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Show Salt Lake City, Utah, July 23, 1954 Vol. 25; No. 31 est r Word A feline Levy Hike The mining industry was still wondering and waiting for sonic ord from President Dwight D. Eisenhower on the protarrif hike when this paper went to press Thursposed lead-zin- c day. The administration sought an extension on the time limit when the President has to act on the Presidents request for adthe tariff recommendations pro- er ditional time to act on tariff recthe U. S. Tariff Composed by mission, a limit that fell due midnight Wednesday. Pressure increased on the' lead-zi- ommendations. nc question early in the week as letters, wires, and comments poured in from men in the mining industry, congressmen, and interested persons from both camps. Almost all the cabinet lev- ( el departments, as well as Congress, has spoken in favor of the recommendations, which would raise lead-zin- c import duties by a 50 percent hike. Only the State Department has come out against the bill, along with the CIO. Otto Herres, Salt Lake City, chairman of the National Lead and Zinc Committee, telegraphed the chief executive that United States miners are exceedingly disappointed by delay just announced in providing for relief for the lead and zinc indus- try. Grand Deposit Makes Shipments From Nev. Mine Lead, silver, gold ore is being produced during the process of development by Grand Deposit Mining company from Its property on Muncy Creek, White Pine County, Nevada, according to smelter settlement sheets in the office of the company in the Ness Building, Salt Lake City. One lot shipped during June showed assays of .305 ounce gold, 5.3 ounces silver and 49 lead to the ton, resulting ini net smelter returns of $107.57 per ton. During July, a 20 ton shipment was made having assays of 28.75 percent lead, .08 ounce gold and 2.65 ounces silver to the ton or a smelter net per ton of $53.40. Another lot is now at the smelter pending settlement out dur' The ore is' being-takeing exploratory work projected on the 800 foot level of the mine, according to Mr. Paul Lyon, Jr., company secretary, who reports that the new ore deposition has been opened in virgin territory iq an area lying northwest of the main Grand Deposit shaft n - It was noted in response to the State Departments failure to support the recommendations that Secreary Dulles told Congress May 4, 1953, that American industry was entitled to quicker action than in the. past and that indusproblems of the lead-zinc try could be met adequately under machinery of reciprocal trades agreements..:,,, It was on the advice .from high administration officials that the mining Industry chose to seek escape clause rather than legislative relief. Rep. Douglas R. Stringfellow (R., Utah) wrote Pres. Eisenhower Tuesday, urging immediate favorable reconsideration of the and Sen Arrecommendations, V. Watkins thur (R, Utah) said he was deeply disappointed ov , One Year $3.00 Zinc Production 7 Firms Publish Offering Circulars Drops 500 Tons-- ' As. USC Okays Stock Issues U-O- Domestic mine production1 of recoverable zinc declined 500 tons to 39,400 tons in May, according to the Bureau of Mines, 'United States Department of the Interior. Total output for January IJxrpugK May was 199,200 tons, a monthly average of 39,800 tons SsT comaverage pared to the 44,600-to- n established in 1953. Mine output of zinc In States East of the Mississippi River declined 400 tons to 13,700 tons. A grain of almost 100 tons was recorded in Northern Illinois and Wisconsin, but the New Jersey-Ne- w ia mine group output declined almost 500 tons. Recoverable zinc from mines In the West Central States totaled 5,100 tons, a gain of almost 300 tons, despite a decrease in Missouri output brought about by lessened output from the Quick Seven mine which is being readYork-Virgin- ied for closure. The combined Western States re 1 uranium firms ii'JDfering Circulars for seven newly-forme- d came off the press this week at Loraine Press, Salt Lake City, homhof pie Western Mineral Survey. Acme, Gero- nlmo, Camanche, Republic, Moun- value 5 cents, at 20 cents per tain Mesa, Utah Moab, and' King share. The Comanche Offering CircuMidas, were all okeyed to issue was a second edition. lar stock recently by the Utah State Securities Commission. Latest of the companies to ofSeeks fer stock on public offering were Canadian Republic, Mountain Mesa, and Listing on S. L. Mart Utah Moab. Hawker Uranium Corp., an EdRepublic is offering 12,500,000 monton, Canada, firm with holdshares to the public at lc per in the Beaver Lodge urashare, with 1,875,000 held on op- ings nium of northern Saskatbelt tion. chewan Province is seeking to Utah Moab is offering 1,200,000 shares on the Salt list its .01 cents, at shares, par value Lake Stock Exchange. 25 cents per share, or a total ofS. Donald Moore, Edmonton, fering of $300,000.00. Mountain Mesa is offering president, was in Salt Lake shares common stock, par City for that purpose. UTh&-companie- s, U-Fi- rm produced 20,500 tons or somewhat less than the 20,900 ton output of April. Small production Increases at the Iron King and Trench properties, Arizona; the Van Stone and Pend Oreille mines,' Washington; and in zinc recovered from hot slag at East Helena, Montana were more than offset by production losses in Utah, Ida ho and Colorado. All zinc mines in New Mexico continued to be , . dosed. . Zinc Oxide FeelsPinch Firm Plans Stock Offer Domestic production of zinc ox(lead-fne- e and leaded) in May Offering to Utahns of approx8 percent below the output was imately 25,00 shares of Banner Mining Co., stock at $5 a share in April and the lowest since Dewill be made later this month cember 1949, according to the Bureau of Mines, United States Deor in early August. Principal stockholders of the partment of the Interior. Lead-fre- e zinc oxide producArizona Copper Co. including tion was Rico Argentine Mining Co., virtually the same as Bonneville-on-the-Hilin that Inc. are April, namely 10,100 tons not expected to exercise rights while output of the leaded vaof the closely held firm is one riety declined from 2,900 tons to 1,800 tons. object of the offering. Producers stocks of oxide de- ide l, .. - Subscribe Now Western Mineral Survey Salt Lake City, Utah 421 Church St. clined considerably during the month; inventories totaled 25,000 tons on May 31 compared with 27,100 tons at the end of April. Of total ending stocks in May, zinc 16,000 tons were lead-froxide and 9,000 tons leaded zinc ee oxide. Shipments of zinc, oxide (lead-frein May increased 6 percent to 13,600 tons whereas shipments of the leaded grades decreased 14 perreent to 2,800 tons. e) Published Once Each Week Late News, Quotations. Information Service, on Mining, Oil Financial KEEP POSTED ON THE GREAT URANIUM ROOM $5.00 Two Years S3.00 One Year Circulation Dept. 22 Vi East 1st South Subscription Order for which send me Western Enclosed find $ Mineral Survey for : . Name Address : Sulphur Production The domestic sulfur Industry produced 465,360 long tons of native sulfur and 31,000 tons, of recovered sulfur (of a purity of 97 per cent or greater) during the month of May, according to reports of producers of the Bureau of Mines. United States Department of Interior. Producers' stocks of native sulfur Increased slightly over the previous month and at the end of May stood at 3,192, 607 tons. One of the local Drilling Contractors shown at work In the Utah Uranium Area. The prospecting and evaluating of claims In this district goes on at a feverish pitch. |