Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1922-01-27
Copper Revival
in Re-Employing
.of Miners Is Seen
honda Company Takes
Ik 5000 Men Idle for
Esl lear-lleela 10
Resume Soon.
Nv HOLLAND.

Resume Soon.
BY HOLLAND,
fonday III last week 5000 pi
ed minefs who have been for
raFs employed By the Ana
oppeF company who have
c Tor nearly a year were
Jack 20 the mines This aes
ignihesut from two points 81
ifst Il emphasizes the re-
tho copper mining industry
means very much 10 the IN
ne oil the United States a.
b our export trade. IL also
show that skilled artisans
been Tor long time idle
being recalled 10 their em-
Probably the Anaconda
pn would gladly have put
in the mines several thou
IRE than the 5000 who are
ecnding the deep shafts OF
and sending 10 the surface
These 1000. however,
4 10 work with compare
because they have not
from the vicinity OF
Many, II not all. OF them
li their own which their
nahled them 10 pay for.
Ire found il best 10 re-
DC rather than to stray
AZ so many thousands did, ia
Employment in the oil fields OF
outhwest or IN the automobile
factories OF Detroit aud Ohio.
lough announcement was made that
lslunet aud Hecla Copper corr GRAFTON
'rthern Michigan pnrposed fssuullns
tions on April !, ~ only sufficient
her Of miners can be secured, no a..
h hss led The Anaconda company 10
900 o. Us employees back TO The mines
Tho mines,
Idle Workers Aided.
SO, also tho benefartlens which this
Hrporation has bestowed upon those who
were out OF work and who were In danger
of suffering for want Of food and OF
clthing have not been known 10 the pub
/llc Yet IL 10 a fact that this corporation.
IN association with few individuals. has
been contributing approximately $4,000 a
month 40 that there may be no suffering
by reason Of enforced idleness. This has
not boon looked upon by the corporation
as charity but as well deserved all
which would be Of value because. IN
addition 10 the human element, ID would
msintsin the workmen comfortably until
they could he brought back to the mines
This however, is not the only benofaction.
The corporation has been furnishing n
thousand portions Of soup every day SO
that the Idle miners IN one of Iis Next
can properties are spared the peril OF
Hewitt Made Prediction.
Twenty years ago. Abram $. Hewitt.
who was formerly mayor OF New YORK,
kAas well as once distinguished member
of congress, and one OF the worlds leading
authorities on the American iron and steel
Industry stated that II there were any
water in the common stock OF the United
States steel corporation II would be
squeezed out. when at one time. the
market quotation on this stock was little
under $40 n share. every one who had en-
perience knew that in this way the water
was, a. Mayor Hewitt said, squeezed out.
lilo also said. IN the course of pro,
longed conversation that though he would
not live TO see the new condition. yet he
believed that within rs years the common
stock OF this corporation would be held
Very little Of It would remain for market
dealings. Mayor Hewitt was at that
time SO years of age He lived long
the steel corporation had adopted policy
BY means Of which the employees could
become shareholders, He then predicted
mon stock would be held by employees
and thar for this reason the danger OF
would be greatly reduced.
Absorbed BY Investors.
To-day there are more than 100000 |
stockholders whose holdings are chiefly of
common stock Gradually, but surely, the
common stock is being absorbed by in
Nestors. So rapid has BEEN the absorp-
tion that some have estimated that,
should it continue for four years. sub
stantially all the common stock OF this
corporation will be withdrawn from the
exchanges and be held exclusively as an
1t may be that congress will decide to
tax sales in the hope that money can be
obtained for the proposed soldier bonus
should tax Of that kind be enforced II
would occasion little concern to the man.
agement of the United States Steel cor
poraton. since that corporation has In ITS
possession almost all the commodities
needed for manufacturing purposes.
Therefore, as consumer 1t would not be
compelled to pay very large tax IL any.
But all who bought these steel corpora
ton products would be required TO pay
the proportionate share of sales tax
Would Have Material.
Reports prevail here that this is one
consideration by the men who are prepar-
ing for the merger Of several independent
steel corporations, and should sales tax
be adopted, then almost all the raw ma
terial needed for the corporation would be
in its own possession as is the case with
the steel corporation.
In fact, II seems to be the belief that
II sales tax is adopted it will be influ
entail in bringing about many mergers
and consultations. The prediction Is
made that a sales tax will lead to the be-
ginning of new era Characterised by
the formation OF mergers far in excess of
combinations heretofore planned or per-
fected.
Equitable Grew Rapidly.
George w. Jenkins, at one time Of in
fluence in the politics Of New Jersey, and
who served successfully as member of
the New Jersey legislature for three terms,
was president 20 years ago of a subordi-
nate of the Equitable Life Assurance 1850
citation. Mr.. jenkins died a few days
ago at his home in New Jersey. The
company Of which he was president was
occupied solely in facilitating loans to
policy holders of this insurance company.
But it seemed after while as though
there were possibilities for greater things
than the mere lending of money upon a
security policy. Then began the enlarge
ment of this corporation. 1t became the
Equitable Trust company. In a few
Of the largest of the trust Institutions of
New York and it's most recent statement
shows that with single exception none
other in the United States possesses
greater resources. Mr.. Jenkins retired from
the management of the original company
soon after its expansion was undertaken,
and since that time has been lawyer in
New York. having large praetice as
counsel for corporations He was a som
in-aw Of the late Marcellus Hartley
Kansas City Livestock.
Kansas City, Jan. 26.-(U. 5. Bureau OF
Markets. observation-disclosures, 4.st9 head;
stock cnws active and strong. best grades,