OCR Text |
Show "Oct IJeuJ ctf fyH$caHce in the Oil and iHinty Wctld IftcJt Vol. 27; No. 34 n Salt Lake City. Utah. Friday. Octobei 19. 1956 Denver C. C. 10 Cents Glimpses at U.S. Economic Picture dies First Energy Resource Confab t Production of automobiles In has been set at 6 million, the goal of the manufactures. Production this year to date totaled 4.290.000 with Chevrolet leading with 1,205,000; Ford second with 950,000; Buick third with 430,000. 1957 Income of individuals during the month of August set a record with a yearly pace indicated of 328 billion dollars, or approximately billion above the July income. 4 Dr. Lauchlin Currie Dr. Charles Scarlett Robert F. Thurrell, Jr. Hundreds of industrial and bus iness leaders of the west will gather in Denver next week for the first energy resources conference to be held in the U.S. Conference dates- are Oct. 29, 30 tries, Dr. Robert E. Wilson, Chairman of the Board Standard Oil Company (Indiana). Session Chairman: R. W. Aker-low- . and Atomic Energy, Exploration and Production, Dr. Lauch-li- n Currie, Vice President Union Carbide Nuclear Company. - 31. The Denver Chamber of Commerce is sponsoring the conference to thoroughly explore this subject. The purpose is to bring together leaders in the field of development of our energy resources to study recent developments in the production of new sources, examine the industrial Atomic Energy Processing, Dr. Robert A. Charpie, Assistant Director Oak Ridge National Laboratory, Oak Ridge, and technological, application of energy sources and to explore their influence upon our future. Conference speakers and panelists have been selected from among those men throughout the nation working at the frontiers of development of new sources Lead-Zinc-Silver of energy best able to examine the subject in its broadest sense. -- - conference sessions, luncheons, dinners, field trips and other en- tertainment. An interesting program for the ladies has been planned including trips to scenic and historic places in Colorado. Dr. F. W. Brown, director of the U. S. Bureau of Standards Laboratory, Bolder, Colo, has been named conference chairman. Delegates will be welcomed in brief addresses on the opening day by Governor Ed. Jorason and the mayor of Denver. Third day of the conference will be devoted to field trips to Saentifee and research centers. The program in detail follows: General Speech ' Resources for the Future, Dr. Jom W, Vanderwilt, ' President, Colorado School of 1 Mines. New Developement of Energy Resources, Dr. Charles Scar-lot- t, Stanford Research In- Utahns Seeking New Industries Oil Shale, Gilsonite and Tar Sands, Dr. Fred Hartley Union Oil Company of Calif. Coal Energy Applications, Dr. Will Schroeder, University of Maryland. Session Chairman: G. H. Brodie Luncheon Speech, Economics of World Oil, Mr. Austin Cadle, Manager Economics Department, Standard Oil Company , Of California.. an 11 per cent inSolar Energy, Dr. John A buz-fi- representing crease over the same month in Director of Solar Labora- 55. Safeway Stores in August had tory University of Wisconsin. a total of 155 million or 7 per cent over August of last year. For Economic Impact of New Ene, the eight months ending August ergy Resources, Mr. Eugene 31, Sears showed a net increase Burlingame, Member Indus- of 7.8 per cent and Safeway 2.2 trial Economic Groups. cent. Greatest increase in the per store chain organizations sales Resources Methods for Rapid of was that Union showing Grand Robert Evaluation, Thurrell, Executive Director, I R E X 37 per cent increase over 1955. Safeway operates approximately Washington, D. C. 2.000 stores; J. ' C. Penney next Dinner Banquet: Undecided with 1,675. Chairman: Arthur Baldwin, require a tab of President Denver Chamber of 5 Reasearch will U.S. billion in the this year, 3 Commerce. billion of' which will be in Industrial laboratories. It is expected that 5 to 20 billion will be invested as capital to take advantage of each one billion that is expended in industrial research. Colgate-- lead-zinc-silv- er Utah is among 46 states which are today scrapping for bigger better slices of an economic melon that has been growing for the past 15 years and shows every promise of getting bigger and bigger. A recent United Press survey 'disclosed that only Texas and California spend no state funds for the purpose of bringing in new industries. These two states leave such promotions to- - the chambers of commerce and private development groups. The size of the prize the various states are after is shown by a Department of Commerce survey of current business. It is reported that in the first six months of the year more than $16.6 billion was spent on new plants, plant expansions and equipment in all industries. All around the country yawning excavations and rising walls of brick and mortar testify to the industrial