Show y 1 i The Salt Lake Trihnne FrMar July 13 J955 UP AND DOWN THE STREET West Division Chief Named f' !'( Bv US Steel i r Homcstake 1955 Profits ‘ Charles YV I ee Ios AncolQi By Robert YV Bernick Thursday was named president Tnbune Business Editor of Consolidated YVestern Steel Division United States Steel & Coke Co Thursday Coal Independent net reported profits the for first Corp six months of 1955 ef $207714 W J O’Connor president said this compares with a loss Mr Lee who previously was $449 in a like 1954 period sice president and general manThe profits are after deductions for income ager succeeds Alden G lloach taxes Mr Roach is president of the Independent Coal & Coke recorded a net corporation's Columbia-Gcne£2 gSJjhloss of $7546 for the second quarter of this year Steel Diusion '" ®Sa’ngt a loss of !$32555 for a similar quarter THIS DIVISION’ is the priin 1954 Mr Connor said steel producing riiwMon of mary “ He said thxt in the past quarter we have v had very heavy repair expenses as all our equip- United Statrs Steel in the 11 ment must be overhauled for the winter's opera-tiont- (YYestern States and has underreMany of our machines needed replace- - gone marked expansion in cent with tears facilities major and we have recentlw"placed orders for 4 t at Genea Utah and Fittsburg Mr Bernick several units costing approximately $200000 and Torrance Calif "To obtain good costs we must operate without mechaniOrganizational changes ancal delays and first class machinery is required to accom- nounced Thursday will permit Mr Roach to spend full time plish this - X Dow-Jon- e House Committee Revises Sugar Law Service share llomestake's uranium operations which have been in a development phase for several years are contributing to earnTwo of the ing? this year three leases' on 1390 acres which the company holds in the Moab area of Utah on the Colorado Tlateau have been brought to production and ore from these now is producing income Some returns also still are coming in from Homestakes first uiamum discoveries in South Dakota Earnings from uranium operations are not expected to compare with those from a WWsi' a ki-men- C W Lee of Consolidated New president Western Mr Lee has been associated Net operating income for the first half of 1955 was $407396 estern since t ith Consolidated of the Columhia-GenevSimilar income for the second quarter was $47186 Steel Division said its organization in 1929 He is Retained earnings on Jan 1 1855 were $925326 These Clifford F Hood president of a graduate of University of earnings on June 30 were $1076426 gold Southern California yS Steel CURRENT ASSETS were listed at $1801857 on June SO while current liabilities were placed at $282070 Some $177015 Is still owed on a purchase contract for Clear Creek and other commercial coal mines formerly the property of Utah Fuel DOW JONES AVERAGES Sale la Division Kaiser Steel Corp Furnished bv J A Hofl A Co Member of the New York Moik Exchan Inventory of prepared coal at the mines amounted to $182-48on the June 30 audit date the future expanding Y a i Service Actual rata last week was Republican! said Thera would WASHINGTON—' The House 912 per cent and production seem to be sufficient evidenca' ap- 2202000 