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Show x June 20, 1947 The Western Mineral Survey, Salt Lake City, Utah 2 Canadian Gold Mine Starts Output TORONTO, Canada An inter- esting affair in connection with Canadian mining came off here last Saturday. They poured the first gold brick at the first new mine to be brought into production in Canada since the end of the war. This property is known as Louvicourt Goldfield Corp. and it is up in the extreme northeastern section of the mining area of the Province of Quebec. In 1944 this was just so much swamp, but through the use of geophysical instruments and diamond drilling they outlined their ore body and since going underground the ore body has proven to be much bigger and more important than indicated by drilling. It. was their original intention' to erect a 300 ton mill but after going underground they decided to step this mill up to 400 tons to start with and as soon as they can get the necessary equipment they intend to step it up to 600 tons. If the. next two or three levels prove up as well under development as the first four have they will probably step it up to a 2000 ton mill in about a year. The party left here on Friday night with quite a lineup of mining people and brokers from Toronto along with a number of officials from the Ontario government. There were about 50 men in the party. They arrived at the property at noon on Saturday and they poured the brick at 5 o'clock in the afternoon. Then came a reception for the guests and a party immediately following. There were a like number of men from Montreal and all met at Val dOr, Quebec, Saturday afternoon. Included among the Montreal and Quebec group of invited guests were the premier of Quebec, the minister of mines, provincial treasurer, the deputy minister of mines, and the mayor of Montreal. The property was financed by Bryan Newkirk, formerly of Atlanta, Ga., now a resident of Toronto. The chief consulting engineer- in charge of . the program from the start was Fred Reid, mining engineer, formerly of San Francisco, Calif. - Lead Condition NEW YORK, N. Y. Lead sup- plies may equal demand by summer, Irwin H. Cornell, vice president of St Joseph Lead Co., told the National Ass'n of Purchasing Agents. He predicted the present price of 15c. a pound for lead would continue through the third quarter but may be reduced be fore the year-en- d. Yesterdav the average cost of copper to U. S. consumers drew close to the' domestic price of 21 cents a pound. On the basis of prices paid by domestic users for foreign produced and U. S mined metal, the average cost was 21 cents a pound. New Ore Producer Looms Oil Demand In Tintic Mining Area Continues to Pace Output (Continued from Page 1) all of the levels so far examined, which at present prices could be shipped with a fair margin of profit. Impressive Record Dr. Johnson, who is responsible for the geological direction of the new operations, comes to Utah with an impressive record. Graduating from Vienna University in Geology and Mining Engineering in 1902 and receiving a D.S. degree, Jena Polytechnic, Berlin, in geology, mining engineering, hydraulics and civil engineering, he furthered his education through attendance at the Imperial Polytechnic l Institute at Moscow, Russia. Subsequently he was active with major companies in Romania, Mexico, South and. Central America, Canada and the United States. During World War II, Dr. Jackson was with the U.. S. War Department, assigned to the U. S. Air Forces regarding geology and water resources in Nevada and Utah. With this background and his knowledge of western states Johnson selected the Little May property in Tin-t- ic as a likely place for the deposition of commercial minerals. Ore Available Mr. Collins recently issued a statement pointing out that at the present prices quoted for copper, lead, zinc, bismuth, silver and gold and as estimated for an average for some years in the future, the geology of the immediate area, and the actual records of the mine development work, indicate the early start of profitable shipment of ore from the mine." In addition to rehabilitating the mine workings, Tintic Metals has constructed adequate surface buildings, and installed all equipment necessary to conducting a substantial mining operation. Offices of the firm are in the Continental Bank Building, Salt Lake City. Stock of the lessor company, Little May, is listed on the Salt Lake Stock Exchange. It is the expressed intention of officers of Tintic Metals, Inc., to apply for listing of stock in the near future. geology. Dr. , - - Firm Stockpiles Gold Anticipating Price Rise - have followed the upward trend at an accelerated pace. We have had demonstrated to us in a very practical wpy the real meaning of a pincers movement 1 A year ago we looked forward to the postwar transition period with renewed hope and measured confidence. Our men were returning