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Show June 23, 1969 OIL & MINING JOURNAL Page 4 traces Council Petroleum Sourdough Value of industry to Utah SeZ.... those old jokes about people getting lost All the in out-of-dat- We suppose the mark of a really successful man is that he receives so many honorary degrees he owns his own cap and gown. e. easy Pentagon are But it's still an building to mislay a few million dollars in. Too much The world having been turned over to the class of 1969, well wait and see how they handle those campus militants. education can be a dangerous thing. Just as an example, a poor kid might wake up some day and find out he is a The oil business is pumping thousands of jobs and millions of dollars annually into Utah's economy, a new study by the Utah Petroleum Council points out. R. A. Sovereign, chairman of the Petroleum Council, notes that more than 7,000 men and women work in the oil business in Utah and that their earnings approximate $33,000,000 annually. Taxes on motor fuels alone contribute more than $26 million to the state's economy, Sovereign reported. Pointing out that nearly one-fourt- of Utah s land area h been has leased for oil exploration, the report explains that Utahs 869 producing wells account for a greater annual barrels production (24 million annually) than that of Italy, Poland and France combined. Annual consumption of the major petroleum products of gasoline, kerosene, fuel oils and liquefied Utah petroleum totals gases in 972,280,000 gallons roughly 949 gallons for in every man, woman and child the state. The 415,540,000 gallons of motor gasoline consumed annually in Utah represents 957 gallons for every passenger car registered in the state, the repor The Council chairman then stated that it is considered fashionable in some circles these days to attack the petroleum industry" although it is one of the mainstays of the economy. Justifiable criticism is one thing if we rate it But it's important to keep in mind that economic body blows directed against the oil business will not only hurt oilmen theyll be felt throughout our whole economy, in Utah and in other parts of the country, Sovereign concluded. university president. A pessimist is a guy who expects to find bad news in a fortune cookie. There were disruptions at some commencement exercises. It's a dangerous trend when graduates 6tart listening to what the speaker says. In our affluent society, we are dying of diseases our grandparents couldn't even afford. The sea turtle is in danger of extinction. The nice thing about hearing about all these imperiled a proof species is that we don't have time to worry about indication A diploma may not be it's of education, but a pretty good of endurance. In the private sector, One good way to get a letter delivered is to carry it around in your pocket until the person it is to LOGAN The Utah State Land Board last week approved a royalty schedule on chloride and magnesium magnesium metal m order to lease with the National Lead Co. The National Lead Co., New York Gty, applied for the lease two years ago to extract magnesium from the Great Salt Lake. Final terms of the elase have been hampered by the disagreement over the royalty rate schedule of the metal. Charles R. Hansen, director, complete ourselves. addressed Land Board okays metal rate finally people tend to boast about how much money they make, but himility takes over when they are elected to public offic. telephones you. Scientists want to make sure that the astronauts don't bring any strange forms of life back from the moon. Mothers hope their little boys won't bring any back from camp, either. A drop in gambling revenue in Nevada is blamed on the weather. After years of worrying about the peaches, now well have to be disturbed over the frost nipping the sucker crop. a Division of Lands, said he will make public final terms of the lease with National Lead in a week. National Lead Co. has sought lease for 20,000 acres a 49-ye- ar of land on the shore of the Great Salt Lake. The land lies mostly in Tooele County. Hansen said National Lead also has an option on 20,000 more acres of land for the production of magnesium. The royalty rate will begin at one and a half per cent and advance to five per cent. The scale is based on a 20-ye- and Company, Albert E.Schwabacher Jr. has vice president of Blair & Co., been named to the board of San Francisco. Hewas senior directors of Toledo Mining Co., ner in Ie Investment Anthony G. Hatsis, president, Par has announced banking firm of Schwahacher & Air. achwabacher is senior Co. before its recent merger into magnesium metal. The bulk 384-299- 374-82S- the brine National Lead will process goes into the production of magnesium now used by the space industry. The company will convert magnesium metal from magnesium chloride derived from the brine. The Land Board also made provisions in the lease for royalties on all other salts produced by National Lead, Blair, Toledo Mining, headquartered in Salt Lake Gty, recently opened a San Francisco office. of the board, according to G Jay Parkinson. Edwards will move to the New York Gty office of the firm and will replaced in Salt Lake Gty by Scott M. Matheson Jr., now general attorney for the Union Pacific Railroad Co. in Salt Lake Gty. N Matheson will join Anaconda Aug. 1 as manager of the Salt INVEST WITH OUR MARKET SPECIALISTS 364-197- of Howard L. Edwards, assistant general counsel of the Anaconda Co. in Salt LakeGty, has been appointed assistant to the Inc. Salt Lake City 2000 Univ. Cub Bldg. 136 L South Temple Phone: 1 Provo Las Vegas 163 N. Univ. Ave. .1721 L Charleston Blvd. 7 Phone: Phone: 5 and Anaconda Co. advances law counsel INVESTMENT SECURITIES Members Salt Lake Stock Exchange OVER-THE-COUNT- on n chloride magnesium chairman Weston rate-per-to- Toledo Mining names director While some people are critical of the census, it must be said that, if we all are going to be in the same boat, we ought to have a passenger list. An unemployed friend was eased out at the executive level because he was so busy hanging up inspiring mottoes in his office that he neglected to get any work done. ar projection of LINK BELT SPEEDER SHOVELS AND CRANES WESTERN ROAD MACHINERY P. O. 2541 2300 AAii Salt LA City, Utah 14110 W. COMPANY IriNCfc OffiCBS: MO W. 1M St, Mata Fall, Mate Mil Maatan tot, liiw, Mato Lake legal department Prior to joining the Anaconda legal department in 1968, Edwards was a partner in the law firm of Van Cott, Bagley, Cornwall and McCarthy. He is a graduate of Brigham Young University and the George Washington University Law School. |