Show LONDON AND SILVER sometime ago acro the mining review stated that the silver production of this country was controlled by london that silver quotations were regulated by the london market in other words that Thread needle street bought our silver at whatever price the london magnates chose t to 0 pay and at the same time supplied india and oriental countries with this same silver as a money medium at an advance which would really place the price of the white metal at about 1 an ounce thus robbing the silver producers of this country and greatly injuring and retarding our mining industry it is with pleasure therefore that the review makes note of the fact that this order of things is about to be reversed or an effort made to bring about this desirable result when the producers and refiners finers re of the united states will sell direct to the consumer and will enter the indian market that a move in this direction is being made is vouch ed for by simon guggenheim of the commit tee of the american smelting smelling Sm elting company who is quoted in the denver post as follows the owners of silver mines will be pleased to know that the smelting smelling sm elting syndicate has taken a new attitude toward the silver market of the world we came to io the conclusion that the silver product has not been properly t handled to obtain the best results every thing was sold through the british brokers and the smelters shelters sm elters had to take what they could for their product hereafter we shall sell bell d direct 1 to the consumer this will mean the establishing of banks in china india japan and other silver using countries and will mean also an advance in the price of silver we shall be compelled of course to hoard a great deal of silver but the new method will benefit all concerned we have agreed with several miners to share with them they taking two thirds and we one third of the excess over 65 cents an ounce instead of raising the treatment price on silver ores to the point at which it stood when silver was higher and which we reduced in order to allow silver mining to continue it has been customary for years for ford owners of large mines in utah and other parts of the west to enter into three year and five year contracts with the smelters shelters sm elters such contracts are of distinct advantage to the miner because it is evidence that the smelting smelling sm elting company has confidence in the permanency perm anancy of the mine and that it will not raise the smelting smelling sm elting charges in the term of the contract the purpose of the american smelting smelling Sm elting and refining 14 company 1 is s to build up the mining indus ry and to encourage the development of mines our treatment charges will be such that many low grade properties proTer ties will be developed it is likely that we shall spend something like improving the plants so that low grade ores may be handled the company has guaranteed to the mid miners a price of 4 cents a pound for lead ores this has stimulated the output but it has been a burden to the smelting smelling sm elting company as a great deal of money has been lost by the company in selling lead to foreign markets at less than the guaranteed price this guarantee is therefore a hardship hard shig to the american smelting smelling Sm elting company but the company compan is making no complaint as it will keep its pledges |