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Show HI OF U LIBRARY " CITY 1 METAL PRICES f . -- . ? li h' " - rV - u 'j VOL . 22 f : - NO. 52 pr , ' Lead (per lb.) .19c Gold (per oz.) . . . $34.9125 24.2c Copper Zinc (per lb.) 19.5c Silver (per oz.) new mined 90.16c I I A u ..... , V- Lii Features Mininq, Oil, Financial - Government Blamed For Metal Dearth ' Shortage of metals and min- erals in the' nation today stems from the failure of the govern- ment to keep the mining industry running full blast after 1946, Senator James . Murray (D. - Mpnt.) said in Butte last week at the opening session of a hearing by a senate subcommittee on defense minerals. If the government had supported mining . and stockpiled excess production, he contended, there would be no need for present efforts to mine the necessary metals from the open market. Murray, who was presiding officer at the meeting caHed to discuss the minerals production program as it affects chrome, manganese and other strategic metals, said he had strongly advocated maintenance of fuli .mine production after World War II, but supports were withdrawn and the mining bus-- ; iness all but collapsed. There is a point during an emergency when one can be too cautious and too penurious, Murray declared. Both the war and cililian economies rest on a metal foundation." Our guns will not shoot' dol-- . 1 Salt Lake City, December 28,. 1951 One Year $2.50 Madison, Oil Securities List Interests ,tv In a highly descriptive report, issued this week in Salt Lake City, Madison Mines Company and Oil Securities, Inc., stock holders were given a compre- . I, . k . lar bills. Mining men from several northwestern state and Canada appeared to testify before the 9r 1 hensive resume of royalty and working interests held by the two firms in some 85,000 acres of oil lands in Utah, Wyoming r: - .v v 4. "&&& . Method Set For Obtaining Road Funds Stanley Walker, Bureau of Pub- Continued on Page 4 lic Roads, Washington, D. C. AH applications for access roads should be made on DMA form No. 105, which may be obtained from Senator Malones Reno office in the Title Insurance Building. Newmont Declares ? I " f fv(! 4 ' ' j . - 25 IVjI ' "S'-- ' x Known to many as the Richest Hill oh Earth,, as result of initial production of gold, then silver, followed by its long h&tory of copper production, Butte will now be the greatest producer of zinc and manganese in the United States, according to a recqnt prediction made by a well recognized authority Shown above is a portion of Anaconda's vast workings in the Butte area. . IPJfcglBDI '. s . EHULWr ... - , Newmont Mining- Corp. dedividend of clared a year-en-d $2 in cash and a stock dividend of a share of of Newmont Mining capital stock on each share of such stock issued and outstanding bn December 10, 1951. Both dividends are' payable December 20 to 26 stock of record December 10. In previous quarters this year payments of $1 each were made bringing the cash total for 1951 HHSHUE . r.'..Cfr.-!- : 1 ! JANUARY V , subcommittee. COPPER BOOST ASKED From one of the speakers came a demand that the domestic ceiling price of copper be D. C. Unitboosted at. least three cents to edWASHINGTON, State Senator George W. Maequal the 27 cents that U. S. lone (R., Nev.) today made pubbuyers must now pay for im-- ; lic instructions for those wishported copper. It.yras made ing to apply for access roads to by William Mason, a director mining property. The Bureau of ' of the International Union of Public Roads in Washington, D. Mine, Mill and Smelter Work- C., has informed the Nevada ers, who spoke on behalf of his Senator that the applications union and the American Federa- will receive immediate and tion of Labor craft unions. careful consideration He pointed out that copper Senator Malone explained is being sold abroad for 45 to that if the mine property is a ' 65 cents a pound; and that newly developed project, appli! foreign copper is selling in this cation for access road should be country at a 27 cent ceiling made to H. C. Miller, Executive price set by the office of price Officer, Defense Minerals Adstabilization. ministration Field Team, 1012 Despite these prices, the OPS Flood Building,. 870 Market St., has set a ceiling of 24 cents San Francisco. This is necessary a pounnd on domestically-pro-duce- d because property not heretofore copper, apparently using given a serial number by the . the cost of the lowest-co- st open-- ; DMA must be examined by as the basis for its that offices field engineers. Bepit producer fore any application for access determination, he said This erroneous policy can road can be considered by. the only lead to drying up of cop-- : Bureau of Public Roads in per production in this country, Washington, it must bear the DMA serial number. he stated. VThe domestic ceiling should Application for an access road be raised immediately Jo at least to an established serialized ; the ceiling price for foreign cop- - mine should be directed to - vv f' , ' r s and Colorado. Holdings listed by the companies include .55 per cent in 1280 acres in the California company unit area in the Red Wash'field, .55 per cent interest in 960 acres in the South Red Wash