The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-07-01
PLANS FIGHT ON
SHELTER TRUST
Colorado Will institute Proceed.
ings to Dissolve Combine.
GREAT DETRIMENT TO STATE
EXCESSIVE CHARGES ENABLE
THEM TO PAY BIG DIVIDENDS.


ings on behalf OF the state Of
Colorado to dissolve the smelter
trust were started in the supreme court
today
In a voluminous complaint, filed by
Attorney General Post it is set forth
that the American Smelling & Rein
ing company and several other smelter
concerns are in a combine to restrict
competition in the smelling business;
that the results of the monopoly are in
furious to the industries of the state;
that it is violating the laws, and that
it is paying unreasonable dividends
upon excessive and fictitious capitaliZa-
ton.
The complaint concludes with a de-
mand that the defendants be adjudged
to have forfeited their rights to do
business in the state, and that they
be ousted and forever excluded from
doing business in the state, and that a
receiver be appointed to take charge
of their property.
The court stated that in fairness to
the defendants they should receive no
LITIGATION of the suit, therefore fling
proceedings was withheld until they
can be informed OF the contents of the
hearing on the states right to proceed
with the suit will probably be set down
for next Saturday.
The defendants in the case are; The
American Smelling & Refining COM
pany, the Omaha & Grant Smelling
! company, the Pueblo Smelling & Re
filming company, the Bi-metallic Smelt-
ing company, the Colorado Smelling
company and the Philadelphia Smelt-
ing & Refining company. The COM
plant recites the facts of the fOrma-
ton of the trust in New Jersey with a
capital stock of $65. 100000 and adds:
Created a Monopoly.
"That said American Smelling & Re-
filming company was organized by the
aforesaid defendants for the specific
| and deliberate purpose of creating a
monopoly of the business Of smelling
and refining gold and silver and other
| valuable ores and metals as aforesaid,
and to substantially engross the same,
contrary to the public policy and the
laws of the state of Colorado"
Subsequent to the Incorporation of
the American Smelling & Refining
company, it is said this company un-
| lawfully conspired With and induced
| the other defendants to transfer to Il
| all the plants in the state for con-
sideration of s65, DOC, 900, each concern
to receive its pro rata share. The Phil
adelphia Smelter at Pueblo, it is stated,
was conveyed to the trust for $S5, 600
| in stock of the American company.
/ Then follows severe arrangement OF
the companys methods, particularly
excessive charges flor the smelling and
reduction of the gold and silver ores
| which are shipped to it by the people
of said state" conniving with railroads
| to destroy competition and wrongful
/ ly keep back for its own uses the diff
| ferences between the published freight
rates and the said secret rates wrong
fully secured by said American Smelt-
! ing & Refining company as aforesaid.
Have Shut Down Plants.
The trust now refuses to receive for
| smelling all of the gold and silver ores
| offered to it by the citizens of Colo
RADIO, it is stated, and that said Amer
| lean Smelling & Refining company, in
| order to further carry out its said con-
spiracy and unlawful monopoly, and in
disregard of its public duties and obi
cations, has shut down and dismantled
| divers of its smelling and refining
plants, to the great injury of the pub
lie said American Smelling & Refining
| company was supposed to serve.
That said plants were prosperous
/ going concerns prior TO their convey
| ance to said American Smelling & Re-
filming company as aforesaid. and would
but for said conduct of said American
Smelling & Refining company, be pros
porous going concerns to this day
Further in the complaint, it is al.
legged that "by reason of the awe which
said American Smelling & Refining
! company has inspired in the hearts o.
the railway managers in the state o.
Colorado. thereby securing secret and
more favorable freight rates than are
enjoyed by the general public of tn,
state as aforesaid. and by reason of thu
extortionate and unreasonable charge:
demanded and received from the people
for the smelling and reduction of theil
ores as aforesaid, the said American
Smelling & Refining company has beer
enabled to pay, and does now pay, ex
cessive and unreasonable dividend.
/ upon an enormously excessive and fic
titious capitalization of 500, 900 000.'