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Show ,. . . 1 itVBST dhir a A s -- at jj, 47 For METAL PRICES Information On Stocks Uxaninm Ceppei 33 Lead IS Zinc UK VeL and Mining 26; No. Salt Lake City, Utah. 1 One AiLft'1955 Yeai $3.00 .t'i Segregation For Urar Tie-I- n Death ofHymie ned Guss locks By His Friends ang dual segregation in the selling of .uium business, on a program apart from that of listed stocks uf the Salt Lake Stock Exchange, is urged by Jay Walters, promoter. He gives reasons the distinction be main' tained. Membership on the Salt Lake Exchange is too expensive lor 90 per cent of uranium and mining companies, according to Walters, who doubts if the Salt Lake Exchange would accept them until they have had an opportunity to build resources to the status of operating companies. Declaring it would be a wonderful thing to have the two if it could be consolidated, achieved, Walters was of tire opinion such a program would injure the stock market more than it would help, due to the limited amount of business done on the local stock exchange. He also was of the opinion a certain number of brokers doing business here would necessarily be Uranium Land Fees Cover Cost of Court House, Addition. ' Plans of Job Prepared; By Fetzer and Fetzer $139,000 ; Monticello Funds collected in fees for' filing! uranium land claims the past two years, are to pay in a large measure for a $139,000 new addition to the County Court House, to be erected here. According to specifications by Fetzer and Fetzer, Salt Lake architects, the second floor of the building will, be entirely a jail for juveniles, boys and girls. Also on the second floor will be the Sheriffs office and a matrons office. On the ground floor will be the recorders office, vaults, photostutie rooms, for claim, rs? cordings and a room for accom modation of lawyers. hurt. There should be two segregations, one over the counter, and out the amount of business is Walters said. He pointed . change one over the local stock exsmall on the Salt Lake Exchange compared to business volume over the counter and with two segregations people would have clarification as to what they are Lenora Has 5 doing. He said no information comes out of the local stock ex- In 100 Colorado 1 change. Walters said dealers in uranium issues need an organization with a man of the calibre of Harry B. Metos, as director and advisor, to iron out problems. He expressed the opinion Metos is qualified to guide such an organization. He urged obtaining executive headquarters and getting the wheels in motion. With an association headed by Harry B. Metos to advise as to law, Walters said he can see success. Incidentally he said it would reduce problems of the state securities commission chairman, readily clarifying many situations. - Major Ore Body Found North of Desert Queen Plan To Drill 20,000 Feet Near Site Discovery of a major ore body on the San Rafael Swell, one half mile north : of the Deseret Queen claims was reported today oh property of Voy & Voy, a New York syndicate, drilling their own claims. Officials are reported to be planning another drilling program over an area of 20,000 feet in the immediate vicinity of the ore discovery. The discovery is regarded as a boon to Desert Queen prospects, removing the speculative atmosphere from that company by reason of the fact a good ore body has been encountered so close to it. Desert Queen is engaged in a joint venture operation with Vitro Minerals Corporation in proximity to the discovery. . -- V w 0 exchange alters Says W Grieved1 The sudden and tragic death of Hymie Guss this week stunned and grieved a great multitude of friends here inthe intermountain west. Known and loved for his contagious humor and good nature and for his long-tidevotion to civic affairs, Hymie will be greatly missed by hig many personal and business associates. At 46 Hymie had established himself in the Uranium Brokerage business and was known as a very enterprising producer in a highly competitive field, pur-in- g the years he has held various positions in public .pmee including the post of Deputy County Assessor and State Secretary of the Democratic .party. . ; Among his family, and in all tile fields of social and business me : Outcrop Samples Indicate High Uranium Values cal features appear favorable for ore and cover an area of considerable size. He reported samples, taken along the outcrop on the surface, show high values in uranium. Although outside offers have been made to Leonora to participate in the mining of uranium, which appear attractive, Matson said examinations have been of deferred because weather. He said the result of negotiations will be announced at a latter date. Matson reported Leonora, has acquired land in 10 different counties' of Utah where major companies are doing development work. Leonora has adopted a policy of acquiring small acreage in or near proven oil fields, where geologic features, structures and formations seem favorable for oil or gas. Much of the acreage obtained by this policy has been assigned to major oil companies, 'Leonora retaining from two and per cent to four per cent royalty. The plan calls for small expenditure while affording an opportunity to profit from discovery of oil and gas. Leonoras profit and loss state- -' . three-fourt- hs over-ridi- ng Exchange Exclusively Twelve to 14 stocks traded by brokers here are not registered under the Utah state law, according to Hal Bennett, Chairman of Business Regulation, of the State of Utah. Bennett said brokers are obliged to notify the Commission before trading in unregistered securities. He said his office has knowledge the law has not always been observed. Discussing a new uranium stock exchange, Bennett said he believes the Salt Lake Stock Ex- Sun To Explore On change has adequate facilities to