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Show OIL & MINING JOURNAL PAGE 4 AUGUST 31, 1970 Seaffoirth Mining to reactivate claims near Challis, Idaho This column has received so many requests for information about the tax benefits and investment opportunities available in Ike various drilling funds that today we will devote space to the most common questions with brief answers. Investing in the exploration for gas and oil offers an effective way for an investor in a high rax bracket ro pur their rax dollars to work. The cost of drilling is lOc deductible from taxable income. This means if you invest SI 0.000 you can deduct the entire amount and still maintain your investment. All production equipment is capitalized and depreciated. .4 substantial portion of income is free of tax through depletion allowances. In rexiew, then, if you invesr SlO.OOOyou can deduct the full SI 0,000 and as you get dividends from this investment there are more tax benefits. If you are the type of person who donates ro your church you can donate your entire investment a couple years later and deduct the 100 again. See your stock broker about available drilling funds or write this column and we will send you a prospectus. Please send a stamped envelope. Q. WHO AIA Y INVEST IX THESE PROGRAMS A. Anyone, Should oil be found all investors will profir. The programs are most beneficial to qualified investors whose income is subject to the 507c, or higher, rate of taxation. Investment serves as a method of efficiently using dollars otherwise lost as taxes and at the same time offers the potential of creating income. Q. WHA T WILL INVESTORS A CTOALL Y OWN? A. Each participant, in proportion to his original investment in the Program, owns a direct working interest in all leases acquired, all wells drilled, and all production developed. Q. HOW MANY EXPLORATORY WELLS WILL BE DRILLED? A. This depends on the amount of money invested into the ' program by investors. In order to spread the risk and conduct a balanced program of exploration, at least 10 wells will be drilled in different different states WILL LONG THE HOW PROGRAM CONTINUE? Q. A. There is no time limit. It will continue to exist so long as any of its wells are revenue producing. Q. HOW WILL INVESTORS BE PAID? A. An investor's share of the revenues from the sale of gas and oU will usually be paid monthly, but, under some circumstances, may be paid quarterly. Each payment check will show the total amount of production for each well, an investor's share of that production, the producing period covered by the payment and the amount paid. Q. WILL ASSISTANCE ON PREPARING TAX RETURNS BEPROVIDED? A. A complete tax statement and a sample tax return will be prepared annually for each investor by qualified Certified Public Accountants. self-address- ed tax-shelter- ed areas-freque- ntly Dear Mr. Blackburn: I am a system player and have read several books on systems at the gaming tables as well as horse races. Can you give me any tips .on systems in the stock market and my chances or possibilities on winning. Name withheld on request. Dear Sir: There was a study published in 1965 that sought to determine a hypothetical investor's chances of making a profit by choosing stocks at random during the period from 1926 to 1960. In other words, how you probably would have done if you exercised no judgement. If you had merely fired darts at the at stock pages of your newspaper to choose your stocks-a- nd calendars to determine when you bought and when you sold. At the Center for Research in Security Prices, Prof. Lawrence Fisher figured how you would have made out if you had bought every stock on the New York Stock Exchange at the end of every month from January, 1926, to December, 1960, reinvested dividends-an- d then sold the stock in each and every succeeding month. Take General Motors, for example. Dr. Fisher assumed that you bought GM in January of 1926 and sold in February, bought in January and sold in March, bought in January and sold... in every month right up through December of 1960-- a total of 419 combinations. Then the researchers went back and assumed you sold in March, sold in April, bough GM in February of 1926-a-nd sold in May, and so on through December, 1960. 35-ye- ar Continued on PageJ POCATELLO. Ida. Seaforth Mining Co. of Cleveland will be reactivating patented claims on Camas Creek near Giallis. Idaho, with a fluorspar mining and milling operation that will be second in size only to Asarco's proposed molybdenum mine in the Write Clouds area of Idaho. The mine will begin operations of October. The known as Meyers exact spot Cove which is about 12 miles upstream from the point where Camas Creek runs into the middle fork of the Salmon process milling procedure would require a tailings pond, the exact size of which is unknown. Fluorspar ore was once mined in the Challis extensively National Forest, and still is on a smaller scale. Fluorspar is a combination of calcium and fluorine principally. The two elements can be separated chemically. James E. Herndon, a Salmon attorney who is the son of the late 1966 Democratic candidate for governor of Idaho, Giarles Herndon. T. H. Eberle, a Boise attorney, is representative agent. Eberle said he is a legal representative and has no connection with policy. John McGurg is president of Seaforth. is River. The area is one of Idahos major salmon producing streams. Earlier reports had stated that the mine would be open pit, and Idaho State Game and Fish officials immediately stated that the mining operation would have definite effect on salmon and other fish. However, Andy Finn, district ranger in Salmon National Forest, stated that the mine was underground, and was a patented fluorspar claim on private land. He also stated that the Forest Service has surveyed an access ioad to the mine through national forest land. An earlier report that the mine would hire about 1 25 men was also later denied, saying that 50 men was more likely. Sandy Cuttings, operations manager, and a pilot crew were reported making the site ready THE SEAFORD RESEARCHER a investment review concentrating on low-pricsecurities and penny growth stocks. For a complimentary copy write: bi-wee- kly ed SEAFORD RESEARCH CORP. PX). Box II Secfovd.New York 1 1783 for mining operations by renovating old buildings. A dry AN EXCITING INSIDE STORY Steen eyes drilling of claims OF LAS VEGAS BY millionaire Charles Steen said last week he is drilling another hole on his new Utah uranium prospect because evidence up to now warrants such a move. Steen said cores from upper zones of the Kane County area definitely establish RENO-Urani- um 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. the presence of uranium although not commercial grade. He said the hole just completed proved that gamma ray kicks at three levels were caused by uranium-bearin- g deposits in the two shallower zones. Steen said his investigation of the property was first prompted by analysis of logs of abandoned A COMPLETE HISTORY . . . 1 6 PAGES OF PHOTOGRAPHS . . . HARD-COVE- LIBRARY QUALITY . . . R oil wells. A PRESTIGE He said tests showed weak mineralization in the first hole and added, We have uranium, theres no question. He said whether the uranium is of commercial grade will be determined in subsequent drillings. Steen said he is optimistic and is encouraged by the findings from the first hole. He last month announced he was 99 per cent sure of a rich, new strike that could be worth $600 million. about his prospects 3.95 UTAH SCENE PUBLISHING CO. P.0. Box 19243 Salt Lake City, Utah 84119 Please send me. factual expose' of king. LAS money order for $ NAME. His current claims arc about 150 miles from his original find which put him into the forefront in the early 1950s as a uranium POSSESSION... ADDRESS. CITY AND STATE. copies of your exciting and VEGAS. Inclosed is tny check or |