The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-08-19
0SG00D May KEEP
UTAH IRON MINES
New Phase of Colorado Fuel &
Iron Affairs.
ANNUAL MEETING TODAY
MOFFAT AND PHIPPs REPORTED
TO BE IN NEW DEAL.
NC TODAY

Some Of the most valuable iron
claims in southeastern Utah, obtained
I'm the first place for the Colorado Fuel
& Iron company. may become Part Of
the holdings of a new company con-
trolled by John G. Osgood and associ-
ates. Some extensive and valuable iron
claims in Utah have been acquired by
representatives of John c. Osgood
while he was at the head Of the Colo
RADIO Fuel & Iron company In most
Instances the records show other names
and il is understood that nearly all
the properties are being held under
contract TO Mr.. Osgood personally or
some Of his close associates. Having
been forced out of the control Of the
company, IL is believed he may retain
the iron holdings for his own benefit
Utah men are watching with inter
est for developments at the annual
meeting of the Colorado Fuel q Iron
company to be held in Denver today.
Although John G. OsgOod's name APP
pears ON the proxy committee little
significance is attached to this. II is
known that the Rockefeller Gould in
terests have acquired an overwhelm-
ing majority of the capital stock, leav-
ing practically none outstanding. It is
stated that the -Hawley in
terests have practically sold out This
fact is taken as encouraging the belief
that +. Fl. Hartman may become iden-
titled with a Utah iron and steel en-
terprise.
May Come Into Utah.
There is a possibility, according 10
a man in close touch with the situa-
tion, that both OsgoOd and Hartman
may become identified with the devel-
opment Of an iron and steel industry
I'm Utah. The names Of ID. II. Moffat
l.
this connection. Mr.. Phipps' previous
association with the Carnegie company
has led to the suspicion that the
United States Steel corporation. Of
which he is a heavy shareholder. may
he interested. There is no cOnfrma-
tiou of this as yet.
Utah men who are watching the sit
uation are anxious to see whether Os-
good or his opponents will show their
hands to any degree at the meeting to-
day. OsgOOd controls large iron and
coal deposits i'm Colorado. New MeXi-
co and Wyoming, in addition to the
iron claims in Utah. and it is thought
ne may hold back these sources of sup
ply of raw material if any move is
made which he may regard as too
hostile. In any event, Rockefeller and
Gould will name the board of directors.
The story of the subtle. waiting game
of years duration by which John D.
Rockefeller gained control of the Col
orado Fuel & Iron company and forced
out Ogden is told i'm the New York
Commercial Of a few days ago. a
representative of the Standard oil
company" is quoted as saying that
Rockefeller began laying his plans
years ago to capture this big corpora
ton. This interview says:
Laid Plans Years Ago.
"Mr. Rockefeller does not go into
things blindly. He realized there was
a great future for the Colorado Fuel
& Iron company and took advantage
of the plan looking toward enormous
expenditures to secure control Three
or four years ago, there were few mon
eyed interests associated with the cor
poration and he realized that they
would have their hands full to float
such a gigantic issue of securities.
Then "A futile attempt was made to
control the property by certain specu-
latiVe interests. The result was nat
ural. Colorado Fuel q Iron shares,
through unbusiness-like operations.
started to decline. The people assoCi-
ated with the corporation were unable
TO support the stock.
They could not meet the bills in
connection with additions and i'm
provements. George J. Gould cOmmu-
nicated with Mr.. Rockefeller. An
now in absolute control of the proper
ty. They own the stock and care very
.Alittle whether the shares go up or
down. They made the purchase as an
investment. not for speculative Dur-
poses. such as characterized several
attempts to gain control.
STANDARD Oil and Gould interests
are not worried over the reports that
John G.. Osgood and his friends con-
template an opposition company TO
the Colorado Fuel & Iron company.
There is plenty Of room in the west
for half a dozen steel companies, each
as large as the company we represent.
The steel produced west of the Missis-
sippi river is but a drop in the bucket
as compared with the steel produced
east Of the Mississippi
I'VE have the advantage in the mat
ter of freight charges and have the
far east with its millions Of popula-
ton to draw from. AS a speculative
stock. the Colorado Fuel & Iron COM
pany has lost all its attractions.
THE shares owned by Rockefeller
and Gould are locked up i'm vaults and
80 will be long time before they make
4 their appearance in the market. I an
ticipate that the new plants OF the
Colorado company will be running full
within the next two years. In the mean
time. the controlling interests viii not
discuss dividends on the common
stock
TTTTTE ONES AT CATnER,S