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Show Page 2 Excise Tax On Transportation Can New Metals Go. Be Repealed WithoutRevenue Loss Merges With Top Treasury officials have said that they are opposed to tax reductions at this time which would involve a net loss of revenues to the government. That is understandable in the light of world events, and the huge appropriations that Congress will make this year. However, there are two taxes damaging and unfair taxes which could be repealed without substantial net loss to the government, and with even the possibility of a net revenue gain. These are! the excise taxes on transportation, which add 10 per cent to passenger fares and three per cent to freight charges. The reason why repeal would cost the government little if First, a major part of these taxes is any revenue is two-foldeductible as business expense and hence reduces the amount which the government would otherwise collect through income taxes. Second, the taxes are a heavy drag on commerce, reducing the flow of business and thereby decreasing further the amount of net income subject to income tax. d. Bonanza Gorp. one. They came into being as World War II sures, and at that time it was said that they would be repealed when the war ended. Their purpose, in large part, was to discourage the use of transportation facilities needed for the war effort. There is neither justice nor economic sense in keeping them in effect. emergency mea- Nation Observes Edison s Birthday February 11th will mark the 110th anniversary of Thomas Alva Edisons birth. A large group of leading citizens, from government, industry and other fields, have founded an organization called the National Edison Birthday Celebration to properly memorialize the event. is fitting that this be done. Few men in history have g contributed so much as did Edison to the of humanity. His inventions and discoveries were legion. Foremost among them were those making possible the universal use of electrical energy. From Edisons work came one of the greatest and most the power and light industry. progressive of all our industries revolutionized the living and working habits of It has utterly and its contributions to human comfort and happithe nation ness are literally inestimable. well-bein- - i i Chairman Named To Arrange Program for Mining Convention A. H. Shoemaker, Lead, S.D., general manager of the Home stake Mining Co., has been named program chairman for the 1957 metal mining and industrial minerals convention of the American in Mining Congress, Sept. Salt Lake City. 9-- He will have the overall reresponsibility of developing' the event program for the three-dato be attended by between 2,500 y and 3,000 persons. General convention chairman is L.F. Pet, general manager of Utah Copper Division, Kennecott Copper Corporation. WESTERN MINERAL ' SURVEY Drilling Deal Arranged by Oil Go. and U-Fir- m SANTA FE, N. M. Another deal with a major oil company for uranium exploration work in ithe Ambrosia Lake and Smith Lake areas of McKinley county was announced today by United Western Minerals company of Santa Fe. The farm-ou- t agreement just completed and signed is between Superior Oil Co., of Los Angeles and United Western Minerals Co., and its partners J. H. Whitney & Co., White, Weld & Co., and San Jacinto Petroleum Corp. The farmout covers five sections farm-ou- t as follows: Sec. 32, N, SE y4, N SWV4 Sec. 2, R-12- Sec. 32, T-1G- N, T-15- R-11- T-14- N, R-9- Sec. 16, T-16- R-11- Sec. 36, All of these are Mexico New XXWS CIRCULATION general mining leases and production will carry 421 Church Street Phone EM 2402 Curtla 8t., Denver ALplne the standard 5 per cent royalty ADVERTISINGS to the state. EM Sox 2608 Terms of the contract call for Salt Lake City, Utah a quarter million feet of core drill2402 Curtla St, Denver ALplne ing on the claims, or 50,000 feet Entered as second class matter at Salt in each of the sections involved. Lake City, Utah, under Act of March 3, This is Superior Oil Companys 1879. first venture into the Ambrosia Subscription rates: $5.00 for two years; Lake area. Under the contract Su$3.00 for one year. cent Please mention Western Mineral Survey perior will acquire a 50 per when writing to advertisers. Advertising interest in each section upon comrates on application. pletion of its drilling obligation. 50 per cent of any L. M. HILL Editor The remaining ore discoveries will be divided AU news appearing In the Western United Western Minerals 25 per Mineral Survey Is obtained from sources cent, J. H. Whitney & Co., White, believed to be reliable but no responsibility Weld & Co., and San Jacinto is assumed for accuracy of statements. Reproduction of any material from this Petroleum Corp. each 8 1s per publication must have written permission T-16- 40 from the publisher. cent. R-12- Oil Terms Oklahoma Tests Successful Utah-Souther- n Utah Southern Oil Co. Friday successful testing of its announced The Department of Investments confirmation discovery in the a of the Commissioner of CorporaArea of Kingfisher County, tions for California today issued Okla. its Permit authorizing New MetGeorge T. Hansen Jr., operaals Corp to merge into it Bonanza for the Salt Lake Corp. on the basis of one share tor manager of New Metals for two shares of Bonanza. In addition, the CorporLow-YielIn-ol- ations Commissioner gave its approval to the Trust Department of the Bank of America at Los Angeles to act as escrow holder for the stock issued to Bonanza stockholders. This merger by New Metals Corp. in in line with the program set forth by a group of young mining and business men who old Calitook over the fornia corporation last year. The These taxes are paid by the users of transportation, not group is headed by Jackson B. by the carriers, and so are a direct or indirect burden on every- Howard, district attorney for It Friday, February, 8. 1957 THE WESTERN MINERAL SURVEY d New Tests Planned For A-Weap- 9,130-9,14- 8 ons . 