| OCR Text |
Show must mine waste dumps, U S. Vmi? OfflDDy 0 RICHARD Dear Mr. Blackburn: I have read that if you are plan approved by the I.R.S. that money away for retirement and from income to reduce taxes. information on this? Name withheld self-employ- ed BLACKBURN there is a allows you to put deduct that money Do you have any on request. Dear Sir: Yes, a law was passed by Congress a few years ago that made possible a tax shelter for the Ask any stockbroker or insurance salesman to tell you about the Keogh plans he has available. If you wish, send me a long, stamped envelope and I will mail you a folder that completely describes the procedure. The law allows you to buy stocks, insurance, mutual fund, government bonds, bank and even rare coins and stamps, as tax deductions. They, of course, must be placed into the hands of a custodian so that you dont spend them before retirement age (59J4 to 70 years of age). Not only are they a tax deduction, but all profits, capital gains, are tax-fre- e until you retire. Then you must pay the tax assumed that your tax bracket on retirement is but it is much lower. self-employe- d. self-addresse- d, time-deposit- s, Dear Mr. Blackburn: I realize that it is a good time to buy stocks but I find it difficult to do so with so much negative talk going around in the financial circles. If I decide to take the plunge, would you have any suggestions as to which issues I should buy. Name withheld on request. Dear Sir: This column cannot make blanket recommendations. Please ask your banker or stockbroker for his opinion. You might ask him what he thinks about silver stocks (the demand continues to outrace the' supply) and stocks of companies involved in Californian and Hawaiian land (Castle and Cooke, Dillingham, Hawaii Corp, etc.). As the jumbo jets take bigger and bigger loads to Hawaii on shorter and cheaper rides, there should be a real boom in values over there Dear Mrs. Blackburn: My son will soon graduate from college and I would like to see him become involved in the world of economics. What book would you recommend I get for him to whet his appetite? Jack Sigler. First your son should talk with the school designated official to discuss aptitudes. This person can also direct him to good literature. Your local book store also has several books on the stock market but most of them are how to pic winners types. Probably the best booklet is issued by the New York Stock Exchange, It is titled Your career As A Stockbroker. 1 believe it is free. Just write: N.Y.S.E., New York, N.Y. Dear Mr. Blackburn: Ibought stock last year that has gone way down and Im not sure whether I should just hold on (because I still have faith that it is a good company) or whether I should buy some more as my broker suggests. Both my husband and I enjoy your column and would appreciate any comments you would like to make. If you print this letter, please omit our name. Frequently the price of a security will go down for no reason other than general market declines. If the company you have invested in still has good potential, then you should consider buying more to reduce your dollar-cost-averagin- l cost. Walter Hibbard, former director of the U.S. Bureau of Mines mentioned the possibility that the tuture ores of America lay in its dumps. It was not entirely a fanciful speculation. The Salt Lake Metallurgy Research Center of the U.S. Bureau of Mines has come out with a study showing Karl C. Dean and Jbseph W. Sterner. The two researchers rounded up IS automobiles manufactured between 1954 and converted into profitable scrap for the metals processors. The study says you can get an annual return of 19 per cent by burning the cars in a smokeless incinerator and hand dismantling the car into its various metal components. The study was by the centers Cost evaluation showed that processing the composite car would cost about $51 and produce about $56 worth of This is sometimes called g. Historically this procedure has worked very well with mutual funds. It can also work with a good stock. I have a folder describing the idea in detail. If you would like a copy, send me a long, self-address- ed DENVER Earth pounds of lead. $56,620 a year. the capital requirement, of course, may be alot higher than a typical scrap yard can meet. Burning in the open is certainly in these days a lot cheaper-bu- t of environmental consciousness, marketable ferrous and metal