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Show Page 098 V001? GfflDQ7 'RICHARD BLACKBURN Dear Mr. Blackburn: T' St' I A MARCH 9, 1970 OIL & MINING JOURNAL 6 Would you please explain Gross National Product that I read about so much? Thanks in advance. Name withheld on request. Dear Sir: The Gross National Product, or GNP, is an estimate of the market value of all goods and services producted by the economy. The data, prepared by the Department of Commerce, is available quarterly. Essentially, GNP is simply a single figure which sums up the rate at which the economy has been producing during a given period. It reflects spending on new houses, new manufacturing plants; on haircuts and clothing; on automobiles and airline tickets. In fact, with a few exceptions such as gifts and illegal activities, is summarizes the results of the efforts of all of us as we go about our days work. These include the money that individuals spend on such items as food, clothing, medical expenses and household operation. In recent years spending for these items has tended to rise steadily from year to year, reflecting the increase in consumer income and population growth. In contrast, spending for new buildings, new homes, now equipment in manufacturing plants and similar investment items has been somewhat volatile in past years. A third major sector includes all the items that the government activities, plut payrolls. buys for defense and for thatFederal the with is government fact familiar Everyone in recent been years. Less well rising steadily expenditures have known is that the spending of state and local governments for the services they provide has been growing at a faster rate than Federal spending. non-defen- se seen answer for dwindling gas supply A-tes- ts COLORADO SPRINGS, Colo. The Atomic Energy Commission's Plowshare most oil companies are spending their exploration funds in places that are too far away for the program offers the greatest hope practical transportation of for .increasing the supply of the natural gas to mainland America. He cited foreign countries, much-neede- d natural gas in the United States, the president of offshore and Alaska as examples. Leisk reviewed Project Austral Oil Co. says. Austral is the industrial Rulison, the nuclear detonation a of last September, and said: sponsor of Project Rulison One of the most logical nuclear stimulation solutions to the problem of gas test of tight gas sands in western Colorado. And Plowshare shortage is thorugh nuclear stimulation of tight gas includes Project Rulison. reservoirs. Addressing the 65th annual If this technique proves convention of teh Midwest Gas Association here, C.W. Leisk said economically successful, as we 40-kilot- on . far as commissions are concerned there is no difference. Commission rates are the same. As far as individual service is concerned, that depends on the individuals concerned. If you find a broker who can give you good service, it doesn ft matter if he is part of a big firm or a small one. As far as research is concerned, the big firms spend a great deal of money attempting to find the right stock for your. 1969 was the year that tested their ability and almost all of them failed. I know a fimr that recommended AITS at $90.00 a share (a New York Stock Exchange Member Firm) that after their printed recommendation sheet was sent out promptly went to $10.00 a share before the year was out. That is not to say that some of the small firms didnt have their troubles too. They did. Investing has its risks. Probably the biggest disadvantage the large firms have is their size. They lose flexibility because of the need for strict controls and confining company policy. A small firm can move quickly in many directions and allows for better service between barker and client. Brokers like this, of course. They also like the fact that the samll firms split the commisssion better for the broker but unchanged for commissions the client. At the large firms with their big over-heahas been many There the must be split to the advantage of firm. news stories out of Wall Street on 'this topic of late. Many New York Member firms have lost salesmen because of the squeeze. Leisk claims. He said he is convinced that SPOKANE Consolidated Inspiration inexpensive Copper Co. collector-reage- nt offers the option of has and the industry-wid- e strike which ended late in March of that year. IL Miles Jacob, Inspiration president, in a letter to stockholders, said that dollar sales of copper amounted to $60.4 million and were the highest in the companys history. In 1968 sales amounted to $37 million. Capital expenditures were $9,368,000 in 1969 and $9,025,000 in 1968. Dividend payments last year totaled under license. TRAVEL CLUB 1969 were $3,898,000, or $1.62 $2,558,000, or $1.07 per share, for the same period of 1968. dramatic step in minimizing smelter emissions, said Jacob. When ready for commercial application, the process will be offered to other companies PASSPORTAIR Fourth quarter earnings for per share, compared to Successful development for large scale application could be a Departing Salt Lake City Flying Direct In Our Own Club Airliner To Many Exciting Places This Year I ROUND TRIP d, This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made only by the Offering Grcular. NEW ISSUE COZUMEL JAMAICA MEXICO CITY VEGAS SAN FRAN. MAIATLAN PUERTO VALLARTA FEB. 27 MARCH MAY MAY A JUNE JUNE THIS SUMMER ALASKA CANADA Par Value $ .25) Kings River Mineral Company - OFFERING PRICE $3.00 Per Share Copies of the offering circular may be obtained from the undersigned only in states where the Undersigned may legally offer these securities in compliance with the securities laws thereof. BONNEVILLE SECURITIES, INC. 601 Kearns Bldg. Salt Lake City, Utah (801) 322 - 3515 nt TAHOE Colo., which retains half interest. Laboratory work with the process indicates that it may have the capability of almost totally removing the sulphur dioxide from smelter stack emissions, he said. The mini-plawill be located at the Inspiration smelter at Miami, Ariz., and will serve for nt and designing testing scale development for a. larger pilot plant. The process employs an AL(; HOTEL & GROUND TRANSFERS ARRANGED IF DESIRED. NEXT VACATION GO BY AIR HAVE MORE TIME THERE REDUCED RATES FOR CHILDREN SOUNDS HARD TO BELIEVE ON YOUR CLUB. PLEASE SEND ME INFO. NAME ADDRESS ZIP PHONE PASSPORT AIR BOX WE FLY EVER YWN ARE 2262 PH. 359-860- 3 26 APRIL APRIL APRIL VANCOUVER Jacob also announced plans to in a new acquire a process for removing sulphur dioxide from stack emissions as it applies to the smelting industry and to construct a mini-plato test the process. He said the process was developed by Golden Cycle Corp. of Colorado Springs, 139.00 169.00 195.00 119.00 29.50 39.00 99.00 119.00 ACAPULCO $7,676,000, or $3.20 per share, compared to $5,046,000, or $2.10 per share in 1968. For the first quarter of 1970, Inspirations board of directors has declared a regular dividend of 75 cents per share on outstanding shares of common stock payable March 9 to shareholders of record Feb. 16. half-intere- st (70,000 Shares if sustained high rates of gas flow are obtained, the technology that put man on the moon can produce gas from nuclear stimulation wells that will be safe for use by industry and the ultimate consumer. Inspiration Consolidated sees income double reported an estimated net producing a strong gas for income of $13,432,000, or manufacture of sulphuric acid or Dear Mr. Blackburn: $5.60 per share, for the year the creation of a readily Dec. 31, 1969. disposable inert waste out of the Is there any difference between dealing with a broker who is a ended dioxide where sulphuric member of the New York Stock Exchange and one that is not? J. R. This compares with sulphur acid production is uneconomic. Parker $5,691,000, or $237 per share, in 1968, which reflected a loss in Dear Mr. Parker: the first quarter resulting from As expect, he added, then it could develop an additional 317 trillion cubic feet of gas that would more than double the nations proven reserves. Natural gas can be the nations greatest asset in solving the problem of air pollution, -- |