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Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, November 21, 1936, Image 8

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn86075103/1936-11-21/ed-1/seq-8/

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Natural History Society To
Meet at Butte Next Thurs.
CL
Dr. Ralph W. Chaney, head of
the department of paleontology at
the University of California, will
be the principal speaker on the pro
gram lor the first annual meeting
of the Montana Society of Natural
History to be held at Montana School
of Mines at Butte on November 27;
and 28.
Dr. Chaney, who has done field
work in Central and South America,
Mongolia and China, the Philippine
Islands, Manchukuo. Chosen, Japan
and the western part of the United
Stakes, Is the author of several
scientific papers on fossil plants,
Other speakers on the two-day
program include Professor Mel
ville Sayre of Montana School of
Mines; R. H. Fletcher of the State
Highway Commission; Dr. E. S.
Perry of Montana School of Mines;
Darwin Harblcht of Fort Peck; Dr.
Harry Turney-High of the State
University; L. H. Hart of the Geolo
gy Department of the Anaconda
Copper joining Company; and Presi
dent Francis A. Thomson of Mon
tana School of Mines. Charles M.
Kesler of Helena will deliver a
special address on "A Pioneer Miner
of the West.''
According to I rofessor H. M.
Sayre, who has been In charge of
arrangements for this meeting, re
presentatives from the Montana So
city of Engineers, the A. I. M. B.
the American Chemical Society, the
Northwest Scientific Association, the
U. S. Forest Service, and the State
Higbway Commission will attend
the meetings which have been
scheduled.
M ,, rl
es flOFR GRAVEL
■ fanwkii win«»
G0LDSBURY TO
TEST ELK GREEK
J. W. Goldsbury & Co. of
Minneapolis has started oper
ations to test the Elk Creek
Placers near G reenough, Mis
soula county. Chas. J. Stone,
promnent Montana mining en
gineer and geologist is In
charge of the work. The Golds
bury Interests sponsored suc
cessful gold operations in Al
aska and Colorado.
DIE IN DRIFT MINE
A fatal accident occured this
week in a drift placer mine
near Superior, on
creek, in the Bear Tooth moun
tains. Two miners, Antone
Gustafson, 40. and Oscar T.
Gevart, 45, were trapped alive
and it required three days for
rescuers' to dig out the tunnel
to reach them. Both were dead
from suffocation and exposure.
Windfall
DINOSAUR EGG NEST
A rock slide along the Chief
Mountain highway, Walerton Na
tional park, recently revealed a
nest of fossilized dinosaur eggs. The
eggs, each as large as a football
were clearly outlined in the rock.
The find is Just north of the Mon
tana line but the nest will not be
»een by tourists as the prehistoric
eggs are to be sent to the national
museum at Ottawa,
EAST TEXAS RECORD
The East Texas oil field has set
a new record by producing more
than a billion barrels of oil within
the past five years, according to
figures recently made public.
There are about 22,000 wells in
the field, which are now producing
about 435,000 barrels dally under
state proratlon. So-called "hot oil"
is estimated at 15,0C0 barrels daily.
TEXAS OIL TAXES
AUSTIN. TEXAS—Texas legisla
ture has increased oil production tax
from 2 cents a barrel to 2% cents
as well as adding % of 1% of sel
ling price above $1 per barrel.
ISSUE MINING DAILY
A Daily Mining Bulletin, Is now
being published in Washington, D.
C., a copy of which was received
this week by the Journal. It prints
news regarding SEC filings and
glvevs market quotations
leading mining exchanges.
on all
DIVIDEND PAYING GOLD SF0CK
Conservatively managed gold joining company with five year
dividend record. Long and profitable operation indicated by
large ore reserves.
WRITE FOR FULL DETAILS
J. >V. GOLDSBURY & COMPANY
STOCKS AND BONDS
MINNEAPOLIS, MINN.
«07 MARQUETTE AVENUE
OIL WELL & MINE SUPPLIES
New and Reconditioned
We pay cash for any new or used material and can
fill your requirements at a big saving on steel rigs,
tanks, pipe, wire and manilla rope, belting, boilers,
engines, pumps and all kinds of tools.
