Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-27

Cnlemanite mine at pagget. CAL, and
is holding idle such important deposits
as those in Deaths Valley and San
Bernardino, Cal. and those in Nevada.
One or two small deposits, such as thoaa
at Columbus, Nevada, may beworked
on shares but the product of these
small properties all passes through the
hands of the Pacific Coast Borax Co.,
and no crude borax is obtainable ex-
cept from this company.
A WORLD TRUST.
Prior to the latter part of 1894 the
foreign market was in the hands of an
European syndicate which had virtu-
al monopoly. This foreign syndicate
had an understanding with the Pacific
Coast Company through which the lat
ter was left to the employment of the
American market Soon after the re-
duction of duties in 1894 and the low
price at which our trust was compelled
to sell, our producers began an aggres-
siye warfare On the foreign monopoly.
In June 1896 the Pacific Borax & Red
woods Chemical Works, Limited, was
incorporated in England with a cap
ital OF $2,500,o0O and 100000 of bonds.
II took over the business and properties
Of the Pacific Coast Borax Co. and of
Redwood & Sons, chemical manufactur-
ers in England. Mr.. F. NJ Smith be-
came the managing director in the
United States. This new English
American combination carried on such
an aggressive and expensive warfare in
Europe that in January, 1899, the for
eign manufacturers cap,tuated and
sold their interests to a new combina-
ton, dictated by the California prcduc-
'ers. This new combination is the b.
rax Consolidated Works, Limited, with
capital of 100000 1t is an amalga-
nation of the twelve principal borax
producers and refiners of the world.
These are not all the mines and
sources of production in the world, but.
according to the Oil, Paint and Drug
Reporter of January 80, 1899, nearly
the whole supply of the world has been
obtained from them.
This brief description of the horax
industry and Of the tariff rates and
trusts connected with it will enable
the reader to understand and appre-
bn af DO
and trust prices as exemphfed by this
industry. Lack of space will prevent
the statement of more than a few of
the most salient effects.
TARIFF PRICES AND PROFITS.
Four days after the Mckinley bill be-
came effective, in October, 1890, the
California trust raised the price of
borax (Which had been 81 to SA cents
in August and September of 1900 to
9A to 93s cents per pound.
The Wilson bill took effect on Au-
gust %, 1894. The following comment
is from the Oil, Paint and Drug Report
er of December 81, 1894:
"The sweeping cut in the price of
borax, which we announce in another
column, to take effect January l, 1895,
will be a great surprise to the trade,
as the impression has become current
that no further reduction would be nee
essary to enable the Americans to keep
out the foreign and retain the COM
plte control of the home markets The
net decline in the price since the new
tariff came into operation is 2A cents
per pound on crystals and powdered,
and az cents per pound on refined in
bags"
On February 4, 1895, the same jour-
nal said:
"The Pacific Coast Borax Company,
finding the results of its efforts to place
iborax within the reach of all at re-
duced figures to have been so satisfac-
tory, has issued another circular an
nouncing still lower for the current
month, and which are lowtSs gtsan
boraz can be imported for or produced
here, except under the most favorable
conditions"
On October 81, 1895, the same author
ity said:
in the years that have passed large
profits were made, and it may be neces-
sary to cut into them, if the competition
now in progress is of long duration.
At the same time there is reason for
believing that the California producers
are making money under existing con-
ditions.
There is no danger of any further
competition with the foreign article.
The manufacturers in Eng
land have not renewed the syndicate
agreement, and there does not appear
to be any likelihood of their doing So"
DINGLEY BILL PRICES.
The articles on borax in the OIL Paint
and Drug Reporter tell different story
under the Dingley law, which took eff
feet July "a, 1897.
On August 80, 1897, the Reporter
said:
THE new tariff has materially altered
the situation in borax in this country
There is now no possibility of
any competition being feared from