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Show OO'fe Glen Exp., Federated Sec. reach agreement on financing Voai? G!!Qi3Q7 Continued from Fage 4 DALLAS Dear Mr. Smith: Unfortunately many salesmen ( both stock and insurance j are better salesmen than counselors. But this is understandable as you don t pay them for that extra work. They work on commission only. What he should tell you but often doesn 7 is this: ( Clip this out for your file ) When the husband buys the policy, makes his wife beneficiary. and writes a check for payment of premiums, he is automatically subjecting his estate to needless taxes on his death. Why? Because in a community property state such as this, only - half of his estate automatically goes to his wife. He owned the insurance policy on his own life, he died , so his estate got the money. His estate is taxed before distribution. When you sign up for your policy, advise the salesman that your wife will be the owner of the policy and the beneficiary. Then, when you make premium payments, you draw the check to your wife and let her endorse the check over to the insurance company. This will prove that you gave her the money as a gift and she elected to purchase her own policy on your life with her money. If she draws the check, the law assumes it was from community property and therefore you were really part owner of the policy. You must draw the check to her and she endorse it over to the insurance company. A lot of marigamaroll? Yes ! But very worthwhile when that day comes to collect and your widow is next in line after the tax man. THOUGHT FOR THE WEEK: Fighting communism is not only the job of soldiers in the field; it is also the job of capitalists at home. All of us must constantly strive to teach our fellow Americans the advantages of working, saving, and investing. We are not doing a good job as the records now testify: 686,000 people were added to the welfare rolls during 1968 compared with 319,000 during 1967. Annual average increase is now 220,000 people per year over the last five years. And not only are families going on the rolls at a faster rate than ever, they are slower to get off. "IT'S YOUR MONEY" appem weekly in tbe ftocky Mountain Oil & Mining JouraaL If yon have a question, write: Richard Blackburn, Las Vegas SON P.0. Box 4275, Las Vega, Nev. 89106 Glen Explorations Inc. and Federated Securities Inc., a Dallas-base- d investment company, have entered into an agreement pursuant to which Federated agrees to provide up to term $400,000 of long to" financing, subject certain conditions. Jack Fraser, president of Glen said Explorations, $300,000 of this approximately commitment has been funded in cash and guarantees on bank As part a subsidairy of Susquehanna Inc., has signed sales agreements for about 1.6 million pounds of uranium oxide for use by utilities in nuclear generating stations, it was announced. An order for 860,000 pounds, with Vermont Yankee Nuclear Power Corp., a jointly owned venture of 11 New England utilities, is scheduled for delivery The Vermont Yankee reactor is at Vernon, Vt., and is about 70 completed and is scheduled to be placed in service by September, 1971. The second contract for 720,000 pounds is with Jersey On July 9, 1970, Fraser noted that Glens wholly owned subsidiary, Carbon Fuel Co., opened its No. 3 mine which is designed to produce a minimum of 500,000 tons of high quality bituminous coal annually. He added that an old coal' sales contract with Peabody Coal Co. has been renegotiated. The price of coal under the new contract, effective Auust 1, 1970, has been increased from $3.85 per ton to $4.55 per ton, and the annual sales volume is fixed at 150,000 tons minimum and 175,000 tons maximum. Other contracts and spot sales are being negotiated in the price range of $5.75 per ton to more than $8 per ton. The first phase of Glen's exploratory underground Palmetto Silver operations at the prospect is nearing completion after tunneling a total of more than 1,300 feet, along the principal silver vein, Fraser noted. He said the firm does not yet have assays on the last 400 a Nevada Ltd., a subsidiary of Iso Mines, announced that it has come up with a very intriguing new copper situation on its Yerington property, about three miles southwest of the town of Yerington in southwestern Nevada. It is about the same distance south of the large, Weed 24,000 processes yellowcake for sale to utilities, Susquehanna did not reveal terms of the contracts. Until recently, the Government had been buying yellowcake for $8 a pound, but open-markprices have been somewhat lower. et nuclear-fue- l S.D. ton-per-d- ay that from the initial drill information obtained, the find is very very interesting, could be very complicated and diamond recent The important. drill holes completed (five to date) have given indications that the company is on to a strong Susquehanna said the Ray Point, Texas, and Edgemont and wide sulphide zone carrying copper values and occurring in a skarn formation in limestones, Strike length indicated it is upward with 400 feet still open, The property is held under option by iso Nevada Ltd., and this option is in good standing until January 15. 