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Show v Features Mining , Oil , Financial Salt Lake City, Utah, May 8, 1953 Vol. 24. No. 19 One Tear $2.50 Stock Exchange April Transactions On Salt LakeNaildriver Effort Made To Solve Mine Crisis Oil Nev-Ta- h New Park ... New Quincy No. Standard Oil Securities Park Park Park Park Park Park Bingham City Con. Konold Nelson Premier Utah Plumbic Mines Plirtus ........................... .. .... .. xPrince Con. xProsper Oil & Mng. Royston Coaln. .. "Silver King Coalition Silver King West Silver Shield Silver Standard Sioux Mines So. Iron Blossom So. Standard "Sundance Oil Co. ... Swansea Con. Tar Baby - Tintic Central Tintic Lead .01 .08 1.00 .10 .01 i. Tintic Standard xTrans-Unio- n Oil Utah Con. Utah Id. Sug. Cam. Utah Ida. Sug. Pfd. Con. Oil Victor Con. Utah-Wy- .37 .01 .03 .06 o. Western Alloys ' West Toledo Wilbert .34 Williston Masln Oil Con. Yankee .02 Zuma UNLISTED STOCKS Amal. Sug. Pfd. Utah Fire Clay Utah P. & L. Com. Z C H I Indicates operating companies Total Shares Traded 1,045,728 xLeonora : ; Indian Lease Sale Brings Top Figure First of a series of four big sales of oil and gas leases on Navajo Indian land was held at Window Rock, Ariz., this week. At this sale some 60,000 acres of leases were sold, bringing payments of $911,120.48 into tribal funds, according to the Oil News. In all one-hamillion afcres will be offered for lease. Other bids will be. opened on May 12 and 22 next This is said to be the largest lease offering in Indian service history. lf At the April 21 sale, Shell Oil Co, of Los Angeles paid the highest prioe for a single tract, bidding $154,905.60 for 2560 acres in the Four Comers area. The land is situated in Northeast Arizona and Southeast Utah. All leases at the April sale were in those two states, except a few1 small tracts in the Northwest New Mexico sector of the Four Comers area. e price on Average 58,585 acres was $14.30 while the price on the average per-acNew Mexico parcels was $10.87. Following is a .list of the successful bidders, together with number of tracts purchased, number of acres involved, and the price paid: Shell Oil Company, Los An- per-acr- re Utahn Awarded Medal For Heroism At Sunnyside Mine DENVER, Colo. William Boyd Woodward of Sunnyside, coal miner, is one of nine men awarded Medals Utah, a of Honor this year by the Joseph A. Holmes Safety Association for deeds of heroism that saved lives in the Nations mineral J. H. East, Jr., Regional Director of the Bureau of Mines, announced today. Certificates of Honor for approved the awards at its anexceptional safety nual meeting last week in Washachieving records were granted to 45 indi- ington, D.C., East learned from viduals, mines, plants, and com- J. J. Forbes, Bureau director panies of the Rocky Mountain and President of the Associaarea. They won national lau- tion. rels in competition with approxSelected for the Medal of nominated 900 others on Page 2 imately com1952 operating by during panies, national associations, and individuals. The Association, established Week ending May 2, 1953 in 1916 to commemorate and Jolate BINGHAM of work the the further DISTRICT, UTAH diAustin first Combined Metals Reduction Holmes, seph rector of the Bureau of Mines 385 tons. es, Hon-Continu- ed Ore Shipments U. S. Mines geles, five tracts, '12,219 acres, $299,816.69. Continental Oil Company, one, 2436, $17,736.99. Honolulu Midland, Oil Corporation, Texas, three, $191,980. F. D. Jemigan, Dallas, 2560, $7680. 7338, 85-to- one, 48 cars. El Paso Natural Gas Company, three, 6448, $89,598.08. Tulsa, Skelly Oil Company, Gkla., one, 2560, $14,259.20. 