OCR Text |
Show Basin Oilsonite Properties Sold To Eastern Firm Announcement was made about 1 0-day s ago that the G. S. Ziegler and Co., New York, had purchased the properties of the American Asphalt Assn. and the Castle Peak Gilsonite Co. in the Uintah Basin. The Ziegler firm has a chemical chem-ical compounding plant at New Market, N. J. American Asphalt Assn., St. Louis, has mines at Little Bonanza, Bon-anza, Uintah County, Utah. The Castle Peak Gilsonite Co.. Pro-vo, Pro-vo, has holding in the Bonanza area as well as a small pulverizing pulver-izing and packing plant at Provo. G. S. Ziegler and Co. last year purchased the mines of the Utah Gilsonite Co. in the Uintah Uin-tah Basin. With those properties and the acquisition announced Saturday, the New York firm claims to have reserves of more than two million tons of the "natural asphalt." "Certain improvements in mining, grading, handling and packaging of production will result in greater production than heretofore, from the mines it has bought," a statement said. The Castle Peak mine is 11 miles south of Myton and has been operated by Roy Davis for many years. Mr. Ziegler has been buying Uintah Basin gilsonite for several sev-eral years and the purchase of the mines may portend the construction con-struction of a plant in the Uintah Uin-tah Basin or at Craig for the processing of the material before be-fore shipping. |