Show m i f i I The Salt Lake Tribune Sunday July 10 1035 " 18 B “ and 120009 : are planned Other baildera art in vtted te Join in erection ol three bedroom brick home $M09 DOWJONES TICKER Week’s Auto Output Drops Maintains Lead Over ’54 Price Policies Hurt Gold Mines in US ’ Loading Stocks - IASED UPON DOWONES AVERAGE OF MIIADMG NDUSTRIAl STOCKS OH THE MEW YORK STOCK EXCHANGE LAST wUlcV PART fow&t A 4500 home subdivision valued at 50 million dollars is projected at the "Alta Bench” area near Sandy Salt Lake County it was announced Saturday Developers are Magna Investment and Development Co and Kenneth L White Associates It is the single largest residential housing project outlined in Utah history Principals In the program began optloninr the 1200-- Service s DETROIT— ut v Ups Steel Prices Mi Jm4M IHS-4- Mil IH4— division of Ford Motor Co was various grades of pig iron $2 30 shut down for model change-©vfrr- s per gross ton and Pittsburgh Coke and Chemical Co also The week’s truck production says pig iron is going up same was 22810 compared with 26- - rate as US Steel f NEW YORK— Loans to business by leading New York City banks fell 126 million dollars In the week ended July 6 the steepest drop In more than a year A 39 million dollar decrease In borrowings of sales finance companies was the biggest factor Loans to brokers went up 3? decline million dollars after a four-wee-k - $50 Million di- on JNDIANAPOLIS-AUis- Mr Anderson currently Is operating manager of Rexall Drug Co Job vision of General Motors has been awarded a 80 million dollar Air Force contract for proairduction of T56 turbo-prop- " craft engines JThe contract calls for production of the T56 order to be-gin April 1936 continuing with higher schedules through Mileage Rises 18 THOSE CONDITIONS prelude profitable production except for a handful of mines in the United States In some respects our domestic gold mining industry appears to be “forgotten" This forgetfulness applies to both the producers and a return to convertibility of gold and the right to possess it Since Canada has done something to assist its gold mining Industry with a premium on production it Is of interest to note how the industry is getting along in that country This is made possible through a report of the Committee of Enquiry of the Gold Mining Industry of Ontario Labor In Ontario is tho largeot item accounting for about 66 per cent of total DALLAS— Branlff Airways Inc showed an 18 per cent coot gain in total revenue passengers and passenger miles in Wages have risen 38 per cent May over the same month last from 1945 to 1932 and the net “saldT bflciall Saturday' cost year per ton 32 per cent The i 1BTlatter figure was made 'possible only by the effect of technological Improvements CHIEF PEORIA ILL — Ownership and better mining methods of the Toledo Peoria and West- which have increased producern Railroad a key link in tivity per man-shi(Ward to at the rate transcontinental freight routes of two per cent per year jFqnnerJManager will be shared equally by the the ability 1 CHICAGO — Montgomery Atchison Topeka and Santa Fe of the Canadian gold mining Industry to raise wages will Ward has re hi red another of and Pennsylvania Railroad The agreement still to be have to depend on an former vice presidents to improbJs one of Us divisions approved by Interstate Com- able rise in the price of gold was an- discovery of new and Chester W Anderson who merce Commission very rich G Fred nounced Gurley deposits or further substantial by Resigned as vice president of Santa Fe and e innovations Comfnd mail order manager in president of M James Symes president mail 1953 will again become menting on the Ontario situation the report says: order manager on Ang 1 the Pennsylvania AS TOE GAP between the fcM fixed price sn9 rising production costs narrows gold mines t have been discouraged or prelf retail its auto said Motors DETROIT— General Corp vented from normal explora133607 new the from to units rose of 10 June In the last days tion activities to increase or of June 86142 in the second period Sales also topped the 120278 news cars sold in the