tons Agriculture Committee in tha Libby McNeill & Libby extension of proved a four-eaDow-Jo- SAN FRANCISCO — Figures on first half operations of llomestake Mining Co are understood to have approximated those of a year ago when the company reported earnings of $1803568 equal to 90 cents a Tof on HERE AND THERE IN BUSINESS Boosts U-O- re 0 Independent Coat Coke Lists $207714 Profits n r sugar quota legislation through 1960 but with major changes from present law in the way WASHINGTON — Senator! producers' should share any fu-- 1 ture increases in lT S consump- Brlcker and Wallace tion F Bennett called for The measure would guaran- a congressional Investigation tee U S sugar growers half of into the current proxy fight for any increase in U S demand control of Libby McNeill & starting next ear It would Libby starting with 1957 Increase the In a letter to Senator Herquota for most foreign coun- bert H Lehman ) chairtries other than Cuba much man of a Senate Banking submore sharply than under pres- committee that has been lookent law ing Into proxy fights the two Ask Libby Probe THuaSDAY-SIOOO ICLomi a (D-NY- firmation hearings In Federal Court on tha Mopac-Agrte- d System Reorganization Plan year ! Sale la 91000 Idoas) Ch THURSDAY'S QUOTATIONS General Petroleum Corp and a number of other major oil firms have launched a one million dollar experiment in secondary recovery of heavy crude oils at South Belridge Field Kern County Calif (in place) comRecovery will be accomplished by bustion and success there during the two or three years of the program will mean much to Utah petroleum engineers Sinclair Oil & Gas Co is conducting experiments on oil shale near De Beque Colo and application of the principle crudes in the might be of great importance to heavy of west Vernal at Uintah Basin and Asphalt Ridge u combustion sets up a wall of fire under ground which decreases viscosity of remaining oil permitting recovery by normal pumping operations in-sit- u in-sit- u wax-bas- e In-sit- m Anaconda Geologist Awarded Post in SL ACFlnd Admiral Air Red et AllghLStl AllladC AlUedStr AhaChai 14i 2JV 211 35 22' 98 29 11314 2 ‘8V ALCOA AmAlrl AmBrdP AmCan AmCyan AmMAE AmMot AmRASS AmSmelt AmStFda AmTAT AmTob Am Viera AmZlne Anacond ArmcoCt ArmcoCt FltrlCp FreStn FdMach FroeptS CalrR GonBk GnDynra CenElac GbnFda GanMtr 89W e GonRefe GanTAR 40 GaParPly 141 3314 -GUdden 814214 Goodrich Goodyr Grace WR CrayanR GNlrOr GtNorRy GtWSu 80414 2H Greyhnd CrumA BA1879e - AURef AUaaCn AvcoMf BaldLH BaltAO dopfd Ballilrn BeaunitM BendxAv BenFla -- Some 84 per cent of the recent Mountain Fuel Supply Co underwriting was subscribed to on a shareholder right basis GEIGER GOURTERS SCINTILLATORS HUD RATI MITIRf Mob liMAU Yeas Own Uranian i SALES RIFAMS-A- U Amti MAKES RADIO TV EKGCOERIHG 43D SOUTH STATI Kllinno 7S STOCKS Rapes m Meek Uranism Co and lM m44 i 8 ibh 3 294 14 94114 17! 941)4 271 281414 8 424 80) 40 4 1 12 ColGaa ComCrdlt ComSolv ComwEtf ConeCop I'nBAP MdntyrP 88 McKeaaR CoaaEdia CopaNtQ Contain ContBak ContCaa ContMnt 14 424 4 24 234 31 4441- - MerlttC! MlamtCp MumHny MtaaionC 71 Monaanto CartlaaW 72W DoeoaB Deere DlLeAW DonARQ DetEdia 28 18H NatRiso NatCRe 144 DlTMo? DaaStra DomeM 78 17! 