OCR Text |
Show Page 2 Rocky Mtn. OIL & MINING JOURNAL Published weekly In Salt Lake City, Utah by Utah Scene Publishing Co., 4386 W. 3780 South, Salt L ake City, Utah 84120. Mailing address: P.O. Box 19243, Salt Lake City, Utah 84119. Serving the mining and oil Industries of the Rocky Mountain Region. Articles and Information contained herein are true and factual to the best knowledge of the publisher. Information and opinions published are the sole responsibility of the publisher and do not reflect the attitudes or opinions of the merchants, brokers, corp- orations and service firms who advertise herein or otherwise sponsor this publication. 25$ per copy Subscriptions $10 per year col. inch $2 for 20 wds $2 r Editor & Publisher Chuck Hayward Enid J Hayward EDITORIAL John L. Lewis put a spark of light in the coal black future of thousands of miners In the soot-gri- m company towns and backwoods hollows. labor giant with In his time, the unsmiling, bushy-hairthe leonine head and shoulders like feed sacks, was called a dictator. He was accused of stopping a nation In Its tracks. He said, the nations coal is stained with blood. Now John Llewellyn Lewis is dead. He died Wednesday night at Doctors hospital where he was admitted Sunday night suffering from Internal bleeding. He was 89. was Organize His last word to a reporter five years ago Mine Workers United the same language he used in leading the Union and founding the CIO. Harry Bridges, another seminal labor figure and boss of the longshoremans union, said about Lewis: He wrote history in words, deeds and action. Ive never seen his equal yet, and I dont expect to live long enough to do so. Lewis could be mean. As a youth in the mines he was kicked by a mule. He brained the mule with a sprang, the wooden brake lever of a coal car. In 1935 he decked an AFL leader at a union convention with one punch. But the leader of the United Mine Workers for 40 years and moving force in the drive to organize the nations unskilled workers could also be eloquent and ironic. In 1949 he told a Senate committee on mine safety that 1,259,081 miners had been killed in the mines since 1930. To ram this home, he said: If I had the powers of Merlin, I would march that million and a quarter men past the Congress of the United States the quick and the dead. I would have the ambulatory injured drag the dead after ed . . trailing their bowels. I would have the concourse flanked by five weeping members of each mans family, six and a quarter million people, wailing and lamenting. When President Franklin Delano Roosevelt refused to support his bid to organize steel workers, Lewis scowled mightily It ill behooves anyone who has supped at Labors table and who has been sheltered in labors house to curse with equal ferver . . . both labor and its adversaries when they become locked in deadly embrace. Lewis contributions to labor were two-fol- d. He fused scores of scattered, ineffective miners locals around the nation into a 400,000-memb- er phalanx under his leadership and dealt with miners woes and hopes on an industrywide basis. This led to their first pensions, their own hospitals, quintupled wages, and underground travel pay the length of the mint corridor. He once said of his miners, I am their agent. The; pay my salary. They keep me in good clothes. They buy me cigars. I work for them. I expect to continue. Twice he was held in contempt of federal court for ignoring orders to end major strikes. He and his union were fined $2.1 million. In those days a strike by coal miners meant much idleness in related industry, some electric power brownouts, and the stopping of trains. Yet Lewis agreed to automation in the mines and the resulting loss of jobs shortly after World War II, saying It is better to have a half million men working at good wages and high standards of living than to have a million working in poverty and degradation. Lewis knew his share about mines. He was born in Lucas, Iowa, the son of a Welsh coal miner. His mother came from a Welsh mining family. He quit school at 12 and went into the coal pit. All coal miners in the United States and Canada were directed to stop work beginning Friday to mourn the former United Mine Worker president. UMW president W. A. Tony" Boyle said the layoff shoud continue until after Lewis funeral for which no date was immediately announced. CHICAGO BRIDGE & IRON CO. ROBERT M. PHELPS, Manager Phone 484-65- 5 O-T-- margain buying C The Federal Reserve Board slammed the door Sunday on stock brokers who use Swiss bank accounts to evade margin restrictions on buying se -WASHINGTON curlties on credit. The action came as part of an overall tightening of regulations governing the sale of stocks on credit, Federal Reserve spokesmen said. The regulations were proposed In February. A final list of stocks to be covered new the rules will be pubby lished July 8. stocks are not on the nalisted securities tions seven major stock exchanges. Stocks that are listed have been subject to margin re so-call- ed ter over-the-coun- Phone: 298 2403 or 298 3703 Circulation Manager FRB cuts over-the-coun- Advertising rates: Display Advertising Classified Advertising them . June 16, 1969 OIL & MINING JOURNAL f . 