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Show February The Western Mineral Surrey, Salt Lake City, Utah 12, 1954 Gas Developed Mine Workers .Stocks Active 'In January On S. L. Market To Supply Union Drafts .054 U M Utah Demand M 084 New Program xBounn Mil ............. .014 .094. ll M The the The executive board -- a Sales Last Sale 1954 JANUARY Listed Stseks High Blf Hill .M .014 0U A .014 xBrlital Silver .0894 xB Allion 19 .98 Cardiff 4000 - - of of Mine, In- Mill ternational Union drafted has Workers and Smelter a program designed to four-poi- nt Central Sid. xChlef Can. x Clayton Silver Colorado Can. Colb. RexaU Combined Metals Comet Coal's non-ferro- us ; as follows: Relief for the workers in the 'industry through a law to provide direct fedal assistance over and above present unemployment compensation payments, through immediate and. substantial wage increases to workers who are still employed, and through increased tax exemptions for all those earning $5,000 per year and under. 2. Passage of the Murray Prem ium Price Plan Bill, S. 1539, to provide immediate relief- - for the small and marginal mine operators "most seriously affected by the 'crisis. 3. A large-scal- e public works consume to gigantic program amounts of lead, zinc, copper, and other metals and to provide tens of thousands of jobs and to in crease the social and economic well-bein-g of the people. 4. Immediate steps to increase the foreign consumption of metals and goods containing those metals, such as electric wire, automobiles, household appliances, heavy ma chinery, farm machinery, farm equipment, and building supplies. Essentially, said the union, this means modifying or removing all barriers to world trade, including those which now exist between the Eastern and Western halves of the world, and by helping to promote industrial development of uncountries without derdeveloped and economic interferpolitical ence. union expressed The Mine-Mi- ll its philosophy by stating that the following are main contributing factors to the present situation: 1. Monopoly control of the in dustry which has been extended to new foreign properties in recen years. Production of these new : la mines, operated with low-wabor, is now displacing . U. S. and Canadian production. 2. Stockpiling which gave bon created artificial shortages, and boosted prices to fantastic levels anza profits to the monopolies supplying monopolies with an alib: for grabbing up new foreign mines 3. Pressure on Western Europe to rearm has brought on a genera! economic decline in those countries and has shrunken the mar ket for metals over there. 4. The choking off of trade with Eastern , Europe and China where large potential markets for metals now exist. The lack of trade between East and West Europe has also been a strong factor in the economic deterioration in the lat1. . . ge ter area. Tax Legislation Continued from Page 1 ciprocal trade pacts, and gold, silver and monetary policies, if en acted, will have a direct bearing upon whether the domestic mining industry can improve t its state. He complimented the lawmakers, par ticularly those from the west and those who have taken a real interest in minings problems, for the efforts they have exerted to strengthen the domestic industry in the national interest. Conover spoke of tax relief as a .major need of the industry. He emphasized that a proper tax cli mate would make it possible to step up the flow of venture capita' .needed to search out new mines and to find extensions of old ones as present ore reserves are work edout. 1 He outlined seven major goals A xEast Standard E. Tin. Coals xEast Utah xEmplre Eureka xEnreks Eureka OS .OS Ad .49 .00 IS .0094 .10 .11 .05 .0194 .174 .15 19000 94950 .07 .18 A7 .89 16100 .85 .074 .054 97684 .06' .15 .19 18478 1000 7185 17000 .194 .094 .04 .094 .194 . . rlS '.05 .084 .07 Crown Point r... xDragon E. Crown Point . . .. .094 .094 .04 .094 Mines Bnlllen . . Lilly Con. Mines - ".034 .084 .0994 .09 .91 95 .0894 xOU- - J .0094 .IS ............ - xProsper OU A Mng v xBiee Argentina xRoycten Coal'n SUver King Wast x8 liver Shield xSliver Standard xSlenx Mines Sa. Iron Blossom xSa. Standard xSuadanoa OU Co. Swansea Con. Tar Baby Tintlo Central Tlntie Lead Kennebee Keystone Lakeside Man. xLeanara Little May xMadison Mines Magnolia Lead A Oil xMsjeetle OU Mng. xMammoth Miller Hill Miners Gold xMone Kearsarge 0194 85 . 