Show Brokerage Firm Sites Growth of I Homestake I in Uranium Field I Inventors concerned about the trend of the U. U S. S economy might consider the defensive de characteristics of Homestake Min Mining ing Company it is pointed out in a field report given out March 15 by the research department of Harris Upham Co nationwide nationwide nationwide nation nation- wide investment brokerage firm firmand firmand and members of the New York Stock Exchange Gold miners according to the report do not thrive during Inflationary periods when wage and material costs increase while gold prices remain fixed A period perIod period per per- iod of deflation might relieve some of this squeeze The Harris Upham Co field report noted however that a agold agold agold gold price increase is considered by most monetary students as range long-range only an emergency measure for serious economic de de- de Homestake's growing interest in uranium the report finds could be bl a 11 substantial contributor to earnings by mid 1961 The La Sal Saland Saland Saland and Little Beaver Deaver Mine near Moab Utah were brought into profitable operation In 1955 During 1956 slightly more than in dividends was derived from these operations by Homestake equivalent equivalent lent to something above 10 cents a share I The Harris Upham Co report report re reo port points out that Homestake has about in Government Government Government Govern Govern- ment securities which can be used to finance its uranium projects pro and would have no difficulty difficulty culty in arranging term long financing fin fin- from Institutional sources If f this method were to be used The report points out that US US U S. S monetary authorities are adamant adamant ada ada- mant against any upward I tort ton of their gold buying price of an ounce A higher gold price is c considered inflation inflationary y and md such a change appears unlikely un un- likely during an inflationary per per- od lod Purchase of Homestake as a hedge on economic changes of magnitude should therefore be e a range long-range consideration |