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Show Ike Weitern Page 2 Editorian The Keys In Backers of the Upper Colorado River Project used the unexploited minerals and metals resources of the western states as a primary reason for passing the huge water and power bill. less than two Fruits of their efforts are already showing months after the bill gained passage. The San Francisco Chemical Co. this week announces decision to move into eastern Utah to develop huge phosphate deposits of vital fertilizer and chemical industry raw material ore. Their move is attributed, in part, to the potential availability of electrical power due to the Colorado River development. This is one of the first moves to develop the dormant, though rich mineral deposits in the western states. Others will follow. In die four upper Basin states Utah, Colorado, Wyoming and New Mexico are contained some of the worlds richest deposits, awaiting water and power. Listed among potential reserves to be developed are vast iron the ore reserves in Utah, Wyoming, Nevada and New Mexico most essential to the growing iron and steel industry in the west; U.S.G.S. estimates coal reserves in Colorado, Utah and Wyoming at 315.3 billion tons, equaling 630 years of the total U.S. consumption rate; oil shale deposits cover more than 4 million acres in four states; copper produced in die four states was 86.6 per cent of the national total production, leaving hundreds of acres undeveloped. Lead and zinc leaders the four states, plus Nevada, produced 28.9 per cent of the nations newly mined lead and 30.2 per cent of die zinc. Although Utah has tho only solid asphaltum deposit in die due to lack of water nation, it has been inhibited production-wis- e and power. The boost the Colorado River project gives to die new, booming uranium industry is uncalculable; the five states listed now mine almost 100 per cent of the U.S. production. This is the label on the western states treasury chest of minerals. Unknown quantities lie beneath the locked lid. The Colorado River Storage project provides the key toward checking its contents. In Defense of The Truth While many irate uranium businessmen were talking the past few weeks about had publicity the industry was receiving, one researcher was preparing a rebuttal. A new report on the growth of the uranium industry in the west complete with all facts and figures, plus hacking statements from the industry and national leaders, is contained in the latest Uranium Market Research. Detailed material was collected by Salim S. Aizer, a graduate of the University of Utah with a Bachelors and Masters degree in economics who spent many hours searching newspapers, magazines and textbooks to substantiate his material Says Aizer, he is attempting to change the current trend from (Reprint from the Arizona Weekly Gazette) LONDON, May 7 (AP) A ng British bullion dealer has estimated that the Soviet Union las boosted its gold production to at least 10,000,000 ounces a year $250,000,000 worth. Samuel Montagu and Co., merchant banking house which handles much of the Russian gold reaching the West, said Soviet gold reserves probably total about $7,000,000,000. Tins IS ABOUT of one-thir- d the Fort Knox reserve held by he United States. The Montagu firms annual bul- lion review said the Soviet Union now stands second only to South Coal Studies Asked By Utahn Wy JJjh t? . year starting July 1. In a special report Assistant Secretary of the Interior Felix E. Wormser, said there are more than 200 possible research projects in the field of bituminous coal. Steen's Utex Co. Must Pay S.L. Judge Says A Salt Lake judge this week handed down judgment for damages against Charles A. Steen, uranium millionaire from Moab, Utah. The lawsuit, second for Steen in the past month, stemmed from alleged breach of lease agreement filed by Archie Garwood, R. C. Gerlach and W. E. Bozman. $270,000. Right now the circulation of the WESTERN MINERAL SURVEY is keeping pace with the uranium industry in general booming! Keep posted on latest news and quotations by reading the WESTERN MINERAL SURVEY regularly . . . every week. SUBSCRIBE I NOW! 2 year $3.00 years $5.00 P.0. lation safeguarding the nations tungsten production has been made by Jack How, Chairman of the Mining Committee of the San Francisco Chamber of Commerce. He made the appeal in a letter addressed to Sherman Adams, the Presidents Assistant. How, on behalf of the Chamber and western mining interests, asked for Administration support of legislation pending before the Subcommittee on Minerals Materials and Fuels of the Senate Committee on Interior and Insular Affairs, providing for maintenance of essential production of tungsten ores and concentrates in the United States, its territories and possessions. The present tungsten purchasing program of the General Services Administration expires June 1, 1956, How pointed out. The Chamber fears that expiration of the program without another to replace it would result in a shutdown of the majority of domestic