The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1919-04-24
MIAMI WILL PROFIT
BY WAREHOUSE PLAN
trna and Zinc Producers to Work
out Storage System That
SOLVES Financial Probicsna>
OUR INVESTORS INTERESTED
vccting Here saturday TO Consider
Project which is Expected to
Revive Mining Industry.

Action taken recently by large
Number OF mill owners and producers
o AZ the Miami district. gives promise
of cf'ecting a reJuvenation OF that
field and OF providing the means
vherebv the mining district will un-
derwrite It's own economic independ-
euce. In other words. the plan will
enable producers TO sell their prod
nets % Ncw york at top prices rather
han 10 accept local prices which
they are now compelled to do
through lack OF facilities TO handle
thcir output
In brief, the program contem-
mates doing for the lead and zinc
mining industry what the tank does
for the oil industry and the elevator
does. for the wheat industry. II pro-
yidcs 4 system OF storage which will
enahlo the producsS to borrow on his
product and TO accept only prices
which he Is willing to accept from
the buyers who have heretofore
takca advantage of the situation 10
obtain high grade products at the
, lowest prices.
Scores Of Tulsans will be ben efi tied
And a meeting which is to be held
here saturday will determine what
action those T>ulsans who have in
vested in thetMiami mines will take
toward joining in with those who
have already put their money into
the warehouse system
Local Capital in Mines.
1T is estimated that over a million
and half dollars OF Tulsa money is
invested In lead and zinc mining
propc rites In northeastern ok lah oma
probably million more has been in
vested by Muskogeeans and people
living in that vicinity Up to the
present time there have been only
nominal returns on the capital which
has been invested. This has been
conditions. which the warehouse IL
expected TO relieve. have been work
Ing against the district Because OF
lack Of storage facilities, producers
have been compelled to accept the
$frst prices offered for their produc-
ton
The first steps have already been
taken to relieve this situation. The
Oklahoma ore Storage asso ton
which In composed OF producers and
mllcrs interested in the Oklahoma
mining properties. has constructed
one warehouse. Those who are ex-
pected TO avail themselves or the
opportunities To be furnished by the
warehouse system are those who are
now Interested In mining properties
and who know the present marketing
conditions.
As matters stand the price Is now
fixed by the necessities OF tho pro
ducers who must keep operating.
They must sell and cannot borrow
against their ore.
Wasteful handling from bins tt
ears causes heavy loss from water
wind and shoveling.
The general plan OF the storage as
ncation IL to standardize shipments
according to grade and to issue GER
tficatcs which may be used to Dor
row up TO so per cent of the value OF
the ore. This will bring about tbs
following conditions:
Stops Arbitrary Price Fixing.
Tho producer need not sell at ar
arbitrary price fixed by buyers, ir
order to secure the cash for his pa,
roll and operating expenses.
The producer. may at cost OF 81
cents ton. hold enough ore In tn
warehouse to materially affect price
and yet have money to operate on.
The warehouse association, b.
Keeping large quantities OF ore con
SANITY on hand. carefully graded and