Salt Lake Herald-Republican | 1908-06-24 | Page 5 | American Smelting Cuts Salaries by $750,000

AMERICAN SMELTING CUTS I I SALARIES ES BY New eow York June 23 Salaries and inci incidental Incidental incidental dental expenses of officials of the Ameri American American can Smelting Refining company have been reduced T according to Daniel Guggenheim chairman and president of the company compan Before I left Ifft for Europe said Mr Ir Guggenheim on his return from a four months trip abroad I set the ball roll roil rollIng roilIng Ing lug by reducing my own salary salar My I brothers who devote their entire time to the affairs affaire of ot the company also reduced their salaries voluntarily Like all alt well managed companies we cleaned out our Augean stables early last spring and the cleaning process has now been completed While our salary list Is reduced by 1 I am Informed that the efficiency of our labor has improved from 00 to 86 iO per cent to nearly perfect That means another great saving sating in expenses ex The report was denied that A Chester Beatty has left the employ of or the Gug Guggenheims Daniel Guggenheim said that Mr Ir Beatty Beatt In all probability would be the I manager manaKer in chief of ot the Guggenheim Ex Exploration Exploration Exploration company compan Mr Guggenheim pointed p out that none of the Guggenheim brothers drew any an sal salary salary salary ary as officers or directors of ot the Guggenheim Gug Guggenheim genheim Exploration company