AMERICAN PIPE AND SUPPLY CO.
Box 2420
OUT BANK. MONTANA
Phone 78
CASPER.,
WYOMING,
DINVKK,
OOLOKADO
STABILITY IN
COPPER MART
WELL FOUNDED
j
there has been too much emphasis
on foreign armaments buying as an
influence on the copper price struc
ture. Demands for national de
fense purposes, rather brisk early
in the year, were credited by some
interests with having lifted the ex
port price from around 8 cents a
pound to a level close to 11 cents,
This in turn was supposed to have
brought a coreapondlng rise in the
domestic market,
jj„t ^ i 8 contended In quarters
'where buying activities are closely
studied that world Industrial regen
€ratlon ha8 made a blg coat ribu
<ion to tbe recovery enjoyed by the
copper industry here and abroad,
\z . . , _ . . ,
t T ^ e K eX ^ Dt rJk li^nd
«"ed *>X the fact the red meUH and
current level of 10% cents, do
me8tl , c * more than doubîe lts de *
pression low.
More important, as an evidence
of sound and economic expansion,
NEW YORK—Because its
well being Is mainly supported
by broad forward movements in
in Industry, copper remains at
the forefront of basic metals
by reason of recent advances
and improved statistics.
Some In the trade have asserted
trade authorities assert, Is the Indi
cated favorable balance of produc
tion and consumption. They add
this stability has been maintained
in the face of substantially Increas
ed outputs both by domestic and
foreign producers.
For confirmation of this claim
they cite October statistics showing
world stocks of copper down 23,180
tons during that month to the low
est in two years or more. Inven
tories were placed at 356,780 tons
as Oct. 31, compared with 379,960
at the close of September and 496,
500 at the end of October, 1935.
LIBERTY MONTANA
FILES 13 CLAIMS
Further emphasizing the revival
of large-scale operations In Mon
tana's mining districts was an ap
plication filed Thursday at the
Great Falls land office by the Lib
erty Montana Mines Co., accompan
ied by a remittance of $1,025 cov
ering the patenting of 13 claims
covering 205 âcres.
The mining claims upon which
government patents are sought are
situated in sections 16, 17 and 18.
township 2 south, range 3 west, in
Madison county, approximately 25
miles north of Vlrgfinia City, scene
of some of the earliest mining ac
tivity in the state.
which has its headquarters at Jef
ferson Island.
Edwawrd Deschange is president
of the Liberty Montana Mines Co.,
COPPER FIRMS TO MERGE
YORK—Stockholders
Utah Copper Co. approved the first
step in unification of Utah with
Kennecott Copper Corp, which owns
approximately 99 percent of the
former. The unification plan, which
has been approved, calls first for
the merger of Utah Copper Co.,
into the Copper Corp., of Utah.
Stockholders of the old Utah com
pany will receive three shares of
the new company's stock for each
share held.
of
NEW
HECLA PAYS DIVIDEND
SPOKANE—Stockholders of the
Hecla Mining Co., operating In the
Coeur d'Alene district of Idaho, were
advised today a 20-cent, fourth
quarter, dividend will be paid Dec.
18. The last two quarterly divi
dends were for 15 cents This dis
bursement, $200,ft00, brings Hecla's
payments for the year to $600,000,
and for all time, $21,505,000.
Thin people live longer, says a
doctor. It seems the fat ones have
a thin chance.

mal
HEo|wgEK'LV* I
à
pui
GEOPHYSICAL CREWS
PASS THROUGH STATE
Two geophysical crews were seen
in Montana during the pest week,
one outfit going north and the
other going south. Both were seen
In Great Falls but none ascertained
their destination. So far as is
known, there is no geophysical work
being done in this state at the pre
sent time but there is considerable
work going on in Alberta.
Imperial Oil and Nordon are Just
completing a big geophysical survey
between Lethbridge and Twin River,
where Imperial has taken over the
extensive Nordon leases,
area surveyed Is aproxlmately 260,
000 acres including 170.00(0 acres
of Nordon and 60,000 acres of Im
perial and other holdings.