8871 tons. Utah Copper (Kennecott) 970 n cars daily average. PARK CITY DISTRICT, UTAH New Park Mining Co. 1884 tons. EUREKA DISTRICT, UTAH Chief Consolidated ore cone., Dragon Consolidated clay-- 25 cars. Empire Mines --ore 2 cars. Mountain View 1 car. PIOCHE DISTRICT, NEV. Combined Metals Reduction The Atlantic Refining Company, Dallas, one, 2568, $2185. i 30 cars. Bristol Silver 1 car. Superior Oil Company, DenCourtesy J. A. Hogle ver, nine, 22,456, $215,221.65. ; & Co. .47 .02 .03 1900 49430 42380 .47 .02 .03 .08 .16 .02 3500 5300 3000 .08 .16 .02 ".01 .07 .95 .08 .01 In .01 .02 .06 lo .02 Some 20 witnesses who testified in Spokane last Monday before a congressional committee investigating current problems of the lead-zin- c mining induswere in striking unanimity try on several points that the Industry is presently faced with a crisis situation which amounts to a national emergency, that the immediate cause of the price decline which brought about the condition is excessive imports o the two metals, and that effective government notion must be taken, immediately, if the industry is to survive. The public hearing, attended by over 100 persons, was held at the Davonport Hotel by the house select committee on small business, with Representative R. Walter Riehlman (R.-Y.) pre-memOther committee siding. were bers present Representatives William M. McCulloch and Craig Hosmer Also with the hearing group were Bynum Hinton, committee counsel, and Carle B. N. (R,-Ohi- , o) (R.-Calif- .). Davis, secretary to Representa- tive William S. Hill (R.-Colo.- ), committee chairman, who was unable to attend. There was somewhat less agreement among the witnesses, who represented mine management and labor and general business in the mining Communities, as to how the crisis could best be met and solved. Manage ment spokesmen appeared to fa-a sliding-scalimport tax as proposed in the Simpson bill to stem the swelling tide of imports, with perhaps some immeor e Dollar Value $149,918.72 diate additional stockpiling to take up supplies currently overhanging the market Labor spokesmen pressed for the International Union of Mine, Mill and Smelter Workers three-poin- t program of relief to the industry through enactment of a premium price plan of individual subsidies such as is emStrong plea for return to the bodied in the Murray bill recentregold standard in the United ly introduced in the senate, miners to lief spethe through States was made by Roy A. cial unemployment federal of Reno before the House Hardy select small business committee grants, increased wages, and a reduction in taxes through highin San Francinsco. er personal exemptions, and deMr. Hardy is president of the velopment of a better domestic Nevada Mining Association. market for the two metals enactment of a substanThe three-ma- n committee is through tial public works program inconducting the hearings in west- volving river valley authorities ern cities to give mining leaders an opportunity to discuss their Continued on Page 2 problems. Mr. Hardy cited resolutions, Electrical Wires adopted by the members of the The electrical wire and cable Western Division, American of United States Mining Congress, and a resolu- department Rubber company has published tion adopted by both houses of booklet entitled new a the Nevada, legislature calling U. S. Electrical Wires and for a return to the gold standand PeOr Chemical Cables the ard. Industries. troleum The resolutions called for resDivided into our main sectoration of the gold standard, retions: Insulation Compounds; moval of restriction on the purJacket Compounds; Construcchase, sale and ownership of Technical Data, the and gold by American citizens and tions; follows the successful booklet the fixing of a ratio between the S. U. earlier of Rubbers dollar and gold by the United pattern coal on book the mining indusStates Congress. The mining congress said, in try. its resolution, that without the The compound sections have monetary stability provided by bene expanded to include butyl the gold standard, other efforts insulation, heat- - and moisture-resistainsulations thermoto check inflation are certain to be ineffective. plastic types the general-purpos- e After quoting that resolution, neoprene jacket, and the Continued on Page 2 poylvinkl chloride type jacket. Urge Return To Gold Standard 76-pa- ge nt |