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Show salt lack ZTBBABT fJJfTf'ZWT'CT OV VTAi DEC2 6 1547 (par w. pat 1M. COrrEB GOLD (fit m) SILVEB LEAD, -- gXLT JUJVt-O&- CtNO r HUi I MB M.Ha 849180 alOaOO 1001 Salt Lake City, Utah, August 29, 1947 One Year $2.50 Government, Industry Problems Slated for Discussion at El Paso Utah Firm Interests Mining properties controlled by Madison Mines Company located in Dry Canyon, Ophir Mining District, Utah, have been worked continuously by lessees during the past 12 month period, according to information released by the company today. Royalties obtained from these operations have been applied on purchase price of the property. . m Bliiil Features Mining, Oil, Financial VOL. 18,. NO 32. Oil mm iheltu raices i The company is now preparing information which will be submitted to the Salt Lake Stock Exchange in applying for listing of the firms stock. It is rethat the tJ. S. Bureau of ported has selected the Ophir district property for a peri of diamond drill explora-lo- n. 12-mo- nth WASHINGTON, D. C., August 29 Deterrents to mining enterprise that must be removed, and policies that must be adopted by the Government and by the industry to assure continued efficient operation of the nations metal and mines and development of ore reserves for the future will be fully discussed by over 1000 mining men when they meet at El Paso, at sessions of the annual metal mining Texas, October 27-2- 9 Convention of the American Mining Congress. The program for the meeting has been developed by an industry-wide committee, headed by Donald H. McLaughlin, president of the Homestake Mining Company, San Francisco, Calif. Subjects Listed Prominent among the subjects to be considered are: EncourageAS RICH SURFACE OREBODIES have become depleted, ment to exploration, discovery mininr companies are finding it necessary to go to substantial Without govJOPLIN, Mo. and development, by private enes depths in order to maintain production levels. Not only are of new and ernment assistance terprise, premium mining costs increased proportionately but in many of the additional reserves; tax, tariff, payments and tariff protection western mining districts water has become a major problem. stockpiling and public land poli- the Tristate Modern pumping equipment, however, as shown in the above mining industry, has cies of the Federal Government readjustment. as they affect mining; industrial begun difficult photo, has played an importiuit role in overcoming the water and lead concentrate shiprelations and labor legislation; Zinc handicap. ment values of the Joplin district problems of attracting and hold- last week to $110,016 ing skilled manpower; safety for blende amounted and $118,776 for programs; mechanization and imor a total of $228,792. Acgalena, methods for proved mining to statistics compiled greater productivity and lower cording Tristate Zinc Sc Lead Ore the by of small mine op- Producers costs; problems Assn., the shipment erators; future outlook for the value for the first 26 weeks of base metals and for silver and the year, not including premimethin gold; progress milling Deep below the earths surface, 2800 feet, a huge under- ods was $12,801,821, of which to increase available ore re- ums, out and has of been rock massive this chamber carved ground serves . . . and new developments $9,188,184 was for blende and pumping equipment installed in the quest for metals. and improvements in- under- $3,613,637 of for galena, a weekly, $353,392 for blende, The picture was taken on the ground and open-p- it mining op- average for $138,986 galena, and a com2800-fo- ot effito erations Silver of attain greater the level bined weekly average of $492,-37- 8. ciency. King Coalition mine at Park 'Mining-Gone o Foreign-Visitor- s' indicates the and depth-tCity, Comparison which miners must go to provide A special feature will be the At the same market prices, the metals necessary for the postwar presence of distinguished visitors net loss on the comparison with from Mexico, who will describe the current weeks period. shipments Many are willing to think so present-da- y activities and amounts to' $263,586 for the week since the. end of metal premiums, conditions inmining Increased Costs that country. or more than half of the weekly but in this case we are speakinj; A number of eminent speakers income One of the problems facing of prairie dogs. from the sale of local in ores. This in addition circles from government to a loss of Utah mines today is to meet the . For some years past, a well Washington will appear on the more than $1 million in fedhas known who costs been inherent in increased deepgeologist program. however, the eral premiums for district zine a study of the San Fran- speakers Primarily, will be leaders in the production er operations. Surface deposits making monthly under the have long since been explored cisco Mining District west of mining industry itself who will subsidy program. contended has focus the attention of the indusand during the war ore reserves Milford, Utah; Production last week declined of producing mines were reduced that there was an underlying try and of the public upon min- from an estimated 3116 tons iii to a low level due to the short- copper deposit below the wash ings requirements from the the to 2019 tons previous period has that for been to years past standpoint of public policies age of manpower and the neces13 as concentration units large year by year. He con- meet future needs. sity of placing all available deepening operations. suspended of cluded that this the oxidizing The meeting is sponsored by workers on production in order At the close of the week 17 ore just below the surface was Western Division of the Amerito meet the demand. still in operation, but plants To siphon off the water under warming the earth, making it can Mining Congress, of which of thesewere 10 were small at least to who attractive H. M. Lavender, vice president oj which much of the states ore prairie dogs part-tim- e operations which in now lies requires the expendi- "holed-u- p. during the winter and general manager, Phelps the aggregate would produce ture of much capital both for months in great