| Show Up and Down the Street Ceiling Above Above Above- Prices Seen for lead Zinc I By Br Robert W. W Bernick The announcement this week that the government was prepared prepared pre ceil ceil ceiling pared to negotiate the ing prices for copper from high high- cost producers could be a prelude to similar action in regard to zinc and possibly lead It also is an extension of the practice of the Defence Materials Mater Procurement Agency in granting above ceiling pric prices s for copper from newly developed mules mines D DM M l P PA A and other agencies have agreed to a 1 cent over ceiling ceil ing price quotation for copper produced at Anaconda Copper Mining 1 Co in Yerington erington Nev Nov for example So it appears high cost producers producers producers pro pro- who cannot survive in the Ule wave of wage increases and greater materials costs at 24 cents per pound for copper now will wilI receive a better price from the government Zinc however is as critically I short short short-if if not more so than so-than than copi cop cop- I per It I not only is a defense metal of the first degree it also is widely videly used in civilian industries indus tries such as manufacture of all al sorts of hard goods up to and including automobiles Utah zinc silver producers recently produced statistics that the cent 2 hike per pound in lead lend and zinc authorized this fall fail fal by bythe bythe bythe the government would not offset the 15 increase se in labor costs freight rates and higher smelting charges from the same wage hike Jess Larson head of oC D M 11 P A said the new copper subsidy was necessary just to maintain present present present pres pres- ent production A similar situation soon may face the west's underground lead lead- zinc silver mines mines mines-If mines mines-i if it doesn't already Just to maintain present production production pro they might well wel be beI I considered in the same light by I D M P A the 11 as high cost copper copper cop cop- per producers AWAIT VAIT AWARD DINNER Consolidated annual annual an an- nual safety and service award dinner and Christmas party w will willbe willbe be held Saturday night in Newhouse Newhouse Newhouse New- New house Hotel Hotel Leo McCorkle terminal manager manager man man- ager here said 10 and guests would attend BANK DECLARES DIVIDEND ENDI Walker Bank Trust Co directors directors di di- rectors Saturday had declared I regular semiannual dividend of I per share payable Jan 2 to stockholders of record Dec 24 j The directors also approved transfer of from undivided vided profits to surplus This increases increases in in- creases surplus of the bank to Capital of the bank hank is 1500 00 Object of the transfer was wa to increase size of any single loan from to Such loan sizes are governed by 15 of the total of surplus and capi capi- tal tal DIVIDEND PAYMENT The recently declared Ic lc per share dividend on stock of the Independent Coal and Coke Covill Co will vill vil be paid Wednesday to shareholders shareholders shareholders share share- holders of record Dec 12 firm officers reported Saturday NEVADA MINES MIES PAY Nevada Mines Division Kenne- Kenne cott cot Copper Corp McGill McGil Nev will wil pay its in retroactive pay next Saturday as provided by recently negotiated labor contracts contract But the will wil take home only about The rest of oC the te money will wil be with held in taxes and for social security benefits FINANCE FIRM DIVIDEND Time Finance Corp has declared de de- de dared a per share dividend payable on stock Thursday Thursday Thursday Thurs Thurs- day to shareholders of record Saturday The Salt Sal Lake firm also reelected reelected reelected re- re elected all al directors They include include in in- clude elude Gov Gas J. J Bracken Lee Jack C. C Curtice athletic director University Uni of Utah Leland B. B Flint president Flint Distributing Co G. G Bruce McKee vice president Salt Sal Lake Hardware Co C. C Lynn H. H Clayton Pembroke Co Oscar W. W Moyle Jr attorney Rudolph Or- Or lob chairman of the board Industrial Industrial In In- In-I In Supply Co land Ernest I W. W Fallentine investments all al of Salt Sal Lake City and Russel T. T investments Provo Profits of the firm were for the fiscal year ended Oct 31 compared with wih for the corresponding period last year |
