OCR Text |
Show JULY 20, 1970 OIL & MINING JOURNAL PAGE 3 AM AX and Forest Service swap recreation properties of Fifteen miles major fishing stream and many miles of smaller streams, 75 acres of lakes, ,, recreation key development sites, big game habitat, and domestic livestock range have been acquired for public use in Colorado. ' The transaction is an exchange of real estate between the Forest Service, and USDA, the American Metal Climas, Inc. (AMAX) National Forests in Colorado. In addition to Fishing waters and recreation lands formerly closed to general public use, the transaction includes about.4,000 y acres of big game winter range. Other tracts are valuable for livestock range or watershed production. Fifteen miles of road will be acquired on which there is presently no public high-qualit- right-of-wa- The total exchange includes 8,960 acres of National Forest lands which AMAX needs for its Henderson molybdenum mining operation on Arapaho National Forest. In exchange, the Forest Service acquired title from AMAX to 8,615 acres located in 15 different tracts on eight y. The lands acquired by the Forest Service will be developed to the benefit of recreation, wildlife, livestock, timber and water production, Deputy Forester Basil Crane Regional said. cited the Crane following dlty)dkDl), choice properties particularly acquired from AM AX: Four miles of fishing stream on Williams Fork river; a stream and a lake in Giicago Lake;s area on Mount Evans in Arapaho National Forest; 34 miles of fishing on Embargo Creek in a 280-acrtrack on Rio Grande National Forest; 2 12 miles of fishing stream and elk winter range on Lone Pine Creek within a 1,913 acre parcel; one mile of the Pbudre River plus recreation development land; 2 34 miles of fishing on the Laramie River on Roosevelt National Forest; and both Luna and Margaret Lakes, totaling 68 surface acres, next to Mount Zirkel Wilderness in Routt National Forest. ng established a record high in oil and gas drilling last year, . according to information released by the U. S. Department of Interior's Geological Survey. Much of the drilling was on public lands. Drilling on public lands resulted in $13.9 million in royalties to the state for use in education and road construction and maintenance, according to the report. The report also pointed out oil and gas companies invested a record $125 million for drilling oil and gas test wells in the state last year. Russell G. Wayland, chief of lands, said 878 of the 1,627 new wells started in Wyoming during 1969 were on public land leases. expensive to more than $2 million for the most expensive,' he noted. Of the 711 oil wells which During the decade of the were successfully completed, 1 960s, drilling for oil and gas on 380 were located on public land public land leases in Wyoming and 3 5 of the 49 wells completed in gas zones in the state were on public land. Cost of drilling these wells ranged from about $10,000 for the least has steadily increased. Nearly a three-fol- d increase occurred during the decade, with 316 new wells started in 1960 compared to 878 in 1969. AN EXCITING INSIDE STORY OF the survey's Conservation Division which supervises mineral operations LAS VEGAS on public Brokors, Undorvrritors. fi Mining Companion Wo Understand Your tJooda it Printing & Mailing facilities for Shareholder Reports BY 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 . . . 1 6 PAGES OF PHOTOGRAPHS . . . LIBRARY QUALITY . A PRESTIGE POSSESSION . . . HARD-COVE- R 3.95 Stock Certificates Buy, Sell Orders, Etc. UTAH SCENE PUBLISHING e. CO. P.0. Box 19243 Salt Lake City, Utah 84119 PRINTING & LITHO 47 SOUTH 1700 eg WEST Please send me copies of your exciting and factual expose' of LAS VEGAS. Inclosed is my check or money order for $ NAME. ADDRESS. 487-07- 68 By Chuck Hayward Arizona could quite possibly become the first state in the United States to sponsor a sweepstakes comparable to the famed Irish Sweepstakes. An amendment to the State Constitution has been officially placed on the November ballot by the Secretary of State which would authorize the Arizona Sweepstakes Corp. to operate a sweepstakes on behalf of the state. We received a letter recently from Robert W. Wilson, president of National Sweepstakes Corporation. The letterhead listed addresses in Salt Lake City and Arcadia, Calif. The letter read: It is a great pleasure to announce that we have filed our signatures with the Secretary of State of Arizona, and have been officially placed in sixth position as Proposition 105 on the November, 1970 ballot Expressions of opinion on the measure were recently invited by Channel 10 TV of Phoenix. Approximately 30 people responded and a significant majority of those responding expressed themselves in favor of the Sweepstakes. Of course, this fragmentary information should not be construed as an indication of sufficient statewide support of the measure to insure its passage in November, and we recognize the fact that many people sign such petitions just to bring the issue before the voting public even though they themselves are not in favor of whatever measure is being proposed. If the measure is passed by the voters, the profits to the State of Arizona are earmarked for education and reduction of property taxes. Patterned after the famous Irish Sweepstakes, Arizona would have the only sweepstakes of its kind based upon a hone race in the United States, although a few states hove state lotteries. 'The proposition as drafted, provides that Arizona subsidiary of National Sweepstakes Corp., a wholly-owne- d the Sweepstakes Corp., right to operate the sweepstakes under the supervision of the State Racing Commission for the first 10 years. The Company has no assurance of being term. able to obtain a renewal at the end of the is of or no 'There predicting accurately projecting way the volume of ticket sales on the profits, if any, to the Company in the event the measure becomes law because it is a new venture in the United States with no previous experience in Arizona or in the United States with which to compare it" The letter (addressed to shareholders) also refers to a card casino in California which the company had divested itself of in order to concentrate on the Arizona campaign. Well, we thought the proposition might be of interest to our readers, who have certainly proven themselves to be of sporting blood." 10-ye- Prospectuses Financial Statements (Htfe few e Wyoming steps up activity WASHINGTON-Wyomi- sa or 298-37- 03 CITY AND STATE. ar T ogether they may have lost an estimated $300 billion in the value of their securities during the past 18 months but the 30 million Americans who own stocks remain overwhelmingly optimistic." That was the message of Donald T. Regan, president of Merrill Lynch, Pierce, Fenner & Smith, before the Joint Congressional Economic Committee which conducted hearings on the state of the stock market and the economy early in July. Regan told the committee that from January to June, small investors were flocking into the market, buying more than they were selling and displaying a long, strong backbone of confidence in this country." "The confidence of which I am speaking, surprisingly enough, showed itslef most strongly in the first few months of 1970...in the very period when the experts were most depressed, many investors in America were quite the opposite. 'They simply called us up, or walked in. They know a little about stocks and bonds, but not very much. About 35 per cent of them were making the first investment of their lives in the securities market" believe that we had a rather heartening of confidence from the Heartland." demonstration "I do not mean to go too far with this thesis," Regan added. Investors are not happy right now. They never are when values decline." "So, in sum, I |