OCR Text |
Show OOs Voai? ining firms file SEC application Eflooo7 Ctmtidfiomhge4m holding on July 16. This general rule has not been changed and is still in effect. However, there is a new rule: Stock acquired on the last day of any month must be held until the first day of the seventh following month in order to be long term. EXAMPLE: Stock purchased on February 28 must be held until September 1st if you want a long-tercapital gain or loss. (Formerly the date would have been August 29th. ) end-of-mon- th m Dear Mr. Blackburn: Yean ago I bought some Bakersfield Hacienda stock at $1.00 a share and watched it go down year after year until it was a penny stock. So I gave up any idea of making money on it and very seldom looked it up to find out what the market value was. The last time 1 saw it was months ago at 2S cents a share. Last week I called the brokerage firm and they were unable to locate a quote on the stock. I assume from that reply that my stock is worthless. I have read your column and enjoy it. This is my fust letter to you but before I throw the certificates away can you tell me if they are defunct? Name withheld on request. DearSir: Never throw away old stock certificates I Frame them or save them. But never dispose of them. Many strange events have evolved in defunct companies to make stockholders sorry they lost old stock certificates. In the case of Bakersfield Hacienda, you will now find it quoted as 'Barr Financial and your stock is worth $2.00 a share. And from what I understand about the new organization there is plenty of potential from this investment. so-call- ed THOUGHT FOR THE WEEK: The secret to investment success is time, not timing. TTI YOUR KOMEY" tppssn eddy hi tfca Rocky UMMteM Oi ft Mkiiq JohimL If yov Him a question, write: Richard Blackburn, Lai Yaga SUM P.0. PAGE'S OIL & MlfviNG JOURNAL SEPTEMBER 21, 1970 Box 4275, La Vaga, Nav. I91C8 Rico Argentine Mining Co., Untie Standard Mining Co. and Consolidated Eureka Mining Co. have filed applications with the and Securities Exchange for exemptions Commission under particular sections of the Investment Company Act of 1940. The three are parties to a e proposed merger announced in June between tax-fre- Banner Mining Co., Tucson, and Houston Natural Gas Corp. of Houston. The companies said the exemptions are being sought because of the possibility that Rico Argentine, Tintic Standard and Consolidated Eureka, each er inadvertent asset, may be investment under companies provisions of the 1940 act. Stockholder action on the proposed merger will be delayed pending commission approval of the applications, the companies said. be approved by the boirds of Nuclears approval is based upon Western a favorable tax ruling, it was Nuclear stockholders. Western stated. NEW YORK Western Nuclear and Phelps Dodge have announced approval in principle of a merger involving an exchange of Phelps Dodge stock valued at about $16.8 million. Under the terms of the. merger, one share of Phelps Dodge capital stock woul; be exchanged for every six shares of Western Nuclears common stock outstanding. Western Nuclear had its first deficit last year due principally to the sharp decrease in uranium prices. Phelps Dodge already is the largest stockholder of Western Nuclear, owning 842,300 shares, or about 26 of the firms 3,187,622 common shares outstanding. About 390,000 shares of Phelps Dodge capital stock, of the equal to about 1.9 P-be will stock, outstanding issued to Western Nuclear sharesholders. Phelps Dodge has1 been trading on the New York Stock Exchange for around $43 a share. Western Nuclear, traded the on American Stock Exhcange, sells now for around . $7 a share. In a joint statement, both companies said the merger must both companies and by D FOR THE WEEK OF SEPT. 20th thru 26th ARIES March 21 thru April 20 Golconda, Astro Controls to merge calls for The proposal exchanging each share of Astro for l.S shares of Golconda common stock. Each share of preferred stock of Astro will be exchanged for one share of the of stock new preferred by Golconda, having voting rights, a previously approved cumulative annual dividend of shareholders of Astro. $1 per share payable quarterly Over 83 of the outstanding and convertible into l.S shares shares of the corporation were of common stock of Golconda. represented at the meeting in In addition to the name Wallace where 86 of the shares also shareholders present voted in favor of the change, merger, according to Wray approved an increase in the of authorized capital to 7.S million Featherstone, president shares and one million shares of Golconda. stock. The merger became effective preferred There will be 14 