year earlier the gold stock was $10,936 million. U.S. short term liabilities to all foreigners as reported by all U.S. banks at the end of March was $41,200 million. This liquidity balance, the report says, which is payable in dollars potentially convertible to gold, was $32,457 million in March 1969. ' The daily selling price of gold reported by Engelhard Industries trended upward during April increasing from $35.75 an ounce at the end of March to $3630 per ounce at month end. The London daily market price averaged $35.62 with sterling exchange at an average of 240.615 cents. million Brokors. Undorv thorn, Q Mining Componioa Wo Understand Your floods II PriMinf a Matting facilities for The Office of Domestic Gold and Silver Operations (Treasury Department) estimated that U.S. net industrial use of gold in 1969 increased 7.6 per cent over the previous year to 7,109 million ounces. On May 15 the Treasury Department announced that the United States sold $20 million in Special Drawing Rights (SDR) equally divided between Belgium and the Netherlands This was the first use of SDR by the U.S. and as of May 15 it held $915 million in SDR. The IMF Reported' no gold purchases from South Africa in April since gold prices were over $35. The United Kingdom reported that its gold and currency-convertibl- e reserves rose in April by million to $2.76 billion. $50.4 This was the eighth consecutive monthly increase and the new level was up $350 million from one year ago. For silver, mine production in April increased slightly , the total l output 17 per cent about increasing January-Apri- over the same 1969 period. from Canada were 14.85 million ounces, up 22 per cent over the same period in 1969. The New York Handy and Harmon silver price in cents per ounces declined slightly over the month from about the 188.0 level and then dropped severely from somewhat on April 27-3- 0 over 185.00 down to about 171.00. Reaction to the Cambodian situation combined with growing concern over inflation and stock market plummeting may have interacted to cause the drop. GSA sales in April were about 6,065 thousand fine ounces at prices ranging from $1.7729 to $1.8712 in coin silver 897-90- 0 fine. January-Apr- imports il Closing prices on the Commodity Exchange (COMEX) in cents per ounce at month-en- d were 173.20, and 170.40, 176.30 for spot May, July and September 1970 delivery. sales totaled 499.7 million ounces in April compared with 426.0 million in March. Stocks at COMEX were up 1.9 million to 117.2 million COMEX -- Imports continued to exceed imports for the second month in ounces at month-end- . a row. With April imports of The Bureau of the Mint 5.94 million ounces and exports reported a total Treasury of 1.10 million ounces, the net inventory of silver coin and for buillion of 77.2 ounces on April position was 7.41 million 30. Of this total 16.0 million January-Aprounces compared to 0.65 million ounces of silver bullion contains ounces net exports in the first gold and base metals and must import il four months of 1969. be refined before being sold. DICK TAYLOR and PAT HOWELL Published by Naylor Publishing Co. San Antonio, Texas For the first time the true behind the scenes story is available to the public. This true story is written by authors who are well versed in the lurid background of the area. They cover all phases of Las Vegas and the people who operate the Gambling Halls. A COMPLETE HISTORY . . . 16 PAGES OF PHOTOGRAPHS . . . SharolioMir Reports HARD-COVE- PProspectusss R LIBRARY QUALITY . . A PRESTIGE POSSESSION i Financial Statements ... Stock Certificates O Boy,. Sell Orders, chuckin u few By Chuck Hayward Representatives of management of Computer Systems Management, Inc., were in Salt Lake City from Dallas last week, which normally wouldn't have even come to our attention, except for the fact that CSM was formerly known as Crown Reserve Mines, organized as a Nevada corporation in January, 1969. In January, 1970, Crown Reserve merged with Computer and Systems Resource Management, Inc., a Texas corporation. Under the terms of the merger, the 137,800 shares of common stock of Computer and Systems Resource Management were exchanged for 1,033,550 shares of the company's capital stock at a ratio of 7.5 shares of the company's stock for each outstanding share of Computer and Systems Resource Managment stock. The 1,033,550 shares were issued as investment stock. The name of the company was changed to Computer Systems Management During an informal gathering at the Ambassador Club, Allen Everest, chairman of the board, sketched developments in the company over the past six months and plans for the future. The company provides consulting and other services designed to assist client companies to "obtain the maximum potential from their computer and data processing systems. Such services are grouped in three divisions: computer education, which conducts seminars and training courses on computer programming; systems software, whose function is to design computer and data processing systems and utilization techniques; and facilities management, which provides financial control systems for computer centers and data processing equipment selection and facilities studies on a consulting basis. Accompanying was Pat Morgan , a well known music industry executive who' is scheduled to head up CSM's latest division Pompeii Records. The company produces popular and specialty record;, newest of which is 'The Breast of Soul," Morgan said. Some of the specialty records, such as one for an airline on record for Penn State University, Hawaii, and a fund-raisin- g generated considerable interest and are "very profitable," according to Everest But the speaker who was of most interest to us was Clinton C. Jenkins, former president of Crown Reserve Mines, a mining man and head of CSM's mining division. Mr. Jenkins reported on the company's properties near Monticello, Nevada, where the company has shipped two ores to the smelter to ascertain railroad cars of silver-lea- d whether the spot assays of $50 per ton values would hold up in production. "We're very encouraged over this property," Jenkins told the group. "But we're going to check it out before making a decision on expansion of well-qualifi- ed production." Jenkins said geochemical tests of anomalies on its properties near Park City, Utah, indicate "a high likelihood of commercial' mineralization at depth." He said further testing and evaluation will be conducted with the eventual goal of leasing the claims to a larger mining company to place in production. ASARCO has expressed an interest in the area, he said. Etc. UTAH SCENE PUBLISHING CO. P.0. Box 19243 tL 9U V PRINTING &LITHO 9S79 OOUTM 1700 WEST Salt Lake City, Utah 84119 Please send me copies of your exciting and factual expose' of LAS VEGAS. Inclosed is my check or money order for $ NAME. SILVER MINING STOCKS have profit potential RANGE 4c TO $40 PER SHARE We specialise in silver, gold end uranium slocks and selective penny mining slocks. We accept collect calls on buy orders. J. ADDRESS. W. 412 CITY AND STATE. H. DILLON Spr.,.., Sp.lt.nt, Was. & CO. 41201, T.I. 131-441- Member Spokane Stock Exchange 0 |