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Show Hi V 'in' g ""ifr $0 ilinwgniwi ! w Anaconda Seeks Beryl liiem Market By DOUG CHRISTENSEN Deseret News Busiress Writer I Vs'A ; An every day use for boiyl-!- u ? J v i there needed is going to be a bieakthrough in the market plate for the m if is beryllium Co. president, C. Parkinson, in Salt Lake Jay City for the firms opening of a nev geological laboratory and exploration facility, said the problem of purity in baryl-liuhas ben solved, now an alloy of beryllium and a market must be obtained. In Anaconda has ore holdings Juab County. Mr. Parkinson, a former Utahn, said the Utah deposits offer conventional mining for beryllium. Before this deposit was discovered most of the ore was mined in Africa and South America. Metallurgy work on the metal is being carried out in Bu'te, Mont., and Tucson, Ariz. Mr. Parkinson said that the public is mistaken about the role of substitutes in the metal market. Copper will always have a place In the mar- - A M: ns $ heads Anaconda ii "i J' I ynm 1 Jo I 4 r- Wednesday, June 5, 1968 logical research and its importance in providing mineral resources for the future at a luncheon today. are Mi. Perry, who was in Salt Lake City for 17 years, said that The easily found deposits in the western states have been intensively mined, many for almost a eentury. Essential to y the defense, welfare and of our country, immense new reserves must be found to both augment and replace the old ones." pros-perit- ket with the growing demands of society. Alloys of the metal are very important, he stressed, with other metals such as lead, and zinc, steel, aluminum copper all basic materials in todays construction demands. The copper company is also the largest producer of uranium and is seeking more deposits in the western states. Vincent D. Perry, vice president of the company, from New Yoik City, was also visit- - AWJ IH , d C. Jay Parkinson . . . 9 . some good mines to be found but geologists today need a sharper eye to see through the earth's covei , Mr. Perry said. Anaconda ww v ' mg the city and spoke on geo- There ore. w 4 The pickings are slimmer and it will take more and better geology to find the big m.nes, he said metal alongside aluminum, according to copper officials who are interested in Utah II wdWnwiawMgaay Anacondas new building in Salt Lake at 1819 W. North Temple, serves the company's geological department as headquarters for both western United States exploration and Salt Lake district exploration activities. It is also headquare ters for the company's Mining Research Department. coipo-rate-wid- BUSINESS TABLOID IT&T Drops Comsat Shares h NEW YORK (L'PI) International Telephone & C'orp. Tuesday announced plans to sell to the public a large portion of its stock holdings in Communications Satellite Corp. ITT said it is reducing its interest Comsat in view of its increased participation in ground stations used in international satellite communications. ITT said it will retain 500,000 Comsat shares and will still be the second largest Comsat stockholder, after American Telephone & Telegraph Co. Tele-grap- y 'Vsi '"r Salt Lake Stock Exchange officials post results of hectic week of trading. Mining Stock Speculators Current Exchange Worry Dollar Shores France The American dollar currently WASHINGTON (UPI) is the dominant underpinning for Fiance's sagging currency reserves, the International Monetary Fund reported Tuesday. The IMF conlimed an earlier announcement by the Banque dFrawe of a special drawing from the fund of i 'rrencies worth $745 million so it could continue to meet payments demands from other nations without putting additional strain on the already shaky fianc. By DON C. WOODWARD Deseret News Business Editor You could have made a Installment Credit Up for- tune on the Salt Lake Stock Exand that atchange this year Amei leans increased their Inmillion during April, down slightly from March because of a slowdown in new car sales, the Federal Reserve Board reported Tuesday. Although new auto credit was off during April, the board said credit for other types of consumer goods continued strong. A high level of repayments was maintained on all types of consumer debt, it WASHINGTON fAP) a number of years pointed out comes along io turn it off, then that the traditional interest in there will be no buying interest stocks listed on the exchange is at anywhere near these prices. such that they woudlnt be buy.ng at today's prices. CORNER The big money is coming titude is just what worries them the from East and West. down on Exchange Place where Coasts, he said. the scramble is on. Most of the interest is being, Through May of this year, the fed by the current gold crisis and Exchange traded more shares m