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Show The Western Mineral Surrey, Salt Lalce City, Utah Move For Free Domestic Gold Market Gains Backers Continued from Page 1 ury will receive these Progress In Sponge Iron Research at metals for Research coinage. Pointing out- that history has shown how government monopoly of precious metals in other nations has had disastrous consequences on the masses, McCarran said that depriving the individual of his right to possess monetary gold is a blow at the "very roots of our capitalistic system." McCarrans other bill, S. 2514, would guranatee the redemption of currency in gold andor silver at face value, on demand. "This bill," he said, "supplements my Senate Bill S. 13 by advancing a second step toward returning the money system to the people. When the true value of the dollar has become redeemable by reference to its free and open market price, as provided in Senate bill S. 3, thel Congress shall then, under the. provisions ' of this Act, redeem and fix the statutory value of the dollar both in terms of gold and silver, by the process of fix-ing the price at which the Treas session of a coin having intrinsic value, McCarran continued, "You can deprive the masses of that privilege in two ways. - One is by forbidding them to possess the more precious metal and compelling them to use a- - fiat and 'depredating paper money This system exists in most nations of the world, including our own., The second way is by limiting the money of account and legal acceptability to a metal so precious that popular ownership of it becomes impossible. Such would be the-casin this country were the money of account to be based upon platinum or palladium instead of gold. Such was the effect of demonetization of silver throughout the large areas of Asia, where conditions of such poverty exist that the individual ' can hardly hope to save enough from his livelihood to become the possessor of a gold coin." Senator John Bricker (R., Ohio) is chairman of the Federal Reserve subcommittee before which McCarran appeared. Other members indude Senators Wallace F. Bennett (R., Utah), Frederick G. Payne (R., Me.), Barry Goldwater (R., Ariz.), Burnet R. Maybank (D., S.C.), A. Willis Robertson (D.; Va.) and Paul Douglas CD HL). . Industry Atom various times since 1911 on . sponge iron, conducted and resulting just after the dose of World War II in development of iron ore, a method for making a high-graproduct from low-grabunel Mines released a of is reviewed in Bureau tin today by Secretary of the Interior Douglas J McKay. the Sponge iron, defined as metallic product formed by the reduction (removal of combined oxygen) of iron ore or other iron oxides at temperatures below the fusion point of iron," received its name from its porous behavior. Premium-grad- e sponge iron, has Dr. J. R. Van Pelt, director, of been produced in Sweden for about the Montana Bureau of Mines and 40 years... This has been used in Britain and this country for mak- Geology, announces the release by the Bureau of Reprint No. 3, "Raw ing special steels, used in fine Materials Resources of Montana," cutlery and saws. and Uuno M. 'Robertson by Forbes Although various investigators Sahinen of the Montana Bureau of in this country have been inter-- , Mines and Geology; Leon H. Johnested in sponge iron at least since son of the Department of Chemis1864, when the first United States try Research, Montana State Coland patent for a' production process lege, Bozeman, Montana; was issued. Results in the United Harry W. Camp, Jr. of the Forest States have been discouraging, Economics Division, Northern with costs usually high and quality Rocky Mountain Forest and low, the report states. Inability to Range Experiment Station, Mis remove sulfur either occurring in soula, Montana. the ore or. absorbed from the fuel The reprint is part of a symposhas been the greatest obstacle to on Resources for the Chemical ium .high-grad- e iron sponge producing in this country. Industry in the United States, Mountain States, presented Shortage of scrap for use in steel Rocky before the Division of Industrial furnaces during World War H led and Engineering Chemistry at the the bureau to resume study of last meeting of the American sponge iron, production of which Chemical Society held at Los Anrequires neither coking coal nor California. large furnaces. The bureau was geles, able to produce it in idle cement Tins article which appeared in kilns and two solutions to the Industrial and Engineering Chememoval 1953 briefly problem were found. istry,. November, One included limestone, or prefer- describes