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Show February 1, 195S The Weiten Mineral Survey. Salt Lake City, Uath Newmont Executive Writes To Walters Texas Group Buys 4-Cor- A sale of uranium mining properties in the Four Corners area was disclosed with the signing of contracts at Grand Junction? by the Central Western Petroleum Corporation of Houston,) Texas, who acquired 464 claims in the Bluff, Utah, section, from P. W. Fleming, geologist of Bluff, and E. Jim Greene and Associates of Palo Alto, California, formerly of Salt Lake the vicinity of Torrey. I sincere- City. The property comprising 9,300 acres in Bluff is estimated ly hope we can find something to have changed hands for about to work on for our mutual benefit, is the concluding remark $250,000. The properties in this sale were of Mr. Manns letter to Walters. owned or held by P. W. Fleming, geologist of Bluff and E. Jim Greene and Associates of Palo Alto, California and formerly of Unlisted Uranium Salt Lake City, residing now at Moab, Utah. Reports published in the uranium Review give the ore reserve value of the properties at Royalties retained by the seller on this basis could run into possibly a million or more, according to estimates. In addition dividends through stock held by the sellers could mean ad- In a letter dated January 25 from headquarters of the New14 mont Mining Corporation, Wall Street, New York, N. Y., addressed to J. Walters, Jr., the top man of the huge mining syndicate, J. R. C. Mann, advised Walters that he expected R. A. Fitzpatrick, mining specialist to look at some of Elaterite Basin Uranium Company properties in $250,000 $12,-000,00- 0. ditional revenue. Reports show Central Western Petroleum operating fifteen producing oil wells and undertaking further exploration at this time. By combining uranium production with oil, this company should enjoy a fairly sound future, it is said, working on the same plan employed by more and more oil men. Vincent Lake of Grand Junction handled, the transaction and has now been appointed representative for the company on the Colorado Plateau. Legal assistance was also given by Attorneys Adams and Anderson of Monticello, Utah. Mr. Green is currently forming a new corporation for development and exploration of other properties located in various sections of Utah, Arizona and New Mexico. He is also acquiring other properties, with exploration work to be carried on during the coming summer. UCOA Merger Awaits Feb. 15th Expiration Date (Continued from page 1) Spokesmen for the UCOA properties, await whatever offer the Federal group may make. In the meantime the UCOA interests are moving ahead with ar- rangements for additional financ- Cromer Co. Brokerage Member Salt Lake Slock Ex. 439 Suite No. Exchange Place Salt Lake City. Utah Uranium Digest Upon Request Ceramic Study At U. of Utah Aid To Processing Consolidation To Merge 606,000 Acres Claims ners ing of their original merger, if such financing becomes necessary, and in the event negotiations with Federal Uranium fail to materialize. Conservations also are reported to have taken place between officials of Alco Uranium Corporation and Federal Uranium as to a possible merger. Reports at present would be absolutely speculative. The steps taken have been limited solely to conversations, an official of Alco said PAGE (Continued from page 1) U-Ore come of $60,000 per month from uranium for the past eight A new speedup process for the extraction of uranium ore. months. The development of better maIt will be a terrific package terials for grinding wheels and if all go in the deal. $1,000,000 sand papers. These are two of cash and a small capitalization, the research projects currently underway in the University of (about 5,000,000) will make an Utahs ceramics department. ideal combination for exploratory Established in 1948, it is one enterprises, was the comment of of the few places in the country an official prominent in negotiat- producing ceramics engineers. Graduates of the department find ing the transaction. production, research and techacto assets the nical sales jobs in almost every Enumerating crue from such a merger, it was kind of industry. Contrary to the popular idea pointed out that Frontier Uranof ceramics, University of Utah ium, now in production, has an in this division do not students income of $40,000 a month from with play figurines, according uranium shipments. to department head Dr. Ivan B. FIVE Merger Ratios To Be Guided By Market Rates of stock certificate exchanges, for the recent merger Interof Utida, Kentucky-Utah- , Western States state, Howell, and Federal of Utah into the newly formed Federal Uranium Company of Nevada, are to be based on prevailing prices on