products. Of course, setting up would non-ferro- us capital require some$345,000 for a lot less popular. investment-abou- t superintendent of the companys Cripple Creek coal mine in Fairbanks, Alaska, has been proceeding with phase two fo the development of their New Mexico copper property located appointed mine superintendent at the New Mexico operation. northwest of Albuquerque, according to William senior vice B. Earth Resources Companys common stock is listed on the American and the Pacific Coast Stock Exchanges. The company Hall, president of the firm. Denver-base- d The company is presently engaged in preliminary site preparation work including the building of roads and outlining the pit for an open pit mining operation.is Earth moving machinery being ordered for in May at which time delivery , the removal of overburden will specifications for the 3000 tpd mill to be constructed at the site. Final of mill-will the begin about August of this year with completion and the start of milling operations to commence in late summer of 1971. C. E. McGuire, formerly is engaged in exploration for strategic minerals including uranium, gold, silver, copper and mercury. The company also owns Delta Refining Co. which operates a 30 thousand barrels per day refinery at Memphis, Tenn. stage-constructi- Alaska mining reports available Some 140 reports open-fil- e and maps pertaining to Subject matter includes maps of various Alaskan prepared over the past specific areas; gravity maps; stream-sedimesampling Alaska, years by the U.S. Geological Survey, have been indexed and made available to the public by the Mackay and other more quadrangles immediate future. The material is made available to the public for consulation at various U.S. Geological Survey and mineral industry centers throughout the country. The Alaska material at the Mackay studied at the library, circulated on loan, or copied at private expense. Report holdings for the are years 1944-- 1 9 66 but may locally, incomplete be reproduced on order exchange. and maps relacscd Reports arc 1967 since complete with few exceptions. An index is maintained with the interlibrary through (1944) to Petroleum Potential of the Kandik (1969). File material is form of written reports, black and white both. or SECURITIES DEALERS INSURANCE COMPANIES & FUTURE NASD REPRESENTATIVES 2 NASD PRINCIPAL'S CLASSES FRIDAY, SATURDAY, a combination of SUNDAY February 20, 21, 22 OR March 20, 21, 22 ALSO 2 NASD and UTAH STATE REPRESENTATIVE CLASSES FRIDAY, SATURDAY. SUNDAY, MONDAY Feb. 27, 28, Mar. 1, 2 (Monday is a repeat of Sunday) OR MONDAY, TUESDAY, WEDNESDAY Mar. 30, 31, April 1 - te Content of the Alaska file Fluorite reserves ranges from Lost River Tin Mine at the in the included. ATTENTION was announced in final form in the certain regions are also nt School of Mines library, University of Nevada, Reno, it by Dr. Vernon E. Scheld, dean. material includes Open-fil- e the unpublished results of field studies which are not schedulted for publication, or which will not be published results; magnetic surveys; and geochemical and. hydrological studies. Rock analyses, isopach maps, and fault studies of geologic and mineral resource geological, geochemical, and mineral resources studies of maps, V? component, the profit, on investment is reckoned at has announced they are Basin Continued on Page 7) 51 Assuming the yard processes 48 cars a day and assembles the Resources file. Dear Mr. Bldckbum: Now that the stock market is so low, I would assume that this might be a good time to buy call options. Would you have any particular good ones to recommen?Jim Huston average junker would yield about 2, 532 pounds of steel, 511 pounds of cast iron, 32 pounds of copper, 54 pounds of Earth Resources in Phase II of New Mexico operation up-to-da- stamped envelope. such as baler, alligator shear, conveyor, incinerator, land etc. Total annual operating cost-wit- h depreciation-i- s figured at about $614,900 with annual revenue of $671,280. 19 56. After burning and dismantling, they figured an how junker cars can be zinc and School of Mines may be Dear Madame: over-al- aide says ex-BuMin- es 25 Dear Mr. Sigler: I FEBRUARY 16r 1970 OIL & MINING JOURNAL Page 6 ALL CLASSES 9 A.M. 5 P.M. RAMADA INN 1000 S. State St, Salt Lake City RESULTS GUARANTEED Write: INVESTMENT SECURITIES SCHOOL 710 East Speer Boulevard Denver, Colorado 80203 Phone: (Collect) 303 744-71- 37 |
