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Show Ant September The Western Mineral Surrey, Silt Lake City. Utah 2 EDITORIAL Copper-Uraniu- m Should Many Pay For Few? t 1953 WESTERN MINERAL Ula Plans Mine Expansion SURVEY 431 News AdTertialnr - Circulation Phone Church Street Salt Lake City, Utah The first shipment of ore made last week by Ula Uranium Salt Lake City's 72 uranium brokerage firms along with 11 numerous uranium mining companies with headquarters here, Corp. property in the West Channel of White Canyon, is reported have been and still are the objective of close scrutiny that is to have assayed .43 uranium oxide and seven per cent copper. Entered aa aeeond dan matter at Salt The shiDment is said to have totaled 40 tons. trying the patience of many. tr J to Lake City. Utah, under At of Harch 3, m effoiiauons are rcportcu 1879. te in progress to extend mining Mountainous paper work, plus voluminous reports, have Subscription rates: $5.00 for two yeara; operations. meant long hours and inevitable additional expenditures. $3.00 for one year. Immediately after the first ore Please mention Western Mineral Sur KIABAB shipment the firm of Foley Bro vey when writinr to adrertiaera. Adver The launching of probes began early in the summer when thers, of New York, who were tisinr rates on application. a coterie of auditors, sponsored by the National Association of work, was of Kia-ba-b doing offexploratory Frank Hines, president Publisher it had HARRY B. MILLER the work for Security Dealers, descended upon local brokerage offices and Uranium Corp., is rounding paid FELTCH Editor GAIL was raised done. Cash reportedly Feature Editor began to ask questions. Some offices found it difficult to main- out his second week of personal by Ula officials. 0. D. QUrNLAN FRANCES JENKINS Adr. Manager tain their normal business pace and, at the same time, comply supervision of operations at the Company officials say negotia L. M. HILL Contributinr Editor River. Green near with the multitude of interrogations to which they are said to Kiabab mine tions are under way with four to the Kiabab office In a letter e large outfits to collaborate in have been subjected by insistent auditors, who made here, he expressed optimism as inancing the exploration and DENVER BUREAU demands for immediate compliance with complicated auditing to the future of Kiabab. program. News AdTertialnr Circulation lie said Kiabab is producing drilling procedure. It is expected President A. W. 723 Kitteredge Bldr. Denrer, Colo. last week from and dally shipped Bureau Chief of Ula will soon file NORMAN LEVTNs Hutchings, six to eight truck loads of ore to For the news of most sirolftcance In of and status a the The tired and harrassed brokerage fraternity mining the Union Carbide report outlining the minlnr and oil world. refinery at company activities, with particu audiis This it second a now are time, facing probe. companies Rifle, Colo. lar emphasis on plans for fi No lime penalties are extracted tors of the Securities and Exchange Commission, who come here All news appearing In the Western nancing. Mineral Surrey la obtained from sources he said, which is a substantial fresh from a survey of Denver uranium brokerage procedures. Ula holdings in White Canyon bettered to be reliable but no responsisaving over the shipments to are near those of Bine Lizard, bility is assumed for accuracy of As soon as the agents of the Securities and Exchange Com- Vitro Chemical Corp., here Happy Jack and Gismo. Gismo mission complete their question and answer period, local ura- which included penalties for is reported in the process of be Reproduction of any material from thii nium brokers will be subjected to a third investigation in the lime. by Uranium Chief publication nt purchased must hare written permissioa Hines indicated truck load nature of a Congressional Investigating Committee sent out from shipments will be accelerated which is to be absorbed by In from the publisher. ternational Oil and Metals. Washington, presumably to find out what is the matter with soon. A International, front It is estimated over a half a end loader, is now operating un- million dollars has been Salt Lake City's uranium business. spent, der ground. It was necessary to thus Ula prop far, developing They point out, and perhaps, with some justification, that dismantle the loader to get it erty. Foley Brothers are calcu of the nation, into the mine, then reassemble major transgressions, tolerated in larger centers lated to have spent a quarter of the bent forces parts. corrective while upon to appear a million and Ula is said to have Gas-O- il appear go unnoticed, Kiabab officials said ore ship spent about $160,000. Drilling to a unified drive to make the Rocky Mountain uranium industry ped thus far has New Mexico Bureau from JZS date is assayed to have disclos conis business securities reported the uranium as insofar white." to .35 per cent. The Bureau of Land Managelily ed excellent prospects. ment at Santa Fe., N.M., is adcerned. The company is reported to be vertising for bids for oil and gas working on three distinct faces With the Congressional probe scheduled to end this month, of ore, on six days a week basis, leases on ten parcels of land withSalt that all of concerned, for the in the known geological strucwith crew is of a good the hope four men, Hines expressed, from ture of the San Juan Field in reported. Lake City will be permitted, at least a breathing spell In Kiabab