Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1892-11-15
OUR MINI S.

work In Them Will Have 10 be I0dsf.
ni.eiy Suspended.
'"What effect will the coming
change OF administration have on
Id.bo?" = TIMES reporter asked Mr..
Price last evening.
81 am not prepared to say, As have
been too bus, to give the subject much
thought. The tariff protected lead
and wool. These are our principal
products. Very few Of our other pro-
ducts were greatly benefited by pros
lection. l agree with w. II. Watt,
who has studied tho question and kept
track OF the ore market for years, that
il the high tariff had never been i'm.
posed 90 lead il would have been jus.
~ we'll il not better for vs.. What
effect the removal of that tariff will
have, l cannot say. Mr.. Watt seems
to DO OF the opinion that while it will
unsettle the price Of ore for . while it
will be better for US in tho long run.
Certain it is that the tariff has not an
swered our expectations. 1t should
have been prohibitory. Tho Red
Cloud Company's books show . uni>
form decrease in the price OF lead Of
about Eve cents per 100 pounds per
month. In connection with the low
price OF silver, the price of lead Is
very d,scourag'ng. The margin Of
profit is 50 small that, even with our
superior advantages io the way OF size
Of bodies and value Of ore. l can see
that if the market does not mend, We
must SOON mine 1t q loss.
1--WE have somewhat foreseen this.
Some time ago We began preparations
to use water power instead of steam.
We are now ready aud only awaiting
the receipt Of our machinery from
New York. As soon as it arrives va
will put it in position and use It.. In
this way we will save in wages and
fuel alone about 1920 or $1,000 per
month. Bat even that will no. insure
US profit il the market keeps drop
ping"
slave you no hope of silver?"
asked the reporter.
avery little" Mr.. Price replied.
ain fact, il | owned the Red Cloud
mine property, instead Of only = part
of it, l would stop work at once. Al
except the tut mel work. This tunnel
Is to be 5000 to $500 feet long, and is
expected to tap the veins .. . depth
Of 1000 feet. II will take about u
years time and an expenditure oil
$4,000 to $4,000 to complete it
Then we will be able to work more
cheaply. With this exception it
would be money in our pocket to sus.
pend operations and await better
prices-no matter how long they ma,
be coming"
"Do you anticipate the shutting,
down OF the mines?"
Mo, do not anticipate it. ] con.
/ "a ,1nH~ l.
compelled to shut down, if they can
not work to profit. And l really
fear that all the mines in Idaho with
the exception of those of DeLamar
may have to be closed"
"Do you expect = reduction in
wsges:'
Mo. l do not believe single mine
owner in this region is thinking Of
reducing wages. But believe ,hs,
many, If not all of them, contemplate
the possibility OF shutting down. The,
must. as there may come q poin,
where they will have to. They vii
not attempt to reduce wages. Ons
reason for this will be that, ~heneve,
any attempt has been made to reduc,
wages it has cost too much-in man,
instances moro than the reduction
compensated for. Every mine owne,
who has ever made up his mind L
reduce wages has always succeeded
He always will. But as it is cheaper
to shut down the mines, they will b,
shut down."
"But YOU do not anticipate that TIL;
will be done immediately"
mo. not Immediately. But, As
said before, the margin Of profit i
very small; and itlead keeps dropping
five cents per month and no reli.