Document 6OMo5p6VOax4npLz4wgBojrE

&SLUM'"' K OUTLIES I. History of Plant .1. Lead Refinery 2 Vhite Lead 5: Zino Oxide Lead-in-011 II. Conditions Affecting Decision to Close Plant .1. Bismuth Problem 2 Operating Costs A. Lead Refinery B. By-Products 3. Pigment department 4. Submission of Nev Costs III. Shut-Dovn Procedure General Lead Refinery Vhite Lead Zinc Oxide Lead-in-Oil Liquidation of Stocks and Miscellaneous Affairs fass i 7 7 9 11 12 13 14 14 15 15 16 16 17 17 19 21 23 OUTLINE VII. Sale of Plant 1. Preliminary Event* 2. Sale to Eagle Plcher I5 28 28 5*(EWSBB53KlE3rri I. 3I5T0T.Y OF TLART ajMSKc*asnas 1. Lead Refiner? Introduction She Parkas Process lead refinery of the International Lead Refining Company at East Chicago, Indiana was built to treat the lead bullion produced by the lead smelter of the International Smelting and Refining Company at Tooele, Utah. Construction The plant vaa designed and constructed under the direction of Mr. 0. ?. Hulat. Ground was broken April 16, 1913 and exactly six months later the plant vas In operation and refined lead vaa being cast. The capacity of the plant as designed vas 5,000 tons of bullion per month. In the paper presented by Mr. 0. P. Hulst before the American Institute of Mining and Metallurgical Engineers at the Salt Lake City meeting In August, 1914, Mr. Hulst acknovledged the assistance rendered by R. Ruetachi In the preparation of plans, C. V. Wilson, L. Crook and F. E. Stolte In the vorfc of construction, and Herman Vltterborg In the operation of the plant. Operation. The lead refinery as constructed vas undoubtedly the most modern of its kind at that time. Mr. Hulst and his staff vere able to take advantage of the knovledge of lead refining to that date and consoli date it Into a modern, veil-arranged lead refinery that had been the model for lead refineries for many years since that time. Effeot of World War I The plant vas veil developed Into efficient operation vhen World War 1 began In August, 1914. Tbe greatly accelerated demand for lead and the higher prices for common and antlmonlal lead permitted the International lead! refinery to refine bullion from Mexico, Canada and various points in the United States, to Its fullest capacity. In 1917 and 1918 a third softening furnace vas constructed and the desilverizing kettles vere Increased in size from 60 tons to 135 tons. Tvo additional 135'ton kettle settings vere also constructed. The original three resi due furnaces vere consolidated into one large residue furnace. The acute shortage of antimony during the var and the genius of 0. J?. Hulst permitted the treatment of large tonnages of antimony ore Imported from Mexico for the production of large quantities of antlmonlal lead. ' The plant passed through a rather critical period during the post var period because of the lov metal prices and the consequent declining production of lead bullion at Tooele, Utah and the construc tion of lead refineries in Mexico to treat the Mexican bullion that formerly had been treated at Bast Chicago. In the early 1920'a vhen tonnages of Tooele bullion vere T low, careful study was nade of the possible use and treatment of ^Jittery plates. Through the initiative of the East Chicago staff f, large tonnages of battery plates vere treated and considerable income r" vsi derived therefrom. In the depression of the 1950's battery plates and secondary lead materials vere bought in large quantities in order p; to obtain an income that vould justify operation of the plant. The improvement in selective flotation methods for separa tion of zinc from lead released tremendous tonnages of high zinc lead or* that formerly had heen economically unattractive because of high ' zinc penalties. These developments increased the tonnage of concen trates that could be treated at Tooele. The capacity of the East Chicago refinery vas exceeded in 1926 and 1927, and in 1928 and 1929 substantial additions vere made in the equipment in order to Increase the capacity of the plant up to 10,000 tons of bullion per month. In the late 1950's the tonnages of bullion available from Tooele vere not encouraging. They kept declining, higher labor costs vere also experienced, culminated by the beginning of World War n vith its freezing the price of lead at 6.50f per pound and its elements of Increased cost, labor Inefficiency and extreme shortages of labor. The extreme shortages of labor vere in part compensated for by the em ployment of vomen in all of the plant operations for the first time in the history of the plent. They proved to be adequate to maintain pro duction but vere obviously inefficient as compared to a normal male vorking force. Bismuth Recovery In 1955* the lead refinery substantially changed its mode of operation because of the treatment of the Anaconda Roaster Residue at Tooele and the separate production of a high bismuth bullion vblch vas desilverized by the Parkes Process. The anodes containing lead and bismuth vere delivered to the vhite lead plant for the recovery of bismuth from all of Anaconda's operation. More vill be aald about this development in the history of the vhite lead plant. Personnel In addition to the personnel vho built and started the opera tion of the plant, mention should be made that In the `stunner of 1918 M. V. Krejci was transferred from the Montana operations to East ./jTfiC&icsgo as Refinery