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Show Page 4 THE WESTERN MINERAL SURVEY Uranium Milling Boom Seen Losing Steam Utahs waterfowl gunners are . to build mills under the 11, 1957 State Sets Long Hunt On Fowl Salt Lake Stock Exchange (Reprinted from The Salt Lake Tribune) ROBERT W. BERNICK, Tribune Business Editor By The steam is expected to go out of the uranium milling boom in the final months of 1957. By then, those who are going Friday, October ore-buyin- g, circular five," era of the Atomic Energy Commission either will have received contracts or be out in the cold. It is, of course, probable that some mill contracts will be granted under certain special cases during die first quarter Chief Cons. Warrants .. Clayton Silver Colorado Con Combined Metals Comet Coaln Commonwealth Lead ... Comstock Uran oil.. Cons. Eureka Crescent Zagle oil Croff Oil looking forward to the longest duck and goose season in modem history following a good October 5 opening day which saw a normal take of birds over the states marshes and waterways. crown Point The season will run continuous- ly through January 7, 1958, and is expected to produce some of the best bag returns in years. This prediction was made by game bird officials based upon the average of 1958. or better count of duck hatches But most milling firms are gambling that major portions this year on the state and northof their multi-millio-n dollar investments in concentrations of ern marshes. uranium ore will be repaid before March 31, 1962. Reports show that a larger than usual share of birds taken during It is then that the new uranium oxide purchase program of early days of the young season the AEC goes into effect. have been of the small species, Under this plan, the commission proposes to purchase up mostly of the teal and spoonbill variety, though many bag limits to 500 tons of uranium oxide in any one year from a single min- were checked that included the bonus birds of pintails three ing property. The commission as yet has not defined what it considers andor widgeons. a mining property and how this will be translated through mill The larger ducks, mallards, pincontracts. tails, redhead, and others are exThis has agitated certain sectors of the industry. But it is pected to be taken in increasing numbers as the season goes on. hoped that with the pending termination of new milling contracts The reports also show numbers in the months ahead, that AEC will be in a better position to of geese being harvested with look realistically at what the volume of oxides purchasing will be most of these taken on the northern marshes. Hunters were again between March 31, 1962, and the end of 1966.. U. S. production of uranium oxide was declared officially to reminded that both bag and possession is one bird of the dark, be 6,000 tons in 1956, says American Metal Market in a recent or Canada, goose species. article. Law enforcement officers said the hunt so far had been a relaPredicts 8,000-To- n Increase in 1957 "clean shoot, although sevtively American output is expected to increase to more than 8,000 arrests eral have been made for tons in 1957, Correspondingly,' it is expected as mills under and late shooting, failure early construction and new mills to be contracted within the next sev- to- - use a plugged gun, overlimit eral months get into production during 1958 and possibly a bit of ducks, and hunting without a later, volume of oxide output in die USA will jump an additional migratory waterfowl stamp. They asked waterfowlers to four or six thousand more tons. know and observe the laws govThis would place the USA output of uranium oxide at a erning this season. All rules and near peak of 15,000 tons annually. regulations covering the hunt are Canada this next year is expected to achieve a similar level shown in the 1957 waterfowl procof production (between 14,000 and 15,000 tons) says the metal lamation. Copies may be obtained from department of fish and game trades journal either by personal headquarters South African output is supposed to hit between 5,000 and or written request, or from any of the some 500 fish and game 6,000 tons in 1957. So the combined total potential of the USA, Canada and license agents over the state. South Africa will be around 35,000 tons or more of uranium oxide each year. But theres some question as to Staggering Amount of Nuclear Energy "when the This is, of course, an utterly staggering amount of nuclear U.S. or as well as whether aiid our allies in Canada energy. And it is very doubtful that by 1960, say, there will be Africa will be selling this needed enough furnaces in all the free world to burn all of but a modi- uranium on an open market basis. Views of Canadians on Output cum of this yearly uranium (in metal form). interviewOutside of American national defense needs, which already Canadian authorities ed by the Tribune in recent have been solved from the hear term view, the domestic Ameri- months on the Blind River discan market offers no hope within the next immediate years of trict insist emphatically that they on a cost basis utilizing anywhere near the