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Show o jpjfa ywyn VVs 4h l&q loF U ilY 1 LIBRARY MMMLSIMEY t Feature i Minings Oil, Financial VOL. 2Sf NO. 1 I Salt Lake City, Utah, January 1, n jj 'j v- -. One Year $2J0 1954 Emery County Major Source Of Uranium Imports Held Big Problem Of Industry Development of the Temple fountain Mining District in EmThe effect of imports on the ery County, Utah into one of the American oil industry was a major Nations major uranium ore protopic at the 25th annual New Mexducing areas is indiciated in a reico Oil & Gas Assn, convention at- tort from Consolidated Uranium tended by some .400 delegates in lines, Inc., which lists production Albuquerque reports The Oil News. with a total value of $2,370,265 in other matters, the convention since August 1, 1950. selected Albuquerque for its 1954 In a special report to stockholdconvention, and all its ers, Consolidated President E. G. officers, including: Frawley stated that the company President Emery Carper of Ar- lad produced from its properties, tesia, for his seventh term; rat largely from Temple MounVan Welch of'Artesia; tain, 79,885.96 dry tons of uranium-vanadiu- m Treasuer John Kelly of Roswell, ore. This does not infor his .ninth term, clude production of several thousSecretary Charles Loveless. . tons mined at Temple Mounand Carper told delegates deep oil tain by predecessors to Consoli. production will be found widely While various phases of' the oil and mining, industry, are. experiencing a period, of accelerated producdated, the report said. distributed over New Mexico. He tion of the and prosperity, there are others that are not faring so well. This is particularly true gold Mr. Frawley, however, declincalled the outlook bright, but now is miners if a in enacted could in result that ed to announce any estimates of placing gold mining industry. Legislation pending added that is true only if im' blocked-ou. more ore reserves, despite favorable t .. position. ports do. not cut too big .a hole in diamond extensive drilling comthe domestic market . district. the at pleted V If imports trace a break in the 'The company has consistently oil price structure,' it will be hard on the Near Mexico state tax picadhered to a policy of not making ture since over. 54 per cent of the estimates of ore reserves for disthe retribution to the public, state's tax revenues, notcountlng WASHINGTON, D. C. With the booming uranium industry reputet port stated. The principal reason federal grants in aid, pomes .from to be creating new millionaires almost overnight, the time-reveis because it apthe oil and ..gas industry. term; millionaire has paled in the face of such astronomical wealth for thisto policy the g The atomic management that it energy commission as $60 million in a few months and twice that in a few more. The pears Carper called for federal prora-tionindolwould to million is of foreign oil just as the who report says has accomplished that feat,- Charles require excessive and unplanning spend a - states . .... ' 'millwarranted exploration and develat prorate allowable domestic lars expanding its uranium gtqen, of Utah, is not alone., : . Montieello, in southeastern Utah, : production. ,So. states' Maurice Mumford, opment costs to perform the kind l (rfexplqratm audf. development TJ, ' : priation request Is "approved sociation, declaring that the. ura necessary as a basis for published been drilling, wells, for 29 years. cording to officials at the agency's nium industry has emerged as a estimates. j In an interview, Treasurer. Kelly raw materials office in Grand Therefore. the management beof higher bracbusiness practical ' termed - : the pres- Junction, Colo. ket monetary returns as evidenc- lieves that uranium deposits .of the h ent industry weakness, and oiled by the new portfolio ratio of- a kind now being mined by the comProjected expansion and immen are trying to get their own provements in the plant, including prominent ' investment trust, wel pany should be viewed much the :same , as , metal ; mines .. found in. 'bouse in order on this factor. The replacement ;of the present . soda known in capital circles. Sixty, United States percent of the portfolio of this in- limestone. . state is cooperating, by- cutting ai ash reduction process. with convent Pitchblende in the lowables and we hope the import- tional sulphurie acid methods used is found in veins of breccia zones, vestment trust may be in atomic ing companies will cooperate by at other Colorado plateau' v.mills, pyrometasomatic deposits, pegma- industry and uranium securities would make possible treatment of tites, and sedimentary rocks. The Mr. Mumford states, continuing. cracking down ton imports. vanadium-uraniuores de- deposits hi veins and breccia zones new state allowable the The