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Show CPI Ties Up Credit Line, Chemex Testing in Italy is Favorable on Cancer Patients RIVERTON. Wyo. Charles Hamilton, the president of Chemex Corp. (OTC 3.375, 3.625) said last week that Chemex researchers in Rome, Italy have received favorable results on short term cancer tests there. The Riverton based drug research firm has been working in Italy and Guatamaula for about two years on a drug known as larrea divaricata, a g derivative of the cresote bush. Chemex researchers and doctors in Rome have obtained favorable results on about two dozen serious and terminal cancer patients at the Italian clinic, Hamilton said. The tests were conducted under the supervision of Dr. wild-growin- Russell T. Jordan, Chemex research coordinator. the short-tertests were encouraging, Hamilton said long-terWhile m tests must follow the original clinical tests to substantiate the results. He said the company is hopeful the cancer drug will be marketed abroad in the not too distant future, but he declined to be more specific. The trading price of Chemex stock climbed correspondingly shortly after the results of the tests were The stock announced. moved from 2.50, 2.875 in early February to approximately 3.85, 4.25 as of March Colorado broker called the stock climb a 10. A technical'' move prompted by brokerage firms buying reserves of Chemex stock and said that the encouraging test results also The spurred the move. broker added that Chemex is under pressure from the Securities and Exchange Commission to maintain a m First Quarter Shows Profit AUSTIN, Texas profile and that the company was having disin anclosure problems nouncing the cancer test results to the public. Dr. Jordan, who lists among his credentials such previous positions as vice president for science and technology with the Kettering Foundation and chief of space biomedical research with Martin Marietta Corp., low claims that the healing powers of the drug have long been attributed to a tea made from the leaves of the cresote sometimes called chapparel tea or Mormon bush, tea. Jordan said the drug has also shown favorable results treating dental caries and stomach ulcers. Another of seven compounds Chemex has derived from the cresote bush is said to be effective in removing dental plaque from teeth. LAKE SALT CITY Brokers here have reported heavy trading in TUMA Corporation, of Nevada stock (OTC .045, .05) a gold, silver and platinum mining com- pany. Although the brokers could not directly attribute the trading volume to anything specific, stock ordering began just days after the company issued a letter to stockholders and brokers saying that TUMA, whose stock was virtually inactive before the letter was mailed, had reached an agreement with Torco Corp., Rose-monCalif., for Torco to begin refinement of an estimated 50 million tons of silver and gold ore from TUMAs 240 acre Cajon property in San Bernardino County, California. The San Bernardino d, Assessor's office, Mining Division, confirmed ownership of TUMAs 12 claims (20 acres each). The property is owned by the federal government and abuts Interstate 15 in the Cajon Pass of San Bernardino County. According to the corporate TUMA Maxfield, letter president and W.A. initial production tests indicate recoveries in excess of 200 ounces of silver and 10 ounces of gold per ton of ore. A mining official at the San Bernardino County office said such a sizeable recovery from the Cajon ore simply not feasible. The letter also claims that the Torco company, who acquired a long-idl- e refinery in Rosemond, is currently is crease," said president Com- munications Properties Inc. (OTC 4.125, 4.50) last week reported a profit for the first quarter of its fiscal year and said it executed a new bank revolving credit and term loan agreement for $16 mil- lion. For the first quarter ending Jan. 31, CPI said it earned $413,783 or 9 cents a share compared with a loss of $110,025 or 2 cents in the same period last year. Revenues increased 20.6 percent, to $6,366,445 over 1976 first quarter sales of $5,279,836. With the continuing improvement of our cable systems and the opening of new cable systems such as Newark, Ohio and Upper Darby, Pennsylvania, the revenues and profits at CPI should continue to in Robert W. Hughes. In discussing the firm's new financing, Hughes said the agreement with N.A., Provident National Bank, First National Bank in Dallas, and Union Commerce includes a refinancing of $7.5 million of CPIs existing bank debt. The remaining $8.5 million is available for new construction, acquisitions, and as general working capital. The interest rate on the notes is prime plus 34 percent, Hughes said. The revolving credit converts to a term note in February, 1979 with a five-yeescalating Citi-Ban- k, ar repayment schedule ending The new February 1984. revolving credit agreement replaces CPI's previous revolving credit agreement of $12,650,000. THE County Official Repudiates Tumas Assay Claims NATIONAL the letter the company has been forced to seek ore refining from small western companies because there are no major refineries near TUMAs properties. He said he is negotiating with an eastern refinery. Attached to Maxfield's letter was an unaudited statement of financial condition for the TUMA company as of December 31, 1976. Total assets of the corporation, according to the state- The Notional Enterprise is published weekly by the Notional Enterprise Publishing Company, Inc, 500 Continental Bonk Bldg., P.0. Box 11778, Pioneer Station, 6 Salt lake Gty, Utah S4147. (801) S33-05S- Second Class Postage Paid r. Salt Lake City. Utah R. George Gregersen Publisher Alene E. Bentley Editor Dean Alsup, Mary McMillan Gaber, Jo Schneider Staff Writers Kristopher R. Passey Advertising Manager ment are approximately $5.45 million while total bilities total about $1.2 50 Cents Per Copy Subscriptions $24.00 per year lia- Peter Harrison Production Manager processing approximately onerhalf ton of Cajon ore per day. Maxfield estimates that 100 to 150 it would take years to refine the estimated 50 million tons of silver and gold ore from the Cajon property. He said in dividends National Gas & Oil Corporation (OTC) 15 cents a share, payable March 30 to shareholders of record March 16. Basic Earth Science Systems (OTC 2.50, 3.00) 5 percent stock dividend payable April 29 to shareholders of record March 25. It also declared a second 5 percent stock dividend payable Oct. 28 to shareholders of record Sept. 23. Penril Corp. (OTC 3.125, 3.50) increased dividend to 2.5 cents a share from 1.5 cents payable April 11 to shareholders of record semi-annu- ' The National Enterprise , March 16 , 1977 Page two County ; I t al April 1. Dunkln Donuts (OTC 6.25, 6.625) initial 5 cents dividend payable May 13 to shareholders of record April 29. Fred Meyer Inc., (OTC 20.75, 21.25) 3 percent stock dividend and regular 10 cents quarterly dividend, both payable April 9 to stockholders of record March 17. Most Americans (about believe that our economic system with its individual freedom is the best in the world, yet some changes are needed. To help give you a clearer picture of our system on which to base decisions, a special booklet has been prepared. For a free copy, write: 80) "Booklets'; P.O.Box 1887, New York, N.Y. 10001. Tire American Economic System. (fj) A public service of The Adverting Council & U S. Department of Commerce presented by this Magazine. I |