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Show . .'- LIBRARY Tr or utar Wrrrv-'.- "" 4 m ". T SALT SMALM raicas IILTU (hi M MW Miaail HHl LEAS pm 1M lMt .ASAN . OOPfll - A Jr.fcb'Efc UU Will - GOLD (pM m) UNO (PM IN) IMG Features Mining, Oil, Financial VOL 18, NO. 34. Salt Lake City, Utah, September 12, 1947 Shares on Salt Lake Stock Market Show Higher T rend to Teir 1947 September 1, 1947 Thi Information contained In ttali .reliable, not cuaranteed, but believed to beet le derived from aourcea regarded aa Area Great 'Big Hill Bingham Metals Bonanza Mining xBristol Silver . . xBullion Central Standard xCardiff Infermountain be correct. Listed Stocks -- One Year $2.50 - Oil . . xChief Con. .... xClayton Silver xColorado Con. Potential The greatest oil and gas reserves yet unexplored on the North American Continent are believed located in the Northwest sector. This opinion has been expressed by a number of .70 Colb.Rexall xCombined Metals ... xCoinet Coaln. xCommonwealth Lead Crescent Eagle Oil ... Croft Crown Point xCons. Eureka xDragon E. Crown Point ' xEast Standard ...... E. Tin Coalition geologists .and geophysicists who have spent many months checking and examining the territory. Large Area The San Juan Basin in northwestern New Mexico covers an area of approximately 12,000 Empire Mines ... xEureka Bullion square miles, which in the deeper zones is said to contain as much as xEureka Lily Con . Eureka Alines . . 12,000 feet of sedimentary sections. Several oil and gas fields Eureka Standard have supplied local markets for Gold Chain .... 25 years. The Barker Dome and .Great Western ., other gas fields are now expected .xGrand Deposit to be connected with California xHom Silver ... xHowell and Pacific Coast markets within Indian Queen ... the next few years. A lot of geolKennebec ogical work has been done in the Kentucky-Uta- h area. ItllMMIII Then there is the Black Mesa Basin in Arizona, which also covers some 12,000 square miles and xLittle May which is known to have thick sedimentary sections. A few shallow wells have produced oU Hill Miller intermittently since 1908. xMhiers Gold ... : Missouri Monarch eeeeeeeeeeeee Northern Utah xMoscow IIIMMMMI -- xMt. o V 7 Another prospective sector, a large area, is the Colcovering to living. The prices of most stocks, however, were above those . Mining, oil and Industrial stocks tradinr on the Salt Lake orado River Salt Basin, mostly fa as low of the the months shown for first the year. eight Southeastern Utah, but extending Stock Exchange were Showing signs of recovering toward their 9,238,997 shares were traded with a market that During period, show-- 1 into Southwestern Colorado. value of 81,403,268. 912,802 shares were traded in August, high levels for the year as data was released this week This basin covers some Still 19,000 of a lower somewhat level the than for month the August. average indicating ing trading statistics through the miles. Tests for potash square -. more With months. the of information gaining of preceding payJ and magnesium have found good combating effects of President Trumans vetocostssubsidy relative to operating possibilities without subsidies, it is exthe upward ments together with high material and labor of 43 gravity oil around showings move both issues will and in volume. that higher price pected trend is far from that being displayed by commodities essential the 4200-fo- ot level. the During war, some 200,000 acres of public lands in Grand and San Juan Counties in Utah, were withdrawn from the Public Lands Leasing Act On July 23 last, these lands were again thrown open for filing preferenclocated e-right Gold Nonof Mineral Company; Mining applications. Valley Holdings October 55 some miles House preference of the filings open District ' Range, Peak in the Notch By L. M. Hill 23rd next Original applicants west of Delta, Utah, have been leased to the Graham Miller ConMuch of our industrial and have preference. Tfca (illnrlni Infarmktiau wu IneUI-- I struction Company, it was announced in Salt Lake today. economic life is "standing on oil and gas shortages on la aa aidrm bcfwa thi Mining its head" mostly due to an theThe af Mantana at Batta, Montana, The new firm is said to have Pacific Coast are factors in unbalanced price structure, this In Aagaat af thla year by Kabcrt L. an extensive examination made coming to Lead ladaatrtea a suitable method development The Secretary, Acting covery settogether with uncertainties in population in that " Aaaaeiation, New ,Trk City. Thla la a of the property and is now commercial and operation. large and other foreign United States has section of the Europe eantinaatiaa af Mr. Zieffleld'a paper, tha ting plans for its operation. Rebeen growing lessees believe This the present countries. Demands from these firat part af which appeared la Mat weeks ports indicate that plans include and bounds and the fact by leaps the have issue af Western Mineral Surrey. in making. areas continue to be drastic that a 4000 yard per day mill opera- they "LEAD FUTUXE are no coal beds along there with United States the tion and the installing of a pilot Pacific