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Show July 8. 1955 Page Savei The Western Mineral Surrey, Salt Lake City, Utah Uranium TO HOUSE MORE THAN 50 TENANTS, 900 EMPLOYEES Moab Firm Motes Sharp :inancial Rise in 54 Buys Stock Survey Denver Bureau MOAB, Utah Aircraft In terest in Thieblot Aircraft Company, Inc., of Bethesda, Mr., ac cording to an announcement by J. Carlton Ward, Jr., president of Vitro, and Armand J. Thieblot, president of Thieblot Aircraft. The purchase was completed on July 1. Thieblot Aircraft will proceed immediately to construct large additional facilities for engineering and production at The firm is the Moab Uranium Co., Principal officers of Moab Uranium are C. M. Hickman, board chairman and executive vice president; Joseph Kejr, president; and R. A. (Bob) Pitzer, assistant executive vice president. W. Va. Acquisition of the, interest in Thieblot Aircraft will permit Vitro to obtain greatly expanded development and production facilities for electronic, electromechanical and weapons systems and wil Isupplement the existing facilities of Vitro Laboratories Division, chiefly the Silver Spring, Md., laboratory, which is engaged in numerous developments, largely for the Navy, in underwater ordinance, guided missies and other weapons sys- A special report to Moab Uranium stockholders, distributed today, says total net worth of the company now is $1,204,030. This, says the report, represents an increase of $922,266 since July 26, 1954, when sale of the comstock issue panys $125,000 started. The special report to stockholders is published in an booklet illustrated with color scenes of the uranium country and company property. The report says in part: eye-catchi- tems. g, W. Va. Vitro Corporation of America has five operating divisions and one subsidiary and is engaged in the mining, milling, processing and refining of uranium. On the date of the public offering (July 26, 1954) Moab Uranium Co. held interests in mining properties valued at $206,750. Today Moab Uranium has interests in mining properties valued at $968,870.54, an increase of $762,120.54. S. L. Bank Plans Opening; Black Since copy for the report was given to the printers, Moab Uranium has disclosed the discovery of a new ore body, with an estimated value of $300,000 on its Rlmrock claims. Other asset shown in the report are in gains machinery, office equipment and real estate other than mining claims. Boasts Uranium Accounts panys cash position tentative August opening date has been set ioi the First Security Banh Building located on 4th South and Main Streets in Salt Lahe City. The A building, erected at a cost oi $2,500,000, to will honse 50 tenant companies employing more than 900 persons. $3,-000,0- 00 They also have programs for recovery of rare metal3, chemical and physical research, develBy O. D. Quinlan opment of processes, instruments and equipment systems, operation Uranium mining s beneficial influence on the business growth of test facilities manufacture of of Salt Lake City is reflected to a degree in the substantial num-oe- r ceramic colors and chemicals, of new accounts opening up periodically with the First and the design and engineering of processing and manufacturing Security Bank. modThe bank will soon open its commodious new plants and other technical facilities. at the southeast comer of Fourth South and em office 12-sto- ry Vitro is heavily involved in the atomic energy program and is the only American company now engaged in a operation in that field, from the research and mining stages through engineering of completed nuclear facilities. Advertise In The rd . . WESTERN MINERAL SURVEY Reach an Interested market! SINCE building Main. Tentative opening date is late August. Recapitulation of the volume of business transacted by First able space has been spoken for to Security in 1954 and for the first half of 1955, shows a substantial date, bank authorities disclosed. number of new accounts, growing When rented at capacity the out of expansion of uranium minbuilding is expected to have being and affiliated enterprises. The new bank, which will re- tween 40 and 50 tenants housing lieve pressure of business at First about 900 persons, officials anSecurity's main bank at First ticipate. South, and it's branch at ExOne tenant already occupies change Place,, is estimated by bank officials to represent a cost space in the new building. Others of $2,500,000 to $3,000,000. plan to move in prior to AuThe structure includes a three-stor- gust 1. annex at the south of the main building, facing Main St. A total of 150,000 square feet Almost 90 per cent of avail of office space will be available in the building. y 1898 THE PLACE TO GO DEPENDABLE GUABANTEED RECONDITIONED F0H CATALOG 541-- KE (Continued from page 1) Establishment of the mill in this area, a project spearheaded by Senators Karl Mundt and Francis Case ( Rep. S.D.) indicates that the Black Hills area, once the center of a gold rush, may parallel the Colorado Plateau as a major center of uranium production. At the groundbreaking 61 cere- monies Gov. Foss stated: Edge-momay well become the Pittsburgh of the atomic age. Authorization by the Atomic Eenergy Commission of this mill bears out our hopes that South Dakota can look to uranium as a vital new industry in the economy of our state: and that America can look to South Dakota for a vital contribution to the atomic needs of this country for peacetime and defense. The Edgemont area, in which the mill will be located, is rich in Carnotite and the radioactive lignite. Extent of current mining operations in the region can be measured by the report that one operator alone, the Edgemont Mining and Uanium Corp., A. P. Kibbe & Co. will occupy has produced over half a million a suite of six rooms on the third dollars worth of ore since startfloor of the main building. ing its operations in the area. (Names of other tenants will be released as soon as clearance has been obtained. (Continued from page 1) facilities will be pro- Parking W MORSE BROS. MACHINERY COMPANY 2900 BRIGHTON BLVD.. DENVER. Hills Area Gets Uranium Mil nt vided for 160 cars on bank property which faces Church and 4th South, bank officials said. Their hope is to concentrate employee parking in easy access of the new building. The report shows the com- is strong, and points out that this enables manto negotiate rapidly agement and with profitable results when opportunities are presented for acquiring additional property." Much of Moab Uraniums holdings have been leased to others for operation, with the company retaining royalties on production. But the report said the company hopes to build its own production to 60 tons daily soon, exclusive of production from properties operated by others under lease. The outstanding performance of the company, says the report, has resulted in a number of merger proposals from other firms. The special report was acdom-panie- d by notice of the annual stockholders. meeting, to be held in Moab Aug. 1. to 15 per cent royalty on all production, and 25 per cent of all bonuses. United lists Pennell claims among its finest properties, according to Souvall. Fennell claims were recently surveyed by Mine Services, Inc., and the company has staked several fraction claims as a result of that survey. The assessment work on the properties for 1955 has been done and proofs filed in Panquitch, Souvall reports. The company has started sizeIncomplete reports indicate that 17 of the first 27 holes were able drift on its unleased claims in three feet of .70 to 1.50 per adjacent to Lone Star, Souvall cent U308, he said. said, and has stockpiled considUnited Western leases 12 Pen- erable ore as well as making nell claims and pays 12 percent several shipments. Pennell Merger MINING MACHINERY SEND which jholda Interests in more than 2,300 mining claims over the Colorado Plateau. Mar-tinsbur- g, Thieblot Aircraft is an engineering concern engaged in the design, development and production of component parts for aircraft, and ordnance systems for aircraft use. The company employs about 275 personnel, and in addition to engineering offices in Bethesda, Md., has an experimental and production manufacturing plant at Rockville, Md., and operates under lease the Municipal Airport at Martins-bur- A uranium company financed by a five-cen- t stock issue totaling only $125,000 reported here today its net worth has increased nearly one million dollars in less than a year. Vitro Corporation of America, New York City, has purchased for cash a substantial stock in- cross-the-boa- Uranium Firm |