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Show ' r, ' r, "V W-- y 'WWW JMyw v SSiSI 5il'iraM&r if JM MSTO; w'v vuiumniw 0f JjffoJf Cl VV W-W- , - 8 In Grantsville Area Memories of the days when Mercur was in full operation as Tooele County seat are revived by the discovery of cinnebar, the ore of mercury, near the head of Timpie Canyon in the Stansbury Mountains by three Grantsville residents. The find was made on state school land by Sterling Halliday, Earl Flinders, and Eugene Anderson of Grantsville in the all but forgotten Free Coinage Mining Plans Laid for Salt Lake Mining Meet WASHINGTON, D. C. Over two thousand metal mining men and industrial mineral producers will meet in Salt Lake City Sept. 9 to 12 ,to outline their views on national mineral policies and discuss the latest advances in mine and mill operating practices. Throughout every mineral producing field in the United States, plans are being made by leading mining officials and key operating men to attend the 1957 Metal Mining and Industrial Minerals Convention of the American Mining Congress. State and district chairmen of the program committee have been named to serve with National Program Chairman A. H. Shoemaker, General Manager, Home-stak- e Mining Co., Lead, South Dakota in the drafting of a program for the meeting. The program is expected to include discussions of such important subjects" as labor relations, mine taxation, public lands policies, Government mineral and stockpiling programs, measures to maintain a mobilization base for domestic mineral industries, uranium mining, and other important matters of national policy which affect mining. District. A lease from the state was procured by the finders and surface prospecting has been carried on during the past winter when weather permitted. Two pods of ore have been exposed in a fissure in limestone, and a float found along the vein suggests a third pod may be found all within a distance of 1000 feet. Assays of surface samples have yeilded values of from .16 per cent to .72 per cent mercury after eliminating visible crystals of pure cinnabar, some of which are more than on inch in diameter. Specimens of crystalline. cinnabar have been submitted to the Utah Mineralogical Society for observation because this type of mineralization is considered rare. prospecting is being continued by the finders bn the original discovery and the district is being studied by Mineral Investigations Inc. of Tooele to determine if the mercury mineralization continues into other claims in the district. Mercury, or quicksilver, is currently selling at $3 per pound and its price is guaranteed by the government for some years to come. Its use is very important to the development of atomic power, television, radio, and electrical installations, and is also used in munitions. Shell Oil Co. this week announced a rapid development program would be pushed on a Utah state school section within the Aneth Pool in San Juan County. The oil firm said it would drill between 13 and 16 wells on the tract on the north flank of the pool. The tract has been 640-acr- e pretty well proved completely productive. Utahs 14-1- ignificaHce in The Oil Grant College Salt area A Lake City high school boy is among the 135 students qualifying for the final com petition for scholarships from the Educational Fund for children of Phillips Petroleum Company Employees. He . qualified for the Scholastic Aptitude ..Test, of . the College Entrance Examination Board to be given May 18, 1957, after which final selection of 50 winners will be made in June. , - t The local student who will take the aptitude test is Richarjd L. Parkin, son of Mr. and Mrs. Parkins, of Woods Cross. He is a member of the senior class at Bountiful high school. La-Gran- de ,. ,,. v .. f'W&r . - r .. m Jtut...;v.J.llftj..; - V"V-- ' Or. ?? rY,4 p:' Jag ..? '( Wetldiz i . ff I?'-- ; 10 r Considered for Cents Old Mining and United Park i the old Daly Mining nd with United Park ig Co. is proposed for Lnj special stockholders meetings of the two firms to be held in May, attpounced. Tuesday. . .United - Parktif5rebeeeeseifSf Park Utah Consolidated Mines Co. and Silver King Coalition it-w- ag . - Mines Co., has antecedents among the historic producers in the Park City district. lead-silver-zi- agreements. This would operations and lead to exploration on the major ized area of the UPC which entirely . simplify resolute mineralground, surrounds the Dajy problems facing J. William Stoner, secretary of Daly Mining and United Park City, is location of individuals holding Daly stock. The records go back past 1900. One share of Daly would be traded for one share of UPC. Daly Mining Co. was organized in the Territory of Utah on Nov. 21, 1884, and, with the old OnLast known transactons placed tario Mining Co., pioneered in the price of Daly shares at about 25 cents each. development of the district. UPC trades on New York Stock and Salt Lake Stock Exchange between $1.35 and $1.75 a share. Daly Mining Co.-- s meeting will be held in UPC offices in Kearns Building on May 21, at 2 p.m. while the UPC session is scheduled for May 28 at the same office at 2 p.m. Firm Has 41 Years Reserved Potash for Fertilizer Ingredient or 34-1- preliminary shaft pilot hole to a depth of 611 feet and a second hole will be sunk in studies preparatory to shaft sinking at the proper time. Texota Oil Co. To Drill Wells At Paradox 6, Market Leads Stock News i NEW YORK Corporate news, actual and prospective, ruled the New York Stock Exchange Wednesday. Except for steels, mostly strong, the major groups did little. Interest was confined to scattered individual issues. Of the 1,151 issues traded, 448 rose, 427 fell, and 276 closed unchanged. Sales were 2,290,000 shares, against 1,890,000 Tuesday. There were 85 new highs and 24 new lows. 1-- c . At present, more than 91 per Each of the 50 scholarship cent of the stock of the Daly awards provides $500 annually during the four years of college Mining Co.' is controlled