tungsten producers dangerous from both the economic and national defense standpoints. In an answer to a earlier appeal by the Chamber fyr cogres-sionsupport. Congressman John F. Shelley advised the Chamber that the Administration is opposed to continuation of the pro gram. Teletype JUNCTION, All-weat- her 2020-202- 1 rear-mount- ed int Moab, Utak Arches Building Alpine 349 yd. power bucket 36.5 hp gasoline engine e 8'2" dumping clearance crawler traction and flotation Turns with full power on BOTH tracks 16" ground clearance Weighs only 6670 lbs. Optional scarifier, hitch, winch u. Call us for dolallt 07 COLO loader UNDERWRITERS 165 East Bioadway DA EMpire BRAND low-pric- ed i-c- SU153 Salt Lake City. Utak Bill me later NEW I wJk VV al GUSS SEURITIES CO. 53 Remittance An appeal to President' Eisenhower to look with favor on legis- PHONE STOCK BROKERS The trend in resistration of new mining firms in the State of Utah has changed from the oneu-darush of a year ago to a month, according to Milton Love, chairman of the Utah Securities Commission. Only five or six companies have filed for registration in the first months of 1956, Love said. Of 260 applications received by the Commission, Love estimates 200 have been approved. Love also announced release of stock from escrow of three uranium companies including Uranium King, Chute Canyon Uranium and Pioneer Drilling Co. Stock of officers of new companies is escrowed, Love said, as a protection for the stockbuying public. After the company has made its initial organization move it reports to the Utah Commission. On the basis of a favorable progress report the stock is released. Love said nearly half of the stock escrowed by the Utah Commission has been released to date. y Ask Tungsten Protection Aid Direct Wire Service to STATE ciBCUiiATioir Commissioner Notes Receding Mining Interests All Leading Mining and Trading Centers , PRUI er 349 MAIN NAME CITY The-answ- GRAND JUNCTION, COLO. Bos 2608 rfirrill 49 ANNOUNCES THE OPENING OF THEIR OFFICES IN Salt Lake City. Utah ADDRESS raws - GUSS SECURITIES CO. Circulation Departments 421 Church SL - LORRAINR Recognizing the importance in the mining research industries. Senator Arthur V. Watkins, Utah, Chronicle said the has recommended new funds for The News Soviet gold position disclosed by bituminous coal research. means the The request is for a $5 million the Montagu report is there. it to for pay fund to be spent in the next fiscal cash Four Grand Junction men were awarded judgment against Steen in a libel case two weeks ago in the Federal Court, Salt Lake City. They asked $1,320,000 damages. They received $20,000 in punitive and general damages. .. SURVEY Africa in annual gold output. 431 Church Street flume EM South Africa produced 14,600,000 ATVEETISINO ounces last year. XU Box 2608 The review said the Soviet Salt lake City, Utah Union so far had 'given no inEntered ee second diw matter et Salt dication of any intention to flood Lake City, Utah, under Act of March X 1879. the market. commentThe Financial Times Subscription rmtei: 15:00 for two yeara; 13.00 for one year. ed editorially: WHY, IF THE Russians have Flaaaa mention Wee tern Mineral Surwritlnr to advertleere. Adver become such large producers of vey when rate on application. tirinr gold, are they so shy about it? x x x is that the Russians feel the less said about HABBYB. MILLEB PuhUaher their gold production the less GAIL F. CRITCHLOW Editor likely it is that the United States L. U. HILL...: Contributing Editor will make it difficult for them to dispose of it. Soviet Premier Bulganin and AH appearinr In the Wee tern Communist Party Chief Nikita Mineral newi Surrey la obtained from aourcea to he reliable bat no reeponaibil-it- y Kruschev during their recent believed aaurnnad for aoeuracy of atatementa. la visit to Britain said the Soviet Beprodnction of any material from tbla Union could buy up to $2, 750,000,-00- 0 publication muat hare written permlaaion worth of goods from the from the pnbUaher. United Kingdom in the next five years if the British would modify U. their observance of the Western ban on shipment of strategic materials to the Reds. Cuheribe Activities ? WESTERN MINERAL Soviet Gold Reserves May Be $7 Million Plaintiffs claim Steens company Utex Uranium breached gossip to facts. contract by refusing to let them This report, probably one of the most complete on the ura- mine pillars in the workings, or, nium growth in die area to date, will be handy reference mater- in the latemative, buying pillars ial for the man interested in defending the future of the industry from them. with facts of the past. U. S. District Judge Willis W. Ritter did not set amount of damages but ruled plaintiffs were entitled to the amount they would Wcu! have received if allowed to complete their contract Amount asked in the litigation amounted to Interested In Uranium May IS. 1956 Mineral Survey, Salt Lake City. Utak Main - Phones 21 20202021 Machinery Center, Inc. 1201 Sonth 6th West SALT LAKE HU CITY, UTAK 01 |