The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-03
AMERICANS To
TAKE CONTROL
Of GUATEMALA
Former Senator Clark and
Ex-Lieut- Gov. spriggs
Almost Own Little
Republic.
PRESIDENT SIGNS
THE CONCESSIONS
Payment of 10 Per Cent of
Net Profits All That is
Required; Scope of the
Rights Enormous.
PRESIDENT SIGNS
THE CONCESSIONS
Special to The Tribune.

Special to The Tribune.
NEW YORK, June III. A. Sarecky,
secretary Of eX-Lieuterant Governor A.
E. Spriggs OF Montana. long business
associate Of former United States Sena-
tor W. A. Clark, received a cablegraIn
today from eS-Lieutenant Governor
Spriggs. who is now in Guatemala City,
announcing the great mining and public
service concessions granted by President
Cabrera to the Guatemala Mining and
Development company, of which Mr.
spriggs is president.
This means. Mr.. Sarecky declared that
group of American and French bank
ers and mining operators had got pos
session of practically all .he mineral
wealth and franchise rights OF the repub-
lie OF Guatemala TO develop as long as
aney continued on nsS to he profitable The
syndicate shall pay the government only
10 per cent OF the net profits.
While Mr. Sarecky Will not admit that
ex-senator Clark is financially interested
Spriggs declare that Mr. Clark has made
thorough and Independent examination OF
the mineral resources of Guatemala and
has. offered to advance all the money
Spriggs, needed in the development of the
concessions.
Others close 10 the syndicate go fur
power behind the whole Company. Mr..
Sarecky says that every share OF the
stock In the company had been taken up.
and neither love nor money could buy any
shares, as none will be put on the market.
The company is required by the agree
menf to begin work in the republic with
the national assembly. and in three years
must have taken up all the lands it sees
ht to do. After that time such other
claims as are not taken up and therefore
"A fH
may be applied for by other operators.
Mr., Sarecky is authority for the state
ment that Cabrera and the national as
sembly have practically turned the ent!ro
republic over to the American company.
Representatives OF the company, who
have Offices al. rs Broadway. including
about the extraordinary scope of the
commission obtained from Cabrera for
fear it might alarm the people of Guate-
mala or raise outside opposition.
Our charter is as broad as IL possibly
can be- admitted Sarecky.
Under 1t we have the right to operate
right to buy and sell and manufacture
all kinds of mining machinery, To erect
and operate electric light and power
plants. and TO sell TO municipalities cleo
trio light and power; the right also 10
construct roads. wharves, tunnels, ships.
telegraph and telephone lines. and sell
such service to the public; TO deal In all
kinds OF timber. to cultivate and sell
fruits and all kinds Of farm products. TO
conduct banks, and even TO publish news
papers. and magazines anywhere in tho
republic
When asked what would happen when
the people of Guatemala awakened TO
what had been conceded away, Mr..
Sprisgs is said to have remarked
well. the United States will protect
our property
Spriggs explained the unusual scope OF
the concession by saying that his syndi-
cate was prepared To make very liberal
terms with the government of the re-
public.