The survey crew seen going
northward was completely new, with
tine trucks and new equipment
throughout. The southbound truck
bore Colorado licenses and is be
lieved to have been employed on
the Imperial work west of Leth
bridge.
In the
GOLD STOCKS HIGHEST
Here Is the stock market record
of several leading mining stocks,
comparibg present quotations with
1929 quotations:
Dome mines, now 564% of 1923
peak.
Homestake Mining, now 473% of
1929 peak.
McIntyre Porcupine, now 177%
of 1329 peak.
Alaska-Junean, now 163% of
1929 peak.
U. S. Smelting & Refining, now
106% of 1929 peak.
International Nickel, now 73%
of 1929 peak.
American Smelting & Refining,
now 63% of 1929 peak.
Kennicot Copper, now 46% of
1929 peak.
Anaconda Copper, now 23% of
1929 peak.
National Lead, now 13% of 1923
peak. v
WASHINGTON—The tax appeal
board announced settlement of an in
come tax levy against the Fulton
Oll Co. of Ollmont, Montana, for
SETTLE INCOME TAX
$24,451.
The concern appealed an assess
ment of $41,000 against Its 1927
income and the board agreed to
payment of $38,849.
Settlement was made to avoid
further board hearings. It was said.
_ T .
. Wage Increases ;
of 50 cents a day for nearly 2,800 :
miners in the Coeur dAlene districts j
around this city were announced
by major producing companies!™
today.
Better prices for lead, silver and
zinc, the principal metals produced,
are responsible, mine official said.
Under the increase, common labor
will be paid $5 a day. muckers $5.25,
miners $5.75, and timber men $6.25.
The increase first will show on
pay checks distributed about Dec.
WAGES INCREASED
WALLACE. Ida.
18.
SUNSHINE PAYS AGAIN
Sunshine Mining Oo. announces a
dividend of $1,116,615, the largest
paid by current earning» of Coeur
d'Alene mines. Regular quarterly
dividend of 75 cents has been de
clared.
ANACONDA
Copper Mining Company
Purchasers of Gold,
Silver and Copper
Ores and Concen
♦rates.
Address
WASHOE SAMPLER
A. C. M. Company
Butte, Montana
JUMBO BOOM FLOPS
The much publicized Jumbo gold
mine boom in Nevada has appar
ently blown up, as options held by
R. W. Hanna, San Francisco capi
talist, are reported to have been
allowed to expire. Hanna drove a
400-foot tunnel and fouq4 no ore.
A clever publicity artist had con
nected the same of Herbert Hoover
with the district and had otherwise
led the world to believe that the
Jumbo mine was one of the world's
richest discoveries. The publicity
attracted a lot of big people, but
the Jumbo has fan led to show any
thing of consequence.
MINE FINANCING
HAS SMALL PART IN
SECURITIES REPORT
Mine financing continues to con
stitute less than one per cent of the
financing through the SBC In the
United States.
In the period from July to Sep
tember gold and silver mine financ
ing amounted to nine tenths of one
per cent of the total financing, out
of a total of $909,026,0(27 of financ
ing. Oil and gas wells represented
only two tenths of one per cent,
with but two issues during that
Even so, that la a gain over the
same period In 1935 when mining
issues covered only four tenths of
1%. In the 1936 quarter there
were 10 mining issues and but two
oil issues, the former authorising
sale of $7,676,■999 worth of stock
and the latter $2,194,861 worth of
stock.
Industries
25.6, financial and investment com
panies, 30.5 and utilities, 31.7 per
cent of the total laues in the quarter.
took
Manufacturing
FORSEES $41 GOLD
According to reports reaching
here from Basle, Skitzenland, the
opinion of the central bank govern
ors of the Bank for International j
Settlement Is that they forsee, with 1
regret, little serious extension or
developmnt of the trl-power mone- 1
tary accord now In operation be
tween England, France and this
Nation.

!
. They explain that If the monetary'
ball is not kept rolling the recent
international gold agreement will
lose its dramatic and psychological
value for France and she may be
forced to devalue again. |
Officials here, commenting upon
these reports, see further exten
„i on 0 j the President's powers to
devalue th dollar and a few flrml
predlct a future gold prlce of $41
—Daily Mining Bulletin,
i.
