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Show OIL Star Dust Mines building new Texas motel 0B0my RKHARD AMARILLO, Tex. motel here, part of Dear Mr. Blackburn: My neighbor Is a stockbroker and he has complained to me lately thaf his commissions are much lower than last year because of, the bear market, low volume on the stock exchange, and because the firm where he works has cut out some of the commissions he used to get. - union member so I suggested he organize to get more money. He says that in his profession that is a forbidden subject. Hdw'can this be the case? JJLK. DnirSirr'i ..I .. . Globe Minerals, Inc., Salt Lake Gty, has announced the acquisition of 50 interest in a 9,000 foot test well being drilled in the Uintah Basin of Utah. The test has been designated as the Mona da State No. 1 Well, located in Uintah County. at Goodbodys Detroit office were given the green light by the National Labor Relations Board to conduct a secret election to vote on forming a securities salesmens union. Homblower & Weeks, one of the nations largest , was also involved. The test well is on a 3,500 acre lease block in which Globe is also acquiring 50 interest A friend of mine brags about his success using puts and calls." Would you please explain in simple language. Dave Linn. Keith named y I". He is branch manager of the Salt Lake City office at 68 S. A new map of the industrial minerals of Utah has been released by the Utah Geological and Mineralogical Survey. Prepared by Hellmut Doelling, economic geologist of a 100-un- garden type it complex, a apartment convalescent home and two service stations. . It is particularly interesting to note that at no time is your possible loss greater than the cost of your Option Contract. I have a few folders explaining put and call options. If any of self-address- ed : WASHINGTON Beryllium and tin deposits of the Central York Mountains of Alaska are described in a recently published report by the U.S. Geological Survey, Department of the Interior. Based on geologic mapping and sampling done in 196CL64, the report describes the geology and ore deposits of some 400 square miles near the western tip of the Seward Peninsula. In addition to descriptions of the rocks and ore deposits, and specific suggestions for prospecting and exploration for additional beryllium and tin deposits, the new report contains a colored geologic map of the area, at a scale of 1 inch equals 1 mile, showing distribution of rock types, geologic structures and known veins andjnineral prospects. Also included are large-scal- e geologic maps of four individual and tin deposits. Geology and Ore the Central York of Deposits -- Continued on Plage 7 from Monada Petroleum Corp. of Salt Lake City. Globe has been designated as the operator and will immediately assume control of drilling operations. It was reported by A1 T. hays, president of Globe Minerals, that the Monada State No. 1 Well is drilling at approximately 3,400 feet and is scheduled to test the Greenriver formation at approximately. 9, 000 feet. Drilling in eastern activity Utah's Uintah Basin has increased sharply since Chevron Oil Co. discovered the Bluebell Oil Field two years ago, which produces from the Greenriver formation. The State of Utah Division of Oil & Gas Conservation reports that 17 rigs are now drilling in the Uintah Basin. Main. The company specializes in securities and corporate underwritings. A graduate of the University of Utah, Mr. Cannon holds over-the-count- er degrees in journalism and business. served as a newspaper and magazine reporter and was an account executive with a Salt Lake City advertising agency before entering securities He where industrial minerals may be found in the state, whether the sites are developed or not and whether actively producing. The map, printed in color, is 11 inches by 16 inches with descriptive summaries of each locality printed on the back. Copies may be obtained at the Utah Geological Survey, 103 Utah Geological Survey Bldg., University of Utah, Salt Lake City, Utah 84112, for 35 cents or 50 cents prepaid. Mail orders should include the price of the map with the order. Report features Alaska beryllium, tin In that period, suppose XYZ climbs to 82. You could exercise your right, to buy 100 shares at 70 from the endorser of the Contract (a member firm of the New York Stock Exchange) and immediately sell it in the open market at 82 for a profit of $1200.00 less $400.00 as the price of the Contract and usual brokerage commissions and taxes. If your judgment is wrong and XYZ drops to 50, your loss is limited to $400.00, the price of the Call Option, whereas an outright owner of the stock would have a paper loss of $2,000.00 and the possibility offurther decline. our readers iwould : be interested, please send a stamped envelope for a copy. 1L the Survey, the map shows writer knows of many investors who bought Levin Townsend Computer Corp at 43 when they announced they had bought the Bonanza Hotel in Las Vegas. As I write this column that stock is trading at $7.00 per share. How much better off those investors would have been with a call option that tj limited their loss i developments in the Duniven Lake area since the merger of the Star Dust Mines, Inc. of Announced plans also include Utah minerals map now available This p er Corp. European investors, large and small, have been using Stock Options in security markets for 100 years and longer ever since such markets were first organized. In this country, however, the mnk and file investor until recently has avoided the use of Put and Call Contract Options which he regards as a specialized and complicated technique. Consider the speculative possibility first. Let us assume you feel the XYZ is low priced at $70.00 a share and that it could advance to $85,000 a share in three months To buy 100 shares under current margin rules would require a considerable cas outlay. Unwilling to tie up this amount of cash and take the market risk that such a commitment involves, you buy a Call . Option for $400.00 giving you the right to buy 100 shares at 70 i. within 90 days. Cannon has been and a of Aztec Securities A. secretary-treasur- director Dear Mr. Linn: Actually, there is nothing either mysterious or difficult to understand about a Stock Option. Essentially, it is a contract, par'd for in advance, in which the holder has the right to buy (in the case of a Gall Contract ) or sell (in the case of a Put Contract) a specified number of shares (generally 100) at a fixed price (normally the market price at the time the Contract is made) at any time within the period covered by the contmct (usually 60,. 90 days, of 6 months). ; motels are the first Cannon joins Aztec Securities board Dear Mr. Blackburn: y dollar development project. by Star Dust Mines, Inc. of Amarillo. Royal kins of America, Inc., of San Diego, will be its own contractor on the project which is expected to be completed in six to eight months. The motel The merger was announced in February and will include the development of more than 100 acres around the lake. Globe acquires interest in Utah well - i Times are changing, however, as brokers ; a include an outside pool with dressing rooms and sauna baths. The four buildings of the motel will contain 60,724 square feet of space. A $350,000 permit was earlier issued for Motel 6 . The two Amarillo and the Sierra Trading Corp. of Denver. . yL w0uId guess it is purely psychological on the part of the individual Most stockbrokers consider themselves as independent professionals and as a result don t group together to demand their rights. Usually the firms top partners control the staff so well that no attempt is made by the low level employees to correct any injustices. t . multi-millio- n '(lm a OvrivmY will have 104 rooms and. will A $500,000 building permit has been issued for a Royal Inn ' fkO'r.! 0 Bl BLACKBURN April 20, 1970 UrniHB JOURNAL Titled Mountains, WEstern Seward Peninsula, Alaska, by C.L Sainsbury, the 101 page report is published as U.& Geological Survey Bulletin 1287. It can be obtained for $3 a copy from the -- Superintendent of Documents (GPO Catalog No. 1:19.3:1287) U.S. Government Office, Washington Printing D.C. 20402. |