The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-06-17
mo SETTLEMENT IN SIGHT BETWEEN
HERCULES SAND SMELLING COMPANY
REPORT BUY THE MlNE-MlN
CONFRONTED WITH DIFFICULT slTuA.
ToN-sMgLrER SEEMS TO HAVE ADVANTAGE

Almost three weeks have now passed
since the Hercules mine and mill clos
ed down, and so far as the public is
= concerned no more Is known now Of
= the issues involved in the controversy
r between the mining company and the
American Mining & Smelling company
than was known on the day OF the
suspension, Under these Circumstance
es the field for speculation Is unlimit-
ed and naturally enough every man
Is exercising his inalienable right 10
advance his opinion and forecast the
final outcome of the struggle to name
the terms upon which the richest lead
mine in the world may resume opera
tlons. Each day, therefore, finds n
new solution to the difficulty, or some
new theory advanced to explain the
underlying causes of the prolonged
shutdown. One of these which went
the rounds a few days ago was thar
the real trouble was between Eugene
and Harry Day rather than between
the management of the Hercules and
the smelling company. This report
had 1t that Eugene Il. Day, who is gem
eral manager of the Hercules COM
pany insisted upon a renewal of the
old contract on substantially the same
terms, while Harry l.. Day was dis
posed to make concessions to the
smelling company conditioned upon his
holding his position as president and
general manager of the Federal COM
lpany. which Is controlled by the smelt-
ling interests.
Smelling Company to Buy Hercules.
This was followed by the report that
Irapidly spread throughout the district
last Monday that the Federal or Gug-
genheims were negotiating for the
purchase of the Hercules, and neces-
Isarily deal of that magnitude would
lconsume considerable time during
which the mine would remain Inactive.
1t was soon learned that this report
had for its basis the sudden and un-
Explained advance Of Federal common
from $3.50 to 53.25 and Federal pre-
Iferred from $39.5O to $61 on the New
York exchange. The acquisition Of
the Hercules would inevitably bring
Iabout such result, and in the absence
Iof any other explanation, there was a
disposition to accept the report as true,
land 1t may be, for the Federal is sadly
in need of mines and every mine has
its price. But those who are in po-
stion to speak for the Hercules ana
Federal remain silent, wholly indif-
ferent to the desires of the people for
information and thus forcing the pub
lie to continue the repudiated policy
of watchful waiting.
| Hercules Not for Sale.
But even If the local representatives
Of the Hercules are not disposed to
enlighten the people on latest phase
of the controversy with the smelling
trust, their reticence is not shared by
at least one of the owners of the big
mine. Mrs. May Arkwright Hutton,
who perhaps gets more real enjoyment
out Of her prlncely income from the
Hercules than any of her associates,
and who delights to take the public
into her confidence, when asked for
information regarding the reported
sale of the mine to the Federal had
this to say:
1--WE have not sold the Hercules, and
lit is not for sale" said Mrs Hutton.
when the Hercules gets Just as good
a contract with the smelling company
as it has been holding up to June I,
then the mine will start up, and no
sooner. We can afford to close tho
order to secure the desired smelling
rate"
What Will Be the Outcome?
Anything that results in throwing
Ia large number of men out of employ
ment Is matter of serious concern to
the public. and therefore hope is gem
eral that n solution Of the difficulty will
soon be reached which will restore
great property to normal operations
There is one thing, however. that
seems certain, and that is that the
Hercules can hardly hope for another
contract as favorable as the one Just
expired If so, then the smelling COM
pany would have to revise the Bunker
Hill contract on the same terms, also
the Stewart and possibly others. The
date the Hercules contract expired
the day before the date for revision of
the Bunker Hill contract suggests that
there was method in fixing that date
for its expiration. Another significant
fact Is that almost simultaneous with
the expiration of the contract the price
of lead, which is controlled by the
smelter, began to move upward until
1t has now established a new high re-
cord. Possibly 1t was figured that the
Hercules would make concessions In
its new contract rather than be de-
CONTINUED on last page)