0994 .0894 40 .0994 09 .01 46000 81000 5617 85000 54000 88900 800 11000 98000 15500 10580 44950 5000 .0994 .88 .014 .09 .094 .08 014 Moscow ML States Dev. xMonntaln View 4000 .024 .014 .80 .094 .08 .... .04 Can. b Victor Con. xWestern Alloys xWest Toledo WUbert xWllliston Basin xYankee Con. Znma .014 .04 .014 05 09 .04 .014 094 .014 .84 .0294 .0894 .88 .0994 .09 . .0494 9100 .0494 .08 1.70 1000 90000 1840 40000 85 04 AS 0194 L .01 .03 .0494 .0194 1.70 .0494 .85 .0894 .014 .014 .064 1000 500 4000 .064 18 .09 01 01 .05 89 .08 1.80 o01t4 .19 .08 M .01 .044 9100 6191 11510 .87 .05 1.88 1785 .0094 9000 51 .98 1100 0194 .10 - 80 041 0194 91000 94595 .014 58775 1008 .17 Unlisted Stocks ...'. V .0194 84.75 87 TRADED 1,146,889 $184,588.87 xlndleatos . operating companies . VALUE Titanium Forms Huge companies statements will New Project economies in SEC Adopts Simplified Requirements7 Reporting than fifteen hundred and The Securities Exchange Commission today announced the adoption of a comprehensive revision of its general reporting forms for issuers of listed and other publicly. offered securities under the Securities Exchange Act of 1934. These forms provide for the reporting of detailed financial ancj information considered necessary to informed investment analysis and for the protection of investors. In the revised forms, the Commission has further eliminated the necessity for duplicating similar information in different reports. For instance, over half the items of information in the annual reporting form may now. be omitted by companies filing proxy statements with the Commission since the same information is contained in the proxy statement. These simplified reporting requirements should r e s u 1 1 in substantial savings in the burden and expenseof complying with the Commissions reporting requirements; and the elimination of duplication in the annual reports and proxy statements for the more other in the field of tax revision that obstacles to are needed to remove ' mining activity. These include: rate on income, (1) The over-a- ll either of corporations or of individuals, should not exceed 50 per cent; (2) expenditures for prospecting and exploration should be made fully deductible; (3) in carrying over a net operating loss to a year showing a net profit, mining companies should not- be penalized by the present tax law provision which virtually disallows percentage depletion in both years; (4) depreciation .allowances should be more liberal; (5) double taxation of corporate earnings first against the corporation and then against the same earnings when received by the stockholder-should be progressively eliminated; (6) new mines should be allowed a tax-fre- e period of at least three years from the time they, come into production;, and (7) percentage depletion must be continued, and liberalized. Conover told the Convention that the industry had made more than to the Con30 recommendations Committees regarding gressional the tax structure. He said that the House Ways and Means Committee has already incorporated some of these suggestions into the tax revision measure now being drafted and expressed the hope that further amendments may receive favorable consideration. - which file proxy likewise result in their examination and processing by the Commission. The new forms also represent a step in the Commissions endeavor to encourage the publication of reasonably complete and detailed annual reports to stockholders. All reporting companies will be required to furnish the Commission, as supplemental information, with copies of their annual stockholder, reports. The Commission intends to keep these in on file with proxy statements and other reports officially filed with it so that any interested investor can easily examinformation ine 'any available about his company. At the same time, the reporting forms encourage the use of stockholder reports to satisfy the Commissions reporting requirements, particularly as to financial statements, when they contain the necessary information. It is hoped that this will lead an increasing number of companies to include in their stockholder reports balance sheets and profit and loss statements which are sufficiently full and detailed to meet the Commissions requirements. It is the Commissions experience that more and more stockholder reports now include this information. . LAS ht 20-ye- ar . 