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Show Friday, October 19, 1956 THE WESTERN MINERAL SURVEY Federal Uranium Pushes Program Oi Diversification It is interesting to note both political parties in their plat forms deal with subject of high taxation. In fact, both platforms reflect the views of the nation's independent businessmen as expressed through the National Federation off Independent Business, aslI wen as news on balancing! the budget. In both parties there was rec--1 ognitlon of the soundness of these views. Then Congress had before It an amendment proposed by Sen. Harry Byrd, Virginia democrat, and Sen. Styles Bridges, New Hampshire Republican, which would require Congress to stay in session each year until it the budget. bal-lanc- ed This is sometimes called the put up or shut up amendment. If Congress wanted to go hog wild on expenditures, well and good. But before scooting off. to mingle with the home folks, Congress would also have to levy new taxes to meet the new expenditures. This would be a powerful force for governmental economy, its sponsors believe. Then there is the Strangelr.no' c.w. Harder one comes out for higher taxes; no one comes out against a balanced budget, yet somebody must hold such feelings. Last session of Congress passed big- gest peacetime appropriations in nations history. These money bills were signed into law by administration. Majority of Congress was of party opposite to that of administration. So mystery deepens. Just who Reed-Wait-e- rs amendment unacted upon. This would clarify the Constitution by permitting states to initiate amendments to the Constitution. Thus when 32 states sent resolutions of identical content requesting an amendment. Congress would have to submit it to all the states. If 36 states ratified the amendment, it would be part of the Constitution. This would give the states power to limit federal expenditures and taxes, and thus return government more closely to grass roots control. is for higher taxes; against a balanced budget? Last session of Congress gave everybody ample opportunity to do something to In fact, many state, county both lower taxes, balance budand accity governments are limconcrete get. For example, tion still waits on Beed Dlrksen ited in the amount they can tax. laws were passed proposed amendment to Consti- Usually such and refInitiative the through to tution limit, except in times of war. Income tax on both individ- erendum system on those states. uals and corporations to a maxiSo the problem of 'taxes, the mum of 15. problem of a balanced budget, are perhaps not so great as camThis amendment would also paigning oratory would imply. knock out $10 billion in government. spending; close- - governThere are ways to solve these ment out of 700 to 800 business problems, and solutions have enterprises ranging from coffee been proposed by some very roasting to electric power gen- sound American statesmen. Now which represents a total that both party platforms are eration, of- - $50 billion.-o- r$1,250 per avcommitted to these objectives, it American erage family. is possible action will result. ft Witfanil FtJwttoa cl ladeptndwl Birinm - RENO, Nev. 'Federal Uranium will continue its policy of Corp. diversifying into production of other metals as was told at the first annual meeting, held here Tuesday. R. W. Neyman, president, said the company had completed agreements on a gold property and a recent property on a basis all weeks, whereby Federal will operate properties for a share of net profits. He said the in lead-silve- r company also was examining a g copper property and other holdings. All directors of the corporation at the annual were meeting. In addition, S. B. Eggertsen, of Salt Lake City was elected a director to fill a vacancy created by a recent increase in the size of the board. Mr. Eggertsen also is a director of several other corporations, including Rico Argentine Mining Co. and the Independent Coal and Coke Co. metal-producin- re-elect- the stockholders Following met and reboard meeting, the elected present officers, including Mr. Neyman as president, W. D. Nebeker Jr. as chairman of the board, Lester S. Harrison as vice president and C. Allen Elggren as secretary-treasure- r. Other directors include William H. Gibson, Reed W. Brinton, William J. Cayias, DT'Howe Moffat, all of Salt Lake City; Melvin D. Rueckhaus of Albuquerque, New Mexico and H. Lyle Jestley, Vancouver, B. C. The company showed a net operating loss for its first fiscal year, ending April 30 of $188,294. A balance sheet as of Aug. 31 was distributed to stockholders at the meeting showing net current assets of $2,632,525, with no long term liabilities. Most of net current assets, $2,100,000, consists of short term US. Government notes. Cash on hand in banks totaled Fege 5 New Metals Notes First Ore Shipment The first shipments of ore from the Little King Mine for New Metals Corp. was reported today by Pat Ambrose, mine superintendent for the company. Three ten-to- n trucks convoyed the ore down from the 10,00d-foaltitude where the mine is located to the AEC buying station at Thompson, Utah. Value of the ore shipped which contained an unusually high vanadium content was estimated to be $110 a ton. claims in the State of New Mexico. New Metals is trading on the San Francisco Mining Exchange. The Little King Mine covers eight claims, 25 miles southeast of Moab, Utah. A haulage contract has been made with the T. Balsley Co. of Moab. Due to the stepped up activity on this property, New Metals Corp. let a contract to grade and improve the road to handle heavy traffic. New Metals Corp. is a old California mining company recently underwent a complete reorganization. In addition to numerous properties in California, Utah, Arizona and Colorado, the company recently acquired 500 sources by persons who stake mining claims on public lands, have been issued by Fred Seaton, secretary of the interior. Secretary Seaton said he considered the 1955 law under which the regulations were drafted as the most important change in mining law since enactment of the mineral leasing act in 1920. Under the new regulations the federal government may sell the timber and control other surface resources up to the time mining patents actually issued. ot 50-ye- ar SEATON BLOCKS TIMBER "STEAL" Regulations which would pre- vent exploitation of timber Attention . . . ROCKY MOUNTAIN MINERALS CONFERENCE VISITORS: West's most up-to-da- Custom te Spectro-graphi- c Laboratories. See the Norelco Spectrograph and the Bausch and Lomb Dual Grating Arc Spectrograph at the lab- X-r- ay oratory of: Minerals Refining Co. 5221 South Major Street Phone AM Murray, Utah 6-32- 31 $560,000. Compliments of WILLIAM N. THE CHICAGO CORPORATION CHAMPLIN REFINING COMPANY GILLETTE 2680 West 80 th Ave. Denver, Colorado P. O. Box 552 In Any Enterprise . . . EMPLOYEES, MANAGEMENT, & STOCKHOLDERS MUST EACH BENEFIT o o o ENID, OKLAHOMA Wishing the "Energy Resources Conference" A Successful Meeting - from - LA. MESSMER Denver, Colorado 6-13- 82 LET US STRIVE TO KEEP OUR UTAH MINING INDUSTRY BOTH PROFITABLE AND PROGRESSIVE 5990 Colorado Blvd. Phone AT OIL LEASES Phone SK 1870. South Niagara St. Denver, Colorado H. W. Moore Equipment Co. 8-07- 71 Grand Junction, Colo. 2335 Grand Avenue Phone 2868 re- NEW PARK MINING COMPANY KEETLY, UTAH W. H. H. Cranmer Presides! |