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Show 'r 4 fa "Ow V . tyHi$caHce in The Oil oh4 iHMhf ItiwlcT v Vel. 27 .No. 47 re Shafts Tar In San Jan. Big Indian Salt Lake City, Uranium Corp. Lisbon president today said two shaft, projects tapping new ore bodies in the Big Indian uranium district of San Jaun County have been completed and a third project started Contracts on the Ike shaft, which proposes to mine a three ore bodies in the north end of the district, had bottomed the project at 570 feet. Stations have been cut on the two compartment shaft and mining is expected to begin later this A. P. Kibbe, month. Meanwhile, Lisbon has awarded sinking of the 575 foot Columbia shaft to Boyles Brothers Drilling Co., Salt Lake City. Crews are on location- and work has started on the vertid shaft. Ore bodies located on four claims will be tapped by this venture. Centennial Development Co., Eureka, Jaun Cbunty mine contractors, have developed the big incline shaft on the North Alice lease of Homes take Mining Co. The shaft, approximately 2,800 feet in length, cut through ore in driving, and production of development ore., probably will - nt start shortly. Meanwhile, Centennial has Vitro Works Huge Drag Line in Gas Hills U. Pit commenced work on a 660 foot twocompartment vertical shaft for the Homestake United West ern partnership in the Ambrosia Lake District, according to James Quigley, Centennial executive. This shaft is located on United Western ground. UTOCO Boosts Crude Prices Utah Oil Refining Co. Monday announced a 25 cent a barrel increase in prices it posts for crude oil at Rangely, Isles and Ashley Valley fields in Utah and Colorado. The increases were announced by A. J. Badger, Utoco president. They are retroactive to Jan. 11 1957, Mr. Badger said. Since Utoco purchases a major portion of crude it refines, it is necessary for us to meet competitive prices for crude oil in order to maintain our supply. The increase cost of crude oil will affect product," Mr. Badger said.- - Industry wise the announcment follows those of Continental Oil Co., Phillips, the Texas Co. and others which hiked initially to 35 cents a barrel their crude quotations, then came down to 25 cents a barrel as other western and midcontinent purchasers failed to go along. Capitol Uranium Begins Shipping Ore The company a joint affiliate of Vitro Corporation of America and Rochester and Pittsburgh Coal Co., will jump output of ore from about 4,000 tons monthly to 8,000 Capitol Uranium of Farming-ton- , tons a month, Vitro Minerals vice N. M., is beginning to move President W. B. HALL, Salt Lake from ore its recently acquired City, announced Saturday. mine near Ol Jato, Ariz., on the Vitro presently is the largest Navajo Reservation. Officials reproducer of uranium ore in Wyo- port the first shipment to the Montiecello mill in Utah ran 0.32 ming. uranium oxide with drifting Because of restriction on sales pet. UF Jean.-- a to the Riverton and Crooks Gap still not in the ore body as outbuying stations of the Atomic lined by ABC drill holes. Energy Commission a large part of current production is being Assays of ore stockpiled at the show the average increasing mine stockpiled. The company has under consideration construction of a million dollars unit at Gas Hills, however. The higher grade material would be shipped to Vit-ro- s Salt Lake City concentrator now being expanded. Vitro also has developed "substantial additions" to its ore body on the Sateco and Out West claims in the Gas Hills district, Mr. Hall reported. The installation of the drag line and development of added ore reserves were under the immediate direction of Jack O. Morton, Vitro Minerals general manager, Salt Lake City. - Sundown Gets Drill Permit U-0- Generally, petroleum products increases of one to two price Salt Lake City Vitro Miner- cents a gallon from als Corp. has placed one of the crude hikes put resulting into effect in largest drag lines ip the uranium Texas and in midcontintinent industry into operation at its open states. pit properties in the Gas Hills District of Fremont county, Wyo., reports the Tribune. up-gradi- ir Salt Lake City, Utah. Friday, January 18. 1957 a ' , Sundown Petroleum Co., Salt Lake City, has been issued a Federal permit by the U. S. Bureau of Land Management for drilling a gas well on its Mesa County, Colo., property and, according to Sundown President Robert Crail, the company immediately will exagreeercise its ment with Knapp Uranium and Development Co. to begin drilling in the next few days. Site of the drilling location has already been selected by Krey and Schuh, Grand Junc- .Gulf Oil Corp. has announced location for its fourth development well in the Ismay sector of the Aneth Pool, San Jaun County. The firms Gulf Aztec Ismay Federal No. 4 is located 1,980 feet from the north line and 1,980 feet from the west line of section 7, Township 40 South and Range 24 East. More Savings Needp j Insure Future Expi. en m . NEW YORK CITY America porations derive savings for remay have become so engrossed in investment in plant and equipdividing up the values created ment, Mr. Blough reported that by its system of enterprise that they had declined 5.4 per cent multiplication of the nations eco- between 1950 and the fourth quarnomic capabilities may be serious- ter of 1956, while the national joint-ventuly neglected, Roger B. Blough, income increased 41 per cent and chairman of the Board of United compensation of employees climbStates Steel Corp.j said Tuesday ed 54 per cent. He added that, night in an address to the Eco- under present depreciation pronomic Club of New York. visions of tax law, a steadily inDeclaring that individual and creasing amount of reported profits must be used to replace worn-ou- t corporate savings are now tion, Colo., geological consultto insure the countrys plant and equipment, leaving ing firm. a accontinued economic growth steadly diminishing amount to Sundown has 1,162 acres unfinance to historical pattern, Mr. expansion and to attract der lease in the Gar Mesa area cording e new savings and investment. suggested that the exeu-tivwhich has been the scene re- Blough In the light of all these facts, and legislative