by attendance, subject to the main- United Park City. tenance of a satisfactory record Principal point of the merger by the awardee. is to unify ownership of the OnThe scholarship fund was est- tario Drain Tunnel No. 2 by ablished in 1939 for the purpose eliminating a voluminous number of aiding children of employees of contracts, leases and operating of Phillips Petroleum Company and its subsidiaries in obtaining a college or university education. High school students from 68 towns in 17 states will take the test. Qualifying 1957 aptitude Delhi-Taylstudents who do not receive Oil Corp. has scholarships may apply for loans established reserves of some 10 for higher education from a sepa- million proven m?.d probable' rate educational loan fund. tons of potash in the Seven Mile Anticline area immediately north of Moab, Grand County, it was announced Tuesday. The company said there was a minimum of a 41 year reserve of the material essential for plant the state lease also would bring growth based upon plant output additional revenues to the school in the area equal to 1,000 tons a day production. fund.) The firms fourth well, State Dr. Elton D. Soltes, who restarted drilling April ported on the potash project at Three, 15 on a location 660 feet from the an annual stockholders meeting North line and 1,980 feet from of Delhi-Taylo- r at Dallas, Tex., the West line of the Southeast said an outstanding transportation comer of Section 16, Township consultant had been engaged in 40 South and Range 24 East. working out proposed potash tariffs for railroads. Proper rail rates are essential to success of a proposed 20 million dollar investment in mine and beneficiat-io- n 10-ye- ar 1,000-foo- w, ' Boy Vies for Raytheon was the most active isSome 310,000 cubic feet of nawas recovered with the sue, trading 54,000 shares and tural New Park Mining Co. has con- oil. gas points. rising cluded a agreement with from natural sale of gas (Any Several brokerage houses have Silver Standard Mining Co. covbeen giving customers forecasts of ering exploration on 50 claims the trict, Tooele County. Clark L. Wilson, New Park vice president, said the agreement calls for diamond drilling and drifting ores off in exploration of lead-zint tunnel in the historic a property. Preliminary work will start in 30 days. vr. 19, If Drilling Pact Dis- A.. Shell Boosts Drilling Activity On Aneth Pool Project general - school fund receive the 12 per cent Active in arranging plans for would from any oil produced. this national meeting of the in- royalties 200 barrels for each rate of At the dustry is L. F. Pett, General well, net the school would this Manager, Utah Copper Division, fund roughly between $300,000 Kennecott Copper Corp., Salt and $500,000 annually. Lake City, who is chairman of the Western Division of the American Production rate would be govMining Congress. erned by good conservation pracdemand. HowThe State and district chairman tices and market is a major participant of the program committee are ex- ever, Shell construction of a huge pipein the pected to meet .in Salt Lake City line from Los Angeles to the Four early in June to consider suggestions submitted by the industry Comers area, including the Aneth as to speakers and subjects to be pool. included in the Convention proShell also announced on Wedgram in September. nesday the completion of its State 6 well which made 480 Three, barrels daily of high gravity oil New Park Makes choke. through a 3646th-inc- h latter firm has in the Ophir wjj .yRJiW V Salt Lake City, Utah, Friday, April Quicksilver Uncovered v.s t1 'JteMgM !. Vol. 28; No. ' ofvjpMW''" Raytheons earnings, with those for fiscal 1958 considerably above those for fiscal 1957, which ends Output of crude oil in Utah on May 31. declined 1,450 barrels daily for Lukens Steel was the second the week ended April 12 for an barof most active stock and ranged all 13,150 average production with rels a day compared leyels over the tape. At one time it but it of previous week, according to showed a gain of the American Petroleum Institute. closed with a loss of 18, Crude Output 2-5- 5, plant near Moab. Texota Oil Co., Denver independent, Wednesday announced a seven-wel- l program would be drilled during this year on properties in which the firm has interests in the San Juan County segment of the Paradox Basin. The information was contained in a call to stockholders for a special meeting April 24 in Denver for approving sale of $300,000 in 6per cent, 10 year convertible debentures and to approve an executive stock option plan covering 100,000 shares for key employes. The plan would end a present Results of the domestic market survey for potash indicates a favorable situation and that with a vigorous marketing program we can expect to obtain our share of the domestic market, Dr. Solstock option plan. tes said. Earl M. Henderson, former Salt Delhi-Taylo- r has completed a Laker who heads the firm, said a deal had been comleted with Sinclar Oil & Gas Co. covering drilling by that firm of three tests Oil to the Mississippian formation in northone year on the 30, e west Elk Ridge block. Sinclair would earn a half interest in the block. Joseph A. Minton, president of Gulf Oil Corp. has indicated it English Oil Co., Wednesday informed Utah Oil and Gas Con- would exercise options to drill servation Commission, the firms the 33,000 acre Lone Cedar block Ferron Structure flank test in in a 9,000-foMississippian test. Emery County would be drilled Drilling would start by May 15. in the southwest quarter of the previously announced, Texnortheast quarter of Section 22, otaAs will share in the Township 20 South and Range 7 Pan American Petroleumpending Corp. East. test of the Elk Ridge sector and American Petrofina shares in- Texota with Ambassador Oil Co. terests in the test. The drilling will drill tests in the Hatch area will penetrate the Entrada and seven miles northeast of the AnDakota formations. eth Pool. Reveals English Test Well Location 000-acr- ot |