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Show bUKKAU OF MINUS ,,s. ik. r. ;. uA!) QITY ;OFU... IIH SALT LAKE VALLES SMELTER niuai LEAD, Hr Wll ... .... ljH corrKK .... ...... ....... iJ.iii GOLD -- znsc v a . w. SILVER ' (per ee. Bw mImI) SILVER (per ee. epet) - , ..I.IJIr W.M IlSt' WESTERS MINERAL SDRVEZ to Sevpted te the eilaieg tail 0 laSiuirlre pf Utah pal the WaeL A reeaaM af the .patataaSiag to earriei each. week. Features Mining, Oil, Financial VOL 14, NO 22 Salt Lake May 28, 1943 'City,'-Utah- , Real Hope Of Occupied Eurbpe Seen On Bourse $2.00 Year,' $1 .00, 6 Mas. Potentialities In Minerals And Oil v it is , with pointed' out by George Riviere in .an artV Remote spaces of southeastern couhties' possess some of : the steel In stress-partfn pie in last ; weeks issue of' ..the Har- largest mineral and oil reserve which until Pearl Utah, recoils tanks,1 up; gun and a Magazine of Wall Street. considered: cow coun- - In the United States. ' hundred other uses. The Bourses in Paris Amster- bor, were have been ' Production of .vanadium, one soluable Magnesium, changed dam and Brussels, Mr. Riviere try today potash important-metalsin most a the area. to form of th,e has been found industrial it buzzing only fell notes, sharply' after theorig-na- j The area comprises Grapd and the Allied war effort, is in pro-. on the Western Hemisphere) and Nazi invasion, and it took : ' Counties. San Juan', According duction at Monticello and Bland-ing- oil have been proved on the flat time for them to .recover' with near the Crescent Eagle properthe The metal is used to geologists forjner "cow their equilibrium, but "once, they ty southwest of Thompsons. did', their activity Increased so In-- , a section which, up until are the mos? 'that greatly they a few years ago, did not dare 'active-Bours- es 'in the- world in dream of industry being brought proportion to .prewar, business, to towns that range from 35 to brila have and they experienced ' more ' ' than a 100 miles from the bull market long before liant. nearest . railroad, workers London revived while New York are the art of whistle lisslavethe while and. earning Berlin, slept Themining industry was owner,. was restricted in price tening. . urged to develop and enlarge "not movements, for demagogic- reaAt the Monticello plant of the only in itself, but in combination sons. Vanadium Corporation of Amerl- with other industries so that new ca over. 200 men are being emIs of Reason be for will this the mass' discovered and products' ployed In the mill, driving trucks manufactured, tiding a combina- investors whose belief in a brighti and working in the mines. Vana- tion of the' mineral deposit soil er future if clearly 'expressed in dium ore is potholed from an and natural power facilities in the their' market activity, according area which ranges 80 miles in chemical Carl to wha"" Mr: Riviere, notes that' coming age, by. secretary-manage- r Dutch Colonials rise on the' Amany direction from' Monticello- of the Mining Association of Mon- sterdam Utah Colorado, 'New Mexico aiid market after each tana, in an address delivered 'at American '.victory Arizona. the far in Che recent annual meeting of Pacific and Belgian Congo stocks According to Arch Sproul, engi, Montanans,, inc-- i in., Helena. folneer In charge of the Monticello Brussels' in surged upwards Mr.' Trauermanns' remarks were . Allied of the invasion vanadium, lowing mill, 120 tons of vanadirected specifically at the min- North November! last dium Africa, ore is processed every 24 ing industry- of liis own state, , .Nor . does inflation feed .those lours. The metal .rum 1 per but. apply equally well to the in-cent to the on or about ,4,080 fuel, says tparkets dustry:. throughout the West. were declining "We urge that all .this work be Mr, Rivie-e.Thepounds The every 24 hours. which is being paid for the done by private industry, .using ax the new occupation . money, price what government help may was . first-- printed . .. In abunmetal is $1.25 per. pound. only be ' necessary; ' including .some dance. ' For,' ' investors argued; Whether we will be able to government financing .where pri-- ' once . mohey is treated 'in' this the mill in production after ceep vate capital is not available, and cavalier fashion ' by a' relentthe war is over will depend large-- y that: federal and state laws less invader, it is but a prelude on the price of labor. The ' urge be so set up as to further indu- to his seizure of the basic wealth of producing vanadium process stry rather than Obstruct it, Mr. of,'the land. Hence it Is useless is costly ..but .we are optimistic Trauermann said; to against inflation. No oyer. .the .prospects of . staying .in . The speaker- asked that more one hedge, can hedge .against the guillo: attention , be . paid, both durin tines .to. production, Mi. Sproul said, : r in protect.OneselLan:, ' Since the mill came to Monti,and after, the war,, to the deve! vtfstor must assurance have the the. population has doubled. opinent of small mines .as cello, as contract. of of the But, ..war, the aggregate ton-- -. soon assanctity Two housing projects have been the Nazi armies (ailed td nage of these small., mijnes will land in Britain on the south slope of completed fail decisive in the ,be like. the' little .drops of water of. 1910, Bourse turnover1 and the wash south of town. As in arid little grains of sand of the northern industrial areas of the ' . .; nursery rhyme and pointed out prices rose.,!. state, , the problem of -- getting that most of the large- mines When the invasion of Russia Iresh meat, milk and fresh vegewere once small mines. .futile, .a bull proved costly and ' tables in mounting daily. The bewide During' the war,' these' 'sntall market of proportions one goes into the cow deeper mines will depend more or less gan. The Nazi was helpless. He the more difficult it benear-thcountry mar Crescent -- on government'OLD WELL OIL THIS property, Eagle financing, but Was forced, to encourage this bull comes the. products which to .. after the war we hope they will market because it- encourages a soon be producing not only oil, but potash and magnesium for it produces.buy be indiviagain developed by more cheerful disposition! Even the; war effort, with many more like it in Southeastern along Activity at the magnesium-potash-o- il duals, with technical help from if the invader knows-tha- t ' ' " the rise field southwest of Thomp' Utah. ..from the in private industry ,and measures the sons is at high pitch. Five wells Bureau . of Mines and Geology,' hopesquotations Dutchof the Frenchman,' have been sunk in the area, two " ; he said. man, Belgian or Dariq for. ' wells, are- drilling and1 two more Mr. Trauermann. commended he is so fearful of added will be. sunk as 'soon as material the government move, urged by discontent that he must . favor men of- - the mining industry, to this moneymaking. . . . A new method for classifying govern the use of the three term" for the derricks - and casing is . build Measured ore is ore for which available. . If proof were needed that ore reserves has been adopted by stockpiles of strategic metBill Reeder, who has been on als and ' urged that the practice the rise of Bourse activity, as the Bureau .of Mines - and the tonnag. is computed from' dimen.trench- the ground, since before the turn sions in means .of. as a be continued in peacetime, the high as six times pre-wa- r revealed, outcrops, . Geological Survey in federal . government to maintain the case of Lyon and Marseilles, providing a more comprehensive es, workings and drill holes and of the century, and who sunk .. ' for which the grade is computed the Crescent. Eagle well, Is more adequate stockpiles for use in had nothing to do with inflation,, picture: of the Nations mineral In. the results of detailed-samplingof from the . optimistic than ever over the future emergencies, - the stock- -' note the reaction when 'American resources. Secretary, of the field. Lfor , announced Ickes inspection, prospects Harold terior to .e off the normal troops entered Algiers: French ' piles kept Lewis Mack of the Mack Drillsampling, and measurements are markets so as 'not to compete france had been kicking about today. Tlie-two Interior Department so closely spaced and the geologic ing Company, who Is drilling for with- private industry after the the black market at- - Lisbon '.at which have cooperated character is defined so well that the Potash Company of Amerwar.to 500 to agencies, the anywhere from'3Q0 in the discovery and exploration the size, shape, and mineral con ica said today that there is We believe this is a good in- - dollar.- Our government fixed the of millions of tons of. war min- tent are .well established. The plenty of oil in the. southeastern blockrate of - surarrce1 plan and furnishing maexchange for local,' in the four years under computed tonnage and grade are section of Utah and along with erals terials for the stockpiles Will give ed francs in North Africa ' at-- 50 the Strategicpast Materials Act, Will judged to be accurate' within lim- the-ricdeposits of magnesium dollar. rates' those to the True, . employment to labor during any : measured-ore- , its which are stated, and no such and potash in four or five years use terms the continental in not were valid war the readjustment period after ore, .and "inferred limit is judged to differ. from the the area would be one of the but the markets in Vichy "indicated during which a large amount the France, ore computed tonnage or grade by most important in the