branches of cently of successful producers the federal government join in I think we must conclude that for Amerada Petroleum, Kerr-McGewe have allowed our national pre"a realistic, S tandard-Beeh-i ve Ura- bringing about determination whether occupation with the problems of nium and other large companpresent tax laws are not curtailing division to interfere seriously ies. the formation of investment cap- if not dangerously with our caAt the same time, Crail statindustrial devel- pacity for multiplication," Mr. ed that Green and Dreblow of ital, restricting opment, and contributing to in- Blough asserted. Bakersfield, Calif., have sub- flation. Saying that it is in times of mitted the lowest bid in negoour greatest prosperity that the Tf our national stock of industiations for sinking an oil well seeds of future economic distress on its property in the trial plant and equipment is to are so often sown, Mr. Blough North Arvin area of the highly grow in accordance with historic warned that such a seed the seed trends, it is estimated that we productive Edison oil field in must increase it by somewhere of inflation is clearly flourishthe Bakersfield region. ing in our economic garden toWells near the Sundown between 40 and 50.per cent in the day. next fen years, Mr. Blough said. acreage currently are producU. S. Steels chairman said the Thai would require a progresing 120 to 150 barrels daily principal roots of the present inand all geological information sively increasing annual investmto an averages $65 bil- flation are wages that have been available indicates a high Sun- - ent-lip rising far more rapidly than prodown potential in this proven lion or very nearly half again as much as the record sum in- ductivity, thus forcing prices area. higher and higher; and the insufvested last year." of savings to keep pace In order to provide the capital ficiency with the demand for capital, thus for this expansion, it Is calculated an excess flow to bank that individual savings must be causing credit into the economic stream. maintained af the rate of eight In suggesting a per cent of total disposable na- of the economic effects of the tional income each year, but they present federal tax structure, Mr. not been accumulated at have A new program was initiated advocated a realistic detime in the past Blough rate at that any Oct. Uranium Shamrock whether present in- termination Corp. by he four years, reported. new to 1956 interests, 10, acquire As to profits from which cor- (Continued on Page 2) producing mines, and provide new fields end office management Until a regular stockholders election personnel of Mining-Assayin- g - Research Consultants re insu-ificie- nt e, non-partisa- n" 83-acr- e Shamrock Uranium Undergoing Changes will officer the Einar C. Erickwith corporation son geologist and consultant, acting as president.Transfer agent for Shamrock, an almost three year old company with Dudley M. Brady who will be headquartered at the office being prepared at 34 No. University Ave. Provo, Utah. The first property aquired was a producing tungsten mine at (MARC-INC- ) Gold Hill, Utah. Owned by Eugene Timm and T. Kearney, over $300,000.00 worth of 6re had been previsousiy shipped! Shamrock shipped 54 tons in November, shipped in December and 32 tons in the bin so far in January. These ores are being moved in up to .72 per cent or better on preparation for an open pit operradiomeiitric analysis. ation and to reopen a drift to exploit the 8,000 tons of blocked ore. The ore is being shipped 80 miles to the 20th Century Fuel mill at Cherry Creek, Nevada. Final payment on concentrates Gulf Spots Fourth San Jaun Well i will await additional government appropitatiozis for the tungsten program with in the next 60 days. A one year field program was outlihed by Einar C. ' Erickson and field man Harry RusselL At present negotiations are under way to acquire interest and paticipation in mining and milling of mercury-tungste- n and rare earths ores in four other states. Huge Drill Rig Adds Strange Sight To Idaho Skyline Reaching high on the horizon ering gas or oil or both in this one-hamile west of Weston, Ida., valley, explained Mr. Maberry, and looking something like the and if we find gas, I believe we could furnish natural gas to the superstructure of a land-locke- d g rig. entire Cache region. There are an battleship, is a It is undoubtedly the largest estimated 80,000 people in the and most pretentious drilling op- Utah-Idah- o vicinity which would eration in the history of Cache come under this service. Valley. "Our geologists report indicates The tower probes 110 feet into that we might expect three horithe air, jutting from an assembly zons here which produce oil and of diesel engins, casings, equip- gas in Western Wyoming and ment housing and other Southern Utah." of the oil- - drilling trade. Mr. Maberry claims that there On a slight wind-swehill, have been some encouraging they are drilling for oil and gas. shows" to date. For instance, at They believe their efforts will 1667 feet there was a blow of gas, bear fruit. Right now, drilling and another good indication of around the clock with the finest gas at 2100. We detected a good tools available, they have passed show of hydrogen gas af 2246 the half-wa- y feet, he continued. point in a hole. Mountain States Drilling Co., em- one of the foremost drilling conare the officers and They' ployes of Utah-Idah- o Exploration tractors in the west, is sinking ExCo., a Utah corporation headed the three wells for Utah-Idah- o ManE. owned O. J. John Co., by Maberry, president, ploration by with A. Fred Dipo, vice president, ning of Denver. and J. W. Morris, secretary-treasureMr. Maberry stated that the contract calls for drilling the Weston Last week the rig had ground well to a depth of 5000 feet, the its way 2564 feet into the earth, Cornish well 5100 feet, and the and the bit was making headway Amalga well 3000 feet. through a sandstone formation at Drilling at Weston began Dec. the rate of one foot every 20 minand upon completion of that 20, utes. well, the company will move its "We have high hopes of dlscov- - rig to Cornish. lf well-drillin- para-phenal- pt 5000-foot-de- ep r. ia |