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Show JULY 13. 1970 OIL & MINING JOURNAL PAGE 5 Forest Service closes Peaks area g to equipment earth-movin- OGDEN, U.S. Utah-T- he management identify alternatives and Forest Service announces it has placed a closure on use of crawler tractors and other mechanized earth-movin- provide specific recommendations for future land management decisions for the area. They added the closure would not affect operations on any already established valid mining claim which is accessible to a road designated in the closure order or otherwise accessible to the claimant without crossing national forest land." Carlson said the action was in g equipment on national forest land within the White Cloud Peaks area in the Challis and Sawtooth National Forests. The closure action was taken and announced jointly by Forest Supervisor G. W. Carlson of the Challis National Forest and Supervisor E. A. Fournier of the Sawtooth National Forest. They said the closure would remain in effect until further notice. Carlson and Fournier the White Cloud Peaks area contained a wide variety of important resources and scenery of exceptionally high quality. They said Forest Service studies are underway to emphasized accord with the National Environmental Policy Act of 1969. Under the act, he said, the Forest Service was obligated to use all practicable means to prevent, eliminate or minimize damage to the natural of the national environment forest lands. This closure action G!0GDy is an J Continued from Page 4 that doesn't mean 'extra dividend but I didnt want to seem dumb so I told him I understood and then hung up the phone. Well, it still doesnt rest well with me. Do I deserve the dividend or not? Name withheld on request. Dear Sir: The symbol xd appears in the stock tables published by newspapers all over the country with probably more frequency it is probably the least understood. than any other symbol-a- nd A glance at the footnotes at the bottom of the stock talbe in turn, And shows that xd means means simply that the person who buys the stock of a company with xd after the name, on that day, is not entitled to receive a dividend about to be paid by the company. Sounds simple enough but lets go back a little way. Lets say with hundreds of thousands of other that you own shares-alo- ng XYZ Corp. The Board of Directors of XYZ meets and people-i- n votes to pay $1 a share on the companys 10,000,000 shares. The board also votes that the dividend will be payable March 29th to holders of record at the close of business on March 8th. The board, of course, has excellent reasons for setting these date gives the company precise dates. The March 8th cut-otime-fro- m March 9th to March 29th-- to accomplish the huge job of listing the specific people who are entitled to the dividend, preparing the dividend checks and mailing them out. On March 5th, though, you look at the stock tables and : discover that XYZ is followed by xd. But you ask, arent holders up to the close of business March 8th entitled to the dividend as the board said? Here s the answer: The New York Stock Exchange allows three . business days prior to the record date for the actual mechangics of delivering stock and transferring the stock certificates-- a job taken care of by your broker. So, to be a holder of record March 8th you would have had to buy XYZ on March 4th at the latest-t-he fourth business day prior to the March 8th record date. Investors who buy the stock on or after March 5th are not entitled to the dividend. Saturdays, Sundays and holidays when the Exchange is closed period. If the record are not included in computing the three-da- y date falls on a day when the Exchange is not open, the Exchange allows four business days prior to the record date for delivery and than date for stock dividends-rath-er transfer. The be computed on a different basis. cash dividends-ma- y the opening price may On the day the stock goes A stock which closed at dividend. be lower by the amount of the $1 a share $100 the previous day, and which went the next day, may trade at $99. This is regarded as no net change from the previous day. Subsequent changes will be based on $99, not $100. Cash trades, made up to and on the record date, entitle the purchaser to the dividend. Such transactions can be arranged by ff r . essential and practicable method to help ensure needed protection of the various resources values and the environment on national forest lands in the White Clouds until the studies now in progress can be completed, the announcement said. Classics field designated Continued from Page 1 to exemption, accordingRoss. to a Manhattan Transfer EBONY OIL rO. Vps Nov. II1C3 have. LEO July 23 thru August 22 Dont let yourself be