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Show z Sliding Scale Import Tax On Lead And Zinc Defended Continued from Page 1 eign sources for these metals is costly and dangerous to nationi al security-In- order to save the domestic mining industry from destruction, ihe bill provides for a sliding jteale stabilization import tax on'tead and zinc. The base price oflead and zinc upon which theax is to be determined is 15. cents, but adjusted periodically, with the Bureau of Labor Statistics index of primary market prices for commodities other han farm and food. Because some imports are needed to supplement domestic production no taxes! apply when the . domestic market price equals or exceeds tjhe adjusted base price of 15clper pound. That means there wwl be no restriction of opportunity for foreign lead and zinc to find a market in this country tothe extent that domestic mines cdnnot take care of the demand. And for the consumer, it mepns protection against shortages and high foreign prices in times of emergency as well as reliaf from the market instability difficulties of recent years. During the emergency period of 1951 and 1952, when leadiand zinc prices were under Government control, the ceiling price of lead reached 19 cents pound and zinc 19' cents. Fo. eign prices were much highert, ranging upwards to some 22 cents or more for 'lead and 31 cents for zinc. Duties on im ports were suspended under a law which provided that the duties should be restored when ever the domestic market pric dropped below 18 cents for 3 Under the Simpson bil daysthe import tax is removed when ever the price of zinc and lea equals or exceeds 15 cents i the domestic market That the provisions of Ute reaSimpson bill are fair and sonable is evident by comparing the base price of 15 cents in the bill with the govemnpnt ceiling prices of 19 and 9 cents per pound for lead and zinc. There has been no reduction in the cost of miniiyg lead and srinn since the controls were Jhave indropped. In fact costsi&ince the creased considerably time when the government ceilat 19 cents ing prices were set cent's for zinc. 19 and lead for American Metal Company, Ltd. has mining (interests in Mexico, South America and Africa. Its only mining operation in the United States is a potash property in New Nlexico. It is what the interesting to notfe e of foreign dumping metals has done to the mines of New Mexico- During March 1952, annual production was at a rate of 6840 ton of recoverable lead and 58 5560 tons of recoverable zin. This is reduced now to an Annual rate of 540 tons of recoverable lead and 9060 tons of recoverable zinc. pr - low-wag- - mineral JTF-StER- N SURVEY East 1st South or (Telephone: 22-2- 4 45 G5 second claw matter at Balt Entered Lake City, Utah, under Act of March 3. rrn for tvo Subscription Rates: S4.00 rears. S2.50 for one year and $1.50 for six months. Please mention Western Mineral Surrey when writing to advertisers. Advertising rates on application. t , May 1, 1953 The Western Mineral Survey, Salt Lake City, Utah M. HILL. Business L. Manager All the news of the development of the Intermountain Section, published by The Western Mineral Surrey. All news appearing In the Westers Survey is obtained from source believed to be reliable, but no responsl-illit- t Im assumed for accuracy of The properties are not operated by marginal companies but include Kennecott, New Jersey Zinc, American Smelting and Refining, Peru Mining and United States Smelting and Refining and Mining Company. As to wages, the Department of Labor reports the average earnings of U. S. lead and zinc miners to be 1.94 an hour for 43 hours a week,' or $83.55 a week, which is in line with earnings of other American workers in comparable occupations- A dispatch from Northern Rhodesia dated Oct. 20, 1952, states: The African Mine Workers Union called its 23,000 members out on strike, today to support demands for a two shillings and eightpence (37c) per shift raise. During negotiations the union rejected a fourpence (5c) per shift raise offered by the companies. The average pay for an African underground worker is four pounds sterling ($11.20) a month plus room and board. American Metal, Ltd., alconcerned with the little though fate of the American miner is most, solicitous for the American consumer as befits a leading custom smelter the bulk of whose production comes from the processing of raw materials received from others. But take a look at the recordBecause of the abnormal demands of the Korean War and rearmament we have been short of copper and were compelled to pay about 50 per cent above the domestic price for foreign supplies. But imports of zinc and lead flooding our markets are pricing many of our mines out of business. For the first six months of 1952, United States mine production of zinc was at the rate of 720,000 tons a year. Consumption of zinc for metal uses and pigments in 1952 is estimated at about 945,000 tons. This indicates a need for some 225,000 tons from outside sources. Approximately 565,000 tons were imported, the result was a price break of 43 per cent. Lead is affected adversely in a similar manner. When our consumers needed lead the metal went elsewhereImports in 1951 were 248,000 