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Show Lr: ; 1 , L oJ i..; P Ml a. SMELMB TALLKt LAKE SALT HICKS hImC SILVH (pw pit 1H LEAD, corns OOLD ZUiO tuii ...! NMN IMN (ptff Ml ip Hta INI Features Mining, Oil, Financial VOL. 18. NO. Salt Lake City, Utah, November 28, 1947 48. One Year $2.50 Indian Oil G. A. P. A. Urges Coinage Land Offered Ratio for Gold, Silver Continuing its efforts for more favorable conditions for the prospector and acceleration of prospecting activities, the Great American Prospectors Association is closing one of its most active years, according to the 1947 report of the now world At Public Sale Gas and ROOSEVELT, Utah oil mining rights on 7,164.24 acres of Tribal and Indian allotted lands within the Uintah-Our- ay reservation are being offered for sale under the sealed bid system, Forrest R. Stone, disAgency Superintendent, closed this week. Prospective bidders, Mr. Stone advised, have until 2 p.m. December 18 in which to submit their sealed offers to Agency headquarters at .Ft. Duchesne. The Indian acreage involved in the current gas and oil mining lease sale, is the same land which was placed on the block last summer. Carter and Stano-lin- d, joining forces five months .ago. came ud with a total offer of $61,000. This figure Included the specified $1.25 per acre rental fee and a bonus bid of $4.08 an acre. The Carter-Stanolibid was accepted, but rejected in September following the recommendation of the Ute Business Committee and a higher bid will be sought. Inclusions Excluded from the. terms of the present lease sale is the stipulation requiring the lessee to start drilling operations within one year after the acceptance of his bid. This requirement was a major term of last summers lease sale notice, which also made it mandatory that the lessee drill to a depth of 7000 feet ' on each test Terms of the prevailing sale call for $1.25 per acre annual .rental fee, which must be paid in advance by the successful bidder. Each bidder is required to submit 20 per cent of the ' total annual rental fee and 20 per cent of his offered bonus with the bid. Checks or drafts are to be made payable to the Treasurer pf the United States. Terms of Lease Failure of the successful bidder, to complv with all terms of the sale and the regulations governing oil. drilling operations, will render that bidders deposit liable to forfeiture should the "Commissioner of Indian Affairs so decree. The terms of the lease are good for 10 years from the date of approval by the Indian Affairs Commissioner, and as much longer thereafter as the substances specified in the lease are produced in paying quantities. The recipient of the gas and oil mining rights on the Ute lands will be required to fur nish a surety bond in the amount of $15,000. All bids will be re- -. ferred to the Ute Business Committee. in the case of Tribal lands, and to the. owners of allotments in the case of Allotted Indian lands before final action is taken by the Office of Indian Affairs. (Roosevelt Standard.) nd famous organization. During the year, membership of the group was substantially increased and now includes an impressive roster of enthusiastic prospectors from one end of the Nation to the other, Mr. George H. Watson, Scribe, said in Salt Lake today as Annual Reports were being mailed to members. Aids Prospector A special contribution Devoted to Hedping the imating $600,000 is beingapproxgiven The Prospector Prosper; of The Carter Oil Proud Glories and Tradition of employees who are enrolled, as of AFTER MANY YEARS of mining and the production of milOur Noble Tribe"; 'To Smoke Company 30, 1947, in Carter's September lions in' new wealth, miners have been forced to extract lower the Fragrant Calumet with Our voluntary more savings Fellow Braves and Review Old has been announced.program, it grade ores from greater depth as the higher grade and a exhausted. become ores have accessible Only spiall easily Friendships, the Great AmeriThe bonus wilt be shared by amount of metal was extracted from the batch shown in the can Prospectors Association has 97 cent of the companys above photo. been instrumental in obtaining 2300per employees, working in 24 training facilities and more fav states. Every Carter employee in orable conditions for the pros- the thrift will receive an plan pector since its organization in outright grant of $25. Additional Salt Lake several years ago. funds will be allocated each emWide Membership in ratio with the employNow headed by the nationally ployee ees in the savings participation publicized Mayor of Romantic plan. prominent mining and Alta, may elect to save civic fiure, the G. A. P. A. boasts upEmployees to 10 per cent of their earna membership comprised of perregularly. These funds are The current search for ores throughout the nation to meet sons from all walks of life all ings in - part, by monthly matched, to the in sinew put the the demand for metals badly needed interested in Seeing the Pros- company contributions. The nations industrial biceps, has given rise to the relative status of pector Prosper. $600,000 gift just announced is Listed in the annual report as over and above the Utah in the metal mining states. regular conaccomplishments during the year tributions made to the emSeveral years ago, L. C. Gra-to- n, 1947 included the following reso thrift accounts and also geologist and authority in lutions urged for adoption by ployees is in addition to the annuity arecothe field of mining industry federal and state legislators:. rangements between Carter and Urges Bimetallism nomics, made, the following obits personnel.. which Urged that the prospectors The contribution has been givservation on Utah-mininschool: be enlarged; urged that en Carter employees every year holds true today: the U. S. Congress restore gold since the thrift plan was instiand silver as money of the basV tuted in 1936. Rank Output of 14 ounces of silver to 1 ounce In. value of output of the of gold . . . which is undoubted- metA state department official ly the proper ratio no matter I OyiOT oTOXnQTS precious and $ J als, Utah has attained the proud has warned the petroleum in- which way one looks at It as it ir is based on the comparative 1111770110 Well exof second rank place, being dustry not to rely heavily"" quantity of production of these . ceeded only by