Show Wall Wail Streets Street's Warming Up to Uranium Newsman Finds Wall Street Is warming up toward toward toward to to- ward the uranium Industry a recent recent recent re- re cent New York Tim Times News Service Ser Ser- Service vice dispatch Indicates The dispatch by Jack R R. Ryan was written before President Eisenhower's announcement that pounds of U U would be made available for use by friendly friend friend- ly Iy nations and domestic Industry Pertinent paragraphs from the dispatch follow Dig Big conservative Wall Well Street Investment banking houses are arc beginning beginning be be- ginning to get Interested In uran uram ium lum This means that a lusty young Industry Is gradually entering en on an phase of Its historical cal development During the flamboyant penny stock boom of 55 1954 the old old- line Une Investment houses kept their hands strictly off oft uranium They would far rather miss a handsomely handsome handsome- ly y profitable deal than risk havIng having hav hav- ing their names even remotely linked with anything smacking of frenzied speculation The article then traces recent developments tending to show that uranium mining Is no longer predominantly predominantly pre pre- dominantly a term short small small- potatoes operation These developments Ryan says established that a big company with money to spend could legit legit- I Iely ely venture larger funds for exploration ex and development with Its eyes on larger rewards A growing Interest on the part of the big Investment houses has emerged Ryan says Even now the conservative bankers are skittish skittish skittish skit skit- tish about being Identified In connection connection con con- with their search for promising promising prom prom- ising uranium Investments but they comment freely If assured of anonymity Said one banker according to Ryan A year ago if you'd come comeIn comein in here and suggested we finance uranium venture you'd have been thrown out But now well now well wed we'd listen to what you had to offer Weve We've listened to a lot of uranium people lately Said another We know big companies particularly oil and chemical concerns who are arc Interested In getting Into uranium Were We're on the lookout for fot a good solid long range long range proposition and sooner or later it will come along along and well we'll be happy to negotiate a n deal i Any sizable participation by bythe bythe bythe the big name big name Investment banking Interests Is expected to have a salutary effect on the uranium effect on the uranium business Itself Ryan concludes The struggling uranium mining mining min ing company with sound prospects would probably have better access to big resources not only of ot money but also of technical skill and trained financial management Also with a widely known and respected long banking house honse connection It probably would find it easier to persuade large and ex experienced per mining companies to I join loin In the project The b ban a n k e r s' s participation would likewise be of great reassurance re re- I assurance to the investment pub pubIc Ie Ic |