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Show ft METAL PRICES Lead (per lb.) Gold (per oz.) Copper Zinc, (per lb.) Silver (per oz.) Features Mining, Oil, Financial Salt Lake City, November 28, VoL 23, No. 49 new mined 1952 to October Slat ta thla meat to derived from eourcea regarded aa reliable, not guaranteed, but believed to be comet. Tba Information contained Listed Stocks Big Hill High Low Sales Last Sale 1.60 .09 .06 ,18 .25 .03 .07 .03 .03 .12 125 1.00 . ; .08 .44 .06 Bingham Metals Bristol Silver Bullion Bonanza Oil & Mining. Cardiff Central Std. Chief Con. .02' 57890 275194 308986 82225 48500 3051 .09 .07 .05 .39 .02 .08 .12 .35 .02 .06 1.10 .28 .02 .02 .03 2.12 .08 .12 .09 .02 2.17 .12 2.80 .43 .02 .03 .02 .04 .10 .16 .02 .03 .01 .09 1.15 .08 .01 3.12 10.25 .33 .01 .02 .07 .05 25 .03 .02 9.40 odds 50 Utah Fire day 497 odds Utah P. & L. Com. odds 87 Z. C. M. I xlndicates operating companies. Total shares traded 19,663,130. Dollar value $2,501,042. Cascade Basin Scene Of At Earnings Monazite Development Huge Mine Clayton Theres a new ciy ringing through the square miles of the picturesque state of Idaho these days as te dawn of an Shows Decline atomic era changes the old order of things to meet new demands. Smelting Firm Reports Net Increase 83,557 American Smelting & Refining company this week reported a net income of $22,950,137 for the first nine months of this year. This is the equivalent of $3.86 per common share and compares with a net of $23,420,-20or $4.90 a share, in the same Both Clayton Silver Mines and Sunshine Consolidated, Inc., showed sharp declines in gross sales during the third quarter in reports to the Spokane Stock Exchange .last week. Claytons gross receipts from ore sales totaled only $12,291 for the three months ended September 30, compared with $40,013 the previous quarter and $100,-70- 9 in the like quarter of 1951. The Custer county property was closed by a strike during over half of the quarter, and when operations - were resumed in lead and zinc prices were well below levels which prevailed when the strike start- 0, period of 1951. Income from sales of products 7 and services dropped from last year to $362,300,063, the report for the period ending September 30 shows. Income taxes, U. S. and foreign, were substantially lower this year, partly due to the fact that the company has no excess profits taxes in its 1932 estimates. Estimated income taxes period of for the this year total $20,702,975 as compared with $29,393,708, including $2,105,000 in excess prof its taxes, last year. An item particularly worthy of note in the report is the three-fol- d increase in expenditures this year for research, and examination and development of new mines. In fact, mne months of this year the company has spent $4,042,073 for these ,pur of poses. In the same period tolast year, such expenditures taled only $1,359,119. $399,-600,21- mid-Augu- st ed in May. Sun Con. listed third-quartgross sales of $13,831. This rep- nine-mont- h er . resents a big drop from the $49, 674 in sales reported for the second quarter and is substantially below the $34,714 in the third quarter of 1951. 1 Big Creek Apex Mining company, a Sun Con. subsidiary, reported an increase in sales to $2033 from $1227 in the preceding quarter. In the first three months of this year the firms sales amounted to third-quart- I $5120. er The 'old, hopefifi shout of Theres gold in them thar hills, partner, has given way to Theres monazite sands in them LaFlorecita Ships Ore From Turtle Since the signing of their lease and option last September for the Turtle Mine in the Bay Horse District near Challis, Ida., LaFlorecita Mining Company has built four miles of a road to the main highway d to make operation of the mine possible. Three buildings have been constructed, which include the compressor house, a warehouse and an additional dwelling. Along with this development, the first car (45 tons) of silver, lead, copper ore was received on November 16 by the USSR&M Co. at their Midvale plant which assayed 59.73 oz. silver, 1.5 copper and ile year-roun- 17.5 lead. At present the company is stockpiling another car of ore from the face on the second level and drifting toward three more ore chutes on the third level. Paul W. Gorlinski, who, until recently, was operating a lease in the Silver King Western, has been employed by the company as superintendent and he is now in charge of operations at the Turtle. s The ore stockpiled at the present time assays 73.07 oz. silver, 1.92 per cent copper and 27.6 per cent lead. The company notified the Securities and Exchange Commission in Denver on November 10 of intent to issue securities in the amount of 100,000 shares at 25 cents per unit for sale in all 48 states, District of Columbia, Virgin Islands, Hawaii and Puerto Pico. Purpose is to develop mining properties. -- from the various minerals, both in defense and civilian enterprises. For instance, a product called misch metal, from the German word meaning mixed, goes into the making of high-- STreddue'orereeSSi 1 metals in monazite after the thorium is extracted. Prduct10n of high- more than fifty years. Jj these minerals are Generally referred to as black sands, monazite contains many Sfv,ere RRs es essential m of the rare earth minerals sore- industry.lens prodiic-anly needed by American industry andtlle PR811 of lenses, because of its content of alloys fo5 cigarette fissionable thorium, production Shf is controlled by the Atomic ,to c.lean fl?tsare aluminum strenSth Energy Commission. That means mSnesium, and they help that a producer must have a li- cense from the AEC and that mRe UP ?fIfhV?ht.jKder are chloride is used as sales are subject to the commis- waterproofing sions approval. The government Rare earth fungicide. ?d purchases some of the monazite 1S us?d as a now processed in a magnetic Rr)de c0J'e in Reprocessing plant at Boise and SjJJlJR RRns JJ? 1)0081 bnlis the remainder is shipped to Chi- 0Rlate n . the where frescrd)ed minerals of cago, the Thorium rare earth group are extracted for defense and for commercial Si??6.,!8 u?ed raRe ,thoRd for tubes. jjggfg ' Lanthanum salts are used in In- - addition to thorium, the beauty preparations. sands also yield a wide variety Hmenite, an ore of titanium, g of such things sometimes called the new as ilmemte, magnetite, cerium, Wonder metal. Titanium is the lanthanum, neodymium, sama- - newest member of the structura- rium, europium, gadolinium, ter- - metals group, a mediuimweight bium, dysprosium, holmium, er-- metal heavier than aluminum bium, thulium, lutetium, garnet, an(j lighter than steel and to zircon, and a very small amount goo degrees F., titanium up alloys of uranium. have greater strength for their This rare earth group of min- - weight than any common metal erals is rated high on the list or alloy. Regarded as a natural of strategic materials because of for airborne vehicles and weap- the many uses for products made Continued on Page 2 I I I diggins. Right now its the Cascade Basin, 80 miles north of Boise, Ida., thats a hotbed of activity as the three largest mining dredges in the state go after the monazite. Known deposits in this area indicate 25 years of operation at the present produc. d, Pent tion rate. These Cascade Basin activities have" made Idaho the chief contributor of monazite to indus trial suppliers. Reserves in this area alone may exceed those of either Brazil or India, which formerly supplied nearly all of the demand in the United States. Whats more, surveys in other areas of both Idaho and Oregon indicate vast amounts of the sands, waiting to yield their treasure. Some say these developments are the most important in the states great history of mining, which covers Idahos recent cobalt development, antimony and tungsten' developments, and utilization of silver and lead deposits which have been outstanding producers for 83.25c One Year $2.50 1952 1952; Proves Active Year On Salt Lake Stock Exchange Tear 14.5c .$34.9125 .24.2c 12.5c I I I tongue-torturin- I V V . |