OCR Text |
Show HHHU U OF U LIBRARY CITY 1 Features Mining , Oil, Financial $3.00 Moratorium On Uranium Taxes Asked Stocks Active In February On S. L. Market ... FEBRUARY xNaild river 1954 Nev-T- Listed Stocks xBonansa OU A Mnf. xBri.tol Silver xBmUlon North xFark xFark Park Park . opment being pushed by Uranium, prop- Colorado Con. . , . - Continued on Page 2 Zoftolite Co. Mill Zonolite Co. is spending $350,000 to modernize its vermiculite milling facilities near Libby, Mont., according to Raymond A. Bleich, manager of the Libby operations of the firm. The new mill techniques are expected to increase Recovery of vermiculite by about 30 per cent. xProsper xRlce Argentine xRoyston Coaln Stiver King West xSilver Shield xSUver Standard xSloux Mines So. Iron Blossom xSo. Standard xSundaneo OU Co. Swansea Con. Tar Baby Tintie Central i Tlntle Lead xTintie Standard Lit OS .SS 81 45 OU . L85 ............i Com. . . . Sag. xUtah Ida. .Utah Ida. Sag. Pfd. xUtah-Wyo. Victor Con. xXentueky-Uta- h .Western Keystone Lakeside Mon xLeenora Little May .Madison Mines Mscnola Lead A OU xMaJestie OU A Mnf. xMammonth Miller HU1 . Miners Gold xMono Kearsarge . . . . Moscow Mt. States Dev. Com. OU ..... AUoys xWest Toledo Wilbert xWUUsten Basin OU .... .......... ............... Unlisted .Yankee Cm. Zama . xAmaL Sugar Pfd. xUtah Fire day .Utah P. A L. Com. xZ. C. M. L . Stocks 85.25 10 85.25 85.25 (xlndleates operaUng eompanles) TOTAL SHARES TRADED 1.811,215 DOLLAR VALUE - 5177,701.78 . Gordon NEW YORK, N. Y. Dean, former chairman of the Atomic Energy Commission, has recommended that the United States government declare a three-yeon income moratorium taxes for domestic uranium mining ventures. That would mean profits derived from uranium mining would not be subject to income taxes. Speaking at the convention of the American Institute of Mining and Metallurgical Engineers, Dean also called for an increase in the depletion allowance to 27.5 per cent, the same as is allowed for the petroleum industry. He noted the spread in uranium mining in recent years and contended, Uranium no longer is so much where you find:it as where you look for it ;In'i95Q, he said, only four ore bodies containing over 100,000 tons were known. Today 15 deposits of this mag. . . nitude are known, he said to seems on to reason be there will doubt that further exploration reveal others of like size or ar .... xUn. Park City Utah Can. Kennebee View . City Con. Konold . . . xTrans-Unio- n Indian Queen xMountaln Bingham OU A Mng. . : Lily Premier xFlutus Prinee Con. Colb. Re .all erties located in southeastern Utah .Combined . Metals is resulting in production of a good Comet Coaln . .Commoner Tth Lead grade of shipping ore from the xCmm. Eureka OU . . . Crescent Eagle Green Vein and Hertz lease, ac- xCroff OU cording to J. Walters, Jr.( presi- .Dragon E. Point ..... dent of the company. vEast Standard E. Tin. Celn Immediate operations are also .East Utah Fines contemplated by the firm on the .Empire Eureka BnlUon Irene and Glenny claims situated .Eureka LUIy Con. , . . J urea Mines in the Henry Mountain district xEureka Standard This activity will be undertaken as Geld Chain xGrand Dep. Western part of an agreement with Congo Great Horn ISUver Uranium Company under the man- xHoweU agement of Jay Jacobsen of Salt Lake City. Mr. Jacobsen is well known hi Utah mining circles having been active in a number of successful mining operations. The property involved consists of ten mining claims. In addition to this work, Uranium, Oil and Trading Company is making preparations for activity at its holdings in the Bicknel and Torry districts, where prospects are considered excellent for the development of uranium production. This area has distinct advantages due to good roads and living facilities in the immediate vicinity. In making announcement o' these new projects, Mr. Walters reported that activity in the ura nium industry generally, was beunusually- .high ing projected level; due to the intense demand for the mineral. He pointed out however, that a certain amount or OU A Mng. . rark . Cardiff Central Std .Chief Con .Clayton Silver An extensive program of devel- sk xNew Big HU. Pushes Work ! New Mechanical Uranium