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Show Pare I HIE WESTERN MINERAL SURVEY Wins Contract for Salt Lake Stock Exchange Exploratory Work of both the Spokane and New York stock exchanges. On Wednesday, Thursday and Friday it was the most active stock trading on the New York Stock Exchange. Nearly $2,000,000 worth of Sunshine was traded in the three days, of which approximately $200,000 changed hands here More than 155,000 shares were traded in New York and over 0 20,-00- here. dend distribution and reported net income after taxes of $25,781 for the first five months of this year, versus $22,155 for the comparable 1956 period. BUNKER HILL was reported to be planning to go into fluorspar mining in Idahos Lemhi County. LUCKY FRIDAY should reach its pay ore zone on the new 2,450 level the first or second week On the Spokane exchange, Sun- in August shine shares rocketed $1.95 WedIDAHO . MINING ASSOCIA-TION- , nesday, 90c Thursday and 25c toin convention at Sun Valday, with sales being recorded up ley, gave general indorsement to to $11.75 here and $12.37 in the Administrations long-rang- e New York. The stock has been minerals program but said it was selling at. around $8 recently. Operators urged a The rush for Sunshine followed Inadequate. peril point price of 17c a pound official word that indicated the for lead and for zinc; also famed North Idaho silver pro- removal of 14c imposed reducer may have brought in Wash-- . strictions onrecently the barter program. ingtons first commercial oil well. Considerable optimism over the The wildcat spudded in June future metal picture was noted 19 on a 5000-acr- e block near among delegates. Some predicted Ocean City, west of Hoquiam, better times before the end of flowed at a rate of 400 barrels the year.. a day in a drill stem test and ran 46 to 48 gravity, a beautiful green gold color. The depth was only 3,965 feet, making for comparatively low drilling Co. cost. Gas reached the surface in 3 minutes and oil in 14 minutes. Sid H. Eliason, chairman of the The oil is a premium grade high-gravit-y Western States Refining type. Production tests will board of not be made until after some two Co., Wednesday announced acquiweeks more of stem tests. Sun- sition of El Grande Oil Co., headshine has 5000 acres in this one ed by oilman George D. Fehr of tract plus other blocks of land Salt Lake City. in the coastal area and no doubt Mr. Eliason said the deal conwill drill other wells. sisted of an exchange of shares SIDNEL, last weeks of Western States common stock was by for shares of El Grande. Sunshine although it advanced to marks active a .. new .high of 85c. The acquisition .States into Western were" entrance of Rumore confirmed Shat the lead-zinc oil and gas lease purNorth Idaho producer the field of and has acquired a British Colombia chase development, Mr. Eliasilver-lea- d son said. property. The property, on Adams Plateau, was acTo direct this program, Westquired under an operating agree- ern States has established land ment with East Lemhi Mining and lease offices in the First SeCompany of Spokane. Sidney will curity Bldg., Mr. Eliason said. get 60 per cent of profits. Immediate drilling is planned of three ore shoots opened by surtest shipface trenching. A n ment to the Trail, B.C. smelter last year netted the Company $85 a ton. Sidney reportedly grabbed Pure Oil Co. has recovered an Centennial Development Co., Eureka, mine contractor, has been awarded contract for 2,000 feet of exploratory drifting and prospecting at the Bear Creek Mining Co.s Tintic District project. Bear Creek, domestic exploration affiliate of Kennecott Copper Corp., is conducting a search for ores in the district on properties controlled by Chief Consolidated Mines Co. and Tintic Standard Mining Co. with Tintic group of companies. The 2 compartment shaft has been sunk to 1,500 feet and Centennial is now engaged in sutting stations. After this project, it is expected that drifting toward areas of established mineraliza. lead-silver-zin- c tion will begin. Locates Well In Aneth Pool Area Three States Natural Gas Co. has located its Arrowhead No. 5 well in the of Aneth Pool, 760 feet from the south line and 2,000 feet from the east line, Section 14, Township 40 South and Range 23 East. west-extensio- n Western States Refinery Acquires El Grande Oil in Transactions over-shadowe- r, d Free Oil lumps Pure's Hopes 32-to- the property out from under the oil noses of several other interested encouraging amount of free formathe in Mississippian testing firms. wildcat in TRADING in several stocks was tion at its Big Flat was- reported it Grand County, unusually active early in the week before Sunshine ran away Friday. The firm conducted a drill stem with the ball. On Tuesday trans- test of the Ruby No. 1 between actions at the Spokane exchange feet and 7,732 feet 6,432 totaled nearly 50,000 shares worth 50 feet of recovered fluid Top nearly $30,000. Sidney accounted in the drill pipe was highly gas for about $10,600 of the volume. cut turn-ovedrilling mud. Some 830 feet Golconda had a 15,000-shart of drilling mud Grandview, 13,750 shares; camefrothy, followed by This next was Pend Oreille, 2100 shares. oil. No 450 of feet cut, gas green DAYBREAK URANIUM openthe was in water recovered test, ed negotiations with Dawn Mintoo. is which encouraging ing Company, Newmont subsidipressure is placed ary, for sale of at least 50 tons at Hydrostatic al 5,345 pounds per square of ore daily to the new uranium flow pressure is 130 psi; processing plant northwest of final flow pressure, 470 psi. c. Spokane which is scheduled to The test was taken following start operations next month . . . recover of 7 feet of core which Daybreak continues to stockpile showed voil staining and good The ore at three properties. porosity: Lowley lease shaft operatipn on below is the Spokane Indian Reservation Purefeet reported coring 7,732 looks very encouraging. - . El Grande owns oil and gas leases covering 9,000 acres of land in the Paradox Basin north of Mexican Hat. A part of these holdings surrounds the well presently being drilled to basement rock by Service Oil Co., in a e r; gas-cu- inch.