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Show Tor METAL PRICES Information On Stocks Uranium and Mining Copper 33 Lead IS Ziu WVi Vol. Sill Ukt City, trial. Muck 26; No. 9 Uranium Str Will Brir nange Prices v 1. 1955 Moab Mines Will Develop Claims One Year $3.00 :7rfP: And Silver Reef Upetco Buy 80 Claims In House Rock Valley, No. Arizona William J. Owen, President of Moab Mines, Inc., announced 30-D- a' y'.e Trading Urged plans for exploring and drilling -As Ren 145 claims the company controls. Hasty Trading Some are In the Seven Mile area, Joint, purchase of 80 uranium claims in House Rock Valley, A new stock t , nge for regulatory supervision in the others near Blanding, and still near Marble Canyon, Northern Arizona, by Upetco and Silver Reef trading of uranium stocks, patterned somewhat on the rules govUranium Companies, was announced today by Reed Tuft, Secretaerning the Salt Lake stock exchange, appears to be the answer others in the Big Indian district. of Upetco. to the problems arising daily among brokers and customers. Finally there are two school ry-Treasurer A. M. Buranek, geologist for Upetco, described the claims In connection with advocacy of such an exchange, is a sug- sections three miles west of the as most promising uranium potentials he has examined in the gestion that the board of directors of the exchange would be em- Rattlesnake mine. the past two years. He said ore zones are exposed up to 60 feet powered to restrict trading in new stock issues until 30 days has elapsed from date of issuance of the stock. When the public purchases unseasoned issues, naturally customers are hopeful the stock will enhance in value in a few days. A restraining period of 30 to 60 days before trading if allowed, would afford an opportunity for a new stock to develop potential power not to be expected on the spur of the moment A well regulated uranium stock exchange would also temper the appetite of buyers who are inclined to turn over their stocks at a one cent profit Jay Walters, who has done a great amount of trading said such an Exchange would create uniformity of prices and eliminate the practice of buying and selling indiscriminately. Brokers eager to make commissions both from a buying and a selling standpoint, very probably would make more money in the final analysis as a result of a 30 days waiting rule, than is obtained through the helter-skeltbusiness of selling on a one cent profit The class of customers who resort to quick selling practices with a meager margin of profit is estimated to be but 10 per cent of all customers. However, their influence is reflected unhappily upon the remaining 90 per cent, whose confidence is shaken when they observe a temporary decline in market value due to hurried sales. It is unreasonable to buy stock at .01c a share and dispose of it at .01 Vic. If properties of a uranium company do not prove up to anticipation,' the regulatory system of ah exchange' would also give an opportunity tp ascertain a stocks exact value. The brokerage house would then avoid the offering of a stock to the public at inflationary prices. For example, let us cite that Imperial at .01 V2 cents a share strikes some good ore and on merit advances to .06c a share. Allowed a chance to advance on actually merit of the issue, the exchange rules will discourage the practice of switching stocks. It is true the rules might slow up incorporation of new companies. But, at the same time, those who had invested money in the corporation will be sure they have an investment rather than a piece of paper which has been artifically inflated in value before it is actually put to the test of values. Activity in uranium securities is the poor mans opportunity to get into stocks. Creation of a uranium stock exchange would be an enlightening and protective influence against indiscreet practices that often undermine public faith in the entire securities structure. er Vitro To Explore Gas Hills Claims Vitro Uranium Company is making important preparations for drilling and exploration of the Gunnel claims near Lander, Wyoming, which it recently acquired for a reported $130,000 Jack from Sateco Uranium. ore Vitro Horton, department manager said a large bulldozer and power shovel will soon be operating to strip overburden and dig and load ore. The claims are southeast of the Lucky Me. Copper Carbonate Topic Of Seminar Grounds At Draper Will Start Soon Standard Has 0.80 Ore In Gas Hills Planet And Globe Join Lone Star In Latest Big Merger A new syndicate presently being organized by W. L. Davidson, New Mexico, Albuquerque, as Lone the Star Mining known Development Corporation, will include both Planet Uranium, Inc., and Globe Uranium, Inc. in a merger with Lone Star, as soon as the necessary stockholders approval can be obtained. sity of Utah. A large display of oxide and silicate will be a fea- Titanium And Oil Income Plus Uranium, Boost Ula 10,000 Acres And Blocked Out Ore Add To Potentials Of Texas Group Of Operators When Ula miners recently beA multitude of favorable factors combined this week to put gan to tunnel back from the rim the spotlight on Ula Uranium in order to hit their ore body, Corporation stock, which has which drill holes indicated was spiralled substantially on the 300 to 400 feet back from the board. rim, they encountered ore 80 feet