On Wall Street last week, a new set of market leaders took over. They were the stocks of companies with big uranium holdings. In the rush, one of the fastest gainers was Climax Molybdenum Co., which has mines spread over three western states. Climax went up four points and finished out the week at a new high of 45½.

With a string of uranium mines and one mill already operating at capacity in Colorado's plateau country, Climax announced that it was moving its uranium subsidiary headquarters from New York to Grand Junction, Colo., to be closer to actual operations, making...

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