OCR Text |
Show PAGE TWO HIE BINGHAM BULLETIN, BINGHAM CANYON, UTAH " - ,.. FRIDAY, MAY 16, 1958 They later went to the Villa Nheater. Mrs. Manuel Torres and child-ren, Jdhrany; Margie, Danny, and Raymond of Herriman visited Wednesday .with Mrs. Tony Ja-terka. Dinner guests Sunday of Mr. and Mrs. M. J. "Scotty" Robert-son and son Kevin were Mrs. Manila Anderson of IMidivale and Mr. and Mrs. Malcolm Robertson of Bin&ibam. COPPERFIELD I Judy Ivie Plhone 206 Mrs. Manuel Torres and child-ren, Johnny, Margie, and Danny, and Mrs. Jasper Gibson and chil dren, Linda and Don, al of Her-riman vitsited with Mrs. Tony Jaterka Wednesday of last week. Mr. and Mrs. M. J. "Scotty" Robertson and son, Kevin, and Mrs. Tony Jaterka visited Tues-day evening in Midvale with Mrs. Manila Anderson. Mrs. Agnes Ivie visited with her mother, Mrs. L. E. Barneft of Salt Lake City Monday. Last Saturday, Carol Ogawa, Leslie Ivie, Gary Kubota and Steven Archuleta, safety patrol officers at Copperffield school, attended a party for safety pa-trol officers at the City and Coun ty building in Salt Lake City. There they were served free hot dogs, soda pop and ice cream. Glljje Hmgljam SttlUtitt Issued Erery Friday ai Bingham Canyon, Salt Lake Counly, Uiah. Entered as Second Class Mailer at the Post Office at Bingham Canyon, Ulah, Under the Act of March 3, 1879. 'S' N A T I 0 N A L EDITORIAL lllilkmmmmiia JOHN ADAMKK, Editor and Publisher GLADYS L. APAMEK, Assistant Editor Subscription Rate, per year in advance $2.50 Advertising Rates Furnished on Application 500,000. This includes acquiisjlion of tlhe GarJicId smellter but does not dnolude Whe mo'dufk&tiion of 4hcit plant or tihe Cuter reSinery expansion. Conclusion In conclusion, tihe volume of our foreign business continues to be igcod tout dcimestii-- ealles re-main at a su'b-rja:tm- al level The second: quarter so far Itoas sfhowin. no dim'provemer.'t. Our domestic business is divided almoUt equal-ly Ibetweetn wire miils and1 'brass mills. White there are signs that the Ibusinesa df wire mills lis (picking u'p, ca a revjft df increas-ed orders from ttti'Oty oomipanies, the same situation is not itrue in regard to tlhe Ibraa mills, it is reasonefcfe to expect increased 'business tfrcim btuildirog construction, which is an (impor-tant pa i (t of tlhe market. o development erf lew grade por-phyry properties. Thria required a large amount txf capital for mine development and railroad and mid construction. Custom smelters were already in opera-tion serving the numerous small mines then in existence. Most of the fabricating was done in the East and there was ample re-fining capacity available along the Eastern seaboard for tlhe re-fining requirements of 'the tome. Thus, it twas unnecessary and econorniicailly undesiralble for Kenmecott's predecessors to pro-vide their own smelting and re-fining capacity. However, this situation was altered toy the following: (1) Kemnecott's copper production 'increased' (beyond1 the capacity of the smelters, 2) a Western move ment of fabricating (plants and a need lor more electrolytic cop-per developed, (3) the economic benefit cif eliminating smelting and retoinjg fees increased, and (4) greater operational control over the entire sequence of cop-per production (became increas-ingly important. The company, therefore, de-ckled to take one of the mos t important steps in its IhLitory, viz., the integration of its copper producing facilities. In tlhe an-- nual report mention was made . of tlhe construction of the new smelter at the (Ray Mines Divis-ion, due to ibe completed this summer, and ithe construction of the new Eastern refinery in Maryland, scheduled' for comple-tion next year. We lhave just signed a contract for (the poircihase of the Garfield Smelter df 'American Smelting and Refining Company, which smelts the product of Kenne-cott'- s Utalh Copper (Division and is 'located adjacent to the Divis-ion's millla and refinery. This acquisition, and the completion of the new (Ray smelter and Eastern refinery, will mean tha Kennecott will be doing all of its own smelting and most cf its own refining. 