FIREPROOF
Leggat Hotel
BUTTE. MONTANA
Alex Leggat, Prop.
Rates. $1JM up
.MINING ENGINEERS
GEOLOGISTS
MINING MEN WELCOME
GOLD GREEK BATTLE
GOES MERRILY OH
The battle among promoters of
the gold dredging on Gold Creek,
near Deer Lodge, still rages on, as
W. F. Breede of Chicago filed suit
In Milwaukee against William H.
Schmidt of Saukvllle, Wls., to re
cover royalties paid to Schmidt.
Schmidt negotiated the lease of pro
perties of Gold Creek Mining Co., of
Deer Lodge to Tuba Associated
Engineers, Ltd., which In turn as
signed the lease in 1934 to Pioneer
Placer Dredging company of Mon
tana which is now In successful op
eration. Schmidt held out royalties
for negotiating the deal,
now charges that Schmdt was hired
by. the company In 1934 to negotiate
the lease and that the $30,000 In
royalties paid to him should have
gone to the company else be should
not have received 10,000 shares of
Gold Creek stock In payment for his
services.
Breede
SECRETARY OF THE INTERIOR
WASHINGTON
October SO, IMS.
ADVERTISEMENT
CAU FOR BIDS
TO PIBCHASB ROYALTY OIL AC
CRUING TO THE UNITED STATES
FROM THE SALT CREEK, WYOMING,
Oil. FIELD.
■Scaled proposals. In duplicate, will be
received In the office of the Secretary of
the Interior, Washington, D. C., on -or
lK>fore noon. December 1, 1936, from res
ponsible bidders for the purchase, be
ginning January L 1987. of royalty oil
accruing to the United States from Gov
ernment lands in the Salt Creek, Wyom
ing, oil field.
Detailed specification* on quantities
offered for sale, required form of bids,
deliveries, volume measurements, gravity
determinations, bond requirements, and
action on bid«, should be obtained by
e roHjH-ctive bidders from the Director,
t. ». Geological Survey. Department of
the Interior, Washington, D. C., the
pervtsor, Ü. S. Geological Survey,
K r, Wyoming, or the Register, ü. S.
Bind Office, Cheyenne, Wyoming.
Sealed bide are to be submitted to
the Secretary, Department of the Inter
ior, Washlngon, D. C-, pursuant to the
«iK-cIflcatlons. the envelope to be mark
ed plainly "Bid on Salt Creek Royalty
OH. No bid received after the time fixed
herein for submitting bids will be con
sidered.
C«B
°<' t() her so, 1936.
1>ate flr8t publlcat,on ' Nov - 7 - 1936 -
Secretary of the Interior.
lx
GOLD MINING PROPERTIES
MINES BROKERAGE
COMPANY
HELENA,
.. . .
LaLonde Building
MONTANA
.-.
Mining and Milling Machinery
And Supplies
CHICAGO PNEUMATIC TOOL COMPANY
COMPRESSORS. ROCK DRILLS, AIR AND '
ELECTRIC TOOL«
PUMpS—CRUSHERS—SCREENS—TIMKEN ROCK BITS
DRILL STEEL—BELTING—CABLE HOISTS—PULLEYS
Hall-Perry Machinery Company
Sia East Iron Street
BUTTE,
MONTANA
OPPORTUNITIES
Herein are listed some of the best bargains to be found
today in Montana's Oil Fields and Mining Districts. In ttk
column are found the items that escape the casual reader_
OIL
QUICK GAMBLE—10 acre oil lease on
big structure—X-2 miles from Mulroy
Curtln well now being drilled to 5000
feet—$10.00 per acre. Box 451 Center.
Texas.
NEED MONET—Will sell my royalty In
argaln price.
6Î2 E. St
11-7-cl
3
tercets In Montana at b
Write Benj. F. Conger,
Lawton, Okla
KEVIN SUNBURST MAP
Platt's map of Kevin .Sunburst field,'
corrected up to August 31st, 198«. Paper
Supply Department, Montana Oil
Î 5.00.
ournal.