boom. Newest industries coming Total expenditures of the five leading advertisers in the first six months of 1956, indicated that UraGeneral Motors would lead with According to J. C. Madsen Jr., president of Black Hawk nium & Metals Co. of Salt Lake Ctiy, final papers have been 31 million; Proctor15& Gamble, 27 million; million; Chrysler, signed which give Black Hawk the control of and a majority in14 million, and mill and concentrating operation in Genera Foods, 14 million. terest in a Pioche, Nevada. On completion of the contract, Black Hawk will Installment debts rose to a total own 51 per cent of the stock of the corporation now being formed of 29 billion during July, which to carry on the ' milling operabrings the total consumer credit Mr. Madsen reported that Black to approximately 37 billion. The tions, and will take over management of the mill. Hawk i3 now uranium increases are due to unusually large automobile and personal While all details of the transac- ore from its Joker mine in Colo- loans. tion were not immediately avail- rado. The first shipment of ap50 tons will be made Department store sales showed able, Mr. Madsen indicated that proximately an increase of 3 per cent over the it involved an initial payment in to the receiving station at an early same week in 1955 for the period excess of $30,000 in cash and se- date. He also stated that Black ending Sept. 29. Atlanta, Ga., curities. The milling operation Hawk is now in its strongest po- showed greatest increase with 14 will be under the direct super- sition since incorporation over a per cent; New York second with 11 per cent. Largest decrease, San vision of Mr. Madsen who is him- year ago, with valuable mining Francisco district, 6 per cent. Avdiself an. experienced and capable and milling interests, and a increase for the period Jan. versified group of assets consist- erage 1 4 per cent across to 29 was engineer. metallurgical Sept. ing of cash, government bonds and the nation, with every one of the Final installation of milling securities. Federal Reserve districts showing equipment is being - completed, an increase. Black Hawk shares have been with the last crusher shipped from Salt Lake this week. The mill Is trading in large volume on the DELHI-TAYLO- R TO scheduled to begin operating Nov. Salt Lake market, advancing from c to 2c per share in less than DEVELOP POTASH 1st with an initial capacity of 50 to ores tons per day. The first a week. It is reported that the Oil Corporation be milled will be those now being company has over 1000 stockhold- plans to spend several million dolstock-pileat the mill under the ers scattered throughout the Unit- lars in construction of mine facilisufficient milling reserves assured, and Hawaii. Local brok- ties and benefication unit on ed it is believed that production can ers States that recent of a survey of their potash report trading in soon be expanded to 150 tons per Black Hawk shares has been interests in Grand county, it was day. greater than that of any other disclosed this week. The engineering survey is now averlocal uranium issue, and that Mr. Madsen estimates an are on orders increasing. underway and it is anticipated buy age net profit of $4 per ton he be- will be completed within the next Madsen Mr. that stated ores now available for milling. Black few weeks. of to lieves the market price With the capacity expanded r adhas developed milto 150 tons per day the net profit Hawk shares will continue tons of of valuable farm lions would be approximately $600 per vance in active trading a3 mining fertilizer are ingredient at Seven-Mil-e day, 51 per cent of which will go and milling activities Anticline northwest of Moab. to Black Hawk. Palmolive, to Utah during the past few months include Marquardt Aviation company, which is building a $5 million plus ramjet engine plant near stitute. Ogden and the iVtro company, Luncheon Keynote Speech. The which will spend several million Probable Impact of Atomic on plant expansion at Salt Lake Power on the Energy Indus City. . Oil and Gas Future, Maj. Gen. L. E. Cotulla Head of Petroleum, Department of Defense. Sears-Roebuc- Dr. Fred Hartley Black Hawk Uranium Acquires Mill in Nevada Executives of companies, scien- tists and researchers concerned with the long range implication of energy resource development will have a unique opportunity to share information and ideas with other leaders in this field. The conference is open to any and all interested. Registration may be made by postal card to the Energy Resources Conference, care of the Denver Chamber of Commerce. The registration fee is $35, which covers the cost of all Dr. Will C. Schroeder Prices had a lot to do with the last chain stores sales report. k led the list with better than 325 million in August stock-pilin- g Delhi-Tayl- or d com-pleti- out-of-sta- te Delhi-Taylo- o |