final even to maintain their ore redays of May and the 103381 In the last 10 days of June 1954 The serves Thus unable to keep up gave no exact their daily milling rate many company said Chevrolet sales were highest but x mines have reduced the tonfigures nage put through which obviously has a tendency to increase unit costs who havo faith in tho Similarly as costs rise there dynamic atomic industry has been a tendency to mine higher grade ore By increasing who lava to spoculata the grade aubstantial tonnages of near-grad- e ore may be who con afford tho risk dropped which mey be permanently lost from the ore reserves We Recommend A Special Situation A actions spiral effect ! thus started with further Possibilities Latent With Exciting curtailment In the production NOW SELLING AT LESS THAN rate higher overhead costs OF ITS 1955 HIGH 50 exclusion of still more ore and ao or until a marginal producer la forced to clooe “Despite federal assistance higher costs have recently JO Approximate Mark at brought about an increase In grade ao that effect has al11000 acre af pramUitf land la White GOOD ready started There is a defarea Canyon inite limitation to the stopDLANof upgrading Thus furgap Proyen art (tana OR- Ether substantial raising of costs or net lowering of the price of lend being developed and mined by ana al America's old! toundatl me MANAGEMEN- Tgold would have a disastrous capabta mining companies effect on the industry and Us communities" It wat anneunced at rat ant stockholders fi Share Ownership jfuic i Re-empl- off-setti- oy ft The-report-sa- ys cost-pric- Says Late ' June Car Sales Up 10-da- y -- FOR YOU FOR YOU FOR YOU e ULA URANIUM OIL AND GAS KICKER— INC maating that royahiat ara aaw baing received an 5 producing walla Contact Us For Mora Complsto Dotolls -- POTTER INVESTMENT CO ' Uranium Stock Brokort SALT LA XI CITY SIX ATLAS SUIIDINO PHON1 93 MONTICCLIO OF7ICI— CAMpULl SLDO TfLITYPf PH IIS UTAH SU 471 m-M- HISTORY ilt IIS 42141 MS4S 40JII 2711 IHJS 1950 1951 1952 1954 ITS 200 171 ran ited its production to three US Steel Corp announced crease in price It will hike the price for its days because of heat Lincoln NY Bank Busines Loans Off $126 Million lawman EXTREMI RANG! TOtEL First Break Appears in Copper Tieup As New Jersey Crews Get 16c Boost Ptmi NEW YORK July 9 — The first break in the copper wage dispute that has idled much of the Industry came late this week as American Metal Co Ltd signed an agreement with the Independent Union of Mine Mill A Smelter Workers By Associated including an average boost of lift cents The two biggest domestic prpducers — Kennecott Copper Corp and Phelps Dodge Corp —remained strikebound along with 12 copper and lead processing plants of American Smelting A Refining Co THE SHUTDOWNS have cut The agreement covered the off copper production that had recompany's big copper been running at a monthly rate at which Cateret NJ finery of tons about 60 per cent 58000 had not been closed of US mine production The settlement provided a In addition the closing of package of 16 cents an hour American Smelting’s lead re-- JACKPOT IN ‘NO-MAN- LAND’ ’S 14-0- Showdown Shapes Up on Coastal Oil US-Louisia- na BATON ROUGE LA July 9 siana- - Legislature proclaimed (INS)— The United States and the itate’s boundaries as lying the state of Louisiana are moving toward a million dollar h showdown next week in the submerged lands off the Louisiana coast in the Gulf of hard-presse- three leagues seaward from the coast line The question of who owns what was even further complicated by the fact that Louisiana Mexico defined its coast line as the official coast line used by the TOE IMMEDIATE stake in is 29 tracts of US Coast Guard for navigathe or 'some 27 or needs" land containihg some 73000 tional purposes ou mes sel THE DOMESTIC price reacres on which both the govTOE ISSUE lay smouldering mained- firm at 36 cents a ernment and the state are ofuntil last May 19 when Atty pound Scrap dealers raised the fering leases this Tuesday Gen Herbert Brownell Jr filed price of No 2 copper wire scrap The tracts lie in the land” — the twilight euit in the