uranium This practically new company back. As a result stockpiling is has a diversity of interest which now underway includes 18,000 acres of favorably Ulas property is 11 miles from situated uranium land, a large the famous San Manuel copper amount of blocked out ore, shipwhich is a $200,000,000 ments to begin in 20 days, owner- operation deal. We also have reason to beship of 5,000 acres of potential lieve that Ula has quite a copper titanium land and oil royalties deposit. from producing oil wells. Ula has three core drill rigs The fabulous potentialities of Ula are indicated from a long operating in the White Canyon distance telephone conversation district. Tnis work will be conwith Ulas president, A. V. Hutch- tinued for the summer. The U.S. ings at Dallas, in which it was Geological Survey has prepared er Uranium ore assaying 0.80 has uncovered by Standard When winter weather breaks, it Uranium on three 17 is expected American Smelting to 19 footCompany in the Gas deposits & Refining Company will start Hills, district, it was Wyoming breaking ground on the prison disclosed by Roger Evans, gengrounds at Alta, in a search for eral manager. ore, precipitated by the discovery The discovery is the richest of anomalies. ore thus far located in Natrona It was announced today by to Evans, who Atty. Joseph F. McCarthy, coun- County, according indicated the future prosperity out assays of drilling of sel for the State Land Board, pointed this new uranium discovery is usually show lower percentages that an agreement has been ar- than frought with unparalleled promrived at between his Board and ore. actually contained in the ise. A digest of President Hutchthe American Smelting & Reings remarks follows: "The Ula incline is now into fining for the mining concern to drill for possible mineral de- land is to cost the company 50 the shinarump. The drift is stock The agreement piling a low grade ore of about posits on the prison property. cents an acre. The company has indications stipulates the company must start .20. The drift is back about 80 there might be some extensive drilling by next July. Mining feet and the incline is 200 feet ore bodies there. Engineer H. Richards, represent ITiracpects'to'be shipping Tn not said the agreement ed the company in the negotia- more than 20 working days, to McCarthy scale on based a is royal- tions. the buying station. sliding Ula has acquired about 5000 Copies of the proposed agreety, predicated upon the companys ment mailed the to acres of placer claims in Arizona have been net smelter or net mill return. Inasmuch as the company is in- state board of corrections, the on which a core drilling program terested enough to start work state road commission and the is starting. We are evaluating and tie up a large amount of American Smelting & Refining other property from the titanium acreage with a drilling program, Company. It will be necessary standpoint. Samples thus far, inmuch speculation arises as to for the mining company to work dicate from seven to eight per the ultimate outcome. The Land out details of its program with cent rutile and about 17 per cent Board has made available 1,097 the state board of corrections, illunlnite and the balance is been 50-5- Miss Olivia McHugh will give ture. a seminar on Copper CarboFollowing the discussion period nate, at a meeting of the Utah Platt will give an Kenneth Mineralogical Society, to be held 8- - oclock - in at.a., trip Tuesday evening the Geological Building, Univer- - to Egypt. over-the-count- Drilling On Prison in length with a minimum of six feet in thickness. 0 deal between It is a Silver and Reef, Mr. Tuft Upetco a map H-1- 6 which is interesting indicating as it does that the big jurrasic channels are outcropping under the wingate cliffs in the Red Canyon district. This is considered by the U.S. Geological Survey as one of the most promising discoveries on the plateau. This map is available at the -- acres of state land. Use of the McCarthy said. Ula now owns 18,000 acres in that particular part of the Red Canyon. It was learned from other sources that Ula is obtaining royalties from production of oil from four new wells recently brought in near New Orleans, Louisiana, by Haralson H. Hunt, influential and wealthy oil operator of Texas, and a close friend of Mr. Hutchings. said. Mr. Tuft reported initial ship- ments made by locators assayed up to .50 per cent uranium oxide. He said many other mineralized areas in the channel show features of shinarump conglomerate, and trash accumulations in overlying chinle formation out- ; v crop on claims. He said several outcrops contain commercial ore. The claims are located near U. S. Highway 89 at a point where the highway crosses the Colorado River. The area is immediately north of Upper Grand Canyon. It is planned to make ore shipments to Marysvale, Mr. Tuft said. It is reported a buying station will be established in the vicinity of the newly acquired claims. Tuft said Upetco is preparing for immediate full scale development and mining program under the direction of Jesse Aber-nat-h, Upetcos field superintendent. He added that small stockpiles and ore faces, make it possible to begin immediate Salt take Stock Cxchanye The information listed below if derived from sources regarded as reliable, not fruuranteod, but believed to be correct. |