Superintendent. Mr. F. P. Clark, former Chief '4lrr,ai**lt at East Chicago was made General Foreman of the Lead Refinery ^rjsad contributed a great deal in the operation of this department. Re i,ii: m promoted in 1925 to Lead Refinery Superintendent and remained in ^ ttbtt capacity until his death In March, 1942. yt. i*d Marketing Problem 2. White Lead In 1919, it was recognised that outlets for refined lead , ` would be distinctly limited in the post war period. In recognition V ef these conditions, it was decided to look into the possibilities of producing some lead product that would form an outlet for a substantial part of the pig lead produced at East Chicago. f Under the direction of Mr. William Wraith as President of the International Lead Refining Company, it was decided to investigate the possibilities of the Sperry Rrocess for the production of electro lytic white lead. Sperry Process Investigation With the help and guidance of Hr. Elmer A. Sperry and under the direct supervision of Hr. M. W. Krejci a small experimental Sperry cell for the production of electrolytic white lead was started In a special building at East Chicago and known as Building C013. Sperry Process Development In this small experimental plant the Sperry Process was developed into a commercial process and plans were Immediately made for a 10-ton electrolytic white lead plant to be constructed at East Chicago. White Lead Plant Construction The appropriation request for construction of the 10-ton white laad plant was approved July 3, 1919* The plant was placed In operation January 30 1920. Personnel Changes On February 1, 1920 Mr. G. P. Hulst and Hr. Milo W. Krejci resigned from the International Lead Refining Company to engage In other activities. Hr. 0, M. Kucha was appointed Manager and G. E. Johnson was appointed Acting Superintendent of the East Chicago plsnt which Included the lead refinery and the white lead plant which had just been placed In operation. Of the men who started in the original development of th# iv.,>1 ; "Si -\ ,- >. 'V^-'* ; * PNYC0cooi?32 ml Sparry coll at East Chicago, mention should he made of Mr. T. E. Cook who was invaluable in the solution of the early problems of making . the process practical and relatively simple for workmen to understand. Mr. E. A. Mayhew started as a filter operator in the experi mental plant. Later, by successive stages he became a foreman of the white lead plant and remained in that capacity until made General Foreman of the white lead plant which was his position when operations were discontinued in July, 1946. Mr. R. G. Bowman contributed a great deal to the development of the Sperry Process in its early commercial operation. He was trans ferred from Tooele, Dtah to East Chicago in May, 1920. He later became Assistant Superintendent of the East Chicago plant and continued active on the management staff at Fast Chicago until July, 1946 at which time he occupied the position of General Superintendent. Mention should be made of the many years which Hr. V. J. Knox spent as Vhlte Lead Plant Superintendent. Among the research men succeeding Mr. Knox as X'esearch department beads were T. H. Donahue, S. V. Stockdale and W. Shropshire. Mention should also be made of Mr. Perry S. Toney as Mechani cal Superintendent. One of the Important developments which he con tributed was the anode washing machine which is gradually being ex tended in its use to all types of electrolytic washing operations. Development of the Bismuth Plant and the recovery of all of Anaconda*8 bismuth through the white lead plant was in part started by Mr. T. H. Donahue when he was in! the research department. It was ex panded into a practical operation when Mr. Stockdale was head of the research department. . A great deal of exploratory work in the use of the Sperry Process for the refining of impure metals and the production of a super ior white lead was actively studied in the 1930 period. Many possible processes were also explored in an experimental way, some of which will no doubt become commercially attractive in future years. 3. Zinc Oxide In March, 1921 Mr. G. S. Brooks arrived at East Chicago for the purpose of building and operating an experimental zinc oxide furnace. It was proposed to produce sine oxide from electrolytic tine received from the Montana operations of the Anaconda Copper Mining Company. The experiments using oil as a fuel proved successful and a commercial unit consisting of Block Ho. 1 - French Furnace operation at East Chicago - was built. Ground was broken in July, 1922 and the unit began operating oil January 1, 1923. Ho. 2 French Block was built and began operations in October, 1924; In addition to Mr. Brooks, Mr. F. 0. Case, Mr. L. G. Duncan, Joe Mickel and Len Clark were import ant in the development of the zinc oxide business at East Chicago. '4 ` A : .. . . _ % . = -i i- \ 1 u . *-. n- .Try* \* '. ty ... * .; -v. : . .. ..*Y r.S* . '**: : io .'>?* '-!i jar-'In 1925. to further expand the zinc oxide business, it vas *,j4eided to build a plant similar to Block Ho. 1 at Bast Chicago at `Ifcron, Ohio with the thought that this would supply sine oxide to the -large rubber companies operating in the city. Promotion of the use of . froneh Process zinc oxide in rubber manufacture was one of the Import(vttfc developments accomplished by the zinc oxide department. Mr. F. 0. Case had a great deal to do with the construction ij'et the Akron plant and its later operation and handled the sale of the v.