Show No Early Crackdown on Stock Sales Expected by Officials DENVER Uranium DENVER Uranium stock IssueS Issues Issues Is- Is sues will not be effected by new Securities and Exchange commis- commis Ion regulations for fot at least another er month This Is the view of ot J J. J Sinclair Armstrong SEC chairman as told to P. P Is I.'s uranium Information In an exclusive Interview Armstrong told the weekly reporting service for tor the nations nation's nuclear energy materials Industry that the commission commission com com- mission n has studied the matter for many months but I dont don't think we ought to be In a terrible rush We dont don't want to be hasty I ISEC SEC regional directors will meet In Washington next week to discuss discuss discuss dis dis- dis- dis cuss changes proposed in regulation regula regula- tion A which the majority uranium stock issues have been offered to the public The proposed proposed proposed pro pro- posed SEC changes would tighten lighten sales of Stock In Issues of 1 or less It Is conceivable the comission would hold hearings Armstrong added but I doubt It I dont don't know now of ot any big demand for hear- hear Ings The commission Itself will make no ruling until the regional directors director have met and the SEC staff has finished its report on the proposed changes While White securities are arc under scrutiny I Iny ny by both the Securities and Exchange Exchange Exchange Ex Ex- Ex- Ex change commission and recently by congressional committees in Denver and Salt Lake City operators operators oper oper- continue their exploration programs The Denver reporting service this week revealed two potentially large new uranium deposits deposits de de- de posits uncovered in Wyoming and Colorado St. St Michaels Michael's College Foundation Foundation Foundation tion Inc Santa Fe N N. M. M outlined outlined outlined out out- lined a large ore body on properties properties prop prop- of Shawano Development a New York corporation six miles west of ot Daggs Baggs just above the Colorado Colorado Colorado Colo Colo- rado border in Carbon county Wyo Only 15 miles west of ot Denver Farmington Funding of ot Colorado Springs found thick uranium bearIng bearIng bearing bear bear- Ing veins of pitchblende in the Ralston creek area Further drilling drilling drilling drill drill- ing is planned to determine the I extent of these new pitchblende I deposits On the Colorado plateau Continental Con Uranium of ot Chicago blocked clocked out large new ore reserves at two operating mines near La LaSal LaSal LaSal Sal Utah Other companies in the area and the Atomic Energy commission com com- commission mission are beginning continuing and completing exploratory drilling drill drill- ing ng projects to search for new uranium uranium uran uran- ium lum beds Off the plateau the Denver publication publication pub pub- reported commercial shipments shipments ship ship- ments of are being made from rom a new mine in Wyoming's Powder River basin In New MexIco Mex Mex- leo Ico co feverish activity continues north of Grants McKinley county one of the most promising and most active of the nations nation's new uranium producing areas |