development work has northwestern New Mexico. outside supervision of the accounting practices of the various The Nev. The ten parcels total approxiLovelock, Navy may greatly increased over what it business. was 30 days ago, according to cut out 100 uranium claims in mately 3075.83 acres. The sale companies identified with the uranium Hines, who said additional drill Pershing county, Nev. if it car' will be held at Santa Fe at 2 pjn. as a construed be not should few of a tactics unethical The ing has been completed at this ries through plans for creating a Sept. 28. The land being ofered includes: particular moment with substan gunnery on the property. criterion of the methods of the majority. In a report made recently by Parcel 1, 199.88 acres in Sectial findings in all of the holes. the focused has been some In of the holes the work George Leingang Enterprises, tion Parcel, 2 480 acres upon Perhaps too much attention was that noted the land it Parcel 3, in Section and fabulous wealth is drifting to run as high as 1.38 Reno, Rocky Mountain area because of the sudden, was on filed the before in Section 240 acres said. Hines he Navy estimated cent, per that came to a few people when huge uranium discoveries were there is six to eight feet of good expansion plans were made Parcel 4, 160 acres in Section made three years ago. Parcel 5, 80 acres in shipping ore available which Kia known. More than $12,000 work Parbab intends to get into within the has been done on the claims, Section 29 and the noted. of 7 acres Sections in 480 and cel series next two the report 6, weeks. Leingang probes It will be a pleasant interlude when The Chamber 400 in acres Parcel 7, Pershing County and investigations now contemplated are finished and the uraof Commerce and the Leingang Section 320 Parcel 8, nium brokers permitted to resume normal business free from firm are protesting the action as acres in Section Parone the the acres make of cel 9,395.95 in Section up properties inquisitorial interrogations. In most valuable areas in the Per and Parcel 10,320 acres in Section Oil Co. now shing county mining future. ELY, Nev.-S- hell has three producing wells out of six drilled in Railroad Valley, 65 SEC miles west and south of Ely. setThe newest producer Eagle The Securities and Exchange the Commission statements Wcu! interests their is now bringing anforth identity, Springs ting Commission this week took having a bear- in 432 barrels a day, according other step toward clarifying hazy and connections or the to a Shell spokesman. He said solicitaton the upon or outdated regulations contained ing contest. several recent tests showed 440 in the Securities Exchange act of barrels per day gross fluid or The aim of the change, the SEC 432 barrels of production oil. 1934. to specify more adeThe Eagle Springs well is drill The new proposed amendment reports, is quately and clearly the informa- ed to 8050 feet. The. producing deals with proxy rules. to be included in the case interval of the well is not tion Under the proposed change all known, a of proxy contest. however it is believed to be participants in a proxy contest would be required to file wi'th Certain of this information above the 8050 foot level. Shell Oil operations in Railroad would be required to be included statement ma- Valley started several years ago in any Right now the circulation oi the WESTERN MINERAL SURVEY It now has headquarters in Ely terial and all of it would be reis keeping pace with the uranium industry in general booming! in the sub- which handles activities of Ne ATTENTION MINERS quired to be included Keep posted on latest news and quotations by reading the vada, the Great Basin in Utah sequent proxy statement. and the Snake River Basin in WESTERN MINERAL SURVEY regularly . . . every week. We have the largest stock of At the present time, according Idaho. suction and discharge hose in to an SEC report on the proposed the Intermountain area. From change, the management is reSUBSCRIBE NOW! 516 inch to 6 Inches in dia- quired to furnish an opposing Strange". meter. This hose is all governsecurity holder or group of hold- Probed By AEC I 2 years $5.00 year $3.00 ment surplus, new and used. ers with a list of security holdA unique uranium occurrence ers or proxy material. Also electric wire and pumps. near Pioche, Nev., is being inves Circulation Departments PHONE COLLECT OR The existing rules provide that tigated by the Salt Lake Explora such material need not be mail- tion Branch jof the U. S. Bureau WRITE 722 Kiilredge Building 421 Ckuch Street ed until the management mails its of Mines. Salt Lake City. Utah Dearer, Colorado Don't pass this one up The examination is being con own material. This provision would be chang- ducted to learn more about the NAME B & L SURPLUS geologic environment of this ura ed to require the management nium type. Drilling is limited ADDRESS SALES to mail material promptly upon to four or five holes totalin P. O. Box 150 - Ogden, Utah its receipt, provided it is received about 600 feet. CITY STATE not more than four months prior date from Geologic resulting Phone 24345 to the date of the proposed Remittance Bill me latex the survey will be made public after final evaluation. 13-- 11 HINES REPORTS ORE OPERATIONS short-notic- T-D- -6 New Mexico Bids Out on Ten Leases Navy Threatens Claims Nev. . Shell Has Three Producers Nev. Proposes Proxy Rule Change 15-3- ubtctifo 2 Interested In Uranium Activities? MtM't?... pre-prox- y U-Fi- nd |