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Show --Tariff Commission Holds Future Of Metal Industry (Continued from page 1) company, that at present prices both metals are being mined at a loss in the Coeur d'Alene district of northern Idaho and the Metaline district of Washington. Quoting from a strongly-worde- d report prepared by the emergency committee,' Schwab said that a domestic zinc price of 16V4 to 17 cents is necessary to sustain profitable operation in the two dis- Drills Bring In New arose because wages in the area are tied to the price of zinc and Oil Sources when the price dropped to below 11 cents a pound, wages fell below . Willis ton Basin Oil Exploration what they considered living wage Company announced their No. 1 standards. They are seeking a new Rollins, Clay County, Texas test contract well is a big producer. A drill The hearing is part of an over- stem test made October 15th, inall investigation of the mining in- dicated a flowing well in excess of dustry problem which the commis- 500 barrels per day. The casing is sion was ordered to undertake last now being set, and the final test summer by house and senate com- will be made in several days. This mittees after legislation to estab- pay is from the Strawn Pool at tricts. e dis- lish a sliding-scal- e Conditions in the tariff was vot- 4700 feet. . The company has an 18K Oklaed down in the house. Information trict of Kansas, Missouri and homa are equally, if not more, developed by the commission is to working interest in the 80 acre critical, according to Representa- be submitted by March 31 to the tract on which this discovery was .) More congressional committees for their made. Since there is a 20 acre tive Edmondson than 100 mines, about 95 per cent guidance in preparing legislation. spacing agreement on this propof the area's operations, are shut The commission may also recom- erty; the company is planning to down, either directly or indirectly mend to the president that relief put down three more wells in the because of low metal prices. Some be provided the industry under near future. Mr. Joseph P. Cole2000 miners are out of work be- ''escape clause" provisions of the man, president, is of the opinion all cause of mine closures, he said, trade agreements act if it con- fqur wells will be producers, and and others are not working be- cludes that the domestic mining good ones. Carter Oil Company announced cause of a labor dispute which industry is being seriously injured. their No. 1 Eyner Nielson wildcat, mile north of located one-ha- lf Duchense City, Uintah County, Utah is a producer. The drill stem test beween 4,516 and 4,600 feet, in the Greenriver The regulations under which the Government, through the Defense formation gave up 3,826 feet of Minerals Exploration Administration, will continue to help finance the oil. The black oil has a 27 degree cost of exploration for new deposits of strategic minerals have again graviiy. been amended to restrict the program to those minerals still in shortest Three local companies have roysupply for defense needs. interests In the Neilson well. alty The new amendments also re- may be summarised as (1) the Ute will receive roughly 5 Royalty duce the maximum percentage of elimination of croddolite and Oil Croff barrel per the government's participation in amosite types of asbestos, refrac- barrels, 1000 barrels produced on the 640 the approved costs of any explora- tory grade bauxite, industrial dia- acre unit on which this well is tion project from 90 percent to 75 monds, and thorium from the list drilled and also on a similar holdpercent, Secrteary of the Interior of minerals previously eligible for on the 640 acre unit to the north assistance, and (2) ing Douglas McKay announced today. government where Carter has a 150 bpd proThe amendment to Section 7 of the shifting of all remaining comducer. Kentucky-Uta- h has a very DMEA Order-- 1 .carries out the modities heretofore eligible or 90 to 110 minor interest amounting recommendations made, by the Of- percent government participation 1000 from the barrel produced per. fice of Defense Mobilization on into the 75 percent category, which same section. August 31, 1953, when that agency group previously included only g Consolidated Oil approved the Department of the manganese and tungsten. a 2 cent declared has Company Interiors request for additional 16th dividend November The also payable pointed out borrowing authority to finance the that allsecretary to of record stockholders October. of record on exploration program through June the date applications of of Amend- 31, 1953. (J. A. Hogle & Co. Minpublication 30, 1954. ment 3 to DMEA Order-- 1 will be ing Dept.) In accordance with Amendment 3 to DMEA Order-1- , which was processed in accordance with the criteria in effect, and T--H published in the Federal Register that the previously in reduction the percenttoday, Government assistance is of age government participation The American Mining Congress, now available for the following for all metals and minerals listed at its recent Seattle convention, and minerals: metals a resolution favoring ten GROUP A, for which the gov- under Group B above will apply to those only receivapplications 50 ernment will contribute proposed amendments to the T--H percent ed after November 3, 1953, Law which would ban "compulsof the approved project costs: C. O. Mittendorf, Administrator ory unionism" in any form; proChromium, copper, and molybof DMEA, reported to Secretary hibit labor monopolies and industry-denum; wide n GROUP B, for which the gov- McKay that during the bargaining; outlaw mass ernment will contribute 75 percent period