Potosi journal. (Potosi, Mo.) 1894-1929, 1901-07-10
Syndicate not Seeking Control Of
the lead Output.

F. w. Scofeld, general manag-
er of the Federal Lead Company,
and representative at St. Louis of
Guggenheim interests in the dis
seminated lead fields of Missouri,
returned Thursday morning from
New York. He denies that the
merging of the interests of the
Whitney Ryan Rogers syndicate
and the Guggenheims in New
York, with a capitalization of $50, :
600, 900, is for the purpose of con-
controlling the output of Missouri
lead. He says:
additional properties will be
bought in the next two weeks.
Negotiations sre under way for
the purchase of the former pro.
perties of the Missouri Lead Fields
Company. We expect to close
that purchase the first of next week.
We now have the Derby Lead
Company, the Irondale Lead Com
pany and the Federal Lead Com
pany. These properties and all
other properties we secure will be
controlled by a company to be
formed, most likely, under the
name of the Federal Lead Com
pany. This matter is not definite
ly settled"
Mr.. Sco6eld will be general
manager of all the properties to be
merged under the management of
the new company. He said:
''Work will be commenced with
in the next two weeks on a smelt
ing plant, to be located north of
East St. Louis ON the e. P. & St.
l.. This plant will have a capa-
city of $50 concentrates a day.
We will smelt all the products of
our mines there, and will also be
equipped to smelt the concentrates
of any independent companies
which sell their products to us.
The plant will he operated under
the same management. 1t will
cost more than $3.50, ,OOO."
The Federal Lead Company,
Mr.. Scofeld says, has in process
the erection of a mill of more than
500 tons capacity. Shafts are al
50 being sunk. Ths Derby Lead
Company has two shafts in process
of sinking. The Irondale Lead
Company has one shaft on it, and
a 2OO-ton mill under construction.
The Murrill tract, which is a part
of the property taken through the
Irondale company, has one shaft
in process of sinking. These new
shafts will be sunk, and the ereo-
tion of tho mills completed in a
short time. More shafts will be
sunk, and the milling capacity
still increased until the combined
production reaches 1000 to $500
tons day.
About 8, 500 acres of lead lands
in St. Francois and Washington
counties, Mr.. Sco6eld says, will
be under the control of one man
agement. Mr.. Sco6eld probably
will make a trip to the lead district
Saturday to inspect the property,
and will then 70 to New York,
when the plan Of organization will
be decided upon.
The merging of various interest.
under tho management of the
Guggenheim Exploration Company
was the result of thol stockholdert
of the various companies finding
that they had thoir capital in direct,
~ competitive interests. It dawn.
ed upon them that rs a matter o1
economy and elf-protection th.
wise proposition was TO place theil
interests under one management.
The Gnggcnheim Exploration
Company was organized two year,
agD for the purpose Of purchasing
and operating mines. There wer'
the Standard Oil interests and th,
Whitney Ryan interests. Thes'
interests are now merged"
The Electric Storage and Battery
Company consumes large quaint