from the armed forces and it then seemed reasonable to anticipate the early resumption of capacity .operations. In that expectation we were disappointed. During the fisical year we milled an average of only 1700 tons per day against a demonstrated capacity of 2400 tons,' and this decreased output was another potent factor adding to our unit costs. Our earnings clearly reflected the adverse conditions above described. Our dividend distribution exceeded the operating earnings by some $290,000. This is not a happy condition or one that can be maintained beyond the limits imposed by the rulings of the Canadian foreign exchange control board, but there is consolation in the knowledge that during the last three years that this unbalanced condition existed, our capital gains have provided effect full compensation and our over the has that During period all financial position has thus been fully maintained. The loss in estimated ore reserves is another and. indeed a more serious matter. Insufficient labor retarded our development program, but the large factor contributing to this shrinkage was the lowered price of gold and the greatly increased so-call- SURVEY EAST 1ST SOUTH TEL miEntered as second clan matter W Pa. The oil PITTSBURGH, industry is , up to the limit in production and demand still continues to increase, Walter S. Hallahan, president of Plymouth Oil Co. and chairman of the National Petroleum. Council, stated here. The oil industry this year is drilling the greatest footage in history in an endeavor to find of and develop new sources crude to meet the projected continued increase in consumption, Mr. Hallahan told members of the Pennsylvania Grade Crude Oil Ass'n. that We are all conscious evenjhis record drilling program is inadequate, but it is restricted and by the shortage of tubular other steel materials, he said. Mr. Hallahan told the crude oil men that we are passing thru a very significant change in our oil economy. The demand for distillate, burning oil and diesel fuels is expanding much more rapidly than is the demand for gasoline, which has previously been the greatest source of revenue. The growing demand for distillate signifies that they are no longer to be regarded as a byproduct of refining. They now take rank as one of the major derivatives of crude. . TORONTO, Canada. At least elasped since our last shareholdone great gold mine in Canada ers meeting. Canadas gold minis stockpiling its gold in antici- ing industry has been swept into of adverse condipation of an advance in the price a black eddy official tions. The Mcprice of our of tiie yellow metal. The in .terms of in Ltd. expressed Mines product, Intyre Porcupine decreased has Canadian dollars,its annual report, as prepared by costs 10 cent while generally and directors per the company sign- ed for them by Balmer Neilly, president, makes the following statement that is certainly of great interest to gold miners thrughout the world: At the present time, the countries in which gold is selling for as little as $35 per ounce are the exception rather than the rule. In many countries perhaps we might say in most countries the value of their currency, calculated at the official rate of exchange, is quite at variance with the comparative value expressed in terms of gold. We hold to the opinion that this trend is clearly indicative, and, as the balance sheet-set- s forth, we have stored gold bullion to the value of apmoximately We believe that, barring discriminating legislation, it is the best security available, and that in the not distant future the successful functioning of exchange upon an international basis will necessitate the adoption of the gold standard of value and that whpn near equilibrium is finally attained, the price of gold, expressed in terms of currency, will be on a higher level than that presently in WESTERN MINERAL . ed $5,-900,0- 00. AT YOUR SERVICE! Oil Leases L M. HILL Butin ei Legal Notices The Western Mineral Survey is qualified as a Newspaper to Subllsh Legal Notices, Having in the Third District Court of Salt Lake County. Probate & Guardianship Notices For Further Information Consult the Clerk of the District Court or Respective Signers. NOTICE TO CREDITORS Estate of DARLENE BAER PETERSON, Deceased. Creditors Will present claims with vouchers to the undersigned at 151 South Main, Salt Lake City, Utah on or before the ,15th day of August, A.D . 1947. . Gravity Mill . We are ready at all times to help you obtain from your electric service the greatest possible benefits at the lowest possible cost. CALL US IF YOU HAVE POWER PROBLEMS Crushing, Classifying, Two Jig Mills and Four Tables Write Wm W Choate, UTAH POre & LIGHT GO. Delle, Utah . TRACT --COLLINS TRUST COMPANY, Administrator of the Estate of Darlene Baer Peterson,- Deceased. Date of first publication, Juno 13. 