Coast has forced the (a continuation) metal industry one of the vital the to grind and sample the Dividends to area plant on petroleum and restrictions wartime Up Already factors dominating a possible natural depend lode prospects. for gas manufacturing, and high prices have resulted in Lode Cash dividends paid by U. S. solution. This is true from domestic and heating Operation purposes. inas as a an well monetary cut use lead of in the in second the a drastic quarcorporations Mineral Heretofore Valley for foil manufacture which has has been regarded as strictly a ter of this year exceeded any sec- dustrial productive standpoint ' Intensive exploration and dedropped from about 45,000 tons placer proposition; however, re- ond quarter in history. The comUnion and hereto- in 1941 to less than 4000 in sults of the recent examination merce department reported that velopment of new worked-out-areas refore believed 1946. There has been active dividends reported publicly reported to disclose possi- about 60 per cash cent of search to substitute for lead in are all potential of mineral probilities of a substantial lode opcan and will result miltotaled $1157.5 duction, paints, cable coverings, gasoline, eration. payments chemical equipment, and elselion in the June quarter against in the needed metal supply. Our where. What happened in the picSample mill runs, with equip- $999.9 million a year ago. Memcase of foil is also happening in ment on the property, were conture in last weeks issue comes MIAMI, Arizona ducted at the rate of from 15 to tubes. the case nearer to depicting conditions bers of Miami Miners Union, 40 yards per hour. Local 586, IUMMSW, CIO, voted Quantity surrounding the Nations minLead In Future samples of from 50 yards to 300 that unanimously at a meeting held than anything ing industry last Sunday to accept new conSo I think it is important that yards were milled as a basis of could be written. tracts which have been drawn up manufacturers of such products determining the deposit valA good portion of our presknow that they will be able to ues. These samples have run comes from the with four mining companies in ent trouble this area. continue for many years to get from 15c per yard gold and 26c of "war born excessive power the lead they need. They should per yard scheelite to $5.25 in of The contracts provide a nt agencies. Many government realize that recent shortages of gold and to approximately 75c those and a day increase in wages retparticularly them, lead are temporary in nature and in scheelite, according to 'Mr. to do with restriction to July 1 and an roactive having not the result of dwindling re- Tom Miller of the construction of honest an hour increase for the progress, mining serves, and that current con- company taking the lease. to have a difficult time period April 1 to July 1 and six appear sumption is probably well above Area Sampled determining the top from the paid holidays. normal. They should know that conducthas been bottom. With this thought in Prospecting Companies concerned are: Misome 30,000 tons of lead, or ed, with a bulldozer ahd dragmind, showing them, and ami Copper Company, Castle nearly 10 per cent of domestic line, in the form of cuts some many- other people too, someDome Copper Company, Inspiramine production last year, was dein to their own tion Consolidated width to' feet twenty, comparable thing that from properties Copper Comproduced metal values in various status may make mining proband the were not producing prior to 1942, termine International pany . Over a lems more understandable to Smelting and most of them not producing un- sections ofof the area. Refining Company. estimates have them. We hope so.t And anyyears til 1944 and that new production period Reports from the local union toof to as made been the be should of a lot yardage things way,' will probably compensate for day stated that the contracts contained in the Valley, turned upside down. would be signed .wUhin the next any lost production. They should gravel a substanf which indicate i i know that in a few years there all or four days'. three The petroleum industry in the volume. will probably be sizable new tialExistence InLocal miners will receive apand other of S. U. has gold rejected capital production from several African minerals have been bilto more known vestments 'than $100,000 in retroac'$4 of proximately properties, from Canada, Aus- exist in the Valley for many R. tive pay as a result of the conWm. 1947 and lion 1948, for tralia, and perhaps elsewhere, years, and some production rewill be METAL MINING INDUSTRY Boyd Jr president of Ameri- tracts. . The . payments as well as from Idaho, Montana, can Petroleum Institute, has made September 5 along with corded, however the major probOF UTAH . the regular payrolls. lem has been developing a re stated. (Continued On Page 2) , , - City-Coppe- r o S . Expert Gives Lease Granted on Property Facts on U. S. Of Mineral Valley Gold Lead Supply "A Lotto Things Should be Turned Upside Down" . Zleg-flal- d, - . . "up-side-do- - wn Miami Votes to Accept New Wage Pact. . 96-ce- 11-c- - -- ;t -- . i ent |