50-ye- ar Southern Utah and prominent as a mining attorney. His law firm of Sandgren, Howard & Frazier has been legal representative for more than 40 mining corporations. His offices are in Provo, Utah. The merger brings into New Metals Corp. several excellent properties in addition to large amounts of working capital. One group of 500 claims are in the State of New Mexico. It is proposed that these 500 claims be developed on a joint venture basis with New Metals putting up cash and associate companies putting up equipment and supervisory personnel. Other properties are located in Colorado, Utah and Arizona. independent, said that as a consequence drilling on the 9,500 acres in leases held by the firm would be a major project in 1957. The Utah company had previously completed the Pope No. 1 as an Inola formation natural gas and distillate producer on the spread in 1956. Its Hill No. 1 picked up apparent commercial shows of oil and gas in seven different sections. The best appears to be the foot zone in the Marshall Washington, The Atomic Energy Commission is planning to lold a new series of atomic tests in Nevada late this spring apparently involving nuclear antiaircraft weapons. The AEC said Thursday in announcing the series that it would nvolve low yield tests. It said a major objective of the tests would deal with weapons for defense against attack. The commission said the exact date for starting the tests series will be announced later. Newsmen will be permitted limited on site reportage of some of the explosives just as they were during the last Nevada tests in 1955. The A EC also announced that during the year it will conduct separate Nevada tests relating to the safety of various weapons and experimental devices in the event of accidents such as fires during handling or storage of nuclear materials. In addition to shipping uranium These tests, started Nov. 1, are aimed among other things, ores from the Little King Mine, at making sure that atomic matNew Metals is exploring and developing its properties which con- erials do not catch fire and are tain titanium, yttrium, tantalium stored safely. and thorium. These are a few of Apparently mindful of some the fascinating metals coming into fears about radiation effects, the prominence in the atomic age commission announced that an which, Mr. Howard stated, will extensive radiation monitoring offer tremendous opportunities to network will again be used durthe companies that go after them. ing the spring test series. It also noted that high yield weapons Mr. Howard stated that the tem- never are tested in Nevada. porary setback recently experiTwelve radiation monitoring enced by the securities of the ura- teams provided by the U.S. Pubnium industry was both necessary lic Health Service will be stationand desirable and gave it a chance ed communities in near Frenchto digest the spectacular gains to test mans fallFlat radioactive made during its initial boom. It out new tests. from the has shaken out the weak companPublic Health Services moniies and has enabled qualified tors also will be located in about companies to consolidate their po40 cities scattered through the sition for the development of this new source of power. nation, just as they were during the H- - bomb tests at Eniwetok Several other mergers are pres- last spring. The Commission itently being discussed by the di- self will have monitors at 12 rectors of New Metals Corp. The stock is listed and trading on the San Francisco Mining Exchange. sands. During the 15 minutes drill stem test in this zone gas rose to drillthe surface in ing mud in four minutes and distillate of degree gravity (American Petroleum Institute scale) in seven minutes. The well is rated unofficially at about 10 million cubic feet daily of natural fas through 58 inch choke with undetermined amounts of distillate. The wildcat, located of a mile from the Pope No. 1 discovery also tested natural gas flows in the Simson dolomite, oil in the Osage formation, in the Inola and natural gas in the Chester limetwo-minute- s; 52-5- 4 three-quarte- rs gias-distilla- te stone. No attempts at multi-completio- n will be made at this time, unless the completion in the Marshall proves disappointing. And that appears unlikely. 19-5- 5, . long-rang- e High Hopes Rise On Atomic Engine Tests At Idaho Site A General Electric Executive said Saturday there is optimism over an atomic military engine undergoing tests near Idaho Falls . Idaho. John M. Hobbs, manager of G atomic equipment manufacturing section, reported to a conference of highway officials: The men who are testing it are very, very optimistic and they have run into no problems which they feel cannot be solved. The Atomic Energy Commission operates the National Reactor Testing Station near Idaho Falls. Es NOTICE TO MINING COMPANIES Tungsten Ore Starts Through Mill Milling Co. has commenced concentration of four railroad cars of tungsten ore from the Newfoundland Distrct, Box Elder County, H. G. Metos, president, said Thursday. The ore is from the Sun Uranium, Lucky Star and Baggs Uranium operations. The mill at 2145 Indiana Ave., Salt Lake City, is buying the ore in anticipation that additional Sun-Sta- r appropriations will be forth coming shortly in the federal governments domestic tungsten stock piling plan. IRON ORE DEPOSITS FOR LEASE S5Fe averare. Low phoa. and sul. Qualities for foreign and domestic Southern California. Large Tonnages. CHARLES H. HUFFMAN $923 Keiton Avon no IjOr Angeles 64, California or-fer- a. 500 Claims in New Mexico Development Capital Available New Metals Corporation has recently acquired thru merger 500 claims in the State of New Mexico. Due to work in progress on other properties these 500 claims in New Mexico will be made available to one or more qualified companies for development on a farm-oor joint-ventubasis. New Metals will put up cash ut re against equipment and supervisory personnel. - Write New Metals Corp., 730 Crenshaw Blvd. LOS ANGELES, CALIFORNIA FROM UTAH'S MINES - A BETTER UTAH The 1956 assessment of mining property in our state was 27.5 of the total assessed value of all property in Utah. As a result, taxes paid by mining were an Important factor in governmental financing. The mining industry is proud of the part it plays in helping to support education and other government services that mean better communities for the people of Utah. UTAH MINING ASSOCIATION "From the earth comes an abundant ' life for all " |