Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1890-03-03
.Te|egraphic Tidinggs.
TRUST AGAINST TRUST.
l. Gigantic Corporation Movement In
which Miners may BE squeezed.

TENvER, March 3.-tOr some time there
have been rumors in different parts Of
tie state about al alleged contemplated
ombination OF smelling works, The
-nelter people OF Dever and Pueblo when
interrogated on the subject have denied
HAT they know nothing about it, But
the facts are gathered in Chicago, where
several meetings have lately been held
1t has been practically agreed upon that
a vast corporation shall be formed to be
known az the United States Refining d
Smelling company and composed of the
following plants.
The Omaha & Grant Smelling & Re-
lining company, of Omaha, Neb. the
Kansas CITY, Smelling x Refining COM
pany, of Kansas City, Mo ; the Pennsyl.
wanna Lead company, OF Mansfield, Pa.
the Chicago Smelling 4 Refining com
pany, of Chicago, Ill. the Aurora Smelt-
ing & Refining company, of Aurora III ;
Messrs. E. Balback & Co., OF Newark. n.
J. the Omaha & Grant Smelling & Re-
fining company, of Denver, Colo the
Globe Smelling 4 Refining company, Of
Denver, Colo. the Pueblo Smelling &
Refining company, Of Pueblo, Colo the
Colorado Smelling company, Pueblo,
Colo. the Philadelphia Smelling & Re
finipg company, OF Pueblo, Colo. the
Arkansas Valley Smelling company, OF
Leadvlle, Colo. the American Mining &
Smelling company, of Leadville, Colo. ;
the Manvile company, Of LeadviIle,
Colo. the San Juan Smelling company
- fNn1n fhn IJnnonnr o,1,nltnx
of Salt Lake City, Utah; the Mlngo
Furnace company, of Salt Lake City
Utah. the Germania company, of Salt
Lake City, Utah; the Helena & Living
stone Smelling & Refining company, of
Helena, Mont. the Montana Smelling
company, of Great Falls, Mont; the FL
Paso smelter, OF Ell Paso, Texas.
The only companies not yet in the deal
are
The Globe Smelling & Refining COM
pany, of Denver; the Messrs. Babcock x
Co., of Newark, n. j.; the San Juan
Smelling company, of Durango, Colo. :;
the Pueblo Smelling q Refining company,
of Pueblo, and one of the Salt Lake com
panies.
The capital stock agreed upon for the
trust was $25, 900 900, of which $l5, 900 900
is to be common stock and the remaining
$40, 900 900 preferred stock. The COM
mon stock is to be used for the payment
OF the fixed properties that 90 into the
new organization, and the preferred stock
for the purchase OF ores and such personal
property as it may be necessary to have.
The preferred stock is to bear per cent
interest and to be redeemable in eight,
ten, twelve or twenty years. The re-
deemable price fixed for eight years is
| IL, ten years Ito, twelve years LOS,
and twenty years par. 1t was also deci-
ded to found sinking fund, and for this
purpose it was agreed that for the first
two years $250,0OO in profits should be
laid by annually and that for each year
thereafter an even half million should be
added to the fund,
While the organization will be great
surprise to the public, something of this
kind has long been expected on account
of what the smelters have repeatedly said
during the last three years. Ever since
the organization Of the lead trust, which
is known as one Of the most powerful
trusts in the world, the sMelters have said
that they would be forced to protect them
selves, and they are at last taking steps to
do SO. The price of lead is made to l1uc-
tuate at the will of the lead trust, and not
only the smelter, but the miner, is the
loser thereby. All who deal in the metal
feel the effects OF this powerful organiza
ton, and when it sees fit it crushes the
life out of all who may be in its way.
The smelters claim that by this organiza-
ton such strong union will be formed
that the force and power OF the trust will
be forever broken that the miner will get
the full value OF all the lead in his ores,
and that with the prosperity of the delv-
ers in the hills the smelters will have
only an equal part.
1t is said that the enemies of the new
organization will insist that this is done
to control the price OF ores, to the injury
Of the producer, but this is strenuously
denied, and it is insisted that the miners
will make as much money as themselves
nv the new deal