'When the present amended refining contract with ASARCO expires in 1965, we plan to construct the necessary additional refining capacity to make the company ilOO per cent inteigrated. The entire integration pro-gram is estimated to cost $111,-000,00- 0. Of this amount $19,000,-00- 0 (has 'been spent ithus far and $57,000,000 is presently commit-ted (for expenditure during 1958 and 1959. The remaining esti-mated $35,000',00 is for modifi-cation of the Garfield smelter in order to adapt it to our require-ments and for later refinery ex-pansion. Expenditures for these last two parts of the program wiH be spread over the 1959-196- 5 iperiod. Other Commitments Commitments for projects oth-er than the integration program amount to $95,500,000 as of March 31, 1958. Principal items include the Ray expansion program, ad-ditions to the Utah and Ohino power plants, and 'investment in Allied Kennecott Titanium Corp. Total Mmimiitments as of Mar. 3d, including integration program commitments, amount to $152,- - . o STATEMENT BY KENNECOTT PRESIDENT GIVEN TO STOCKHOLDERS Following is the text of a state-ment by C. R. Cox, president of Kennecott Copper Corporation to stockholders May 6: The annual report provides a detailed account of results tflor the year 1957. This morning I would like to bring you up-to-d-on developments occurring since the beginning of 1958. First Quarter Results Net income per share in the first quarter of this year was $1.08, as compared with $2.57 in the first quarter of 1957. The re-duction was the result of lower domestic copper sales, accom-panied by lower world prices. Copies of the consolidated state-ment of income for the first quar-ter will be available for distri-bution at close of meeting. Industry wide, the domestic consumption of copper is at the lowest level since 1954. In the Hirst quarter of 1958 deliveries to domestic fabricators averaged 94,000 tons a month, as compar-ed with 112,000 tons a month in the corresponding quarter of 1957. Foreign consumption, on the ether hand, continues to be good and the rate is 'increasing. In the first quarter of this year deliveries to foreign fabricators avera-e- d 143,000 tons a month, ad compared with 135,000 tons a month 'in the same quarter of the previous year. Kenneoo tit's total sales of cop-per in the first quarter averaged 39,300 tons a month, as compar-ed i. 48,300 tons a month in the first quarter of 1957. The bright spot .is European demand for our Chilean copper, and we have sold our entire scheduled production for 1958. As a result of this, and the reduced demand in the United' States, the volume of our foreign sales in the first quarter df 1958 increased to 46 per cent of total sales, whereas in the first quarter of 1957 it was 39 per cent. The U. S. producer's price tfbr copper in the first quarter of this year averaged 25.3 cents a pound, as compared with 33.7 cents in the first quarter of 1957. The price on the London Metal Exchange, at which we sell our Ghilen copper, averaged 21.2 cents in the first quarter of this year, and 31.3 cents 'in the first quarter of 1957. Recently the London price has advanced from a low of 20.2 cents to 22.6 cents. Curtailment of Domestic Production In order to bring our domestic production in balance with de-mand we have reduced the rate of operations at our U. S. mines, which presently wi'll be operat-ing at approximately 67 per cent of the 1957 rate. Integration Program In the 1957 annual report we referred to our integration pro-gram. The predecessor companies of Kennecott were pioneers in the LAFF OF THE WEEK - - - itij rYiViH'j;.Y ' iY.y-- "Is there a carrot-toppe- big-nose-d new daddy In here with beady little rinse-se- t eves?" LARK NEWS Pat Dalley Phone 901J1 Lark Ward hi". J a ur.d dinner in the ward rcert --".:.!. . 