Ore. Production 'Brain1 Computes Continues To Show Increase larger. Simmons, mining Philip with the Grand Junction Oil Drilling Data gineer Uranium ore is now being produced from bver mines, most of erations office of the AEC, told the . W. en- op- 525 Electronic wizards claim to be perfecting a speedy brain that within a few minutes can tell oil. and gas men where '" toJ drill' wells foiTthebest production.' The machine is fed information concerning underground formations, porosity of the rock,1 gas pressures and other geological data about a known field. Then, operating at 1,000 computations a second, the apparatus determines potential well locations. Dr. C. C. Hurd, director, applied science division, I, B. M. Corp., revealed that tests already are being conducted in with a Calif, oil firm. The Hurd project is semi-secre- t, TULSA, OKLA. URANIUM OIL & TRADING Co. . ' Oh. Year V Uranium, Oil And Trading at C',. 5f 1954 . Oil and Trading Company ' "K Published Weekly Salt Lake City, Utah, March VOL. 25, NO. 10. 7' which are located on the Colorado Plateau in the four corner area with convention that the Colorado Plaprincipal production coming from the Morrison and Shinarup forma- teau uranium province is in a mintions, it was learned this week from a recently compiled report ing boom rivaling the most colorEnergy the- - Chide ful days of the- - early west near- - Moaly vUtah, has been engaged In hitherto a He said the era of the relatively formation, exploration activity m the Pla- - unproductive source. Drilling and uranium miner is over: teau area, where most of the do- other exploration by the CommisUranium mining is entering the' mestic uranium ore is produced. sion and by private operators have period where exploration may exImportant deposits of uranium revealed additional ore deposits in ceed the small mans means, yet ore 'have also been found out- this area. Other important areas of be well within the reach of modside the Plateau proper. Princiexploration activity on the plateau erate capital areas of intensive have pal been the Temple Mountains exploration and ore production district, and the White Canyon, activity have been the Marys vale San Rafael Swell, Circle Cliffs; and High Sulphur Bid A high bid. of $27,060 was offered district in south central Utah and Elk Ridge areas in Utah; Uintah the area in South Dakota and Wy- Basin, Bull Canyon, Polar Mesa, by Duval Sulphur and Potash Comthe Black Long Park, and Jo Dandy areas pany for lease of 440 acres of govoming surrounding Hills. Other centers of potential in Colorado; the Mounment Valley, ernment land in New Mexico for are the Colorado Lukachukai Mountains, and Hol- potash production. The land is importance Front Range, the Boulder Batho-lit- h brook areas in Arizona; and the about 20 miles northeast of Carlsarea, near Boulder, Mont., area around Grants and on the bad, near Duvals holdings. and several widely' separated nearby Laguna Indian Reservation points in Arizona. Recently an in New Mexico. area of widespread ore deposits Ore is being produced from was discovered in the Wind River Basin in Fremont county, Wyo- over 525 mines, mostly on the Colming, and active prospecting is in orado Plateau, with principal production coming from the Morrison Stocks progress, continues the report. and Shinarump formations and On the Colorado Plateau pri- more recently from the' Chinle, vate interests have discoveredl Entrada, and Todilto formations. substantial new ore deposits in Continued on Page 2 the vicinity of Big Indian Wash, . 'mic pick-and-shov- el . . off-plate- au UNLISTED URANIUM . The Company That Owns and FroduceSjthe ' Wonder Ore URANIUM ALADDIN URANIUM CORP. CONTROLS IN EXCESS OF 64 URANIUM CLAIMS For Latest Information, Stockholders of Record, May write 506 Season Building Phone 3-52- 74 Salt Lake Gty 1, Utah Will furnish stockholders of record, on the above claims upon request. r information te, V Member Salt Lake Stock Exchange Write to 506 BEASON BUILDING, Salt Lake City PHONE I Cromer Brokerage Co. , Utah Salt Lake Stock Exchange Bldg. Suite No. 4 39 Exchange Place Salt Lake City, Utah Reports on the above issues will be mailed free upon request. 74 Phone V Teletype SU 180 |