-Initi- NORTH STAR URANIUM is getting nearly $3,000 for a car of uranium ore shipped to a Salt Lake City processing plant. JACK WAITES new president Harold E. Mitchell from New York made an initial inspection Oil, Inc., Salt Lake independtrip of the companys vast hold- ent says initial testing disclosed ings north of Wallace. He report- flow of 1,800,000 cubic feet daily ed wonderful cooperation from from the gas sands at its West-watAmerican Smelting & Refining Structure in northeastern the operating company and an Grand County, Utah. ' Pacific aggressive development program Northwest Pipeline Corp.,' which is conducting the testing, is now is underway. LINCOLN made its 33rd divi engaged in further retesting. Oil, Inc. Tells Early Test Results er Lleted Stacks Bid t arrangement with Three States Natural Gas Co., the Salt Laker said.. Asked Banner Mining 3000 .05 1000 East Utah-30-00 Great Western Intermtn. Pet. Cardiff Central Btd. Chief Cone. Chief Cone. Ffd Chief Cone Warrant! . Clayton Silver Colorado Con. Colb. Rexall Combined Metal Comet oCal'n Commonwealth Lead . Comatock Uran. ft OH Coo Eureka Crescent Eagle oil Croff OU at .18 Cork Sates Columbus Rexall 3000 13500 .25 Comstock 1000 at .24 Croff 4000 at .0716 Dragon 300 at 1.00 Big Hill Bonanaa Oil Mng. . Bristol Silver Bullion MiningMulllon Monarch ...... Majeetle 3000 at .28; 300 at .26: at .15 3000 at .10 300 at .15 at .03 Park Konold 350 at .03 Grand Deposit-30- 00 at .01K DENVER I Uranium Stacks crown Point E. crown Point Dragon ' The East Tintic Coaln East Utah- at at .IS; 3000 n wuiu ton following Bat of uranium stocks host of companies are currently producin' uranium and listed as shippers to the Atomle Energy Commission and which, while not listed m shippers by AEC, have an income la other aUaeral ... -- Empire Mines Eureka Bullion Kureka Lilly cons. . Eureka Mines Eureka Standard .... Qold Chain Grand Deposit ""p-nVf . Wednesday, My 24, 1057 ..... Great Western Horn Silver Interm tn. Pete., Inc. Kennebee . Keystone Leonora Uttlo May Majestic Oil Mammoth Miller Hill 'ft Mng. ..... Mono Kearsarge Moscow Mt. States Dev Mountain View N alldriver Hew Park Hew Quincy North Lily No. .. Standard Park Bingham Park City Com. Park Konold Park Nelson Park Premier Piute Uran. Corp. .- Plutus Prince Cons. Prosper Oil ft Mng. .. farm-ou- - 14-mon- th . Trani-Unlo- - : te star-performe- Friday, July 26, 1957 Mineral Low Institute Schedules Luncheons Topical luncheons are scheduled for each of the three days the Rocky Mountain Mineral Law Institute will be in session at Montana State University, Missoula, Robert E. Sullivan, dean of the MSU Law School and dirtc-to- r of the institute, announced. The institute on gas and oil and mining law will open August 1 and run through Aug. 3. Authorities on mineral law from Colorado, Wyoming and Washington, D.C., will be featured luncheon speakers, Dean Sullivan said. The attorney general of Montana and two lawyers from Billings, will preside at the noon meeting. Agency to Name 31 Gas, Oil Fields The Utah Oil and Gas Conservation Commission will formally designate the names of 31 natural gas and oil fields within the next 15 days. Silver sang West Sioux Mines So. Iron Blossom Sundance Oil . Swansea Com. Tar Baby . . . Utah Wyo. Cons. Oil Western Alloys Heavy Duty o o Bug. Com. Bug. Pfd. Zuma Ur. ft Oil Utah-IdahUtah-Idah- MACHINE TOOLS Sates Bonansa 2000 at for ludustry .08 Bullion 400 at .03 Columbus Rexall 0000 at .27; 4200 200 at .27; 3000 at .26; 11500 6500 at .25; 9500 at .25; 5000 200 at .26; 9500 at .25 Comstock 8000 at .24 Croff 1000 at .07 at at at -- East Standard 1000 at .08; 5000 1000 at .07 Grand Deposit 4000 at .01 Prosper 1000 at .05 Silver Shield 805 at .02 Silver Standard 6000 at .03 Eureka Lily at .07 URANIUM QUOTES .3 .3 .2 TODD Machinery Co. 140 W. 2nd South REPORTS ON RADOROCK EES. ... TRANS. UNION Asked Approx. Bid The agency, in with oil industry representatives, United States Geological Survey and others has adopted a list of names for the fields. At an early date, the Utah Field Names Advisory Committee headed by Richard J. Leuenberger of Sun Oil Co., Salt Lake City, will complete work on field names in San Juan County, perhaps the problem area in pool nomenclature. Only changes suggested in the list of 31 areas outside San Juan County are inclusion of the Walker Hollow oil pool of Carter Oil Co. in Red Wash Field and inclusion of the Jacks Canyon gas area in the Peters Point Field. CROMER BROKERAGE CO. Salle TWX SU-1- 80 3-- 4 Sail Lake Sleek Esckaage Baildiag, 39 Eickaage Place Salt Lake City, Utah Telephone EL 14 : |