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Show 2 October 19, 1951 The Western Minerol Survey, Salt Loke City, Utah Aerial Prospectors Report New Iron Formations MINNEAPOLIS- Discovery in northern Minnesota of seven extensive belts of high magnetic attraction which possibly indicate rock formations was disclosed Friday by the United States Geological Survey and the Minnesota Geological Survey. tion extends from the northeast Announcement of the find corner of the lower lake near was made along with the Ponemah to the west shore. lie release of seven additional 4. An area 30 miles long and maps based on the aeromagnetic up to four miles wide running survey of approximately 45,000 in an direction along square miles in the northern the south shore of lower Red half of the state which has been Lake. underway since 1947 as a joint d 5. A formation project of the federal agency about 20 miles long by two and the Minnesota survey. miles wide in southwestern Maps released Friday cover Koochiching County north of all of Lake of the Woods county Mizpah. and parts of Koochiching, Bel6. A long, narrow belt, 22 trami, Roseau and Clearwater miles long by about one mile Counties an area of about 6000 wide, lying in an east-weposquare miles. Previous maps of sition in east central Koochichthe aerial survey included some ing County. 7. A short band 10 miles by 25,000 square miles and indicated potential iron formations two miles in Koochiching Counin Itasca, St. Louis, Cass, Hub- ty just south of International bard, Becker, Otter Tail, Mor- Falls. Dr. Schwartz believes rison and Aitkin counties. Min- that this band may be the easting companies are now explor- ern end of an eastward extening several of these indicated sion through Canada of the formations in a search for formation indicated just south commercial iron ore. of Indus (No. 2 above). Dr. G. M. Schwartz, director The seven new maps outlinof the Minnesota Geological sur- ing these promising areas were vey and professor of geology at placed on public display Friday the University of Minnesota, at the office of the Minnesota Friday reported the seven new. Geological Suryey, Pillsbury discoveries in the aerial treasUniversity' of Minnesota ure hunt" for iron resources as Hall, Minneapolis; at the. office of the follows: United States Bureau of Mines, 1. A wide irregular belt ex- Federal building, Duluth; and tending from the Rainy River at the office of the Division of east of Baudette in a generally Lands Minerals, Hibbing. direction for southwesterly about 40 miles. This area ranges from two to six miles in width and is located in the Big Bog country north of Red Lake. We dont knoW exactly what this band of high magnetic atmeans geologiclly traction Dr. Schwartz said, because At conferences now being carthere are no significant , rock ried on by the members of the outcrops in the bog country, to International Monetary Fund give us a hint as to the nature of the underlying rock struc- and the World Bank, it is beture. Extensive exploration by lieved that a new and higher Core drilling will be necessary price for gold is being discussed. It is reported that U. S. Secto ascertain the make up of the retary of the Treasury John W. formations.' 2. A band 30 miles long and Snyder is against raising the goughly five miles wide in price of gold in the United Koochiching County running States above $35 an ounce, its Southwest from the vicinity of present price. However, the Indus to the Lake of the Woods Union of South Africa and Canand Koochiching County line ada want higher gold prices, as where the formation appears to do U. S. gold producers. Secretary Snyder . is of the end abruptly. One of the highthat any discussion on opinion est magnetic intensity readings the gold yet obtained in the aerial sur- await the price probablyof will the completion vey was found in this forma - Monetary Funds' on the study Dr. Schwartz revealed, matter now . lion, Actaking place. fche high reading, 15,000 gamto the Wall Street cording mas of magnetic intensity, was Journal a number of Western recorded in Township 158 United States gold . producers North, Range 27 West in Kooch- and former producers have iching County, he reported. written a joint letter to the di3. A strip 18 miles long and rectors of the International one mile wide beneath the bed Monetary Fund complaining of lower Red Lake in Beltrami about U. S. controls over the County. This indicated forma- - price and sale of gold. DAGWOOD, YOU'LL PROBABLY FORGET TO MAIL THAT PACKAGE BUT AT - iron-beari- ng east-we- T ax Plan Curbs Mine U. S. By Chic Young Blondie BLONDIE--THA- fS T ONE THING I WON'T FORGET IT'S SWELL TO BE ABLE TO DO OUR BIT TOWARD LEAST REMEMBER 70 PUT PLENTY OF Exploration WASHINGTON, D C. HELPING CRIPPLED EASTER SEALS CHILDREN BY on n USING EASTER SEALS gross income. It eads in part as follows: . (4) Development- of Mines. st - Expenditures paid or incurred after December 31, 1650,. in the development of a mine or other natural deposit (other than an oil or gas well), to the extent paid or incurred ' after the existence of ores or minerals in commercially marketable quantities has been disclosed, shall be deductible, on ratable basis, as the units of produced ores or minerals benefited by such expenditure' are sold. In its report accompanying the bill the House Ways and . hook-shape- st Higher Gold Price Under Discussion - sub-surfa- ce SUBSCRIBE NOW . SPECIAL OFFER A TOTAL COST FOR BOTH OF 1 YEAR 2 YEARS Single Subscription $3.00 $5.00" 1 Year $2.502 Years $4 00 TAKE THIS UNUSUAL OPPORTUNITY OF KEEPING INFORMED ON ACTIVITIES IN THE OIL AND MINING INDUSTRIES WESTERN MINERAL SURVEY UVi EAST FIRST SOUTH, SALT LAKE CITY, 4 3 Oft. Kim i liwAidt. I, UTAH i" a k, WM riftof iwwL Means Committee said: Witnesses appearing at the committees public hearings on this bill emphasized the serious tax consequences which result from the requirement that deof thelqpger mines have been velopment costs must be capitalized if incurred while the bottomed. Rev. William Bischoff, S. J., mine is .in the development that chairman of the department of stage. It was emphasized obstathis rule raises a serious history at. Gonzaga University cle to expansion in the mining and an authority on Indian his- industry, The problem is partory, testified that Jesuit mis- ticularly acute at the present sionaries placed the land time because of 'the shortage of many essential minerals