country. in defining the extent -- of more France jumped at the- correct may be available, Ickes than 20 percent. mineral' Mr. Mack also stated that the isdeposits, Secretary conclusion.' That was that the speaker declared. ore Is ore for which area had really never had a Indicated explained.' The Montanan was highly opSee SYSTEM. on Page-The following definitions will Ser BOURSE on Page 2 chance to be developed to its timistic toward the future of gold highest extent or explored propand silver,' asserting:1 because of the old methods erly war-thmines the After gold 3-Y- ear which have been used tools and will again- be allowed to resume to a short time ago. up should mines these operationsand In a country which has. been give employment to a substansatisfied to run cows and bequite is of men. as it tial number sheep. and dream of a great lieved that gold! will be the in- tourist boom into its scenic wonternational medium of exchange ders after the war, the impact at present or higher prices. The - the - rued and field . crews etched to' fosterirof Mines-develop crews. of industrial development has field of program also Bureau will produce old mines Secre- - trails along the . slopes of the. changed the whole perspective of domestic minerals, ment of three-yea- r which a of amount for comnleted silver, day large r famed tary. of the Interior Harold L. Bear Tooth Mountains for pack Grand and San Juan Counties. oject in the South-estermany .industrial uses have been train to carry equipment. Camps Ickes commented. found during the war, and many Stillwater chromite area of of were the built to house trenching and OH work the of Because an war Montana more will be found after the undertaking of Mines and the Geologi- sampling crews and the Bureaus Bureau be- which aided in the extensive comnow work research through the extensive exploratory project Although sales of petroleum Survey on this project, leading carried on, and new research mercial development of deposits cal a was started. is currently are running United products State:, becoming work on silver that should be estimated to contain 2,500.000 tons of a year ago, full below those ore. the in first chromium their .of year r During post-wacarried on during the of chromium ore: valuable for ing producer is volume crews trenched of the year expected to be in mountains development, It is possible that enough armor plate, airplane engines In its first year period. 1942. It will be t line vith of that Ben and . region' has . turned and ' Stillwater the sampled uses for silver will be found to projectiles, and other- essential aided as for the indicated times of more gains three out bow deposits by the Stillwater than warrant a good supply and war equipment.dehalf. second Industrial ' Strong area was. as ascertained bands that and chromite much produced price rather, tnan a pegged Cooperating with the Geological in the United States during a of chromite were conti nous for mand for fuel oils and expanding other agencies, the price. Survey and of war materials are Mines-provechromite period prior to the war. long distances. In 1940, diamond production of Bureau the gov. factors. The transporfavorable Listing things that Bureau of Mines exploratory drill crews began testing the reserves in the Stillwater project e- nment can do outlook been has tation right now to heTp Meanreimproved for denth. band Stillwater crews chromite anthe entered all industries after ' the war, Mr. equal to about 200 times our as a result of the construction of Conlaboratories after Bureau's few in a the while, 1959, days nual prewar domestic production, gion Trauermann said: the East Coas. Imon gress had massed the Strategic at Salt Lake City, Utah, and pine lines to "First, some provision should which however, supply only in the price structure-ivarprovement Boulder City,- Nev., tested Act authorizing a be made so that present indusr percent of our total needs in'1911. Materials ouest as regarded possible later in jnin-cralfor domestic In revealing the completion of 2 oa the STILLWATER Page Sec year. The is extremely Bee MONTANA on Page territory another phase in the Bureaus "The stock exchangesEurope hive proved the confidence of sane men, through years of adversity and a barrage of one-wa- y nropaganda, to discern the possibilities of recovery and freedom dnd to bear witness ,to that analysis by -- backing it - their-savings- . . s - . air-lane- s, - -- - t. . . , , - : . . - - . v-.v..- - -- . ", ' .' . - ; , with-bullisy . - '- - - - . ..A- . - ... dur-,-jngt- he - . - . . e - . - . . System Of Classification - - - - . . . - The-sites- - ; . . . - . of-labo- - - . Bureau Of Klines Completes e - - , 1 - to -- n Prospects the-Moua- de--man- d . - 20-ye- ar . . - . far-reachi- - s. - s V |