Show I GUGGENHEIM INVESTMENTS i iSome Some of the Big Things in Mines and Smelters Not Made Good Some unfortunate Investments of the Guggenheim interests in the mining line Une are just coming to light and explain In Ina ina ina a measure why wh there has been such a housecleaning hous m in the field forces for the purchase of these properties was largely large upon the recommendation r of the highest paid mining engineering talent in the country says the Boston News Bureau The Guggenheim Exploration company compan which Is the principal mine owner of the Guggenheim outfit has expended a total of ot In acquiring properties with within within in a comparatively few years One of ot the leading mining assets of the com corn company company pany was the property at Mex This was a group and antI was wasI operated privately for tor years by Barton I Sewall and associates known as the old American Smelting Refining crowd The property produced between and from the old ground from carbonate ores Then no zinc had appeared in the ores and smelting costs were exceedingly low and It was possible possible possible ble at that time to derive exceedingly large profits in treatment of custom ores The Sewall Interests sold the properties to the Guggenheims for and they expended 1 1000 In a new furnace plant and on a new power plant At Atthe Atthe Atthe the same time they purchased a copper property sixteen miles distant and built builta a railroad to connect It with the Valer dena ilena plant so that the total investment at this point amounted to not far from Soon af after er the Guggenheim control how however however however ever arsenic came In the ores and oper operating operating operating conditions changed so that It Is Isnow Isnow Isnow now said that there has not been a dol del dollar dollar lar tar of ot profit derived to date on this In Investment Investment investment vestment At the copper mine they went down feet teet and found that the ore Is isI I practically exhausted running at the low lower lower I Ier er levels but 1 per cent copper Here is a Investment which could probably not be resold for tor over of ot the cost Is now no a fighting word in the Guggenheim offices A second pronounced Guggenheim fail failure failure ure was a property near Sil SU verton verlon Colo Cob for which was paid inId for the mine and an additional 10 0 expended in a new mill and equipment only to discover when the mill was ready to operate that the mine was practically out of ot ore The Guggenheims likewise have a Si 7 Investment In the Yukon but the public was given ghen an opportunity to help shoulder this burden The selling of the shares was given to Lawson who was given an option upon shares at 5 per share The Yukon flotation some people call can It by a harsher name re resulted suited in shares of at the company being distributed to the public at from 6 to S 8 per share The distributor got his stock for 5 per share net but as he had hail previous to the public offering distributed shares among a favored few at 5 he was obliged to take tale this stock back In the open market from 6 to 8 so that the net Lawson profit was 4 of ot ofa ota ofa a point on the shares or OOOO 2 The Guggenheims paid the advertising bills of ot about and received an acknowledgment In the shape of an im in immense Immense mense bunch of Lawson pinks sent to the when Daniel Guggenheim sailed for Europe shortly after the Yu Yukon Yukon Yukon kon flotation Another chapter could be written of at the Guggenheim Investment for the th American Smelting Securities company of t between and In the three smelt smelting smeltIng smelting ing plants on the Pacific coast These in included Included eluded the Tacoma plant for which 1000 4 tm was paid or many times the price at which the same plant had been offered of to other Interests six months previous to the time the Guggenheims purchased it The Selby plant on San Francisco bay cost almost as much as the Tacoma plant It Is not now productive of earnings be because because because 1 cause It la is i shut down tight the agricultural agricultural I tural interests having secured a perma iii lt r ItC n be bev b bd d lt f v vii r the t an n Bri no o 1 was w was s to have li ve been l built on San Sari Francisco bay at It a cost of but b was aban abandoned abandoned abandoned after an expenditure of because of court injunctions Inti from the ag agricultural rl ral Interests l j jr r r iii |