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Scrapbook of the 20th Century: Oct. 11, 1954: Charlie Steen and the uranium industry

DESERET NEWS: Main topic as far as business or industry discussions in Salt Lake City is uranium mining or what the penny stock market is going to do . . . But not too much attention is paid to the producing end by the majority of stock buyers. Whether or not there is production should be a prime condition in buying stock. To get an over-all picture of the uranium industry, the Deseret News . . . went to Charles A. Steen, whose discovery resulted in reams of publicity for this area and sent hundreds of prospectors into the barren wastes in search of uranium.

Steen said, "I think the prospects are very bright for the uranium industry and believe that the peacetime application of uranium for industrial power and marine use will come in the not-too-distant future . . .

When Charlie Steen found uranium deposits near Moab, Utah became an integral part of the growing atomic energy industry. When interviewed, he was president of Utex Exploration Co., but when he went in search of uranium, he was hard up and hoping to hit paydirt for the sake of the $10,000 offered by the Atomic Energy Commission. His find sent dozens of prospectors out with geiger counters such as the one above.