The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-02-17


.ouc,ng bullion than in manufacturing
lace. they decided to make the change
ana went TO Colorado 10 1amiliarize |
themselves with the new undertaking.
anne father had succeeded 50 well in
his lace business that he did not care
to attend 10 his smelling interests
which he transferred to his sons I'M
der The name and title oil Nj. Guggen-
hein's sons but he continued to be
member OF the firm for many years
thereafter He died in 1905. The
seven sons, in order of age were
Isaac. Daniel, hurry, solomon, BenJa-
min. simon and William. All Of them
i'm due course, became participators
In this great industrial adventure
The leadership was taken not by the
eldest son. Isaac, but by the second
Daniel. who proved himself man Oh
remarkable energy and sagacity. The
Ihrothers decided to extend their op-
Ierations into Mexico and in 1890 they
built "a lead smelter at Monterrey
and five years later lead and copper
smelter at Aguas Calientes. Ihey
now had three plants, producing lead
Ibullion and blister copper so they de-
lcided in 1896 to build a refinery at
Perth Amboy in New Jersey UP TO
this time the only mines they owned
were the Tepezala, near Aguas can
Ientes. and the Reforma, near Mon
Iterrey. Later they secured lease on
the Encantada mine in the Sierra Mo-
iada. They were now an important
smelling consolidation and were riv-
ais of the first big smelling iombin-
alton. namely, the one Identified with
the Ohama q Grant Smelling Re
filming company, the leaders of which
we're GUY G.. Barton and f. d. Nash
of Ohama. together with Edward Ed
Idv w. H. James and James b. Grant
lam of Denver In 1897 this group hac
, bought the san Juan smelter at Dur
Tango and they were working in har'
mony with A. b. Hanauer Of th'
, Hanauer smelter at salt Lake City
o. They owned a smelter at Denver, ant
!. both smelter and a refinery at Oma
, Ina. The Guggenheims were thor
q i'm their side. rhiefly on arcount o
% the business done by the Philadelphi
nlant at Pueblo on April a. 1899,
4 comprehensive consolidation was eff
fected in the Name of the America
n smelling & Refining company un
j. der the leadership of Nash, of tn
n, Omaha & Grant company and
a Barton Sewen president of the Unit
n, ed Smelling & Refining compan'
N, which owned the National refinery
h. south Chicago. lead smelter at Ea'
10 Helena and the Great Falls smelte
M Another influential man was Augu
If Never. who brought the Kansas Cit
a Smelling e Refining company in
" the combination this last compar
,e lowing smelters at Kansas Cit
40 IcadNile and Fl Paso. In additi'
10 there were included the Globe SINE
no ter at Denver the Pueblo and Col
n,5 RADIO smelters at Pueblo. the Amer
ee can and Bimetallic plants at Lea
nd vile. the Pennsylvania and German
es smelters at Salt Lake City, and t
Il two plants of the Aurora Smelling
Of Refining company. one in Illinois a
~ the other at Ieadviue. The chief "a
NJ tor in bringing this big deal to CO
inf summation was Frank A. Underwo
sat who was backed by the brokera
.ou firm of Moore & Schley, in New 70
INV The new corporation became kno
n lat once as the smelter trust; 1t "
"a regarded by the mining industry
no. a menace that could only be mitig
81 cd bv the competition of the Gugg'
orc helms The A. s. & r., as the co
m Ibine was called, asked the Gugg
,iD, helms to come in. Offering them s.
- GOO 600 for their properties but Il
mo- ldemurred TO the prospect OF play
+be second fiddle. The truth is that
IA smelling consolidation. like most
,t,o fairs of its kind, included large ?
i,oa norton of dead wood. OF the mi
tine smelling plants embraced in the d
ho Ionlv three or four were earning
,f- Iappreciable profit several were
+o.- ING money. and their owners were
an "A tight place AS soon as the C
mo solidation was effected. there was
aap desire on the part of sundry
,,a1l stockholders to realize upon &
IN holdings. and TODD this conveniel
mite. it was imperative that the control
Zine the western smelling industry
LIANT made complete by including the G
aedv genheims. because the merger W.
,nk- warrant the boosting of the sh
,osi- and the unloading of them on
and public. All this was done in
. his course. The negotiations with
fool, .Cuggenheims We're continued l
the finally they agreed to accept
much third of the stock in the Amer
mess smelling & Refining company in
eng change for their properties; bu
Ia in the meantime they had purchases
rited the open market, somewhat owe
dis sixth of the stock of the compan
and that they controlled over half;
melt at the first stockholders meeting
,.eor- stead OF the American Smelling
com Refining company swallowing
,resi- Guggenheims, as the newspapers
other ported. it was found that the Gue
.ro,-or helms were in the saddle and hac