37V4I4 is 18! mw)4 78T4 - m 44 8j 9244)4 NT r NatDlat NatGypna NatLoad Nats tool NatSup NehiCp NYAlrB NYCen NYCSTL NiasMP NortAW NoAmer NoPactl todt tele Thoraday -- - 4-- 14 - k 8 131 794W lv 8i44 4) 131 ! 41V 14V 4' 89 4' 2344 a144 821 47)4 14 24! 82)4 L 24' 34H- I9! 874 4 991 974 H 341 78 '4 1 I) 14 4 4 14 14 1 - '4 VnTarb M 87 UaPacU 9182 V lOt 93V 4 IV 4 1 faTank DnltAtre UnltAlrL VnltBisd 4 2941 27 44414 14 14 H 1nPkCH 21 271 43) 311k 24 lUIedae 2280 H) 1414 t'nitCp DaFratt DnGaeCp 19 B24k4 197 93V 4 10194 Bid 1 3 14 1301 08V Wheels WIsnACo W'lworth 28 23 80) 14! Wrthata YaleAT YcatnSk 21 (4 L aioia tovjURCiM ACRIAGE FOR SALE 17 92 owes wHb Hewino we! wots edueted ki Merrey City Itieits 12 mile eufh of He) Utah keC aae Weeks ef tinlee PecHn end Denver end I Grand eeileeode and 10 miles frem t I earns Plant Other vat Included uuble (4 H s f aofd M All Urmmlmm Pries $1006 per acre CoS er write luooa BROKERAGE CO CIlOMEn ” Suite Saif H lake Stock Reckon Rulldtne St Ixchanoo rtoao Salt Lake City Utek TWX SU 118 phono -- rm f-- DR TMOMA1 1 lOaiNlON 011 Seeth 11 Sot lake City felepkeae (ed tha Oat— Why Wc Recommend Investment 1 33 L39 2J06V 1J4" 29 138 1 1JI U4 38 90 33 90 120 00 17960 Soybaant— 337 Rapt Nev 312 Jan 2 14 Mar 217 JO 12 7ft 7ft J04 (Naw Sept V 128 Soybean) 2 30 122 224 2J7 2 v 51 29 SiotV 22 35 435 100 100 Protlmloory uofotlatloni worn held with Moydrf Umnlm th pfflcort of Red Mill Urunium C with rotpocf to n poeilkl murgur nf Mnydtry llrsnlunt Co Int Red Kill Urn-- el urn Cm Them eegetletlent hum keen templetely terminated by (It nMtnrt nf led Mill Umnlmn (V and them It nn yrosent Inten-Me-n tn merfe with Mnydny Urnuivni Cn Merjlef Red Hill Urnniuut Co Inf cny ntber eorynrutfon he never keen tkn yetlcy nr considered by Red Mitt Uranium Cn Red Mill Uranlum'Cn bni never ceetldered nny merger on horo for thora boil of trado onles tko merging corporation hod Hoik of ogool valuo lo Rod MilfMopyraidmotoly 43 on tko Ion frandmo Mining IxtknngoV Stock kelder In Rod Mill Uranium Co ora odvlsod to bowora of poislklo rumor with respect to tko operations of tko Rod t&l Uranium Cu Cenlue your (tmpuuy officer for ramploto oed O4urato inform often 1 Uon Vito M Frazltr frun of Red Hill Uranfum Cue Prevs Urab fThl advertisement donated to Red HU1 Uranium CoS of our still-you- ng community 81 xing fritnds Optn your account today and find why so many thousends ci tt phone 30' 2 2 21 2 51 Trust Company thon—a Savings Sank A Trust In Tha frlondly axptrlcnctd ssrvlco that makts our depositors and Trustors our frinds and KII?3 them cs Savings Bank Company diversification inaeaiet powibil-ititot worthwhile iovettmeat retula Trained ipedaliiu deroto full time to investment aupervuion ‘ Gmtinuttf of dividcod trengthened Share tic readily marketable Convenient to own (hare 133 U9U Co nfflclnli ky m— Nominal now-spoclali- Broad 031' 0i’ 264 1279 00 75 T9 90 July 128 8b —a Company Shares f savors chooso ( ZION'S SAVINGS BANK & TRUST COMPANY payment ' ui 0 obligation iff Edward L Burton & Co ‘ 1 ' f ? “I J DAVID O Ut LAY Established 1B99 160 South Main Salt Lab Gty Utah i 1 FUDLNT SOUTH TE!iTLE & ILLCl RSTLAL Dud up — I 200 12944 134V4 13 3790 14000 M It 383 20114 UTAH'S FIRST CHARTERED SAVINGS BANK 88 