| OCR Text |
Show warn to sfluiifDiE - .WIi li-lE3E5 SfJELTEEJS The extent of the operations of the American Smelting and Keening com-pany com-pany is beyond the pale of comprehension, comprehen-sion, for "during the last year it has planted furnaces in Alaska, . South America and Mexico, as well as enlarged en-larged its Western branches in the United .States to proportions of gigantic gigan-tic scope. Utah mining men are familiar with its immense propositions here, inasmuch as the new plant at Garfield has been brought directly to, their attention and affects the welfare of each local property, prop-erty, but large as is the Garfield smeft-v ers, they are as'lnfinitesimally small in eomparfson with the plants that will soon be operated In Alaska as were tho original furnaces of thirty rears ago behind those of the present day. N Ideal Smelting Country. ' ) . Alaska proves to be the ideal smelter country of all the world, because the ores that are now - coming from the ledge mines prove to be self-fluxing. Eicn in copper, gold and silver, they are said to suggest the recovery of these metals at less cost than was expected ex-pected even two years ago, when the pioneers called attention of capital to the magnificent , mining opportunities there as soon as treatment - facilities should be afforded. ; Effect on Prices. According to a most renowned expert, who recently reported upon the outlook, since the American Smelting and Refining Refin-ing company decided to invade the Yukon Yu-kon and other districts, copper will be produced there for as low as 2 cents per pound, and yet the mining of low grade copper ores will be as profitable as producing the red metal from high grade ores in the United States. There are millions of tons of low grades of it in the, great Alaskan fields, furthermore, further-more, and these are expected by the well-informed Investigators to exert a remarkable influence ultimately upon the world's eopper prices. . Utahj Men in Party. At this time the Guggenheims are gathering their forces in Alaska: in preparation for serving the miners with all the ore treatment facilities which may be needed, for several years, and quite a number of Utah men havo been invited to accompany the party, which, it is understood, will be present at the blowing-in of a few. of the furnaces next month. On the return to tho States, the Guggenheims are to stop in Salt Lake and here witness the inauguration in-auguration of -. work at the Garfield plant. ! To Utilixe Ships. - : I Already having control of a number of plants in Mexico, the Guggenheims have commenced to supplement . their smelting operations there by the 'acquirement 'ac-quirement of railroads connecting the larger mines with their plants in this, manner, and also extending railroad lines from the smelters to the principal Mexican ports of entry, indicating that ships "are to carry the bullion to the New Jersey refinery of the company rather than railroads as heretofore, x. Operations In Peru. ' " " , ' ' 4 . J " For operating in South America the Peruvian Mining, Smelting and Refining Refin-ing company is being fostered by these aggressive gentlemen, according to information in-formation just received in this. city, and while the names of the incorporators so it have been informally announced, this corporation is said to have been conceived for the monopolizing iof all the Peruvian business. Peruvian'operations are to be inaugurated inaugu-rated in the copper field which is under development by the - immense capital and influence of J. B. Haggia, treasurer of the Ontario mine at Park City, and A. W. McCune of Salt Lake, who has been working on the Peruvian fields for many years. Associated in the enterprise en-terprise also are George F. Batchelder, tt pioneer Colorado mining man, C. A. Hight and William F. Moller. Those last named are members of the board of directors of the smelting corporation. corpora-tion. This company is suspected also of being the nucleus of one of the largest copper mining deals the world has ever seen. It is being financed in Boston, the 'home of copper flotations. Blchest Men In World. It is, however, in the largely increased in-creased volume of the world's gold and silver production, which the mammoth enlargement of smelting facilities in South America and Alaska foretell, that the advance of the Guggenheims upon those regions is most significant. All the ' ores to be handled contain more or less of the precious money metals in addition to copper. And in almost every instance, it isTSd. the gold and silver pays the cost of the smelting, leaving the cost of copper extraction ex-traction as clear profit. .There is no stretch of the imagination ftecessary, therefore, to recognize- that twenty years more of life of the younger Gug-genneims Gug-genneims will see them by far the richest men in the world, and through their United States Metals Selling company com-pany absolutely controlling the world's entire gold, silver and copper yields and prices. i |