silver prices of stock than it did in all of last rise added. V. E. Andeison, presAs an example of the activity, year, said Total installment credit at the end of April had reached Westident. MIDLAND, TEX., compare these prices of stocks consumer credit totaled $99 14 $78 35 billion while over-al- l 2 with those traded ern Oil Shale Corp. recently traded Jan. Ive had a lot of experience announced at its annual stockin this aiea, and Ive never Monday: holders meet'ng in Midland, quite seen such a speculative Bristol Silver has moved from Tex., that it now owns 76,453 fever as exists today, Mr. An- 15 cents to 40 cents asked; Bul- acres of oil shale leases in the derson said. The whole coun- lion Exploration from 11 cents Uintah Basin and is the largest try is caught up in this mining to 32 cents; Croff from 9 cents holder of State of Utah oil Beginning; Monday boom. I get calls from all over1 to 20 cents; East Utah from 55 shale leases. all Deseret News ofthe U S. cents to $3 00 ; Eureka Bullion Nash J. Dowdle, chairman, fices will be located from 9.5 cents to 33 cents ; stated that Project Bronco the Utah FRANCISCO SAN May, Through Exchange Great Western from 9 cents to in which the at 34 company is a parCo. had traded & 12,804,000 shares, Construction Mining South, and the tele35 cents; Mountain States from ticipant, is sponsored by . a announced today that the Mount compared with 12,467,892 in 12.5 cents to $120; Sundance group of oil companies invesphone number for the Goldsworthy Minmg Associates 1967. The dollar value in May the feasibility of an business and financial have concluded two additional alone was $2,566,897 on 2,596,725 from $1.75 to $13.75 and Utah tigating Consolidated from 20 cents to 40 atomic in situ shale oil reeditor will be of for contracts sales or nearly $1 a share shares delivery covery with the use of a 50 iron ore to Japanese steel mills, jn a marketplace that has long cents. kiloton explosive. The atomic 524-447in total a value with sales been known for its penny stocks, 0 Almost every stock on the ex- devices is planned to be detoexcess of $90 million. change has participated in the nated in early summer of The contracts will raise the Mr. Anderson and other advance. 1969. CER Geonuclear Corp. some officers of output of the mine under long-.er- s worried about, Many of the stocks still trade of Las Vegas, Nev., is operaterm contracts to approximate-- j the exchange, are in the penney range but their tor of Project Bronco. ly 4,200,000 tons annually by late the speculation, but they cant the in been order to have gains will end. tell it when 1969 quite 500 per cent or more. One thouin Western Located Australia, EASTMAN do know that when the sand dollars invested in Great the Mount Goldsworthy Mine is They some people are Western, for example, would bubble breaks, A. Oran Foote, 63, 1958 Garowned equally by Utah Conto get hurt. have brought in nearly $4,000 by field Ave., an employe of Co. going struction and Mining As one member of the board now. Mountain Fuel Supply Co. Cyprus Mines Corp. and ConsolNo one knows, of course, how with 40 idated Gold Fields Australia of governors of the exchange AND COMPANY years of sendee, has said, Theres just no value in a long the speculation will con- taken an early retirement Limited. of these stocks. Someobdy's tinue, but Mr. Anderson thinks from the company, effective Currently, the Mount Golds-llis Mine going to get it real badly no it will probably be for a long June 1, .""cording to W. R. worthy operating 7 RHONE doubt about it. time. under two principal long-ter(Bill) Hinds, industrial relasales contracts with Japanese' Another person who has been But as one broker put it, It tions director. lassociated with the trading for always blows over. If anything steel mills. stallment credit by $542 NEW LOCATION East First Oil Leases Announced - Ore Sales To Japan - Foote Retires HATCH INSURANCE, ot 359-773- Bartlett Honored mrnm. - iii A wf . ig ft Jtf&rr'ia liiih i J E- k Elmer Bartlett, a veteran of more than half a century of service to the food industry, will be honored at a special dinner Thursday sponsored by of executives a in the Utah food industry. Mr. Bartlett's honor will come at an open house in the , r m cross-sectio- a;-- Flip one simple lever... at any speed., feel that extra traction take hold1 That's Jeep 4 wheel drive. You've go; twee tne roads and hdls. This "grip" on rain-shc'Jeep' Wagonce' w th 4 .vieel dnve is the safest family wagon ou can drive. And you k n McK'nley Ward building, 18S3 S. West Temple, from 8 to 9:30 p.m. He recently retired from Associated Food Stores, and before that he worked for 46 years with Scowcroft Wholesale as a grocery buyer. 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