write Gaa couragt saving among th popl That samo ytor wo btcapio r 4k 991 '4 IV 4 124 924 u 4 8244- 14044:4 14 894470333 ttof in May 923 00 23 014 3 0JM 2 04 Almost 82 ytan ago Ocfobtr 1 1873 w optnd for buslntst to fill th dtmand for a Savings Bank A Trust Company and to cn SX PRODUCE hr lees doxenfc Grade AA 47ci A larg 49e: median 42ci'B large Me 'Cheese: Mild loaf 38c: mild long horn 29cl mild triplet 27c Button 93 cor Mq 93 score Me: i M eeore 82c 7 00 21 or 3 004 2 08V SPEAKING'OFiPIOMGGBS! 1944 22V 4 44 44V 14 11 01 344 14 284 U WtnEL Wheat— SS01 Rept 2 064 Dec Mar 2 04 2004 May Com— 1J44 Rept 128 Dec 132 Mar 4 4k l 1 119 179 July St fUP)— Grain mm ' Clues Utah Low Open 700 Oc-tob- 8) 481 WatAliT WeeiPpa WeatUe WatAirB 89 29 90 29 00 27 00 (San Francisco Mining Kxdiangt) Certificated wool poo 194 9n Wool tope future closed 4 ef a seat t 19 rent lower July 1894b 1877b December 1879b: March 1M lb: Jaly 1834b: October 181 8b Certificated spot wool toy IMOa b— -- 23 424k Wlgreea Wlerrth WamBr GRAIN FUTURE3 CHICAGO )4 3 28) 4444 4 DtahPAL Vanadlu Refinlnf 99-10-9 eiiuimaci - May 1302b: 1 Barley namlnalt KallUtd chided L29 d 1904 729 239 11 00 72 07 03 V a 73 00 S 75 0 00' 23 39 July 3 OOVk-- 3 2 0714 1 STATEMENT OF POLICY YORK July 21 (API Wool fwa future wera loweg Thttrsday on tight liquidation while wool futures wars Irregular Wool futures elottd 7 f a cont lower te 1 ef a cent higher II Sb: October 1347b: December 123July Jb: 614 4 1 2944 )4 4k 23 734 4 2’4 B4 484 IV dnpf 2930000 ehareai 189! Eats (price n WOOL BIARKET R 3H USA FI 14 USGpam 13 41H 140) 33 (4 44 23’ 624414 14 NewnatSI 3 2284414 t'A 81 14 121 4114 NatIVelry 4 i OU Utah Southern Otl Ute Royalty Seneca Otl Pae Northwest Pipeline MEW 1 Gaa A Oil Rttwr&ij States Nat ta Great Weston Mot at S Mountain States LOM at So Nav-Ta- h 1J00 at 2M and LOOO at Me Fraepsr 1000 at Sc Tin tie Contra) 1000 at vtn 14 22 9244 44 I’SRubbf 35 I'ftSmelt 8 264 4 4 LSbteet 84 41 a dopf NatAria 4 241 DoofAe DoCbem Draaerln DuPont DuoLt r Eaat ArL Eaatmn Eatmnpf a) MootWrg Motorola Murray CnUer-- 4 40 V4 13138 MotatPw 10 14 44 4 m 8N4U 41 aewi 4 MlnnPL CadahrP IVi 24 80V4r MinnMM" ContOU V Warn 2a 94 14 low 3V-- - 70 4 00 )R Jualhetm Petroleum North LUy 260 at 108 North Std 1000 st SHc Pk City Con 1000 Ue L000 st 23c: SJOO at 22c Prosper 1000 at Scl 2000 at Bci LOOO at 8c Tla Cant 1404 at WlUlston 2000 at lie UR8 SALII Con Eurtks100 at SUL 4144 19 7314 22 1144 18 484 10 3144 18 87414 tmoucal' 4 4 Axhley VaUty Faulty Oil Enaliah Oil YankCea Same R 89 274 4 18 30 - eteadjn 11 (AP — Wbrntt H 0U4: No 2 SOI: No 2 No 1 yellow hard AM hard No I mixed S03H Corn: Ne 2 yelN 1 48 2 14T Oats: Ho 1 heavy low mixed 03m No I heavy whit No 1 extra heavy whit UVS-M- t No I extra heavy mixed (lV Psealt oUt Soybean Soybean red 1 OH WUltaton SO Ce tew CASH GRAIN CHICAGO sa73 1 80 7 00 00-3- 80 tt iothCenl haLfer t amp eental 10 39 4 00 Continental Bank 122100 First Security Cerp 30 00 Find National 110 Utah Savin 00 39 00 Valley Rtate Valley NaU ( Phoenix 32 00 Walker Bank U00 Zion’ Savins 108 00 WeatToI Wilbert PkPremlor SwtftACe RytvDPg TanaCp TesaaCo TaaGlfE TeaGlfSa TcxUtil Thermd ThompPr TtdWAO TtmkRB Traaaem TranaWA U 90 94 00 Asked 3190 lank Itacki