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Show . November 9f 1951 The Western Mineral Survey Salt Lake City, Utah . Oil Drillings OPS Rulings Help Lead, Zinc Markets : Oct 2. 1 . Export business is quotable at 29 to 31 cents per pound, f.a.s. gulf ports. The domestic quotation remains unchanged, at 19 cents, East St: Louis for Prime . Western,. . ZINO " OPS issued an order under CPR (Ceiling Price Regulation) which allows a 2c. price increase based on zinc content of the following products: zinc sheet, plate, rolls, wire and rolled or drawn products, zinc janodes, shot, 'and powder. Items not ihcluided in this order will have to be covered in subse - ; . quent orders. ' , . . r . . ' ; . . ZINC SCRAP ORDER OPS authorized ceiling price increases for zinc scrap, and re-- melt zinc effective .Oct 22.' Un- der Amendment 1 to Ceiling Price Regulation 42, unsweated zinc dross and zinc die cast slab ceilings were set at 13.75c, per pound, an increase of per pound over previous ceil- ings. All other grades of ' zinc scrap are increased lc. -- per . - : ; lc ; . 'pound, - PLEASE! . ' Simultaneously OPS issued 1 to Supplehien Amendment , r tary Regulation 48. under Gen ' era! Ceiling Price Regulation which ' increased the ceiling price for-- . remelt zinc with a minimum zinc content of 97 to 19c. per pound for quarttities of 10,008 pounds or more, an increase of 2c. per pounc over previous ceilings. A' ceiling of 14 c. per pound is set for ' remelt zinc with a zinc content of less than 97 when sole in quantities of 10,000 pounds ; or more. The zinc scrap order has re suited in a flow of scrap and re melt material which was at a ' complete standstill ever since Oct. 2 when OPS issued an - OPS issued an order pertain-n- g to toad products under CPR (Ceiling Price Regulations) which allows makers' of the following' products to increase prices two bents on basis of toad content: Lead sheets, foil, wire, pipe, extruded or rolled products containing not more than one per cent tin; also toad anodes, shot, and powder. Such items as storage batteries, which were not included, would have to be covered by additional orders. The Office of Price Stabilization authorized an increase of two cents per pound in the ceiling price . of toad scrap materials, secondary toad, ancj antimonial lead effective Oct. 22, 1951, tinder Amendment 1 to Ceiling Price Regulation 53. ' The ceiling price for' secondary lead containing 88.85 per cent toad is set at 19 cents per pound, with poorer grades at corresponding lower prices. Lead scrajp other than battery lead is placed at 17.25 cents and 16.50 cents per pound, depend' ing on quantity. Antixhonial toad ceilings are set at 19 cents per pound for lead' content,1 but the ceiling price for antimony content remains at 51 cents per pound. The ceiling price for battery lead, plates is set at 19 cents per pound of toad content and antimony content toss a smelting charge of two cents or two and one-ha- lf cents depending on quantity. Cbilingd for used storage batteries in boxes are Set at 7.65' cents and 7.45 cents per pound. .The scrap order of Oct. 22 has resulted in a resumed flow of scrap to smelters and the release of good tonnages of antimonial toad to battery makers. Sales of lead for the '.week totaled 1626 tons. No qhange was noted in the export pride of .lead Which is quotable at 21 c f.a.s. Gui ports. The domestic, price con tinues at 19c,: New York. COFFER A dock strike at New York harbor during the past week has tied up an estimated 10,000 tons of imported copper. Most of i is refined copper destined for immediate consumption. The fact that detained ships canno unload and return to foreign . . . SUBSCRIBE SPECIAL OFFER Submit One New or Renewal Subscription Accompanied by One Additional New Subscription. A TOTAL COST FOR BOTH OF YEAR , 2 YEARS .$3.00 $5.00 1 Single Subscription 1 Year $2.502 Tktittiidi - ttiooiond feet of very slightly ing fluid. A dwing the 1 Stto oil-cu- t. The Notional Society for (rippled Children end Adults, Inc Chicago 3, Illinois . . TAKE THIS UNUSUAL OPPORTUNITY OF Gold Standard LOS ANGELES, Calif. A return to ' the gold standard to check, inflation was demanded in a resolution adopted by the western . convention of the American Mining Congress in Los Angeles.