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Show V ' is OF CITY TJ LIBRARY 1 . V ' V?-rl- V . ' " ' V V ?'V ESTEKN - 11ERA - Published Weekly Features Mining, Oil, Financial Salt Lake City, Utah, May ypL. 25, NO. 20. Sunshine Co. Reports Net Profit Gain i i S. L. Stock BPBIL High Listed Stoeka Big HU1 OU A iBwim xBrlatal BUrer . Mxf. Exchange April Transactions 1954 Sales Last Sale Lew 15759 .95 V .9444 M .04 .04 97000 .MVt 65000 .11 .06 .995 Cardiff xNsild river Ner-a- . OU A h xNew Qalney . North lily ... xNo. Standard Tear $3.00 Uranium Ore Bonus Tops Three Million Uranium activity continues at a rapid pace throughout the four xCUyton Silver Colorado Coo. corner area (Utah, Arizona, ColoPremier rado and New Mexico) as reports xCombined Metals Plumbic Mines Comet Coal's . . xPlntns were relayed from the region of xCono. Eureka new ore strikes, new mill build-:n- g OU 4 Mag. xFrospcr and additional companies getCrown Point . . . King ting into the development picture. xBilver Shield xDragon E. Crown Point acEvidence of the wide-sprea- d xSioax Mines in was a contained E. Tin. Coal's report So. Iren Blossom tivity xEast Utah xSo. Standard . . . by Sheldon Wimpfen, head of the xSundanee OU Ca Atomic Commissions Grand JuncEureka Bolllon Sweansea Con. . . xEnreka Lilly Ci Tar Baby ...... 7400 .01 .95 .015 tion office that bonuses paid uraEareka Mines Tintie Central 50SS4 .06 074 .96 Tlntie Lead nium miners operating on the Col1.19 50704 1.00 1 50 Geld Chain xTintie Standard .96 orado plateau had exceeded three 50000 .06 xGrand Dep. . .06 xTrsns-Unlo- n OU 1057 1.60 1.50 1.75 Great Western xUnited Park City and a quarter million dollars. .05 5000 .05 .014 Utah Con. 5.75 505 xHowell 5.75 5.75 Mr. Wimpfen told the Uranium xUtah Ida. Sag. Com. xUtah Ida. Sag. Pfd. Ore Producers Association that a .55 55 1500 .25 Kennebec xUtah-WyCon. OU .05 4000 02 .914 Victor Con. xKentncky Utah of 2,099 payments have been total .0554 .055 .024 51000 Keystone xWestern Alloys .15 50855 made for ore produced on 437 .15 Lakeside Mon. xeWst Toledo If .... xLeonora Wilbert properties. He said the bonus disquarter. .25 47555 Little May xWllUstea Basin 5000 .955 bursements now total $3,289,064. xYankee Con. . . The condensed balance sheet as xMadlson Mines w Kama Magnoll The government makes these Steaks Unlisted of March 31 listed current assets xMaJesUe Oil Mag. xMammonth . Pfd. 8 on the basis of the first agar Amalg. 0 $2,000,-00payments over of $5,233,902, including Miller Hill xUtah Fir Clay of uranium produced Miners Gold 10,000 Com. L. pounds xUtah in cash and slightly less than PA xZ. C. M. a from TRADED' property. ,924,582" Cur1 Moseew that amount in U. S. bonds. Mt. States Dev. 558,160.54 DOLLAK VALUE Commenting on the extent of rent liabilities were $1,240,932. xMosntala View xlndieates operating companies uranium activity in the area, Mr. Stock investments are listed on Wimpfen said there were more the balance sheet at cost value of than 550 mines operating during $544,936, but in a recent report to 1953. Ed. note: This figure has unthe Spokane Stock exchange it was doubtedly been substantially innoted that these stocks had a marcreased during the first 44 months, ket value of $740,563. This report of the present year. The exceptionalso revealed that during 1953 Sunally high rate of activity in the shine acquired stock interests in area can be more fully realized three additional Northwest firms when considering that the United 1000 shares of Hecla Mining com 14 The na- States Bureau of Mines April Washington, reported Operations of .Tintie Standard Mining-Companduring the year papy stock at a cost of $10,269, 1000 metal and nonmetalic minshares of Montana Power company 1953 resulted in a net loss of $78,753, according to the firms annual tionsindustries will meet in San the total of gold, silver, lead, zinc and producing mines, prosfor $23,466, and 250 shares of Mid- report0 mailed to shareholders this week. This compares with net loss ing at the pectscopper Francisco September 20-2371 for the previous year. and dumps at about 63 in the land Columbia bank, Pasco, for 1954 Mining Show of the American state of Utah Lessees mined and shipped 353 during 1953. $25,000. Other stock investments Convention sestons of ore from the Tintie StandCongress. Mining include the cl 300,000 company sions in conjunction with the Exshares of Silver Syndicate, Inc., ard mine and 1816 tons from the Iron Blossom at Eureka, Utah. position will give attention to the 6000 shares of Pacific American future outlook for mining, public income from these operaSanta Fe, N. M. Prospecting Fisheries 1200 shares, United Na- Royalty thoe industry, and tions to amounted affecting policies $2,173. 1000 of for uranium in New Mexico has shares tional corporation, operating practices that will lead reached a fever pitch, with more The companys portion of gross Long Bell Lumber company, 1143 to greater productive efficiency. and than 300 prospectors operating shares of Pacific Gas and Electric, income from five oil one well in Eastland are County, Plans for the meeting rap- Geiger counters in 11 of the states 1000 shares of Bailey Selburn Oil & a and 32 counties. program shape idly taking Gas, 50,000 shares of Trident Drill- Texas amounted to $28,340. Total Laramie, Wyo. A rich deposit revenue from these wells be will sessions convention the 900 for of operating and shares company, ing of has been discovered the Working interest westtitanium, Conductor: How many in this Northwest Airlines, the report was $586,265. of Laramie. Preliminary drafted early in June when been have in chairin committee state acquired acreage berth? showed. program