and claimed by the Coeur d'Alene the desirability of major develtribe as that contained within opments in the case of certain a radius of Lake Coeur minerals, such as iron. Section 302 provides that exdAlene. paid or incurred aftHe read a letter penditures er December 31, 1950. in the de written by Father DeSmet,' pio- velopment of a mine or other neer missionary among the natural deposit will be deductiCoeur dAlenes, which indicat- ble ratably over-thperiod durores minerals which and the ed that the tribe claimed all the ing benefited by such , expenditures land from the lake east to the are sold. This provision will apBitter Root Mountains, which ply even though the ore or minerals were produced in a year covers the mining district. Among the 43 documents ad- othei than the year of the sale. only when the mitted as evidence on the Spo- This rule applies made after are expenditures kane priests testimony w e r e the existence of ores or minermaps nearly 100 years old one als in commercially marketable showing the boundaries of the quantities has been determined Indians lands as understood by and the development stage has Father. DeSmet in 1851 and one begun. It is not applied to oil prepared by Governor I. I. Ste- or gas wells where the problem vens, also showing the boun- at issue has been dealt with daries, in 1854. through the optional deduction Two granddaughters of Chief of Intangible drilling and develMrs. Mar-celi- opment costs in the year they Andrew Seltice Kevis, Spokane, and Mrs. are incurred. Irene Lowley, Tekoa, identified During House floor considerhand-writta history ation of the bill, Rep. Martin of the tribe written by their commenting on this father, Chief Joseph Seltice, amendment, stated: I vigorouswith their assistance, during the ly approved this action because seven years before his death in it will go far lo encourage de1949. Defense counsel objected velopment of our domestic minto its admittance as evidence ing industry. I feel, however, and commissioner deferred rul- that it is highly important to ing on the objection until a later extend similar treatment to and exploration hearing. prospecting Further evidence will be tak- costs. It is, indeed, my sincere en at hearings in Washington, hope that the Senate Committee D. C., some time this fall. The on Finance will give favorable governments testimony will consideration to this extension. come at a later date. Martin said rhat there is real Exact amount of the Indian need for encouragement of claim has not been revealed, but prospecting, exploration and defrom testimony taken to date velopment of war essential metand scheduled for later it ap- als and minerals. He declared of our pears to be between $25,000,000 that the and $30,000,000. This would nation for defense is more demake it the largest case ever pendent upon the encouragetried under the readjustment act ment and expansion of ourdo-mcst- ic of 1946. mining industry and the In previous cases the Choc- preservation of its productive taws in Oklahoma received strength than on any other sinand the Chickasaws, gle factor. Martin stated that The Utes, who tried the rules followed by the Butheir case under another law reau of Internal Revenue make before the United States court it very uncertain whether these of claims, received $32,000,000. items can be classed as expendiCounsel for the Indians said tures for tax credit, and consethat whatever allowance was quently mineral exploration and made to the Indians would be development in our country has placed in the treasury of the lagged so seriously as to alarmUnited States, and Congress ingly weaken our defense would have to pass a law setHe felt that federal Petition of Coeur d Alenc Indians, Gains Attention j Value of the Coeur dAlene mining district figured importantly in hearings held recently in Spokane on a petition of the Coeur. dAlene. Indians for a readjustment of the $150,000 paid them for this rich mining belt and other lands in 1891. Testimony' before L. J. OMarr and William M. Holt, both of Washington, D. C., members of the Indian Claims Commission, at the two-da- y hearing to establish that ' the sought 320,000 acres of mining land included In the 3,400,000 acres ceded to the government by the Indian tribe by the treaty of 1887 were within the boundaries of the area claimed by the Coeur d'Alene Indians, and that they were worth far more than the government paid for them. Under the Indian treaty adjustment act of 1946 the Indians have petitioned for a judgment against the government for a for the just compensation lands, alleging that the $150,000 was an infinitesimal part of the value, that white miners had trespassed, explored and exploited the lands, prior to 1887, and that the Indians were primitive and uncivilized and had no knowledge or. appreciation of the extraordinary value of the lands. Chief witness for the Indians regarding the value of the lands was Frank Lilly, Spokane, head of the Mines Research Bureau. He said that the minimum value that could be placed on the mining district in 1884, before the discovery of the Bunker Hill mine, was $10,000,000,' and that by 1887, when Chief Andrew Seltice of the Coeur dAlene tribe .signed the treaty the area had a minimum value of . . $15,-000,00- Submit One New or Renewal Subscription Accompanied by One Additional New Subscription. The tax bill as passed by the House contains an amendment to Section 23, Internal Revenue Code, relating to deductions from 0. He placed total production from the Coeur dAlenes to date at $1,350,000,000 and predicted that another $2,000,000,000 worth of mineral wealth would be taken from the districts mines. He testified that metal has been found in five geological structures in the Coeur dAlenes, all of which had been exposed at the time the treaty was signed, whereas most mining districts in North America have only one geological structure. Continuation of the ore deposits to great depths was 'also an important factor in his testimony. He pointed out that while some of the smaller mines had been bottomed because of running into major faults, none - 50-mi- le 75-year-- e ne . 78-pa- ge en (K-Iow- a), . self-sufficien- cy . $2,-500,0- 00 $1,-000,0- 00. self-sufficien- cy. distriting forth the bution to the descendants of the Indians who originally ceded the property. per-capi- ta tax revenues from this source might even increase by encouragement extended under such an amendment. |