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Show rue 24. 1955 To Double Output Mining Firm Expands In Utah Colo. Field Tar Baby Readies Ore Shipment Boyles Brothers Drilling Company is timbering fpr a new shaft at the Spring Water claims (Shumway) of Tar Baby Mining -Company. With the aid of a crane and American Gilsonite Cp. will increase production from 500 a drag line daily progress of 10 tons daily to 1000 tons in its eastern Utah and western Colorado feet is reported. Shipment of ore is expected to begin in less mines, Ernest F. Goodner, president, announced this week. than three weeks. Total expansion costs will be 10 million dollars, he said. The company will adopt a hydraulic mining method to effect the crease. Mr. Goodner said the firm was also planning construction of a revolutionary type coke and high octane gasoline plant in western in- - SEC Revisal be will Gilsonite Colorado. moved from the mine to the plant in a pipeline built through Colorado. These new advances will he completed next year, he said. A location for the plant to produce coke and high octane gasoline Rex Firth, president of Desert has not yet been picked, he Queen Uranium Co., announced added. today that the company has reThe new mining method to be vised its application to the Seinstituted in the Utah and Colo- curities and Exchange Commisrado mines will make use of sion. water under pressure to tear the It asks permission to sell only brittle, black hydrocarbon from 150,000 shares of stock at $1 a the veins. at share a public offering, inThe new method will prevent stead of $250,000 at $1 as origcollection of fine dust such ss filed. that believed to have been re- inally The reason for the revision, sponsible for explosions in the mine in 1953. It will also do according to President Firth, lies the fact Desert Queen finds away with the use of explosives in not require the larger it does such as carbon dioxide cartridges axhount of money. He announced and black powder, Mr. Goodner that clearance is expected within said. two weeks on the revised appli- Asked by Desert Queen cation to the SEC. Sheba, Inc., Starts Core Drilling' OGDEN, UTAH Sheba Ura- nium, Inc., has started moving in heavy equipment upon its Indian Creek property, 40 miles southwest of Moab, it was announced by A. E. Witt of Ogden, president of the company. Core drilling was scheduled this week, as the company prepares to push exploration work on its 37 claims in the Moab area. The camp has already been set up, Witt said. The Blight That Failed Petroleum chemists are working to put more toothsome fruits and vegetables on your table by means of a new chemical with a The suba made from stance, fungicide is 2, pertoleum, jaw-breakin- name. g which in'an oil at been has developed coneffective dustry promises trol against fungus blights of fruits and vegetables. In compliance venture contract . with a joint with Vitro Chemical Corp., that organization is supplying all of the finances for drilling and exploration. They expect to be in production within two weeks. Desert Queen contributed 74 uranium claims to the venture and Vitro Chemical 32 claims, the latter financing the work program. The property is 17 miles northwest of Green River. Desert Queen was incorporated June 11. Lindquist Securities Specializing in Trading Oifices in Provo, Utah 156 N. Univ. Ave., FB 89 Salt Lake City, Utah Atlas Bldg. I. I. this week, Zinc moved up the price increase predicted here several weeks ago by a Spokane Stock Exchange official, upon his return from New York and gave a much-neede- d hypo to the market. mining Demand has been excellent for prime western grade zinc in recent months. High grade zinc used in has been in short supply because of heavy consumption by the booming automobile industry. Stocks of zinc in producers hands are at at he lowest in three years he end of May a total of 63,184 tons, down 11,935 tons from April. With the union setlement made by Ford and General Motors, demand should continue die-castin- Most people have heard at least one story about some Texas oil man who made millions of dollars overnight. But how about the thousands of men who have risked everything on a duster? Oil men play long odds in their search for oil. Take the case of one Texas operator. In the past 15 years, he has drilled 188 dry holes at a lost of nearly $2.5 million and hes still searching. The average wildcatter gets a duster eight out of nine times. It takes plucky operators to provide the new fields that increase the nations oil reserves. Oils Ilall of Fame A new Hall of Oil Geology, probably the largest and most complete in the country, has been opened at the American Museum of Natural History in New York City. One large oil company and many oil service companies cooperated with the museum in preparing the project. About two million people visit the museum every year and are expected to view the exhibit, which tells the story of petroleum from its origin millions of years ago to its countless uses today. g ... sampling by AEC geologists. Uranium content was .35 to .80 per cfnt uranium oxide over a distance of 35 feet in cut no. 1, and in cut no. 2, from 200 feet to the west, the average was .50 per cent. It is planned to hold grade at from .25 to .30 per cent when shipment starts next month under a contract with the AEC. The mine is near Mount Spokane. Jack Waite shot ahead on the Spokane Stock Exchange on the strength of eastern buying orders. Sales were made up to 23c Rumors circulated today that the operating company, American Smelting & Refining, has made a rich copper strike at the mine in the eastern section of the Coeur d Alene mining region. 