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Show OIL & MINING JOURNAL PAGE 4 SEPTEMBER 21,1970 im. Central Oil successful in lawsuits Dear Mr. Blackburn: I am a local attorney and periodically I am asked relative to the best way stock should be registered. In my reference library there are six pages of explanations. Would you put in print a short description for easy reference? Thanks. Name withheld on request. Dear Sir: While the following is not in detail, it can be a good guide for Central Oil and Mining Corp. president Maxwell Bentley, lias announced the company lias successfully concluded two law Ek'lta the suits involving Uranium Mine owned by the companv in Emcrv County, Utah. The company has entered into a new lease agreement with Southeastern Investment Co. of Price. Utah, which will provide a to the minimum royalty for month S500 of per company lease first the 21 months of the and $300 per month thereafter. A new ore purchase contract has been executed with the Atlas Corp., a subsidiary of Occidental the ore now stockpiled at the Petroleum, on core holes being drilled to explore the porphyry mine will be sold to the mill in the near future, Mr. Bentley copper prospect near LaDura, Wc also anticipate that Sonora, Mexico. said. Occidental has the property Southeastern will soon start a lease from the five Salt under mining operation at the mine, Lake City companies. he said. five Salt Lake-base- d The firms In a letter to the Rocky in the contract Mountain Oil & Mining Journal, participating Occidental Minerals with out that Corp. Mr. Bentley pointed there was no mention of Central are: Central Oil and Mining Intermountain Oil and Minings participation in Corp., Croff Oil Inc., Resources, a huge copper prospect in Crown Point Gold & Mexico reported in the Sept. 7 Co., Silver Co., Mining issue of the Journal. 18, and Post Pocatello were Publishing Co., Encouraging results Minerals Occidental 10. reported by Co. mill at Moab, and wc expect 28; 23; 21; you: A) One owner: Mary C Smith (not Mrs. John R Smith). Advantage: The simplest and least complicated uqy to register a stock. B) Joint ownership: John R Smith and Mary C. Smith, as joint tenants with rights of survivorship and not as tenants in common. Advantages : Saving in administrative expense, ease of transfer on death of one . owner, but: cumbersome (both signatures required for transfer or sale: inflexible (stock goes to on death; other heirs or beneficiaries have no claim); perhaps costly (full value of stock is included in estate of first to die except to extent other evidences in and estate of payment purchase of survivor). again John R Smith and Mary C Smith, C) Tenancy-in-Commoas tenants in common. Under this registration, each person named owns a proportionate share of the total account usually co-tena-nt co-tena- nt co-tena- Silver West acquires Govaii Express Spokesmen for ..Silver West Mining Co. of Salt Lake City, have announced the acquisition of all the outstanding stock of Govan Express of Dallas. Texas. The of the purchase The company also announced outstanding stock of Govan, an a new management team, that old line specialized trucker for commodities, headed by J. A. Whatley of referigerated involved the of Dallas, Texas, has been installed, exchange 550,000 shares of Silver West replacing a group headed by H.G. Metos of Salt Lake City. common stock. nt Fact-Pack- ed n: ...with MORE one-hal- f. D) Custodianship: John B. Smith as custodian for John B. Smith Jr., under the State Uniform Gift to Minors Act. Slight variations in this language are required in certain states. Advantage: Income is taxed to child only if child's total income exceeds $600, but properly belongs to child and income may not be used by the parent to discharge his obligation to support the child. for the Aggressive Investor! Over The Counter E) Trusts: Consult your attorney. This item might be of major importance to you. Tear this out and save it or mail it to your stockbroker and make sure he has registered your stock the best way for you. xDearMr. Blackburn: A friend of mine buys stocks that he says have non-reportab- Over 200 le JI. income. Is this possible? Dear Sir: The probable explanation of your friend's investment municipal bonds. procedure would be the purchase of The bonds can be bought individually through any brokerage house or there is a mutual fund type tax exempt bond fund. If stamped you are interested in this, send me a long, mail will and a I envelope you prospectus. tax-exem- and other low priced Stocks trading actively in UTAH, the Intermountain West and Nationwide er O.T.C. Digest Tells You Each Companys Address Mergers Officers Current Activity Dear Mr. Blackburn: rule and a recent change on long term capital gains. I didnt quite understand him and didnt want to look dumb by asking him to write it out for me. Would you describe this in detail so I can clip it out of the newspaper for my tax file folder. Name withheld on request. six-mon- Over-the-Count- pt self-address- ed My broker told me about the PENNY th Transfer Agent Capitalization Annual Meeting Dividends Name Changes Financial Data History Price Ranges also - Splits & Name Changes Agencies end Associations Useful Terms in Oil and Mining Commission Rates Dear Sir: Under the general rules, the holding period of a capital asset begins the day after the date of purchase and includes the day of sale. Thus, stock purchased on January 15 will become a long-term Continued on Page 5 SEND FOR YOUR COPY MOW O. T. C. DIGEST $4.50 PUBLICATION DATE: SEPTEMBER 3fl, 1970 neither an offer to sell nor a rThis announcement ofan offer to buy any of these is securities. The is made the offering Offering Circular. only by FOR UTAH RESIDENTS ONLY NEW ISSUE CHRIS S. METOS PUBLIC RELATIONS 308 Ness Building 15,000,000 Vtirn Silver Spoint, line. . Common Stock Prion: $.02 Fir Share Copies of the Offering Circular may be obtained from the Underwriter. Continental Securities, Inc. 337 South Main Street Salt Lake City, Utah 84111 Phone: 521-714- 0 Telephone: (801) 363-22- 03 Salf'Laka City, Utah 84110 Please mail copies of the OTC STOCK DIGEST $4.50 to Name Address City State Also publishers of "Digest of Stocks Listed on the Salt Lake Stock Exchange" - $5.00 |