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Show OIL & MINING JOURNAL PAGE 4 dtt,s mm Senator calls coal mine safety law virtually impossible to comply with rail WASHINGTON 'RICHARD Wallace F. Bennett. BLACKBURN Dear Mr. Blackburn: When I donate money to my college, how do they invest it? Mark Smith Dear Mr. Smith: The last report that I have reports on 70 college endowment funds. Their investment portfolios break down as follows: 1. Common stocks: 57.8 2. Bonds & Cash: 3 1. 8 3. Real Estate: 10.4 also The study reveals that college funds rely on quality the securities investments, of solid, established companies with proven records, rather than those with more speculative allure. Inflation and the need to build principal over the years weigh heavily with fund managers. Income growth potential is stressed rather than high current yield. Dear Mr. Blackburn: I read with interest the reply by you to the gentelman who was inquiring regarding the stock of the Sans Souci (now bankrupt) hotel in the City of Las Vegas. It was by chance 1 saw the article as 1 carried the paper here to Los Angeles before 1 had a chance to read it and see your column. My interest is more than passing as 1, too, have money invested in your city and I am as much interested in what is going on with my money as the other man was. There is one difference; I have money in both the Stardust and Hacienda Hotels, not in the hotel mentioned. My question is: What status does a person have and what is the condition of his investment in both the Stardust and Hacienda Hotels?My name must remain anonymous as 1 am a practicing surgeon in this city. Please answer July 26th as I will be back in Las Vegas then. Dear Doctor: Your Stardust certificate is now only useful as a decorative piece on your den wall. Years ago, after Tony Cornero died, the Stardust went into bankruptcy and common stockholders lost their investments. But not so the Hacienda. Although times were tough Doc Bayley was inventive enough to keep the Hacienda alive and finally brought it to a profitable level. Two years ago Las Vegas Hacienda stock went as high as $3.00 a share. It is now trading at about 50 cents on the bid side. Dear Mr. Blackburn: purchased shares in VEGAS AIRMOTIVE CORP. in 1961 which at that time started in business at McCarran Field in competition with Alamo Airways. Three or four years later the name was changed to Executive Air. A few years later it was purchased by Alamo Airways. At that time, we received our first and only correspondence to this cents on the dollar. date. Alamo Airways offered us twenty-fiv- e We turned down the offer, and since then Howard Hughes purchased Alamo Airways. We -- has submitted to the Senate Labor and Public Welfare Committee an Interior Department report which he says documents his contention that, as presently Federal Coal written, the Mine Health and Safety Act is 19 virtually impossible to comply with. At the same time, 1 must emphasize that 1 am strongly in favor of strict safety requirements to protect our nation's miners, the Senator said. Sen. Bennett said in a letter to committee chairman Ralph "This Yarborough, the report by Department which has the responsibility for 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. APRIL 6, 1970 ALBUQUERQUE, N.M. of a Development uranium ore reserve calculated to contain 11,650,000 pounds of uranium oxide, which can be mined economically under current market conditions, is reported by Reserve Oil & Minerals Corp. in its annual report to stockholders. The reserve is located in a 3200 acre tract in the southern extremity of the 1 88 square mile (Evans) Ranch, 601 Kearns Bldg. Salt Lake City, Utah (801) 322 - 3515 before being subject to penalties. Sen. Bennett said, Although the Department is enforcing the Act as its is written, t is report seems to indicate that some of the Act by I therefore in is order. Congress urge you to schedule hearings on my corrective amendments. reason for this unwieldly number of citations during the First three weeks of the laws existence is apparently that there simply are no such brakes available automatic on the market. Yet operators U-o- re In his recent report to Mining District. stockholders, James J. Melfi, president of Reserve, reported that the deposit has not yet been fully delineated. However, he The present ore declared, reserves justify a mill of 1,000 tons per day, and preliminary mining and mill planning studies are under way. The 3200 acre tract, known as the South Tract, is located of north Anaconda Co.s directly Jackpile Mine in the Laguna The purchase of the from that of a g and royalty a that to of producer company company land-holdin- of yellow cake, Melfi wrote to stockholders. Reserves executive offices are located at 523 Third NW in Albuquerque. L-B- AN EXCITING INSIDE STORY firm under contract to the Sohio-Reserjoint venture. The ore is located at depths of 250 to 700 feet. a ve OF LAS VEGAS Brokors, BY Undorvzritors, B Mining Componios Wo Understand Your Uoods DICK TAYLOR and PAT HOWELL Published by Naylor Publishing Co. San Antonio, Texas For the first time the true behind the scenes story is available to the public. This true story is written by authors who are well versed in the lurid background of the area. They cover all phases of Las Vegas and the people who operate the Gambling Halls. Printing & Mailing facilities for D Shareholder Q Prospectuses Reports A COMPLETE HISTORY . . . 1 6 PAGES OF PHOTOGRAPHS . . . HARD-COVE- Financial Statements A PRESTIGE Etc. nIAS & LITHO 347 487-07- 68 SOUTH 2700 or 298-37- 03 WEST POSSESSION... $3.5 ea. Sell Orders, 'iLer.,, PRINTING LIBRARY QUALITY . R Stock Certificates Buy1, L-B- Ranch, the agreement with Sohio Petroleum and our ore reserves have led to a basic change in the character of your attributed to TEDDA WEST CORPORATION BONNEVILLE SECURITIES, INC. 1 approximately 30 air miles west of Albuquerque. The tract is owned jointly by Reserve Oil & Minerals and Standard Oil Co. of Ohio (Sohio). The estimate was 2,850,000 SHARES (Common Stock $0.01 Par Value) OFFERING PRICE: $0.10 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. national minerals documents fuels and policy the distrubing reports have had from small coal mine operators in Utah and elsewhere. Many of these operators arc faced with going out of business through no fault of their own unless the present act is rendered possible to comply with. The senator noted the report showed 199 violations between March 30 and April 1 8, 1 970, of a section requiring automatic brakes on every mine car. The Reserve Oil to mine L-- Bar continue to be cited for violating this section of the new law, he said. He added, One problem that was immediately apparent was that the Safety Act regulations were not issued until March 31 of this year, in some cases, and the Act went into full effect April 1, leaving no time for comment or for operators to comply with its provisions Sen. establishing h, Continued on Page 5 NEW ISSUE AUGUST 3,1970 SCENE publishing P.O.Box 19243 Salt Lake City, Utah 84119 Please send me factual expose' of LAS money order for $ NAME. ADDRESS. CITY AND STATE. CO. copies of your exciting and VEGAS. Inclosed is fny check or |