Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-02-10
MONTANA MEN NOW
CONTROL SHELTER
Secure Voting Control and Option
For Purchase Of Major
ity Of Stock.
OPTION RUNS FIFTEEN YEARS.
Montana Mining Association 20 Take
over Interests In idaho Smclt-
ing and refining Plant.

Nearly 100 members % the Montana
Mining association at meeting held
at Helena. Mont, last week. adopted
a resolution calling upon an the mem
bers 70 send the ores o. the Montana
mines to the smelter at standpoint
IL also developed at the meeting that
the 81 per cent Of the stock in the
smclter at Ponderay. Ida. now In es-
crow. can be taken up by the associa-
ton any time within 10 years. The as
ISOLATION now has the voting control Of
the stock ia the smelter Thomas L.
Greenough has been elected president
Of the association: Z. A. spnggs. chair
man OF the special committee.
The following extracts from the re-
port OF secy T.. b. Linderman tell Of
the condition OF the Montana mining
business IN relation % the shelters
owned by the so-called trusts.
CONTRACT WITH SHELTER.
I'VE find upon investigation. that
your executive committee In April. 1908.
entered into a contract with the Idaho
Smelling a. Refining company, where
by they acquired a voting control OF
the stock Of this corporation. the con-
troll OF which by this contract has
passed 90 them.
FIFTY -one per cent OF the stock of
this corporation has been placed In es-
crow az a reasonable price, which can
be taken up by the Montana Mining
association any time within 10 years.
The smelling plant OF the Idaho Smelt-
ing q Refining company was taken
over az once
"The plant was overhauled and many
improvements made looking To an In
this was done without cost TO this as
aociation Ample means have been
provided. in accordance with the terms
OF this contract by the Idaho Smelt-
ing & Refining company 10 make
prompt settlement upon all ores ship
ped 20 them for treatment
on October 90. 1908. the smelter was
blown no. Long before this and short
Is after the conclusion Of the contract
between the smelling company and the
Montana Mining association. In antict-
patton Of this action, the American
Smelling & Refining company reduced
It's rates on the smelling Of ores about
80 per cent.
COMMEND ACTION OF COMMIT
TEE.
"YVe commend and endorse the action
OF our executive committee I'm making
this contract with the Idaho Smelling
a. Refining company, and we cOngratu-
late them and the members Of the
Montana Mining association upon the
great reduction in smelling rates that
this action Of our executive committee
has brought about
we urge upon the members OF this
I association and Independent operators
generally throughout the district trib-
utary 10 it, that the future OF this
smelter. now under the control Of this
association Is absolutely dependent
upon the patronage given Ii and that
81 can only be maintained in its activi-
| ties 10y the shipment and consignment
OF ore IN quantities adequate 20 keep it
running at its capacity
HISTORY OF THE AGREEMENT.
J. Herbert Anderson, president also
owner Of the control OF the stock OF
! the Idaho Smelling & Refining COM
pauv. which owned the Ponderay
/ smelling plant submitted a proposition
/ 90 your committee which was taken
under advisement. Mr.. Titus and Ds-
| vid Mathews OF Butte. an experienced
sncltetman from the stan OF Senator
Clark were sent to make a thorough
] detailed examination OF the physical
| conditions existing az the plant a
/ special committee was also detailed
| from the members of Us committee to-
! examine into the business aud financial
! affairs of the Idaho Smelling a Refn-
! ing company
These Investigations resulted iu an
/ arrangement being made on the 18th
I day OF April whereby your association
/ assumed control of the company and
/ The plant
/ ''rhe arrangement with Mr.. Auder-
/ son and the Idaho Smelling a. Refining
/ company was entered Into only after
! the most thorough Investigation and
] upon the advice Of competent engi-
ncers smeltermon, business men, at
] torneys and also many members Of
| this association. Tho agreement. n it
! might Dee So termed, consisted OF con-
/ ditions which were imposed on the
/ other party whereby. I'M cousidera-
1 ton OF ST. the voting control OF the
[ stock Of the Idaho Smelling e. Rein
] Ing company was vested ln the Mon
| taua Mining association. through its
| executive committee. for "a period Of
! % years, also purchase option on
! the control Of the stock for "a period
] OF I'VE years. also the naming of five
/ members Of the board OF directors out
| of "a total of seven members. and the
| selection of manager for the COM
! pauy
! ROYALTY FOR USE OF THE PLANT
| "Tho only condition imposed on tfe
! association Was chat the ores sWelted
! lu the plant under the direction OF
/ tue association. should not boz treated
/ for less than 10 pcr cent over the ace
| tual cost of treatment. which FOR DE-