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Show April 7, 1969 Page 7 OIL & MINING JOURNAL Road closes down oil field ESCALANTE, Utah Oil production was shut down in the Upper Valley field near here last week while officials pondered what to do about an emergency truck weight restriction on 4. About 23 oil tankers a day have been plying the route to Woods Cross, near Salt Lake City, while two have been going to Page, Arizona. All must pass over a 17 mile segment between the oil fields and Henrleville where a 10-tlimitation was placed about a two weeks ago by the Utah Highway Department in an effort to save the badly deteriorating highway. The limit was raised to 20 tons later, but this is still only about of the custom ary truck loadings. U-5- full from that point to their destination, but no other solution seems evident. calante. a British However, oil company officials are doubtful that the limit is feasible for hauling crude oil from the wells to refineries at Woods Cross and Page. ing? U-5- 20-t- first oiled roadway By Chuck Hayward Maybe the answer is to adopt left-hastyle of drivnd California couple Alex and Hildegarde Kostuk of Idyll wild stopped by our office last week to discuss the financial hazards of mining. Mrs. Kostuk inherited a small, family-type mine near Butte, Montana, about 7,000 feet from Anacondas Barclay Pit. They are currently exploring methods of obtaining financing to develop what they feel could be an excellent commercial property. A Stevenson, district engineer of the highway department, said money has been allocated for rebuilding soon. However, construction of the road will take months. W. J. on Park City Mines notes profit mining operations this in 1967. This was equal to a gain of four cents a share compared to a three cent loss the year before. The figures are in the Salt division had a $1,821,319 gross in 1967 and net profit of year and $2,239,070 during of $321,338. $187,698 profit in 1968 yielded a net profit the loss to a of compared $111,735 Comparatively mining firms Lake-base- d just-issue- $129,440. Its resort division had a gross of $760,127, but sustained a loss of $133,640 during the year. This includes provision for depreciation In 1967 the resorf division grossed $511,589 and d producers er mining operations. GROSS INCOME casualty of the 1967-196- 8 Thats right, a cartoonist. copper strike. It was compelled to close for the duration of the strike for loss of smelter outlet for its ores. Annual meeting of the firm will be May 27 at 10 a.m. in sustained a $241,175 loss. United Park City Mines got Room 309 of the Kearns Bldg, into the resort business in 1962 in Salt Lake City. statement of operations. The gain came from the lead-zinc-silv- suggested leasing the property to an operating mining company for a share of the profits, but Alex, as Hildegarde says, is a loner. All those cartoonists are independent souls, she notes. We when metal prices were low. It has since converted some 10,000 acres of its surface land into a resort with primary year-roun- d on skiing. emphasis THE FIRM was an innocent were SALT LAKE CITY-Uni- ted Park City Mines Co. turned a for the every summer Alex fires up a bulldozer and works the property himself. Located on the property are a mill and a small smelter built by Mrs. Kostuks father, but Alexhasnt put them into operation as yet. So nose and treat between three and four million patients each year, the AEC reports, with other applications being made in such areas as the U.S. space program, natural resource conservation, national security, environmental pollution monitoring and control and crime detection. The report, now available to the public, reviews such new developments as a system which allows helicopter pilots to fly Some 250 of the nations largest corporations now use radioisotopes in their manufacturing process, accord- -, lng to an Atomic Energy Commission report. 'Division of Isotopes Development Research and Development Projects 1968, The report, notes also that about 5,000 smaller companies also use radiation techniques. Radioisotopes are used to diag even whqn ores In formation under limited visibility conditions and a tough new construction material made by combining concrete and plastic. mine 22141. A limited number of copies are available throughAEC Headquar-tere- s, Washington, D.C. 20545. Mlne Daveiopmenl . nd exploration : Motor if Orllllnp ' . . Coro OrlllinM V : Fully Obviously, where discharges It is easy to be against this, he told a 'meeting of the . violate water quality standards of.- the states, they cannot be ' permitted. But we are not going to be negative. The ultimate answer, I believe,', ' ..constructive-- ' use . of the waste' ,, - . . . equipped to , ' V ' . Cooperation Assn, at Atlantic.- Use's, '. They may .not be City, recently. Its harder to do applicable in every instance But; they are, r they should be something' constructive. He where used. ;.. added: . - .. Parhor SPO ly. Navada (700) 000-010- v . Avo. MINING COMPANY - . . .41 . 0 ' . - t oil Laka bffiooi ; Caaoado Knorgy . a Malala ISO (OOI) Club Oldfl. south Tampla SOS 0771 K. . T . purchasing; Uranium, Silver. & Copper properties . t OOIO Vnlv. . ' interested in , the trials and tribulattons Involved in gettingonto the, stock - - illustrations wo t market--wi- th .V V. : -- V' - , , . . blow-by-bl- ow possible! We', should .sleek such. , Moadquartorsi ... . - e wherever- Ralalod sorvlooa ''j L.- Were also looking forward to- receiving their promised Account oft . heat of the water National Rural Electric' V ! . them luck. . ' ' . js-.th- . . Over-the-Coun- ter cause thermal pollution and - Cohlmollnii Soryleoo ' What about incorporating, getting SEC clearance and offering their stock for sale on the Market? Thats the route the .Kostuks have decided upon, and we wish . WASHINGTONSecretary of the Interior Walter J. Hickel says the NaUon must think carefully about new guidelines governing the discharge of hot water from electric generating plants. L-2- 08 has located tungsten on the property, and with the prices of all metals going up, open market sales of gold and increasing industrial uses of silver, he is convinced his little Cascade Mining Company can become a highly profitable venture. The problem is the one of obtaining the necessary age-o- ld TID-2482- Hickel eyes 'hot water DRILLING INC. look good, Now Alex 3, The report, is for sale by the Clearinghouse for Federal Scientific and Technical Va. Information, Springfield, Power plant outputs MINERALS ores says Alex, and after Executive Closing Order we were penalized for silver and gold shipped, the copper smelted from the turned a profit for the company, The U.S. firms use radioisotopes WASHINGTON few 8 well. Company officers doubt the feasibility of consolidating their two-thir- ds the 4, to Escalante was constructed in 1958. The damage is all on the north side where the loaded tank-- e rs travel in their westward journey. The right side, on which they travel empty back to the storage tanks, is said to be holding up on on efoudkim loads at Henrleville and running Tenneco Oil Co. started slowing its pumping operations ten days ago after posting of the original signs. All pumps ceased last week as storage facilities near the road became full. The oil is piped from the fields to the roadside facilities. The new 20-tlimit will permit economical hauling of gasoline and refined oil for use in machinery at the Upper Valley fields and also the trucking of miscellaneous products to Es- - Write: Code P. 0. Box 71, Salt Lake City, Utah 84110 P-1- 11 t . t The plight of the Kostuk s is identical that of dozens of others in the mining field promising propertied coupled with a lack of capital. And so we. have the stock market to. . provide the means whereby such speculators .entrepreneurs iAs our economicspro- ' fessor would call themcan obtain the capital ; to make their: dreams a reality, i r . ;-- tOt . , Such entrepreneurs . . -- are the basis of the enterprise system, and even some soc- ialist countries (including Russia) are beginning to realize the important role they play in economic growth. Nothing happens until somebody sells something. free- - . ; |