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Show OF U LIBRARY ITY 1 4 F s !. i S' . j ' y in .83.25c One Year $2.50 agency's rise as one of Uncle SSams major conservation agencies, Secretary of the Interior Oscar 1 Chapman said this week. A total of slightly more tnan a billion dollars shown in the recent balancing of the booKS represents earnings over .the past 167 years of the Bureau of Land Management and its predecessor agencies, the Grazing Service, the General Land Office and units of the Treasury Department which handled public land prior to 1812, when the General Land Office was established. Director Marion Clawson of the Bureau of Land Management pointed out that these lands which are being conserved and managed by the government are used and developed by private individuals. Thus better management of federal grazing lands nd forest lands and greater development of oil and gas and other minerals is helping to stabilize local and national economy. He .emphasized the fact that although revenue production from these federally owned lands is good business, additional benefits are accrued in the form of homesites for veterans, more grass, lumber and increased petroleum and other mineral supplies. . - " picture developments affecting the domestic mining industry figured importantly in many of the sessions of the Northwest Mining Associations convention in Spokane last Friday and Saturday, and since many of these developments originated in governmental actions, both domestic and foreign, much of the discussion centered around the role which government will play in the future of mining. There appeared to be fairly general agreement that the long- will be kept busy and under term outlook for world mining pressure to produce more, he was extremely favorable, with predicted. An upward pressure international relationships and on prices can also be expected. Another major porblem in the their affect on the domestic of mining is the changfuture mining industry as a major probing pattern of mineral usage, he lem to be worked out. President E. C. Stephens, in said. This can be met by anticichanges and stepping up his. welcoming address, pointed pating out that the domestic industry research in the interest of holdcontinues to face many chal- ing markets against the comof substitutes, he pointlenges which must be met petition ed out, adding that the control head-on- , but expressed confiof this problem as well as that dence that the recent change of of government relations i3 in political administration in this hands of the industry if it the country would provide 'new takes the initiative. within frames of reference The framework for the future which to meet these challenges. of mining, he said, is one of In the opening address at the increasing deFriday morning session, Sam- growing demand, on foreign sources, uel G. Lasky, a high official of pendence upward technological advances, and Interior of tiie Department n one of the editors of the Continued on Page 2 Paley report of the presidents materials commission, warned the domestic in dustry that there is a worldwide marching tide of government Interest in mineral rewhich will not be sources . well-know- Mining Group Requests Tax Relief Consideration Substantial reductions of the tax burden on mining, a sliding scale import tax on lead and zinc, and extensive amendment to ct were urged by mining meii last the present week in Spokane in resolutions adopted at the final session of the Northwest Mining Association convention. Present federal taxes, which, with the excess profits levy, reach a total of 82 per cent of income, represent a burden which threatens the survival of the mining industry as a private Week Ending Dec. 13, 1952 enterprise, it was stated in a BINGHAM DISTRICT, UTAH statement of policy prepared by unCombined Metals Reduction the resolutions committee der the leadership of H. J. Hull, Co. 275 tons. Wallace attorney and former : tons. 8293 U. S Mines president of the association. Retained earnings from min-in- y Utah Copper (Kennecott) operations are now insuffin cars daily average. 975 cient to provide a reasonable reEUREKA DISTRICT, UTAH turn to the Investor and at the labor-manageme- much-neede- d S new mined Federal Influence On U. S. Mines Continues To Expand in the metal markets Recent adversely mark reportThe billion-dolla- r ed by the Bureau of Land Management is a landmark in this li 14c Gold (per oz.) .