The Washington herald., 1906-12-30
Capitalization Of Control in
Mining Industries.
AMBITIOUS MEN ARE AT WORK
Plans of Standard OIL Interests, the
GugEenheims, and the Steel Trust
to MonopoIize the Gold. silver, Cop
per, Iron, and Lead Production of
the New WOrId-COaI Fields Next.


tries Of this country, and the year just
closing has been fruitful Of several nota-
bic victories. The freuzied speculation in
the securities Of new companies has been
the most spectacular feature Of the min
ing year, but other developments Of
deeper and more vital import have been
quietly and persistenty proceeding, de
velOpments that seem destined 10 culmi-
nate in the passing of control Of the
country's most important nonagricultural
industries into the hands Of a small, pow
erful circle. with Standard oil interests
forming the center and the steel trust
and the shelters trust radiating there
from.
A combination Of these three combina-
tons is silently, almost impercepubly,
evolving, not on parchment. but in senti-
ment and in fact The nation does not
know it, The men shaping it would deny
it, perhaps in the conviction that IN so
doing they were honoring the truth. Yet
the finger of evolution points unmistak-
ably 20 that one climax The only ques-
ton is: VIII the country be content 10
look on with idle equanimity?
The year has been an eventfuI one for
the AmaIgamated Copper Company Two
achievements stand out pre-emiueut,
namely. the settlement OF the Rogers
Heinze seven years war, and the abb
soyption Of the Greene Consolidated Cop
per Company and the Csnanea Central Cop
per Company. ostensibly by Thomas +.
Cole and John D. Ryan. but virtually by
Is Broadway. Progress has been made IN "a
hundred other direcuons-in unostenta-
dously acquiring stock in other Compa-
nies. in greatly strengthening, through
subsidiaries, its selling ramihcatious, IN
perfecting its smelling arrangements, &c.
To-day the Standard Oil interests control
approximately 81 per cent Of all copper
sold in this country, and its recent coup
in Mexico will materially add 10 this per-
centage. The largest corporations in the
country are all looking years and years
ahead TO the time when the rich ore
fields now being worked will become ex-
hausted. AMaisamated, ike the United
States Steel Corporation, IS seeking 90
eudOw its stability with bountifui stores
OF raw material. for so doing com
pany not only improves its present posi-
uon. but inspires confidence I'm its future
and increases the attractiveuess OF Its
securities in the eyes Of investors
Ambitions of Guggenheims.
1t Will now be in order 20 analyze the
part that the smelters' trust is playing
in This more than national movement for
the Capitalization Of control Of the min
ing industries Of the New World. not -
say Of the whole world-the ambitions
OF such men as II. H Rogers. Daniel
GUggeuheim. and the steel trust leaders
are not confined TO one hemisphere, as
viii gradually be uufoIded during this
twentieth century. Remarkable as has
been the ACKNOWLEDGMENT of Amalga-
has been even more extraordinary. Their
most famous exploits. though not neceS-
sarily the most noteworthy, have been
their WhoIe-s0uled invasion Of Alaska,
their entrance into the inhospitable bar
barrie interior Of Africa Che Congo Free
Statel and their notorious entrance into
and withdrawal from the Cobalt. Ontario,
silver camp. These three actions have
appealed 70 the public imagination. have
served TO spread the fame OF the family
va seven hl Rla4f-iSr anu 90 lt-ilL.l.S lt'
their alertness and cathOUCiJy Each step
was in itself important and thus deserv-
ing Of careful consideration. but in order
to realize the full significance Of all these
movements they must be- grouped with
less spectacular developments In this
way the proper perspective viii be gained.
The Guggenheims are planning % be-
come as great factors iu the gold and
copper industries as they already are In
silver and lead Early in 1906 they per
fected their control Of the lead industry
by combining the National and the United
Lead companies, to-day they have no
formidable rival in this field. Through
either actual control Of mines or owner
ship Of smelling plants. they are by far
the largest interests IN the silver indus
try Of the United States-so much so.
indeed. that when the Secretary Of the
Treasury found be could not buy silver
for the mint under 20 cents an ounce he
orally threatened TO investigate" the
American Smelling and Refining Com
pauy, the chief GuggeHheim orga Imitation
MonOpOiiztng Copper.
It is in the more important copper field
that Shelters have accomplished most
during 1906 Their eminent chief engineer.
aided by a corps Of expert assistants. has
travelled from one end OF the
country to the other. and even beyond
its borders, inspecting copper properties,
and the Guggenheims are rapidly building
up a chain OF copper mines that will one
day play a considerable part in the in
dustry. They have secured a number of
Of great potentiaIities in Ne
vada. and are TO build a big smelling
plant there. Their copper enterprises in
clude Nevada Consolidated, Cumberland
Ely. Veteran-Ely, Utah Copper, and Bos-
ton Consolidated Copper, not to mention
others of less note that have been quietly
brought within the Guggenheim sphere of
influence. Their uneCualed smelling IA
cilities enable them TO WELD ii peculiar
power, for many smelterleSs copper min
Ing companies would be gravely emDar-
raised were they to antagonize Shelters. /
Moreover, this possession of the country
chief smelling plants may mean much in
times Of adversely when the metal be-
comes hard to sell, for impecunious, de-
pendent concerns viii then be at the
mercy Of those who smelt and sell their
output The Guggenheims' hold Of the
copper industry VIII be emphasized in
lSUt, Wneu mines now IN Ile UeNelODIQeQT
stage VIII become large producers.
Exploitation of Alaska.
Daniel Guggenheim is ambitious to carve
for himself in far-off Alaska a name that
will live; he seemed pleased when asked
If his goal was to become the Cecil
Rhodes of Alaska. The full extent Of the
plans now under way for the scientific, |
systematic development of Alaska's won
derful resources would astonish the pub
lie. Roughly, they include the building
Of railroads. the establishment of fine
cities, the opening up of vast mineralized
areas. the winning Of gold by placer
methods. mining for copper-in short, the