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Show 1. 1 OF U LIBRARY f UHEU t r? Llt'AAKY uNivrz'ry - r. j 0P UTIJ ' VOL. 25, NO. 15. t Features Mining9 Oil 9 Financial - One Tear $3.90 Salt Lake City, Utah, April 9, 1954 CITV i Published Weekly Administration March Trading Heavier. On S. L. Exchange Praised For Mine Relief Sen. George W. Malone (R., Nev.) praised the Eisenhower administration this week for at long last recognizing the importance of developing a healthy domestic mining industry." He hailed the Presidents new stockpile policy as a step toward providing a measure of at least temporary relief' for the stricken mining industry. ; The Nevada Republican, chair; man of the' Senate subcommittee which for months has been investigating this nations stock of critical raw materials, pointed out that - the administrations plan contemplates utilizing domestic resources to a large degree in filling stockpile needs and represents a ; complete reversal of policy of the former administrations dependency for strategic materials : from foreign sources. The Republican administration is to be congratulated for recognizing the fact that the domestic industry cannot hope to compete 'with the lead, zinc. and other imports flooding this country as a ree sult of foreign labor, the Nevada senator declared. Sen. Malone said that volumin-ou-s testimony before his committee has pointed to the fact that this nation must develop its strategic raw materials if it is to survive another global war. Emphasizing the importance of developing immediately a healthy domestic mining industry. Sen. Malone pointed to the testimony given his subcommittee some time ago by Lt Gen. Albert C. Wede-meye- r, former deputy chief of of the United States army. staff Warning against our reliance on nations outside the western hemisphere for supplies of strategic materials, the general declared: It is unsound for a nation to depend upon sources of raw material that are remote from the nations dynamo, or industrial center, because submarine and air attack could make transportation lines highly vulnerable." .Sen. Malone added that in my opinion, if the agencies directly in Continued from Page 1 low-wag- .. - ' VV y W, a '.Tii rj U U -- Rumors Of Uranium Come From Ely District Uranium reports and rumors are beginning to seep through the Ely area, according to reports. It is said that extensive exploration work is going on around that Nevada community. The New Jersey Lead & Zinc Co. has been in Ely for eight or nine months and the rumor is making the rounds that they ' are there looking for uranium for their operations have been pretty secretive. Unidentified persons visited the Ely Times office recently, it was reported, and picked up 250 1 mine location forms, but would not divulge the purpose to which they would be put, or for what com pany they, were being bought Reliable sources said a prospector found uranium near Currie, but an assay proved it of value because of the heavy limestone content Copper, oil and the possibility of uranium are making Ely an. interesting area and the hot spot of the , non-commer- . state. HUCB-i- Uitod Stock Big Hill iBwuu OU A xBristel Silver m High Lew .06 .04 .06 H(. .7 xBnlUon Manganese Plant Starts Production 484 .084 ,M iS .74 OS .024 Cardiff Control Sid. xChlef Con. xClayton SUver Colorado Con. xCelb. KexaU x Combined Metals Comet Coals xCommoawealth Lead xCens. Enreka Crescent Eagle OU sCroff OU Crown Point . xDragon E. Crown Point 60 At .024 .02 .15 11 2S .17 .044 .014 .06 .064 .164 42 .08 OS 07 .08 184 .01 iS .02 OS 02 xEast Standard E. Tin. Coaln. xEast Utah .074 Mines xEnrcka Bnlllon xEnreka Lilly Con. Eareka Mines .14 .OS .084 OS xEnreka Standard Gold Chain xGrand Dep Great Western 17 .084 02 .09 064 Horn Stiver . xHoweU .2 .02 .06 .05 Indian Qneen Kennebec xKentneky-Uta- h Keystone Lakeside Men. xLeonora xMadisen Mines xMacnela Oil A Mag. xMammoth Miller HIU Miners Gold xMone Kearsarga .64 00 .06 6000 72000 6000 26600 .OS .16 .084 .04 .04 27000 7000 16010 .014 1000. 