550 WEST 17Hi SOUTH Over-the-coun- ter retailing broker. ordered. Under the new regulations, only One of the new regulations restricts the availability of the ed omnibus accounts to brokers who want to evade the margin limits on brokers who are registered with the Securities and Exchange Commission as wholesalers or firms with memberships on stock so-call- over-the-coun- securities. exchanges can use omnibus counts. ter were tightened The ac- regulations The new regulations also exafter congressional hearings last tend the limitations to cover all year showed that some brokers brokers who deal in were using Swiss bank accounts to deal in items securwhich sell firms through ities in wholesale lots. Omnibus accounts are used by firms who buy stocks in wholesale lots for resale to firms that deal directly with the public. Until now, these accounts were over-the-coun- over-the-coun- ter stocks and tightens contorts on margin credit given to mutual funds. The rules also exempt bank credit to brokers when the loans are used to develop a market for a given stock, the announcement said. ter Decision upheld on mine claims SALT LAKE CITY-- A mining laws, and the land decision by the Bureau of Land embraced within each of the Management that seven mining contested mining claims is claims of Nighthawk Uranium nonmineral in character and not Inc. are invalid has been upheld subject to acquisition under the by the BLM Office of Hearing mining laws. Examiners. The BLM Utah state director Robert W. Mesch, hearing Each of concluded, examiner, challenged the validity of the the contested mining claims is lode mining claims February 15, not supported by a valid 1967. Nighthawk Uranium discovery of a valuable mineral denied the allegations and a deposit as required by the hearing was held April 1, 1969 in Salt Lake City. At the hearing Uranium Nighthawk representatives offered no evidence. The hearing examiners decision becomes final unless an appeal is filed within 30 days. Thomas J. Carter, 1757 Mountain View Dr., Salt Lake City, is listed as president of Nighthawk Uranium Inc. The claims are in San Juan County. Classic joins in wildcat oil well Paul secretary of Corbett, Classic Mining Corp., an intrastate Utah corporation, told stockholders this week that the company has purchased a percent interest in a wildcat oil well. 22-- 12 to be known as No. One, will be drilled in Wayne County, Utah, Mr. Corbett said. Drilling will be commenced this week. Corbett said the corporation has an option to participate to The well, Classic-Whitn- ey the same extent in the development of additional wells in the same field which consists of 14,000 acres. He said the corporation would exercise the op- tion in the event the first well proves successful. FTC gives nod to coal firm merger Conceding in action might hurt the Federal Trade tentatively approved to consolidate two soft-co- al companies. large The action came on a request by Giant Occidental Petroleum Corp. for its subsidiary, Island WASHINGTON advance its competition, Commission a proposal Boyles Bros. Drilling Co. CONDUCTING Creek Coal Co., to be allowed is allowed. to buy Maust Coal and Coke Corp., a competing bituminous But two commissioners, Phillip Elman and Mary Gardiner Jones, in a joint dissenting state- producer. divided FTC gave the ment, challenged the action on for the acquisition under grounds the decision was made the failing company doctrine, on the basis of insufficient incontending bankruptcy is immin- formation, largely supplied by ent for Maust unless the merger Occidental. A go-ahe- ad WESTERN STEEL SERVICE CENTER SERVICES COMPLETE WAREHOUSE SERVICE Exploration Mbit Developing All Types & Sizes of STRUCTURAL STEEL Rotary Drilling Shafts Grouting Engineering Coro Drilling Tunnels BARS Soil A REINFORCING STEEL Sampling Geology General Offices: 1624 Pioneer Road Salt Lake City, Utah 84104 801: 487-367- - PLATES - SHOTS OFFICES - Crandall Bldg. PLANTS -- 651 West 17:hSo. Salt Lake City, Utah 1 District Offices: RHONE 328-05- 41 P.O. Boi 9S7S Phoanix, Arix. K020 P.O. lax 144 Sparki, Navada P.O. Box HI Axbxni, Calif. P.O. Box 4M7 Spokaaa, Walk. Western Steel Cohpjhv P.O. Box 7445 Loulivilla, Ky. "'pafacatore of StutcturuU Steel fSGO) ISMS W. Ifh Ay. CoJdan, Cole. Mil. 99202 40207 10401 Foreign Offices: Reform 403-110- 4 Maxico City 5 D.F. Caiilla 21-Caiilla 1144 Ckila Lima, Para Saaitago, D P. O. Box 687 - Salt Lake City, Utah ter exempt as long as the margin requirements were met by the quirements forcing a buyer to put up 80 percent of the price of the stock at the time it Is ALSO FABRICATORS OF PLATE AND RBNFORCING STB9L STm ERECTION A RIGGING Building the WEST with WESTERN STEEL |