US Supreme Court by about a cent a pound to 35H ion— between three miles and asking that the government be cents Miiof faotals price: three leagues (103 miles) off- declared owner of all subCOPFB R—M cent pound delivered cent nominal New shore Both parties claim own- merged lands lying three miles Foreign York ership of these waters and both outward LIAD —IS cent a pound New York 14 SO centa St Louia Desame raw deal the a At time the are claiming ZINC— 1250 centa pound eat St partment of Interior announced IS centa New York Although the showdown that it would offer leases on Louia: ALUMINUM — 2320 cent a pound incota ihtpptnf point Pill 2150 centa battle is beinr waged over lands including the ANTIMONY — 3107 centa a pound these 29 tracts the jackpot submerged Ucm than carload lot) New 29 tracts in the twilight tone caaed centa carlota 28 90 York Bulk la far larger which Louisiana claims belongs producer's plant — cent a MANOANEM OKI The disputed xone which to the state India Iona ton unit (22 4 pound) CJ r U S porta duty extra On until recently was covered by The Louisiana Mineral Board ore Iona term contract from other aourcea a gentlemen's agreement for- announced the state too would centa nominal Forromanfancao— a net ton ahippinf point $100 covers same leastracts offer the for actually leasing bidding NICKIL — 0450 centa a pound elecOncathode Fort Col born nearly five million acres of ing— and on the same date trolytic tario V S duty included in12 lands containing FLATINUM — 704230 an ounce submerged July SILVtlt — 912 cents an ounce Now Both sides backed up their estimable oil reserves of natYork: T8T3 pence London intentions with announcements ural gas and other minerals TIN ’ — 953T centa a pound New The question of ownership of that they will seek legal action York a flaak (70 OUICKIILVM — New York the tidelands was- for all pur- against the other for leasing pound) TUNOITIlt ORS — a toa Unit poses apparently settled two the lands (20 pound) duty axtra years ago when President Dwight D Eisenhower signed into law a bill awarding coastal states right to all minerals in the offshore lands within their historic boundaries TOE BILL upheld the claims REPORT of Florida and Texas that their boundaries extend 103 miles into the Gulf of Mexico and awarded Louisiana and Califor nia dominion over submerged lands within three miles off the coasts xLast year however the Lout -- oil-ric- tug-of-w- “no-man’- a so-call- acre area three-year- s age in anticipation of home construction starting Saturday “Initial development will be s handled by Construction Co and the Kenneth L White Construction Co” an announcement by the firms said Both companies pioneered development of the Canyon Rim subdivision on the east bench has been active in building in the Cottonwood Meadows and Greenfield Village ear Salt Lake City and at the Oquirrh Hills subdivision at Magna Mr White will develop his part of Alta Bench as “White City” it was announced Cannon-Papanikola- Cannon-Papanikol- as “IT IS OUR belief that if the Salt Lake Valley is to encourage industry to come in and set up shop we must provide adequate housing and shopping facilities for the many thousands to be employed” ’Provision Is being made in the subdivision for sites for churches of various denominations Jordan School District already has a sizable tract within the Alta Bench area for development of school plants A large area has been reserved for a modern central shopping and periphery business center Construction of modern brick homes with attached carports or garage? is beginning near 7th East This will place residents within walking d ’stance of “new three-bedroo- Funds for the purchase were provided by the State Legislature in the treasurer’s appropriation for the new biennium Unlike other elective members of the executive branch the office of state treasurer formerly has never been provided with a automobile other than the marked “pool” cars available to all state departments state-owne- d feet ConThe struction Co will name streets in its share of the subdivision after old mines mining claims personalities and