Coeur d'Alene evening press. (Coeur d'Alene, Idaho) 1907-1929, 1908-04-17

Emelter trust on which it has been
holly dependent, the Montana Nine
lEners' association, composed of
bout 800 of the biggest mineowners
Ind operators in the state, have Sc
bred an option and immediate con-
'rol of the Idaho Smelter & Refining
|ompany, which owns the Farmland Ne
nelter, at Ponderay, Idaho. Imme-
late possession of the property will
taken and its capacity increased,
robably to 1000 tons a day, which
| i'll take care of the present produc-
on of the mines owned by the asso-
alton.
Comprising the Mineowners' asso-
alton are such men as Senator w.
Clark, largest individual mine OPP
ator in the world; w. G. Conrad,
wen Byrnes, DR.. Peter Musicbroad
i'd Thomas L. Greenough. Marcus
Hewett of Basin, Mont, Senator
ark's man, is president of the as
citation, and former Governor A. E..
briggs of Butte is chairman of the
ecutive committee. The properties
the association produce 10000
rs month Of dry silver-lead and
Id ore, besides vast quantities of
pper. The plans of the association
clude equipping the Panhandle
better for the treatment of copper,
d later a refinery may be estab-
he'd.
Conference Eight Hours.
The deal for control of the smelt-
property was consummated last
Bht after conference which lasted
int hours. In fact, there had been
host a continuous conference since
Sunday, when a meeting was
d at the smelter property. Since
Il time representatives of the asso-
ton have been in the city making
borough but quiet investigation of
property-so quiet that hardly a
'ker in the city knew that the deal
5 on.
At the conference which closed the
were M. L. Hewett of New York,
mer Governor A. e. Spriggs,
pmas l.. Greenough, Robert Bell,
B. Linderman, Senator Edward
nlan, c. c. Titus, d. S. Matthews,
B. Phillips and ]. Herbert Ander-
who owns a controlling interest
he smelling property. When the
was consummated a new board
directors was organized as fol-
5: j. Herbert Anderson, presi-
I; Marcus l.. Hewett, vice presi-
{; S. B. Phillips, secretary and
surer; A. E. Spriggs, chairman of
ctors, and w. A. Clark of Butte,
G. Conrad, Great Falls, Thomas
reenough. Missoula; Albert Wun-
ieh, st. Paul, directors. c. c..
S will be general manager of the
tier. Mr.. Titus has been with the
Hrican Smelling & Refining COM
for IA years.
Option for Five Years.
the terms of the deal an option
five years is taken on the prop
which may be taken up the first
for 81 $50, 900, and at a grad
Increase during any of the next
years until the fifth year, when
price will be $2.1O0,OO0.
nmediate voting control of SO per
of the stock in the company for
ears is secured by the associa-
which will operate the plant on
sis of Is per cent minimum net
to the stockholders on all the
reated. That is. / 5 per cent of
lost of the ore treated is to be
to the stockholders as profits.
Mineowners' association will
five of the seven directors. and
minority stockholders may name
directors. All of the townsite
'rty. mines and fiuxing fields of
IDAHO Smelling & Refining COM
pass to the control of the Nine
rs association.
Enlarge ut Once.
rk will begin at once on the
lion and enlargement of the
r. 1t has a daily capacity o.
pms. which win be increased &c
pms. and further enlargement
made as needed. About zoe
Ill be employed in the begin.
nd about twice that many will
aired to operate the plant when
aeity Is increased to 1000 tons