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Show dJ OF U LIBRARY 1 CITY J: METAL . . i-- PRICES Features Mining, Oil; Financial our 9 VOL. 22, NO. 41 C Mining Men Prepared for Convention American Mining Congress, Washington, D. C., has rcomplet- ed all arrangements for its mammoth 1951 Western Division Metal and Convention, which will be held at the Biltmore Hotel, Los An,. according to geles, Oct. advices received from Julian D. Conover, Washington, D. C., secretary of the organization. Top flight speakers from the mining industry all over the United States and high officials in' government departments and bureaus will address the more than 3000 attendants at the five economic sessions, four technical sessions and six round table conferences that will be held at the convention. There; will be plenty of entertainment, including' a welcoming luncheon, a dinner dance and the annual banquet. Special enter-- , tainment will be provided for the ladies and there will be special trips to mining operations, industrial plants and to the Hoover Dam after the convention is over. The convention is open to all Interested in the mining industry1 and their famNon-Metall- ic 22-24- ilies. International Mining Days will hold its 50th annual meeting sind celebration at El Paso, in conjunction Tex., Nov. Paso with the El chapter of the W. E. AJME. Donahue, of the Tbelps Defining Corporation, at El. Paso, is chairman of the invitations committee. Attendants will include many mining men from Mexico.-special invitation has been issued to members of. the Mining Association ox Montana to attend and arrange' ments may be made by ad dressing George Cates, IMD Secretary, at the El Paso Chamber of Commerce. . 15-1- 7, ' : Important Gold Strike in Mother Lode Biggest gold strike in 10 years was reported last week by Cen tral Eureka Gold Mines, oper a ting ' in Californias ; historic .Mother Lode but worked-ou- t Amador in County. country The bonanza, found in the vicinity of the old Eureka shaft at Sutter Creek, was described . by Arthur Kendall, general superintendent and engineer for the company as the finest look ing body of ore I have ever seen in my entire career. Company President J. D. Swift com pared it to the Bonanza shott1 which netted the company more than a million dollars a year in 1938 and 1939. Assays of the ore show gold values ranging from $400 to $700 ..a ton. About $14 in gold per ton is necessary for profit able operation. WANTED MINING ENGINEER to operate in Mexico Good Salary plus bonus must speak Spanish, Writ Quallficariatti to Sm MInwI Survey, MV4 Sant Lake City, Utah. & ...... 19c Lead (per lb.) Gold (per oz.) Copper Zinc (per lb.) A, WmHm Salt 1t SnA Jy m Silver (per oz.) new mined &'tr . uin- - alternative of direct subsidies with all their shortcomings, he stated. In the long run, subsidies will prove more expensive to the American taxpayer and less productive than tax Incentives. As a matter of fact, this mining problem has been so long neglected that some form of direct bonus payment may be required in any event to get production of minerals started in the shortest possible time, he continued. Tax incentives, as provided in the pending bill, will still be necessary to keep that production going." : He predicted that, although some temporary loss of rev- -, enue might result, the tax centives almost at once will create new taxable wealth which in turn will provide revenue for offsetting the temporary loss. In recommending retention of the modest allowance for exploration in the pending bill, he said this provision was the very minimum nec 90.16c One Year $2.50 Tax Incentives Held 'Sane and - Logical Method of Aiding Nation's Mining Industry Tax incentives for the mining industry were strongly recommended recently by Jess Larson, head of the new defense materials procurement agency, as the sane and logical approach to the nations problem of expanding production and supply of critical materials needed for security and the maintenance of the national econ- $34.9123 24.2c 19.5c - Salt Lake City, October 19, 1951 i . . . Manpower lack Curbs essary for the whole program. Senator McCarran of Nevada introduced the letter, Lack o L adequate manpower during the final day of Sen- - is seriously hampering producate debate on the measure. tion of critically-sholead and Senators Humphrey of Minnezinc, from mines in both the . sota, Douglas of Illinois and Coeur dAlene and Metaline disLehman of New York chose tricts of the Inland Empire, acthis occasion for an attack on mining provisions cording to the Wallace Miner. of the bill dealing with depleThe problem is fairly general tion allowances. Also under attack were the provisions for throughout the area and oper- of development, ators point out that no increase omy: expensing ' In a letter to Senator costs, and in a limited way, in production can be expected for expensing exploration ex- until it is solved. Metal price George, chairman of the Senate finance committee, Larson penditures. increases, mineral exploration Senators from mining areas urged retention of mining proloans, procurement loans and visions in the tax bill now quickly rose in defense of the other government' sponsored provisions and to correct pending before Congress, and exaggerated methods of expanding produc- -' stating that no problem constatements made the nation is fronting by the ad- tion will be futile unless more today more serious than that of ministration spokesmen who miners can.be fouridl metal shortages. were supplied with data and Reported shortages at individ-- : memoranda for their attack He asked that provisions in ual the bill for depletion, deprethe Treasury Department. properties indicate that beby The debate filled some 30 tween 500 and 700 ciation, and development and underground pages - of the Congressional miners could be used immediexploration allowances for the Record. mining industry be given