OCR Text |
Show The National Enterprise , July 21, 1976 Page eleven Intermountain Gets Funds for Comstock BOULDER CITY. Nevada Development by Intermoun- tain Exploration Company (OTC 7.50, 8.00) of its Central Comstock properties in Virginia City, Nevada (50 Intermountain) will be financed by a $300,000 loan from Zion's with the loan funds, as well as begin loading pads for leaching. At the South Comstock Intermountain), Project (50 Wyman said the company has staked fifteen additional mining claims, leased four claims First National Bank, Salt Lake and purchased one patented FCR&l&N D&N TAUl0o TO M KrMiT SrT5 ALD ? Richard City, V. Wyman, president announced 7 last claim. In other activities, week. J ypPRft ScvVE fJCCfANUTT&D Wyman said Intermountain Exploration is initiating a new program of regional exploration for nickel and copper ores in Nevada. The company has also been sampling gold and silver bearing mine dumps in the dump ores will anticipation of leaching operabegin as soon as the recovery tions similar to the Comstock. plant is assembled, he added. No firm operational plans have The company plans to com- been made yet, Wyman said. plete construction of the plant This money wiill be repaid from earnings beginning in six months," Wyn said. Construction of the first heap-leac- h pad is now completed and cyanide leaching of gold-silve- r Financing to Fund Telecake Promotion SALT LAKE SALT LAKE CITY Telecake International, (OTC .125, .375) Salt Lake based cake by phone system, has announced a funding agreement with World Investment Corp. Clarence Jolley, company president, said the funding will be used to finance the companys nationwide adverTelecake tising campaign. advertising will appear on national network and syndi- Utah Resources International, Inc. has announced the acquisition of 60,000 uranium leases from the state of Utah. In addition, the company has staked approximately 40,000 acres of federal land. Company president John H. Morgan, Jr. said Utah Resources also recently completed an agreement with Phillips Petroleum Company on some 11,000 acres of uranium leases in San Juan cated television shows. Jolley said the exposure County, Utah, behind the is expected to increase signifi- - outcrop of the famous Me Vida cantly the business handled by nunc that Charlie Steen diseach of the 2500 bakery loca- covered in the 50s. Phillips tions affiliated with the Tele-cak- e acquired the properties subby wire system through- ject to bonus payments and out the United States and reservation of royalty payments. Morgan said. Canada. . Earnings Higher at Murphy Freight ST. PAUL, Minn. Murphy Motor Freight Lines, Inc., (OTC 5.50, 6.25) reported share in 1975. states extending from the It For the six months of Dakotas to New York. serves 1,316 communities. reven1976, increases in revenues and ues Murphy reported of $27,478,000 and net earnings for the second earnings of $535,000 or 34 quarter and six months ended cents per share. This comJune 30. 1976. pares with last year's Murphy reported revenrevenues of $23,697, ues of SI 4,208.000 for second 000 and net income of quarter 1976, an increase of 17 $104,000 or seven cents ROCKAWAY. N.J. Sharp per percent over the same period share. gains in sales and earnings for in 1975. Second quarter the second quarter and six earnings were S348.000 or 22 Murphy Motor Freight months ended June 30, 1976 cents per share compared with Lines, Inc., operates over were today by Radia$155,000 and 10 cents per 8,533 regular route miles in 12 tion reported Technology. Inc. (OTC .75, 1.125) radiation processor and manufacturer of specialized high performance irradiated building products. Dr. Martin A. Welt, president, reported that net income for the second quarter DENVER Brodie Explora- treatment, Brodie said, the advanced to $49,793 or $.04 tion Corp. (OTC .18, .22) has well swabbed oil at rates per share from net income of coma successful Silver abandoned the Caribou indicating $876 in the second quarter of Mine project due to the pos- mercial well from the C zone. 1975. Sales for the three mile is a The costs of Goings month period totaled $283,984 sibility unacceptable westward from up 41 percent from sales of of maintaining the option on step-ou- t the property, G. H. Brodie, Brodic's first six w'ells and lies $202,114 in the comparable president, announced re- approximately in the center of quarter one year earlier, their 5,000 acre block. cently. For the six months ended Brodie also said drilling Brodie said, however, the June 30, 1976, net income No. Goings, the seventh will commence shortly on the in the reached a peak $105,374 or r well in the North Poplar Field, No 1 Roosevelt County, Montana, eastern portion of the North $.09 per share, up 248 per cent The well from the $30,240 or $.03 per is now in the process of Poplar acreage. share reported for last year's completion, with the pump should reach the potential pay first half. Sales for the six being installed for production. depth withiq twro weeks, he months advanced 49 percent After a successful acid six-mon- th Costs Force Brodie to Abandon Mine Project 10 1-- 10 Baker-Coulte- Radiation Technology Doubles 75 Performance in Six Months to S540.940 from $361,889 in the first half of 1975. Per share results of all periods are based on 1,142, average shares outstanding. Net income for all periods 332 includes no provision for income taxes as a result of tax loss carryforwards available to the company. Noting that the company's six months sales approached the level achieved in all of last year, and that earnings for the period were more than double the net income achieved throughout 1975, Dr. Welt attributed the company's strong gains to increased product sales, reflecting increased construction activity and a growing awareness in the industry of the superior performance characteristics of our specialized irradiated building products." Citing the companys high ratio of profit to sales, Dr. Welt commented we are maintaining our emphasis on building profitable sales rather than just on building sales for sales sake." Dr. Welt further noted that the first half gains made in the face of relatively Hat demand for the companys radiation processing services through much of the year to We have in the past date. month seen a most encouraging pickup of business in this area, especially among manufacturers of disposable medical products who are recognizing in increasing numbers the benefits of sterilizing their products by irradiation rather than by conventional sterilizing techniques using autoclaving of gas," he commented. Dr. Welt added that based on our first half performance and the encouraging trends prevailing at the present, we look forward to achieving further strong sales and earnings gains in coming w-cr- periods." c |