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Show October The Western Mineral Survey, Salt Lake City, Utah 2 S, 1932 ' Strike Cuts Production Predictions of Paley Report Questioned By Mining Experts Continued from come a Page 1 strong objection to this "buffer stock plan on the ground that such stock overhanging the market would unsettle rather than stabilize the market. In a companion resolution the (principle off a flexibjp tariff was endorsed and it was urged that the price stabilization law be amended so that no ceiling on domestic products be less than the price at which comparable products produced abroad are permitted to be sold in this country. It was on the point of "preferential treatment to the opment of mineral resources abroad that Senator Henry W. Dworshak spoke as a participant in the panel. He said some of the conclusions reached by the commission were "illogical and highly discriminatory and would place our domestic mining industry at a serious disadvantage in contributing to national defense if put into effect. Chairman Paleys statement that the commission encouraged the government to take actions aimed at creating situations favorable to private foreign resources development" he termed astounding. It reflects the basic philosophy and thinjking of the Paley commission, the senator said. Why should the government stimulate expanded production of scarce minerals abroad, while discouraging'' use - of dependable sources at home? In esse of global war, foreign shipments might be blocked, and then we would be entirely dependent upon domestic production. If the latter has been neglected, and essential minerals were not available, our national safety would be jeopardized. Recently, when the Idaho congressional delegation protested the closing down of the Stibnite antimony operation, Jess Larson, administrator of the defense materials procurement agency, replied that antimony is being produced abroad in ample quantities to provide for our requirements. This policy and the Paley recommendation overlook entirely the likelihood that if we rely on foreign production, and our domestics sources remain undeveloped, we face the possibility of monopolistic practices and price gouging, such as occurred in rubber, tin, wool and other commodities in the Senator Dworshak depast, clared. He pointed out that for many years alarmists have been forecasting the depletion of our. mineral and oil resources, but that with proper incentives extensive reserves have been dovel (R-Ida- .) .oped. Therefore, I cannot agree with the Paley commission that our future efforts should be devoted to mineral production abroad while our own vast un- developed deposits should main untouched, he said. the United States should re- If be- - nation dependent upon imjports, it will be the result of inept policies have-not- " which discourage maximum use of American ingenuity and capital in the domestic mining jn-dustr- y. Andrew Fletcher, of St. Joseph Lead 78 questioned the commissions forecast bot ha sto future lead requirements and industrys ability to meet the need. He said the prediction of a 900,000-toannual deficit by 1975 was n a full 700,000 tons too high. Zinc asociation officials have also questioned the forecast of the future situation for that metal. Some measure of the domestic production potential was indicated by Howard I. Young, president of American Zinc, Lead and Smelting company and at the present time deputy administrator of the DMPA, who predicted that by 1955 new government and industry projects will be yielding an additional $1,000,000,000 worth of metal and mineral production to the nations present output. DMPA Ajdministrator Jess Larson, also a participant in the panel, said that by the end of 1953, it was hoped there would be no longer any need for his agency. New Wells Completed In Williston WILLISTON, N. D. Six successful oil wells and three dry holes were completed in North Dakota last week, giving the state 40 producers and a total of 60 wildcat failures since the first test well drilled in 1922. Despite the succession of wildcat failures outside of the Nesson anticline and its three fields, the search for oil continues unabated. Eighteen of the 60 dry holes were drilled to date this year but 12 wildcat wells are being drilled now and locations have been announced for five more. This does not include wells in Beaver Lodge and Tioga fields which meet the technical definition of a wildcat as being a well drilled a mile from production but are extensions of the field. Because so little yet is known about North Dakotas possilSil-itioil companies are retaining the millions of acres under lease, dropping only the acreage in the. immediate vicinity of the dry holes. We dont dare to drop any leases, said a spokesman for Union Oil Co. of California, which drilled four wildcat dusters in Cavalier county last year and recently completed anothtr dry hole in Towner County. He added: e, per cent of stock of Mining EJMS " vyi a a 3 ooi4 FIRE m htd Ptfnj New Listings Activity At Nevada Mines Reported By Shows Gain Mart BATTLE MOUNTAIN, Nev. Spokane Production of lead and zinc has increased recently from properties in the Battle Mountain region. Copper Canyon Mining Co. is milling about 350 tons of ore daily, United Minerals Corp. has shipped 2000 tons of similar ore from the Lucky Strike mine since starting operations, and a number of properties are being explored and developed. Operating, the Copper Canyon property 18 miles south of Battle Mountain, Copper Canyon Mining Co. is producing ore defrom the Honfels lead-zin600 on and the posit levels. The ore carries some silver. Copper Clanyon was Nevadas leading silver producer when it was last operated at capacity, and the state's fourth among copper producers during World War II. United Minerals