places of interest in the Alta mining diss ski trict — now a Cannon-Papanikol- as world-famou- resort Participants In Construction include John E Nick E and Gus E Papanikolas and E L Cannon Development of a nine-hol- e golf course in an area within the proposed subdivision not suitable to residential construction as being considered Cannon-Papanikol- WIEK'S SIM ON URANIUM STOCKS "Ortwins with Satisfies Clien- t- Stratford L Wendslbot A M S Main UC Rial OFFERING 15000000 SHARES PAR VALUE n Per Share OFFERING PRICE ONLY PRINCIPAL UNDERWRITER yI C Leonard & Associates ' 602 Tribune Building Dial 9-20- 93 Offerkif Circulars Also Available Free the Pellewlns Salt Lake i ion Irek erst MBS & COMPANY 25 East-2n- &nirh d - Phone J ARTHUR PETT & COMPANY GO Signed Board ol Directors A A - Uranium Company slock k highly appoar at a stockholder at rocord on tko your stock broker ailed transier and deliver at earliest possible data H Im- 345 South State JKANIUN TAR BABY MINING CO 621 Judge tldg Salt Lake City Utah Co TWX-SU-- 97 MONARCH URANIUM TMfclMIIBY COMCIIE (IRAKI 80 by 125 AVAILABLE 232-3- A n OFFERING GRCULARS 3275-37- 7 1 te Commission - 1' and modern shopping and education centers” in the region All homes will have basements It is contention of the builders that “home owners will be hub of all within a the Lusimss industries surrounding the area and only 20 minutes from downtown Salt Lake City and suburban Sugar House Main access roads including 13th East and 9th East lead into the subdivision while State Street is only three minutes away” they said TOE DEVELOPERS have obtained a certificate of convenience and necessity from the Utah Public Service Commission for the White City Water Corp which has obtained sufficient water for 2000 homes in drilling of one well Three additional wells are scheduled The erection of a 750000-gallotank serving the area has been completed and two more tanks are projected Lots will average between Bids on a 1953 automobile for State Treasurer Sid Lambourne were scheduled for opening on July 20 by the State Finance 80-0- 0 PROGRESS m State Calls Bids On New Auto 91-0- 3 AYYBOTD®a- you awn Comanche portant that your nam Company's books Haro all ol your stock to you fining plants have stopped shipments from this major factor in the lead trade The union also struck plants of Anaconda’s subsidiary the American Brass Co at Buffalo NY and Torrington Conn However Anaconda’s copper lead and zinc mines and plants in Montana have remained open Butte miners will meet Sunday to consider the company’s offer of 10 cents more an hour The union bas been asking 20 cents and fringe benefits The week-olstrikes have resulted in the loss of about tons of copper at a time when the supply situation already is tight The wire and cable section of the National Electrical Manufacturers Assn urged the government to allocate copper from ind its stockpiles to a In users wire to dustrial Commerce Secretary Sinclair Weeks the association said: "Widespread unemploy-men- t will result among fabricators and customers as inventories are low and operating suppliers can only furnish a small percentage of industry’s d TO THE STOCKHOLDERS of U IN ‘ALTA BENCH’ $50 Million Subdivision Work Begins £ niiimiiiimiinmimniT 282 the week earlier and 14439 By Observer Auto output in the like week last year It is now 21 years since the domestic price of newly mined dipped to 140356 units this week from 138402 last week-r-bgold was increased to $33 per ounce still was ahead of last year at this time says Ward's AutoMeanwhile all costs of DETROIT— Detroit Steel materials and services labor motive Reports have The agency blamed hot Corp announced price boosts risen to such an extent as to weather as a factor in the which it said "are in the line bring straight lode gold mining with increases by other indus- back to the economic conditions slump Chrysler tent workers home Thursday and Dodge lim- try producers" existing at the time of the inDow-Jone- 30 Averago Prico of 4500 DOMES ' Phone CROMER BROKERAGE COMPANY 39 Exchange Place' ' Phone VAN BLERKOM & COMPANY: 408 Beasclh Building Phone 75 |