studies show that the ore body, in Cheyenne County, Nebraska; East-lan- d soft sandstone at the foot of Just one. Heres together with national chairPassenger: April production at the Sheep men, Harrison vice R. man Frank Texas; our County, Milliken, presiticket" on page two mountain 23 miles west of here, is County, Texas; Laramie County, the richest so far discovered in dent, Kennecott Copper Corp., New Wyoming and Sweetwater County, this York, N. Y., will meet in San region. Francisco. Wyoming. & The Union Pacific Railroad anBoard of directors of the comto be held in nounced early this year that it The Mining Show, to stockholders ask will apthe Civic Auditorium in Septempany of the Arti- planned development of a titanium ber, will feature the greatest examendment an prove at Iron mountain, about 25 Boston, Mass. Calumet & Hec- cles of Stocks hibition of mining equipment, maIncorporation at the annual deposit a small of Laramie. has miles northeast geological Inc., la, and supplies for the metal meeting, June 8, providing for an The current party searching for uranium in increase strike, covering four chinery stock from the in mines nonmetallic ever and capital Endicott R. Lovell, Colorado, to 2 million shares. If square miles, was made by Brad brought together. More than 140 1,750,100 president, told the annual meeting. the amendment be approved, the Crawford, retired Laramie bust manufacturers will particiOther mining companies are al- new nessman, and John Hardigan, Al- leading with rights stock, pate. Displays will consist of maso looking for uranium on the Colbany county rancher. to the in in actual operation, cutchines stockholders, orado Plateau," he said. Its al- willpurchase The ore is there for the tak- away units and models, and will sale or offered for be subscripmost like the gold rush of 1849." tion in blocks as and when funds ing, Crawford said, It is all sur- range from small items to insure Calumet & Hecla is well on its are needed to restore to huge stripping working face formations with little or no the miners way to becoming a diversified in- capital expended and complete a overburden and no caprock. All shovels thatsafety carve the dustrial company rather than a number of committments connect- we need is a power bucket, a minerals from their metals and resting place specialized mining company, Mr. ed with the following activities: couple of trucks and we are in in nature. Lovell declared. Manufacturing opPurchase of stock of Banner business. This exposition permits mining erations and metal fabrication to an assay According report to compare competitive prodmen two on Continued page through its Wolverine tube division made by the laboratory at the ucts, check up on characteristics, have become its major source of University of Wyoming Natural Re performances and operating costs earnings. sources Researqh institute, the of equipment, and to discuss their content of the ore is 35.5 per cent machinery needs with representaGold and silver receipts at the iron, 28.2 per cent titanium and tives of the manufacturing com WANTED Uranium Claims Denver mint so far this year are .04 per cent uranium. panies. Eastern Company with $300,-00- leading 1953 intake, mint officials The uranium content would be of arranged report. Gold receipts for the first potential value as a byproduct, underwriting four months were up to 326,180 Crawford believes. seeks good Uranium proper8 Dr. H. G. Fisk, director of the GEIGER COUNTERS ties. Will consider merger. Will ounces worth $11,416,331 from ounces worth $10,165,239 and WU laboratory, found the titanium take claims for some stock, To your specifications. Member Salt Lake Stock silver receipts were up to 1,026, content of a sample indicates the some cash out of underwriting 3C tube 10 to clusters, Geiger 334 ounces valued at $928,520 from deposit Exchange might be worth further and royalty. attached to your present 910,836 ounces worth $823,821. Salt Lake Stock Exchange Bldg. investigation." Bureau of mines officials said counter for car or air survey. Suite No. 439 Exchange Place Receipts of gold for April were Giarles D- - Robbins down to 80,622 ounces worth $2, the deposit may be rich but they Salt Lake City, Utah WALKER TV 821,799 from 83,700 ounces worth pointed up the main problem: A1 Care of Daggett Securities Report on Apache Uranium will 75 Bloomfield Ave., $2,929,530 and silver receipts were titanium, particularly that assobe mailed on request Logan, Utah up to 262,000 ounces worth $237,055 ciated with iron is difficult to Newark, N. J. Phone Teletype SU 190 from 105,802 ounces worth $95,633. process. Sunshine Mining company had a net income of $248,678, equivalent to 16.6 cents per outstanding share, for the first quarter of 1954, according to a report released this week by Treasurer Frank M. Hardy. This compares with a net of $217,017, less than 15 cents a share, in the previous quarter and $182,817, or approximately 12 cents a share in the first three months of 1953. Earnings for the period ended March 31 were slightly more than sufficient to cover the 15 cent dividend which was paid, the report shows. This payment amounted to The excess, added to $223,323. earned surplus, raised that figure to $5,222,795 at the end of the O 9 xPark xPark Park Park o Bingham City Con Koaold . -- o. Tintie Standard Extends Interest In New Ventures 0 Active In U v One 14, 1954 Oil, Mining, Chemicals Great Mine Show Set For Sept. -- I, . 4, ( t gas-distila- I t . Rick Deposit Of Titanium Hit In Wyo. te N. M. Uranium ed com-Continu- Calumet Hecla Now In Uranium UNLISTED URANIUM pre-empti- ve -- Gold Receipts 0, Cromer Brokerage Co. 319-00- . f. : J j 4 ft1 |