The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-10-24
BIG DEAL WAS ALMOST
MADE BY A MINISTER
But He Suddenly Ended Nego.
tiations, Fearing That His
Action Would Cause Loss of
His Portfolio.
(American News Service)

OF the American Sulphur Trust to cor
ner the worlds supply of that mineral,
SO important in the manufacture of
paper and paper pulp, has been tenn
porarily thwarted by the sudden and
unexpected %backdown of the Italian
government from the position it had
recently aiken in attempting to force
the sale of the Sicilian mines produc-
ton to the Union Sulphur company
of New York, a strong Standard Oil in
terest.
The ministry of industry. commerce
and labor had prepared a royal de-
cree amending the law which governs
the output n it's commercial manip-
u%lation, SC as to conclude the sale.
But, as a result it is understood of ad-
dives from the United States, the de-
cree has been withheld from presen-
tation to King Victor Emmanuel for
signature, the minister fearing the
loss of his portfolio upon the recon-
vening of the Italian Parliament in
November.
A powerful political clique has been
hard at work for Il considerable length
of time seeking to compel the dispo-
sition to the Union Sulphur company
of which Herman Frasch, of New
York city. is president. of the entire
output of the mines of Sicily for the
next ten years, as we'll as a vast stock
OF the mineral already mined and
now in the custody of the Bank Of
Sicily and the Casa Vittorio Emman-
uele Ill, of Catania.
BY a vote of $50 to 2 the sulphur
miners and producers, forming the
Sicilian Sulphur Consortium-a syndi-
cate founded and conducted under the
! immediate supervision of the govern
ment and regulated by act of the
chamber Of deputies-lately rejected
the proposal of the American trust
to take over the stock at a price ap-
proximately ninety million dollars.
The members of the Consortium. be-
coming suspicious when they learned
the identity of the would-be buyer,
have sought by every possible means
to prevent the surrender of their pro
duct to the American corporation.
But he last word in the matter is
with the government, and it was ex-
NV tio ~ poilSlSdl, uiD!OIldtlC
and other pressure, brought to bear
upon he ministry named, would re-
suit in the royal decree.
In this event, parliamentary action
at the forthcoming session would UNI
doubtedly have taken the form of a
vote of censure, by which a minister
lal crisis would have ensued and the
cabinet official would have forfeited
his portfolio. BY that time. however.
the damage would have been done
and the Sicilian supply would be for
some time to come. at least, in the
hands of the Standard Oil subsidiary.
The output of the Sicilian mines for
the ensuing ten years is estimated at
the rate of 40. 900 tons annually,
which is Just about sufficient for the
average yearly requirements of the
world, and the quantity now in store
aggregates half a million tons. Six.
teen dollars per ton was offered by
the Union Sulphur company for this
stock, originally, but upon the rejec.
ton of he proposition by constituents
of the Consortium the figure was ad.
vanced by the French concern by &C
cents per ton, or a total of 81. 500. 900.
But the miners have remained OBJ
durate in their refusal to sell. believ'
ing that by independent operation in
the American and foreign markets
they may ultimately derive far great,
!, er profits.
At an early stage in the negotia.
lions the minister of foreign affairs OF
Italy, Hon. Francesco-Ortu, adopted
the unusual expedient of cabling di
rect to Mr.. Frasch, at the latter's of
: flee, No. 50 Beaver street, New York
!. city, demanding to know the exact
state of the mines and properties own
ed and controlled by the Union Sur
phur company, in Louisiana and he is
understood to have received the as
founding response that a capacity Of
40. 600. 900 ton is still to be depended
upon from Louisiana.
This amount would be sufficient fol
the worlds needs for siNty-five years
: and for American wants in sulphur
for more than $50 years. A present
mined stock of 400, 900 tons is claimed
by the Union Sulphur company, but
secret agents of the Consortium, who
nave uSGu IuSSStiSitliS III anu dpCu'
$ the properties at Sulphur. La, declare
that a supply of but loo, 900 tons i:
available above ground. while they
= contend that the mining of sulphur In
Louisiana is becoming more and more
difficult and expensive, owing to the
increasing depths to which it is neces
Isary to bore for the product
Figures advanced by these emissar
). les of the Sicilian Consortium to show
l the correctness of this assertion. indi
5 cate that in 1906. when the Unior
Sulphur company, which is capitaliz
ed at $500, 900. first took over the
!: properties from the American Sulphur
:" Mining company, a $780, 900 concern
the product was obtained at an ave