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Show t I LWSAUT nr:r ULa; r- - . i in or pt.tti n rj 0 .- t' uiir &.r Features Mining, Oil, Financial VQL. 18, NO. 17, One Year $2.50 Salt Lake City, May 16, 1947 Silver Shield Salt Lake Stock Exchange April Transactions Th Information contained In this die et ta derived from sources recorded reliable, not guaranteed, but believed to be correct. - Low High Listed Stocks Big Hill Bingham Metals Bonanza Mining acBristol . Silver Bullion Central Std. ... Cardiff xChief Con. ... x Clayton Silver ' , xColorado Con. Colb. Rexall .. xCombined Metals . . . ;. . . . . xComet Coal n. ....... xCommonwealth. Lead .... ... . . Crescent Eagle Oil Croff a. Crown Point xCbns. Eureka xDragon E. Crown Point . .xEast Standard E. Tintic Coal n. a.............. xEast. Utah Empire Mines y. xEureka Bullion xEureka Lily Cpn Eureka Mines Eureka Standard . . Gold Chain Sales ...................... os Takes Lease In Colorado xMoscow Mountain View Last xNevada Metals , . , ............. ......... ............ ......... . ',i,.t...... .................. ............... ................ ....... ........... ......... ................... .................. xHora Silver xHowell Indian. Queen ................. . Great xGrand Dep . Kennebec . , Kentucky-Uta- h Keystone xLakeside Mon. xLeonora ..... illtMMI - Magnolia Lead xMammoth Miller Hill xMiners Gold Missouri Monarch a a aa .09 .05 .40 .07 .14 .13 .02 .14 .02 .13 .02 35: 35 32 . .osYd .04 .06 xLittle .May ;09 .03 :o3 y' 30300 22.000 1.000 7.500 5.000 3.000 35 .06 .04 .03 5,848 9.500 2,800 2.500 18,000 3.000 1,900 200 30.000 7300 .05 .45 30 r .04 0)3 Utah Con. .07 .05 .35 .13 .02 .13 xUtah-Wyomin- Con. Oil g. Victor Con. West Toledo xWestern Alloys xW llbert . 32 , 33 .. ..i. . . .. .04 .04 .08 .02 .04 .03 . 31 s' .04 .............. . ...... ....... .....I........... .04 . . 2.02 .04 .02 .09 .10. .04 05 .07 3.75 -- . Sugar Com. Unlisted Stocks 1.20 xNational Tunnel ., xUtah- Fire Clay 66.00 22.00 Utah P. & L. Com. 102.00 xZ. C. M. I. . Total shares, traded: 1360,252. Market xlndicates operating companies. o xUtah-Idah- .09 .03 .04 .05 .45 .06 .04 . . xYankee Con. Zuma .04 .07 .09 .02 .04 .03 .35 2.37 .06 .02 : - . 1.07 66.00 21.25 102.00 value: 3360 2.02 .05 .02 . . . .04 .07 .09 .02 .04 .03 59,600 1.000 13.000 400 31.000 22.500 1,500 2,442 3,000 200 e e e .03 .03 .04 .05 .06 3.75 49,235 13.125 5.000 12.500 5.000 8,526 16.125 . r 31 . 39. e' e e e .03 .03 .04 .05 .06 3.75 .800 1,07 10 66.00 517 21.25 20 102.00 $188,733.38. . Development Meeting Held Bullion Completes To -- Discuss Progresses Oil Property Involving this week consummated an agree- At East Utah Uranium Ores mentBullion Miningfor Company rehabilitation of two Capt. ' L. C. of the licencing chief Burman, of the procurement dibranch vision, .Atomic Energy Commission, from the New York office: Maj. A. P. Donnell' from the Washington, D. C., office, and G. W.. Hunter', representing the commission in the Grand Junc- -' tion area' were in Moab recently, meeting with' some 35 uranium producers of this section. The meeting was ' held in the county clerks office at the county court house. Forms. for making applications for licensed per- mitting the disposal of such ores as may be produced to licensed buyers and processors were distributed to those present. Full out the instructions for ' application forms filling and other procedure incident to the obtaining of the required licenses were outlined by Capt Burman. In answer to inquires from those present at the meeting, Capt. Burman stated that he was not in position at this . time to give the ore producers much .of an idea as to what the procedure of the Atomic Commission will be in the matter of acquiring ore. He ' could not say whether the commission will . actually become the direct purchaser of the ore or whether the ore may be handled through other' agencies. Capt. Burman stated further that certain officials of the commission are now engaged in going into the many complex angles involved in the subject of procurement of raw ma- -. terials and that it ' is hoped an announcement as to policy in this respect can be made in tiie comparatively near future. . The consensus of the producers present was that until such time as they can find out whether or not the Atomic Commission is going to become the direct buyer of the ore and, if so, on what kind of a price schedule, there seemed to be no immediate object in their reeking licenses to MOAB, Utah market ore. . Silver Shield Mining and Milling Company, Newhouse Building, Salt Lake City has obtained a group of mining claims located in Humboldt Basin near Ouray, Colorado, company officials announced today. The claims are held under a lease agreement and are a short, distance from the famous Camp Bird and Revenue mines. Ore Available Engineers' reports are said to. show between 800,000 and 1,000,-00- 0 tons ' of. stocked' dump 'ores which were put aside a generation ago because of the necessity of ' Shipping only the higher-grade ore. Mill tests are said to have shown that profitable and .economical recoveries can be made by treating this tonnage in a modern flotation mill. Obtain Mill In order to handle this available ore, ah agreement has been made with Champion City Mines, Inc., and Lucky Boy Cons. Mining Co.; with whom Urpo Kyto of Duluth. 