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Show II THE SAME OLD PRICE f'j Lead Miners and Smelter j ' Renew Agreement. i ' WILL SETTLE ON $3,50 BASIS ' Contract of 1903 Is Indefinitely 1 Prolonged, j : I No Dato Fixed for Breaking of J Ground for Copper Smelter , 1 Whitley's Eastern Visit. V Tlio agreement of 1003 between the j 1 lead producer and the American Smelt- J lngr and Rertnlng company, under I which the former has received $3.50 J per hundred for his product, has been J renewed, and those figures as a settling IU price In the local market will continue 3 to rule Indefinitely. It was none other than C. W. Whlt- 3, "nay, local manager for tho American, I by whom this Information was brought ' from the general offices of the company y In New York yesterday, the news crush-j crush-j ing, with terrific violence, the hopes of -jji those who have been relying on New j' York prices, less- 10 per cent, lmmc-i lmmc-i dlately the compact of 1003 expired, tfj The situation was exhaustively dls- cussed by both sides, said Manager "Whitney, before tho renewal was agreed to, and In this tho producers were most ably represented. "Without divulging the nature of this discussion, the pro-ducver pro-ducver who'waa not present is assured j that his representatives and thoso representing the lead market concurred ; in what was conveived to be to tho in-' in-' terest of all. An "Indefinite" renewal ij does not necessarily Imply a great l period of time, however, so that a modification modi-fication of the agreement and ar change , in the settling price Is not impossible the present year. . , Concerning the projected copper J 1 smelter that is to be the most Imposing In the American's system of plants, Mr. : 1 "Whitney says that while the department 1 of construction has fixed upon no date , for tho breaking of ground, it will be , reared along the lines depicted by t Daniel Guggenheim during his last visit. Meanwhile tho management continues con-tinues to anticipate the needs of the copper smelter, and contracts covering ; large tonnages are being added to its ) belt as the copper producer develops. Tho contract for tho output of New-house's New-house's Cactus group has been clinched, I this affording a very heavy tonnage, while the management has been assured as-sured by tho owner of the southern ( proposition that active work on tho concentrator con-centrator will bogln Immediately the line from Frisco to Newhouse has been 1 completed. 1 "While there is much speculation con- corning the attitude of the Pederal Lead n company toward the producers of Park ' City, certainly there is nothing tangible I about it at this time, said Mr. Whitney, M nor Is there any confession from either fide that a bid has been made or a price fixed. It Is the impression East that it Is a London crowd which Is now seeking seek-ing the Annie Laurie mines at Klm-berly, Klm-berly, and indeed there are a good many out searching for gold-bearing ,j properties. Manager Whitney's appearance denotes de-notes a most pleasant time during his absence in the East, the courtesies of j the Salt Lake crowd which is gathered there contributing not a little to it. He will leave for the north next week to visit the smelters up there. |