fa. Differences between the ately, vorable consideration. The Bunker Hill, now operat. If this sane, and 'logical Senate and House versions of - then now not are is bill :the tax. s taken,being ing at about approach of cawe will likely be driven to the ironed out in conference. could increase lead pro- pacity, duction by 800 to 1000 tons month with an additional 200 ' miners, a company official : stated. Sunshine and Federal Mining and Smelting companies can use about 150 men each. Pend Orielle Mines and MetalCITY has Gold Zenda SALT LAKE Mining Company, 'S leased two mining properties carrying .strategic metals, one . a ine, needs abouUl33men at it's and. exploration produc tin district property. At pil in Alaska, the. other, a base metal mine in Utah pro- Metalihe placer least 60 must be obtained beat an accelerated tion continued rate this week at locations in ducing lead, copper: and zinc, with additional silver and gold fore the company can resume Los Angeles, vice president and con- operation of its n Josethe Uintah Basin area of Utah, values, B. M. Snyder of ' mill.. announced phine the of today. company, according to an activity report sulting engineer .Small operations are handiDrilling is under way on the y by the Roosevelt Standard. Alaska project, located 100 Snyder said; J. J. Beeson, Salt capped similarly by proportion- -, of operations follows: miles from Nome, to prove up Lake City, a veteran of the Alta ate shortages of. underground B No. Ute Tribal l (located and extend the area .already district, has been, retained as workers. . A few district operations, in- -: near Roosevelt, in NE SW, Sec. drilled by the U. S. Bureau of consulting geologist to report on eluding the Sullivan Mining test at Mines. The bureaus published the property. A drill-stetin show substantial results Companys Star Mine, have a 1 feet, open 1 hour, had values on land full complement of employes. Cape along lying a good blow throughout, and re- and Boulder Creeks on the The Star, however,' is and has' Shipments- covered. 1425 feet of fluid, the Seward Peninsula. been producing at a capacity 1951. Week Oct.. 13, ending, Adminrate so no expansion of output . The Defense Minerals top 1033 feet of which was Bingham District, Utah is possible. ; Day Mines, Inc., slightly oil and gas cut and the istration has granted a loan of Combined Metals Reduction Co., also reports sufficient manbottom 392. feet heavily oil and $54,000 and Zenda is adding ' $6000 to finance the .drilling. 330 tons; U. S. Smelting Co., power. gas cut. test between If results confirm those of the 7875 tons; Utah Copper, (Kenne-cottA drill-steSome operators take a pessi995-8- 5 ton .cars, daily av4 feet, open 1 hour, had bureau, Snyder said the commistic view of the labor outlook, a light blow throughout test re- pany would move a dredge, erage. out that even with Eureka District, Utah Chief pointing covered 280 feet of drilling flu- now in Alaska, to the property forthcoming wage increases the Consolidated, ore, 42 cars;- mill mining id, bottom 90 feet of which was and begin recovery of tin. industry will be unable A recent shipment of high tailings, 7 cars; Eureka Stand- to compete slightly oil and gas cut. successfully lyith Crews are drilling at 8272 grade ore from the Utah mine, ard, ore, 9 cars; Dragon Con., federal and hydroelecmilitary 33 cars. feet. the Wasatch Drain Tunnel, re- clay, tric projects now in progress Roosevelt Stepout Park City District, Utah turned $51 a ton at the smelter, cost-plunder contracts. 1 No. NW New Park Mining Co., 2095 tons; (located Zenda Lloyd is preSnyder reported. wage scales at these Crews cored paring to ship larger quantities Park Utah Co., 920 tons; Silver Prevailing SW, Sec. installations are well above the. at 9314-2- 9 feiet and recovered 15 of ore in the Immediate future. King Coalition, concentrates, mine operators ability to pay, feet. A core at 9329-5- 6 feet re120 tons. The mine is located on a state. Company)' they covered 27 feet. Crews are now lease in the Alta district, (Courtesy, J. A. Hogle testing. No report on total depth. 26 miles from Salt Lake City. Duchesne-Ut- e Tribal No. 2 The existing 5500-fotunnel is center in of SE NW, (located to a number tap A drill stem test beingjextended Sec. between 4231-7- 7 feet, open 1 10 recovered feet of drill- high grade; Ore' sofnesars ago, hour, mud. ing A drill-stetest between 4656-8- 6 feet ope 1 hour, re- Park-Bingha- m covered 60 feet of drilling fluid, Directors of Park Bingham no shows. Jack A. Burnett No. 1 Straw- Mining Company have declarec . .. Working in a mine or smelter : liquidating payment of three berry reservoir wildcat well No. acents to is the same as having a $30,000 per share, payable S 2, located SW SW, Sec. common of the stockholders bank balance. You see, ft takes $30,600 to are at Crews 9916 11W) drilling company,, according to an an the tools and equipment for each mari ini '' feet. buy Willow Creek Wildcat Well nouncement made in Salt Lake the industry. I sure didn't put up the money; 'It . No. 1 (located NE SW, Sec. today by R. A. Glenny, secre came from men and women' who invested their Crews are drilling at tary of the firm. The disbursesavinjgs with the company . . plus company ment is payable on the first day 6182 feeL profits. That's the combination that keep me Wildcat of November and books of the working. Well No. 1 (located near My ton company on common stockholders will be closed on. the 25th in SW NE, Sec. HH" Crews are moving in rotary day of October, Mr. Glenny flans IKGIAsrsiocrA ajnfifli na-tion- al Mine Activity . rt all-o- ut mis-leadi- ng . . . . . two-third- . Southeastern Zenda Gold Shipping Utah Oil From Property at Alta Work Pushed 1 . -- r . r . 600-to- Sur-mar- - m 20-1S-1- E) . 7859-805- f Ore . ! '' ), m - 8046-825- . . - ... 24-1S-1- Well-Rose-Ma- ry us E) 700-ac- re Ac ot 16-4C-4- m 34-4- Canyon-Governme- nt tools. said. - |