numbers. In Dodge Corporation, Douglas, about 100 tons weekly withonly of the the diggings Ariz., is chairman. development and for mining. many out premiums. Each foot of depth adds to the prairie dogs, this geologist noted Mine Reopened tiny bits of rock which carried Hecla Paid Dividend problem and the cost. this discopper. Intrigued by Need Incentive Eagle Picher Mining Sc Smeltcovery, his curiosity forced him WALLACE, Idaho The Resur- ing Co. reopened seven of its There was a time when the to dig a hole six feet in depth to rection Mining Co. of Lead-vill- e, mines last week in ah miner needed little encourage- the bedrock. Sampling this rock has paid Hecla Min- marginal, Colo., to effort pick up enough tonnage ment to stake a claim and devel- showed the following assay: Co. $25,000 as its dividend to maintain efficient operations ing 3.8 . . oz. oz. have . .015 Times Gold resources. . its Silver op from earnings for the quarter. at its Central mill. The company 9.4 9.8 changed and mines have changed Lead--.- . Copper.... Hecla has declared a dividend of is attempting to operate a total and the incentive to develop This would rate a value of ap- 25 cents a share from of 15 of its 29 mines which opermust not be lost to the miner and proximately $50 to $55 per ton. and from dividends fromearnings Polaris, ated under premiums. the prospector. Needless fo add, plans are be- Resurrection and Sullivan Mining made to strip, the area and ing Co., in which Hecla owns a St. Joseph Lead further develop this. land. The large interest. property is owned by the Frisco St. Joseph Lead Co. voted the Silver Lead Mining Co. This is a womans world. When usual quarterly dividend of 50 a man is born people say, "How is cents and an extra 25 cents on the mother? When he marries, common, both payable Sept. 10 they say, What a lovely bride! to stock on record Aug. 22. A And when he dies they say, How like extra was paid in the two this re tract was a part, was did he leave her? much preceding quarters. issued to Paul Butt, Albuquerque druggist, on August 12, 1926, or 21 years ago this month. It was assigned 'to Fred Luthy on FebThe original lease ruary number was A-(early in the oil game in Lea County) as the number indicates. The original rental charge was More than 250 Bureau of Mines out of print,- these reports may five cents per acre, but, for sevbe consulted at depository lieral years the owners have been publications and special articles braries receiving Bureau mbfigp-tion- s. paying the customary 50 cents dealing with the chemistry and A list of these derogHosy, per acre annual rental or since of petroleum and oil libraries also is containediate refining the lease became productive. The shale are enumerated in a select- bibliography. lease is in the Drmkard sector of In addition to pioneer Bureau ed list of publications now availLea County and a number of -' able fot distribution to' the 'pe- research, the selected list Con-- ,, producers from lower Permian troleum industry and to the gen- tains the titles of reports based'pay zones, at around 6500 feet, on cooperative work with the' eral public have only recently been comIncluded in the bibliography State of Oklahoma at the Pepleted in almost every direction. are titles of previously published troleum Experiment Station at Flush production ranges up to the 500 barrels daily, so there is litreports' on Bureau 'petroleum and Bartlesville, Okla.and with at . the of e the Wyoming research during past University tle doubt but what the oil pay- METAL MINING INDUSTRY .OitrShale Experithe Petroleum and of some ment of $1000 per acre will be years.. Although. OF UTAH complete publications now are ment Station at Laramie, Wjo. paid. non-metal- lic T ristate Area Making Readjustment . ore-bodi- - In addition to its mining prop- erty, Madison Mines also has . considerable holdings of royal ty interests and operating rights in oil and gas leases. In a recent (letter to stockholders, the com-'palists the following such $ projects In which it has interests in varying amounts. Gordon Creek Gordon Creek Structure, Car-ibo- n County, Utah: During the past year the Pacific Western Qil Corporation has drilled 'well on this structure to a rec-qr- d depth for the State of Utah of 11,613 feet. They are at present bottomed in the Kaibab Limes, Permian Formation, which lie immediately above the Coconino sand which is die ob jective horizon for this test. A new rig, which will enable deep er drilling, has now been in stalled and drilling operations are again being carried on. Several showings of gas and some oil have been encountered in the drilling, and it is reported that upon completion of the test through the Coconino sands that casing will be set in the hole and a thorough test will be given to nil interesting formations encountered. The approximate cost to date in drilling this well has nv been $600,000. Nequola Arch Nequoia Arch, Emery County, Utah: Late last year the Callahan Drilling Company of Abilene, Texas, completed a test well on this area to a depth of 2650 feet A Schlumberger read ing (electric log) was taken of the formations encountered and showed good porosity and some saturation. Since the completion of this well the area has (Continued On Page 2) - Pumps Open Way to New Orebody at Silver King - To the Dogs' 1 Albuquerque Oil Lease Goes at Acre Rate of $1350 Among the oil fraternity, one often hears that its "quality and not quantity that counts in an oil lease. Another common remark goes something like, One is worth a huge good block of ram pasture or mountain tops, say the "Oil News. However old the expressions, proof of them was brought forcefully to the fore the past .week when it was learned Albuquerque owners had sold an oil lease in Lea County, N. M., for the neat sum of $108,000. or at the rate of $1350 per acre, payable $350 per acre, cash, and $1000 per acre in oil produced 80-acr- es 80-ac- re from the property. Owners of the lease are all prominent bqsiness men in Albuquerque who have lived here many years. The buyers are Stanolind Oil Sc Gas Co. (Standard of Indiana subsidiary). The original lease, ox which 80-ac- 59 Petroleum Chemistry and Refining Data Available - - Ioil-ehal- - |