Uranium Industry Associa ..Consolidated Mining and SmeltKelly praised commercial of. are the in ing company of Canada has angreatest the. said the tion itself can attest to the past year program but industry veloped during nounced that .it win reduce zinc , significance. wants no federal crutches. San Juan countyi'it was stated. industry. Organized at its. Trail, B, C. conis H. Montieello The Charles few months ago with a handful a production plant operated Most of the vein deposits Lyons of ' Shrevesmelter of . Salt the the by;, approximately 4000 GaQigher company members numbering prospectors, port, president of the Independent by taining pitchblende are in tons a month in January. with contract the ' a Lake Petroleum Assn, of America, told Front Range mineral belt, but City under ore producers and explorers, the ' ' ; , MonAEC. few are in Arizona, Idaho, delegates that. foreign oil. could Association, despite its initial efnot be depended on to cross oceans tana, Nevada, and Utah. Domestic forts to confine itself to the origiin case of war. He warned that if deposits are of the siliceous-pyrite-galenal, purposes of aiding the prostype. imports are too large, the Ameripector and uranium ore producer, can industry will be crippled to the California now boasts (1) the In the Coeur dAlene mining dis- found itself catapulted into the enpoint that it will lack capital with deepest hole ever drilled and .(2) trict in Idaho pitchblende was dis- tire. field of atomic energy as it which to conduct aggressive ex- the deepest producing oil wells in covered in the lower levels of the applies to industry. Stocks world. and the ploration Sunshine mine, one of the coudrilling operations. With members now in fourteen ,, Bid Asked ntrys . major silver producers. states, including investment firms, Pitchblende was', also, discovered electronic equipment ' manufacmine the in Coeur dAlene hearby. turers, uranium oz This is not an offering of these Shares for sale, or an offerto producers, These deposits are in sedimentary prospectors, nuclear scientists and The Shares. such of to of an solicitation or a offer any buy buy, or metamorphic rocks. offering is made only by the Prospectus. others, a new bumper crop of In the Marysvale district, Utah, uraniumaires could be expected NEW ISSUE i pitchblende is found in vein struc- when the Atomic Energy Commistures at depths greater than 90 sion permitted private initiative feet with secondary radium min- to assert itself, by granting patent erals at the surface. The host protection to the developers of new Reef located in rocks are. intrusives of early Ter- plans for the comfort and convenCapitol Properties tiary age and the Mt. Belknap ience of all Americans. and Indian Creek Mining Districts rhyolite of later Tertiary age. The The future uraniumaire may STOCK COMMON pitchblende is of Miocene (?) age. not only be the hardy prospector Vein and breccia deposits of or ore producer who discovers or Price 6 Cents per Share pitchblende are also found in Lin- mines the uranium ore. He may coln county, Washington; in Mon- also be the venturesome individOffering Circular may be obtained from the undersigned in more than ual. who launches a new enterprise tana; Arizona;-an20 deposits in the northeastern to labring to the world low-cos-t, of mineral the Front time saving Range part bor saving, and SALT' LAKE STOCK EXCHANGE BLDG. belt. PHONE 39 EXCHANGE PLACE, g devices' or services money-savinSALT LAKE CITY, UTAH. Disseminated pitchblende in sed- of an atomic nature, using nuclear imentary rocks is found at Macks power in one form or another. Member Salt Lake Stock Canyon, Arizona; White Canyon, The American people can look Please send me a copy of the prospectus relating to the Common Exchange Utah; and at Grants, New Mexi- forward to the comforts and adStock of Uranium, Inc. Salt Lake Stock Exchange Bldg. co. vancements of an enlightened and Suite No. Exchange Place Name Massive and sooty pitchblende far more enjoyable atomic indusSalt Lake City, Utah occurs in veins in the deposits at trial age when tho Atomic. Energy Address Quartz Hill in the Central City Law permits American inventive Reports on the above issues will be mailed free upon requests. district, at Prairie Divide in Lari- genius to protect their undeniable mer county, and at Ralston Creek rights under onr patent laws. Phone Teletype SU 180 in Jefferson county. cn Page 2) ' - . re-elect- Vice-presid- ent and-Executi- ye . . ,, - V? .. c :f Uranium Industry Producing of Enlargement Uranium Mill At Ney Higher Income Group Montieello -- re . - Found In over-producti-on - . - , . . Many Areas . . - , - . : Cut Zinc Output - ; m sky-rocketin- . , . . Deepest Well na -- . UNUSTED URANIUM , URANIUM, INC. CAYIAS brokerage eo. d Cromer Brokerage Co. 4-- 39 . . U |