'Minnesota, , is associated for joint operation of a 250 ton milling plant. This mill is now located at Hawthorne, Nevada, and is' being dismantled for removal to the Colorado property. Mr;: Kyto. was recently elected' president of ; Silver Shield. ; providing . formerly productive oil wells and the drilling of additional tests, M.: C. Morris, Jr., company official announced. The contract was made by Bullion with Howard H. Bell and associates of Bakersfield, California and involves acreage in the Coalings Field, Fresno California. County, Production ' ' The two wells marked for cleaning, repairing and placing oh a production basis, produced We do not yet know definitely up until a year ago when activity ceased upon termination re-of how varied and extensive our the operating contract. It is ported that tiie repair work will mineral resources' are, but we know they are many and vast be started immediately. We have progressed sufficiently To Drill Deep Test to assured of their abundance be Upon completion of the work and that means will be devised new two on the operwells, the available as needators have agreed to drill a new to make them statement was made This ed. unwell to a depth of 4000 feet George H. less oil or gas is obtained at a today in Salt Lake byand Scribe Watson, organizer lesser depth or unless, the of Great American Prospecthe determines it groups geologist Association and mayor of would be to the best interests to tors Romantic" Alta, one of Utahs discontinue. Present plans also famous early day mining camps. one of for the drilling provide Bible tells us that there well to each ten acres of the 120 are The veins for silver, but that acres involved in the contract if gold is where they find it," Mayconditions warrant. or Watson said, continuing: Majors In Area "This condition still prevails Total holdings of Bullion in as any old prospector well knows. this field are 481 acres. Bullions Have ' all the orebodies been benefits from the new contract found? Emphatically no. We will be in the form of ; royalty, have only discovered those payments from production. Sev- which exist where surface indieral major oil companies are cations give certain evidence of said to be operating in the their presence. Hidden beneath vicinity of the Bullion activity. the surface of the earth are vast In addition to its oil interests, deposits of treasure which will Bullion Mining Company con- yet be discovered and opened to trols mining property in the add their wealth to the billions Good Springs District, Nevada. which have already been taken Stock of the company is listed from the hills of Utah. on the Salt Lake Stock "The prospector of today will need more knowledge of geoland chemistry than was An Irishman wrote his brother ogy necessary in the early days, but in Cork: for the rough country the burro America is a wonderful place. is still the old standby." Here I am pulling down a Lutheran church and getting $10 a Humble Oil for it." day . Humble Oil and Refining fel"Whos that Company Tuesday announced it had declared a dividend of 50 low over by the stove? "Hes just waiting for the cents a share, payable June 10 to stockholders of record on May janitor to return with the 9. Still Plenty Of Ore to Find Says the Mayor . , . . . close-mouth- ed new Work of driving the and transportation drainage tunnel into property controlled by East Utah Mining Company has been furthered by Newmont Exploration, Limited, for a distance nearing 1000 feet, a company report recently issued indicates. ' Tunnel Progresses The adit is headed toward a churn drill hole which was completed to a depth of 796 feet and which shows that the diorite porphyry persists to depth. It Is probable that a shaft will be sunk from the area underlying the drill hole for exploration of the lower formations. Control Passes East Utah is now controlled by Newmont Mining Company as a result of the latter company exercising an option in March, 1946, on some 1,134,217 shares of stock. Newmont has since financed the exploration and development program being projected at the property. The firms holdings are located in the Blue Ledge Mining District. Wasatch County, Utah, and adjacent to properties controlled by New Park Mining Company and Park Utah Mining Company. Stock is listed on the Salt Lake Stock Exchange. i ! : . Early Activity Preparatory to the mill oper- ation, the company is said .to have obtained ample water rights in Humboldt Basin and expects, to. have the mill moved and ready for operation by July I . -- W. It is also reported that new developments are under way in Oregon which will have a direct bearing on future operations in the Noonday Mine, in the Bohemia District, near Cottage Grove, Oregon, which is controlled by Silver Shield. It. is anticipated that a custom milling plant will be constructed in this area and will be available for treating ores from the Noonday. Stock of Silver Shield is listed on the Salt Lake Stock Ex- - - J , change. - . When the 'census taker asked another colored woman as to the number and paternity 'of her see. large brood she said: "Les hus-ban, Ah had seven by ma firs five by mah secon and fouh by myself. Take your house number and double it add. 5 multiply by 50 add your age add 365 subtract 615 last two figures will be your age; others are the house number. The absent-mindoffice manager pulled the typewriter down on his lap and began to unfasten the ribbon. ed mimwiitt, Lead Group Elects Officers At the annual meeting of the Lead Industries Association on May 9 at the Waldorf-Astor- ia Hotel, New York, Robert Lind-le- y Ziegfield was elected acting secretary and treasurer. K. C. Brownell, executive vice president of American Smelting and Refining Co., was elected vice president, member of the executive committee and board of directors, D. N. Burruss Jr., general manager of Metals Refining Co., was elected to the board of directors. All other officers and idirectorg were reelected. ! eopprt nVt eaP a, jstrict UT . |