ending October 30, only picketing and "terroristic devices" of approved costs: Asbestos (chry-sotll-e three applications had been re- in labor disputes; and require the only), beryl, cobalt, colum-biu- ceived for the four commodities president, in "threatened national mica (mus- which are hereafter ineligible for emergency strike or lockout situamanganese, covite block and film only), nickel, government assistance, and that tions," to utilize provisions of the ' platinum, tantalum, tungsten, and during the same four-monperiod law. 48 uranium. percent of all applications reSecretary McKay said the prac- ceived were for minerals hereto- Nickel SUver tical effect of the revision of the fore eligible for 90 percent govThe ancient Chinese were the minerals exploration program ernment contribution. first to produce the alloy known today as nickel silver. They called this metal a combination of nickel, copper and zinc "pak-tong- ," which meant white copper." The alloy was later referred to as German silver and finally as nickel silver. 42-pa- ge Tri-Stat- . . (D.-Okla- Further Revision Of Minerals Program Announced . . November IS, 1MI The Weatern Mineral Surrey, Salt Lake Cify, Utah 2 Utah-Wyomin- i Amendments Canada Plans Decline In Aid To Gold Zinc Output Draws Study Producers Prime TORONTO, CANADA Minster St Laurent has ed that the Canadian government will request its Parliament to extend tiie Emergency .Gold Mining Assistance Act for an additional year. The present Act is scheduled to expire on December 31, 1953. St Laurent stated that the Act was passed to help overcome difficulties affecting the Canadian gold mining industry and the communities dependent upon it and that these difficulties continue to announc- exist Government officials are beginning to show concern over the decline in zinc production, the Amer-ic- al Metal Market reports, not because of the depressed situation in the industry it reflects, but because it will mean a decline in production of geimamium, a rare strategic element for which . demand is greatly increasing. Principal use of the element now is in tranistors, but new applications are expected to accelerate consumption rapidly. Unti 1 recently Eagle - Picher company was the only producer, bunt now there are others entering the field and by the end of next year as many as 10 firms may be turning out the metaL Eagle-Picker- 's output is reported to be down about 63 per cent. Scarcity of the metal is indicated by the fact that the Eagle-Pich-plant at Herryetta, Okla., recovers only one pound for every 2,500,000 pounds of zinc handled. The bureau of mines is searching for new sources in the residue of smokestacks and ash pits of large industrial consumers of coal. Under the provisions of the Act, Canadian mines have the choice of selling their newly mined gold to the mint at the fixed price of $35 (U.S.) per ounce or selling it on the free market. Only those mines selling to the mint qualify for a subsidy on the following basis: (1) The subsidy is payable on one-ha- lf of the gold produced in the current year or In any one of the whichever is greatyears 1948-5er; and (2) the amount of the subof the amount by sidy is one-hawhich the individual mines average cost of production exceeds $18 an ounce, but in no case can the subsidy exceed $13.50 per ounce. The Canadian government has estimated the total amount of subHowe Sound companys net profsidy that will be paid to the mines it for the first nine months of under the terms of this Act during 1953 were only about one-thir-d 1953 at approximately $15 million. what they were during the comparable period of last year, according to a report released last Old Nicks Copper week. Net earnings for the Nickel-coppores found in Saxended September 30 total18th in the ed ony early century orig789,277, or 48 cents a share, Kupfer-Nickel- ," were as known as inally against $2,3i4,968 in the like meaning "Old Nick's Cop- period of 1952. Gross sales were The superstitious miners down to $17,605,150 from $22,676,-06- 3 per. a year ago. Third quarter opgave it this name because the metal obtained could not be hammer- erations showed a profit of $232,608 ed into useful articles and they be- equivalent to 14 cents a share. lieved the devil or "Old Nick" This compares with $576,154, or had cast a spell over their ores. 35 cents a share, for the same When from similar ores a previ- period of 1952. The company has ously undiscovered element was a copper-zin- c operation at Holden, isolated by Crons tedt in 1751, he Wash., and a cobalt-coppmine named it "nickeL" at Colbalt, Idaho. er 0, lf . Howe Sound nine-mont- hs er . er SEND A four-mont- One Dollar Bill m, and receive sixteen (16) issues th Western Mineral Survey By the yoar-$2,5- 2 yean-$4.- 00 0 -- . Eastern Stocks You need no carton tops and we have no silver spoons to give away-- but we will give you mining and oil information that These quotations furnished by J. A. Hogle ft Company, 132 South Mala St. Salt Lake City, Utah. . AB American Smelting $29 A Anaconda Copper 32 HM Homestake Mining 34 IN International Nickel 37 UD Phelps Dodge 34 UTAP Utah Power ft Light 33 should be of interest and prove valuable to you. Unlisted Stocks ' Ton save time on long distance calls when yon CALL BY These quotations furnished by Merrill Lynch, Pearce, Fenner ft Beane, 23 East Second South St., Salt Lake City, Utah. DIG and SEND . . with complete NUMBER. PS, Ash for a free "Blue Book" of personal telephone numbers at ike telephone business office, . ' Name and Address to i WESTERN Th Mountain States Telephone fir Telegraph Co. i ' 'N t . MINERAL SURVEY 222 East 1st So. Street Salt Lake City, Utah |