1971. when the next payment ot $25,000 cash becomes due. Horn Mining Corp. has announced that drilling operations on its uranium property adjacent of the Lucky Mac pit Wyoming to a in is the Gas Hill of underway pursuant joint venture agreement with Hills Gas Corp. of Colorado Springs Colo. holes, some of which have been bottomed out as deep as 400 feet, have been completed with encouraging Thrty-si- x results. Big Horn officials said. Adequate equipment, vccause of demands for assessment work. the planned exploratory work geophysical and geological has been completed and Glen is seeking a substantial partner with whom to share the further operations there, j exploratory Fraser said. By Merle Cox ARIES March 21 thru April 20 Now is the perfect time to really hit the jackpot if you have any holdings at all! Increased interest in your line will bring in the profit. TAURUS 21 thru May 20 April June 21 thru July 22 Things are really on the move for you now. Keep a tight rein on yourself as you may be flattered into almost anything at this juncture. GEMINI May 21 thru June 20 An older relative may do something marvelous to help you earn more money for the future. Keep busy and show your willingness to use energies. LEO July 23 thm August 22 LIBRA Sept. 23 thru Oct. 22 Don't feel sorry for yourself because someone has not agreed with your every idea The things you have decided in your buying program will prove to be correct. SCORPIO Oct. 23 thru Nov. 22 Your st rongest characteristics will show up now because of a handling contract. of your large business SAGITTARIUS Nov. 23 tlw Dec. 21 You nut, have a chance to become: a leader in a special community or political organization. Think ahead before turning down such an offer. CAPRICORN Dec. 22 thru Jan. 19 You must cut your mind free from a lot of clutter that lues been slowing your mental- activity lately. Discard traditions and go get the money! - AQUARIUS Jan. 20 thru Feb. 18 Keep up the cycle of Keep in close touch with someone at a distance who may hare a plan for use in the near future to make your relationship a profitable one through launching of ideas. one the chance to accuse you of shirking. This attitude will bring untold treasures of advice and VIRGO Feb. 19 thru March 20 high endeavor and give no opportunity. PISCES Big Horn drilling on claims Big At the Lucky Jim Silver and copper prospect in California, all FOR THE WEEK OF SEPT. 13 THRU SEPT. 19 CANCER yellowcake will be delivered from its mills at Falls City and Heights open pit operation of the Anaconda Co. A company official reported FINANCIAL FORECAST Taurus tends to nurture a little vanity which could at this point be damaging to the pocketbook. Iso Nevada finds copper zone Nev.-I- so when funds become available, Fraser said. drilling Fuel. Nuclear Co., a subsidiary of Standard Oil Co. (New Jersey), and delivery dates are in 1971 and 1972. Jersey Nuclear is a fabricator that confirmatory and exploratory refinancing efforts, Fraser said the firm has succeeded in rescheduling payments due to the former owner of Carbon feet of the tunnel, but later this year and next year, estimates of ore tonnage and grade, is now in preparation, Palmetto is in Colorado. Fraser said assessment work had been completed on the companys Glen Creek placer gold property in Alaska, and at the Keystone Copper Prospect in Arizona, remapping and all assessment work has been completed and filed. The assessment work consisted of rebuilding approximately nine of the company's U-o- re ALEXANDRIA, Inc., complete engineering and 'miles of road into the prospect? geological which will include The next step will be loans. Firms sign sales agreement for 1.6 million pounds YERINGTON, PAGE'S OIL & MINING JOURNAL SEPTEMBER 14,1970 Aug. 13 thru Sept. 22 was not available untill after the 1st of September to continue the work, they said Present pland are for moving of three large drilling rigs and proving devices on to the property within the next ten davs. You may become known as one of the finest people for miles around. Use this new found prestige to gain useful advice for the market fluctuation. Don't even v begin to think that the only way to make money is your way. Tell the other guy about your projits and you may learn a great deal that will surprise you. |