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Show (J. OF U LIBRARY ' -- CITY 1 - i METAL PRICES V Lead (per lb.) 19c $34.9125 --24.2c 19.5c lb.) "I Gold (per oz.) Copper Zinc (per Silver (per oz.) new mined Features Mining, Oil, Financial Salt Lsfte City, April VOL. NO. 23. NO. 16 00.16c One Year $2.50 18, 1952 DMA Approves Loans For Western Mining Properties Fifteen new defense mineral Colo., exApril 18 more than $1,400,000 in governploration contracts, involving ment and private funds, have been signed with mining property owners and lessees in Colorado, Utah, New Mexico and Arizona, J. H. East Jr., Regional Director of the Bureau of Mines, announced today. With the spring thaw soon to clear a record snowpadk from the high country of the Rockies, enabling claim holders to reach their properties, preparations are well under way for renewal of an intensive search for critical and strategic minerals, East DENVER, In addition to the new projects Securities Offerings Top Record Last year U. S. corporations planned under this quest for additional miner- offered more new securities for al reserves, a program super- sale than in any year since 1929 vised by the Department of the according to a report mare pubInteriors Defense Minerals Ex- lic today by the Securities and of Consolidated Colorado Pane alines City property ploration Administration, opera- Exchange Commission. In 1951 Development work is continuing at the tions will be resumed at numer- new securities offerings amountCompany by American Smelting and Refining Company, under an operating agreement ous projects suspended when ed to $7.8 billion compared with between the two firms. Shown above is a photo of Park Cons Crested Butte, Colorado, propsnow blacked access roads last $6.4 billion in 1950 and $7.1 bilerty at the time of acquisition in 1949. fall. Moreover, a spring rush lion in 1948 the previous high of Inquiries and applications is in recent years. The increased being experienced by the Bu- volume of securities in 1951 rereau of Mines and Geological flected the greater need for Survey, which represent the fundsfunds in the capital marDMEA in this area, East said. ket by corporations, especially Minerals sought under the those in defense industries, to The following report to stockholders concerning conditions of the Park City newly signed contracts include finance their plant and equipConsolldsted Comp&ny wu submitted this week to stockholders of the com- - lead, zinc, tungsten, copper and ment expenditures wheih were piny over the signature ofCaxl V. Btehle. president: All equipment and buildings at the the Ruth property in Mis uranium- - Project costs will be all record levels. with the government conCorporations raised $6.5 bilMine production of recover- souri were sold diming the year. The income from these sales split, and $803,928 private tributing lion in 1951 for new money was used to strengthen the companys cash position. The able lead in the United States $597,636. The govern- poses, including $5.1 billionpmv industry for now has withdrawn from Missouri and, with the exception ments share, ranging from 50 plant expansion and $1.4 billioi in February was slightly lower of subsoil reunder the Ruth property and the right to rights per cent of the total project cost for additional working capital. than the Januar youtput, ac- work the tailings, has no assets in Missouri. for lead and zinc explorations The funds procured in the secording to the Bureau of Mines, ' There is no likelihood that to 90 per cent for uranium, de- curities market for plant and United States Department of the anyone shall want to go back pends upon the need for and equipment purposes were hightons few totaled the mine for into the Production Interior. availability of the ore. Federal er than in any previous year on The of ore rid in the with 34,864 left is repaid when ore is found record. In 1951 new securities pillars. tons, compared (Week Ended April 12( 1952) considan of Fredericktown and mined. and average in tons City January BINGHAM DISTRICT, UTAH of the total provided as tons a shaft 32.53G the of ered purchasing Eight of the new exploration amount estimated to have been monthly output Combined Metals Reduction in 1951. The February total was means for drawing water from Co. 350 tons. projects are iq Utah, four in spent by corporations for this waof the An mine. the month, the Colorado, two in New Mexico, purpose, the remainder being lower than analysis previous U. S. Smelting 7701 tons. conlead shortsubstantial of one in Arizona. The largest provided showed the ter because and principally Utah Copper (Kennecott) by retained earnings water the United and depreciation with the the average er work month; contract, tamination, making signed n 1017 car accruals. daily average. and States Refining Smelting, daily rate of production was unfit for public consumption. PARK CITY DISTRICT, UTAH Privately-- laced securities 1173 tons, compared with 1125 St. Louis Smelting, at its exMining Co. of Salt Lake City, reached Co 1873 tons. New Park a new record of $3.4 biltons in January. pense, made extensive tests of Utah, provides for a $581,842 lion in 1952. This 1388 tons. Park Utah amount comlead-ziexploration at the pares with $2.7 billion in 1950 Central States of the tailings dump for possible The West Silver 120 Coalition King ' and zinc content The as- tons concentrates. Bullfrog mine in Grant County, and $3.1 billion in 1948, the Kansas, Missouri, and Oklaho- cobaltdid prewarrant not recovery ma produced 12,740 tons of re- says EUREKA DISTRICT, UTAH New Mexico. vious peak 'for private tamsao