into a booby-trappe- d moneymaking proposition you feel unsound. Let the others spend their money first. industry, are particularly bam Lb Vap sound to avoid temptations to spend what you dont net operation loss CLASSIC Box 4275. Keep budget basically deduction in case the loss for the year exceeds the investors other net income for that year. Participation programs, which are rapidly becoming more popular in the oil drilling YOUR MONEY appan wssfcly in th Rocky Mountain 09 ft Minini JonrnaL If yon SUN Things look uncertain now. well, he may claim each year a deduction for depletion based on 22 of the gross sales of oil or gas. If no oil or gas is found in the drilling operation, the entire investment expended may be claimed as a business loss, with probable use IftfDDQDIKSD'! Transfer Agents for: HI-- HO SILVER & GOLD build your profit by trading or start a new program of investment. Everyone is watching to see what your next step will be. For the most part, you will surprise them with a very meaty bone. SAGITTARIUS Nov. 23 thru Dec. 21 If was the only problem you had at this time, life would be a bed of VIRGO August 23 thru Sept. 22 . money roses. Don t let personal feelings ruin market opportunities. CANCER June 21 thru July 22 producing 359-551- 1 Ln There may be a slow down of earnings for a brief time. As you see the dip coming plan for the rainy days. In addition, in the event of a GO WITH A a May 21 thru June 20 depreciation. principally gas producers. it for all its GEMINI regulations related to five producingwells in Guernsey County, Ohio, at your foundation. Either worthwhile deal participation in an attractive to investors in higher income brackets due to the tax advantages. If response is favorable on the Schedule D exemption, Ross said, the company may also use the participation method for further development of its Ohio properties. Classic presently has Use worth to settle advantage of all favorable your broker. Rickard Mockborn. Youll find a little comedy entering your financial picture. Sept. 23 thru Oct. 22 Someone is chipping away SCORPIO Oct. 23 thru Nov. 22 TAURUS 21 thru May 20 April the individual nd i potion, mite Perhaps speculation is your best aspect in this period. Profit will be better defined after careful thought. program, each participant oil or gas well drilling operation may deduct the entire cost of intangible drilling expenses in the year the well is drilled. He may then claim a deduction for depreciation of the equipment placed in the well, taking as a LIBRA ARIES March 21 thru April 20 investor. Under By Merle Cox For the week of July 13th thru July 18th drilling program is more beneficial nd ITS FINANCIAL FORECAST company attorney Galen Mr. Ross said the company has been granted an exemption by the Securities and Exchange Commission to sell percentages of its next test in Section 36. Corporations and individuals are currently being contacted by the company for the Financing of the first well which is scheduled to be started prior to Sept. 25, 1970, according to the terms of the exemption. This is Classics first venture into a public oil participation program, Ross said, but we entered it mainly because we feel this method of financing a CAPRICORN Dec. 22 thru Jan. 19 Good faith is very eventual important for the gpod outcome of matters to your closest consideration. AQUARIUS Jan. 20 thru Feb. 18 People keep trying to reach ' you through, romance when their mind is on your pocketbook. Beware of false affection. . .PISCES Feb. 1 9 thru March 20 Money may be the Many money headaches will harrass you into doing fartherest thing from your mind in this period. Let someone you trust handle rather than desire to get financial problems. things out of bitterness ahead. Texas reports 13 oil wildcats in a week AUSTIN, Texas-Thirte- en wildcat gas wells, including 10 in the Houston and Corpus Christi districts, were drilled in Texas during the past week, the Railroad Commission reported. Six were in the Corpus Christi district, four in the Houston district; other wells were in the San Antonio No. 1 district, raising the total for the year to 313, or four fewer than at this date a year ago. The commission said eight wildcat oil wells were drilled during the past week, three in San Antonios No. 1 district. two each in the Corpus Christi and Kilgore districts and one in the San Antonio No. 2 district. That raised the yearly total to 189, or 17 more than a year ago. A total of 109 oil wells were completed during the week, raising the total for the year to 2,664, or 102 more than a year ago. Thirty-fou- r gas wells were completed for a yearly total of 1,005, or 273 fewer than a year ago. The commission said 202 wells were plugged during the week, including 63 dry holes. |