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Show February Stock Trading U. S. Buying On Spokane Mart Takes Large Drop Stimulates", Metals Credit Metal Prices Remain At Unit Urged Same Levels By Legislator Creation Average metal prices for WASHINGTON, . D. C. of a metals credit corporation to allow the government to buy lead, zinc and tungsten at prices based on production costs has been asked of congress in a bill Introduced in the senate by Sen. Ed C. Johnson of Colorado. The bill, similar to one introduced a year ago by Johnson but never acted on, would allow the federal purchase of - these three metals much as the farm crops supported by the jparity program. The Metals Credit Corporation would be under the jurisdiction of the interior department and would, Johnson said, provide a means whereby an important segment of the distressed mining industry of the west would be helped. A stockpile of these strategic metals could be built up, Johnson added, without the need for higher tariffs on foreign imports. The Colorado Democrat said he will ask Sen. George W. Malone, chairman of the senate interior sub committee on metals and mining, for early hearings on his bill. Senator Johnson wants the Metals Credit Corporation authorized to borrow up to $6,750 million to provide a stable market and ready supply of domestic tungsten, lead and zinc. As Johnson plans it the corporation would be set up to buy the three metals at prices not less than the national average. It also would have authority to stockpile the materials and sell them to industrial users in the United . the of month January, 1954, according to E. & M. J. computations, were as follows: Copper, domestic, refinery 29.671 Copper, export, refinery.... 28.767 13,260 Lead, common, N. Y 13.060 St. Louis E. common Ldad, Lead, Lpndon, prompt (g) 86.453 85.794 Lead, London, (g) Zinc, Prime Western, 9.760 E. St. Louis Zinc, Prime Western, : 10.260 delivered (h) Zinc, London, prompt (g) ..73.022 71.666 Zinc, London, (g) : 85.250 Silver, N. Y., per oz Silver, London, per oz :..L 73.750 Sterling exchange,. checks281.163 o. o. 84.830 Tin, N. Y., Straits....:. 83.830 Tin, N. Y., 99 Gold, per oz., U. S. price.. ..$35. 00 Quicksilver, N. Y., per flask, $187,360 76-l- b Antimony, N. Y. boxed (d).. 31.970 Antimony, bulk, f.o.b Laredo Antimony, Laredo Platinum, Cadmium Cadmium Cadmium 28.500 boxed, f.o.b refined, per (a) Prospector . Trading on the Spokane stock exchange during January was 41 per cent below the December leyel in number of shares traded and about 33 per cent down in dollar volume, according to Ben Harrison, exchange president. January volume totaled 448624 shares with a value of $383,282, compared with 759,990 shares valued at $570,223 in December. In January a year ago business volume totaled 603,243 shares aggregating $423,249. Sunshine Consolidated headed the' list in number of shares with a total of 69,470 shares. New Hilaritys 52,500 shares was good for second- - place and Clayton Silver followed with 33,900 shares. In dollar volume Bunker Hill was the leading trader with $83,310 worth of stock changing hands. Sunshine, with a total of $77,851, was next whille the Sunshine Consolidated turnover totaled $39,716 for third place. 29.000 oz $90,160 200.000 207.500 :.... 215.00 .260.000 21.500 27.000 ... 60.000 2.25 19, 1154 Makes New Uranium Find Metal Search uranium strike termed by the Atomic Energy- - commission as so one of the most significant Coloof far on the eastern slope rados Continental Divide is being worked eight miles northwest of man Who Golden by a until last month was a school janitor. Fred Schwartzwalder, who resigned as janitor at Golden high school, has sold one carload of good ore through the AEC for shipment to the Vitro Chemical Co. in Salt. Lake City, an AEC ' spokesman said. While terming the strike significant the AEC would not compare Schwartzwalders findings with discoveries announced last April near historic Central City. rock hound and rare A part-tim-e metals miner, Schwartzwalder has Manganese quietly combed the Colorado foothills for 30 years during vacations Manganese is accepted at four off from his' janitor weekends and depots: Butte and Philipsburg, chores. Montana; Deming, New Mexico, and Wenden, Arizona. The quantiThree years ago Schwartzwalder ties authorized are 6,000,000 long hit on property owned by Paul ton units (22.4 pounds each) of White of Golden, lip Ralston Creek contained manganese for Butte northwest of Denver. The mine and Philipsburg together; 6,000,000 site was leased from White and a long ton units for Deming; 6,000,-00- 0 Defense Minerals Exploration loan to build long ton units for Wenden, and was made to the the ton units for to road the prop-- . a 19,000,000 long carload program. Delivery to date: erty. Deming, 789,618 units, Wenden, '.Schwaltzwalder now has two 2,089,283 units. Carload program, miners working for him on an557,252 units. but on other carload of- Chrome weekends for the past three years Chrome ores and concentrates he burrowed alone with a shovel tunnel to bring out are accepted at a depot at Grants on' a. 100-foto date: assayers samples of uranium dePass, Oregon. Delivery tons. posits.' 