w Alleyn Plutalir 1J0 at 12a Craft 2000 at 33c: 9Q0 at 22a Elat std 900 at Slcj 9JD00 at lit) LOOO at 21a Cr West 1 J00 at Rc' Lake 1A4 at 10a Leon 1JO0 at 9c Nev-Ta- h COM at 29el 2J00 at tie 9100 118 29 CatUe— Iteere 93300 on stoorn a VlctorCoa rkNalsea Sunahntf A My 87 79 19 dopfd OtlReeAUr Park Bind PkCltrCoa PkKonold Cr Eg Ofl most liort—Gained Home Aecept Carp de pfd Uni ted Pk Utah-Co- Nawfark NawQey Norths tg RunrayO UonOU Lckhoog Loew LwSCm Lorillard LouANah MrkTrka Mary MamaCp Msnavo Martin G CornPrd CraneCo Crow nZ 11 Ordar Oats— firm with ewm Soy beano— Firm SepWmbe ZCMI 7Yeaa-l- f NeTah Stude-P- a Lehman LOFGlaa LbMNAL Us MtVIew NaUdrlro SocMoN SeCalEg SthmCo SouPae SouthRy Sperry RtdBmd StdOilCal StdOtUng StdOUNJ StdOUOk RUuffCh StarlDrg StoaeW 32 V4 834 938 1 Skellyoa 231 131 963 ” Slauaoaa Sinclair 7 40 24 IB 13 2 RaythnM RepAvn RepSU RevereCp ReynTB RchldOU RylDtek Safeway RUsLoag StRaPap Sckonley SearaRs SharnSU ShellOU 14V Kroger Collin A A ColoFAlr ColBrdA Total 14 8t 47)4 IntNtrk! IntSalt IntTAT IalCrCoaL JaffLak JohaaMn JoneaAL JoyMf KanCtSo KoiaeyH Keneentt KrnCnty KroaaCo KroaaCo Collate NEW YORK July 11 fAP) — Spot nonftrroui metal price Thursday: Copper 36 cent a pound Connecticut Lead 19 cent a pound New Valley Zinc 12 Mi cent a pound Eaat York Tin 8814 cent a pound 6t Louis New York Settlement price: Copper M7i kina 1217c: lead 19c: aiivor 80029c 47 43 7414 44 7 120144 214 IntHanr' CluettP CocaCola METAL PRICES 44 44 to data 1999 THURIDAY'S QUOTATIONS Bid lAakod GoldCh riutu GrWet Prince HeraSil Prosper IndQueoa RtroAr Kaanebea Rnvetoa Kaystono SllKWeat Lakealda StlShleld Leonora Siltitaod Little May ' Rioux Mayl'r RolronBIoa MaJOU South Xtnd Mammoth Sundance MHlll Swansea MGolg Tar Baby Meoe-Kaa- r TlnCent Tin ad MtKtate TlnStd -- 18 4244)4' 8 211414 790000 shares: Salt Lake Slock Market Rayonrr 4 IntRuaM ClImaxM Total American stock aalea Thursday RCA 72 Intlakelr i PanAW A PanhEPL PanhOll ParmPlo Penney PaanRR PepaiCol PhelpaDd Phil co PhUMorla - 91 IB HollandE Hmataka HouaehF Howefind IdahoPw lUCentrl IndRayn InapIrCp CNoW First Boston Corp reposts do 9t The underwriting of 198990 shares of capital stock has been CbRIAP Chryaler the completed with First Boston and associates purchasing emep unsubscribed shares CtiSerr 10V 23 88 38fi 9844 20) 934 341 10’ 3 74 HUtonHU AS 44 PacWOU PhlUtpaP 1411274414 3W ProcAG PlymOil 341 3844 1 14 83V - H' PubSEG 104 39V 4 344 Pullman PureOU 341 41 V4 HyeaMf CatarvT Colaneao Celolez CerodeP Carta ChanVA CheeOh CMSPP do pt 81 IB HerePdr HydanCh Since establishment in Salt Lake City nearly two years ago the Shell Oil Co division office here has grown to the point BdiPtBr where its staff numbers 240 persons BrUceM Bucy-E- r 100 more than of Galen Sturgeon division manager says BuddC the geologists production department and office personnel Burlktnl Burrfha are located in the city BulteCa buildover entire to th6 take CaXPrkf The firm which has an option CallahaZ ing it occupies at 33 Richards St is planning to extend present CampbS space to the whole second floor It also has the full fourth CanDry CanPae floor CaaeJl Mountain Fuel Stock Subscribed houaht Rtrevell-Patereo- OtlaEl OwenlU ParGAE 4 8 HartSch BeatFda