2,640-horsepow- 22 Vi Slated For Australia Vice SYDNEY, AUSTRALIA president of California, T. L. Len-ze- n of San Francisco in a radiotelephone interview with the Sydney Sun said his company had set aside $10,000,000 as a start for the development of the newly, discovered oil find in western - ed metals for the security of the. free world. I . Titanium Metals Corp! of Ameri-ca is todays only titanium producer whose integration is comfrom mining to selling the plete fabricated metal an organization making outstanding contributions to the industrial progess and development of the West East 1st South Late News, Quotations, Information Service, on Mining-- , Oil, Financial - KEEP POSTED ON THE GREAT URANIUM BOOM $3.00 One Year $5.00 Two Years Subscription Order Enclosed find $ for which send me Western Mineral Survey for.. I Address . dont Salt Lake City, Utah PUBLISHED ONCE EACH WEEK g : er New Oil Development Western Mineral Survey The Commission also has simplified the procedures to be followed in' the trading of securities on an exchange before issurance (on a when issued basis). The simpler new procedure provides equivalent protection to investors and has resulted in the elimination of over. a dozen obsolete rules and forms. forget to start I again. BUTTES, WYO. Now - When, you stop to think, Worlds NEV.. leading producer of titanium the wonder metstrong, light-weigal is Titanium Metals Corpora tion of America, a jointly owned subsidiary of National Lead Company and the Allegheny Ludlum Corporation. In Titanium Metals Corporations plant at Henderson, close to Las Vegas, and housed in major units of the $150,000, 006 magnesium plant constructed by the government during World War n, titanium now is refined from ore to ingot. From a production rate of one ton of sponge per day in 1951, output has been increased at a steady pace. The element titanium was discovered by an English clergyman who was an amateur chemist with an inquiring mind.. In the black sands of Corwall, Reverend Gregor discovered an element which at the time attracted little interest, but today has become one of the most precious and urgently need- - The Commission has also adopted a comprehensive revision of its procedures governing the registration of new securities for exchange listing. The present requirement that applications for registration be .filed for additional issues .of a listed class of securities is eliminated, since the necessary information, is available ip periodic reports currently filed with the Commission. Thus, the of the additional application will be avoided without sacrificing any investor protection. The resulting .saving in time and expense, both to the Commission and the industry, however, should be considerable. fiL-in- VEGAS, CHURCH Church Buttes gas field deepest in the Rocky Mountain area and the field with the greatest pressure is booming into a development venture. Under increased demand for natural gas from the growing Salt Lake valley area in Utah, the Mountain Fuel Supply company has launched large-scal- e prospecting by geologists and seismograph crews. The gas field is 50 miles west of Rock Springs. Development operations are spreading through a vast, desolate area of Wyoming, Utah and Colorado. The field totals about 50,000 acres. The Church, Buttes field was the first to yield production in the tristate area. The first wells were in 1945. Production levels are at great depth, ranging from 12,894 to 13,378 feet below the earths surface. D. K. Bowen, manager of the Rode Springs headquarters of Mountain Fuel, estimates gas reserves reaching nearly 250 billion cubic feet, a supply. Gas transmission to eastern Utah has been greatly speeded by tiie recent construction of a compressor station, at the cost of $788,000, near here. This plant will increase the gas flow to the distribution area during periods of peak demand. It is designed to handle from 80 to 100 million cubic feet of gas per day. . de-velop- ed , 84.684 84.75 .10 SHARES DOLLAR A4 .084 .044 90000 10000 . xAmalg. Sugar Pfd. xUtah Fire Clay xUtah P. A L. Com. xZ. C. M. .15 98098 xUtah-Wye- 44 .014 xKentaeky-Uta- h .014 - .054 xTintie Standard xTrans-Unle- n OU xUn. Park City Utoh Cm xUtah Ida. Sng. Cs xUtah Ida. Bnr. Pfd. Hern Sliver xHowell Indian Qneen .46 5000 18700 91000 14900 084 Plntas Prinee Con Gold Chain xGrand Dep. Great West 94000 .184 PIamble Mines .19 .05 .09 .40 .05 .99 .0794 100 .014 A5 Seesrities Park Bingham xPark City Can. Park Ken old Park Nelson Park Premier .95 .02 M Mng.. xNew Park xNew Gainey North Lily xNe. Standard, 78055 5900 9000 5000 4200 96000 11800 7670 9000 8000 .S3 metals xCommonwlth .alleviate the ' in xCons. Esreka . outlined crisis. This program, on Crescent the unions official publication, is zCroff OU Eagle 7SOO .40 .05 .75 .0794 .90 .40 xN slidriver Nev-Ta- h OU ' , |