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Show Friday September 6. 1957 Pay e 5 THE WESTERN MINERAL SURVEY President Odium Reports Atlas Holds $51 Million Uranium Deals According to a mid-yea- r report of Atlas Corp to its shareholders by the companys president, Floyd B. Odium, Atlas bad direct invests meat in uranium enterprises of ing Co. as an integrated affiliate in the uranium field for Atlas. 'But it details holdings of Hidden Splendor and its affiliates in Utah, Wyoming and New Mexico. The Almar Mine in Utahs Big Indian District on June 30, 1957, had 635,000 tons of average grade 0.5 per cent U308 ore yet to be mined and reserves of this ore body proved to be larger than the original geological estimate, Mr. Odium said. some $51,780,000 on June 30, 1957. The totals do not include more than 12 million dollars invested on a security-portfoli- o basis in shares of a number of companies in uranium such as Stanrock Uranium Mines, Ltd., Vitro Corporation of America (8,857,032), Standard Uranium (211,900) shares. in the recently announced merger deal). Reserves at Cal Uranium are placed at between 144,0000 and 220,000 tons, depending on grade. The eight separate ore bodies in this San Juan County, Utah, mining area are placed at 450,000 tons in Place of .061 U308 with an additional 72,000 tons of 0.27 U308. Ownership of 18,000 tons of this latter ore is in dispute. The Ike Shipments to Uranium Reduc- shaft is and Columbia tion Co., in which Hidden Splen- shaft willcompleted be finished this fall and dor has a 30 per cent interest, are production of 250 tons daily from at the rate of 12,000 tons monthly, the Ike Shaft and 550 tons a day the report states. from the Columbia is scheduled, Mr. Odium said. It announces that the claims and mines in which Lisbon also has found ore on Hidden Splendor has effective other Big Indian claims of com100 per cent ownership" will prob- mercial thickness and grade in a ably be mined from. Lisbon Urani- total of four holes drilled, but um Corp.'s new Columbia shaft this amount of drilling is not in this district. (It is proposed regarded as sufficient to include that Lisbon, an affiliated of Atlas, these as reserves at this time. be merged with Hidden Splendor Lisbon is shipping an additional 600 tons of ore monthly from the Fresusner group of claims in Big Horn County, Wyo., where a commercial deposit has been located. As previously announced, the project on San Mateo Dome, Ambrosia Lake District of New Mexico, has hit ore and reserve development is under way. The report details, as well, the extensive holdings of Rio De Oro Uranium Mines., Inc., which has mines and an interest in the Homestake-NeMexico Partners Mill in the Ambrosia Lake area. Mr. Odium in his report emphasized the special situation" aspects of Atlas Corp. of Atlas Corp. investments as opposed to traditional approach of an investment trust to the securities market. Cal-Ura-niu- m Atlas has the bulk of its funds at present in uranium and oil enterprises with remainder in aircraft and related fields. The report does not cover the merger announcement involving creation of Hidden Splendor Min -- INTERNATIONAL SMELTING & REFINING COMPANY w It states thatindicated asset 818 Kearns Building val- ue of Atlas Corp. was $9.72 a share on June 30, 1957, as against $9.50 a year ago. F. A. Wardlaw, Jr., General Manager Salt Lake City, Utah ll .irr-i IT'S YOUR FAIR SEE ... ALL SMALL ENGINE SERVICE TnrrawITXT COMPARE CONSIDER CLINTON BE THERE! THE ONLY HOLIDAY on ICE BUY QUICK-STARTIN- ENGINE G PARTS AND SERVICE QUALITY WORKMANSHIP LARGEST STOCK OF SMALL ENGINS AND PARTS IN THE ROCKY MOUNTAIN TERRITORY of 1958 TRY US FIRST featuring "Aladdin & Top Hollywood Great Seabright His Magic Lamp" & TV - Celebrities Aerialist Captain Jimmy Jamison, sensational high diver - Days . . . packed with interest . . Education . . . Entertainment for the Whole Family 05 $100 $200 SEARS ROEBUCK AND CO. STREET Sept. 14 Livestock EM Pierpont $50 Regular 149.50 Mod. 117B Scintillator Regular 299.50 Mod. 111B Scintillator Regular 495.00 Salt Lake City, Utah Arabian Horse Show Ten Mod. 107C Geiger Counter 754 SOUTH STATE Horse Show 359 BIG PINEY OK and GAS CO. J. TRACY WOOTEN 306 Phillips Petroleum Building HOMEUTE PHONES: EM 4-75- or 52 HU 5-22- 48 Fun-Fill- er . Homelite-Bosc- h Carryable Equipment GENERATORS ROCK DRILLS BLOWERS BUILDERS HAMMERS and PUMPS Sales & INDUSTRIAL Fairgrounds SEPT. r EXPOSITION 13-2- 2 Salt Lake City Service Rentals 7440 HIGHWAY 91 North Salt Lake Utah PHONE ELgin DISTRIBUTOR White Tracks -- FOR - Autocar Tracks White Freighliner Tracks LINDNER & WOOD 712 So. 2nd W. Salt Lake City |