-. . . that ns. OK AND MINING INDUSTRIES , i ter - . . 16-4S-4- - , ut 17 m on ownership of gold citizens' be reAmerican by moved and that producers be allowed-to sell the precious metal domestically or abroad in order to determine at the earliest area. .. possible date a price at which . The well is located on a gold ' and the dollar can be con block made 'freely interchangeable trolled by. Byrd-Fro- Jointly Inc., the with the most beneficial and operators; Morgan - Walton Qi The reso- & Gas Inc.; of Salt Lake City economic effects. lution stated in part: Petroand the .Resolution of the gold stand- leum Corporation, one of the ard with free convertibility of nations largest oil producers the dollar and gold is an essen- and processors. The well has' .already been tial step if financial integrity on the part of governments is to described in the Tulsa World, be regained. Tulsa, Okla., newspaper, as the best gas. well ever drilled in Utah. shipping points for new carMr. Alton reportgoes will slow down movement edMeanwhile, seven-inc-h that casing had of copper to this country even Byrd-FroH. L. set in been the as late as December. 1 on the Last Chance No. Rath Sales of copper for October structure in County at delivery to date amount to about 2805 feet withEmery' 100 sacks of 'ce97,175 tons, as compared with and that after permitting the 108,3.59 tons delivered in mentcement to set until Wednesthe ' September ' operator would There is some evidence of a day evening, the the drill plug into the growing reluctance on the part Sinbadthrough limestone. Estimates reof European consumers to pay from previous testing the current price of $1200 per sulting ton of electrolytic copper have indicated that the well has a capacity of 375,000,000 cubic (equivalent to about 54c per feet of jper day. However, pound) which the Chilean au the gas isgas to be of lowreported thorities have set. on copper er BTU content than the Clear coming out of Chiles 20 per Creek well. Gas from this well cent share of total production. the proOPS says definitely: No ac- is also committed to tion is contemplated by OPS posed pipeline. with respect to an upward revision of. ceiling prices for pri- NeW Strike mary copper, and copper alloy HAWTHORNE, NEV. Much scrap, brass-mi- ll products, or interest was created here by the aluminum scrap. report of a rich copper discovsilver; ery southwest of Hawthorne. Demand for silver was small Actually, the' copper was found in the New York market but years ago afid those who have since offerings were also small, retained claims in the area have the, price remained firm intermittently prospected the throughout the week at 88.00c area for many years in an effort to trace the float to a definite an ounce troy. 'London silver was unchanged vein. Many Hawthorne resibut steady at 77d an ounce troy. dents still have claims in the Considerable interest is fo- Pamlico-L- a Panta area and on cused on Mexicos current move toward Garfield Flat, which is to mint silver pieces to the general location of the reencourage hoarding and hence ported discovery. combat inflation. Five pesos The Lyon County men who are worth 57.9c, at the present were reported as having located official rate of exchange. Silver a large number of claims spent contained in the coin is worth some time in the area this 56.6c at the present New York spring prospecting the district quotation: The volume of coinage- and their efforts revealed traces -turned e out by Mexico does of copper ore; . but not yet indicate, whether .the whether any major ore body has move to encourage hoarding Is been discovered is something they have not annpunced. getting results. : . 