OCR Text |
Show November 14, 1947 The Western Mineral Survey, Salt Lake City, Utah Arabian Pipe af Line Draws On Huge Loan Trans-Arabi- Exckaiga. October, Reels la red Stocks Itt, aalaa OSH 51 1.32 03 10 20 10.95 07 .13 9 12 .22 5 .45 . 11 Butte-Highlan- ds has revealed that it has already drawn $25 million of the $125 million it will borrow to finance Ex-Dl- v. construction of a 1200-mi- le crude carrier from Saudi Arabia to the Mediterranean, says ' the Oil Ns Hilarity News. Polaris The $25 million was obtained Sherman Lead Summit from eight insurance companies, Silver Sunshine which will make the remaining Sunshine Con $100 million available before Tamarack anliitcS itacka Lev High Ml nlif. Clayton Dayrock Gladstone Golcondu Grandview Hecln Malta surer Independence Jack Waite Mstallne Mining M L B Metropolitan Metropolitan "AMineral Mountain Pipe Line Co. an - 1, 1949. July Park Diversifies Exploration Program Stocks Activity Gains New Spokane rc(Utrc4 ul (bai4 ( United 5 ,,,,', . 11 9.90 1.15 65 4, c Lead-Zin- UNLISTED 4.80 STOCKS "Syakaia Stack Sbs. Sold - Value 6 2,640.50 37,953 fcMs) . 3 ft M Close 3 JSO 1.000 71,430 21,166 5.M0 1 5 , 1 .11 .4.50 - 27,500 2,300 8 271,25 2.788.75' 5,520.00 25,150.50 3.746.93 2,666.58 4.00 . 26.000 .11 .22 7 .06 4.45 .48 1.43 9.50 1.16 .47 3 13.BS9.g4 10,900.86 27,896 9,737 1.25 3 .10 .19 10.70 5 .12 .97 .03 .10 .19 10.50 4 .10 7 9 24,200 2.S74.2S 72,052 120,300 6,592.50 2,370.75 30.823.09 9,432.10 29.300 9.500 375 - 0 72,645 1.46 9.90 8,603 3,700 1.12 .61 19,648 19.S73 3 15,184.50 42,602.91 13,507.45 36.664.25 22,156.41 10.73S.06 The companies and their pro50,059.50 18.90 2,720 Hill 1S5 portionate share of the $125 mil- Bunker 2.00 2.15 Callahan lion are: Metropolitan Life, $40 MeGUUvray Creek .05 .05 3.75 Mines, Inc. ............... 3.98 million; Equitable Life, $40 mil- Day 11.50 . , . .......... 11.50 World Life lion; New York Life, $18 mil- New 6712.00 2.10 2.35 Pend OreUle 169.034.70 4.91 4.91 lion; Mutual Life of New York, Sidney 1.666.00 114.00 114.00 $7.5 million; Aetna, $4 million; Washington Water P. 367.56 . 0 . 01 Whitewater million. $4 8S5.674 Travelers, totaled shares, combined sales Intersession and Board JLh7,- -r a2 The loan is being guaranteed 6900.805.81. compared with 659,236 share., 01 y Average of 20 representative mining stocks ranged fro. Co. (NJ.)..So-conOil Standard s average dosing at by 02.72 on October 1, with month of to low a 25. rteber , Vacuum Oil Co., Inc.-- Stan62.06. dard Oil Co. of California ' and RANGE OP SPOKANE TER STOCKS hoard on hide) Close .Low the Texas Co. Close Low High 4 .13 .15 .. High Metalline 3 3 Trans-Arabiis a subsidiary 2 2 2 Mineral King . . . BUver. American 6 6 8 of Arabian American Oil. Co., Morning Glory . . .79 8 2 Monitor Ap.... currently jointly owned by The Big Creek Con. 7 6 4 Nabob .. Callahan Texas Co. and Standard Oil 'Co. Caledonia 6 .15 .18 ... 3 2 3 of California, and soon to be Coeur dA. M.. . Ottawa 1 2 3 Co.-(NParamount Oil Standard with Chester 3 split up 3 3 BUver Pilot .... Lead Vacuum Crystal 1 J.) and Socony- ' Plalnview Douglas 9 .75 5 Reeves Mac .... Oil Co., Inc. Golden Age ..... 3 0 0 Creek .... Sheep m Gold Bond Socony-Vacuu3 BUver Bowl .... .16 ,13 Jersey Standard and Gold Helm .... .19 .16 9 BUver Chief .... several . months ago Golden Mess ... .04 4 .03 BUver Cres. .... Arabi.... Silver million a Hope $102 sponsored 1.95 A 1.95 D ... BUver 10 .... Highland A. 1.95 1.70 an American loan to obtain funds' Highland BUver D B" ... 1J5 8. .... 2.35 2.65 BUver Syn. 23 for current work. 4 4 4 Bt. Brno 2 .02 3 Terms of the $125 million loan Hypolheek Success Mining .14 .14 0 M. Sunset to the pipe line company provide King Ck. P. King 8 .06 8 Utica that- Trans-Arabi1 may draw Liberal K.' . 1 1 Wellington 3 5 6 funds as follows: $25 million on Lookout ML Thomas Cons. .. 6 6 17 Whitodelf or before Sept. 1, 1947; $25 mil0 JO 7 Vaklma-Sh... Ex. L. 1948; Jan. Friday before on or lion l; $25 million on or before July 1. Merger . IBVVniCI VI ' V.T Oetebef vie si iftnn iilict f$r Mtitk vii SS9Ct 1948, and $50 million on or beor accuracy not guaranteed. No with care but Zinc-Le- . 856.25 22,000 ad 113-0- , 0 . -- - OCT-J6- OVEE-THE-CO- 47 P-- C an Nev.-8tew- . art . , 9,.1 an - o. VVWi---ww- fore July 1, 1949.. will repay the loan, bearing interest at the rate of 2.55 per year, beginning Jan. 1, 1951, and ending July 1, - Trans-Arabi- an 1962. Bauxite , Domestic production of baux- -e completeness (Data collected or Inaccuracies. responsibility assumed for any statements-- - herein er omissions Service.) Information Compiled by Brokerage justment .7. Miscellaneous Holdings: OH interest in Incorporated has 240 acres in Craig ' Structure, Moffat Co, Colo.