| Show THE LEAD REDUCTION Mining Men Inclined to Look Upon It Philosophically NOT SO BAD AS WAS < FEARED There Are Compensations and Hopes Are Yet Left Clarence K McCor nicks Return and the Passing of the Carisa Dividend Ore and Bullion Bul-lion Settlements for the Week Activity Ac-tivity on tho Iron Mountain Den Beport on the Quincy Bare Samples Sam-ples From the Victor Notes While thc local leadproducer recognizes recog-nizes the difference between 3 market from which he derives 390 per hundred hun-dred pounds and that which allows him 350 for his product as told exclusively In The Tribune of yesterday morning he also recognizes that under weights which have been bearing down upon thc metal for some time he might havo fared worse at the hands of the New York conference and to the agreement by which the market for 1902 will be controlled he was yesterday quite resigned re-signed At all events he has learned Just what he Is required to meet In 1902 and will shape his ends accordingly Manager T R Jones of the American Smelting and Refining company when I asked for an expression on the settling price for next season said ho was prepared pre-pared to congratulate the producers of Utah as 3S0 was more than he had I relied on when the various interests consented to go into the conference and to take hold of a dilemma In the reduction re-duction explained the official the producer pro-ducer sustains n loss of but fourtenths of a cent per pound For example the consignor whose lot of ore contains 10 per cent lead and for which he Is by the smelter allowed ISO pounds net takes a loss of but 72 cents per ton on his ore under tho new figure The example was not a depressing one by any means although with each additional ad-ditional 10 per cent of lead contained In the ore 72 cents Is added to the difference differ-ence that would have been received for 390 lead and that which is settled for at 350 However the producers to whom the news of the new settling price was conveyed con-veyed exclusively by The Tribune all see how with concessions promised by the railway and with concessions that I I I will be exacted by them of the manufacturer 1 facturer of explosives candles wire rope and other mine supplies they will I be able to worry through and maintain their present earnings Of course J viewed In this way the effect of 350 lead In 1902 is a little more farreaching than at first glance but a the manu facturer of supplies has thirty days in which to prepare his schedule under I the new settling price he should not be I Inconvenienced With his losses lightened light-ened by 1ith from the sources Miifmerated the lead producer promises to exert himself to maintain the divi dends oflOOl and to continue his liberal patronage of counters on which he has drawn for the enormous volume of mine supplies that are now consumed in the diggings o the State Again he has the assurance of the American Smelting and Refining company com-pany whose uptodate plant at Murray Mur-ray is rapidly approaching completion that he shall share in the reduced cost of treating his lead ores and with this assurance redeemed by the gentlemen who made It In all apparent sincerity the producer cannot but look less cheer lessly at the 40cent loss l he has been invited to take At all events the out look for him Is not to be compared with what he had cause to fear and the companies wjll continue to pass around their dividends and maintain their pay rolls as hitherto |
