Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1900-06-09
Important Meeting of Ore Pro-
ducers Held at Salt Lake
City.
PLAN OFFERED TO CONTROL MARKET.
Producers Will Try to Adjust
Question of Supply and
Demand.

held at Salt Lake City on tuesday
evening for the purpose OF determining
what course to pursue in an attempt to
restore lead to its former price. 1t is
claimed by the bears in lead in the
East, says the Salt Lake Tribune, that
the fall in price is caused by its over
production that only the natural laws
Of supply and demand are in operation,
and that these have caused the present
unsatisfactory state of the market.
Whether this wholly explains the con-
ditions governing now or not, is one OF
the questions for lead producers tocon-
slider. At all events, a general move
ment is said to be on foot to limit the
production to such an extent that too
much lead may not be pleaded as an
excuse for throwing the market down.
J.. f. Bamberger presided at the
meeting and after stating its object he
explained that a few of the Western
lead producers in Utah, Idaho and
Montana had united some time ago,
and by their combined effort had been
able to maintain the price OF lead for
about three months in the neighbor-
hood of "a 571a per hundred. The
cause Of the recent slump in the price
was the refusal of the Missouri lead
producers to share any portion Of the
burden, while they we're unloading all
the lead they could mine at the price
| which was being maintained by the
Western producers.
Mr.. Bamberger stated that there
was about 25O, 900 tons of lead produced
in the United States every year.
All OF this product is consumed in this
country except about 10 per cent of
the total, OF % 900 tons, per annum ,
which ~accumulates as a surplus. The
smelling companies have TO hold this
surplus or export it at a loss when lead
is "a % per hundred or over.
In order to take care OF this surplus
it is proposed that each lead producer
shall contribute so much per ton for
| the metallic lead contained in the
ores, to be used for the purpose OF pro-
tecting the loss ON the 10 per cent sur
plus above mentioned. which must be
exported. 1t is proposed that when
lead reaches 81 % per hundred pounds
that the amount contributed by the
lead miners shall be 81 per ton. When
lead goes to $4 80 per hundred pounds
the contribution is TO be 50 per ton, and
when it reaches 81 65 per hundred
pounds or more then the assessment
will be SO per ton for metallic lead pro-
duced by each mine. The smelter
people are to have nothing to do with
the management OF the business. The
lead producers are to form a national
organization and direct its affairs. The
only part the smelters will have in the
transaction is to retain the schedule
assessment out OF each lot OF silver.lead
ore and pay it over to the proper Off
GERS OF the Lead Producers Association.
This ia to be in accordance with a prop
erly executed authorization by each
member Of the association.
MI. Bamberger stated hat the diff
ference in a beneficial way to the Utah
lead producers would amount to from
$50, 900 to 100000 per month, while the
expense to the mine owners would be
very light; only a few cents per 100
pounds on the lead produced.
1t was also stated that the mainten-
ance of the price OF metallic lead would
not affect the price of white lead, that
had remained the same regardless OF
the price OF metallic lead during the
past year or more.
The gentlemen present all expressed
themselves as favorable to the organ
ization of the proposed association, and
on motion a committee consisting OF
). f. Bamberger, A. Hanauer, Thomas
Kearns, Jesse knight and G. f. Loof-
bourow was named to draft a plan OF
organization. which is to be submitted
to another meeting of mine owners on
Saturday evening.
The following gentlemen were
among those present: A. H~anauer,
Thomas Kearns, David Keith, Charles
Read, III. G.. Mcmillan, G. E. Allen,
j. ID. Wood, @. F. Loofbourow, ID. O..
Mclaughlin, III. f. Zerbe, John
Brooks, H. s. Joseph, N. Treweek, s.
B. Miner and G. III. Scheu.
1t is said a movement similar to the
above has already been inaugurated in
Missouri and also in Idaho, and it is
understood an attempt will be made to
induce all the big producers of the
country to agree to keep the supply
down to the demand, in this way pre-
venting the Quitting of the market, and