Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-09-21
BUSY TINES FOR
SMELLING men.
Daniel Guggenheim Finishes His
Vacation In Idaho and Gets
Down to Work.
coNFERs WITH OFFICIALS
Plans for Future Discnssed-Predicts
Higher Prices for Copper
In Near Future.

helm, president OF tlle tAitiet iGu'' eiftS'N
1 ing & Refining company, bnckled down
| to work again today and judging from
| the appearance of things about the
| offices OF the great smelling concern
| on the top floor of the Mccormick bank
building, everybody else WAS busy. Mr..
| Csuggenheim returned from Idaho yes-
| terday accompanied by Vice President
| Silas w. Eccles in charge Of traffic,
! and they were met here by Edgar L..
Newheuse, vice president in charge OF
| operations; Judd Stewart, general au-
! ditor; M. Robert Guggenheim, Anton
Eilers, Karl Eilers, and willard $.
Morse, members of the executive com T.
| mittee; Charles w. whitley. general
manager of the Utah division; w, n,
| Rust, manager OF the Tacoma smelling
| company and member of the western
executive 5committee; Il, B. Braden,
member Of the same committed; James
Phillips, Jr., of New York, president
! of the Nevada Consolidated Mining
company; NJ. Barber, representing the
Balaklala Copper company.
In the meeting today the smelling
officials discussed the needs of the
| various enterprises controlled by the
| Guggenheims, and discussed plans TOR
| the future.
President Guggenhelm, asked about
| the stories circulated in the east to the
| effect that tho Garfield smelter is
| failure entered q most vigorous denial
| and while there Is no doubt, he de-
| clarel that the management had had
| its share of trouble, the metallurgical
| difficulties had been entirely overcome
| and in the future there will be no diffl-
! Guilty in treating the fine concentrate
! produced from the Garfield concentrat-'
i l9t,,.J,i COZ n have YivGn
| the cause for worry for time. MT.
| Guggenhsim also settled for all time
| the report that there would be changes
made In the management OF some OF
| the western plants by stating that the
| company is satisfied with the preseslt
| partments.
TALKS ABOUT COPPER.
Regarding the copper situation, Mr..
| Guggenheim said: ts,3{s35
| I'm my opinion, the normal price OF
| copper is about IA to 16 cents and
/ there are many reasons which lead to
i my firm conviction that before a great
/ while these prices will have been
/ reached and maintained as q perma-
nent fixture.
"TJnder ordinary conditions from
about the normal amount carried by
4 manufacturers and dealers throughout
| abe world. During the panic OF last
| fall and the following months this
| amount dwindled to almost nothing and
it is only lately that these people have
begun to replenish their stocks. This
has proved an important factor in sup
| port of the market and one which must
/ of necessity continue in force for some
/ time to come.
/ I'm fact. it will take several months
1 before the dealers and manufacturers
H. ,,,lI ny.f
to bring their stocks up to the normal.
| and long before that Is accomplished
the general prosperity of the country
/ will be such as to take care of the
| price unsupported and to take care of
1t after stocks reach normally. After
| that copper for current use VIII still
be dealt in large amounts and this
I current use will mean an active copper
market right along"
HOW COPPER POOLS. WORK.
/ Speaking of copper pools and the in
i variable failure Of these ME-. Guggen-
! helm said. THE reason is easily seen.
| About 100000 tons of the metal Is
| about as much as any SPECTATOR or
1 group of SPECTATORS is able, TO carry.
| After that amounts;h has been ACQUIRED
the banks do not, as rule, care to
another bunch of copper is placed on
the market, the pool is unable to sup
| port the market 1t has created and the
price goes down with bump.
4 I'm this manner III the past copper
has been pushed to valuation of 20
/ cents and in some cases more. a purely
/ inflated profit. The first few who do
this get their money at the current
/ rate OF the metal, but il the selling
continues, as it generally does, II is
only a question of time when the
capital Of the pool Is exhausted and
| l. ~ Was re.
cents, however. is not too high fol
copper, and / look to see the market
reach that point and remain there,
Mr.. Guggenheim wishes it understood
that it is the companS's plan to take
care of all the ores offered at the Gar
field plant. AS the tonnages increase
the plant will be enlarged and new
equipment added, and although no low
erinE of rates for smelling is being
considered. fair and prompt treatment
will be accorded the mine owners in the
matter of the smelling of their ores,
Asked as to the recent difficulties
experienced in the plant in the hand
ling of certain kinds of ores, Mr.. Gug-
senheim said: "It Is a fact that we
have had some trouble in the past with
| many of the liner grades OF ores. we
have had some difficult metallurgical
A problems to solve In connection with
these but we have succeeded in solving
them and the trouble period Is now be-
hind us.
LARGEST in WORLD.
"Our Garfield smelter is now the larg-
FL est custom smelter in tho world and al
this time we are handling about TO-
900 tons of ore a month. The manage
mept has been ordered to requistioI
freely for everything necessary to in
crease the capacity of the plant from
time to time az the business requires It
and new furnaces and conVerters Wi
be added just as rapidly as the ton,
| mage justifies 1t. We want to give th'
T, mine owner q square deal and we wan
|, to handle his ores promptly and no ex
pense will be spared to enable us tt
J do this. The Steptoe plant is now turn
!, Ing out about $500 tons of copper {
!, month and the capacity of this plant !:
being Increased steadily to take care o
the tremendous output of the mines
Mr.. Guggenheim says that the build
ing of the railroad in Alaska into tbs
heart of the copper district is pro
s crossing satisfactorily. and has ever,
confidence that Alaska will not onl!
become a great copper producing dis
trict. but that as an agricultural dis
trict 1t also gives great promise. TIT
railroad referred to is now under con
struetion by the Guggenheim interest,
~, " s IA ifzi ,a{}1zezE.s