Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1884-02-13
PHILADELPHIA COMPANY,
AN INTERESTING INTERVIEW WITH
ITS SUPERINTENDENT.

The Company Has Declared No Dividend,
but Does Not Owe One Dollar to Out.
siders--lts Policy for the Current Year
Outlined The Furnaces Will be Kept
Going, but the Prices Paid for, aud
Kinds Of Ores Bought will Depend
Upon Circumstances Influence Of
Freight Rates-Etc.
Superintendent Moulton, Of the
Philadelphia Mining and Smelling
Company, who returned from the East
last Monday, was IN town to-day. He
informed TIMES reporter that no
dividend had been declared by the
company. He could not say whether
the company had earned any profits
with Its smelling works yet, as he had
not had charge of the company's af-
fairs long enough to tell, and he did
not consider it his province to exam
inc the hooks for years past. But
from this time on he will know what
he is about, and there will be no con-
tinual loss, as the works will shut
down first. He knows that, on some
classes of ore flor instance, those car
rying from 65 to 80 per cent. lead)
the company had lost from $40 to $l2
on every ton worked; but he was not
prepared to say how the company had
done in the aggregate. This much ke
did know, to-wit: That not dollar
was due outsiders; if the company
owed any money, it was to some of its
members. And as four of these men,
bers represent an aggregate of over
$4,000, 900, they could afford to be
out.
Concerning the future policy of the
company, he was not prepared to
speak, as he would have to make at
last one more trip East Tin month
or SOY before he could fix upon rates,
even approximately. TO be sure, the
company would buy ores this year, the
same as last; but how high he could
go in lead, or what rates he could
pay, he has no idea.
The fact is, that the Wood River
mines, while dependent to a degree
upon the New York market for sill.
yer and lead, are much more so upon
the rates of freight. While the d. &
4. G.. and L. P. roads were
cutting freight rates, Salt Lake could
afford to buy our high grade
lead ores; since the compromise she
cannot. This is only an instance.
Again: Coke costs in Denver IS to
SO per ton; in Omaha, 80; in Utah,
$40; in ketchum, $27.25. All the
coke comes from either Connellsvillc,
Pa, or Trinidad or Crested Buttes,
Colo. None can be got elsewhere.
Now, the freight rates between those
points regulate the cost Of coke, and
it is evident that with coke costing
s27.25, the Philadelphia company's
works cannot smelt ore as cheanlv AZ |
works situated where coke only costs
s. to $40.
Another instance Of the influence of
freight rates: During the cut, bullion
could be sent to Omaha from Utah for
about So per ton; from Wood River
during the sne time, it cost $27 per
ton to get the bullion to Omaha. As
it only required about ton and half
OF Is per cent ore to make u ton of
bullion, the preponderating influence
Of the rates of freight will be readily
admitted.
The Philadelphia works will be kept
going. There is no doubt about that;
but the details of their operations
that is to say, the rates OF charges,
buying rate of ores, the limit of lead
which they must contain, etc, lis not yet
known, and cannot be for some time.
But, in the meantime, the other mar
kets (excepting Kansas City, which is
excluded) are all open to
shippers; and they can ship where they
want to, and get the best rates of the
market to which they ship.