Show SCHWA SCHWAB BUYS SILVER SILVERMINES MINES IN MEXICO Says He Will Launch Greatest Mining Corporation in Republic DEAL WITH GUGGENHEIMS American America n Smelt I rig Company fly Looks Look to San Toy as ns Heaviest Je l Cus tm Customer bus bus- tomer forner III in South Charles M. M 1 Schwab the tho noted steel magnate has actively ply entered the Chi Chi- Chi Chi- mining Held and ancl proposes to lo round found tl the o biggest gest mining corporation in Mexico He lie admits owning the SanToy SanToy San SanToy I Toy mine and has purchased other oilier sil silver sit sit- II- II ver vel claims In the same iamo locality In t the R. n Santa ta district II HP lie f will If necessary s. n erect a n smelter of hl his own to treat his ores ors hut but may have the new ru Guggenheim smelter at Chihuahua Chihua Chilina- hua hun do eo this Mr Schwab and parties of oC capital capitalists from Crom New York arid and Pittsburg who made madl a hasty trip to to clo close u up th the tho lord deal passed a. a ed through El EI Paso Saturday night ht on their return home says tho the Herald They purchased a largo large group of oC sliver producing mines which will be organized under tinder the tho name nam of the San Toy roy Mining compan company and will vIli become tho the gre greatest mining corporation in tho the republic of Mexico according to the steel magnate him him- self solf Mr r. r Schwab declared to a lI 1 reporter at th the train Myself 1 and friends with me from flom New York and purchased n a. group of or sliver silver mines In the vicinity o of Chihuahua from flom Senor Th new now acquisitions will vill he bo organized org d tinder tinder tin un der tIer the name of oC tho the San Ran Toy Mining company and antI the con concern corn will be he th the greatest mining company in Mexico without exception We Ve purchased purchase I these silver Filver mines minos but no iron mines nor not did tIld we Inspect an any Iron mines Went to lo Inspect Property The trip of the millionaire was wn math made to Chihuahua for the purpose of oC lookIng look Ing log over th the newly acquired properties proper ties tie which engineers and ani i ts had lund been heen sent into Chihuahua t tu to Inspect and examine personally before the deal was closed Donald B. B Gillies Mr Sch Schwab fth special mining engineer formerly of o ci C Butte Mont Ilont had hall made mado tours tOUl'S of or In Inspection inspection In- In sp over ever the properties some time tim ago anti and carefully looked Into all an th the i different pha phases eH of the mines I he made his report to Mr Schwab Mr Gillies is considered on one of or th thu the S most e eminent authorities on mine mines I and antI metallurgy in the United States State and devotes his entire time and attention attention atten atten- tion lion to looking after Mr 1 rr Schwab Schwab's mineral Interests The rhe organization of the San To Toy company will be perfected when th thu party reaches New York The capital capita capitalI 1 I stock of or the tho company has not yet beer been r determined hut but it will be he C kept down dow downto i ito to as low a figure as ns possible M Mr h Schwab declared J. J F. F general manager manage r of the San To Toy com company pan under which i ithe the new will be he formed re 10 I In a th the thc ono of or the party part that did not relur north Mr 11 hinson will look alto after Ithe I- I I the local 1 end nd of oC tho the organization o otho of f the tho enlarged cd company and will ll super suler I intend nd the improvements that are no now nov P Pin in the slate state of ot pro progress on the Sa Sat San I To Toy mine and anti the ones that will b hu he started on the new 1 Arrange C With Hh Gu us Mr 11 Schwab stated that arrangements arrange ments meats will wili be he made matIc with the tho Gugg-en- Gugg helms as soon as he returns to New Nev York to have ha the ore oie tal taken takemi cn from rein th tho San Sun Toy company compan sm smelted smelled by th thc the American Smelting Smelting- and ani Refining company's com corn pany's smelter smeller that Is now being bullat built bull at Chihuahua and ancl which will be completed com cons in tho the rica near future He lie stated slate I that If Jf a satisfactory agreement ag can ca cannot not be made th then n the San To Toy will wll erect its own smelter at Chihuahua It Is Js known that the American I I n Smelting and antI Refining company I is looking forward to the San Toy minas mine min as one of Us Its largest customers customer when I the time smelter Is Js finished anti and it is Isal sai al said l that the smelting 1 company compan will mal mak c covery every overy possible effort to in meet the tho do do- of the San In To Toy especially now nou that the new mines have ha been nc ac- ac and the the concern will vilI he be th the lie largest in the republic Retracts Retract Statement nt However Mr Schwab intimated in the interview that the time San Toy fey 10 will build its Us own smelters and will take talie care o of ft Its own ort ore Later ho he re re re- tract d his statement saying that his feeling was most kindly toward he the American Smelting Smelling and anti nel Refining ning company Compan and that lint he lie did not wish to antagonize tho the company compan in any way if IC ho he can lea deal with It Mr fl Schwab when asked to state what wa wa- was the ml mission lon to Chihuahua said in detail Ve We went ont down there thero lo to bu buy n a group of silver sll mines in the vicinity of ot Chihuahua We e WI wore were IO there a day and a half looking over 01 the properties and spent loui hours visiting mines What region do 10 the they thoy Jj lie In and antI what are arc their names he was asked There Thero aro are so man many mines In iii the group just purchased that I could not state what the un names nes of ot the properties are arc but they thoy are moe located in tho the Santa Eulalia Eulalla district rh They are arc all silver or producers J and anti we will organIze organise- them tinder tho the San Stun l Toy o Mining lUning company compan making the largest gest mining corporation In n the tho entire l republic of Mexico |