tons, but in 1952 an all time high of 615,000 tons of foreign lead poured in to close our mines and cauae unemployment. This is no departure from our past experience in world trade. When a shortage exists in the United States and foreign materials are needed world prices are high. But when production is expanding and a surplus is available, foreign materials from e countries are dumped on our markets to cause distress to our industries and unemploy ment for our workers. Regardless of all of this concern for the consumer, he will not suffer by reason of the provisions of the Simpson bill that assure the continuance of an active and healthy mining industry in the United States. Is it better for him to have some 70 per cent of his lead and zinc available from domestic sources and to supplement the supply from abroad, or to wipe out the major portion of the domestic production and be dependent upon foreign sources for his supplies? The Simpson bill imposes no tax when the price of lead and zinc is 15 cents a pound or more. And as to the (price to the consumer, he will determine it in accordance with supply and demand in the market place rather than have Washington set' the figure. It is not likely that the Amer- . - low-wag- . To Aid Alaskan Chrome Mine U. S. New Methods Used In Ore Search Looking Ahead By GEORGE S. BENSON President Harding College Searcy, Arkansas THE NEW SECRETARY OF INTERIOR PATTERN FOR PUBLIC SERVICE WASHINGTON Twenty years ago the Roosevelt admin. istration recruited an intellectual Brain Trust from among the college professors of the nation. Today the Eisenhower administration recruits its team largely from among the business men. nations be fewer will Obviously there Uranium SEATTLE, Wash. prospectors these days are depending on flower coloration, soil samples and tree bark in addition to geiger counters for clues to the location of the precious radio active ore. This was revealed here by Ernest N. Patty, former dean of . of Alaska. School of Mines, before the West Coast the University Mineral Association meeting at the Seattle Chamber of Commerce. - Patty has extensive The WASHINGTON, D. C. government agreed to underwrite development of an Alaskan chrome ore deposit by the Kenai Chrome Co-- Red Mountain deposit on the Kenai Peninsula near Seward, Alaska. The government will buy 13,000 long s ;ons at $97 a ton. The Defense Materials Procurement Agency, which handled the government end of the contract, said it would advance Kenai 4200,000 for working cap-:t- al and $110,000 for opening the mine and' installing a loading dock and other facilities. When production gets going the company will mine the ore during the summers and ship to Seattle or Tacoma, Wash. Government specifications call for mining interests in Alaska and Yukon Territory. top-flig- ht .Reporting on the recent meetgovernmental theories incubat- ing of the American InstituteAn-of ed and more elbow grease Mining Engineers in Los practicality employed. This is geles, Patty told of the latest gein order, because American gov- ochemical and geobotanical to be 48 ernment is now Americas big- techniques developed to aid the the 13,000 long tons chrome-to-ron radio-activ- e ore cent a with mineralsis six for per search gest business. Its budget ratio of He told of a woman prospectimes the combined budgets of valWorld War II, 6000 Comlocated who During tor successfully U. S. Steel, the Du Pont ore were mined in tons of the ore Interuable uranium and deposits by pany, General Motors same area the but never were of coloration flowers, national Harvesternoting the deto S. because of U. the Rich leaves. new shipped tree bark and Concrete results of the a of lack bein cobalt and zinc loading facilities, posits of lead, policies and practices now DMPA said-A- t uslocated the also been have Idaho established throughout ing present, nearly all the federal government will not, ing this method, he said. chrome used in the U. S. comes chemHe noted also that the however, be seen and felt by from Turkey, South Africa and John Q. Public for a little while. istry of the soil has been found Rhodesia. Southern As Ive been making the rounds to give reliable clues as to the in Washington, interviewing location of minerals. Both processes are tools of key administration people, with the objective of spotlighting the future in ore prospecting, SEC The Securities and Exchange their thinking and planning, I he said. - -l. Amendment have found not one who has completed his executive organization. All have had to spend most of their time up to now getting acquainted with their operations and selecting their first and second level administrative personnel. OLD COMMITMENTS HURT Good management, if achiev- ed, wont be fully reflected in Eisenhower budget the" 1953-5- 4 because the new departmental heads have too many old commitments made by the preceding administration to make good and not enough time for a thorough budget study. The 1954-5- 5 budget should begin to show the pattern of businessman management in government, and in the succeeding two years the full efficiency and economy heralded by the new administration may be properly expected by the American taxpayersA citizen making the rounds in Washington is