| Show II SO SOME fE OPPOSITION TO TOUT UTAH UT AU CON GON S SMELTER Eastern Shareholders Criticising Criticising ing Action Acton of President Broughton SAY HES HE'S SMALL OWNER Believe Beleve Contract Could Have Been Extended Five Years But for Malice Malce Boston Oct 10 Investigation I proves that the tho action acton or of U. U II I. I Broughton In exercising land options In Utah Uth to build an at Independent smelting plant for the Utah Consolidated Consol Consol- Consoli dated was not concurred In b by all al 01 athis of at his associates When hen Mr lr Broughton n put It I up up to U I the to make a year five year smelting contract on the tho basis of or the tilt I present year two contract and anti gave i them until September 29 9 to make male 11 ro- ro ply Illy so a as to give ono one days day's leeway to tc exercise certain land options no conferences con con- were held nor an any attempt mado made on the part pan of ot the tho Utah Consolidated Con Con- people to trade with wih the thc 5 American Smelting and Refining in In- In- In Tho rho Guggenheim reply to the Utah Consolidated overtures was that the they would not renew the tho contract for tor five vo years cars and on September 20 O at a a hastily hasty called caled meeting of or directors director at nt which all al were not present present It I was wa decided to exorcise the land hand options and build a n smelter This action acton commits commis tho the Utah Consolidated Con Con- company to an expenditure of a about Over Ovel has already been paid for tor land an anthero and there thero are further land commitments of 01 about The Tho plant Itself Iselt will wf cost about to build It Is declared ed b by people o who h should know that mat tile tho action of oi Sir Mr sr Broughton Brough- Brough ton In committing the tho company compan to a expenditure Is the result resul of malice malco toward the Gu Guggenheim that an any diplomacy on his part would have resul resulted d In iii conferences and a anew a anew L' L new smelting contract which would have havo secured tho the treatment of ot Utah Consolidated ores at as low a figure as It I could smelt the ores Itself and that would have prevented an expenditure of oC Surplus Only Oll S T It has been understood that tho Utah Consolidated company compan was fi financially Ii- Ii prepared to construct a new now plant but lint we are authoritatively In Informed informed In- In formed forme that lint tho the company's surplus Is Isnow Isnow isnow now less than as It was nece necessary sa to charge off nearl nearly 1000 for forthe the tho lo loss ios s of oC tho the old smelter which has been abandoned an and only n a small amaH portion porton of which could b be used In the construction of ot tho the new plant U. U II H. Broughton who vho was wo made supreme In the management of the Utah Consolidated company compan when tho the control was wa held at nt 26 Broadway Is Isa Isa isa a very small smal stockholder Tho The Interests Interests interests Inter Inter- ests who placed him In tho the mana management management manage manage- ement e- e ment are no longer In control According Ac According e Ac- cor cording to a recent list of oC hol c. c ers tho the entire board boad of ot directors controls controls con con- trois less c s than 1000 shares of ot stock and tim the total ownership of the Standard Standard Stand Stand- ard Oil 01 crowd clowd with wIh their associates and ramifications now amount to less les than shares H. H II H. I. I Rogers and William Rockefeller Rocko- Rocko feller sold soM most of ot their stock within t the he past year ear and between and 5 stockholders now have hayo shares hares s of the tho stock |