1947. A.D., Biter, Cewan -A Carter, Attorneys for- Administrator. Rapid western' oil developments are bringing greater profits to companies holding, acreage in the line of these rich discoveries. The Union Pacific Railroad Co.s net income from oil and NOTICE TO CREDITOKS gas operations for the first two Estate of Mary H. Lewis, otherwise months of 1947 amounted to known as Margaret H. Lewis, formerly $1,484,808 compared with $294,-96- 6 known as Ann W. Gaynor, Deceased. Creditor! will present claims with for the like period last year. vouchers to the undersigned at 633 Conrunis still income Oil and gas tinental Bank Building, Salt Lake City, inUtah, on or before fho 15th day of ning at about the same rate, A.D. 1947. dicating income for the year August,GEORGE A. TAYLOR as Adminfrom these operations may istrator of Estate of Mary H. Lew1943 peak. is, otherwise known as H. Lewis, formerly knownMargaret na Ann Oil and gas operations netted W. Gaynor, Deceased. Union Pacific over $6.6 million Date of first publication, Juno 13, last year, an increase of 7.3 per AJ 1947. Aihhb Caan.a, Attorneys.'-- - cent over the net income received from this account in 1945, but was aboat 25 per cent less than NOTICE TO CREDITORS the net in the peak year of 1943. Estate of John D. Lewis, Deceased. the The oil and gas income for Creditors will present claims with vouchers to the' undersigned at 623 road last year was equal to 58 Continental Bank Building, Salt Lako per cent of its interest -on funded City, Utah, on or before the 15th day thecovered debt and preferred of August. A.D. 1947. GEORGE A. TAYLOR,. Adminlstra-t- or stock dividend about 1.7 times. of the Estate of John D. Lewis, Some further idea of the imDeceased. oil Pacifics Union of r portance Publication, Juno 13, 2?1947 and gas business is shown by the AJ). Andersen A Cannen, Attorney!. fact that gross oil and gas rewas about of $16,958,542 ceipts $2.5 million more than the railNOTICE TO CREDITOKS roads revenues from mail and Estate of Eds Leonard Baxter, Deceased. Creditors will present claims with express. vouchers to the undersigned at its bank- ex-ceeff- the unit cost. Blocks of ground heretofore included in ore reserves have been, tentatively at any rate, relegated to waste. So long as this country denies us the right to free export of our product and so long as unit costs remain at their present high level, there can be no immediate hope of improvement in mine earnings. Fortunately our investment portfolio, to the extent that inflation continues, exerts a contrary and compensating ing house at 2nd South and Main Street In Salt Lako City, Utah on or before tee 10th day of October, A. D., 1947. WALKER BANK ft TRUST COMPANY, Administrator with the will annexed of the estate of Eds LeonDeceased- ard Baxter, Date of first publication,. June 6, A. D., 1947. Ingcbretson, Hay, Rawlins ft Christensen. Attorneys. NOTICE TO CREDITORS Estate of George W. Sorensen, Deceased, will- - present- - claims Creditors with vouchers to the undersigned at No,- 1316 Roosevelt Avenue, Salt Lake City, Utah, on or before the 10th day of . October, - A. D. 1947. CLARA B. SORENSEN, Executrix of the Last Will and Testament and of the Estate of GEORGE W. SORENSEN. Deceased. Date of first publication, Juno 6, A. SUBSCRIBE NOW Keep Posted on Mining ond Oil Developments RHdbb and Detailed Information on carront activity of Minos and On Fields. Complain summary ol stocks lug on fho Salt Lake Stock change. . George N. Lawrence, Executrix. - 60 Ton Manager An the news ol the development cl the Intermountain Section, published by The Western Mineral Survey. AS new appearing in the Western Mineral Survey is obtained from sources believed to be reliable but no responsibility Is assumed for accuracy of statements. D. 1947. FOR SALE at Salt Lake CSty, Utah under Act cl March 3. 1879. 2.50 per yeaq Ratee Subscription 1.50 for eix month. Western Please mention Mineral Survey when writing to advertisers, Ad rertlsing ratee on application. trad Ex- ' for Attorney NOTICE TO CREDITORS Estate of Loners J. Cornwall, Deceased Creditors will present claims wltl vouchers to the undersigned at 131 Walker Bank Building, Salt Lake Cltj Utah, on or before the 25th day of Oc tober, A. D.- 1947. Admlnlstra .8.tor N.-of CORNWALL, the Estate of Lenora J Cornwall, Deceased. Date of first publication June 20 - A. D. 1947. NOTICE TO CREDITORS of Joseph W. Mellen, sometimes taoftn as J. W. Mellen, Deceased. Creditors will present claims with vouchers to the undersigned at 409 Boa-tBuilding, salt Laka City, Utah, on AuCUst, A. D. 1947fr th 23rd "tete . on Western Unlisted Quotations. $250 pmtm, WESTERN MINERAL SURVEY IVY M. SMITH, Administratrix of the estate of JOSEPH W. MELLEN, sometimes known as J. W, MELLEN, Deceased. Date of first publication Juno 20, A. D. 7 1947. MeCarty, Attorneys. C. Yemen Lang-lel- s, Apartment hunting for new! ly weds Is not so difficult today. The simple choice they have make is. With which mother-in-la- w stay. |