OCR Text |
Show MINING AND FINANCIAL VOGELSTEINS IN PIOCHE. I . In its last issue the Weekly Record of Pioche scored the scoop of its existence. It beat the world with the announcement of the transfer of the Amalgamated Pioche merger from Ernest R. fi Woolley and associates to L. Vogelstein & Co., J of New York, which is to say, to the United States Smelting, Refining & Mining company. The story, which appeared on the first page of the Record under a New York date, made all the stir that j the; editor could have desired. It was the first , intimation received here that such a deal was pending and came as a surprise to everyone outside out-side the Woolley offices. The moment the cat was out of the bag the boys began to speculate on how long it had been in there. Some surmised sur-mised that the Volegsteln company had been backing Woolley all the time and others were confident that it had become interested only after Woolley had pushed the merger to a successful issue. On one thing, however, everybody was agreed, namely, that a firm representing such strong .nancial interests as the Vogelstein concern con-cern would throw into Pioche at once all the cap; ital required to develop the Amalgamated mines to the highest state of efficiency. The question, Inevitable after every big mining min-ing deal, is: Will it help the Standard Oil, or the Guggenheims? In the gigantic struggle between these commanding figures in the mining world lesser lights are noticed mainly for the brilliance" they add to the chief luminaries. From the beginning be-ginning of the Pioche revival it has been assumed as-sumed that the Standard Oil interests were behind be-hind Mr. Woolley. This assumption will have to be revised. The United States company, although nominally an independent smelting interest, leans toward the American Smelting & Refining company, com-pany, or Guggenheims, rather than toward the Amalgamated. |