Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1900-06-23
Trust Agrees to Hold the Price
at S4.12 1-2 for Term
of One Year.
PRODUCERS MUST SIGN A CONTRACT.
Proposed Organization of Ore
Producers is to Be
Abandoned.

Iue proposed plan 10 organize the
lead producers of the country for
the purpose of controlling the lead
market is to be abandoned, at least
for the present. The Salt Lake
Herald gives the details of propo-
sition by the American Smelling q
Refining Company, which appears to
30 satisfactory to the lead producers
of Utah, and there is no doubt that
the agreement will be perfected
within a short time. The Herald
says:
There will be no lead producers
association formed in Utah along the
lines suggested at the two meetings
held last week at the offices of BAN
berger a. McMillen.
The scheme for gigantic compact
between the mine owners all over the
United States will fail; at least, it
will be agitated no more for the
present. For a time the scheme
looked as though it might be carried
out, but now the smelter trust man
ayers have made proposal to keep
the price OF lead at "a 1917 for a
period of one year, the rate to apply
only on condition that the leading
producers in the country agree to
furnish their ores to the American
Smelling a. Refining Company for
that period, but at the expiration of
six months either party may With.
draw from the compact.
By this arrangement Manager L. II.
Jones Of the smelter combine says
that the American Smelling Il Re-
fining Company will assume all
responsibility of keeping up the
price of lead to 81 1917. and does
away with any necessity of the pro.
ducers forming an association for
the purpose of doing just what the
smelter combine proposes.
As it now appears, the smelter
people propose to take care of the
alleged surplus lead in the country
themselves; they are not going to
allow the producers to get onto the
inside workings of things any more
than they can help, so no contribu'
tions will be received from them to
help bear the burdens of buying up
the surplus lead, aud no executive
committee of the producers will en-.
ter into the councils of the smelter
trust when it comes to regulating
the price of that metal.
The rate of ST 1917 will go into
effect as soon as the most important
producers enter the new compact
with the smelter combine. Mr..
Jones does not believe there will be
any trouble in getting the mine
owners to accept the proposition
made. Should they fail to come in
the matter will be dropped and the
chances are there will be no improve
ment in the market price of lead.
The S4 1915 rate will be the New
York quotations, out OF which must
be deducted the usual transportation
and other charges.
For the past two or three days Mr..
Jones has been working with the lead
ing mine owners. j. +. Bamberger
las taken an important part in the
movement and has used his best efforts
toward getting the producers to agree
to the latest proposal.
Mr.. Bamberger represents the Gug-
genheim smelters, the latest absorp-
ton of the smelter combine.
The managements of the Daly-West,
Silver King, Ontario, Anchor, Silver
Shield, Petro and several other mines
are willing to sell their lead ores for
$4 1917 and have signed contracts.
Uncle Jesse Knight came up from
Provo last night and will probably add
his name to the list today. John A.
Hunt OF the May Day is also expected
here today for the same purpose.
wanted.
Several bright aud honest persons 10