handle uranium stock trading. He Navajo Reservation through, that medLisbon Valley Claims ium would be the means of re' stasome of semblance storing Appeal To Major Company bility' to trading in uranium issues. As a to regisSun Uranium Company has tration, his office has asked ap- been granted uranium prospectplicants to apply for registration ing rights on the Navajo Indian with the Salt Lake Stock Ex- Reservation, according to Harry change. No. limit has been stip- B. Metos, President, who said a ulated as to time for so doing, prospecting crew will soon be however. While Chairman Bennett ad- sent to the Reservation. Drilling mitted good ..stocks have been of Suns 41 uranium claims . in issued, priced from a cent to a the Baggs area near Dixon, dollar, he thought low priced Wyoming, is planned to begin stocks should go on the board in 10 days, Metos also said. A from 10 cents to half a dollar. body of low grade ore, 60 feet He said it would be well for thick and several hundred feet companies requiring capital to in length was opened up on the start with an initial stock offer- Dixon claims last Fall as a reing price of $1.00. sult of bulldozing operations. We are fortunate to have as Sun geologists think the .progood a local stock exchange as wo posed drilling upeialiuiuf will have. Certainly, we like .to see disclose the source of the ore uranium stocks registeied on body, and that it ought to prove that stock exchange. I doubt it of rich content, Metos declared. would be feasible to have anIn 1954 an ore body 51 feet other stock exchange exclusively thick, with ore assaying approxitrading uranium stocks over a mately .20 was revealed as a reperiod of. years. I think compan- sult of drilling on Suns 14 claims ies that expect to do well; and located 20 miles north of Dixon, require capital, ought to be listed Wyoming. Drilling operations on the Salt Lake stock exchange may soon be resumed on this to provide an opportunity to get property, the President of Sun capital, Chairman Bennett de- announced. clared. When Sun Mining Corporation became the constituent company,' from a merger of four companies Steen Starts Work November 18, the new comOn 13 New Dwellings last pany was fortified with a $290,-00- 0 treasury reserve now availMoab Uranium profits play a to finance able and exprominent part in the residen- ploration on thedrilling 350 Companys tial building program here. At claims scaturanium potential least three commodious homes tered throughout Utah and Wyhave grown out of it. Included The Company owns outoming. among the new residences is that valuable mining equipment of Charles A. Steen, on a hill on right which there is no recurring for the east side of the main highoutlay. way, estimated to cost $60,000 to Sun recently leased 32 claims $70,000. Another attractive dwelling is to Indian Queen Uranium Comthat of Albert Hrbacek, head of pany, 13 miles south of Moab. the Moab Drilling Company val- The latter company recently ued at about $50,000. started ore shipments. Mrs. Rosalie Shumaker, mother Airborne prospecting of Suns of Charles A. Steen, has built an 153 claims in Lisbon Valley, reattractive new home in the center of Moab. The structure is en- cently conducted by a geologist sconced in the middle of an of a major mining company, has orchard near the center of the concentrated attention upon the town. It has five or six bed Lisbon Valley property believed rooms, two living rooms and a to possess good mineralization. said--businC- pre-requis- ite . Claims said. However, Matson said geologi- He Doubts Need Of Uranium . Interest Leonora Mining and willing Company has recently acquired a five per cent interest in 100 mining claims in Fremont County, Colorado, it was announced by John Matson, manager, in his annual report to stockholders. Some prospecting will be required to determine the value of the new discovery, the report Bennett Cautions Against Unregistered Stocks life engaged in by this personable energetic young man, his death leaves an unfillable void. MINERAL WESTERN The SURVEY wishes to take this opportunity to express very sincere condolences to the family and friends of Hymie Guss. We are deeply bereaved by the loss of a personal friend. Born Aug. 8, 1907, in Russia he was a son of Harry and Sarah Sirota Guss. The family came to Salt Lake City in 1920. He married Bernice Goldstein in Denver in 1948. Mrs. Guss survives. Other, survivors include his father; one son, Mark Victor, 3; one daughter, Robyn Lee, 5; two brothers and two sifters, Abe and Max Guss and Mrs. Rose Nord, all of Salt Lake City, and Mrs. Ann Nusbaum, Richmond, California. Funeral Services were conducted Monday by Rabbi E. Louis Cardon, assisted by the Reverend Harry Sterling of Montefiore Church. Burial was in Montifiore Cemetery. six car garage. Mr. Steen recently completed a group of 12 new homes on the west side of the main highway. He is building another 13 homes to be finished next summer. ment for the year ending December 31, 1954, shows a gross New m School income of $3,328.40 and total net loss of $3,964.55 for the year. Planned At Moab The Company had $9,723.53 cash Moab Claude Ashworth, on hand at the end of the year Provo architect is preparing 1954. Accounts receivable tflans and specifications for a ss room elementary amounted to $1,304.94 bringing new total current assets to $11,028.47, school here, which will cost the the report indicated. own an estimated $300,000. 20-Roo- 20-cla- Following a secondary checkup this week, it is expected a camp will be built on the property and exploratory work by the major mining company, begun. 10,000,000 Shares 'Offered . Shell Uranium Corporation is offering only 10,000,000 shares of stock to the public from a total authorization of 30,000,000. The remaining 20,000,000 shares Is treasury stock. y ( |