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Show Economic Bloodstream 'About $3 billions will be pumped into the economic bloodstream of tha nation by the end of 1954, if the present trend continues, according to John T. Suite, president of the National Consumer Finance Association. In a midyear industry forecast, Mr. Snite said that licensed consumer finance companies made more cash instalment loans in the first five months of this year than in the corresponding period last year. The Federal Reserve Board reports that total personal instalment loan outstandings at the 0 end of April 1954 were as against $4,004,000000 on April 30 of last year. While this represents an increase of $365 million over last year the fact that less than 1 of all consumer finance loans are defaulted, clearly indicates that the extension of this kind of credit is soundly based, Mr. Snite said. The borrowing public is vitally concerned with the orderly liquidation of personal debt. The American family is using better judgment in budget planning than ever before. It avoids overloading to a marked degree and certainly meets its commitments faithfully. According to the Securities and Exchange Commission, individuals saved nearly a billion dollars more in the first five months of this year than in the corresponding period in 1953. The licensed consumer finance industry, which serves one out of every seven American families, handles 38 percent of all personal instalment loans in the United States. Last year the industry lent about $2,825,000,000 to some nine million people. Increases in both savings and cash instalment loans reveal a rapidly growing trend on the part of the public to use consumer finance primarily to improve Mr. Snite livinng standards, $4,369,-000,00- June, 1954 as reliable, not guaranteed, contained herein is derived from sources regarded believed to be correct The information but stated. Our financial service is as constructive for the average consumer and his well-beinas commercial loans for g, MINING STOCK With about 60 persons present to bid, 375,000 shares of Kentucky-Uta- h Mining Co. stock was auctioned Saturday morning in what probably was one of the largest public assessment sales in recent securities history. asIn May, a sessment was levied so Kentucky-Jta- h could buy a controlling interest in Plateau Mining Co. of Grand Junction, Colo., operating about 20 miles southeast of Moab. The auction Saturday was to dispose of stock on which stockholders declined to pay the assessment. The $113,000 raised in assessments Saturday made the total assesments $526,000, according to W. D. Nebeker Jr., Kentucky-Uta- h president. An average price of 52 cents a share was paid Saturday by the 20 persons who traded at the auction. The last listed price Friday for the stock was 56 cents. Minings vital role in our econblocks were Several 10,000-shar-e snatched up during the two and omy its basic importance to nahour sale. tional security and the industrys requirements if it is to remain strong and vigorous will Quite! It's Vermiculite be the theme of the 1954 Mining program For controlled acoustical Show. The Convention to careful apdevoted be will properties, the New $7,000,000 sitoverall of the mining Mormon Temple now being praisal should and can and what uation, built in Los Angeles will be to mattreated with 12,000 square be done about it both as ters of national policy, and as to yards of vermiculite acousti- means of reducing costs and raiscal plastic. the use of This plastic has a 0.65 ing efficiency through modem equipment. noise reduction coefficient, and adds and Indicative of the importance of insulating qualities to the thig annual meeting will be the to the preseence of eminent members building, according Zokiolilte Company, Chicago, of both Houses of Congress and vermiculite processors. Government officials, who will poin with mining men in this hardrock clinic. . '4 one-ha- Congress Shows Vital Mining IMe lf fire-proofi- ng top-lev- el Hon. Goodwin J. Knight, governor of California and a mining man himself, will welcome con- vention visitors at the opening session. Trends in Washington will be discussed by William F. Knowland and Thomas H. Senators from California, will review the accomplishwho ments of the past Congressional session together with ' legislation of interest to mining to be considered by the new Congress. The Governments mineral policies, which have been under consideration by a special Cabinet' Committee, will be outlined by a top official of the Department of the interior. Off to a start in high gear, the Ku-che- Recent Uranium Quotations IT IS AND HOW TO FIND IT New book' on Uranium in the U. S. 18 full-pamaps 96 ge The above prices are as of IULY 23rd, 1954, and subject to Market Change P. G. Christopulos And Co. P. 0. Box 1782, S. L By 2.50 Exchange Building, Salt Lake City Specializing in Uranium and Oil Securites Member Salt Lake Stock Exchange i pages. successful practicing geologists (cloth postpaid $2.00 (paper) Dept. Cm Utah Salt B, Lake Box 1581. City. Utah con-erenc- es Taxation, will include other Con-propos- ed amendments to the laws afftcting prospecting and mining and milling operations will receive their full attention at sep arate sessions. These will feature new prospecting and techniques . . . improvements in drilling and blasting, including drilla symposium on long-hol- e ing . . . new developments in underground haulage rail, convey-ashuttle-cars- , trucks, etc. Safety, hoisting, mining methods and new mining projore-findin- g r, shaft-sinkin- g, minects, innovations in open-pi- t ing, including large rotary drills, soulage economies and design of heavy loading equipment, and progress in milling and metal exmill design and contraction struction, crushing and grinding, classification, flotation, roasting, pressure metallurgy etc. No mining man can afford to miss these sessions. -- One of the most timely sub- jects slated for consideration at a series of Convention sessions is its developUranium Mining ment on the Colorado Plateau and elsewhere, and the many problems involved in the Atomic Energy Commissions programs with respect to uranium exploration and mining. These sessions will present a full and authoritative picture of this rapidly growing branch of the. mining luding a description of structural controls of uranium ore bodies, prospecting, drilling, and mining methods on the Plateau; a thorough airing of industry-inc- A.E.C.s policies for encouraging production; and a symposium on the metallurgical treatment of uranium ores. In addition to the Colorado Plateau area, a full session will be devoted to promising laws and the Mineral uranium developments elsewhere mining Act. Another panel, on throughout North America. Leasing Practical problems of mining operations on the public domain, including the pending measure to resolve conflicts, between the URANIUM WHEBE l, program will cover a comprehensive range of mining problems. Special panels will bring members of the U.S. Senate and House of Representatives togeth-t- r with leading mining men for informal discussion of several important topics. Round table on the problems of particular minerals will be also arranged fort hose producers desiring to talk things over with oGvemment officials responsible for mineral policies. A Public Lands panel will be featured by addresses from several Senators and Congressmen who serve on the Interior and insular Affairs Committees of Congress. The panel will consider proposed amendments to the laws affecting prospecting and mining operations in the public domain, including the pending measure to resolve conflicts between the mining laws and the Mineral Leasing Act. Another panel, on Toxation, will include other Congressional leaders and industry spokesmen, and will review special features of the tax laws which affect mineral production. A special Tax Conference to discuss the 1954 Revenue Act will also be held on Friday, Sept. 24. Other important discussions wil deal with Labor and Public Relations, Communism, Mineral Tariffs, Stockpiling, Exploration Programs Gold and Silver, and the Outlook for the Mineral Industries. Nonmetalic Minerals will be given special attention and a full discussion on Strategic Minerals is slated for a luncheon meeting. and Prospectors Inveitozs Phones S3, 1954 MONTHLY SUMMARY OF TRANSACTIONS 3 Billion Bound for U.S. . JULY The Western Mineral Survey, Salt Lake City, Utah PAGE TWO - TUNNEL DRIVING SHAFT SINKING UNDERGOUND MINE DEVELOPMENT Mining Engineezs and Contractois and experienced to handle any type We axe fully equipped of underground rock excavation job, large or Investigate oni record of low cost, reliable accomplishment in this field. nll CENTENNIAL DEVELOPMENT COMPANY, INC. Euieka. Utah Tel. Eureka 172 |