Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-03-05
.M:LTERS C|NCH
ON ORE PRODUCERS
Deductions Are Made ON Ore Ac-
cording to Grade and Re-
firing Cost.
COMMITTEE ABOUT THROUGH.
Speaker Harry Joseph States the Prob
ability OF Further Meetings BE.
ing Held il Stnutl

The false quotation investigation
committee held another meeting at the
Wilson hotel last evening. A number
OF gentlemen were placed on the stand
10 testify in regard to settlement prices
for copper, silver and lead. but their
testimony was all 10 the effect that
while it was evident that eliscrimina-
ton and differences existed, they did
not know what could be done to remedy
the condition.
NJ. c. MOTIFS, secretary OF the Bullion
Beck &c Champion Mining company,
SAID his company used the price given
for the previous week In the Engineer
ing & Mining Journal for settlements.
He had noticed discrepancy in the
prices given by that paper and those Of
the Associated Press.
Mr.. May, manager Of the Western
Union Telegraph company OF this city,
explained now the message came from
New York for the smelter people. not
directed and unsigned An agreement
exists whereby the company furnishes
these quotations to smelter people all
over the country. The source OF the
telegrame is the Golden Stock -ele-
sraph company Of New York. which
furnish the reports but does not guar
Mr. Darmer of the May Day mine had
the papers to show where difference
between the prices paid by the shelters
and the prices received by the produce
trs on copper in one week amounted
10 1900 OF a cent per pound which on
the entire production OF copper in the
state for one year would mean Sl5o, 900
out Of the pockets OF the producers.
THE SMELTER CINCH.
j. M. Bidwell OF the American Smelt-
ing Refining company then took the
stand He admitted there might be Il
difterence III the quotations, He pro-
duGed kilograms sent out by the West
ern Union. but on the basis Of tele-
grams received by his firm which he
admitted were undirected and UNI
signed. One of bunch he produced
did have the signature or "Deely" on
It. but he did not know who "Deely"
was. On comparing kilograms for three
different weeks. II was shown that dis
crepanctes existed varying from 2.100
of u cent TO 1900 OF a cent. Mr. Bid
well did not think the Associated Press
reports were authentic, but thought
the Engineering & Mining Journal re-
ports were,
lnony that the smelters have scinch"
on producers anyhow. Certain deduc-
tons are made In settlement which Mr..
BluWell said were agreed upon between
buyer and seller in ore. These deduc-
tons, said he, were made according 10
the grade OF ore purchased, and In
cluded charges for refining, freight. In
terest, and any other expense that
might accrue. Some ore was easier
10 handle than others, and the price
ranges accordingly. There was al
ways a 10 per cent smelling charge
made. and from y TO ~ cent per pound
for other expenses.
V. 5. Snow, acting secretary OF the
Columbus Consolidated. said he had
noted dinerences IN quotations IN cop
per, but not in lead. He could sug-
gest no remedy except punishment for
papers making false quotations
Geo w. Ritter, manager OF the Eure-
ka Hin, testified to the same effect,
discreditlng the reports appearing In
the Engineering and Mining Review.
w. j. Wilkinson, secretary OF the
Mammoth company, told OF the suit be
tween his company and the A. S. & r.
Co. for difference in price, on lead
and copper, The difference In lead
was squared by the smelter company,
but that In copper had never been SET
tied.
NOTHING DOING.
Speaker Joseph. who conducted the
examination, announced that he had
concluded his examination, as far as
prices on metals were concerned. II
any other members wished to investi-
gate regarding quotations ON other
commodities this would be done at
future meetings of the committee. But
the general sentiment seemed to be
that nothing could be accomplished by
the committee save TO show that dis
crepancies do exist In the quotations,
hence the probability of further meet