12c ' per pound Ilecla Mining Company estiis zinc for lc above the mates it will show a net profit price Ahat price prevailed prior to of about $120,000 for the first 5th. half of this year, after providing April $50,000 for exploration of minThere is speculation that ing properties. In the first six Reeves Mac Donald Mines and months of 1954, the net was $155,-48perhaps some other predominant The financial report accomzinc properties might reopen as Dividend No. 314 for 5c a panied a result of the zinc price boost. to $50,000. The share, amounting Reeves directors will make a deIdaho firm has started Wallace, cision soon. Company officials shaft work at the former U & I would not comment otherwise. Uranium with (now Before the shut down, because of Federal Uranium ofmerged RaNevada) low zinc prices, the British Col- don in the Big Indian property umbia operations provided large district of San Juan County, dividends for their parent Pend Utah. The ore bed should be Oreille Mines and Sullivan Min- reached fall. Hecla has by early ing Company, jointly owned by spent $300,000 at the property so Hecla and by Bunker Hill & far and is building $180,000 worth Sullivan. of workers houses at Moab Lead Stocks have also been re- Utah. duced and consumer buying has Polaris, Heclas subsidiary, rebeen holding up satisfactorily, ac- ported a five months' net profit cording to trade sources. The of $179,407 before depreciation, copper market continues to boom depletion and amortization vs. and a leading trade magazine $280,905 a year ago; Ore sales comments that the red metal is declined from 1,439,76 to 1,186,-88being consumed at a rate that The Silver Summit east drift continues to confound the ex- has progressed 6,390 feet to a perts. point 1915 feet from Rainbow Daybreak Uranium hit ore at ground. the point in Hole No. 4 Highland Surprise acquired a drilled being by the Atomic Enuranium prospect adergy Commission. The ore zone joining Ranson Brothers uranium was reached yesterday, and at mine near Blanding, San Juan last report their drill still was in county, Utah. Good surface radioore. The hole is about 150 feet activity has been reported and north of Hole No. 1, which proves drilling tests will be shallow. Up an estimated 40 cars of comConsolidated Mining & Smeltmercial ore. The new drilling site is about 50 feet north of a fault ing of Canada declared a semi-annudividend of 40c a share, zone noted in the original bulldozer cut through the ore struc- amounting to more than $13,000,-000- , ture. Hole No. 1 was south of payable July 15th. The firm the fault. Mineralization was also has settled 1955 contract negotiafound in a shallow hole drilled tions with the Mine, Mill Union 200 feet west of the discovery providing increases of 5c per cut. Officials of the Company hour and increased insurance released results of channel and holidays. good. The new 5. 8. FRUEHAUF TRAILER CO. (W. P. Quinn, Branch Mgr.) 1082 SOUTH 2nd WEST Salt Lake City Phone 18-fo- ot 35-clai- m ROTO ROOTER Salt Lake Counties Only Roto Rooter Operators al Sewer Stoppages Floor Drains For Competent V. E. or Irene or Irene or Irene or Irene or Irene or Irene or Irene or Irene or bene or Irene or Irene or Irene or Irene or Irene or Irene & Anderson company, 612 Dooly Building, Salt Lake City, Utah, on the 5th day of July, 1955 at the hour of 2:00 pjn., to pay the' delinquent assessments thereon .together with the cost of advertising and expenses of the sale. REED L. REEVE, Secy. 612 Dooly Building Salt Lake City, Utah Date of first publication June (7-1-5- 5) 9-31- Woik Call 43 Company 1946 and in accordance with law, so many shares of each parcel of such stock as may be necessary will be sold at the office of the 17, 1955. Good Oil Man Down 76 (Continued from Page 6) I. You Cant Keep a SPECIALIZING IN 22-58- LEGAL NOTICES 150 Stoker, K. L. 151 Stoker, K. L. 154 Stoker, K. I,, 155 Stoker, K. 188 Stoker, K. L. 188 Stoker, K. I 190 Stoker, K. 198 Stoker, K. L. 199 Stoker, K. L. 810 Stoker, X. h. 811 Stoker, K. L. 313 Stoker, K. L. 318 Stoker, K. L. 388 8toker, K. Ii. 670 Stoker, K. Page Seven The Western Mineial Survey, Jnne 24. 1955 MEMBER SALT EXCHANGE LAKE STOCK BROKERAGE UTAH MINING AND INDUSTRIAL SECURITIES 500 Newhouse Bldg. SALT LAKE CITT, UTAH PHONE 62 VERDS SAVEWAY SERVICE BEEIHE MS roa LESS Premium Quality Products Gas, Oils at the Lowest Possible Prices. Expert Lubrication, Tires. Batteries Accessories Verdon Heaton, Manager 3006 Highland Drive PHONE 71 "GREENBACKS WITH EVERY PURCHASE" Notice of Special Meeting of Stockholders of Mineral Valley Gold Mining Company Notice is hereby given of a special meetng of stockholders of the Mineral Valley Gold Mining Company, which will be held at the Newhouse Hotel on Thursday, July 28, at 3 p.m. for the following purposes: To vote on a stock merger with Treasure Mountain Mining Company of Utah. 2. To transact such other business as may properly come before the meeting or in the adjournment thereof. 1. Only stockholders of record of July 20, 1955, will be entitled to vote at this meeting. BY ORDER OF THE BOARD OF DIRECTORS, Russell Cashin, Secretary |