U.S. Business: Personal File: Jun. 15, 1962

-Ten years ago, when he struck the MiVida uranium deposit on the Colorado Plateau, slim, haggard Geologist Charles A. Steen was so broke that he couldn't afford to buy milk for his children. Last week Steen agreed to sell MiVida and itc mill to New York's Atlas Corp. for $12.8 million. Steen sold for capital gains "because it was the only way I could keep anything." Steen now operates two big Nevada cattle ranches, has branched out into other kinds of mining (lead, zinc, silver, gold and mercury), recently bought a New Mexico marble quarry, and is erecting an office building...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!