BathSt BlawKi RoeincA Borden BorfWa SL Staff OllnMat OUvarC 1 234 '984 120 834 Cloaa Ch OhloOU n tap-- Chkape Induetrtale and UtlllHea I Bid Amalramated Suiar 137 98 do pfd 10 0Q Bonneville Limited 79 Independent Coal A C Mountain Fuel Supply 29 00 DO Fin Salt Lake Hardware 24 00 Utah Flra Clay 23 00 Utah Home Flra Ina 29 00 W eaters Development 90 Western States Ref 190 Ohio Ed 18 44W 4 7 2114 GulOU Baniuet Northrp 47114 24 Wp Ub 23414 4 FruehTr AaDGda 49 24 19 11 12 48 V4 7 80 4 2 25 904 - 14 - H FdnQu Atrhiaa Glenn Waterman former resident geologist for Anaconda Co at Chuquicamata Chile has been named a field geologist at the Salt Lake geologic offices of the exploration division of the mining firm Mr Waterman is a graduate of Stanford University associates report Shell Oil Notes Gain in THURSDAY'S QUOTATIONS In 100a (APt-at- eck Wheat — Firm: saw crop marketing slacken Corn— final temt expert homed bid and asked prices Tha foUowtn are obtained from the Utah Securities Dealers quotations committee They de pet represent actual traasactlona and are Intended da a suldt to the ranaa wtthla which these ae curl ties oowld have been told (as tndlcated In tha "btd“! or houaht las tadlcated la tha "ashed column) THURSDAY'S QUOTATIONS American Stock Exchange Sale - OVER TIIE COUNTER 00 Ifloaei Ch 21 July her aircraft chemicals atroaf Bonds: Steady! rag sag nttllttea prove Cotton: Lower: general UaatdaUen Sept Noe Sale In 100 411 ElrAtoL 28 E1PNG 4 Emran Q 10 EquItO 22 EneRR 8 Evrahrp 18 FrbktM 100 EldEAA 8 FmlyFn YORK NEW HI Oct Nov Dec Total NY bond aalea Thurertay 14X10000 1839 to data 1978713400 Total American bond aalea Thursday 9300000 1999 te dale ' Markets in Brief MERCANTILE EXCHANGE CHICAGO QUOTATIONS Chf This projection of earnings was given by Paul Neff chief executive officer during con- Noe Cloeej Ch 4 65t Pressed Metala of America Inc announced that directors approved salt of tha automo -tive parts firm’s assets toTred erick W Richmond New York and a group of unnamed in vestors ST LOUIS — Missouri Pacific Railroad System net Income for 1955 is expected to be about $17170000 compared with $16749000 last steel oper- YORK-T- he Jan Feb In 100 — MICH "NEW ating rate for this week is estimated at 94 3 per cent of capacity American Iron A Steel Institute reports This is calculated to produce 2276000 tons Attorney General Notes Bank Rule Sale HURON PORT Estimate Railroad’s Income Jta Even though articles of incorporation of a savings and loan firm authorize the company to establish branches the State Bank Commission must hold public bearings on each and every branch the institution proposes to set up So ruled E R Callister Utah attorney general in response to a question by Bank Commissioner Louis S Leatham The ruling concerned the First Security Savings and Loan Assn whose articles of incorporation proposed branches In Provo Ogden and elsewhere with malhoffices in Salt Lake City the attorney general’s office reported Approve Salo Steel Operating Rate Gains During Week 4 5 contest to warrant holding pub' lie hearings by your rubcom mlttea prior to Libby’s annual meeting on Aug 17 (R-Ohi- New YorkBond Market New York Slock Market Launch Million Dollar Equipment DO’ mm 1 f ) A |