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Show Inly 22, The Western Mineral Survey, Salt Lake City, Utah Page Toni Phillips Corp. Mayday - Red Hill Merger To Build Hits Snag on Provisions Wash. Plant resources of of 19SS Mayday the Mayday UraNegotiations for merger Formation of Phillips Pacific nium Co. with those of Red Hill Uranium Corp., in process for Chemical Co. which will conseveral days, are stalemated. struct an ammonia fertilizer in southeastern Washington Mayday officials are said to have insisted that the terms of plant has been announced by K. S. the proposed merger be arranged on an Exchange basis of three Adams, chairman of Phillips shares of Red Hill for each two shares of Mayday. Petroleum Co., and Ray C. Fish chairman of Pacific Northwest A further provision insisted the interests of stockhold- Pipeline Corp., which companies upon by Mayday provides that guard ers a condition they claim has will jointly own the newly formthe newly merged company be not been obtained in some pre- ed company. called Mayday Uranium Corp. uranium company mergers. and stock be issued at $1 per vious The initial unit of the new Red Hill owns some excellent share. will produce 200 tons dally uranium properties in the general plant of anhydrous ammonia to serve of Despite the fact that the pres- vicinity of Moab. Jack Turner, growing fertilizer demands in ent stock of Red Hill is quoted on Moab is president of Red Hill. the intermountain, inland empire the San Francisco Mining Exuranium interests in and pacific northwest regions. Other change within a range of 36 cents which Turner was asto 40 cents a share, Mayday offi- sociated have been previously Phillips Pacific Chemical Co. with merged cials say that because of the the Odium interests in the new has made arrangemetns with Pacific Northwest Pipeline Co. unique situation of their com- Federal tieup. a natural gas supply of 15 for to insist upon pany, they intend cubic feet per day for million to said mentioned. believe Its officers are the ratio previously use as raw material for amthe that a merger with Mayday at is monia stock manufacture in the first quoted .Mayday might improve management and 10 on the share a cents unit of the new plant. about control. market uranium The plant will be designed by Max Smolik is president of in Salt Lake City. Mayday offiChemical Corp. and conChristiansen Robert and Phillips cials declared their attitude is Mayday structed treasurer. and is by the Fish Engineering secretary prompted by a desire to safe Corp. It is anticipated that .the plant will be placed in operation late in 1956, which will enable BUY supplying distributors in the area WANTED TO with fertilizer needed for the Stock Uranium 200.000 Shares May Day spring season of 1957. 200.000 Shares Uncompahgre Uranium Stock Plans for the new ammonia 100.000 Shares oi Gem Uranium Stock were made possible beplant 150.000 Shares of Overland Oil Co. Stock, Denver Colorado cause of construction now under 100.000 Shares Seagull Uranium Stock way by Pacifie Northwest of a 5.000 Shares Johnson Tester Stock transmission line Tork New Inc. from Electronic Stock, the San Radar Shares Juan Basin of 250.000 Mexico and New northwestern Stock. 100.000 Shares Lexa Oil Company southwestern Colorado to bring into WashAddress 308 West Second St., Tyler Texas the first naturalandgasIdaho. ington, Oregon -- over-the-count- er long-distan- "WHY PAY MORE? WE'LL GET THE CORE" Stocks to Watch By O. D. QUINLAN water diverted from the mouth of the tunnel. All equipment has been ordered but it wont be installed for three weeks. A small mountain will be shoved away from the road to make room for new snow sheds from the new tunnel to the highway which will make it possible to work all Uintah Uranium, Inc., Is reported to have 13,500 tons of ore blocked out and an inferred tonnage of 13,500 in addition, worth approximately $30 a ton. The companys properties are six miles south of Vernal, Utah. Few companies have enjoyed such good prospects at the start. Woody Searle, of Vernal, is president. Uintah at two cents a share is still in the public offerTar Baby is down in the ore ing stage with 15,000,000. The zone and almost any day one may underwriter is the James E. Reed expect reports of good ore