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Show OMJ Page 5 October 26, 1970 008 T70fl? JflDQ7 Continued from Fate 4 The commission rates continue to increase in a very similar pattern as outlined above. For a complete outline, contact your broker. MORE CHICKEN Most people find it quite a chore to make sense out of economic and financial theory. This is particularly so in a country such as our where our economy is influenced by the many facets of a free enterprise capitalistic system. We think you will enjoy some timeless comments once, made by the Warner & Swasey Company on one of the more basic of our American economic truths: You repair shoes, he pumps gasoline, I raise chickens. We sell to each other and to the man next door a retired school teacher on a pension. Somebody convinces me I can make just as much for less work, so I raise fewer chickens but increase the price of those I do raise. But you arent going to repair more shoes in exchange for a chicken; he isnt going to give me more gasoline for a chicken. Its the same chicken; I havent made it worth any more to you. So all you do is raise the price of shoe repair work; he raises the price of gasoline. But the retired school teacher cant raise his pension ; he just gives up chicken. And all I've done is lose one customer, and traded dollars with the others. If I had worked more efficiently (maybe invested in a mechanical brooder) I would have had more chickens to trade for more repair work and more gasoline, and by cutting costs and prices a bit, got two teachers as customers instead of none. And more people could be enjoying chicken. TOUGHT FOR THE WEEK: The secret to investment success is time, not timing. United Park City Mines elects new president Miles P. Romney, Salt Lake mining consultant and former secretary-manage- r of the Utah Mining Assn., has been elected president of United Park City MinesCo. Section was at a meeting of the board of directors. Mr. Romney succeeds Clark L. Wilson, who will continue as a member of the board of directors and chairman of the companys -- executive committee. Mr. Romney was elected a director July 14, 1970. Mr. Wilson is manager of Utah operations for the Anaconda Co. Chandalar SPOKANE, Wash. Gold Mining & Milling Co. has milled 3,000 tons of ore averaging one-ha- lf ounce of gold per ton for Little Squaw Mining Co. from their Mikado Mine in Northern Alaska. The ore was mined from a 400 ft, long surface cut and an estimated 4,000 tons of one ounce ore has been stockpiled, according to Karl W. Jasper, president of Little Squaw. The sublessee is Chandalar. The ore in the bottom of the cut is reported to be 14 feet wide and sampling indicates a gold content of about 1.3 ouncer per ton. Discovery of the surface ore has doubled the mines ore reserves, according to Frank Birch, a Spokane mining engineer . and managing partner of Chandalar. The ore cost 50 cent a ton to mine, he reported, and milling and hauling costs were about $8 a ton. An early freeze Smelting & Refining Co. to fill a vacancy on the baord and the position of vice president, resulting from the resignation of K.D. Lough ridge. Mr. Loughridge, a. vice president with ASARCO, has been assigned to New York City. Anaconda and ASARCO hold nearly 30.5 of United Park City Mines stock and are now engaged in joint exploration and new development of United Park City ' Mines property near Park City. CORDERO MINE McDermjtt, Nevada 702-532-87- 58 Pipe, hardware, timber, tools, vehicles, shops, houses and large assortment of used mining equipment and materials. a September for lack of water and the gold concentrates, frozen solid, cant be shipped until the thaw next spring, Birch said. The start up of the mill August 1 climaxed 1 1 years of prospecting, exploration and development by little Squaw and Chandalar at the property in the Chandalar Mining District 90 miles north of the Arctic Circle. The steel mill structures were prefabricated by Garceau Steel Structures of Spokane and shipped by rail to Vancouver, B.C., by barge to Anchorage, by rail to Fairbanks and by plane the remaining 1 87 miles. All other equipment was flown in to the property except bulldozers which had been walked in from Fairbanks years ago. Little Squaw and Metaline Mining & Tobin Creek Placer Ltd., in mining placer gold below Mikado Mine. the New partner joins Australia project M 1DLAND, Tex. Land & Exploration Tipperary Corp. and The feasibility of a bauxite alumina plant and Holland Aluminum have mine, associated infrastructure with a announced that the Pechiney Co. of France has secured an option to acquire an interest in their Australia consortium. D HAS Leasing Co. and Admiral Consolidated Mining Co., also headed by Karl Jasper, are among the partners in Chandalar Gold. Grandview Mines, of which Jasper is president, and Metaiine M&L owne nearly half of Little Squaws issued shares. More than $13,000 worth of placer gold (370 ounces) was displayed in a gold mining pan at the Spokane Stock Exchange by Little Squaw in connection with its being listed for trading with the exchange. Jasper said the gold was received in payment for rental of Little Squaw equipment used by bauxite-alumin- a contemplated initial yearly capacity of up to one million tons of alumina now is , being considered by the consortium. EpoCiqpSj TTifaniisffei? gjeontts MmGaeiTtrji? fitters and others needing rapid data processing. Smelting Department of American forced shutdown of the new mill in The board also appointed Lee C. Travis, manager of the Western LIQUIDATION SALE Telephone Little Squaw gets report on gold ore from Alaska m i ne |