16,-000-a- cre - - : st Mid-Contine- nt . . : st - . . - . , 2. Duchesne in. cen- . high-grad- 22 Vz EAST FIRST SOUTH, SALT LAKE CITY, 1, UTAH . (located near of SE NW, Sec. A core between 5626-5- 6 feet re- -, test covered 30 feet. A drill-ster- ii 5591-5656 at feet, open two. to the surface in had gas hours, one hour, recovered 200 feet Continued from page 1 gas-cmud,' 4100 feet of salt drill-stetest at 5986-60A water. opment plans were contingent feet,, open two hours, had upon complete testing of the surface in seven minwell, but informed sources in gas to the Salt Lake City declared that utes, strong blow .throughout further development wells were test, recovered 670 feet of fluid, almost a certainty Gas from the top 310 feet, 70 per cent oil, 30 Well is committed to Salt Lake per cent drilling mud;' bottom 10 per City from the Tour Corners 360 feet, 90 per cent oil, ; WESTERS MINERAL SURVEY Location. .Tribal No. 1 Duchesne-Ut- e Clear Creek Well Gets Gas Flow ' : .2 13-4S-4- so KEEPING INFORMED ON ACTIVITIES IN THE No. 1, ,(Duchesne located SE SE, n WiUis-Moo- Wildcat: No. Sec. ' Years $4 00 2- m GIVE NOW! ' The resolution urged , 8932-894- . Awieol- - Easier Seal Appeal. . drill-- 8879-898- feet,- recovered 53 feet; 5 core between a and drill-steA 13 feet: recovered feet, test at 8876:8945 feet, open recovered 40 feet of very, drilling fluid. slightly are Crews coring at 8979 feet. . Rosemary Lloyd No. 1, (located. near Roosevelt in NW, Total depth SW, Sec..24-lS-lE- ): 9672. feet. .Preparing to displace' oil before swabbing. f .Give. . now, oil-c- ut core-betwee- - then stand on their awn and prow' $e lend a hand, wool ' ap strong. you?. minutes, recovered 210 6 of crippled cMMrfcn took ,W yoo for help ol Easier 1ee. The proper care aow will hclj and- Copper' ROW The 20-1S-1- E): LEAD here for immediate consumption. Prices on quicksilver, platinum, silver, and manganese chrome and other ores were un- changed during the week. . of BasinArea in the oil activities of Utah has been reported by, the Roosevelt Standard: Ute Tribal B No. 1, (located near Roosevelt in NE SW, Sec. Crews cored between 8773-882- 6 feet and recovered. 31 feet. A core between 8826-7- 9 53 feet. A drill-ste- m feet, recovered test at 8635-887- 0 feet, open -- t only. These orders have relieved a state of paralysis which had set in on the products and scrap market ever since Oct. 2. A week-ol- d dock strike in New York harbor is holding up some l'O.OOO tons of imported copper, mostly refined, shipped . Level Highfollowing summary order covering primary metal scrap m orders were released by OPS permitting sellers to increase prices 2 cents on lead and zinc scrap, and on antimonial lead, according to E. & M.J. Metal and Mineral Markets. - Re-le- a s e d orders which permitted makers of certain lead and zinc products to pass along 2c. price increase which OPS authorized for. primary metal on lead-zin- c Long-awaite- d at In Utah cent' drilling mud, 32 degrees gravity, 90 degrees pour point. Total depth 6031 feet. Crews are stringing iip neyr, drilling . . line. Jack- A. Burnett No. 1 (lo- - cated Sec. Oh tween Strawberry in SW SW, A core be- 9999-10,01- feet 7 feet: A' drill-ste9616-- : 10,017 feet, 18 recover-e- d m test at two open hours and 25 minutes, recovfeet ered 6817 feet of fluid-80- 0 drillwater cushion; 2047 feet, ing fluid; 3970 feet; fresh water. Total depth 10,017 feet. Ran Gamma Ray 'and Neutron sur' i) vey . t Willow Creek No. 1 (located in NE SW-Sec21t,Us?2iE)! . Drill-ste- at test m 6763-698- 0 feet, open 110 minutes, recovered 1000. feet drilling fluid,' no test at A drill-ste33 minutes,feet, open packer failed,' good blow while packer held, made two attempts t, to no results, recovered oil show. 7160-713- m - 5 re-se- 2460 ieet drilling fluid 1360 mud, 1100 feet slightly gas-cfeet drilling mud, no show. Crews are drilling at 7493 feet. Canyon Government No. 1 (located near Myton,- SW, NE, ut - Crews spudSec. ded in October 27. Total Depth 40 feet. Drilling rathole. E). . Sunshine Mining: Sunshine Mining companys earnings during the quarter totaled. $237,990 approximately 16 cents per share, it was reported yesterday.' This compares with earnings of $386,613, or 26 cents per share, in the previous quarter and $455,559, or 30 cents per - . share in the comparable period of 1950. Net earnings for the first nine months of the year are $1,025,-95- 5, , substantially below the earning rate for 1950, when the company had a net of $1,660,781 for tle entire year, , Condensed balance, sheet for the first nine months of 1951 indicates current assets of $5,554,-85- 3, of which $3,223,333 is cash. Current liabilities total $1,394;-51including $1,001,505 for taxes payable. . 7, . |