OCR Text |
Show PAGE TWO Ths Western Mineral Survey. Salt Lake City. Utak AEC Power Supply (Continued from Page 1) Treated Ore drilling have not been submitted. Consolidation of the resources of Sun, East Lisbon, Bow Knot and Cactus Uranium corporations was completed November 18. First results are now discernible The new company, has over $260,-00- 0 in cash, $10,000 worth of mining machinery and equipment and about $13,000 in accounts receivable. The consolidated organization has been named Sun Uranium Mining Company. Officers are President Harry G. Metos, Vice President Tom P. Costas, Secretary, Robert- L. Cranmer and Treasurer, B. N. Meldrum. The Board of Directors includes all of - LP-Gas- Uranium Development (Continued from Page 1) pnd conclusion of such a program will include programing of drilling thru geological and geophysical surveys, bore hole sampling, core analyses, resistivity logging; Geiger counter logging, and scintillation counter logging of bore holes. The company is also Of the total, 234 million gal- in a position to arrange for the of claims and the sulons was concentrated in Missis- surveying of pervision development work sippi. Lousiana, Texas, and New subsequent to the location of a Mexico, and the rest was dis- possible commercial o rebody. tributed through New York, Ray Drilling Company main, tains its headquarters at 343 Michigan, Illinois, Kansas, OklaSouth State, Salt Lake City, and homa, and Montana. is in its ninth year of operation Underground stocks of propane with drills running in Utah, Wyrose to 189 million gallons and oming, Colorado, and Arizona. those of butane-propanmixture It is associated in its geophysical to 34 million gallons, increases of projects with the Exploration 13 million gallons and one mil- Service Company of Bartlesville, lion gallons respectively. Butane Oklahoma. The Company recentstocks decreased to 58 milion gal- ly concluded a large drilling prolons, a drop Of 11 million galr gram for Consolidated Uranium Ions. Mines at Temple Mountain, Utah. Underground stocks of UN gases on September 30 totaled 281 million gallons, an increase of 3 million gallons over the previous month, according to the Bureau of Mines, United States Department' of Interior. UNLISTED URANIUM Stocks . , DEVELOPMENT A Complete Service to the Uranium Industry . Dial 5-93- Mining Hi-Lit- es being sunk by SILVER BUCKLE and NEW PARK, with final rounds disclosing encouraging mineralization. A station is being cut, after which the shaft will be deepened 50 feet for a sump before crosscutting will get under way early next month. Buckle reported continued favorable deveflopL ments at the Wyoming property of Lucky Me Uranium, in which it has about a 9 stock interest. BUNKER HILL & SULLIVAN net earnings were up 49 for the first nine months over the same period of 1953. Net was $1,323,506 or 9?c a share, vs. $904,079 or 65c last year. This was accomplished with lead averaging 13.7c a lb. and zinc 14.2c Third quarter net was $410, 85b, or 30c a share, at average lead price of 14.2c a lb. and zinc at 11.3c. Nine months sales ct metals totaled $26,106,441, against $23,601,773 last year. Quarterly reports can be expected regularly hereafter. Its a new company copper-lead-silv- er HOWE SOUND CO. declared a r dividend of 10c a share, payable Dec. 10 to shareholders of record Nov. 30. fourth-quarte- policy. SUNSHINE MINING COMP. Amounting to $163,803, the disANY shares were in sudden de- bursement will boost total dividmand at higher prices late yester- ends to $44,249,814. The stock hit a new high for the year of $17.25 today, up $5.75 from the years low. Output of its atomic metal cobalt is being stepped up to day in eastern markets. Turnover was 11,900 shares, valued at $120,000. One SOOOshare block sold at $11, compared with an opening price of $10. No reason was reported. The stock moved to the $11 mark today. commercial proportions. CALLAHAN ZINC-LEA- WESTERN SILVER-LEAB shares bad largest turnover at the Spokane Stock Exchange, 50,-0hanging hands during a single day. BUTTE HIGHLANDS also accounted for considerable volume Western Silver directors in Wallace levied an assessment of c a share on B shares and said a letter to stockholders next week will disclose details of a deal by which the company hip acquired an Interest in a third group of claim hi Utahs uranium region. SILVER RIDGE MINING CO., LTD., announced the leasing, with an option to purchase, of 57 uranium mining claims in San Juan and Wayne counties, Utah. Access roads are in a mining camp is being