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Show .4 October 24, 1947 The Western Mineral Survey, Salt Lake City, Utah Committee to Weigh Value of Sec Necessity, Malone of Nevada, chairman Senator Geo. RENO, Scope of Goldfield Strike Grows W. Nev- - of the U. S. senate natural resources economic committee, announced here that the committee would resume hearings in Reno for a period of three days, beginning Nov. 10. The hearings will be held in the State Building, at 10 oclock each After GOLDFIELD, Nev. three full weeks of intensive exploratory work by the New-mo- nt Mining Corp., during which workmen have, drifted about 150 ft: on the rich ore shoot which materialized unexpectedly in the center of the Whitehorse group of claims, the scope of the strike is still growing. By late in the week, the north segment had widened to at least 10 ft., while the south leg, which has shown inconsistencies from the start, had tapered down to a few The special hearings In Reno are occasioned by the recent action of President Truman in the vetoing of the premium price bill which granted subsidies on lead, copper, zinc and manganese, and by the current activities of. the state department in Geneva, where proposals have been made cutting tariffs by as much as 50 per cent on hundreds of commodities produced in the . inches. This latter development was not considered necessarily unfavorable. for earlier in the week the south portion had opened up to 3 ft after narrowing to 1 ft. Further, it was recalled that the famed Engineers lease was no wider than a pencil when it suddenly expanded into a gigantic ore deposit from which $2,000,-00- 0 was removed in four months. There was still no official indication from Newmont headquarters here as to the average value of the ore, although it was admitted that it classifies as high grade. Exploratory work has established that the vein in which the ore shoot is contained is about 30 ft. wide, pointing to the likelihood that other rich ore bodies may soon be uncovered. This belief is strengthened by the fact that the new discovery conforms to the strike of bodies in the neighboring fields where so many millions were removed in the early boom days. Abrupt widening of the north face of the shoot seemed to indicate that a juncture had been reached, and that the values, which have shown a tendency to increase in proportion to the width of the deposit, may rise further. Widening of the deposit came suddenly, from approxi-atel- y 5 ft to twice that distance, sideswiping tests showed Wednesday. (Goldfield News.) U. S. WHERE NEW MINING OPERATIONS are being conducted. View of a portion of properties controlled by Western Mining & Development Company located in the Railroad Mining District Elko County Nevada and known as the Grey Eagle Mine. Operations are now being projected both in develop- ment and mining activities. Exploration of Utah Coal Lands Planned The committee is inviting leading representatives of the mining industry to present testimony showing the difference in cost of production of specific minerals between die United States and those of foreign countries which compete with the United States. The industry will be asked to give its opinion on the effects of such differences in cost and the part, if any, that should be played by import fees, tariffs and subsidies in promoting the growth and development of the American minerals industry. The committee will further inquire into the current practices and regulations of the SEC to determine whether these retard the investment of new venture capital in the mining industry and what steps could be taken to facilitate the flow of fresh capital into the exloration and development of the countrys mineral resources. Hearings were conducted by the committee in Washington during the spring and summer months to inquire into all of the . Negotiations for a $250,000 exploratory project on public lands in Carbon County, Utah, designed to increase the available supply of coking coal for metallurgical use in Western States, are being conducted by the Federal Government with two western steel companies, Secretary of the Interior J. A. Krug announced today. Funds for the proposed project would be provided by the GeFlow neva Steel Company, a subsidiary of the United States Steel Corporation which is operating the former government-owne- d Aid Business . plant at Geneva, Utah, andsteel the Kaiser Company, Inc., operating PITTSBURGH. Pa. The a steel plant at Fontana, Calif. The shortage of private venture The program, similar to other capital, at the time of its great- cooperative agreements between est need, is the weak link in Interior Department agencies and industries, would seek our economy, Emil Schram, private to determine the amount, locapresident of the New York Stock tions, and quality of coking coals Exchange, declared here in an available in an area north and address before more than 500 west of the town of Sunnyside, Carbon County. Coking coal leaders of business, finance and in is now being mined south of Denver Mine Group industry at a Chamber of Com- Sunnyside. ' merce dinner honoring the board Slates Convention The exploration. Secretary of governors of the Association The 51st annual meeting of of Stock Krug stated, will be supervised Exchange Firms. two the Colorado Mining Assn and by agencies, the Industry to grow, must have Bureau department affiliated groups will be held in of Mines the Geoand a need capital and there is great HoDenver at the Shirley-Savo- y consumUpon logical demand for it now. he said. mation' Survey. tel Feb. 1, 2, 3, 1948. The gold and of the agreeproposed necfor capital