impressed with two characteristics in the new Eisenhower official family its high level of ability and experience in business operations, and its high level of individual character. Each new appointment to an important governmental position by the President or one of his Cabinet members seems to he based on an extremely rigid requirement in character and proven ability. In the key jobs there are no professional politicians. EXPERIENCE AND CHARACTER Charles E. Wilson, Secretary of Defense, has headed the worlds biggest private business, General Mtors; and the government department he now directs spends about 65 per cent of all Federal funds. George M. Humphrey, the new Treasurer, is ican people will permit an industry essential to national defense and security to be destroyed by the dumping of imports on our markets- If the opponents of the Simpson bill prefer to have prices determined by a Commodity Credit Corporation, or by price supports as is the case for some products of agriculture, that is a possibility. Or perhaps they would rather see quotas, subsidies or some other of the devices in vogue used as a solution? - low-wa- ge has amended its A under the SecuriRegulation ties Act of 1933. This regulations exempts from registration under the Act offerings of securities not in excess of $300,-00- 0 which are made in accordance with the terms and condiThe tions of the regulation. Commission may shorten the waiting period between the filing of the notification and the amendment provides that the commencement of the offering of the securities. Effective date of the amendment is May 17, Commission one of the nations leading dustrialists and financiers, and has a vast experience in big Sinclair' Weeks, operations. in- Commerce Secretary, is another industrialist and fia recognized authority nancier, on problems affecting business top-flig- ht . and commerceArthur E. Summerfield, the new .Postmaster General, diannual busirecting a was the countrys bigness, gest individual automobile dealer. Secretary of Interior Doug- $20-billi- on las McKay is a highly success- 1953. ful business man. Joseph Dodge, the new Budget Director, is one of America's leading bankers. Secretary Benson knows agriculture from the bottom up, is counted among the worlds leading agricultural economists. In addition to having reached the top in their chosen fields of enterprise, all these men have distinguished records of community and public service; and, most important, I think, they are lifelong churchmen. - COLTON , CONSISTENT RULE This same principle is followed at the secondary level, as illustrated when President Eisen hower filled a vacancy on the highly important Civil Aeronautics Board. He appointed Col Harmar D. Denny, Jr., an outstanding authority on all phases of aviation and aviation com meice. Colonel Denny served on the Interstate Commerce Continued from Page a dark, bluish-gre- y 1 color, fairly in places, and of the The massive type in others. thin-bedd- ed formation contains fresh-wate- r cup corals, portions of marine organic life from which crude oil is believed to' have evolved during past periods of the Snake River Basins prehistoric record. ) The company headed by Mr. Ben H. Bullock, president of Provo, Utah, intends to drill three (3) other wells in the area during the summer of 1953. Drill pipe obtained from Casper, Wyoming and Salt Lake City, Utah, is already on the ground at the next test site selected about 2 miles south of the present drilling but in adjoining Bonneville County. This location is nw of nw section 2, 3, township north, range , Committee of Congress and was Boise Meridian- a member of its which considered legislation af- 38-ea- st sub-committ- ee fecting the CAB. During the first World War he was a bomber pilot In World War II, he was Air Inspector in the Graduate Cbmmand and General Staff School in Kansas. He was relied upon in Congress Colofor his aviation nel Denny is one of the leading laymen of the Presbyterian Church; is a member of the Na tional Executive Board, of, the know-how- Boy Scouts of America; is' an member of the American . Legion, and severa other nationwide service and fraternal He organizations. and brings experience integrity into public service an inspiring influential combination. Legal Notice NOTICE OF ASSESSMENT NEW qUINCET MINING COMPANY, a Utah Corporation, Principal place of busi-ne420 Felt Building, Balt Lake City, Utah. Notice U hereby given that at a meeting of the Board of Directors, held April 17, 1953, an assessment of one (1) cent per share on all outstanding stock of the Corporation, was levied, payable Immediately to the Secretary, Glen I. Crandall, 420 Felt Building, Balt Lake City, Utah. Any stock on which this assessment remains unpaid on the twenty-secon- d (22nd) day of May, 1953, will be delinquent and advertised for tale at public auction, and unless payment Is made before, It will be sold at the office of the Company, Room 420 Felt Building, on the sixteenth (16th) day of June, 1953, at the hour of 2:00 p.m. of said day, to pay the delinquent assessment together with the cost of advertising and expend of the sale. GLEN L CRANDALL, w, Secretary New Qulncey Mining Company, 420 Felt Building, Salt Lake City, Utah. |