The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-28
BETTER PRICE
FOR UTAH LEAD
Outlook Good For s3.624 to
$3.75 Basis.
CONFERENCE ON IN GOTHAM
COPPER RAECH COMPANY is TO
RESUME OPERATIONS.

Utah mine owners are practically as
sured of higher price for lead during
the coming year, eompensating for the
prevailing low market for silver. 1t is
understood that the settling price for
lead on the Salt Lake market may be
1915 a hundred pounds instead of ST.
a hundred. as it has been the past
year. This is the figure for which the
leading producers are holding out. and
advices from the east yesterday were
TO the effect that the American Smeit-
ing & Refining company is willing to
concede $S.6215. (which is an advance
of 125z cents a hundred.
A conference on the subject is now
in progress in New York, where the
smelter trust has its main Office. The
Utah producers are represented at the
meetings with the smeIter officials by
David Keith of the Silver King and J..
E. Bamberger of the Daly-West- Con-
tracts between most of the big pro-
dUcing mines and the smelter trust ex-
pire Jan. I. The trust was des{rous of
renewing contracts for 1903 on the same
basis. but the Utah men have de-
manded a better rate on lead
With the prospect of competition in
the smelling field, the mine owners
believe they can be more independent,
but that is not their only card. An
alternative which has been preached
and which may be adopted is for the
! big producing mines to dispose of their
lead on the open market instead of
selling to the smelter. At present the
/ smeiter is settling on a nominal basis
of $3.50 a hundred for lead, but it is
! charging the producer $3.50 a hundred
/ for freight east and for refining the
bullion. and allowing for only 80 per
/ cent of the metallic contents, making
! it net $3.50 a hundred.
The price for lead bullion on the New
York metal market throughout the
year has been $4.125a. and the demand
/ is increasing and prices are firm The
maximum cost for refining lead is IS a
/ ton. Freight from Salt Lake to the
Atlantic seaboard is S14.35 a ton. Fig
uring on basis of zoe pounds. it would
cost 80 cents for refining and 7174 cents
| for freight The loss in refining is said
i to be much less than 10 per cent, but
allowing that amount, the producer
/ could ship his lead east, have it re-
/ fined and sell itson the open market at
s4.I21k, netting him $50 per 100 pounds
instead of $3.50, as at present.
This is a clear profit of 81 a hundred
oeer present settling prices, provided
lead should remain at the same price
From this. of course, must be deducted
interest while waiting for the lead to
! be sold, brokers' commissions and other
! incidentals, but men who have been
doing some figuring see a handsome
margin if lead should remain station
airy in price 49,
The fear that the trust might bear
the price is the principal menace t.
/ the producers The p1arket has beer
maintained by the trust, according te
agreement with the mine owners. This
influence might seek to punish the
mine owners, should they act indie
pendently, by forcing down the price
For this and other reasons the pro
ducers are willing to be conciliatory
but it is not impossible nor improbable
that a large proportion of Utah's Lead
I output may be sold next year on the
open market in New York, while some
of it may be treated at independent
smeIters. The best opinion, however
based on advices from New York. yes
terday, is that the contracts viii bt
signed on basis of $S-621a to 50 rs
Salt Lake City price. other arrange
ments to be practically as before