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Show July 8, 1955 TOCKS TO WATCH By O. D. Quinlan Radiore Uranium has awarded Sterling Uranium Co. .is proand commercial a contract to the D. & L. Drilling shipping ducing ore from its at Co. of Blanding, to drill the 200 property grade AvMonument Ariz. acres which Radiore leased from Valley, erage shipments are rfom 800 to the S. & S. Cattle Co. of San 900 tons per month. Company is currently working on a promin gram of stripping ,open-pi- t Conore. of and upgradng ing struction of an upgrading mill to take care of open pit mining of lower grade ore is contemplated in the near future. Company is well in the black. Two types of upgrading mills will function satisfactorily handling Sterling ore. The closer one comes to the consummation of the mill program, the more apt one is to witness a rise in the stock. Sterling will enjoy all year round production. When a new mill is completed and operating, officials expect to boost production to a minimum of 100 tons per Company has approxmate-l- y Not much 3,041,000 shares. stock offered. day. Lisbon Uranium Corp. has five separate ore bodies any one of which would justify sinking of a shaft. Speculation is rampant whether or not Libson may not have something big that has not as yet been disclosed . Juan county. Uranium Craze Speeds N. Mexico Mineral Develop merit Program Coal Fatalities Hit Decline A meeting of Moab Uranium Corp. stockholders is planned tentatively for next month, when it is expected a cash dividend will be approved that undoubtedly will give the stock a shot in the In Early 1955 fatalities in the United States during May totaled arm. with 36 during May An attractively illustrated spe- 28, compared cial stockholders report just off 1954, Acting Secretary of the Inthe press presents the companys terior Clarence A. Davis ansituation attractively, pointing nounced today. out the company is in a position Bureau of Mines fatality stato pay a contemplated cash dividend wih a total net worth of tistics for May are still tentative, $1,228,884.36. Company has leas- Davis said, but if the number ed out several properties to other of deaths does not increase it companies, obtaining 10 per cent will be the second time this year royalties on leases. The special that the monthly toll has been report indicates the cash position is so favorable that management held below 30. (An increase could is able to negotiate with profit- be due either to delayed reportable results, when opportunities ing or to deaths resulting later are presented for acquiring addi- from injuries incurred during tional properties. May.) The best month so far in 1955 was March, in which there Standard Uranium Corp. had were 27 fatalities. a net profit of $259,000 before e Last months fatality taxes according to a report of the s 0.81 per million of rate first four months of 1955. More of ima shows marked exposure of the earnings, or than over when 1954, May provement $147,000 occurred in April. Presi- the rate was 1.26, Davis said. dent W. R. McCormick, reported Nevertheless, he pointed out, the daily ore shipments in excess of record for the first five months 4000 tons a day for a $26.32 profit of 1955 cannot be called good. per ton. At current levels, earnFrom January through May ings for the first full year of operations, net before taxes, will be of this year, 173 men died in excess of what the public put e accidents, compared up to permit the company to go with 171 during the correspondinto business, President McCor- ing period in 1954. mick reported. The death rate per million manhours of exposure so far in 1955 is only slightly better than that Shumway Uranium is active of the corresponding period in and higher. It is the only stock the previous year, when fewer bucking the tide and moving upwere worked 1.03, stream obstacles notwithstanding. 1.05. with compared Unofficially, talk is abroad that hiss hit something that Shumway Underground fatalities so far so has hit this it something way big year total 148, including 123 could parallel Happy Jack. at bituminous-coa- l mines and 25 at anthracite mines. There were 15 deaths on the surface at bituminous-coal mines and 19 at Horse Canyon Uranium has started a road building program anthracite mines. and a drilling program that con"The continued high rate of templates 15 to 20 holes. This roof-fal- l fatalities gives further program will take three weeks, proof, if it is needed, that the and disclose data as to underlying seriousness of this menace canformations. not be overemphasized," said Bureau of Mines. Director J. J. Coal-min- e coal-min- man-hour- one-ha- lf a Fiji Fin The Western Mineral Surrey, Salt Lake City) Utah Run Uranium) drilled a hole to depth of 400 feet today in its Lisbon Valley claims and expects to reach the 450 foot level before the end of the day. Harry Metos, president said indications are favorable. Tom Costas, veteran geologist, is supervising the test. Some very big people are look at the potentialities of Silver Buckle Mining Co. and may join in the venture. Thunderbolt Uranium has a cash reserve of $165,000, owns $50,000 worth of equipment, and is one of the few uranium outfits who own their own drill rig. Favorable offers to drill other mining company properties have been received. All assessment work has been completed. Drilling in earnest will begin soon on the company's own properties. The claims are located near the Thornburg Mine outside of Green River. The stock is still a penny. coal-min- man-hou- rs SANTA FE, N. M. Discovery of two apparently commercial bodies of beryllium ore north of Sante Fe, and rumors of a third rich strike in the same general area within the past month