46,640 .long " ' The AEC said studies have been Beryl ' demade, both by the AEC and the Beryl is accepted at three S. Geological Survey, for fuU. pots: Franklin, New Hampshire; Custer, South Dakota, and Spruce ture uranium exploration in the Pine, North Carolina. Delivery to Ralston . Buttes area where date: total, in terms of program, Schwartzwalders find is located. ' 145 short tons. Quantities brought through December 31, 1953 under the governments purchase program for domestic tungsten, manganese, columbium-tantalnchrome, beryl and were announced recently F. Mansure, adminisEdmund by trator of the general services administration. The programs were established to stimulate the search for and production of strategic and critical materials in the United tSates. These programs, it'Was pointed out are separate from the exploration program of the defense minerals exploration administration. : Tungsten Tungsten concentrates under the government purchase program are accepted at various milling points, mostly in the West. Delivery to date: 599,893 short tons units. A - m . . New Jersey Zinc New Jersey Zinc company last authorized payment of a week dividend of 50 cents on March 10, to stockholda share (c) ers of record February 19. The Cobalt, 97 grade which is associated with the firm, Aluminum, 99 grade Hecla and Newmont companies in Magnesium ingot the Atlas project near Mullan, paid Nickel (f) dividend in the fourth a similar Bismuth, per lb of last year. In the three quarter (a) Average based on producers' previous quarters 75 cents a share quotation, (b) Average ofproduc-er- s was paid. and platers' quotation, (c) Average of quotation on special shapes to platers, (d) domestic, 5 tons or more but less than carStates. load lot, boxed, (e) Price for tin Coatbned from Page 1 contained, (f) F. o. b. Port includes U. S. duty, (g) Avof profits. These quotations furnished by j. a. erage of daily mean of bid and ask Decision to enter the uranium Hogle ft Company, 132 South Main St. quotations, per long ton, at mornBaft Lake City, Utah. field was reached by the comAR American Smeltlnf 29 ing session of London Metal ExA Anaconda 31 in 1953 when it beHM Homestake Mining 35 ft change. (h) Delivered where panies early came IN International Nickel 37 apparent that the creeping freight from E. St. Louis exceeds PD Phelps Dodge 33 decline in base metal prices was Columbium-Tantalu0.5c. UTAP Utah Power ft Light 35 Take Columbum-tantaludangerously affecting each of the ores and Huge Gambling CARSON CITY, NEV. Nevadas companies operations" in the lead-zin- c concentrates are accepted in small Sunshine legalized gambling' industry grossMining field, the letters state. . lots at three depots: Custer, South. These quotations furnished by MerrlU ed Sunshine $84,000,000 from proapproximately Mining companys Uranium Lynch, Pearce, Fenner ft Beane, 129 So. was found to Dakota; Franklin, New Hamp- its Main Street, Salt Lake City, Utah. and slot maduction last month totaled 21,673 offer several mining tables gambling advantages, including, shire, and Spruce Pine, North Car- chines 1953. tons of from ore,during First Sec. Corp. Class A including output almost unlimited and steadily oling. Delivery to date (foreign Mountain Fuel adjoining properties which the growing demand, and government and domestic combined): 3,485,507 Utah Oil Refining 22.75 Utah Southern OU company operates oh a profit-sharin- g guaranteed prices and markets, pounds of contained combined Tin Z. C. M. L Imports . basis. This represents a 8.75 Equity Oil plus M. P. Malayan government incentive bon- columbium-tantalupentoxide has SINGAPORE, Justhelm December decline from the slight uses. been authorized. Western States Ref. tin U. S. last, year to. the exports total of 23,716 tons, but isstill Utana Basin OU ... The coalition of was the in were three years, OU companies highest Morgan above the 9153 monthly average then formed to 3.25 Ute Royalty The trouble with Father Time is according to Straits Trading Co., the investigate 45 English OU output of approximately 20,800 Four Corners area of the Colora- that he doesnt make round 32 Aabley VaUey trips. one of Malays two tin smelters. tons. Uinban-Wy02 .03 do plateau, and after basic information was assembled an engineering staff was sent into the area for the purpose of, acquiring a suitable property. Investigations in the La Sal mountain area, including an exam ination of the famous Utex (Steen) mine, led to the acquistion of the Hot Rock and Radon groups which total 45 lode claims embracing 800 22 Yx East 1st South Salt Lake City, Utah acres in the same major forma tions as the producing Utex mine less than three miles to the southPUBLISHED ONCE EACH WEEK east. Nearer is the Cal Uranium property which has been drilled and proven by the AEC and is now Late News, Quotations, Information Service, on under development with California capital and adjoining the Hot Rock Mining, Oil, Financial claims, on the south is the Hudson r property on which-onhole reportedly cored the best ore showing LET KEEP POSTED ON THE GREAT URANIUM BOOM thus far drilled in the La Sal area. The six companies, .which have combined assets of over $2,800,000, $3.00 One Year $5.00 Two Years mostly in properties, plants and Our electric power consultants wHI equipment, are sharing equally ' in the cost of the venture and . will' gladly give you sound advice on similarly' share in any benefits Subscription Order electrical applications without cost. which are derived. Cash outlay for the Utah exploration is expected Enclosed find for which send me Western to be small for each company, w5th six firms participating. ' Mineral Survey for..... Each of the companies is protecting its 'other properties and as:... ; ; Name . sets during the present period o' 7 emphasis on uranium interests, aladdress ' though operations have been dras-t'csll- v v una:MT0aBQ curtailed if not entirely sus-- . Mai ftfo .... wfc, pended, stockholders are advised. (b) first-quart- er ex-janit- or four-mile-lo- A-or- e, . Wallace . . . Col-born- e, Eastern Stocks ot . m m . Unlisted Stocks - .... m o. 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