29000 .02 .88 42 .014 47 n .09 .014 , .08 .89 .014 .06 .75 06 OU 175 xUnlted 254 014 - 424 10 xWst Toledo Wilbert xWUllsten Basin OU xYankee Con. 294 .024 1000 1000 18600 29466 18000 .014 7000 .25 1600 8000 .014 .914 .10 i. 20900 .044 1.80 .02 o. 79860 .02 1424 xTlntle Standard xTrans-Unlo- .084 .06 Sweasea Con. Tar Baby Tintie Central Tintle Lead Park City Utah Com. .064 xUtah Ida. Bag. Com. .22 xUtah Ida. 8flg. Pfd. Con. OU .014 tUtah-Wy.96 Vleter Con. .06 xWestem Alloys .02 2S800 .01 4 .04 .09 .09 14700 26786 17000 S28S .20 014 .OS 29600 .04 .02 .12 .024 .014 .064 production of manganese of specified grade has been maintained on a 67 46 per cent capacity basis and regu.02 lar shipments to points of use have 414 .07 been resumed. The firm intends 1.20 to increase its output 20 per cent 46 1.75 or more within the next 30 days 42 and to full capacity shortly thereContinuous 06 .20 .04 10 10 x Empire The Manganese, Inc., plant near lenderson, heavily damaged by a ire last June, has been rebuilt and modernized and has resumed operations,, the Nevada Mining Assn, reported this week. .21 S9 660 64 20 18600 17 217887 .02 51 nod-uliz- ed after. 46 414 .024 The NMA reported the Summit .10 King Mines, Ltd. had completed a .264 diamond drilling program on the .024 foot level and is negotiating with the Nevada Mines Division of xAmaL Sager Pfd. .OS .04 xUtah Fire Clay ,.04 Kennecott the Copper Corp. for .OS .084 18949 .044 xUtah P. A L. Cess. of Moscow from 15,000 to 20,000 4000 .014 .014 shipment .014 xZ. C. M. L ML States Dev. 04 1000 .04 (xlndlcates operating companies) 44 to the McGill smelter. tons of ore xMenntaln View TOTAL SHARES TRADE 2,107,1 : xNalld river SB VALUE DOLLAR .28 .82 12800 8801,08746. This consists of ore developed above the 300 foot level of the mine. Results of exploratory work and of diamond drilling on the 550 foot level were said to have failed to develop additional ore reserves. The NMA said the tungsten mill of Getchel Mines, Inc., in HumUranium Output Shows Gains boldt county was processing tungUnited Park City Mines Com sten ore at the rate of 1,000 tons High grade uranium ore is being irtoved to the mill by Uranium, pany reports that cost of maindaily, including company and cusOil & Trading Co. and Aladdin Uranium Corp. from a joint project tenance t of shut-dow- n properties tom ore. m the Green Vein and Hertz properties located in the San Rafael for the period May 8 to December district Emery County, Utah. 31, 1953 amounted to $231,577. This Of 150 tons of the ore shipped figure was lowered by royalties, Prospect Indian Lands 75 recently, 75 tons ran 1.11 and rents and interest to a net loss for ALBUQUERQUE, N. W- -A new tons averaged .90 percent' ' U308, the period of $202,757, according to Albuquerque uranium mining firm Mr. J. Walters, Jr., president of the companys annual report to is prospecting Indian lands just 25 the two companies reported in Salt the companys annual report to miles west of here. Lake today. This places the ore John Lynes, president of the New stockholders. well within the accepted profit Reaction in the Eastern United In explaning consolidation of the Canondto Uranium Corp., said the said. making range, hp States to the present uranium de- company and current conditions at firm expects to spend more than ' Mine management and operation velopment in Utah, is tremendous, the mine, along with possibilities $50,000 within the next year in e tract of the Green Vein and Hertz prop- according to Mr. J. Walters, Jr., for the future, Mr. John M. Wal- prospecting the 15,000-acrof Cononcito band the owned who to this Lake Salt returned by lace company president issued the erties are under the direction of Indians. New week where from he Navajo York, and Cutler, prominent Glenny following statement: Ex- spent