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Show Pare Lead Price Gut Again To 14 Gents a Pound Price of lead cut one cent a pound to 14 cents by leading custom smetlers in New York Tuesday. Another one cent a pound decrease is indicated. This latest reduction brings to 4 cents a pound the full scale and Smelting Co., St. Louis; John Bradley, head of Bunker Hill Co., San Francisco; F.S. Mulock, Boston, president of United States Smelting Refining & Minng Co., C. Jay Parknson, general counsel at New York for Anacoda Co., of the slices in both lead and ad R.L. McCann, Franklin, N. J., zinc in the last 30 days. and executive of New Jersey Zinc The issue for Utah operators Co. i3 how many weeks they can stoy O.A. Rockwell, Miami, Okla., vice open. president of Eagle-Pich- er There an estimated 3,000 per- Co., also has been invited to join sons directly employed in the the steering commttee. milling, Clark L. Wlson, president, Utah transporting, mining, smelting ad refining of these two Mining Assn., Salt Lake City, and metals in the state. Twelve E.H. Snyder, president, Combined thousand other Utahns are at Metal Reduction Co., represents work because these miners work. Utah and Nevada on membership But some operators express of this group. Robert ' Palmer, doubt Tuesday they could last manager, Colorado Mining Assn., out the present session of con- represents Colorado. This steering group will take gress which is supposed to afford relief through passage of an over a portion of the pioneeramended long range minerals ing work of Otto Herres, Salt program of the Eisenhower ad- Lake, chairman of the National Lead and Zinc Committee. Mr. ministration. . (MEANWHILE, creation of a Herres, who stands without peer new National Lead and Zinc as an economist of the minerals Emergency Committee, with an industry of the United States, executive group of major east- was fighting for tariffs and excise ern and mid western operators taxes on low wage imports of and a sprinkling of representation lead and znc when one or two from native western enterprise, western members of the new was announced, in the industry. sterring committee were swalThis steering committee is lowing barter of foreign mine made up of Howard I. Young, products for American agriculpresident of American Zinc, Lead ture surpluses. Bureau Tells Method Of Restored Mine Mining methods employed Friday, June THE WESTERN MINERAL SURVEY 4 at the mine was reopened by the Banner Mining Co., in 1951 and, an Arizona copper mine that resumed production in 1953 after being shut down 30 years are described in a Bureau of Mines technical report released today by the Department of the Interior. The Banner Mining Companys Mineral Hill mine in Pima County Ariz., is the subject of the report, one of a series the Bureau is issuing on methods and practices in various mining districts of the United States. First , located about 1882, the Minerial Hill mine was operated by several different companies and was shut down and reopened at least four times between then and 1921. During this time it reportedly produced over 71,000 tons of copper ore. Following 30 years of idleness, Tar Baby Shows Dividend Date Tar Baby Minng Company last week announced plans wth Continental Oil Co., Denver, to have that company pay for the blocked out ore on the Blue Goose and Lady Luck Claims in the Circle Cliff area. Engineers report there is almost a total of $400,000 of positive blocked ore in the area. Also in the option stage is a pending deal for an oil field n the Santa Mara oil field n Calif-orwith four producing wells, each producing more than 500 barrels of oil per day. The oil has a gravity of 16, with this in bringing $2.56 per barrel at the well. The wells are in a proven field with 28 more locations to be drilled. Negotiations also were announced for the mining of Spring Water claims which have indicated uranium ore in excess of na 14, 1957 Indian Creek Co. Salt Lake Stock Exchange Slates Venture Indian Creek Uranium & Oil Ihviiir, June Co., 2320 South Main St, Salt Listed Stocks Lake City, is presently negotiating with Gerald fSilvius, Denver bis nm Colorado, industrialist for a joint Bonanza Oil St Mng. venture involving oil properties n Wyoming. According to O. C. Larson, pres- Cardiff ident of Indian Creek Uranium, Chief Cons. Cons. Pfd. the joint venture involves the Chief Chief Cons. Warrants Mahoney Dome area, in Township 22 North, Range 88 West, in Wyoming. It is contemplated that tests will be made in the Frontier, Sundance and Tensleep sands. The Mohoney Dome properties are located north of Rawlins and approximately 35 miles northwest of the Sinclair Oil Refinery. Mr. Larson stated that if negotiations are accomplished satisfactorily with the Denver industrialist for the Mahoney Dome oil claims, drilling will be done by the Erickson Drilling Co., of Soandia, Kansas. Indian Creek Uranium also has a 10 interest in high grade lead and zinc properties located near Clayton, Idaho, in addition to mining properties in the San Juan Basin. Present price of