shared with other firms to reduce operating costs, and drilling operations are scheduled to start soon. The firms geologist reports conditions are excellent for production. Further improvement in base metal prices will bring about resumption of mining operations at the companys property in British Columbia. Stock of the company has climbed from arming 7c to 26c in the past few weeks. Mining men of Idahos Coeur dAlene district supplied initial financing for the company. aif grilling Cc., Jtnc. 343 South State W 00 e EXPLORATION lead-zinc-silv- 45 er VINDICATOR SILVER - LEAD MINING CO. ground east of MuL-lain Idahos Coeur dAlenes soon will be explored from a depth of 750 feet. That horizon has been reached in the shaft n MINING MACHINERY Hental Compressors Complete Drilling Equipment Sampling Equipment Rail and Pipe Mine Cars 11 - Eimco 12-- B Muckers Battery Locomotives Slusher and Tugger Hoists Gas and Electric Shaft Hoists Vent Tubing and Blowers New Air Hose re- ported third quarter net profit of $10,498 after writeoffs but before taxes. In comparable 1953 period, it had a net loss of $39,306. Report revealed Callahan has sold 50 interest in Perry Minerals Co. to subsidiary Vulcan Silver-LeaCorp., for 150,000 of Vulcans unsold treasury Shares. Callahan now owns 60 of outstanding Vulcan shares. American Smelting & Refining and Day Mines are operating Vulcan min under lease. Mine is in Silver Belt. d HOMESTAKE MINING CO., already producing uranium from Black Hills, is going into production of the atomic ore at its LaSal and Little Beaver properties in Utah. This adjoins the U & I uranium properties. UTAH TAX COMMISSION proposed extension of tax on net proceeds of mines to include un- patented mining claim. A SPECIAL URANIUM SESSION at the Northwest Mining Association convention in Spokane December 4 will feature five talks, on uranium by government geologists from the U. S. Geological Surveys Spokane office and from the Atomic Energy Commissions Grand Junction, Colorado and Butte, Montana offices. Make your reservations early for this important convention! 3-- WANTED Tke Services of as or capablo person experienced to assist in small capatalization program on proven nranium pop Box 3 North Salt Lake. perty Crushers Ball Mills SPECIALIZING IN URANIUM SECURITIES Flotation Cells Tractors Electric Motors Pumps, all kinds PLUS 1000's OF ADDITIONAL ITEMS Write, Phone or Visit our two yards Cromer Brokerage Co. Whitney & Company Offices at: Member Salt Lake Stock 10 EXCHANGE SaCHDiEBY CENTER, INC. 1201 S. 6Hi West 2nd East & 3rd South Salt Lake City, Utah Phone Mosb, Utah 73 1954 (Continued from Page 1) mission will purchase power to replace power which it would otherwise obtain from the Tennesssee Valley Authority. It does not contemplate that the AEC will buy power to supply TVAS requirements, and it does not change the status of TVA. It will meet the area's immediate need." An alternate proposal would have the Federal Government construct the plant at Government expense. This proposal would entail additional Federal taxes or an increase in the national debt of at least $107 million. Although Utah receives no direct benefits from TVA operations, Utah residents would be expected to contribute between $400,000 and $450,000 in taxes toward the cost of the project. Utahns ' already have contributed an estimated $6 Vi million since 1933 as their share of TVA operations. President Eisenhower is referring to the matter has said: Tf the Federal Government assumes responsibility in perpetuity for providing die TVA area with all the power it can the officers and Sid Spencer. Wyoming area shipments will accept, generated by any means whatsoever, it has a similar retrucked 145 miles to the govbe sponsibility with respect to every other area, 'region, and comer ernment receiving station at of the United States of America." Colorado. As production inRifle, creases, however, it is hoped the government will establish a new Announces Stocks station at a railroad point at Ray Drilling Underground Craig, Colorado, 45 miles from es Contract Work For Of Up the Wyoming property. Slightly in September NOVEMBER 30. Exchange Salt Lake Stock Exchange Bldg. Suite He. 4 39 Exchange Place Salt Lake City, Utah New Uranium Digest Free upon Reguest Also information on the above quoted Issues Phone Teletype SU 180 17 PLACE Salt Lake City, Utah Phones: 06 or TWX SU-3- 80 " 237 ROBBER BUILDING Alhnqnerqne. Phones: 14 New Mexico or TWX AQ 165 Reports on Royal, Pathfinder, Upetco and Kentncky-Uta- h Mailed on Request -- |