The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-10-15
UTAH CON, PLANS
CONQUERED IN
George L. Walker JAStifles
Move Made by Pres. BrOugh-
ton and Directors.

Always an open and consistent cham
pion of the merits of Utah Consolidated,
George L. Walker, in Saturdays Boston
Commercial, shows that the management
of that company has been doing the right
thing in securing ground and making
preparations to build smelter in Tooele
county. just over the divide from its mines
in Bingham. Since his story was printed
advices from the east have indicated that
the smelter trust crowd has been success
full in influencing stockholders to combat
the scheme. This state of affairs is only
indicated, the real evidence that such is
the case has not come through as yet
Walkers comment on the subject is as
follows:
Utah Consolidated. declined to ss9. 30
this week as the result of selling started
by an article published in a. Boston finan-
cial publication. which l have every
reason to believe was both misleading and
untrue. The article contains statements
for instance. that the action of President
Broughton, in exercising land options for
smelling plant, was not concurred in by
all of his associates; and further on that
at hastily called meeting of the direc-
tors, at which all were not present, it
was decided to execute the land options
and build the smelter.
of course it is not expected that ali
of the stockholders of any company would
be in perfect accord on a matter of as
mucn Importance as that of building
new smelter; nor is it reasonable to be-
lieve that all the directors of any corpo-
ration would likely be present at a meet
ing held at this time of the year 1t
should be sufficient that q majority of the
directors reached the decision, If any such
decision really has been reached: and
President Broughton, under whose man
agement Utah Consolidated has distrib-
uted millions of dollars in dividends.
should certainly be trusted to direct its
affairs at this time, especially when his
plans have the approval of those of the
hra r.1 of Iir. win ar vail hi 70,
attend meetings
= have reason to believe that the gen
tlemen referred to in the article as haV-
ing sold Titan Consolidated are still very
large holders. and | do not believe that
they have been sellers at any time dur
ing the past year. 1 know that the plans
for the erection of . new smelling plant
have received the most careful and pains
taking attention from both a business and
metallurSicai standpoint, and that the ac
ton of the management is neither hasty
nor ill-adViSed. II is most interesting
fact that the same people who are criti-
cising the Utah Consolidated manage
ment's action now. condemned it year
ago Cor making a custom smelling con-
tract, and declared the company had lost
its ore body through fault. The news
paper referred 70 is usually correct Oh
Utah Consolidated when it records divi-
dends declared, but az no other time.
For two years past the Utah COnsOli-
dated'S engagement has been pushing de-
velopment work lateralIy and at depth
in the mine, ana prospecting extensively
underground with diamond drill Stock
holders may rest assured that unless there
is more than twice a four years ore sup
ply in the mine the company will not
spend S3.000.090 on a new Smeter. | wish
TO 80 on record as predicting that the
smelter land and all. viii cost less than
s. ESQ OG0. and. that before il is finished
Utah Consolidated will have secured some
of the most profitable custom smelling
contracts in the Salt Lake district"