area, .55 per cent in 720 acres in the one-quart- er Great Future Seen For Anaconda's Butte Mines South Gusher district, and a 3 per cent interest in 1280 acres in the Asphalt Ridge area. Two of the most, interesting land plays in which the companies pre interested include a 1 to 1 per cent interest in 4834 acres in the Bad Lands Block of Uintah County, where Carter Oil Company is expected to spud a test next year, and a 5 per cent interest in 5000 acres in the Bull Canyon district of Uintah County on which two wells have been scheduled by the Continental Oil Company. UINTAH COUNTY Other listings of the companies include interests in 600 acres in the Green River block, 956 acres in the Bitter Creek block which is being utilized by the General Petroleum Company, 1040 acres in the South Willow Creek area and a, 2 per acres in NEW YORK Enlarged operations at the" Butte, Montana cent interest, in 1855 area of the Canyon property of Anaconda Copper Mining Cpmpany were predicted Uintah County in which the recently by Cornelius F. Kelley, company chairman, in his Union Sulphur & Oil Company Comd las acquired operating rights. address in Butte. at the dedication of the new. The companies also have a munity Hospital in that mining 1 per cent interest in 1281 city. acres in the Slab Canyon New interests varying from Speaking to the large group 2 to W. of citizens, including John per cent in 10,000 acres iii Plateau area and Wasatch the Bonner, governor of Montana, Mr. Kelley said: operating rights on acreage lit Wells, excess of 5000 acres in the same Today, 'and for years past, Ltd. is push- area. Mines, Noonday every foot of underground, de- ing operations at the Noonday SOUTHERN UTAH velopment necessarily made In mine located on Battle Creek, the compasouthern In the drainage, haulage and ven- in Ruby Valley, 56 miles south- nies interests Utah, include a 1 per tilation drifts and crosscuts west of Wells, Nevada, accord- cent interest in 2560 acres on through what was formerly consid- ing to the. Wells Progress, fol- the Thompson anticline, a 2 per ered-barren, country rock is lowing an inspection trip of the cent interest in 1680 acres on and accurate- mine. assayed carefully the North Thompson pinch-ou- t, some are There recorded. ly Original discovery of the a 2 per cent royalty in 1639 30,000 feet of. these passages later known as the acres oh the North Salt Valley driven each year. I assure you property,group, was apparently Anticline, a 1 per cent overridFriday that it takes little imagination made 1910. Since that time ing royalty in 640 acres in South in to predict that Greater Butte has been ore pro- Salt Valley Anticline and 1 per considerable the but will be preProject by small- cent interest in 1321 acres in cursor of still greater projects duced intermittently Present plans the Salt Valley Anticline. in time to come. For the hill er operations. Interests in the Big Flat Anutilization of modern contains mineral wealth that call for and construc- ticline, now being tested by will not only enable it to main- mining afacilities Glen M. Ruby, include a one to . tain its position as a major cop- tion of milling plant. two per cent royalty interest A new tunnel is now being per producer, but will, with- driven near the old workings Continued on Page 4 out any doubt, enable it to bethe of the for opening purpose come the greatest producer of of ore, main body zinc and manganese in the known a and lies which Extension below, United States. . located is which zinc orebody Development of these projects is now under way. They above the tunnel level. Stock First operation of the new will be brought into realization directed toward S. L. Broker through the completion of the plant willof be old dump, esti By an tunnel and its running some 5000 tons 120,000. shares of Vulcan Exancillary planned underground mated to contain ore zinc left of op day by early tension stock were distributed workings, and by , the bringing of erators during production into production the treasure we this week to the public through ore. know exists in the old Black high grade lead-silvJ. A. Hogle & Company of Sail Rock-ElMines, Ltd. is Lake City. The offering was Noonday Orlu section of the headed by Jack White and mine made in behalf of Callahan Zinc famous Rainbow Lode. manager and superintendent is Lead Company at 80 cents per share. The offering was over to $5. In 1950 cash dividends Fred Crosby, v subscribed. totaled $3, including a 75 cents disfirm The samp brokerage Voice (from passing car): year-en- d dividend paid Decema about tributed 250,000 shares ber 15. On December 15, 1950 Engine trouble? issue for Voice (from the parked car): year ago of this same Newmont also paid a dividend the benefit of the company. of of a share of Hudson Nope. , The property is adjacent to Voice from the passing car): Bay Mining & Smelting' Co. Vulcan Silver on which Day the down? Tire Newstock for each share of Mines car: and American Smelting Voice mont stock outstanding Noyem (from parked a 60 year lease. hold to. have Didnt ber 30 that year. Ten-Mi- le 122-be- Operation Started Near Nevada lead-silv- dis-xi- er Vulcan Distributed . Alice-Lexingt- on er m ' l-2- - ct, |