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Show JULY 20. 1970 OIL & MINING JOURNAL PAGE 4 New mining book chronicles Nevada ghost towns, camps An interesting of the mining era in Nevada is achieved in a new book. Nevada Ghost Towns and Mining Camps,' the scope of which is so extensive that nothing approaching it has been written before. on Dear Mr. Blackburn: I just inherited some stock from my Grandmother that has a par Dear Mr. Blackburn: I just inherited some stock from my Grandmother that has a par value of $S. But my broker says I can cash it in for $63 a share. Would you answer two questions for me:. 1. Why is it worth so much more than par value? 2. Should I sell it. Name withheld on 66 Approximately 8 settlements arc described: some that died an early death, some that and were some that survive to this day. the The book captures excitement of those prospecting request. days and the exultation of rich discoveries. The author, Stanley W. Palier, tells the story of each camp as it was in its heyday and, where possible, show pictures of it as well. These illustrations are almost without rare, exception unpublished photographs found in attics and family albums of Nevadans Nevadans and in exile. Of the 700 illustrations chosen, 500 came from private sources as against 130 from public institutions. Whenever the towns ahvc interesting buildings still standing, fine contemporary views are presented. Historians and Nevadans will realized the definitive nature of this work by a native son and artifact collectors and desert rats will appreciate the clear amps and the fact that the book is arranged so that, given a pivot town, short trips will take you to the sites. Dear Lucky Heir": your last question first because it will take more time to explain your first question Too often people that inherit stock run right out and liquidate will answer the shares, spend the money to pay accumulated bills, and then a year or two later have nothing left to show for their inheritance. You neglected to tell me what the name of the stock was so I cant give you any advice on what to do with it, to sell it, hold it, or buy more. This columnist doesnt give that type of advice anyway. Please give bug and serious thought to any decision to liquidate. Get good advice from your banker and your stock broker. To answer your question about par value and book value-P- ar value, book value and market value seems to be troublesome terms for many investors, particularly newcomers to the field of stocks and bonds. Par value printed on a common stock certificate looks impressive. $10 par value, $5 par value or whatever. It seems to indicate that the par value, in some vague way, has something to do with general value. It doesnt. Par value of common stock issued in this country today is virtually meaningless to the average investor in relationship to market value. A good many companies . value. incidentally, issue stock with no-pGenerally speaking, the corporation issuing stock with par value must receive cash or property having a value not less than the par value of the shares issued. As time goes on, this relationship may change, because the value of the companys assets change, often drastically. For preferred stocks, par value does have meaning in many cases because the dividend rate if frequently expressed as a per cent of par. A company might pay 57c dividend on a $50 par preferred, or 5 on a $100 par preferred. The dividend, though, may be expressed as a dollar figure in which case par in relation ' to dividend would be meaningless. BOOK VALUE of a common stock is a meaningful term-b- ut only if it is related to other factors used in trying to determine a compnays financial position. Book value is Also termed net asset value or net assets available to the common stock. Heres how book value is determined: Add the companys assets; deduct all liabilities ; then divide the remainder by the number of common shares outstanding. The relationship between book value and market value certainly exists- - but treat it tenderly. Book value above market value may indicate a possible bargain. Or the book value may be ar Continued on Page 5 . Mangely top Colorado producer The Weber Rangcly Field continued to be far and away Colorados best oil producer in 1969, with 11,965,057 barrels; The field is currently averaging more than 27,000 barrels daily so far this year. On the basis of this field and the Wilson Creek field, Rio Blanco County heads Colorados oil statistics in 1969 and ranked second behind La Plata County in gas production. The county ranks fourth in the state in drilling activity thus solicitation of an offer to buy any of these securities. The offering is made only by the Offering Circular. 