The Cordova daily times., 1918-01-26


 the Guggenheims.
 Meyer Guggenheim one day opened his heart and his purse to aid a friend who was wrestling heroically with a little mining property in Colorado which was threatening to ruin him. That act of kindness over forty years ago was the basis of the Guggenheims extraordinary achievements in the smelling and mining business.
 From control of one tiny shelter in far-off Pueblo, Colorado, the fam ous Guggenheim family, by industry, 1 tenacity and sacrifice, have built up | the greatest mining and smelling en- terprise the world has ever known. Today the Guggenheims handle and control 1,OOO,OOO,OOO pounds-5OO, ,OOO tOns-of copper annually, or almost half the entire production of the world l (2,500,000,00 pounds). They and their associates control the three largest copper mines in the world, the Chile Copper, the Utah Copper and the Ken necott Copper properties.
 Two of the Guggenheim companies alone-the American Smelling and Refining company and the American Shelters Securities company-do a business of over $300,O0O,00O a year. this exclusive of their mining activi- ties. The Guggenheims, too, are the most powerful factors in the silver in dustry in the world, and are very large factors in gold, lead, zinc and a var iety of by-products.
 As employers of labor they rank among the largest in the world. They were the first employers, so far as known, to pay several employees, in salary and percentage of results, com pensation running into hundreds of l thousands a year-rumOr said one man drew upwards of a million a year.
 The man mainly responsible for the 1 phenomenal success of the Guggen- helm organization is Daniel Guggen- helm, whose judgment, whose faith in the future, whose ability to inspire men, whose capacity for hard work, i first under the most trying physical conditions in remote, unciyilized min l ing camps, and, later, in the financial arena, have won for him a high place among the developers of America.
 Many sides of Daniel Guggenheim are more or less familiar to the pub lic-his philanthropies, his long rec. ord of welfare work among employees, his practical encouragement of American painters, his furtherance of musical culture, his love of literature, his interest in thoroughbred horses, his fOndness for flowers and his extraOr- dinary knowledge of different races and countries begotten of travel in al most every part of the globe.
 But to this list l can make one ad- dition MT. Guggenheim is no mean 1 philosopher
 It took all my ingenuity, born of rather extensive experience in the art of interviewing, to draw Mir. Gug- l genheim into revealing this phase of his character. He did not "open up" until l had suggested that a great many people had the idea that men like himself had not really won their | spurs and their wealth by any unus- ual effort but had simply been lucky"
 Yes" said MT. Guggenheim, men not always young men, either sometimes come in here and looking around my office, say: I envy your 1 luxurious office and your Opportuni- ties to enjoy the best in life I tell them, Tt has taken me 40 years to earn my luxurious office with it's beautiful pictures, fresh flowers and leather-cushioned furniture. Year after year l put up with tremendous hard ships, travelling in Mexico, in other foreign countries and in remote parts of the United States.
 "'You prefer the luxuries and re- finements of the city, with it's auto mobiles, it's splendidly appointed homes. You do not care to make the sacrifices necessary to attain the sue cess which can make the luxuries possible
 What are some of the things neces- sary to achieve success?" I asked.
 Sacrifice, sacrifice, sacrificed" MT Guggenheim repeated with impressive earnestness and ardor, his mind dwell ing upon what ne himself underwent.
 "Then, above all, you must have tenacity," he went on That is the greatest quality Without it, no man can possible succeed. Whether in college, in a profession or in business, unless a man is tenacious, unless he sticks to thing until he has mastered it, he has little chance of succeeding.
 "One failure, you know, leads tol another failure-and one success