directors of on Sept. IS, and the name of the Golconda Golconda Mining Corporation, Corp., 9 of whom are will be changed to Golconda directors of Golconda and one Corporation. Golconda is based who is neither a director of in Wallace, and Astro Controls is Golconda nor Astro. Officers of a manufacturer of valves and the new corporation will be the food service equipment - with present officers of Astro plus of plants in Chicago and Grand Featherstone, now president a Golconda, who will become Haven, Mich. vice president of Golconda, and In addition to considering the D.L Hess, now secretary-treasurmerger, Golconda shareholders ' of Golconda, who will the on voted amending an assistant secretary become articles . of corporations and treasurer of the new incorporation and bylaws and Other Golconda approved a change in the nature corporation. new board are the of business of Golconda so as to directors on Kenneth Teel and cease to be an investment Walt L Sly, Smith. Norman M company. They also were asked In joint proxy statements, to approve an application to the said Astro and Golconda and Securities Exchange both of directors companies Commission for an order of believed the merger uoffered deregistration. The merger was approved by advantages to each of the boards of directors of the two organizations which would be in the best interest of all companies last April 16. as its principal WesfNuc, Phelps Dodge agree to merge theres Where Ida. Share WALLACE, holders of Golconda Mining Corp. have approved the merger of Golconda with Astro Controls Inc. The plan of merger, which would leave Golconda as the surviving corporation, . was of which owns Banner common heres fire and you are apt to get your pinkies burned. Dont listen to anyone with a quick money deal stockholders. the To Golconda stockholders, in the opinion of the Golconda board, the merger offers the advantages of business and expansion 1 diversification through combination with a large, long-establish- ed enterprise in fire areas of gas control TAURUS 21 thru Maf 20 April show an upward Aspects growth for those Taureans who have set their goals on the building of personal vealth. devices, food service equipment and ultra precision manufacturer. It is the present intention of the management of the new corporation to retain its 691 ,000 shares of Hecla Mining Co. stock and other mining stocks unless circumstances change requiring another decision, the meeting cadi smoke stated. Golconda also will own 54 of file outstanding shares of Alice Consolidated Mines Inc. when that organization is completed and will be a 20 joint venturer with Hecla in the working agreement on Alice. Astro Controls had net sales; of $43,676,000 in the fixcal year ended last November 30, as compared with $39,228,000 the! previous year, and net sales in the four months ended March 31, 1970 of $13353,000 as against $12,667,000 in the same, period of 1969. Net earnings were $1,441,006 in the past fiscal year as against $804,000 in the previous year, and $152,000, in the four months ended March 31 as against $551,000. Golconda holds capital stock of mining companies valued at' $243 1 8,000 as of March 3 1 . GEMINI . May 21 thru June 20 At least one of your personalities will be strong enough to recognize a fool, and take advantage of lus LIBRA Sept. 23 thru Oct. 22 Your budget is not as important as the impression you make now. Spend a little on personal grooming, it can be the end to the means... SCORPIO Oct. 23 thru Nov. 22 If you are able to keep mind off romance your long enough, you may find the market with open arms, ready to take you in. SAGITTARIUS Nov. 23 thnt Dec. 21 You will be all wound up with ethics and principles. Listen carefully and weigh words before defending your position. your spending. CANCER June 21 thru July 22 The field is wide open. Take your money down to the end zone and add up the points. No one will be able to stop your profit if you watch your foot work. LEO July 23 thnt August 22 Dont spend even one thin dime that isnt necessary. Hold tight to the vurse strings and just say NO! VIRGO Aug. 13 thnt Sept. 22 You may have a new friend that will lead the way for an interesting and profitable sideline to your regular business. CAPRICORN Dec. 22 thru Jan. 19 Some people can really make it big with new ideas and products. You will do better to stay with old lines fora time. AQUARIUS Jan. 20 thnt Feb. 18 However you decide to go, go deep, fast and totally. The favors of the stars will soon change, to hesitate could be costly. - PISCES Feb. 19 thnt March 20 In order to achieve what you now have in mind, you will need a trustworthy, reliable friend or a |