- Full interest in 161 acres Big Horn, Wyo,- 1- -3 interest . in ' 1108 acres Pinnacle Structure, Moffat Co. Colo.; full interest in 160 acres LaBarge - - Veteran "Mining Man to Fish Awhile Going veteran work for the Bureau Griffith T. Powell, . ; - , - ue first-quart- SUJIBSGIMIBS The Western Mineral Survey for authentic reports on Mining and Oil developments in the West. TWO YEARS $2.50 $4 $ Name Street Field, Sublette Co, Wyo.; full interest in 1939 acres Strawberry Structure, Wasatch County, of 1 per cent in 320 Utah; acres in Dry Lake Structure, Moffat Co.. Colo. Total acreage involved in Oil .Incorporated holdings is 20,370 acres. Nev. Mines Up Output Of Copper RENO, Nevada Nevadas copper mines registered a nine percent production increase for August, replacing Montana ; as the fourth largest state. Senator Pat McCarran announced here this week. .copper-produci- 1891-191- Carter to Drill New Test in Cisco Test .. Well Shows Output Promise : . - . ' MOAB, Utah The Taylor their test well five miles west of Cisco,- bailed 600 gallons of crude oil from the hole in less than 48 hours over the week-en- d, and were not able to lower the oil column in the caring below 300 feet, according to reports from Cisco reaching Moab this week. The operators have decided to make a pumper out of the well as it is and have erected storage tanks. The Taylor-Stewa- rt Oil company of Grand - Junction hopes to market enough of the crude to pay for the well before going any deeper, or acidizing for greater production. A pump has the drillers state. The brothers, Delford and William Taylor, have: in- mind the erection of a refinery if they can prove enough production on their 1100-ac- re lease west of ; t - . been-ordered- , - Clayton Silver Clayton Silver : gross sales, less discounts, returns and allowances reported as $77,026.16 for. third quarter this year, compared with $152,141.27 for the second, .and $52,707.75 for the first Second quarter report of is an amendment to the reported figure of $204,-849.for the same quarter as originally given out $152,141.27 02 . - -- . brothers-a- ng Nationally, copper production fell off slightly to 71,847 short tons compared to 73,082 abort tons for July, indicating that expiration of the Premium Price plan is not expected .to oring about a major decline just yet in output, according to a.U. S.J Bureau of Mines survey furnished to Senator McCarran. Only a small percentage of copper production was entitled to premiums in the last days of the Premium Price plan. Nevadas output in August reached 4,430 short tons, compared to 4,050 short .tons for July, making August the biggest month of the year with the exception of 4,625 tons' in May.- - The Nevada increase was credited to a larger qutput at the Kennecott Copper Corporation mines in White pine county. Likewise, .'closure of the' Mountain City Copper Corporation property at Rio Tinto in northern Elko county had no effect on Nevadas production just yet since milling operations continued there, McCarran said. Arizona still leads as the number one copper producer, with 29,870 short tons, a seven' percent drop over the previous month. Utah was second with 23,620 short , tons, and New Mexico third, with .5,930 short torn a 10 Monpercent increase over July. tana, in fifth place, ' produced 4,160 short tons compared to 4,560 short tons in July, with the decline credited to a smaller output by the Anaconda Cooper Mining company at Butte. Washington's output of 350 short tons was credited to the resumption of milling ore from the Howe Sound proper in Chelan county. .- following mine fires and' explosions, Di rector Boyd said, ' Joining the Bureau as first-ai- d miner back, in 1911, Mr.: Powell spent his early years with, the government at the Bureaus mine 381,847 long tons (324,570 tons nounced today by safety station at Evansville, Ind dried equivalent) in the first rector James Boyd. and on mine rescue cars, conWell known among miners and ducting training in the mid-we- st quarter, compared with 373,076 tons (317,625 tons dried equiva- operators throughout mining re- coal fields. Except for a trip to Alaska in 1912 with the U D. lent) in the preceding quarter, gions, Griff Powell has trained Arkansas contributed 96 per cent many mine officials and work- Navy Mining. Expedition, he er production men in first aid and mine-rescof the worked steadily for the Bureau and Alabama and Georgia furnwork, and has performed until 1933. At that time, he beished the remainder. outstanding rescue and recovery came a mine