The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-12-19
statement OF
MR.. GUGGENHEIM
Sees Nothing New or Anything
Of Policy in the Ryan-CoIe
u Proposition.
LEAD ORES UNDER CONTROL
MEETING OF COPPER PRODU-
GERS TO cURTAIL OUTPUT.
LEAD ORES UNDER CONTROL

New York. Dec 1S.-Daniel Guggen-
helm. president of the American Smelling
4 Refining company today made public
q statement in which he said:
Some years ago the specializing public
rere kept in a ferment by the cry of
wolf in connection with the sugar re-
timing stocks. due to competition between
the Havemeyers and the Arbuckles- 1t
is now the smelling company with other
large financial interests. It seems that
the people must be fed upon something
Of this kind As the American Sugar Re
filming stocks are now so largely absorbed
and put away in the boxes, the American
Smelling & Refining company common
sock is being speculated with in its stead.
T'his will continue until II IS absorbed and
rut awav i'm the boxes. unless some other
securities shall in the meantime become
more popular with the SPECTATORS
Nothing New in 1t.
There is nothing new that | can see
nv ANYTHING Of pOlicy in the so-called
Rvan-Cole development Of the copper
smelling business The group OF gentle
m-n known as the Ryan-Cole, and their
following. have been for many years in
the copper mining and smelling business.
They are great believers undoubtedly in
copper as a metal So am l. Whether or
nos thew have now formed a large COM
many for the purpose Of taking in other
interests. OF for the purpose of building
new smelters and buying new mines. Is
nothing new; nor is il anything that the
American Smelling q Refining cOmpany's
shareholders need look upon with anV
concern whatever. because the American
Smelling q Refining company has not a
single exclusive copper smelter in the
United States
One Exclusive Copper smelter.
The American Shelters Securities com
pany has only one exclusive copper smelt-
er in the United States. Neither of these
companies is likely to have in the near
future any more exclusive copper com
mission shelters. because they look upon
copper smelling as am extremely annoying
business.
AS regards the lead smelling business
o. the American Smelling e. Refining
company. fully 30 per cent of all the lead
ores Of the United States and in the re-
public OF Mexico are now controlled by
ownership OF mines and by longtime con-
tracts. These ores are either controlled by
the American Smelling & Refining COM
Isny' or by its present competitors"
Standard Oil Influence.
SPECULATION as to the controlling nflu-
elce in the new company reported as
about 10 build smelling plants in compe-
ution with the American Smelling & Re-
certain supposedly Well-informed circles
i was said with assurance that this
backing was none other than the copper
interests of the Standard Oil company.
This Is based on the theory that the new
company is a result of dissatisfaction over
charges made Cor smelling the ores of
other companies having Standard connec-
lions.
Meeting of Producers
There is no connection. it is said be-
tween the new smelling company and the
meeting of representatives of copper pro-
ducing and refining companies who dis
cussed plans for the establishment of a
statistical copper bureau to compile and
publish monthly statistics of the copper
business. Those attending denied that
there was any intention arbitrarily to
govern the price of copper. Instead. il
was stated that through the. publication
Of authoritative figures. it WIS expected
that a tendency to overproduction would
he curbed and the possible consequent de
moralization of the copper markets
avoided.
The American Copper company, which
several years ago ceased publishing
monthly reports. was represented at the
. meeting. II was said that ARRANGEMENTS
would be made with European copper pro-
ducers 20 secure thei rreturns so that the
ducers TO secure their returns so that the
available