1 hall Monday r.Cit. It .was ur.ier he direction of Walt A1 ';..n:,V and choir members. Mr. and Mis. Zzie- D union! and flamMy el Midvale were over TUg'ht flues ts at the 'home of Mr. and Mrs. Leonard L. Mx'.er Sat-urday. Mr. and Mrs. Everett A'.'jv n and son, Danny, vvatcd Monday afternoon witih Mr. ami Mrs. Keitih Webb and family of iBluiff- - Dinner quests Sunday of Mr. a:.d Mis. Lamar Peterson and c',u;gl.ler, Julie Ann, were Mr. and Mts. Wayne Jlamimiomd and cu fighter and Mr. and Mrs. Roger Kf l'nn and daughter of Magna. Lark Ward MIA Mia Maid's and Mia Joys held their rose tying ceremony U the Laik warehouse Tuesday nOg'rJt. Everyone in tine jcCc-.- j paiticjputed on Mie pi z'gvutn w :h included a vocal duet by Colleen Keel and Virginia Nei'l-s- n, vocal by Snellen Ras- - tr.uj'sen, SwO by Polly Ab-- ! r. 'am lp, tiarinet solo by 'Marilyn Ho'lladay, organ solo by Snnja Reed and talks 'given by Lor-raine Ro':','trun, Mai cine Ediwards, Lucy Jane Lovcll and Joyce Pe-teiso- n, follow inj which eah girl gave a sJ'.iort talk on what the symbol cf the rose meant to her. Re;rc.ib:iionts were enjoyed by the girls aivi their parcr.'.s ifter the program. 'Parents at-tending were Mrs. Tharcn Holla-c'':- y, Janus Reed, Mrs. Maurice Edwards, Bi.ih;.p and Mrs. 'Floyd Rasniussen, Msr. G'.en Peterson, Mrs. Jessie Neilsen, (Mr. and Mrs. Sid Arnold, Mrs. LaVon Crump, 'Mrs. Elaine Ro-binson, Mrs. Earl Biglcr, Kenton Reed, Mis. Fern Peterson and Mrs. Thomas Walker. Mr. and Mrs. Leonard 'Miller viyited wi'Jh Mrs. Agnes Miller of Mid'v"ale Sunday. Mr. and Mrs. Zane Dumont and fanu'ly of Midvale, Mr. and Mrs Ned Miller and family of Gran-ger, and Mr. and Mrs. Leonard L. Miller w ere Mother's day din-ner guests of Mr. and 'Mrs. Joe Dumont. M. and Mrs. Rcbert Foist and daughte-rs-, Judy and Karen, vis-ited with Mr. and Mrs. Guy Becks '.rom of West Jordan Sun-day. Later they all enjoyed din-ner in Salt Lake City. Sunday visitors of Mr. and Mrs. Everett Allinson and sons, Danny and Billy, were Mr. and Mrs. Ronald Jchnson and sons, Robert, Ronald Duane, Randy and Richard, of Ophir. Mr. and Mrs. Louis Peterson visited with Mr. and Mrs. Dick Sorenson and Mrs. Uettia Peter-son Sunday. Mr. and (Mrs. Ray Peterson and family moved to Draper last week. j Mother's day dinner guests of 'Mr. and Mrs. Earl Bigler were Mrs. Frank Hicken, Miss Martha Jane Murdock and Mrs. Ethel Murdoek, ail of Heber, Mrs. .Mar-tha Newell of Sandy, and .Mr. and 'Mrs. R. V. Peterson and Children, Rcbyn end Kent, of Midvale. Lark Primary Seagull girls will hold their graduation this Sunday night at the 'Lark ward-hcus- e at 6:30 p.m. SAM has been lending a UNCLE hand to many parts of the world for some time now with, of course, the average American helping to foot the bill. Now the world is beginning to share even greater benetits in the form of American dollars being ipent in a big travel boom. Expenditures by Americans on foreign travel are fast becoming a significant economic force on the international scene. How big is this flow of dollars? Figures compiled by the U.S. Department of Com-merce estimate that foreign travel by Americans Is on the verge of becoming a $2 billion dollar busi-ness. Expenditures in 1957 were over $1.9 billions and a further rise is expected this year despite un-settled economic conditions. By contrast, expenditures by Americans for foreign travel were little more than a billion dollars as recently as 1!)50, or About half the current annual to-- , Ul. Foreign travel Is one of the