The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-07-23

Thomas d. Jones. president of the
Mineral Point Zinc company, sub
sdiary of the New Jersey, and a di-
rector in the International Harvester
company, whom the president APP
pointed to the federal reserve board
and whose nomination has been held
up in the senate committee on bank
ing and currency, appeared before
that committee on July 6, to answer
it's questions and explain that he IS
not malefactor, nor Of the class
whose name is anathema. Instead of
trying to excuse himself and trim his
sails according to the popular wind,
Mr.. Jones said flatly that he approved
of all the acts and practices of the In
ternational Harvester company since
1909; that he believed those acts we've
proper and legal and that the COM
pany had not offended against the an
ti-trust laws. He said, moreover that
he was fully in accord with the policy
of the company at the present time.
Mr.. Jones also told the committee of
his closer affiliations and more i'm
portant financial interests in the New
Jersey Zinc company, the so-called
zinc trust. Mr.. Jones said that the
New Jersey Zinc company produced
about 20 per cent of the spelter, S5
per cent of the zinc oxide, and 3 per
cent of the sulphuric acid that is made
in the United States. Quoting from
the New York Sun:
Mr. Jones almost startled the
democratic members when he said
that the New Jersey Zinc company,
of which he is a director, returned
dividends last year of so per cent on
its $10000000 capitalization, and that
it paid 40 per cent the year before.
Members of the committee said
afterward that the Chicago man had
made favorable impression because
of his courage and independence, but
they were fearful that the senate
would not be able to approve as a
member of the federal reserve board
a man who defended the International
Harvester company, and admitted his
identity with great Industrial cor
poration that is returning so per cent
in dividends on it's consolidated prop
critics."
Here we have an exhibition Of the
modern tenet that no man, or no cor
poration may longer participate In
the government of this land, and per-
haps may not even enjoy the protec-
ton of its laws. if he be in receipt o
a very large income, no matter If tina
income be earned in an absolutel,
honest way. Last year it was tn
Agassiz and Shaws and the Calumet &
Hecla Mining company VINO were IN
targets of abuse Now it is Thoma
d. Jones and the New Jersey Yin
company. If the discoveries Of tn
Great Bonanza Of the 1Comstock Wer
alive today it might next be they.
The New Jersey Zinc compan.
came into being about Is years ag'
as the owner of a marvellous deposi
Of zinc and manganese ore In north
ern New Jersey No other deposit o
the same kind of ore has been know
anywhere else in the world. The New
Jersey Zinc company did not acquire
it's title by the location of government
land. The state Of New Jersey wa
one Of the original Is colonies and 1t
surface had been divided according t.
the British and colonial law. Thu
owner of the surface owned wha
mineral he might discover within hi
boundaries. The celebrated occur
renee of zinc ore at Franklin Furnac
was noticed and prospected as earl,
as 1910. The first mining was done
in liza. 1t was many years, however
before any serious mining could b.
done, for the reason that the way t.
it became known this unique kind o
ore was found to be very difficult t
smelt. But in 1851, Samuel Wetherll
invented a way Of making zinc OXid
ulTeCuy lHC OIV, anu ei's' W."
the beginning of the utilization OF tn
ore, though for nearly so years tina
utilization was carried on in a rela
lively small way. The surface of tn
mine was divided among several in
terests. there was confusion Of titles
resulting from antiquities of earl.
deeds, and the most protracted minin
litigation in the history OF the Unite'
States had been running half cen
fury. There had been many failure
, of operating companies. The tire
that were in existence in the '9Os wer
only moderately successful. The or
} body. as whole, was not then com
mercally workable; certain parts o
it only could be skimmvo and usec.
About this time, John Price Weth
GRILL invented means for separatin
the run of mine ore into its constit
uents, which individually could b
treated at great profit for the produc
ton of spelter, zinc oxide and spiegel
esen. August Heckscher quickly per
! cejved the importance of the new In
7 x.an+;op and recopniZine the vase