Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-03-10
TELLS ABOUT COLORADO TRIP
Had Nothing to Give Out Regard.
ing Negotiations for the
Boston Consolidated.
Busy Hearing Reports Of John Hays
Hammond and Other Engineers
This Afternoon.

Attached to the regular Rio Grande
No, 3, which arrived In the city shortly
after noon today was the private ear
Rlva, containing Daniel Guggenheln,
president OF the American Smelling g.
Refining company, and party, which
consisted of S. II. Guggenheim, Isaac
Untermeyer and w. Il. Bennett, the
latter private secretary to General
Traffic Manager slas W. Eccles, who
preceded the distinguished visitors
from Colorado by several days.
The party was met at the depot by
Charles w whitley manager of the
local plants Of the American Smelling
& Refining and kindred companies;
oonveyanees were IN waiting to take
the party to the Knutstord, where they
are comfortably located
HAD A PLEASANT TRIP.
1--WE have had a very pleasant trip
across the country" said Mr.. Guggon-
hem to representatives OF the press
shortly after his arrival, who awaited
him az the hotel. THE journey through
Colorado was particularly interesting,
and the American Smelling & Refining
company Is getting ready TO spend sew
eral millions Of dollars in the better-
ment OF the plants at Denver, Pueblo,
Durango and Leadyille. New methods
of treatment are to be installed at these
plants, which will so cheaper the cost
of treatment that ores practically Of no
value now Will yield a proft. Besides
this we propose to build a zinc smelter
In Colorado; the location of the plant
has not been fully determined, but it
will be either at Pueblo or Leadyille.
These improvements were decided on
at meeting of the executive commit
tee IN Denver"
There has been a great deal said In
eastern as well as western papers, Mr..
Guggenhelm, about the absorption Of
many Of the principal mines Of the
country by the interests represented by
yourself and the formation Of a great
holding company for them"
II know there has BEEN replied the
great smelling magnate. but | can say
TO you that there has been a whole lot
of hot air about these reports, While
II Is true we have been and are now me-
gotiatlng for some mines, I don't know
that there Will be such combination
as people have been led to believe"
WILL KNOW NEXT WEEK.
How about the negotiations pending
for the taking over OF the Boston Con-
solidated and other Bingham proper
tles7" was asked.
We'll | can tell you more about Bos-
ton Consolidated next week. In fact
do now know very much about these
Utah enterprises Just now; have come
out here to ind out things and untll
hear the reports of my engineers, there
is really nothing that can say about
our undertakings here any more than
10 state that we propose to do for the
mine owners of Utah what we are doing
for those of Colorado In the way OF pro-
viding facilities for the treatment Of
ores on a basis that Will enable the OPP
ening OF mines that contain vast bodies
of low grade ores.
A GREAT sMELTING CENTER.
The construction of the Garfield
smelter / am informed Is going ahead
rar lily and Will be In commission. at
lea n portion OF II at an early date.
Yes, the development Of the mines in
this and adjoining states Is going for
ward at such n rapid pace that there
Is no reason why Salt Lake should not
become as important as any other
place in the country as a smelling
center"
OWNS BALAKLALLA STOCK.
Relative to the statement made in
one of the Denver papers several days
ago TO the effect that the American
Smelling 4 Refining company had
purchased control of the Balaklalla
copper mine In Shasta county. Cali
fornia, Mr., Guggenheim, while not
willing to admit that a control had
passed. stated that It was fact that
the American SHELTERS Securities
company had purchased a very large
block Of the stock Yet the tone of mis-
conversation indicated that II the con-
troll Is not already In the hands OF the
latter corporation, It is mighty close to
1t. The same was said Of Nevada Con-
solidated. Engineers have recently
visited this property and are now as
sembled In this city with their reports
ready for submission 20 MIR. Guggen-
helm.
DECLINE IN SILVER.
How do you account for the recent
decline In the price OF silver was
asked OF Mr.. Guggenhem.
We'll, 1t Is simply this. China and
Mexico are selling and India is not
buying. Mr.. Guggenheim also critl-
cised the action of Secy. Of the Treas
ury Leslie NJ Shaw IN using the gov
ernments stock OF silver bullion for
making subsidiary coins. He declared
that the secretary should have gone
into the open market and purchased
silver. Had this been done. silver
would have advanced to 75 or so cents
per ounce, instead OF declining as II
has today.
Mexico, you remember, sold siO.-
% .ssIas
ago, and | am confident that II the
United States had bought silver when
It needed II the Mexican government
would not have sold that amount The
result of the whole matter has been
that foreign states have come 70 the
conclusion that IL Is not a good thing
TO buy silver.
IL Mr. Shaw had coined all the silver
bullion into silver dollars at the rate Of
sl,500,VOO a month, as the law required,
silver would have risen IN value. The
foreign governments are melting down
their large silver coins and they are
converting them into subsidiary coin,
when they would, in all probability
have been In the market for new sill
yer. l believe that the secretary OF
the treasury should be Censured for
thus eyading the law. He is continu-
ally insisting on not buying silver and
he is trying To have law passed that
will prohibit It's buying | think that
the matter should be called TO the at
tention OF the senators and representa-
tives OF the western states, and that
they be informed Of the precise sltua-
ton. | think, too, that the western
people generally should take up this
agitation 10 have the government buy
silver when II needs IL. and TO pro-
hibit the secretary Of the treasury from