store of production of which the can U.S. the bulk of the uranium inwestern industry is possible of turning out. state this claim dustry. We merely By 1975, the picture could be changed radically. without endorsement. But thats a long way off in terms of both ore reserves and In South Africa, says American levels. Metal Market, it is noted that milling at todays most oxide is produced uranium The United States could sell and already is selling, uranium a as of gold and that to other members of the free world. the pays for ALL We are, in turni buying a major part of the production from mining costs. Canada. And in fact, the Canadians want us to buy more. Their Purpose of all this is not to disore reserves, in relation to milling capacities, are at a much courage, of course. It is to point out that some wider variance than in the states, incidentally. rather huge budget problems still For theres been an embargo on new milling contracts by loom in the procurement program the Canadian government at least until some disposal program of the commission. It is to underscore the end of can be worked out. the "drive for new milling caCan't Compete With Fossil Fuel Industries pacity which is almost upon us. Fundamentally, most industry people agree, on a price basis; It is to emphazise that when uranium in the USA at this time cannot compete against the you hear someone talking about a fossil fuels industries of the nation. With limitless amounts of future day with "tariffs on urabituminous coal, billions of barrels of oil and huge stores of nium imports he might not be all backed up by expanding research in fuels as crazy as he sounds. natural gas combustion directed at lowering costs the development of more efficient nuclear reactors is running races not only with creeping inflation but technology of its competitors. Incidentally, tendency to subsidize public power programs with the excess of uranium-energ- y if for no other reason that it would tend to reduce the stockpile will grow more tempting in tiie years ahead, some people in the private power business feel. Theres a big market looming in western Europe for nuclear fuels. It would eliminate the dependency of these nations forever on Suez oil Navies of the free world someday will be nu- . clear-powere- d. Dragon B. Crown Point Bast Standard Corn. Bast Tin tic Coaln ... But Utah DENVER Uranium Stocks The following bids and aakcds do not represent actual trim actions. They art Intended as a golds to the approximate range within which these securities could hare been sold (Indicated by the bid) or bought (Indicated by the asked), at the time of completion, 9:30 a.m. each day. as furnished by members of the Nations Securities Dealers Assn., Inc. Empire Mines Eureka Bullion .... B4zka Lilly cons. Eureka. Mines Eureka Standard Gold Chain Grand Deposit .." Great Western Horn Silver Interm tn. Pete. Inc. Kennebec Keystone Leonora Little May Majestic Oil & Mng. Mammoth Miller Hill Mono Kearsarge Moscow Mt States Dev. Mountain Nalldrlver New Park New View Quincy North Lily North Standard . Park Bingham ... Park City Cons. Park Konold Park Premier .... Piute Uran. Corp. Plutus ...... Prince Cons Prosper Oil & Mng Rico Argentine Royston Coaln ....'. Silver King West Silver Shield Silver Standard Sioux Mines So. Iron Blossom South Standard Sundance Oil Swansea Cons. Tar Baby Untie Central Tintic Lead Tlntle Standard Trans-Unio- OH n united Park City o Bug. Com o Bug. Pfd Utah Wyo Cons. Oil Utah-IdahUtah-Idah- Western Alloys West Toledo Wilbert Willis ton Basin Oil Yankee Cons. Zuma Ur. ft Oil Bates Bonansa 0111000 at ,0b Commonwealth Lead 5000 at .02 Clayton Silver 1500 at .22; 500 at .22 North Lily 500 at .43; 500 at .43 Sliver Standard 500 at .02 Willis ton 1000 at .16 Curb Bates Dragon 100 at .95 URANIUM REPORT ON BEEHIVE and RADOROCK QUOTES October 9, 1957 UR. Approx. Bid Asked out-produ- ce by-produ- ct by-produ- ct CROMER BROKERAGE CO. Suite fWX SU-1- 80 3-- 4 Salt Lake Steck Exchange Building. 39 Exchange Place Salt Lake City, Utah Telephone EL Govt Sets Issue Of New Bond Type New United States series E savings bonds will be issued effective October 1. The new punch-car- d type bonds are abput the size of government checks and are perfor- at no charge to the purchaser or the government, will also find the new assemblies more convenient and easier to handle. The new size bonds will fit the smallest safety deposit box, a coat pocket, or a womans purse, Mr. Schramm continued. "Local bankers are now ready to Issue this new look bond, which is one of Americas safest investments. The new bonds table and show carry the ZYi maand the interest increased turity ,the schedule which has been in effect since February 1, 1957, he ated in line with modern trend to enable automatic processing. The Treasury estimates a saving of $500,000 per year in the printing of the bonds alone, plus an unestimated saving in accounting costs, according to Clem S. Schramm, state director of the Treasurys savings bonds division. "It is felt that the banks and other agents who issue bonds for the Treasury as a public service, said. 8-y- ear ths |