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Show The National Enterprise, July 27, 1977 Page twelve Mineral valuation dives Two factors loss of over S50 million in net proceeds by Kennecott Copper Corporation, and some S20 million in oil and gas properties account for a drastic fall in Utah's 1977 mineral property valuation according to Carlton Stowe, mineral specialist, Utah Department of Natural Resources. Total 1977 assessed valu- ation is $430,542,437 a decrease of $70,591,361 from the $501,433,798 assessed in 1976. It also falls short of 1975 assessment $493,052,022. Both mining and oil and in a Piper. gas properties suffered losses, Stowe reports. Mining property valuation for 1977 is $215,297,103 compared to 1976s $266,863,332. 1977 oil and gas assessed valuation is $215,245,334 compared to Take us up on our offer and well take you up in our Piper. Our $5 introductory lesson is a great way to find out what flying is all about. You'll be surprised at how easy it can be to learn. Call now and reserve a time for your introductory lesson. And we will be happy to answer any questions. Salt Lake International Airport - ask for Nancy call 359-208-5 Ogden Airport call 399-- 1 123 -- ask for Don the of One of our qualified instructors will accompany you and answer your questions as well as demonstrate some basics of flight. 1976's $234,570,466. In a statistical study of records from the Mineral Property Division, Utah State Tax Commission, Stowe says 1977 Mine Occupation tax is down somewhat $8,413,065 from the 1976 total of AMD) FRANCHISE DIVISION announces the opening of territories in Colorado and Idaho Outstanding Investment Opportunity Fully Equipped Transmission Shop Turnkey Operation Be Your Own Boss For more details call collect (801)972-416- 2 or write AM FRANCHISE DIVISION 3642 West 2100 South Salt Lake City, Utah 84120 $8,571,686. Largest mine occupation tax was made on oil and gas properties consisting Chevron Oil of 55,915,867. Company paid the highest amount: $1,190,467 from its Altamont, Bluebell and Red Wash fields; Shell Oil paid $1,189,177 from its Altamont properties, and was followed in third place by Texaco's payment of $711,020 from the Greater Aneth and other properties. Other payments exceeding $100,000 were made by American Quasar Petroleum. Flying Diamond Corporation, Gas Producing Enterprises, Gulf Oil Corporation, Koch Exploration, Mapcolnc., Phillips Petroleum, Superior Oil, Tenneco Oil and Union Oil of California. In the mining industry, Kennecott Copper Corpora- tion paid $2,032,411 from its Utah copper properties. In 1976, Kennecotts payment was $1,588,003. Rio Algom Corporation's occupation tax on its Lisbon uranium properties amounted to $80,750 and the United Park City Mines Company paid $78,864 from the Ontario Group mines. Iron ore companies paid $64,285 from the Iron Springs district, and $44,566 was paid by Chief Consolidated Mining Company and Kennecott Copper Corporation from the Burgin properties. The analysis of information further shows that 46 oil and gas companies paid 1977 occupation tax from 88 oil and gas field operations. Twenty-si- x uranium companies made payments from 44 mines. Eight copper, gold, lead, silver and zinc produces in Utah paid occupation taxes on as many mining properties. Five companies in Utah are producing iron ore, beryllium and tungsten. U&l sends payment Sugarbeet growers in Utah have received a second additional payment from U and I Incorporated, averaging $1.03 per ton, for sugarbeets harvested and delivered last fall. The total received to date for the 1976 crop in Utah comes to $5,032,024, or an average of about $19.66 per ton of beets. By comparison, growers had received $7,555,470 or about $28 per ton, by this time a year ago for A final their 1975 crop. payment and settlement for the 1976 crop will be made in October. The lower payments this year are due to the depressed sugar market that has continued through the year, said Lawrence Smith, Utah District Manager for U and I. Under the participating contract, beet growers share with the processor in the sale of sugar made from their beets, Smith explained. |