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Show ft?1 C May 11, 1970 OIL & MINING JOURNAL 4.V AEC lists uranium concentrate purchases for 1969 Utah aide denounces Nixon g state curbs ipn oil production A member U WASHINGTON the Presidents Council of jftf Economic Advisers has sharply attacked the restrictions that gome states impose on oil Production. that, it is nevertheless estimated that domestic production could be increased by 20 conservation. The petroleum industry has often expressed great concern over our dependence on foreign oil, but at the same time it has apparently failed to recognize that we have to buy so much foreign oil because our domestic production is less than what it economically could be, Mr. Houthakker said. prorationing as currently practiced appears to go beyond the legitimate needs of conservation. Mr. Houthakker also strongly opposed any import controls to aid the U.S. trade balance. Instead, he suggested, the U.S. trade balance should be assisted by improving the tax situation of exports, or by providing more credit for them. In his denunciation of restrictions on oil production, Mr. Houthakker specifically cited Texas, where he said oil output is 36.5 below what could be produced economically. state-impose- d Conceding that some restriction of oil production is necessary in order to avoid wasteful' exploitation, lie said ri i i i iI without interfering with justified Hendrik S. Houthakker said r,the question has to be raised what justification there is for oil fjprorationing beyond the needs of conservation. In a speech at jXouisiana State University in f Baton Rouge, he charged that : the situation, Mr. Houthakker said On balance-of-paymcn- ts km Continued from Page information. 1 , Two other key wildcats are s in being drilled by rank wildcat territory southeast of the Prudhoc Bay field. A Mobil-Phillip- which would undoubtedly have adverse effects on our exports. Thus, he said, the U.S. should explore positive ways of improving our trade account, possibly by removing tax disadvantages to exports, or be , providing readier access to export credit. profit paroaticl geld and uranium stocks and seleltive Wo accept collect calls on buy orders. penny mining stocks. J. H., DILLON W. 41 1 Sprogoe. Spekme. Wesk. f ftl, Tel. RJR-443- S Member Spokane Stock Exchange purchases by AEC showed New Mexico far- out in front with - 8.208.000 pounds sold to the AEC from four processing mills. Fpur mills in Wyoming sold 2.230.000 pounds, and four additional mills in Colorado, ,929,000 pounds. 1 addition, the In by uranium producers amounted to approximately 9,500,000 of the total pounds, or 44 during 1969. discovery at either or both could have major implications. One of the wildcats is in the Mikkelscn Bay area, 35 miles southeast of the Prudhoc Bay 0 o Q discovery well. Its the Mikkelscn 13-9-1- 9, State No. contract to under Bay The other is even farther out. Staines State It's the Social-WeNo. 50 miles southeast of the Prudhoe Bay discovery well. Its under contract to Peter Bawden Drilling. Both wildcats are tight security holes. st 18-9-2- 3, Continued from Page statutes are also clear as to the 1 delivery of such abandoned deposit boxes have been regularly reports. turning property to the state treasurer. The opinion further said it in property appeared it is not even necessary that the listed owner have an address in Utah for the securities to be reported to the treasurer, Mr. Allen is a possibility that the houses arc sending tjicsc items of unclaimed property to the state of New York when they arc unable to locate the owners within the seven year period even though the owners might have a last known address in Utah. The opinion said, It seems clear. ..that brokerage houses must report to the state treasurer n the securities, dividends or other sums of money held by them and presumed to be abandoned...the This Announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities . The offering is made only by the offering circular s New Issue For Utah Residents Only 6,000,000 Shares islakalSfl lABltfSflSiPl fl( y i I. r. fj v4 1 ; k . Era Inc, fkUUNd weekly in Sdt Lake City, Utah by Charles E. Hayward, of 4386 ft. 3780 South, Granger, Utah 84120. Mailing addraw: P.O. Box 18243, Salt Laka City, Utah 84119. b i SlMteflh Serving the mining and oR industries of the Rocky Mountain Region. Articles end infarmed on herein are true and factual to the best knowledge of dm publisher. Information and opinions published are the sole responsibility of the publisher and do not reflect the attitudes or opinions of the merchants, brokers, corporations and service firms who advertise herein or otherwise sponsor this publication. Second class postage paid at Salt Laka City, Utah 25 Cants a copy Price Per Share 5c Developers of Low Cost Housing, Recreational Properties and Pursuing Miscellaneous Related Investment Opportunities. Copies of the Offering Circular May Be Obtained From the Underwriter Subscriptions $10 per year First Fidelity Underwriters Advertising ratra bnpfay Advertising dawfied Advertising Phone: EcBtor & Publisher. Aeteart to FUdisher $2 col. inch .$2 for 20 words 2S3-24Q- 3 or 298-370- 3 ...... Phone Chuck Etayvwnd Enid J. Hayward sales Reading & Bates. Q Q AEC to reported, deliveries U.S. firms commercial 0 8 CO. & I I IO I 1969 uranium concentrate and South Dakota accounted for 'a total of Utah asserts rights to claim old stocks brokerage ng a cost of 572,336,000. A breakdown by states of the Alaska weighs new oil lease sale retaliation, ever-wideni- in tilvvr, j Atomic Energy Commission has announced that during calendar year 1969 it purchased through its Grand Junction, Colorado, office 12,367,000 pounds of U308 in uranium concentrate form. The concentrate, purchased from ore processing mills in five western states, was purchased at told Mr. Romney in February, Wc have reason to believe the state is not receiving all such items of unclaimed property. Rather, wc feci there RANGE 4c TO S40 PER SHARE J U.S. he personally believes there a need for additional measures. But he said import controls arc highly undesirable not only because they would reinforce inflationary pressures, but also because they arc likely to bring about an spiral of is SILVER MH1IU6 STOCKS Wi iptcUliu The 521-68- 00 530 East 5th South Suite 2U1 Magnum Plaza Salt Lake Citv, Utah 84102 |