Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-05-25
MINING, BUSINESS AND STOCKS.
COPPER FORCES READY
FOR GREAT STRUGGLE
Contest for Control OF Copper Situa-
ton TO he Wngcd by Cole-liyan
And Guegenheims.

That contest OF gigantic proper
tons Is Impending between the Amalga-
mated and Cole Ryan Interests on the
one side and the Guggenheims ard tho
various Interests associated with them
on the other. is the belief of those who
have been watching the drift of affairs
in the mining world closely In recent
months. 10 viii Dee fight for supremacy
between the two old time rivals pa the
smelling and mining fields.
The two big interests have been mar
shaling their forces and mancuVcring
for strategic positions for many months
and that the contest has not been begun
before this time is due IL is under
stood. 20 the fact that the big financial
interests that frequently are called
upon To supply funds FOR the extensive
mining projects oi the two crowds in
VOWED are counseling them 90 refrain
from open hostiltics az this particular
time when the markets are in nerv-
Gus and unsettled condition
Relative 10 the situation the New
York Commercial has the following 20
say.
When the International smelling &
Refining company was formed iu the
last days OF December, 1905, 10 was
predicted that &c would become for
midable rival OF the American smelt-
ing q Refining company. There were,
however. many who believed that the
new company would simply round up
some OF the Independent properties and
finally be absorbed by the American,
giving that concern a grip stronger
than ever on the mining and smelling
Industry The International has demon
strated that 70 was not created 20 be
ultimately a part Of the American COM
pany and there are unmistakablc evil
namRnn HftH
interests allied with IL viii make a
desperate fight for a large share OF the
smelling and mining business.
FACTIONS LINING Up.
In Ely Bingham. the "porphyry'
camps Of Arizona and elsewhere these
two forces are lining up to contest for
supremacy IN the copper branch OF the
mining industry Not only ths-the
Cole-Eyan interests are also quietly
seeking control of lcad-silver proper
ties with view to becoming "a formid-
able rival OF the Guggcnheims I'm this
held and the Guggenheims, cognizant
Of their rivals aggressive moves in this
direction, are taking steps to strength
on their position I'm the lead-silvcr
fields
Horace j. Stevens. editor Of the Cop
per Handbook. came down from
Houghton, Mich. n short time ago and
ne was not long in finding out the in
side story of the situation, II he was
not fully aware Of II before leaving
Michigan. lie had this TO say about
tho copper situation;
From what I observed I'm New York
there Is evidently a row on. and "A good
one. between the Amalgamated inter
ests on the one side and the Guggen-
helms and their low grade prOphyry
interests on the other The rumor Is
that each interest Is short Of the 9TH
ers goods
1T Is plain TO be seen that the com
mission houses are not carrying more
than 10 per cent OF thcir normal supply
Of Amalgamated and the same situation
holds true in Boston. and perhaps 10 an
even greater extent. The man who sells
Amalgamated short is playing with
fire.
MUST REVISE COST
@There is unquestionably a great fu-
ture ahead Of many Of the new porphy-
~ copper properties. but / rather in
cline 20 the belief that their claims as
to costs will have 20 be revised some
what when these mines are fairly un-
der way The first years costs will
offer no criterion Of what the later cost
win be when the time comes 20 charge
into the operating account machinery
renewals. requirements. and the thou
EHnd ana ono NitNlH WHICH III Tue az
gregate make quite an impress on the
cost sheet.
III any of the low-grade mines think.
however, that they are going TO put the
Butte camp out Of business they are
hugging a delusion. The Amalgama ted
mines are liberal with their deprecla-
ton charges and can show a 9-cent
cost. As a matter OF fact, they could
for a few years show a scent cost II
they wished 10 resort TO the treatment
Of only the high grade ores This. Of
course. would be the height Of folly,
hut Il simply shows what could be
done were such an extreme policy for
any reason desirable
1T looks as though we were 20 have
n surplus Of copper output for "a time,
and the outlook u not rosy. The man
who paddles close 20 the shore viii be
the wise one I refer, Of course. 70 the
man who speculates in copper stocks"