the geography and geolably dolomite, in the charge when ogy of Montana and proceeds to using coal or char as (he reducing discuss the important locations agent. The other involved using a and characteristics of zinc, copper, high-puriarsenic gas, which took up manganese, antimony, some of the sulfur in the ore, as a bismuth, chromite, cadmium, reducing fuel. germanium, gold, indium, iron, During the investigations, in lead, molybdenum, nickel, platiwhich a number of companies co- num, rare earth minerals, silver, operated, a substantial tonnage of tin, thorium, tungsten, uranium, sponge iron was produced. Sam- vanadium, and coal and other mineral resources as ples sent to' steel companies for testing were used successfully in found in Montana. place of part of the ' scrap ordinarA special section is devoted to ily included in steel - furnace petroleum and natural gas produccharges. of oil fields. InThe report also discusses the tion and location formation is presented concerning use of sponge iron as a chemical their refineries, capacities, and n reagent, notably for the precipita-itioof done at each type refining of metals from solution. . Prepared by Edward P, Barrett, plant. The article also considers in debureau consulting engineer, the report describes the work on sponge tail the states forest and agriculiron done by the Bureau of Mines tural resources. at various times in the past. It alMaps, tables and bibliography so describes processes used or assist to make the article easily proposed in this' country, Sweden readible and understandable.. and Germany, and contains an extensive bibliography and a list of United States patents for production processes issued through April 17, 1951. In addition, it includes an index. Bureau of Mines Bulletin 519, Pro"Sponge Iron and Direct-Iro- n cesses," can be obtained ONLY 'from the Superintendent of Documents, United States Government 22 V4 East 1st South Printing Office, Washington 25, D. C., for $1 a copy. This bulletin is NOT for sale by the Bureau of Power Study from Page de de Continued 1 strong need for the industrial development of atomic power." Throughout the study, he said, the nuclear engineering staff will draw upon the corporations experience in the fields of electrical s. controls and The. staff also will consider the economic engineering and technical aspects of atomic power plants in comparison to other types. Ferguson said that apart from large public utility reactors, Bendix engineers also are interested in the design of relatively mobile reactors capable of producing sufficient horsepower to take over power loads in disaster areas. "When disaster strikes, damaging an areas power supply, rescue operations are greatly hampered until power is restored," he pointed out. "We believe it may be practical to design atomic power plants small enough to set on railroad cars which could be rapidly servo-mechanism- . - transported to disaster areas. . "Such use was suggested by Rep.- - W. Sterling Cole, chairman of the Joint Congressional Committee on Atomic Energy, who cited the possibility, of mobile or floating reactors for disaster areas miliin peacetime or bombed-ou- t tary beachheads in the event of war," Ferguson said. The Bendix president added that such a reactor, if determined to be economically practical, might also be used to furnish power for mining operations or to supply electricity in places where it is impractical to establish permanent electrical generating plants. Atomic power might be particularly useful today at remote military bases, such as Thule, rabove the Arctic Circle in northern (Greenland, " he said.. - sulfur-r- Silver Buckle Adds Uranium Claims In San Juan County . , Resources Of Montana Descril : 1C, 1954. Bendix Starts U. S. Groups Make trol of the money system," and "The basic reason for a bimetalstated, that the American people lic money system is that economic must now decide whether they will freedom begins with right of pos"continue to drift into statism and autocratic control of the means of livelihood or turn their backs on deceptive philosophies in favor of a system of individual freedom and enterprise." April . ty of Midlan, to supply necessary Continued from page 1 equipment and provide for confavorable zone yet found in the tingencies not covered by the San Juan county, and probably in dmea contract under which the the entire Four Comers area. project is being carried out Steens Utex mine', has been in The remaining $10,000 expected production since 1952, and fabulous from the offering will' be devoted ore wogh many millions of, dollars to exploration