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Show March 30. 19S6 Tlie Western Mineral Survey, Salt Lake City. Utah Pige EigM Vitro Boasts Doubled Profit In '56 Program Vitro Corporation of America today announced that profit for 1955 nearly doubled that of 1954. Their most favorable comment centered on the Vitro Uranium mill in Salt Lake City. Two Day So. Utah Trek Planned For Rockhounds More than 200 geologists will participate in the Seventh Annual field conference of the Intermountain Association of Petroleum Geologists in Utah on June 28, 29 and 30. Announcement of the annual trek was made today by Chair- man P. R. Peterson, Texas Company geologist. Salt Lake City. Starting at Price, Utah the geologists will move southward viewing the geology of the San Rafael Swell, Book Cliff and Green River Desert county, Mr. Peterson said. The group will then move eastward across the Paradox Basin to Uncompahgre National Monument near Grand Junction, Colo. The trip will terminate at Charles Steens famous Mi Vida uranium mine, ; soxith of Moab, Utah. Emphasis on oil, gas and uranium discussions is planned for the two night trip, Peterson said. The Salt Lake City petroleum group headed by President James B...LaFevers, Shell Oil district geologist,' has conducted annual field trips since 1950. Registrants thus far received come from throughout the United States, Peterson said. According to J. Carlton Ward, Jr., president, the net income of the corporation was $437,857 pared with $271,758 in 1954. com- Net income before taxes and special charges for amortizing experimental and development costs at the Salt Lake City mill were $1,219,852 in 1955 compared with $521,836 in 1954. The year of 1955 has seen continued development of the growth trends of the corporation and an implementation of its program of expansion, President Ward and Charles S. Payson, chairman of the board report. With one exception each division of the corporation returned a profit during 1955, and although there are still activities requiring further development the indicated trends are generally promising, they added. Reports of operations wer highlighted in the annual report by the outstanding improvement in Vitro Uranium Co. , Salt Lake Standard Mining Ships From California Site Howard Steven S trough, president of Standard Mining Corp., announces that the New Penn Mine in Calaveras county, Calif, recently acquired by Standard from Consolidated Goldfields, has accomplished the first step of its schedule. Last week the mine started producing and shipping ore from the 300 and 400 foot levels at an estimated rate of 50 tons per day. The ore Is of sufficiently high grade to be shipped without further upgrading. It is estimated to assay close to 10 per cent copper, as well as substantial quantities of gold and silver, with the zinc content below the point at which it would carry a penalty. Provisions are being made for further development and the possible location of a second orebody, after the two known ore shoots on which work is presently being done have been exhausted, Strouth said. Rimrock Drills Southern Wells Rimrock Tidelands, Inc, of well, the W. F. Qrawford No. 1, test to Shreveport, has begun drilling op- will be a Smackover-Lim- e erations on two test wells in approximately 7,500 feet along the Uilam County, Texas, and St. Mexia Fault Trend area in Milam County. Tammany Parish, Louisiana. e Located on a lease Already spudded in and drilled near to block town 227 the a of first of the Ben feet, depth City, after several years of dethe well in Is the Souths Arnold, velopment of milling and processeast corner Newsom of Gwant ore. uranium ing and will drilled be Ney Survey Further expansion of the Salt Hi-Li- te Tidelands tools. Lake City mill is contemplated, . byTheRimrock block of acreage was asWard said, together with installa- 1 BIG SMOKE URANIUM was" sembled by D. A. McCrary and is tion of new and improved processes. supported by The Texas Company quoted on the Spokane Vitro Engineering Division, the mining market for and Union Producing Co. have also comonly one to sustain a loss, now the first time today, following Operations has a number of new contracts, succesful underwriting of 800,000 menced on a 2,500-acr-e Texas i'.c. the report said, several in the share at 25c to more than 500 Company farmout in St. y atomic energy field. subscribers. Black uraninite is d assem-bleParish, Louisiana, ' bulldozer a Oil Robert Shareholders were told that the being stockpiled by Company of by comparison of net earnings in crew in preparation for ship- New Orleans, which retained an 1955 was significant when it is ments. Drilling is said to be prov- interest and turned the operation realized that a substantial tax ing up sizeable ore reserves. The to Rimrock Tidelands for drilling. carry-ove- r benefit was available directorship has been strengthenThe 8, test wellthe in 1954. Gross revenues for both ed and the firm has leased a large Iwanta Realty Company No. years were approximately deposit of nearly ure silica on the located in the northwest of the. Spokane Indian Reservation a southwest quarter of secUonv25,:'f lew miles ffom its uranium township 9 south, . range 15 - east; '' in St. Tammany Parish' ''.Ten- .yj?'.-. 3,170-acr- . Mining . Over-he-Count-er Tam-man- . 000-fo- ot - Salt Lake Stock Exchange Thursday, March The Information listed from sources regarded guaranteed, but believed Listed Stacks xBonanxa Oil xBulllon Cardiff 29, 195S below is derived as reliable, not to be correct. Spokane Stock Exchange Mng. Mining xChlef Con XChlef Con. Pfd Chief Con. Warrants xColorado Con. . xColb. Rexall xComblned Metals xCommonwealth xCons. Eureka . Lead xDragon xEast Utah xEmpire Mines xEureka Lilly Con. Eureka Mines Gold Chain .. xOrand Deposit Horn Silver xlndlan Queen xKennebec Keystone xLakeslde Monarch . xLeonora xLlttle May O xMagnolla UTan. Mng xMajestlc Oil Cromer Brokerage Co. xMono Kearsarge Moscow Mt. States Dev. Member Salt Lake Slock Ex. Salt Lake City. Utah Snite He. 4-- 39 Exchange Place change Summary sent upon Bristol Silver' 7500 at 12 Colby Rexall 5000 at 33 Combined Metals 2000 at 14 Consolidated Eureka 100 at 77 ft; at 75; 500 at 77ft; 500 at 75 Dragon 1300 at 1.35; 1000 at 1.40 East Standard 22000 at 23 Eureka Lilly 1000 at 10 Great Western 1000 at 9 Lakeside Mon. 200 at 1.00 Miners Gold 15000 at 5 Mt. View 500 at 4 8000 at 4; North Standard 13000 at 19000 at 4 13000 at Park Nelson 1000 at 5; 2000 at 9 Park Konold 1000 at 8 . Prosper Oil 5000 at 14 Royston 3000 at 3ft; 950 at 3 Sliver Standard 1000 at 8 27000 at 8 Silver Standard 5000 at Tin tic Standard 800 at 1.30 3; xNew xNorth Standard xPark Bnlgham . xPark city Con. Reports on Sun Consolidated Uranium, Williston, Zuma, Uranium, also 1955 Salt Lake Stock Ex- xIndicates operating companies. Sales 2000 at Williston 1000 at 31 Zuma 3000 at 8; 8000 2000 at 9 Trans-Unio- WESTERN MINERAL SURVEY Reach an Interested market! n 5ft at 3; Saluting The Mining Engineers of the Intermountain Region 7; United States Smelting, Refining and Mining Company 9; 1000 Carb Bales Clayton 1000 at 26 Miners Gold 5000 at 5 North Lily 3500 at 65 North Standard 5000 at 4ft Prosper 1000 at 14 Silver Standard 5000 at 8 Tlntlc Standard 300 at 1.35 at 9ft; Newhouse Bldg. Salt Lake City, Utah PHONE EL 5-53- 01 . |