OCR Interpretation


Goodwin's weekly : a thinking paper for thinking people. [volume] (Salt Lake City, Utah) 1902-1929, August 14, 1909, Image 5

Image and text provided by University of Utah, Marriott Library

Persistent link: https://chroniclingamerica.loc.gov/lccn/2010218519/1909-08-14/ed-1/seq-5/

What is OCR?


Thumbnail for 5

GOODWIN'S WEEKLY 5 I
THE MARKET AND THE MINES
For the second time since it began to pose as
a dividend payer the Iron Blossom Mining com
pany has defaulted in' Its monthly payment. Word
from Provo that the directors at their monthly
meeting Tuesday, shook hands, remarked that ic
looked like rain and adjourned to Mr. Smoot's
drug store for a round of soda waters without
discussing the amelioration of the condition of
the stockholders, took the talent completely by
surprise. When the solemn fact was finally real
ized, long and unprofitable arguments were held
as to the causes which led to such conduct on
the part of the Beet-Growers' Delight. Responsi
bility for the passing of the expected seems to
rest between the mine itself and the Tintio
smelter. Evidence tending to exculpate the mine
is found in the shipping records which prove that
Iron Blossom's production has kept pace with,
and sometimes surpassed, that of the Colorado.
K The Iron Blossom ore may be of lower average
grade than the Colorado product, but the differ
ence is not great enough to explain the disparity
in profits. All things considered, the arguments
at last resolve themselves into an indictment
of the Tlntic smelter.
t O 5
Everyone knows that the smelter has Deen
having one of its fainting spells and has handled
no ore for two weeks. This, together with the
usual delay in making settlements, may be
enough to account for the stringency in the vi
cinity of the Iron Blossom's treasury, especially
as that treasury has never operated upon a
very wide margin. Such an explanation of Iron
Blossom's delinquency revives the threadbare
question. ''What is the matter with the Tintic
smelter?" Is it a failure? And if it is a failure,
why? Located where it has at hand every var
iety of ore needed and free from all possible
interference on account of smoke damage, re
garded with the friendliest eyes by all the min
ing interests of the sfate and started at a time
when the mines were in dire need of -smelting
facilities, the Knight plant had all the initial ad
vantages which make for success. Its misfor
tunes must be due to defective construction,
faulty equipment, or inefficient management
perhaps all three.
& & &
The Tintic project was first broached by the
I' promoters of its immediate predecessor in the
I realm of inefficiency, the Ogden smelter. The
I . Knight Interests were taken in, in order to se-
I cure control of the ores from their mines. The
I original design of the plant was along the in-
I significant and impractical lines of the Institution
at Ogden. With the expansion of the Knight In-
torests In the Tintic district and the acquisition
of additional properties which greatly increased
the prospective ore tonnage, rendering necessary
an increase in the size of the projected smelter,
in order to provide for the tonnage then in sight,
I the rapid growth was too much for the Ogden
crowd and it withdrew from the enterprise, shift-
ing the burden to "Uncle Jesse's" shoulders. Mr.
I Knight resolutely undertook the completion of
the work, but from the start his policy carried
in lis heart the germs of a fatal malady.
fc7 Cfc t
On the Knight staff of experts there was not a
metallurgical engineer or a single man with
smelter experience. The most important prob
lem, that of management, was solved in "Uncle
Jesse's" happy-go-lucky style by the installation
as general manager, a position requiring technical
knowledge and ability of the highest degree as
well as years of experience, his son-in-law, "Wl
Lester Mangum, who was neither assayer, chemist
nor metallurgist, absolutely without smelter ex
perience and whose knowledge of the intricacies
of its operations consisted of his observations
of the smoke rising from the stacks of the Salt
Lake smelters as he rode between this city and
Provo on the train. A most estimable young
man, a former member of a more or less success
ful brokerage firm and undoubtedly gifted with
much business ability, he is as competent to
manage a smelter as is a boilermaker to re
move a vermiform appendix.
tw t 5
The management having been arranged for
the next step was to secure an engineer to com
plete the design and superintend the construction.
Chance or inspiration led "Uncle Jesse' to a gen
tleman who announces himself as a mechanical
engineer and, incidentally, a builder of smelters
and some other things, with offices in the Dooly
block. This getnleman had a slight advantage
over Mr. Mangum n smelter knowledge and ex
perience n that he had actually been Inside of a
smelter, having at different times been employed
by various smelters in subordinate positions in
their construction departments. His last pre
vious engagement of this character had been as
draughtsman for the American Smelting & Re
fining company. But If there was anything in the
knowledge and experience so gained which ren
dered him remotely competent to design unaided
a real smelter which was expected to smelt, he
most diligent examination of his recoVd falls
to reveal It.
& & S
With this portion of the administrative force
in woiking order a demand presented itself tor a
metallurgical superintendent and Mr. R. S. Mc
Cafferey, like the mechanical engineer, had actu
ally been inside a smelter and his competency
may be surmised from the fact that, although
he was under contract for a considerable term,
the regularity with which ho permitted the fur
naces to freeze during the first attempts to op
erate the plant led to his early departure. It
also led to the suspicion that he entered Mr.
Knight's employ under the misapprehension that
he was to superintend a cold storage plant in
stead of a smelter. Backed by this astonishing
array of talent, Mr. Knight finally launched his
enterprise and simultaneously procured for him
self the perennial occupation of prying it off
the rocks. Mr. McCafferey was succeeded as met
allurgical superintendent by Mr. G. G. Vivian. Mr.
Vivian Is reputed to have conducted successful
smelting operations in other places, but does not
yet seem to have done the trick at Tintic. How
MONEY ON REAL ESTATE, LONG TIME,
1 T f A MITT EASY PAYMENTS RELIABLE
I lAJAMrLD representatives wanted.
I The Jackson Loan & Trust Co,
1 Fort Worth, Texas and Jackson Mississippi
' J
1 H
cquot I
Champagne I
Dry and Brut H
The I
standard H
of fine H
Sold by all champagne
high class dealers jH
H fl
THE I
WILSON CAFE I
Table d' Hote
DINNER I
I
For $i.oo is the Best in the City. fl
So is the H
Table d'Hote Lunch I
for 35 cents. ,1
I
Breakiast, lunch or dine at ,
The Wilson Cafe I
Music at Lunch and Dinner H
I RACING I 1
Salt Palace Saucer I
Track I
2 EVENINGS
NEXT WEEK !
!
TUESDAY
FRIDAY
General AdhAssion 25c
1 II

xml | txt