is and silver banquet will be held The demand ment with the these companies is our because economy out would Monday night, to be followed by essary for production. all the agencies carry exTo crying the sowbelly dinner at the conduct and necessary analyses to into go industry had Hotel Tuesday even- pand instead of equity financing, tests of the coal in laboratories debt, sour The dinner will ing. belly and plants to determine its carbe held at the Cosmopolitan Ho- and this is an unsound policy. bonizing properties. After the war. industry began tel on the same evening. sites already have Drilling to reserves and use surplus up its The meeting promises to have been selected acby the department for reconversion, many- unique features which earnings to Schram, and began to in the Sunnyside coal field so have not been included in pri- cording or meetings. The dates were set look at the normal source . of that work may be begun immeat a recent meeting of the execu- capital, the securities markets. diately. Contracts for the drillwork will be let to private tive committee. But industry fiqds. he said, ing contractors on a competitive baare that the securities markets I caught my boy friend neck- apparently suffering a depression sis after the agreement for the at a time when most all other project is signed. ing! Previous Bureau of Mines carI caught mine that way, too. lines of business are flourishing. bonizing tests have determined that coal from the Sunnyside field, south of the town of Sunnyside, is suitable for the production of coke, one of the esseng. tial ingredients in However, the need for more metallurgical coal to supply western industry has been increasingly urgent, and additional sources of coking coal must be found in order to assure the continuation of the industry and its expansion. 1 Both the Geneva Steel ComGeologic Section, Showing Strati pany and the Kaiser Company hold coal leases on public domain graphy of Formations in Utah in the Sunnyside field and now Western Colorado from Tertiary to obtain metallurgical coal under leases. these The new. agree1 : . . Carboniferous Age. ment will contain an amendment to the Code of Federal Regula2 Ipdividual Structural Contour Maps tions, Public Lands, providing that any person or organizaOil in Structures Located of Various tion furnishing money for exUtah ploration and prospecting in' order to determine the existence of metallurgical coal may receive 3 Map Showing Location of Oil Strucwithout competitive bidding a tures in Southeastern Utah, North- lease of such lands not to exceed the acreage allowable by western New Mexico and a Portion of law; the coal to be extracted and 1 processed primarily for consump. . $1 .25 Western Colorado. tion in connection with the production of ferrous materials by For Structural Contour Maps oi Any Particular the lessee. Structure in Utah and Colorado. Write for Each of the companies will contribute $125,000 and unexparticulars. funds will be returned to pended them after the completion of the Arrangements may be made through this ofproject,, which is expected to fice for geological information on principal oil take about six . months. The structures in Utah. government will make progress reports or Interim reports on the work, and at the conclusion of SURVEY the investigation will prepare a final public report on results. ore-beari- - ng of Private Capital Needed To major factors which affect the production and. marketing of the countrys basie natural resources. At these earlier hearings, testimony was received, from leading ; representatives of the state department, interior department, department of commerce, department of agriculture, department of justice, U. S. tariff commission and other federal agencies. The hearings covered metals, minerals, forestry and fishery products and certain basic agricultural products. The earlier hearings are being published and the first volume, containing the basic study by the department of . interior, entitled The Mineral Position of the United States, should be ready for distribution at once. All interested parties are invited to attend the hearings. Those wishing to present data should communicate with the chairmans office in Washington. - Treadwell Yukon Pays Dividend SAN FRANCISCO, Calif. The Treadwell Yukon Corp. Ltd., in liquidation since 1942, has mailed stockholders a dividend of 5c a share, aggregating $74,629 on shares outstanding,' and is the sixth and final distribution of its capital assets. This brings to $785,640 the amount distributed as liquidating dividends, equal to $0.52635. a share including the half share of Keno Hill Mining Co. stock valued at 15.27c a share, paid to stockholders last September. FOR SALE OR LEASE ExcalUnt niain? property, located in Nevada. Eleven patented claim, ton additional claim. large mill building partially equipped. Smelter shipments show high return. S. . M. MINING COMPANY F. O. BOX 105. SALT LAKE ... CRT. UTAH Shir-ley-Sav- oy - MAPS OF UTAH OIL STRUCTURES Compiled by Prominent Geologist and 8'xl .75c ..$5 8"x24" WESTERN MINERAL steel-makin- Compressor, P. B. C. F. Powered by Mercury engine. Now in operation but is being replaced by larger unit. Chicago-Pneumati- c 4-2- 25 Address inquiries to Box 4-- E Care of Western Mineral Survey SmSOMUBE TOIMY The Western Mineral Survey for authentic reports on Mining and Oil developments in the West. FILL OUT AMD HAIL THIS C0UP0H TODAY WESTERN MINERAL SURVEY 22 Vi East First South St., Salt Luka City 1, Utah Gentlemen: Enclosed find in payment for years subscription to tha WESTERN MINERAL SURVEY. ONE YEAR Name Street City State $2.50 TWO YEARS $4 . ! |