$ M
Showing landownersblp and all wells
drilled to date. Also Hat of wells drilled
with dates of completion and Initial
production »2.00. Supply Department
Montana Oil Journal. 9-26
Mimeographed copy showing U. 8. Q.
S. contours. Townships 16 to 37N,
Ranges 7W to 9E 50c. Supply Depart
ment, Montana Oil Journal, «
CUT BANK MAP
8WEETOBA88 ARCH MAP
Geological reports copied or mim
eographed—maps reproduced Box 500.
Montana Oil * Mining Journal, Great
Falls. Montana
tion extant of U. 8. O. 8.. State and
private reports on Montana oil and
mining geology 8tnee aanny of thane
reporta are out of print, copies will
be furnished of reports, tojjÂher^ with
on
through the Supply D
un* OU and Mining
National Bank Bldg.,

Jeam alL FUat
Oreal
Cloning QuuUom
on ri»
STANDARD STOCK EXCHANOB
SPOKANE
m
K. J. GIBSON, DIO,
Grant FWta, Montau
Closing November 30, I960
Bid Asked
...64% 65
Clayton Silver
Dayrock -
Galconda .
Hecla Mining.
Independent Dead
Jack Waite.
Metaline M ft L.
Montana Consolidated
Sherman Lead.
1.00
1.07
.13% 14%
_17,00 17.60
-3% 4%
.67% 75
.46% 47
13% 16
....45 50
Sunshine Mining..22.65 23.26
Standard Silver-Lead
Tamarack ____
Bunker Hill.
Virginia City Gold....
„...39 41
.19 20
.91 94
3% *%
„CURBS
Callahan .
Pend Oriole...
Premier Gold.
Sidney .
.1.75 1.86
.1.88 1.90
.3.20 3.30
.11% 16
OVER THE COUNTER
Wash Water Pwr
Montana Pwr. Pfd. $102.50) $103.50
$103.50 $106.00
EXAMINE TROY MINE
TROY—J. F. Featheratone, min
ing engineer from New York, and
an associate, were in Troy for sev
eral days examining the Liberty
Metals mine for eastern Interests.
There Are
Hundreds of Suits to
select from at
Kaufmans
$25
and op to
$50
Dming all these Forty
Tears, thousands of men
have come to KAUFMAN'S
as their safest place to buy.
We STRIVE to maintain
a record of
Quality Service and
Value
Kaufman's
WILL, BUY Landowners oil royalty for
£?*'?■ ™, ve ,e *; al description and price
firmin letter ' rolary "nd standard
£ « ont £L wanted - Priced right.
Pr O. Box 1002, Great Falla, Montana
_ - 11-21 a
£r »«le In Kevin «eld with
100% 011 Gas right. Clear title
per acre. Guder Berg, Strum,
*10.00
Wise.
U-*l-b
8WBETOBAS8 ARCH
!
MAP—Oontoort
topography aU well toealteaa. Flneat
k P r f »^red. By
Monte** oTSd jÄT""*
j
MINING
„ FOB UEASE OB SALK
Excellent goW-silver-leed property
Rawhide. Nev. For particular«,
munloate with M. K. Lambert, 961
L öre8t ,jl': e -> p «k> Alto. Calif, Telephone
P __A- 7352.
WANTED— Reliable brokwTo ieU~«BÖÖÖÖ
lead and silver company Issue of higher
. MeX, S° P r <>P« p ' y - P. O.
_ B ox st o, Alpine,_Texas.
cost^m'ir^xi^m tm Ch ..wi 1 rE 1 *w™î2* ce î._ I>rUI
f? Bt x 20
Jl — LjL T '7P lm ^ n ^T ee ' n 1 * * hafta - «°
» aS
Ovaodo, Montana. lO- 81 -d
near
10Sl-d
SMALL SCALE Placer Mining Math
Kn.ehîi Î Ja «haon Md John B
Knaebel, a booklet giving pracet
mining districts in Montana and Ida
^Jsâsrwass*- Z.&
^_
for SALE—Rich nlaoer
famous Atlln B. C
particulars write
Juneau. Alaska
Coantnr.
to B. IL
For full
COLORADO SILVER shares lie uric«
advances very soon; Karnes'8heihv

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