Salt Lake Tribune | 1909-11-13 | Page 1 | Guggenheims May be Dictator in Copper

GUGGENHEIMS MAY BE DICTATORS IN, COPPER Special to Tho Trihunc. . NEW YOPK, Nov. 12. Tho formation forma-tion of a giant copper combine to force down the cost of producing the metal aud boost up llto price of the finished product will be begun within fhe next few days. The combination of the Guggenheim interests aud the Amalgamated Amalga-mated Cole-li'yan properties would give Iho Guggenheiins praclically the control con-trol of (he world's copper supply, as they arn in a position lo dictajo forms lo the Amalgamated interests. The massing of tho interests would rosult. in a $:M 1,000,000 copper trust. The Guggenheiins aro in a position to direct the combine more or lest-, as tho miuing on thoir properties is confined to porphyry por-phyry copper, which cau bo scooped from tho hillside in the rough, at u cost of from 74-! lo S cents a pound. Tho Amalgamated interests, on the 6thn' hand, havo lo conduct -moro costly cost-ly mining, with the result that they cannot produce copper for less than 12 ccuts a pound.