Arizona, in con- U. S. diplomatic support in its metals and comparative cost per rJnnr-IIS luff enormous copsequence of the same. Thisf"cw ounce for producing abroad. In operations ... that. . of per production GRAND JUNCTION The The- warning was made by bimetallism is the only sound leadership in produc- John basis brothers their should the and be put A. deTaylor pump currency Loftus, chief of the tion of the five great metals, be in operation at their Cisco well petroleum division, In of our money and should Utah stands easily at the top . . . partments signed article in the New York adopted immediately for a pe- last week but were able to there is an element of great se- aJournal pump only about a barrel an of Commerce. After out- riod of at least 100 yeans. curity in the fact thateachUtah on went hour,- according to a report pubalso The to limitations strict oragniaztion of possilining holds a high rank in Federal record ble leasing lished in the Grand Junction against and diplomatic support these vital metals and is thus lode out and. Qlairps. not against Monday. The pump was cleaned that did mine, it, better independent of violent pointing an mora- before installed but apparently of extension the further present encouragextremely world's supthe fluctuations in not well enough and it had to torium of annual labor on picture, Loftus said: and price of any one. of ing ' If ply be torn down, again and reclaims; is reliance mining prime placed them. ascleaned. The brothers hope to the of Tribe of the United Headquarters . . . But Utah is a state of upon the ability have a good test on the well at Gulch, to States are sociation its throw ores. Roaring government relatively low - grade.Western diplomatic weight around, Amer- No. 2 Level, i2W East First com Dieted this 'week. Among the. principal Oil taken out during pumpican foreign operators are not South, Salt Lake City, Utah. mining states, Utah has always last week did not lower the ing to far. this get likely very in bottom been close to the in the hole and the Taycolumn Instead, he said, the history of Silver respect are now more inclined to lors. ventures oil foreign suggests Grade Low Mine say they have a producer. It in general the strongly that wont be possible to determine Loss Shows of those has operations The importance of this Is stability of the hole until the been proportional to the. For the quarter ended Septem- production clear; it means that the mines degreedirectly full operation. is in to pump which the foreign oft ber 31, 1947, Silver King Coaliof Utah are down to about the have conducted their operators tion Mines Company, operating Der share on 1,220,467 shares of economic limit, that they are at business to the fair of advantage in the famous Park City Mining $3 par value common stock. about the economic equilibrium the in were which country they this Net loss for the year ended . When . ore. . Utah, recorded a loss of grade of and have succeeded District, operating taxes and reached 30, 1947 was reportall is after of condition September $82,963, equilibrium in the government or 7.8 cents per outconvincing at ed $94,831, .before depleit means that the profit per and depreciation, but countries that of such tion. This was equal to 6.8 cents standing share. ton is down about to the lowest the people arrangements were fair and limit for sound economic health beneficial. of the industry, and any seri- mutually canous inroads upon that profit not fail to have diastrous -- Employes of Carter Oil Getting Bonus Western Mines Forced To Utilize Low Grade . . . I semi-precio- us 1 1 I i . 1 . linn - all-rou- nd - un-paten- ... ... ed -- ... King Mine . Coal Mine Safety Report Issued by Federal Bureau 'High Profits' of Oil Firms Dissipated By High Costs Currently, high profits are of being reported by oil concerns the nation, both small and large. What the public fails in general to realize is that the companies in making the -- big profits asare the boat same exactly the wage earner. He is making more and money than he ever did beof more out to it, having pay cause of increased costs. A few years ago, refinery equipment could be built for $400 per barrel of daily capacity. Now that cost has soared to more than $1000 a barrel. A few years ago a mile of pipeline could be laid for $12,000. Now it costs $30,000 a mile for the same job. The icrn cost of building a service station has more than doubled. Replacing a barrel of oil lifted from the ground requires almost three times as much money as it did a few years ago. So, if the oil industry is going to be able to continue supplying vitally needed petroleum products to the public the oil industry is going to need all of its big profits. , Actually the big profits of the oil com panies are just as lllusionary as the big wages of the worker. Niether the big profits nor the big wages will buy as much as would a much lesser sum, a few years ago. Montana Oil 8c Min, ing Journal). As a further aid in promoting Meted Mining Industry oi Utah safety in the Nations bituminous coal mines, the Bureau of Mines today released a publication many serviceable containing accisuggestions for preventingmisceldents resulting from laneous and heretofore unclassified mining hazards. The seventh and concluding publication in a series of safety manuals designed to aid coal mine supervisors and officals accistudying the techniques ofCircuMiners dent prevention. lar 60 points out that 44 per cent of all nonfatal accidents occurring between 1933 and 1942 resulted from such miscellaneous causes as falls of person, flying safeparticles,' and inadequate under-hfnrand surface for guards V, . Emphasizing that many of these accidents could have been prevented, the publication offers numerous recommendations for hazards , associated reducing with surface and underground operations. In discussing Surface and Underground protection, the Bureaus booklet deals with new such topics as fires and explosions at tipples and cleaning mine-refudisposal, plants, oil and grease, maof storage chinery and hand tools, wearing of mining, apparel, safety drilling, and loading machines, illumination, inrushes of water, escapeways, and employee-identificatisystems. Others sections of the circular discuss health and sanitation and gen, eral safety measures. Surface-U- nderground 85-pa- ge se on . i |