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Show May 4. 1956 The Westers Mineral Survey, Salt Lake City, Utah Page 5 Beginning Work Promises New Era For Famed Alta District DRILLING Jacobsen, Brown dir. MUCKING LOADING Carlson, Smith aid. Directing: operations. To Exceed 1955 Olympic Resumes Mining, Shipping Atlas, Five Firms Eye Merger Plan - Atlas Corp. stockholders will be asked to vote on merger of their company with five other companies on May 24 in a New York meeting. According to Floyd B. Odium, president and New York financier, Atlas common stock will be converted into four shares of its new common stock if the deal is completed. Include: Merging companies Airfleets, Inc., Albuquerque Associated Oil Co., RKO Pictures Corp., San Diego Corp. and Wasatch Corp. Odium said the board of direc-cludDavid G. Baird, Baird & Co., New York; Robert L. Stearns, Denver, Colorado, e: Olympic Uranium, Inc., Salt Lake City, has resumed shipments of lead-silve- r ore from holdings in the Alta Mining district. According to a company spokesman they will ship one carload per week with shipments increasing as weather and conditions allow. Olympic expects to "far exceed the $75,000 gross shipments made during the last nine months of 1955, during the coming year, officers note. Hand samples assayed from the first shipment last week show the following values: Gold, .01 per cent; Silver, 7.5 ozs.; Lead, 28 per cent, and Zinc 18 per cent. The ore is being , processed , at the International Smelting and refining plant at Tooele, Utah. Olympic anticipates additional development work on 60 acres of land held under lease from West Toledo and Wasatch Mines in the near future. Initial step, spokesmen say, will be to block out additional ore reserves. Development work is also continuing on Olympic holdings in the Yellow Pine Mining district, Clark county, Nev. Values are increasing as work progresses in the main shaft, according to reports. The company recently sold a 50 per cent interest in their Yellow Pine property to an unnamed eastern firm. Exploration is geared to lead-silvand copper. is also Olympic negotiating for uranium property adjacent to the Joker Mine, located in Little Gypsum Valley near Dove Creek, Colo. Olympic owns 100 acres of uranium property near the Miracle Spring mine near Bakersfield, Calif. They are now contemplating a development program for this property. President of Olympic is W. W. Jacobsen, Box 143, Salt Lake City. er head of the Boettcher Foundation; Ray 0. Ryan, San Diego, Calif., former vice president of Consolidated Vultee Aircraft Corp. Phelps-Dodg- e The new company will retain the title Atlas Corp. and will continue as a "closed-enmanagement investment company specializing in Improvements in efficiency and special situations, Odium said. safety, resulting from changes First major interest, represent- made in drilling methods at a of the firms total large Arizona copper mine, are ing described in a Bureau of Mines assets will be uranium mining. Second largest is oil and gas report released today by Secretary of the Interior Douglas Mcrepresenting 12 per cent. A breakdown on the five com- Kay. The report compares past and panies and the stock exchange present drilling practices at the procedure will follow this pat- Morenci Mine of the Phelps tern: operaDodge Corp., an open-pi- t Four of new Atlas common for tion covering almost a square one share of present Atlas mile in the southeastern part of the State. It produces nearly s tons of ore and waste rock of New Two and Atlas for one of Airfleets, Inc.; every day. In the past, large pneumatic One of new Atlas for one share drills, using detachable bits and of Albuquerque Associated; mounted on heavy carriages, were Four shares of new Atlas comemployed to bore blast holes when mon for five and building roads and establishing shares of RKO Pictures; Air and new mining benches. s of new water for drilling were piped into Two and Atlas for one of San Diego; the mine from outside. Atlas new of Thirteen shares Today, the large drills have cumulafor one of Wasatch Corp. been replaced by faster, lighter s machines that use carbide insert tive preferred and one and shares of new Atlas for bits, making it possible to reduce one of Wasatch Corp. drilling crews from three to two men. units, which and water air compressed supply AMERICAN SMELTING & RE- and to carry all necessary drilling have enabled the FINING COMPANY reported equipment, Eirst quarter earnings of $1.91 a mine operators to dispense with share vs. $1.37 a year ago and air and water pipelines. Accorddeclared a quarterly dividend of ing to the report, this permits 75c a share, payable May 31 to savings in time and labor and s of ex eliminates many shareholders of record May 4. non-di-vervisif- d one-thir- Copper Mine Applies Newest Safety, Efficiency Methods d com-mo- n; 140,-00- 0 four-tenth- one-quart- er TRAMMING Smith approves ore. Mineral Fact Book Ready To Sell More than 1,000 pages on "Mineral Facts and Problems comprise the latest and most complete document of mining data yet compiled by the Bureau of Mines. Secretary of the Interior Douglas McKay hailed the volume as a noteworthy achievement. The work of more than 50 authorities in mineral production, processing and economics appear in the book. It has "authoratative findings on more than 85 min Section, Forbes Street, Pittsburgh 13, Pa. It should be identified by number and title. 4800 for these essential materials. Individual chapters, some already released, will be available from the Superintendent of Documents in Washington, he said. City, Utah. 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TRAVIS TVMAII SAN ANTONIO, Call us for details MACHINERY CENTER, INC. CU1 msummwm, CA tilt-trail- er MINERAL RADIO METRIC SURVEYS IK MPH COREDtlUJNO ASSAYING TIXAS ob- tained from the United States Government Printing O f fi c e , Wash., 25, D.C. for $5.75 per copy. It is titled Bureau of Mines Bulletin 556. West Iron On Rise Western states iron ore producers hit a new high in January, 1956, according to Mineral Inposure to serious hazards in inSurveys. stalling and maintaining the dustry Production hit 748,797 gross lines. tons and 783,820 tons were shipThe Bureaus report also discusses blasting procedures at the ped. The producing states include: Morenci Mine and codes of safe California, Nevada, New Mexico, practice in drilling and blasting Missouri, Texas, Wyoming and which workers are required to ob- Utah. serve. Seven illustrations suppleTotals were substantially highment the text. er for January of previous years, A copy of Information Circular except for 1953, a peak year. 7742,. "Safety in Pneumatic Drilling and Related Blasting Operations: Opencut Mine, Morenci Will buy large block of Branch, Phelps Dodge Corp., Bankers uranium stock at current market price. Write Morenci, Ariz. by E. R. RodobA. D. to: Box 2608 co Western riguez and Look, can be tained from the Bureau of Mines, Mineral Survey, Salt Lake Publications-Distributio- n erals, Mr. McKay said, and giving history and possible future 1201 Sooth 6th West Phone nc 01 |