Corp. of Salt Lake City plans to deepen the main winze at the Lucky Strike 150 feet and conduct 500 feet of drifting. Operations are aided by a government participation contract under Defense Minerals Exploration Administration. The Lucky Strike has produced high grade ore and is credited with substantial ore reserves. United Minerals Corp. recently acquired the Rip Van Winkle mine near Elko and operates the producing Monte Cristo tungsten property in the Hamilton district near Ely. Rich silverlead ore lias been mined in the Battle Mountain region more than 80 years. The The Spokane exchange, only stock exchange in the Pacific Northwest, has recently embarked upon a program of expanding its board listings. Unlisted trading ' privileges were granted last week to Federal Mining and Smelting Company and Homes take Mining Company, with the approval of the securities and exchange commission. Both are listed on the New York Stock exchange. Plans are to add some industrial stocks and possibly oil issues, but the new listings will be predominantly mining issues, according to Louis H. Ilachez, exchange president. We hope to provide wider diversification for investors and eventually rebuild the exchange to its former position, he stated. He pointed out that the number of stock traded on the exchange has been dwindling in NOTICE OF ASSESSMENT recent years, owing to more and MOUNTAIN MINES COMPANY, principal of buslnesa, 21 Soflth West Tem.more consolidations, until at the place ple Street, Salt Lake City, Utah. Notloe is given that at a meetpresent time there are only 31 ing of the hereby Board of Directors held on 8th day of September, 1952. an asstocks being traded, all but two the sessment of one cent per share was levupon the common stock of the corof them mining issues. This is ied poration, payable immediately to George Blunck, Secretary of the less than half as many as were H. at the corporation offices, 21 corporation, South West Street, Salt Lake City, Utah. being called during the '1930s Temple Any stock upon which this assessment may remain unpaid on the 25th day of he said. October. 1952, will be delinquent and adfor sale at public auction, and More than 100 mining stocks vertised unless payment Is made on or before the of sale as hereinafter stated said, not on the board are traded lo- date stock will be sold on the 24th day of No1952, at 2:00 p.m. at the offices cally, by members of the ex- vember, of the company, 21 South West Temple, Moun8alt Lake City 1, Utah, to pay the deBetty1 ONeal near Battle change and they provide ap- linquent with the assessment, tain was a major. silver produccost of advertising andtogether the expense and on daily proximate quotations sale. er in the prewar period and sevMOUNTAIN MINE COMPANY eral other properties were Work- 55 of these GEORGE H. BLUNCK, Secretary, 21 South West Temple Street issues. ed on a large scale. Salt Lake City 1, Utah. lead-silver-zi- nc , c 700-fo- lead-sQver-zin- ot - Legal Notice c lead-silver-zi- Com- production of recoverable lead in the United States in July was 4 per cent lower than the June output, according to the Bureau of Mines, United States Department of the Interior. This reduction occurred despite the rise in the average, price of pig lead, New York, from 15.25 cents in Jung to 16 cents in July. Production for the month totaled 30,405 tons compared with 31,702 tons in June and a monthly average of 32,536 tons in 1951. The average daily rate of production dropped from 1057 tons to 981 tons. Production of lead from the combined Western States decreased 11 per cent to 16,656 tons in July. Colorado, New Mexico, and Idaho reported small increases while the other states noted decreases ranging from 3 per cent to 38 per cent (Utah). Two of the largest lead producers in Utah, Chief Consolidated Copper Co. and Park Utah Consolidated Mining Co., were closed down throughout the month of July owing to labor strikes. The United States Smelting, Refilling and Mining Company property at Bingham, the largest producer in Utah, was shut down for two weeks to allow for summer vacations and also was closed for two days by a brief labor strike. Mine production of recoverable zinc in the United States in July was 5 per cent lower than the June output and 13 per cent below the output for May when zinc was selling at 19.5 cents per pound. Production totaled 55,086 tons compared with 58,063 tons in June and a monthly average of 56,592 tons in 1951. The average daily rate of production dropped from 1935 tons in June to 1777 tons in July. The combined Western States produetd 32,315 tons of recoverable zinc in July or 4 per cent less than in June. With the exception of Idaho, New Mexico and Montana where output increased 8, 6 and 2 per cent, respectively, all of the state reported decreaheg ranging from 1 to 45 per cent (Utah). Two of the largest zinc producers'Tn Utah, Chief Consolidated Copper Co. and Park Utah Consolidated Mining Company, were" closed down throughout the month of July owing to labor strikes. The United States Smelting Refining and Mining Company property at Bingham, the largest producer in Utah, was shut down for two weeks to allow for summer vacationing and also was closed for two days by a brief labor strike. Mine president pany, incorporated in State of Utah. Mining properties are located two miles west of Ely, Nevada, and only a quarter of a mile from KennecottV big open pit Copper Mine. Hundreds of thousands of dollars of ore has been removed .to date. This offer presents opportunity to obtain control for a few thousand dollars. For further information write or call George C. Maw; administrator, estate, Richard C. Badger, 2167 West, 5G00 South, Roy, Utah. -- safety first pWcHSf Company, OPPORTUNITY Estate offers for sale Of Lead, Zinc nc over-the-count- '. er ' |