superintendent with the Crescent Coal Company in Indiana. In 1938, he rejoined the Bureau Is safety instructor and was stationed at Norton, Va. Bom in Indiana on October 26, 1877, Mr. Powell was employed by the Philadelphia and Readr ing Coal and Iron Company in various mines throughout the 1. anthracite region from a career his as fan Starting boy, he held practically, every kind of mine job operator of elec-xic- al mine machinery, fire boss, FILL OUT AHD HAIL THIS COUPOH TODAY and finally, mine foreman. In addition, he managed .to squeeze in a course at McCanns Business WESTERN MINERAL SURVEY College at Mahanoy City, Pa. A widower, Mr. Powell plans 22 Vz East First South St., Salt Lake City 1, Utoh to head South for Florida upon Gentlemen: retirement, where he hopes to indulge in his favorite past time in payment for Enclosed find years fishing. MINERAL SURVEY. WESTERN subscription to the ite established a postwar high 70, in the first quarter of 1947 and Bureau of Mines safety instructor imports were almost double station at those of the preceding quarter, at the mine safety on October retired Va., according .to the Bureau of Norton, 30 years of more 31 than after States United DepartMines, it was anment of the Interior. Output was Government service, Bureau Di- ONE YEAR (Continued From Page 1) dyeing about 50 barrels daily, with some water depth 2300 it Core of producing sand shows 15 feet of saturation. British American has spent considerable in exploration and seismograph pictures show fairly good structure. Government Area unitized lease. Another well is being started. - 2. Elks Springs Strvctare: Moffat County, Colo. North of Rangely Field; 632 acres. 3 per cent override royalty. Associate company Continental OIL Two wells producing, in this field. 3. Skull Creek Structure: Moffat County,-- Colo. 440 acres. Oil Incorporated owns full interest. Richfield' of Montana drilling 2 wells; no cost to Oil Incorporated. in . Tow 4. Pagoda Structure Creek area. Rout County, Colo. 600 acres optioned to General Petroleum. Geologizing this area Gave Oil Incorporated $1 per acre for privilege to shoot and will give $3 per acre plus 3 per cent override if they decide to drill. 5. West Steamboat Springs, ui South Tow Creek area. 635 acres optioned to Texas Company. 2ft per cent override. Gave for $1000 to Oil Incorporated privilege. 6. Williams . Park. Anticline Structure, Rout County, Colo., 20 miles south of Hayden, Colo. 2148 acres. Oil Incorporated holds ft interest. Associate comCo. pany Phillips Petroleum .(Wasatch). Gas wells have already been developed on this structure. .Title to some of this acreage may be subject to ad- - . zinc-copper-g- old - Nickel Firm . Boosts Earnings . The report of The International Company of Canada, Limited, and ' subsidiaries - for the nine months ended September '30, 1947, issued by Robert C. Stanley,- Chairman- and President shows a net profit after all charges, equivalent after preferred dividend requirements to $1.51 a share on the common stock. This compares with net profit of $19,556,009, equal to $1.24 a common share, in the corresponding period a year ago. For the three months ended September 30, 1947, net profit was $7,062,572, equal to 45 cents a share on the common, compared with $8,530,494, or 55 cents a share, in the preceding quarter, and $7,344,346, or 47 cents a share, in the three months ended September 30. 1946. - - Uintah. Basin ROOSEVELT, Utah Its no longer a rumor that Carter Oil will drill another test well in City State OIL STOCK OR ROYALTY BOYEDS See me before buying oil stocks or royalties or drilling your own well, anywhere, con positively tell you ahead of drill if well will be producer or duster, moke me prove it. No Charge. CALL 02 or write ' WESTERN MINERAL SURVEY, BOX 7-- D the Uintah Basin. Authoritative sources reported Thursday that the drilling area has been staked, and operations will start pending the acquisition, and the completion of the test on the Knudsen Number one. , Location of the test well will be in Section 28, about 1 mile northwest of the Davis Number 1. The Davis well was drilled last winter in the vicinity of but was declared an empty hole early in the spring. Completion of the 'test on the Knudsen Number 1, located in The Twists ' west of Vernal, has been delayed by the presence of water, and actual work on the new test will not be started until operations at the Knudsen are wound up. La-poi- nt, Compressor, P. B. C. F. Powered by Mercury: engine. Now in operation but is being replaced by larger unit. Chicago-Pneumat- ic 4-2- 25 Address inquiries to Box 4-- E Care of Western Mineral Survey |