have pointed up the fact that the uranium craze is tending to hasten the development of all forms of mining in New Mexico. In many other instances, besides the three beryllium strikes referred to deposits of other ores and minerals have been found by most overnight has become one those tramping the hills in search of the most vigorous and the of uranium. largest privately financed comin the. uranium field, operatpany With over 80 uranium mining New Mexico, Colorado, in operations in the Grants field ing Utah California. The comand alone, it is becoming increasingly was formed by merging all obvious that New Cexico will ulti- pany of the oil and mining, gas propermately become an important ties held United formerly by source of supply for uranium n States Uranium, ore. Corp., Santa Fe and the Border It has been reliably reported by Uranium Corp., Pueblo, Colo., and geologists that the Santa Fe Railprivate holdings of forty or road properties in the Grants large more individuals. field, being operated by the AnaNo public offering of stock has conda Corp., contain the largest been made by United Western known deposits of uranium ore Minerals. J. H. Whitney & Co., on the North American continent, and & Co., both of if not in the world. Half a billion New White, Weld York, 300,000 purchased dollars worth of the ore has been shares of the stock at companys blocked out reportedly. The com$1 a share and took an option pany is operating two mills and on an additional 250,000 shares at its exploration work is going the same price. basis. ahead on a United Western Minerals is In this same area the New headed by Alva A. Simpson of York firms of J. H. Whitney Co., Santa Fe, president and general Co. have taken and White-Weland Patrick J. Hurley manager, deal from the United a farm-ou- t of as Santa chairman of the Fe, Western Minerals of Santa Fe. board of directors. Other direcUnder conditions of the farm-ou- t tors of the new company, be. an immediate exploration prosides Simpson and Hurley, are gram will be started. Norman Pueblo-Souther- 24-ho- ur d Holdings included in the farm-ou- t in the Grants area consist of 52,000 acres of land. The New York firms also took the same farm-ou- t deal on 11,484 acres of United Westerns land in San Juan and Grand counties in Utah, where a similar core drilling exploration will be launched immediately. United Western Minerals, one of the largest privately financed mining operations in the uranium field at present, also owns and is operating one of the beryllium strikes north of Santa Fe. Mica is also being mined along with the beryllium, both sheet and scrap, first shipments of which went to the mill this week. Both state and federal land offices are still doing a rushing business in filing uranium claims and leases. Of the 13,000,000 acres of state land administered by the State Land office, approximately half of the total acreage is now tied up with leases . Although formed only last April, United Western Minerals al- - A. HOGLE & CO. Member Salt York Stock Exchanges Lake-Spokane-N- ew We Specialize In Mining Stocks Loans Made on Listed Mining Securities 2380 Washington Bird. 132 Main Street Forbes OGDEN SALT LAKE CITY 523 West Sprague Ave., SPOKANE 35 North University, PBOYO Members Salt Lake Stock Exchange IN MINING AND OIL STOCKS 401 Newhonse Building Phene Salt Lake City 1. Utah on Available Circular Offering 76 GRAND DEPOSIT MINING CO. Name Please Send Circular to Street City State- -- said that 2. Minimum standards for sys- 54 tematic roof ' support, suited to the conditions and the mining system employed, should be followed at each mine, and additional support should be provided where necessary. 3. Advancing beyond artificially supported roof should be prohibited, except for persons assigned to install supports or inspect working places. properties in history. W E M C O JAEGER AIR COMPRESSORS 1 125 cfm Portable Gas 1 210 cfm Portable Gas 1 600 cfm Portable Diesel THOR ROCK DRILLS Sinker with Leg 1380 Drill with leg 2 38 LONGYEAR DIAMOND CORE DRILLS 1 Model 24 Jeep Mounted MINE HOISTS 1 Vulcan Denver with Engine 1 Skagit GU-5- , single drum VENTILATION EQUIPMENT 1 SUTORBILT Model 3 Blow- er ft. Mine Vent Tubing KOHLER ELECTRIC PLANTS 1 Model 1.5M25, 1500 watts 1 Model 5A21, 5 K.V.A. Consult Us For Your Mining and KEMP & KELSEY SERVICE Metallurgical Equipment 150 H. P. SUPER CUBS NEW USED For Sale For Rent WESTERN MACHINERY CO. Salt Lake City .Utah, 2300 South Main St, Grand Junction, Colo., US 6 & 50 West 2400 W. 7th Ave. Denver, Colo. Classified Adv BONANZA'S Charter - Exploration - Surveying Air Taxi SALT LAKE universal adoption of the following recommendations derived from Bureau studies, could do much to reduce the incidence of roof falls: 1. All mine personnel should be trained in accident prevention. COLTHARP INVESTMENT, INC. BB0KEBS For years, he said, roof falls have been the No. 1 killer in coal mines, and Bureau records show that both the number and rate ot fatalities attributable to this cause were higher during the first five months of 1955 than during the cprresponding period last year. Dike, Thompson, Conn.; Wilson Hurley, Albuquerque, N.M., and Benne Schmidt and John J. Schemmer, both o( New York City. Establishment of the company, which is a Delaware corporation, constituted one of the largest single consolidations of uranium 100 Forbes. J. S. MUNICIPAL AIBP0BT Ph. Salt Lake City, Ut. GAMMA-O-METE- R $149.50 THE W0NDEB TOOL for nraninm and Easily detects BURIED ore deposits. More tborinm prospecting. Sensitive than scintilla- tion counter. NO confusing background count. USE FB0M PLANE or on FOOT. Money back performance guarantee! A-E-- 45 BUT BB0ADW1Y, Ml A Like City 75 CAR, |