OCR Text |
Show July 14, 1969 OIL & MINING JOURNAL Page 6 chuckin so VEDCO, Wahwah Mines in merger A merger between VEDCO few Engineering (Valley Development Co.), a ... By Chuck Hayward & Utah-base- d AIRLINE RESERVATIONS Despite the fact we wear a beard and have what is no doubt an over-larg- e helping of independence in our makeup, weve never considered ourselves particularly sort of dirt radical, reactionary, far left or far right-ju- st homo the road middle Midwestern of common sapien comonus and general all around taxpayer. law-abidi- ng (ours ive iravel v Leading TravdSbtcialisti f if AIR RAVEL TICKETS STEAMSHIP TICKETS WORLDWIDE TOURS RESERVATIONS if if if if "One Call Does We have the tendency of the average man to get fed up with spiraling interest rates, skyrocketing living costs and escalating taxes. On the other hand we dont relish the idea Did of stripping the nation's economic gears by shoving tha transmission into reverse for a roller coaster ride to the bottom of the graph, either. Like most people we re taking a attitude to the quiet that has descended like a pall of gloom on the nations stock exchanges and even extended to the perpetually active penny market. 487-173- It AlP 1 1325 S. Main (Valley Bank) 84115 wait-and-s- ee TELEPHONE ANSWERING huy better aait with a laaftr geereelee end Hr Ian meeer thaa aari. FIU tryeets welceewd. Priced fraai Ym We're not seriously worried about the state of health oi the American economy because weve seen too much evidence of our strength and productive capacity. We do sympathize with the attitude of many who operate on a higher financial level than Enid and 1 with our large mortgage, nine children and an embryo business to support. Tax reforms, threats against minerals depletion allowances, increases in the federal reserve rate and the general policy of economic slowdown of the Administration have left many people wondering exactly which way to turn. With a moderate amount of inflation as we've had in the past, mutual funds and other growth securities have served as an effective hedge against erosion of the dollar's buying power. As inflation pressures expanded, however speculative stocks took the place of growth stocks as a means of keeping ahead. Today, however, all signs point to a determination by the Administration to crack the whip on economic excesses and rebuild the image of the American dollar. We dont feel, however that the Inflation psychology is that easily dispersed from the American scene or even sure that a complete reversal is desirable. It must be remembered that inflation psychology is just a derogatory term for growth optimian and faith in the future. Lets not lose that, for lint hr SIM as. ASSOCIATED ELECTRONIC ENOS. IIMLMia. UUnt Salt Uka City. Stab For example (on the market): Optimism will follow as as pessimism day follows night. His therory is to surely sell during periods of popular optimian; buy during popular pessimism. Production on the claims is expected to start at the South Side Mine, a high-grad- e silver-lea- d property, and the Tasso Mine, within 90 days, Boswell said. Present plans call for stockpiling of the ores until a mill can be installed on the property, Boswell said. The trade took place for an exchange of stock and an undisclosed amount of cash, and Vedco took over the outstanding debts of Wahwah. Wahwah was incorporated in 1929, and was in production up to 1949 when the president, James Dugdale died. No production has taken place on the property, which was owned by the widow, since that time, Mr. Boswell said. Holes Barred RICHFIELD, exploration of a vast area of southern Utah in an effort to Utah-Seis- mic locate oil has begun by a Shell Oil Co. crew headquartered here, according to the Salt Lake Minerals Drilling, Inc., Tribune.Sevesta, supervisor of the Roy is on crew, told the Tribune that work now is under way near Kanosh, your hole drilling pro- Millard County, with drilling it is planned to work eastward and wherever it is . . . toward Richfield. And come up with an Other areas surrounding Richfield will be included in the answer. oil search, which will continue What is your problem? Core for at least a year, Mr. Sevesta ready to take blem, whatever sample drilling? Wireline diamond drilling? Founda- Whatever it is, call in Minerals Drilling, Inc. They can not youth. nc Shell hunts Utah oil Were far from being economic advisers, but weve always heard that the way to be successful in business is to buy when he visited Salt Lake City recently. Mr. Southard is just 35, but his aphorisms spell maturity, silver-lead-zi- No tion and rock drilling? Petrographic analysis? James Southard, vice president and technical analyst for Blair & Co., nationwide brokerage, said the same thing a director and consulting geologist, Boswell announced. The property entering the company by virtue of the Wahwah merger consists of 22 patented claims and 17 filed claims in the Pine Grove Mining District of Beaver County, Utah, Boswell said. He said all the claims are adjacent to each other and located on 800 acres of land in the Pine Grove District w. The claims were core drilled by the Bureau of Mines in 1946, Boswell said, and 79,000 tons of ore were blocked out at that time. saiai Heavens sake! low and sell high. corporation, and Wahwah Mines of Salt Lake City, Utah, has been approved by officers and stockholders of VEDCO. The new corporation will be known as Vedco Wahwah Mines, according to Dick Boswell, formerly president of V dco who will serve as president of the new company. Boswell said the merger will take place on the basis of 10 shares of Wahwah Mines for one of Vedco. James A. Marsh, former president of Wahwah Mines, will remain with the new company as handle your whole-borin- g requirement. No holes barred. No matter where it is. Minerals Drilling, Inc., operates on a national and expanding international scale. Their equipment, experience, said. We will be operating seven or eight drills throughout this area during exploration work, he stated. Sevesta added that additional equipment will be brought in from Green River, Utah to assist in the exploration work. Oil exploration in the Millard County area has stepped up in recent months following several solid finds in the general region. Thirty two Shell Oil Co. employees along with their families have moved to Richfield to participate in the search. Cerro Corp. gets gold claims BATTLE MOUNTAIN, Ncv.-Bat- tle Mountain Associates has announced that Cerro Corporation has taken an option on its gold claims in Iowa Canyon near Austin, according to the Territorial Enterprise of Winnemucca. Cerro was also reported to have taken options on the nearby gold claims of Orval and Don Smith of Battle Mountain. Involved are 84 claims in an area described hot spots the along Northern Nevada gold belt. ex- pertise, personnel and knowhow are at your disposal. Call Minerals Drilling,' Inc. Check With Us For Heavy Duty Mining Equipmentws Mr. Southard has written a book which presents his views, called The Wealth Seekers Guide, to be published this fall by Prentice Hall. We plan to buy a copy if we get the dentist's bill paid by then. Because Mr. Southard agrees with us, that when things are gloomy that.s the time to he optimisticRemember when youre down and out the only way is up..." New Used AUSTIN-WESTER- Minerals Drilling, Inc. OFFICES: One last quote from Mr. Southard who was asked Who makes the most money on the market? His answer: foreignors! Americans are so used to prosperity that when there.s a little trouble, they think were going to pieces. Most foreigners can see how really strong we are. 2050 University Club Building 136 East South Temple Salt Lake City, Utah 84111 370 Parker Avenue Ely, Nevada 89301 (702) 2227 River Road Missoula. Montana 59801 (406) 289-212- 6 549-462- 2 by TRUCK MOUNTED CRANE & N 23,950 1967 Model 410-P- , 122-to- n capacity hydraulic crane, 25 hyd. teleicopic beam. Ford MD240 gas engine, mounted on GM 5500 series tandem axle truck with gat engine, Allison power shift flotation transmission, duplex high tires, power steering & hydraulic outriggers. Excellent condition. V-- 6 Also available for lease or rental. WESTERN ROAD 2300 SO. MAIN, the U.S.Geological Survey as one of R ITT IF MACHINERYUaCOMPANY SALT LAKE CITY, UTAH 486-208- 5 the |