$34.9125 .24.2c Copper 12.5c Zinc, (per lb.) SilTer (per oz.) Sayt Lake City, December 19, 1952 Public Lands Earnings Top Billion I Lead (per lb.) Features Mining, Oil, Financial Vol. 23, No. 50 . METAL PRICES nt Ore Shipments Pay Increase Approval of an pay increase for 14,000 employes of three big copper mining firms Anaconda, Phelps Dodge and Kennecottr was announced recently by the wage stabilization board. The pay boost, negotiated by the companies and several unions, last summer is ret- 85-to- roactive to July. Also approved was a three-wee- k ore 32 Chief Consolidated week vacation after 15 years for employes whose new con- cars. tracts include such a provision. Dragon Consolidated clay Major unions involved were the 134 cars. International Union of Mine, j Mill and Smelter Workers, the American Federation of Labors electrical workers, machinists and operating engineers. Mines affected are in Arizona, Montana and California. "Keeping "a mine producing can ts(ke some mighty close figuring. Some of our Utah mines are marginal, and it takes very little to close them down. If costs of materials, labor or taxes go up even a little, profits often drop to a point where a mine is forced to dose. Then everyone in Utah loses the benefits that come' from payrolls, snpply purchases and tax payments. .. same time leave management with adequate funds for exploration nd development work, the resolution declared. This situation has had an adverse effect upon the flow of new investment capital into industry, it stated. It is useless to expect fund to be invested in a high risk enterprise such as mining unless the investor is provided with an opportunity to recover his capital as well as a return on his investment commensurate with the risk. Over-a- ll tax rates on incomes of both individuals and corporations should be limited to 50 per cent, it declared, even in periods of emergency. The tax resolution recommended repeal of the excess profits tax and removal of its inequities retroactively, removal of limitations on deductibility of exploration expenses, exemption of new mines from taxation for three years after beginning profitable operations, extension of the depletion allowance to stockholders, and changes in depreciation and loss allowance provisions. Another resolution asked that congress give careful considera New Uranium stopped. . It stems, he said, not from any political philosophy, but from of essential responsibilities national government regarding welfare and security. Whether this tide will flow toward more ' government controls and interference in this country or ebb toward more freedom for the domestic industry with government participation at a minimum will depend on what steps the industry takes to analyze the trend of affairs, anticipate the areas of crucial government interest and put into effect its own solutions, he pointed out If needed information on ore reserves is not provide to the government voluntarily, mandatory reporting will be instituted. If industry does not accelerate its exploration activities, the government will be forced to enter the field. With world metal demand increasing more than world supply and our' access to world sources not as open as formerly, the U. S. mining industry tion to a sliding-scalimport tax on lead and zinc in inverse ratio to the price of these metals to provide the greatest protection when most needed and no protection when not required. The policy statement suggeste ed that the present labor-manageme- nt act he amended to prohibit compulsory unionism, labor monoplies and industrywide bargaining and to provide for the creation of a department relations of employer-employ- e of the present departin place ment of labor. Communist influence in the Internal affairs must be uprooted and mass picketing, violence and intimidation in labor disputes must be effectively outlawed. The president should be required to utilize the provisions of the act in threatened national emergency, strike or lockout situations. . Buying Unit Established The U. S. Atomic Energy CommissioQ has established a new station at Edgemont, South Dakota, for the purchase of uranium-bearinores. The station began accepting ore on Dec. 1. The Edge-modepot will provide a market for ,the uranium ores of the Black Hills region, which were first discovered in the fall of ore-buyi- ng g nt 1951. Uranium odes are being accepted at the new buying station on the following terms: 1. Camotite-typor resocoe-lite-typ-e ores will be purchased in accordance with the prices, conditions, and specifications of Domestic Uranium . Program Circular 5, Revised. e 2. Camotite-typ- e or roscoelite-typ- e ores containing lime (Ca Oo3) in excess of 6 per cent will be purchased under special contracts with individual producers which follow the price schedule of Circular 5, Revised, but with appropriate deductions to compensate for the higher treatment cost of such ores. 3. Other, types of uranium-bearin- g ores may be purchased under contracts with individual producers. Terms will depend on the metallugical characteristics of the ores. It is expected that establish- ment of the Edgemont station will materially aid the miners of southwestern South Dakota and northeastern Wyoming in the delivery and sale of their ores, and will stimulate the exploration, development, and production of uranium in this new field. . The Edgemont station will be operated under contract for the Atomic Energy Commission by the American Smelting and Refining Co., which also operates o stations at and Marysvale, Utah, and at Shiprock, New Mexico. ore-buyin- ore-purchasi- g Mon-ticell- |