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Show JUNE 22, 1970 Wyo. OIL & MINING JOURNAL PAGE 3 reserves valued at $1 .3 billion U-o- re W A S H I N G T ON-omings vast uranium ore reserves are valued at $1.3 billion, according to the U. S. Atomic Energy Commission. As of January 1, 1970, the AEC recorded 44 million tons of uranium ore Wy per ton, the ore would sell for $1.3 billion if sold at the price of $8 per pound. If mined over a period of 20 years, annual income from the ore would be $65.8 million. reserves in Wyoming, a big jump from the 32-miili- tons on recorded a year ago. Estimated to contain an average of .19 per cent, of uranium oxide or four pounds si Atlas Corp to lease Globe Uranium claims about 1,800 acres and is in the Atlas Atlas minerals division. has announced its Corp. intention to lease a group of Utah uranium claims held by Globe Minerals, Inc. of Salt Lake Gty. The claims are located in the San Juan County area, according to R. F. Hollis, president of southeast section of the Atlas will also grant Qobe a Indian District. Under the agreement, Atlas a from of will group immediately begin a drilling produced and claims which are exploration program which contiguous owned by Atlas. This unit is scheduled for completion late covers an area of this year, Mr. Hollis said. property By Chuck Hayward royalty position on ores On Page One we have an article on the proposed investor insurance program to protect investors against loses brought about by failing brokerage firms. Hamer H. Budge, Securities and Exchange Commission chief, has questioned whether or not the program has sufficient safeguards for the investor Le., whether it provides for sufficient SEC supervision. Banner, Houston Nat. Gas approve merger, to involve Tintic Standard, Rico Argentine The HOUSTON, Tex. Houston Natural directors of Gas Corp. of Houston and the Banner Mining Co. of Tucson, Ariz., have approved a letter of intent calling for. a tax-fre-e will be issued , . the SEC does an important job in protecting the investor, and agree that without this government comes the jungle." But we do look with concern bureau SEC's on the growing emphasis on safeguarding the investor at times et the expense of the natural workings of the market We feel to Rico Argentine an annual divident of $2 per in recognition of share, payable quarterly, and stockholders the other assets owned by the companies. The new preferred will have few will be convertible at any time into 1.05 shares of Houston Natural common stock. merger between the two common stock, said HGN taught that one of the reasons that the stock market was profitable was the element of risk involved in investing in it We wonder if it isn't true with and brokers that the SEC as with so many investors their attitude toward the market hasn't been formed by the record stretch of 'good times' when almost everybody made money in the market So that now, with the country in an economic recession and the market 'up tight' and sagging under the strain, the commission hasn't become overly concerned with protection and insurance. Stockholders of'each They forget that the risk is part of the game, and it's possible to legislate both the risk and the profit right out of the market This sort of 'Cradle to the Grave' philosophy of protection is abhorrent to any investor worthy of the name who honestly understands the market companies. We have always been Houston Natural Gas will issue 3,480,180 shares of a new series of its convertible preferred stock for the 6,960,360 outstanding shares of Banner president Robert R. Herring. The issuance will be based on one share of the new HGN convertible preferred for every two shares of Banner common. Also being absorbed by HGN is Tintic Standard Mining Co. and Rico Argentine Mining Co., whose assets are held by Banner. company will receive shares' of the new preferred stock based on the companys holdings of Stock Bonds Mutual Funds Banner.. In addition, 45,000 shares of Houston Natural common stock P I 0 I Weston & Co. takes offense i Continued From Page BLUED Phone Sylvia Porter, one of our favorite financial columnists, commented on the risks of the market in a recent column which asked, "Is this a good time for you to buy stocks?" MS mm lANMIcTOSMflllNAII 1 defended its position, he said. In our case I believe the actions of the .SEC have been capricious and .irresponsible in relation tp protecting the public interest as that interest relates to the customers of Weston and Suite 1016 801-521-75- 80 W "Yes," Miss Porter states, " if you, as I, continue confident that our economy is in a long-teruptrend and have not been shaken by this convulsive stock slump into believing our society is permanently cracking up. m fI I I "Yes if you, as I, invest money you do not need for regular living expense have savings in cash or its equivalent to help you through unexpected financial emergencies and have the emotional temperament to buy and own stocks for itcialiu ii nlw, fid ' paamf mtmiaf itockt. W and uranium ttocfcc and ulctfiv bay ardmra accept callact call J.H.DILLON&CO. W. 411 Ipipt. Spain. Wwk tWli, W. the i Member Spokane Stock Exchange noted that Unity Capital Corp of Newport Beach, Calif., had proposed to acquire Weston & Co. through Westons parent Interphase Corp. and would have provided capital sufficient for Weston & Co. to resume operations. 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. 2,850,000 SHARES (Common Stock $0.01 Par Value) !Rfpnirc3i2a! 359-551- . OFFERING PRICE: $0.10 PER SHARE Copies of the Offering Circular may be obtained from the undersigned only in states where the undersized may legally offer these securities in compliance with the securities laws thereof. 1 "TreefcrAgme far. cUASIC EBONY OIL . HI-- H0 SILVER ft GOLD SECURITIES, INC. 601 Keanu Bldg. 1)322-31- SaH lisle City, 11 Which brings us to the suggestion that while the government is toying around with insurance programs they might consider some sort of insurance for the broker which would protect him against arbitrary and policies by the government which make it impossible to remain in business self-defeati- TEDDA DEST CODPOQATIOQ GO WITH A Manhattan Transfer APRIL 6, 1970 NEW ISSUE . "Yes if you, as I, have a specific investment goal suited to your needs, are ready to stick to your goal until your circumstances change and are fully aware that while chaotic declines such as today's are rare, there's always a risk in stocks." Co. Mr. Weston long-term- W-44- U till! hear from a reliable source that the off again merger between Unity Capital and Interphase, parent company of Weston & Co. stock brokerage, any be on again. This second merger proposal is reportedly not all the first one purported to be, but the end result should be the reopening of Weston ft Col possibly as early as Monday or Tuesday of this week. We can only hope. Nobody likes to see a good brokerage such as Weston's gn under. We -- on-agai- n, |