American expenditures that has shown an exceptionally large ex-pansion over recent years, with the percentage rise substantially exceeding the growth In personal Income In the period. From the point of view of the international flow of funds and re-lationship to world trade, expendi-tures by Americans on foreign trav-el have been providing the world with more dollars than an single Item imported into this country Petroleum imports into the United States last year aggregated just over $lVi billions, for example, and coffee, the No. 2 import item, came close to $1.4 billions. As against this, expenditures by Americans outside the country in 1957 were almost $1.4 billions, and an additional quarter bill,on dollars were paid to foreign carriers for transportation, bringing the foreign share of American travel expendi-tures to more than $1.6 billions. U.S. shipping companies and air-lines benefited also, receiving over $300 millions in fares Canada and Mexico are the two leading beneficiaries of American expenditures abroad, their share of these outlays add-ing up to almost 40 per cent of the total. Expenditures by U.S. travelers in Canada amounted to $340 millions In 1957. and In Mex-ico to just under $300 millions. About a half billion dollars is spent in countries In Western Europe, with Italy, France and the United Kingdom in the lead. This country likewise benefits from expenditures by foreign visi-tors to these shores. Such spending in the United States, including fares paid by foreigners to United States carriers, came to almost $800 millions in 1956. a larger amount than this country received in that year from such major ex-ports as cotton or electrical ma-chinery and apparatus P-T- A SCHOLARSHIP GIVEN LOCAL WINNER In an eTifort to help relieve the .great shortage of teachers, par-ticularly in the etamenitary school level, the Ut3h Congress of Par-ents and' Teachers sponsors each year a scholarship program. For the :chool year 1953-5- scverty $100.00 SvCJolai'iV: were 'grant-ed by the state P.T.A. S.iholur-Elhei- p committee. The funds used 'in spcroaiorg this (program were ccn'.ributci by the lcoa'1 .unit PTA organiza-tions 'throughout .the isuJte. Hie schcOirtf:i''p fcceijiccn is de ujr.'.d to encourage cu'tsjari'a'iirjj yourrj pccple to prepare for the teach-ing profession. In o.der to re-main eligible for a possible con-tinuation of tth'? schoCiarshiiip, a seholar'ih'ip hodder musit main-tain a good sdholastic standard while in college and must agree to teac'hi in the state of Utah upon receiving certification. "May our local PTA organiza-tions continue (to contribute mon-ey to the schoLanfeiip fund that Utah might recruit, retain, and maintain good public schools through good teaching, is our aim and the purpose of the scholar-ship fund", said Herald L. Carfl-sto- n, chairman of the scholarship committee for the state PTA. Receiver of scholarship certifi-cate from Bingham High School was Janeal Baiben, of West Jor-dan. O Phone Your News Items to 91 THE SMOOTHER BOURBON Kentucky Straight Bourbon Whiskey S Yit. 0M 86 Proof QAncieat Ag DisL Co., Fiankfort, K.; THE MILDER BOURBON Kentucky Straight Bourbon Mmijkty ( Vrt. 0M 86 Proof . Ancrtnt A(i Out. C.. Frankfort. Kf. SEE US FOR FINE COMMERCIAL PRINTING LETTERHEADS ENVELOPES INVITATIONS WEDDING ANNOUNCEMENTS BUSINESS CARDS STATEMENTS PROGRAMS WINDOW CARDS BOOKLETS TICKETS HANDBILLS ALL TYPES BUSINESS FORMS AND MANY OTHERS TOP QUALITY LOW PRICES FAST DEPENDABLE SERVICE OUTl SPECIALTY THE BINGHAM BULLETIN TELEPHONE 91 no need to get up : ji'i' v. - A hondy bedroom telephone laves steps, costs only pennies a day. Easy to order. Just call our business office. modern homes have handy phones in C&hx Movnlain Slaltt Ttcpfiont WE'LL SEE YOU AT THE BINGHAM CLUB BEER ON TAP LOCAL AND EASTERN BOTTLED BEER