the market, it was announced by Jack Turner, of over-the-count- er Moab, in an interview with the Times-Independen- weekly news- t, paper of Moab. Turner urged that stockholders in the various companies contact the Havenor-Cayai- s brokerage offices in Salt Lake City for exact figures of exchange. He said the rates of exchange published recently in the daily press were not correct. Continuing his conversation Cutler. on the uranium situation Turner Merger of 13 companies would metalIn the with is credited with the following conjunction consolidate ownership of 50,000 comment: the ceramics to 60,000 acres of uranium prop- lurgy department, It is most interesting to note engineers are working on a erty under one leadership with a project for the Atomic En- the effect this merger is having cash reserve of $1,000,000 in the ergy Commission. They are per- on the Salt Lake exchange. The fecting a new flocculation pro- trend is now definitely upward treasury. uran- and I think it is a good and cess which will speed-uIt is reported the proposed ium ore extraction. Another healthy sign. There is no reason merged company, when complet- $7,500 AEC grant involves the why uranium companies, if handof oxides. led on a good sound business ed, would be in a position to ac- recrystallization The Bay State Abrasive Pro- basis, cannot be good, solid blue cept a guarantee made by New ducts Co. has given the ceram-ci- s chip investments. York brokers and underwriters, The wildly speculative stage department $25,000 to develop who are anxious to offer the new materials to use for grind- in uranium is rapidly drawing to a close. Sound business prinstock of the new company on ing wheels and sandpapers. s enof ceramics Utah ciples and good mining University the market in stato further will are tend in the specialists Eastern centers at $1.00 per share. gineers min- bilize the industry. processing of Asked about the coming year Although most uranium com- erals, in making things from the panies connected with the pro- earth useful with the aid of high and what it holds for the Moab posed deal have income, they temperatures. They work with area, Mr. Turner had this to say, have not enough capital to op- glass, Portland cement, plaster, We in Moab havent really seen erate their claims on the stepped-u- brick, tile and other refractory anything yet. This year will make the past year look like we were basis the urgency of a critical materials. 15 are there standing still. However, it will be only uranium shortage demands. Altogether, schools in the United States a healthier and steadier influence Spokesmen in favor of the where training in this relatively on Moabs growth, he conclud- merger pointed out that com- new field is offered. bined mining operations means overhead would be drastically cut, duplication of manpower would be avoided, and the capital structure more efficiently administered from an economic standpoint. The merger actually, to quote sponsors, would make it possible to develop an organization that ultimately should! be Unused Army Surplus Tire Chains a good dividend payer. All Chains Ate As Good As New It is understood, tentatively, Complete Stock of NEW TIRE CHAIN Uranium Comthat Tractor Passenger pany, would probably emerge Any Size Truck as the parent company, and in of Commezcial Chain All Sizes We Stock some respects, dominate the enBindei Chain and Bindeis Tow Chain e terprise. Write oi Call for Immediate Delivery Phone It was learned that ofrecently opened a brokerage fice in the Cocoa Exchange Building at 82 Beaver Street, New Salt Lake City. Utah 1563 South 2nd West York, in the financial district, with Irwin Glasser, recently attached to the Salt Lake staff of Cayias & Havenor, as office manager. Jack Cayias, manager of Cayias & Havenor in this city, indicated the metropolitan office Room 2, Stock Exchange Building will provide his company an opportunity to expand on a naUtah Salt Lake $15,-00- 0 p prac-itce- over-the-count- er non-metal- ic p special 40 to 60 Pet Cent faiAccunt Utah-Vern- al Beady-Mad- Utah-Vern- 84-43- al 11 HAFER'S Inc. Cashin, Incorporated City, tional scale. Reports were also heard on the street today that officials of Mount Peale Uranium company have held preliminary talks with Federal Uranium officials with respect of Federal absorbing Mount Peale. Information and Prospectus On BIG HORN Uranium Furnished Upon Request Telephone J. 22-55- 43 A. HOGLE & CO. Membei Salt York Stock Exchanges Lake-Spokane-N- ew We Specialize In Mining Stocks Loans Mado on Listed Mining .Securities 132 Main Street SALT LAKE Dept. 101 S52S Vineland Are Worth Hollywood. Calif. an 523 West Spragne Ave., SPOKANE 2380 Washington Bird. OGDEN 35 North University. PB0Y0 Vf |