New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-20
learned who II there a sensation mis-
Is the first direct blow at Smith during the trial
TO FIX THE PRICE OF SILVER
SEvEN-TENTHS OF THE WORLDS OUTPUT
UNDER CONTROL.
REFINFRS AND SHELTERS DISCUSS MEASURES
LOOKING TO THEIR RELIEF FROM EXISTING
DIsADVANTAGES-NO FOREIGN CAPT.


DISADVANTAGES-N FOREIGN CAPT.
TAIL IN THE PLAN.
The rumors from the West saying that synd-
cate had been formed to control the entire silver
output OF this country and Mexico and possibly
that Of the world have OF course. attracted wide
spread attention in financial circles. and have been
the subject OF much comment AMI discussion among
those interested in the silver market The rumorS
first appeared in The Rocky Mountain News. or
Denver. col. and were commented on in last Satur-
days Tribune. They went far to say that the
scheme being financially backed by the Roths-
child. and John d. Rockefeller. Of the Standard Oil
Company II was alleged that the syndicate in
tended 20 obtain absolute control of all the refining
and smelling establishments in the United States
and Mexico, and fix the price of silver to suit
itself
This startling and sensational tale had its founda-
ton IN meeting Of silver smelters and rehners
he.d in Denver last week. The meeting was GER
tain.v held to formulate plan to improve the
business OF the reiners and shelters represented.
but the plan which was acted upon was different
from that embodied in The sensational story re-
frrra1 -.
with no effort to fix standard price for silver
in this country by the smelterS and miners by
concerted action. the silver men say they have Deen
At the mercy Of the European purchasers Of silver
AMI ny tho method on which the business was con-
Quoted between the purchasers and sellers they were
often working in direct opposition 10 one another
/, was to remedy this and for other reasons the
meeting was held in Denver last week. They VIII
probably be more clearly understood by the eN-
p.anation Of the Of the meeting given to a
reporter for The Tribune last night by Daniel GuS-
genheim Of the firm Of NJ Guggenheims Sons.
smelters and refiners. whose New-York offices are
at 80. & Cedar-st
Mr. Guggenhem returned from Denver yesterday
He said THE object OF the meeting was to invest-
gate the feasibility or practcablity OF selling the
product through committee to be appointed win
Headquarters in New-York city. instead OF each
man or firm selling his product as at present.
\ committee was also formed get az much intel
liSent Information possible regarding the demand
and supply OF silver In the world
This Mr. Guggenheim said. the whole object
OF the meeting The committee appointed OF which
he one. would report at future meeting lie
characterized ridiculous the rumors that OUTSIDE
capitalists or capital had been taken into the
project 80 capital was required. The object OF the
scheme was not to buy up the silver mines OF this
country and Mexico or in any way alter the exist
Ing relations between the refiners and smelters
and the mine-Owners and operators nut 10 preVen''
in measure AZ Least. the present huctuation IN the
price of silver by establishing one silver market II,
This country II Is 20 be in New-York city, and
conducted by The refners and smelters committee
Then the European purchasers Of silver will be un-
able t. cable Offering price Tor silver 10 ohe
man and a different one to another: ~
s-ven-tenths ~ the silver output of the world me
amount Is about 100000 ounces. ana the toLal out
pl' from lo0n0cn To ll5.rOpp ounces: rms l.
about the estimate mad bv Mr. Guggenheim. ne
ir,r,ranro ~ ,his movement establish the silver
market of the United States and Mexico IN TINS cI.l
viii be- readily seen. 1t Is probably not 50 easy 10
ST.. what the outcome viii be. In the opinion OF me
silver mon T. clnnot fail t. bring good 10 reIlne, =
sm.ltsrs and miners. and may oTins ABOUT '"'' ~
sr.l end-a fixed price for SILVER. IL.
Among those in attendance at the Denver meetiIS
wor- Daniel Guggenheim representing tne HIEsen-
h.irn Smelling Company a PTth Amboy, y D., tle
Great National Mexican Company at Monterey;
My and tho Guggrnheim Smelling company OF
N,-ilas.a.ent. Mex, the Phllddelphla refining anu
Smelling Company, At Pueblo col; Messrs, ira' 81
Grant smelling plants. at Omaha ana lenNer' tu
,r,s, y Meyer Of the Kansas CITY ConSondatti
Iae,tmg AMI smelling Company; Mr.. Allen. of the
pu~blo Smelling Company; Mr. Dwight. OF the Coin-
rad, Smelling Company, also representatives, VI '''
t;l,h. Argo and other large companies: 49,,
Tho firm Of VI GuCgenheims sons Is ont OF .iy vi,
,,r,.s, IL the world II contains eight members; an
hr,fhers They are Meyer Guggenhelm isaac uus
',.,bsi,n Daniel Guggenhem. Morris fusgehhrim
;. 49, Gugg.nhcln William Guggenheim. Ben
,..,,in C;ugg.nhelm and simon Guggenheim