Sam Ferae, Prop. BsmnmmmBmmBmmmmsmaBBmmaammmwmmmmmmmmmm AMERICANA Cities To Se Atlanfa-Ga- te City of the South mi aiim m. imm. u.ii ngi in ii iiii i(. l .i n iijihiu in mini u m1 V - r c -- .. -'- ,.,.. " V ' ' ; ... . ".. AERIAL VIEW Atlanta, Ga. Atlanta capital of the State of Georgia is one of America's newer, and greater cities. Often called the "Gate City of the South," Atlanta was originally de-veloped as a transportation center. Today it is a city of great contrast, boasting diversified commercial activity on one hand, beautiful homes, churches, diversified recreation facilities and gracious living on the other. Atlanta's brief history is drama-packe- Founded in 1837, when a railroad surveyor drove a stake in-to the ground near what is now known as Five Points (the center of the financial district), it was the turn around point of the state's first railroad and the small town that grew there was called Termi-nus. Later the name was changed to Marthasville. In 1847. it was in-corporated as the city of Atlanta, and in 1868, it was made the state capital. The city had a big part in the Civil War, much of which was drama-tized in the book, "Gone With the Wind." It was a bustling town of 10,000 when the war began, a stra-tegic point desired by both armies. By 1864, year of the battle and iege of Atlanta, the city was a fo-cal point of the war. Burned to the Iround by Sherman just before his marcb to the lea, the city was rap idly rebuilt when the war ended. Today, with a population of over 500,000, Atlanta ranks twenty-secon- d among the cities of the United States. The city's 1,690 factories, a quarter of them postwar devel-opments, produce 3,300 different commodities. The city tells more than $400,000,000 worth of its own manufactured goods each year, pours from its warehouses to all parts of the Southeast every type of manufactured goods from soap to automobiles. Things to see in Atlanta include the "Cyclorama," a striking pic-ture of the Battle of Atlanta, meas-uring 400 feet around, 50 feet high, and weighing 18,000 pounds. Stone Mountain, 16 miles east, is said to be the largest body of exposed granite in the world. Another fa-vored tourist site is the Robert Burns cottage, a copy of the Scot-tish poet's home. I s'0 BY HEIEH HALE ELIMINATE fussy basting of appliques on dresses by set-ting them in place with cellophane tape. This will work on all materi-als except cutpile types where loosely woven threads might pull out when you remove tape. If pastry boards tend to slide on a smooth table surface, place a wet dishcloth or towel underneath them. A large electric roaster will take care of baking a ham and a pan of baked beans. After baking, turn the unit down low to keep the THIS WEEK'S RECIPE Chocolate Delights (Makes 42 cookies) 1 pound sweet milk chocolate 2 squares unsweetened choco-late 1 cup chopped pecans 1 cup raisins Vt teaspoon salt 5 cups corn flakes Melt all chocolate over warm water. Combine nuts, raisins, salt and cornflakes in large bowl. Pour melted chocolate over all. Drop by rounded on waxed paper and chill until firm, about an hour. foods warm until serving time. Tedious hand-blockin- g of doilies can be eliminated if you dunk them in a thick starch and stretch them out on a smooth surface like a table or mirror. If you can't keep keys where they belong, hang a handled bread board in the kitchen with enough cup hooks on it to take care of all the keys in the home. Houseplants in pots often get moldy around the rim of the pot as a result of various chemicals. Remove plant and soil from the pot and line the pot with foil, then repot with fresh soil. Before applying paint to calci-mine- d walls, make certain they are washed off thoroughly with a brush and a solution of salsoda and water or the new paint will flake and peel. |