recentof the metals. list these of A complete coverable lead in February, 9 Chief 52 cars ore. tions. The rise during 1951 in mind the expense in Having approved projects follows ly below the cent January Consolidated 32 cars per the Dragon of direct offerings Continued on Page 2 was volume maintaining the property at clay. to yield. The three states report- of due a number of factors A. Hogle & Co.) ed declines ranging from 5 per Park City, Utah, negotiations J. (Courtesy uncertainties in the including or sell cent in Oklahoma to 24 per cent were carried onSoto leasenone bond market the and greater of Jack Waite in Kansas. Mines in states east the property. in thefar, use of the forward commitment district has the operators Jack Waite Mining Company which of the Mississippi River procurrently is advantathis week reported 1951 gross geous to both issuer and instiduced 917 tons of lead, 12 per shown willingness to make a Shipments of copper sulfate cent lower than the January deal. of $59,973, a gain of 82 tutional investor. Private transat in .the February were 12 per cent receipts Regarding operations total. cent over the previous actions accounted for 4 percent Keystone Mine in Colorado, greater than in January, and per of all corporate issues in 1951, In the combined western American Smelting & Refining were the largest monthly ton- years total of $32,574. Fourth-quarte- r with 42 percent in states, February mine produc- Company reports as follows: nage reported since 1946, with gross revenues last compared 1950. tion of recoverable lead totaled Our total expenditures to the single exception of Novem- year totaled $25,511. This is more 20,352 tons, or 2 per cent high During 1951 there was a conJanuary 1, 1952, upon the Key- ber, 1951, according to the Bu- than double the $10,123 total for tinuation er than to Jamis of the trend toward We $418,209.52. reau of Mines, United States the preceding quarter and over month. worit shorter the amount, $50,000.00 was Department of the Interior. three times greater than the equity financing, accompanying spite, increas- eThe largest connexion with the Production was virtually $7475 (reported for the fourth the rising stock market Equity 800 tons was from Utah. Utah s issues accounted for 26 percent was 0f the from claims, but Keystone January quarter of 1950. increased output was due chief- pUrclage of the of total corporate offerings comloan and RFC on 7 cent a repayment per greaijer daily ore of to tonnages larger ly to Park City. Our work average basis and was the highpared with 23 percent, 19 permined at the United States and payment consisted principally in advanc- est daily rate since sometime in Nevada Aline Ships Ore cent and 16 percent in the three Lark properties of the United the 2000 level, and starting 1946. Stocks dropped 12 per LOVELOCK, Nevada Steady preceding years. States Smelting Refining & ing and advancing the 1670 and 1370 cent and were sufficient for less heavy shipments of iron ore are Mining Company at Bingham. with some raising and than one weeks needs at the expected to commence soon. Westvaco Chemical Mine production of recover- levels, l work. We also rate of shipments. February Co. will Construction able zinc in the United States Dodge on Page 2 start shipping 20 carloads a day, Forms Mineral Unit in February declined 2 per cent six days of week. There will be Westvaco Chemical Division from the January output. Feb- Who Voted For Whom Aluminum no letup as in the past waiting of Food Machinery & Chemical ruary zinc output totaled 58,774 A to was attempting for ocean going vessels. The Corporation has formed a Mindowager tons, compared with 60,233 tons Domestic of priproduction introduce her in January and an average company has installed a larg eral Development Department, in aluminum new deacon at to the husband mary February jaw crusher propelled by a with headquarters in Pocatelmonthly output of 56,592 tons belshe church. was 72,330 short tons, according deisel engine. Boulders are be- lo, Ida. The new department Mortimer, in 1951. Production was lower the 1s deacon. new This the to the Bureau of Miiies,. The de- ing reduced to eight inch sizes will be managed by O. A. Powin February principally because lowed, Mtortimer. cline of 6 per cent from Janu- at the pit Mine ore has gone er, formerly manager of the J. Humph, grunted of the shorter work month; the r eh? R. Simplot Fertilizer Company. New dealer, ary can be attributed to the out in the past average daily rate of production Associated C3o. with Mr. Power are is shipMineral Materials No, no Mortimer, she shout- shorter month Since industry during the month was 2098 tons, a of men well known compared with 1943 tons in Jan- ed in his ear. The new deacon. maintained about the same ping around 12 carloads a day. in number intermountain mining circles, Hes the son of the Bishop! daily rate of production. stripping operations Heavy uary. comThe been Mortimer under have including geologists H. B. Fowway. so, growled Quite In 1951, 9470 pedestrians pany is expected to get up to ler, Ace Allen and W. C. Peters Speeding on U. S. streets and starting to stump away with his 0 cane. its quota of around 30 carloads and mining engineers E. L. "Every durned one of em were killed in U. S. traffic highways last year injured a day before long. Spencer and W. A. Young. meii, women and children. is. share-the-co- st Park Gty Cons. Report Slight Drop Reveals Status of Company In Lead Output Noted com-pan- 34,-00- y Ore Shipments 9 one-four- th 85-to- p nc Copper Sulfate - tge . , sub-leve- ed Primary hard-of-heari- 570,-08- ng un-hcan- ged |