of Silver Buckles have been proved. Cal Uraniums, vast silver, belt properties adjoinMaterials property was proved by atomic ing the Vulcan mine near Wallace, 'Scrap for consumption (purenergy commission drill work, and Idaho. chases recentzone has plus home scrap producore to the a shaft Underwriters of stock offering in tion) January was 54,000 tons ly been completed. are Standard Securities Corpora11 percent less than in Decemor Drilling at the Hudson property tion, of Spokane, Wash., and Kelber, according to the Bureau of has indicated 12 to 20 feet of ore logg, Idaho; and' Cromer Broker Mines, United States Department of substantially, better grade than age Co., Harrison S. Brothers & the Interior. This, coupled with of is now being mined at the Utex Co., and Whitney Investment Co., in production, of pig iron, decline a mine.. Homestake Mining com- all of Salt Lake City. led to a slight. reduction in invenpany, the nations largest gold tories of thesfe ferrous materials in producer, has taken this property spite of the lowest consumption into its Little Beaver company and (exclusive of strike months) since tunnel plans to drive a 3400-fo' March 1950. from die bottom of the wash' to develop the ore body. Scott said. Silver Buckle had previously acquired two large potential uraShell Oil Company, recent winnium tracts, one covering 1357 ner of five out of six first place acres lying approximately 5V4 awards in the petroleum section miles east and slightly north of of the 2953 National Safety Counthe Utex operations and the other cil contest, was the recipient of area about 7 miles added a 640-acsafety laurels yesterday this i southeast 'of producer, when it was presented the. AmeriPlans-- , for early exploration of can Petroleum Institutes safety Salt Lake City, Utah the companys holdings are being award of honor. formulated and an application to The award, presented by Frank the defense minerals exploration G. Wilson, director of safety and PUBLISHED ONCE EACH WEEK loan is in process of preparation, fire prevention for the A. P. I., Mines. New of Wilson L. Clark Scott said. represents more than' 1,200,000 i Park Mining company, Salt Lake man-houworked throughout the inholds a substantial Late News, Quotations, Information Service, on City, which companys Pacific Coast exploraterest in Silver Buckle, will direct tion and production area without a Mining, OH, Financial the exploration project, he added lost-tim- e aeddent. i . In additibn to the area award, Announcement of the acquisition A wildcat almost of owned came San claims the companys of tiie new burning employees by KEEP POSTED ON THE GREAT URANIUM BOOM simultaneously with the release of Joaquin Division won a gimilar Continental Oil Co. and associates the companys public offering of award for exploration and produc- was shot with 600 pounds of explosive this week, but this failed 1,000,000 shares of common stock tion work totaling more than $3.00 One Year $5.00 Two Years to extihguish the blaze. Hie well accidentrfree hours. at 21Vi cents a share, to net the According to latest available is No. 1 Bell Lake unit, south Lea company $100,000, if the entire block is sold. figures, the company is presently county,. New Mexico. Subscription Order According to the prospectus pre-- j approaching . another million hour j Observers in the field said it - j accident-fre- e a looks like more with of than connection and with the in mark major discovery pared fering, the company plans to alio- - ; 900,000 hours, worked since the 'may be making 609 barrels of oU Enclosed find $ for which send me Western accident in January of and 50 million to 100 million cubic cate $40,000 for exploration of its lost-tim- e feet of gas daily. The company uranium leases. If the DMEA loan this year. Mineral Survey for. r ' itself has not .given out any estiamount of this is approved $30,000 mate the tell of She: ever "Did as the flow, calling it "anyanyone would be needed companys yoi sine ................................ 25 per cent share of exploration how wonderful you are?" bodys guess." ' The wells total depth is 12,616 j "Don't believe they fever costs under the contract. The first j. Address where it hit an unidentified! feet, $50,000 received from the public did., and blew out oh fire to did section lime thel where allocated "Then She: be will get you offering 13. east March the Vindicator idea?. project LX companys . non-metal-lic ; . ferrous -- - . . , Shell Oil. Places High In ot ' Safety Contest . Subscribe Now Western Mineral Survey re rs Fail To Extinguish Burning Oil Well , i . i , i . , i . !: . , , , . a |