7,000,000 SHARES Common Stock $0,005 Par Value Kings River Mineral Company OFFERING PRICE: $0.03 PER SHARE Copies of the offering circular may be obtained from the undersigned only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof. BONNEVILLE SECURITIES, INC. 601 Kearns Bldg. (801) 322 Salt Lake City, Utah - 3S1S Conservation Commission, being led by Adams, Washington and Weld counties. Rio Blanco has Country passed the oil production. mark in e Last years figures of 14,427,990 half-billion-bar- all-tim- barrels of oil and 31,619,881 million cubic feet of gas were down substantially from outputs ten years ago fo 20,555,605 barrels of oil and 59,855,864 mef of gas. Production the in Creek field amounted 2,200,100 barrels of oil during 1969. Total production in the state last amounted to year 28,294,253 barrels of oil, pushing the cumulative output to 922,766,515 barrels. Gas production totaled 122,124,322 mef in 1969, compared with mef a 131,588,218 year previous. Production in the Rangely Weber field is expected to rise substantially when the present water flooding program reaches it potential. Wilson Pacific Air Transport subsidiary gets oil field contract are fly passengers from mainland SANTA ROSA, de Aviacion, Ecuador to the Galapagos Islands. Americana has begun to contract to haul drilling material to the Ecuadorian oil fields for carry cargo for Texaco from to Quito, Texaco, it was announced by Miami, Florida, Mr. Stoker said. The Harold Stoker, chairman of the Ecuador, board of Pacific Air Transport. company will also transport Americana de Aviacion,S.A. is volume cargo within Ecuador by Baltra Corporation, which arrives by boat. Stoker an Ecuadorian company, and added, Volume cargo is being moved for Texaco and other oil Pacific Air Transport. Americana de Aviacion carries companies by Americanas jet Other aircraft are freight and passengers between assisted the United States, Panama and being used within Ecuador to In Ecuador. addition, the transport oil field supplies for a exclusive has rights to number of major companies. We company Calif. S.A., Americana has signed a long-ter- m co-own- ed C-8- 2. currently negotiating with other oil companies to transport cargo to Ecuador. Americanas pilots are former Ecuadorian Air Force pilots who are familia with the terrain. In order to service the Texaco contract, additional propellor driven aircraft have been purchased and the number of flights have been doubled, Stoker said. The recent change in the Ecuadorian government has not affected the operations of Americana de Aviacion, Stoker said. Bennett urges Interior Continued From Page 1 course in terms of internal mining capabilities unless we more produce technica- personnel for the and industry support programs of training and education in lly-trained This announcement is neither an offer to sell nor a far in 1970, according to the Oil and Gas Colorado mineral science and technology, Sen. Bennett said. In my own He continued, State of Utah, a vigorous program by the College of Mines and Mineral Industries at the University of Utah, in cooperation with the office of Coal Research, and private industry, has succeeded in doubling the enrollment. proselyting 1 am told that a budget cut for the coal research arm of the Interior Department would have long-rang- e immediate and harmful effects on the training program in Utah. The immediate effect would be the loss of jobs for both students and permanent personnel at the research station in Salt Lake loss the United States can City--- a little afford at a time when our power needs are soaring. Utahs senior Senator also on-goi- that noted Office of ng Coal Research programs dealing with air pollution and coal conversion problems would also cease if the Si : I I I SILVER MINING STOCKS We specialiie in silver, gold and uranium slocks and selective penny mining slocks. We accept collect calls on buy orders. I I I I I J. H. DILLON & CO. W. 412 Sprogue, Spokane, Wash. 99201, Tel. 838-443- Member Spokane Slock Exchange 8 lI I I ID ID ID I I I if research is phased out of existence. Sen. Bennett, who has been a of coal strong supporter research, said, Considering the serious harmful repercussions which from would result of the Interior elimination research coal Departments programs, I respectfully urge to rescind any such you proposals. GO WITH A IftfnimiroeD'! Manhattan Transfer 359-551- 1 Transfer Agents for: CLASSIC EBONY OIL HI-- H0 SILVER & GOLD |