Indian Creek Uranium on the market is five cents bid. seven cents asked. over-the-coun- at 5850 .49; 2000 at .49; 7500 at .49; at .49; 600 at .50 1500 at .04 1000 at .08 Clayton 1000 at .25 Dragon 200 at 1.00 E. Std. 1500 at .11; 500 at .10 E. Utah 2000 at .14 Or. Deposit 10,000 at .01 Qt. Western 1000 at .09 Nev-T1000 at .12; 1500 at at .11 Mtn. View 4000 at .02 No. Std. 2000 at .01 Royston 1000 at .04 Sundance 600 at .13 Bllv. Std. 3000 at .03 Silver Shield 7000 at .02 Tlntle Std. 100 at .83 Tr. Union 1000 at .04 Utah-Wy- o. 1000 at .65 Zuma 1000 at .05 Central Std Croff south-centr- al . at .49; 9800 2300 IS, 1957 ah . Colb. Rexall Comet Coaln Commonwealth Lead Comstock Uran. St Oil Cons. Eureka Br. Silver 500 Croff Oil Crown Pol Dragon Rexall CoL 1000 .20 at at 1500 at .10 2000 at Park City Con. 1000 8a Std. 2000 at .20 Sundance 500 at .19 E. Std. Nev.-T- ah East Standard Corp. East Utah 3000 Carb Sales at 1000 Comb. Mtls. .10; .49;2300 .07 4000 .10; at .10 at .50 at .11 Eureka Bullion DENVER Gold Chain Uranium Stocks Bllver Intermtn. Pete. Kennebec Horn The following list of uranium stocks are 'uose of companies currently producin' Znc. Leonora Little May Majestic Oil uranium and listed as shippers to the Atomic Energy Commission and companies which, while not listed as shippers by AEC, have an Income In other mineral fields Mng. Mono Kearsarge Wednesday, Moscow Mt. States Nalldrlver Nev.-Ta- li June 12 Dev. OH St Mng. ter Radorock Reports Cash Dividend New Plutue Prince Cons Prosper Oil & Mng. Radorock Resources, Inc., today declared a cash dividend of five cents a share, payable on South August 5 to shareholders of record July 5. Tar Baby Tlntlc Centra Radfor the first The Tlntlc Lead dividend, The Bureaus report was preBoard the declared was orock by pared by Walter R. Storms, of Directors meeting in Salt supervising mining engineer of Lake to R. W. Utah Cons. according City, the Southwest Experiment Stao Bug. Pfd. . presodent. Cons. Oil . Utah tion, Tucson, Ariz., and Allen B. Neyman, Wyo. and general Radorock was formed March Western Alloys Bowman, vice-pre- s. Federal Uranium manager of the Banner Mining 31, 1956, by which presently Wilbert Corporation, Co., Tucson. It gives the history holds Basil 52 of Willis ton Cons. than more slightly Yankee and geology of the Mineral Hill the Radostock in Sales mine, discussing methods used in rock.outstanding ore and. prospecting, exploration The dividend represents ap- BulL Mng. 3000 at .04 sampling, and describes in detail one-ha- lf of the net development, mining, transporta- proximately after taxes, from Rad-oroc- ks tion ventilation, and other oper- earnings, Radon uranium mine for ations. A brief description of a 400-to- n flotation built by the the past six months. This mine, in Utahs Big Indian District company in included. southeast of Moab, Utah, curA copy of Information Circular rently is producing more than 7786, Mining Methods and Prac- 4,000 tons of high grade ore a tices at the Mineral Hill Copper month. The dividend will be paid on Mine, Banner Mining Co., Pima County, Ariz., can be obtained 5,637,493 shares outstanding. from the Bureau of Mines, Pub- The total payment will be lication Distribution Section, 4800 $281, 876k Federal Uranium CorpForbes Street, Pittsburg 13 Pa. oration, Radorocks parent com- URANIUM QUOTES It should be indentified by num- pany, will recieve $148,209 from this dividend. ber and title. after rehabilitation, began producing again in 1953. The company also located a new ore body near the old mine and sunk an additional shaft. Utah-Idah- Americas Best Buy . . . U. S. Saving Bonds! Report en Lisbon and Ran Rex Upon Request AEC to Suspend Arizona Station The U.S. Atomic Energy Com- submitted a proposal mission today announced that construction of a mill. there would be no changes in previously announced plans to discontinue operations of the Commissions ore buying station near Globe, Arizona, at the close of business on June 30, 1957. Announcement of the closing of the Globe buying station was made on January 15, 1957, because the ore production and the ore reserves in the district did $500,000.. not indicate any reasonable prosNew officers were elected an economic milling are Clifford Enged, Ralph Shef- pect for field, Dave H. Bullogh, William operation. No private company has shown an interest in, or has R. Glore and Henry Hefter. for the Recently another field survey was undertaken by the Commissions Grand Junction Operto determine Office ations whether new developments or new information might j have improved the outlook for an ore supply. During the course of this investigation all operating properties were examined as well as a member which was idle. Past and current production data together with presently known reserves were carefully reviewed and studies were made of the economics of mining and milling the avialable and indicated ore. Orest Yelst. .14 .18 CROMER BROKERAGE CO. Suite TWX SU-1- 80 3-- 4 Salt Lake Stock Exchange Building. 39 Exchange Place Salt Lake City, Utah Telephone EL 14 |