several days on uranium Consolidation of the former uranium mining operators. The traveling salesmans motto business. Mines Comon Coalition these King properdrilling ploratory Silyer is: Wine, women and slong. . are Eastern people reacting pany and the Park Utah Consolities was conducted under direction industo new the dated Mines Company, located in of the Atomic Energy. Commis very favorably try and are showing intense inter- the Park City Mining District, sion. est in new developments and par- State of Utah, was approved by Announcement by Mr. Walters of in properties that are the shareholders of both com regular shipments of commercial ticularly he said. 'ore," shipping panies and the new United Park ore from these mines was accomwho associated is Mr. Walters, panied by the statement that Alad- with v a number of uranium firms Continued on Page 2 Stocks din would pay a dividend of cent per share on May 20 to stock controlling extensive acreage in was the guest of record May 5. He also said that southeastern Utah, of Mr. Maier and Mr. Jack Julius Uranium, Oil and Trading would Mahr of New York City. declare a like dividend in the very Week Ending April 3, 1954 near future. BINGHAM DISTRICT, UTAH: Operations will be started in the U. S. ' Smelting, Ref. & Mng near future on the Glenny and National Metallurgical company Co.-7- .419 tons. Irene group of claims in the Henry last week shipped from its $1,000,-00- 0 Combined Metals Reduction Co Mountain district, Garfield Coun55 tons. Springfield, Ore., plant what is ty, Utah by Congo Uranium Com- reported to be the first carload of Utah. Copper (Kennecott) 691 pany under a lease agreement aluminum silicon alloy ever pron cars daily average.' with Uranium, Oil & Trading duced in the United States from PARK CITY DISTRICT, UTAH: Company, secured by a substan- materials in this country. Co. 1,708 New Park Mining tial down payment along with The alloy, which is produced in tons. royalty payments. EUREKA DISTRICT, UTAH: bars for use in the manufacture of This project is well financed, Mr. aluminum castings, was made Chief Cons. Mining Co. 45 cars Walters reported, stating that from clay ore mined in California, Bullion Beck, Hannifin Lease some $40,000 worth of equipment thus eliminating the need for im 2 cars. will be moved onto the property. ported bauxte. It had been planned Plutus 3 cars. The company will do its own drill- to use an ore from near Cottage Mammoth Mines 1 car. ing. Califorhia the but Grove, Ore., Empire Mines 1 car. Member Salt Lake Stock This operation will be under the product proved to be of superior Filtrol Clay 22 cars. Exchange cars. R. L. Garity- direction of Mr. J. Jacobsen, prom- grade. Douglas fir wood chips, NEVADA: PIOCIIE heretofore Lake Stock wast has Salt considered a inent mining contractor, who DISTRICT, prodExchange Bldg. Combined Metals been identified with' a number of uct, are also used in the metal-- ' perlite 10 Suite No. 439 Exchange Place Salt Lake City, Utah cars. successful Utah enterprises. Mr. lurgical process. Pioche Cons. Mining Co. Crude The plant has been in operation Jacobsen is president and general Latest reports on Sun Uranium since January with about 30 men Manganese 1 car. manager of the Congo company. Inc., and Federal UraTimco,' U. S. Bureau of Mines Manga employed. will be mailed free upon nium She: I dont think I look 30, do nese 3 cars. request Hows your new girl? Black Rock Mining Co. Tung you deart Not so good. sten 40 tons concentrate. He: No darling, not now, but Phone Teletype SU 180 You always were lucky. J. A. Hogle Mining Dept. you used to." .044 41 SB .064 46 41885 8100 600 59600 Znma , ' High Grade Ore Production Continues From Utah Mines OS Unlisted Stocks 48 .014 550 Huge Cost Entailed In Mine Closing , . - - Eastern People Show. Interest In Utah Uranium -- . UNLISTED URANIUM Ore Shipments Aluminum Shipped 85-to- Cromer Brokerage Co. " . i |