on the Investment Co. former Shumway claims near Blanding. The news could be a A group of Texas investors are big surprise. said to be getting ready to purchase 200,000 shares of Uranium Yellow Wing Uranium of Las Corporation of America. The Nev., is said to be running present price is $1.50 or there- Vegas, $3000 per day gross from tungsabouts. A buying order for 200,-00- 0 ten production at its tungsten shares should give the stock at Battle Mountain, Nev. mine a shot in the arm. It is the opin- The has a 33 per cent inion of close students of UCOA, terestcompany in the mine and is reported once an upswing gets underway, to ambitious it could go as high as $4 a share. to 51 per cent.expand its interest Noland Schneider, executive of Coombs & Co. thinks some action is going to develop soon on a national scale in Federal Uranium stock. He said increased interest locally has been displayed ies. in Federal during the past month and by brokers nationally, who believe Federal should show a substantial increase in the next three or four months. "As Federal goes, so goes the rest of the market, Mr. Schneider admonished. ce This plant represents the first new Industry in the area to result from the availability of natural (gas. It Is expected by Adams and Fish to be the forerunner of accelerated industrial growth In the northwestern states based on the use of natural gas as a chemical raw material and an industrial and household Watch next week for important news of a possible working agreement between Baggs, Lucky Star and Sun Uranium compan- West Toledo Mining is still in beautiful good ore but it apparently has no effect on the stock which continues to lag. Olympic Uranium fell back to 2 and 2 cents. It Is still a good stock discounting the July Vagaries. Much work is taking place at Cardiff where the side of a hill is being moved and an old portal is being torn down, eliminating fuel. timber, some 500 feet of which to removed. The entire conNatural gas, they pointed out, is be with is probably the most versatile duit is to be underground chemical raw material known In addition to being a dean, highly efficient fuel . White Canyon Uranium has over $2,000,000 in the till and is producing uranium and manganese on a profitable basis. The manganese deposit is near Ariz. Phoenix, Management has reported discovery of a commercial gas well on companys San Juan properties. F. A. Sitton, of Dove Creek, Colorado and Phoenix, Ariz., president, was one of the first men in the uranium business on the Plateau. He was producing uranium during the second world war and during the first world war produced vanadium on the Colorado Plateau. Stock is now $1.75 bid and $1.87 asked. Stock of Royal Uranium Cor- poration had A sharp runup Thursday morning advancing from up to 74 cents a share cents. before easing off 55-5- 7 60-6- 8 NELL INSURANCE AGENCY The increasing rate of agricul- tural activity in the Northwest has resulted in a growing de- mand for nitrogen fertilizer. Since ammonia contains 82 per cent available nitrogen, the new plant will hdp satisfy this demand by providing the area with an economical source of this important plant food, said Adams and Fish. With (scientific luse of commercial fertilizers greatly increasing crop yields, replacing valuable soil minerals and cutting farm production costs, U. S. farmers are feeding 50 per cent more people today than In 1920 from fewer acres, they pointed Complete Insurance Protection Performance Auto NICHOLS AND Amy and Chemist Fire Phillips Petroleum Building Bus. Phone Res. Phone 47 Notice is hereby given of a special meeting of the stockholders of the Rare Metals Mining Company, which will be held at the Newhouse Hotel on Thursday, July 28, at 2 p.m. for the following purposes: a stock merger with Treasure Mountain Mining Company of Utah. 2. To transact such other business as may properly come before the meeting or in the adjournment thereof. Only stockholders of record of July 20, 1955, will be entitled to vote at this meeting. BY ORDER OF THE BOARD 62 26 Notice of Special Meeting of Stockholders of Rare Metals Mining Company 160 South West Temple Phone Theft M. G. NELL, Manager 1. To vote on DEAS0N Surety Bonds ALL FORMS OF LIABILITY - out. & OF DIRECTORS Reese Pope, Secretary |