OCR Text |
Show 4iJu. . Bulk Rale NOl'I-CiRCUL- A YveW' LrLA.r U. S. Postage PAID Salt Lake City, Utah Permit No. 2091 - Vol. 1 September 15, 1969 No. 29 25c per copy Alaska oil lease sale breaks revenue record state of headaches, said state Natural Alaska collected an apparent Resources Commissioner Tom $900,220,590 in bonus lease Kelly, but it's the best bids for a third of its arctic headache weve ever had. The unofficial total averaged North Slope oil fields Wednesday in the biggest such $1,965 an acre. J. Paul Getty and H. L. Hunt, sale of drilling rights in U. S. two of the worlds richest men, history. The total apparent high bids combined with three oil fell $99,779,410 short of the $1 companies to bid $72.2 million lease. It was billion hoped for by state for one 2, e e bid ever for officials. But the money paid by the largest the world's major oil companies oil land in the United ANCHORAGE-T- he 560-acr- per-acr- will provide a desperately needed transfusion for Alaska's frontier economy. State officials were reviewing States-$28,23- 3. Alaska will start drawing $45,000 a day interest on the bid money Thursday after it is flown to bands in New York and other cities by chartered jet. The impact on the state's economy will be felt form Anchorage, the states largest city, to the tiniest the bids and said it would be several hours before the 179 ALASKA RESOURCES COMMISSIONER Thomas E. Kelly stands apparent separate high bids were by board as he closes bids on Alaska oil and gas lease sale. The sale accepted or rejected. This was a a single sale of oil rights, and high bid per acre formality. set two records-f- or village. ($28,233), but still fell short of anticipated $1 billion in revenue. Six Eskimos disappointed. "A lot of us have Alaskans werent S.L. engineer meeting of the Bonneville Kiwanis Club at the University Club, Salt Lake City. Silver recently has been selling at $1.72 to $1.73 an ounce, compared to a high of $2.56 in June, 1968, after the Treasury Department suspended pricepegging at $1.29. In theory, it shouldn't, Arentz says. For the component value of silver in products - whether film or sterling silverware - is relatively small compared to finishedproduct price, Mr. Arentz pointed out. The value of roll of film at current silver ' There is considerable pressure by silver users and product in a 95-ce- nt prices is about one cent, he noted. A setting of sterling silver priced at $87.50 contains less than $9 worth of silver, he said. The major factors in pricing products containing silver is in the manufacture, marketing and sale, he said. sale, North Coast should belong to their people, since they were the first inhabitants of the desolate Arctic Ocean area. The Getty and Hunt interests combined with Amerada-Hes- s Oil Co., Louisiana Land and Exploration Co. and Marathon Oil Co. on their record bid. Getty is a California oil magnate living in England. Hunt is a Dallas, Tex., oil billionaire. Several of his companies were involved in the bid. The state opened bids of 179 tracts of land - about one-third of the stateowned property around Prudhow Bay - where last year the biggest oil fielf on the North American continent was discovered. With 130 of the from Barrow (Continued on Page 4) Fuel propose merger manufacturers for the In a joint statement, John J. Badger, president of Atomic releasing and James L. Robertson, government to continue Fuel Extraction Corporation, silver from the corporations with headquarters in Ogden. Although only two years old, New Products Corporation has Treasury stocks at president of New Products been instrumental in the comparatively low prices, he Corporation, have announced an development of several observed. well-know- n in principal for the products and This Treasury policy does not agreement acquisition of all Atomic Fuel technological advances. The acknowledge inflation and the Extraction assets by New corporation operates in the areas increasing cost of finding, Products. of development and licensing of developing and mining silver Shareholders of the two useful .technical ideas, inventions deposits and reducing silver from companies are being adeed to and innovations. its ore, he said. One recent development of vote on the acquisition of assets One of the first metals to be followed by a complete identified by man, silver bacame TRESS-TREa stand for dissolution of Atomic Fuel especially treasured because of Extraction and storing all Corporation. Boards combing, styling its high luster, malleability and of directors of the both types of hair pieces, which is ease of reduction from some of corporation have agreed in currently being manufactured by its ores. Master Appliances, Inc., of New It was first introduced into principal to the proposal. Both firms are Utah York City. The stands are being coinage in the 6th Century B. C. And for the first time - because of the relatively high intrinsic value of the silver coin-macould readily do business in the neighboring town or country without having to bring along a The Board of Directors of Utah corporation, the directors herd of cattle for exchange. Flico Corporation have noted in a letter to shareholders. The Silver Mines of Larium in announced the acquisition of a There are no royalty payments central Greece were owned by 50 interest in mining claims in or percentages to be paid by the city of Athens and probably Eureka County, Nevada, in the Flico or UJS. Oil & Mining Corp. were a major factor in the heart of the Nevada gold belt'. on the mining claims, the letter Persian Wars. So, too, silver Flico purchased the interest stated. financed Greece's 'Golden Age from U.S. Oil & Mining George Anderson, Flico of art and literature. president, said the property is Corporation, a privately-hel- dwindling the company is E, Does this mean significantly higher product costs? lease contending all oil rights on the New Products, Atomic predicts $3 silver A price of $3 or more an once for silver by 1971 is predicted by Samuel S. Arentz, Salt Lake City consulting mining engineer. Increasing industrial use of silver will force the price increase, he , told a luncheon picketed the n Flico enters d sold by Macys, K-M- Stores, art Woolworths, Kress, J.C. Penney and other national firms. Several other products are completing development but are not yet in the market place. One of these is a sophisticated new concept in on- - and travel that is equally at ease in sand, swamp or snow, off-highwa- y 71us new vehicle combines the Principles of lifting and tractin to make the machine perform equally well in any kind terrain, says Mr. Robertson, as even been successfully tested in quicksand where, instead of digging itself into a Continued on rage 8 ining business located approximately five miles north of the American Mining Company of Canadas Cortez Mine which is reputed to have blocked out the third largest body of gold in the UJS. The property is just south of Carlin, Nevada and the famed (Continued on Page 2) i-- |