-production. Mr. T. R. Janes, J. F. Clark and Joe Kllmek were important `,`s*n in the Akron organization. # ' v'Ji Mr. F. B. Eurleas entered the employ of the company at Akron la lovenber, 1922 as a.clerk in the office. He later assisted Mr. Case in sales work at that point and waa transferred to East Chicago In 1929. He later became District Sales Manager and in 1936, Assistant Sales Manager, assuming the position of Sales Manager in 1942. ' In 1925, Mr. G. S. Brooks vas promoted to the position of President of the Geiscfce Spolka Corporation of Foland. Vhen he left Mr. F. 0. Case succeeded him as Manager of the zinc oxide department at East Chicago and Akron. At that time Mr. L. G. Duncan who had been with Mr. Brooks in the initial venture was placed in charge of the Akron plant. Zinc oxide sales reached a volume of 30,0C0 tons annually. pj:; Development of Zinc Oxide Production from Scrap Zinc It bad been recognized In 1935 and 1936 that some other source of zinc might become necessary because of the uncertain supply from the vest. There vas also an increasing amount of scrap becoming avail able aa die cast scrap in various forms which every one recognized Would ultimately become a problem to reclaim. Therefore, in the years between 1935 and 1937 efforts were made to find some process of using scrap zinc for the production of zinc oxide. In this development, B. S. Olsen and George Anderson had a considerable part and were later granted patents for the fundamental characteristics of the muffle furnaces which have been so successfully used at East Chicago. In 1936, Mr. Case was promoted to Manager of the Midvest District of the International Smelting and Refining Company and with that change Mr. Johnson was made Slant Manager for the East Chicago and the Akron plants. Mr. Duncan vas made Sales Manager. . In 1937, the power shortage in Montana created a serious situation in the zinc oxide business at Akro** and fast Chicago. There was not enough electrolytic zinc available for zinc oxide production. It vas decided to discontinue the operations of the Akron, Ohio plant and it vas closed down in September, 1937- A fv f tha Akron employee's were transferred to East Chicago but most of the -former Akron employees remained In Akron, Ohio.. The operations of the muffle furnaces became an Increasingly i. important part olT the zinc oxide operations at East Chicago, and at . _ Vh time of the closing of the plant in August, 1S46 the muffle furnaces r- m\. h*d been developed to the point vhere all forms of zinc oxide produced ? Ljfr'dt East Chicago such as U.S.P. quality, ceramic, paint and rubber 'Slides . were all produced on i the '' muffle '. '" furnaces ' from ' scrap ' zinc, . 4, Lead-in-Oil . Substitution of other pigments for white lead in the ceramic sad paint industries caused a shrinkage of sales which became quite t ^ serious. In 1930 a survey of the lead-in-oil market was made and in I931 the production and sale of this product was begun. m Hfl U That area of the country east of the Mississippi River and north of the Ohio River was actively solicited. Over 2,000 outlets were established and the tonnage of dry white lead sold as lead-in-oil Mounted to over 30% of total dry lead production. Beginning with World War II shortages of materials and re strictions on their use as imposed by V7B and CPA reduced the volume of lead-in-oil available for sale. However, production and sales were maintained on a reduced basis throughout the war and until the closing of the East Chicago plant. 1^: 6 B5raK!^ltBn((1^SBas^raiI^5Easffiasw,. II. CPKDITloss AFFECTIHG DECISION TO CLOSE PLAKT t January, 1946 1. Bismuth Problem Fx, Mo. The Tooele staff studied the Trail, B. C. opera tions In connection with the bismuth problem which had been precipitated by the purchase of the Darwin Mine by the International Smelting and Refining Company In August, 1945. This mine was supposed to have been a low bismuth mine but shortly after It was purchased it was discovered that It was very high In bismuth. This bismuth began to be an ag gravation to the bismuth problems already existent in connection with the Tooele smelting operations. - February 22 to V? March 20', 1946 JMkL m The Trail, B.C, Betts Process plant studies were completed and reports then submitted and it was suggested that a study be made of the possibility of Installing a Betts Process plant at East Chicago and also at Tooele. Approximately two weeks were required at East Chicago to prepare and check the estimated construction and operation costs at Fast 5 Chicego end at Tooele. In addition, the Farkes Pro cess coats at Fast Chicago vere analyred by the Fast 6 Chicago staff and estimated costs submitted March 19tb and 20tb. The decision vas made that the amount of money in volved to construct a Betts Process plant at either East Chicago or Tooele was not warranted when all factors vere considered. 2. Operating, Costs A, Lead Refinery March 16, 1946 Mr. Milne prepared a memorandum to Mr. Johnson rela tive to the statement of East Helena and Tooele 7 bullion treatment costs for the years 1938 to 1945 with a supplementary tabulation showing the total 8 metal and inventory gains over and above what we had to return to Fast Helena and Tooele. The study of lead refining costs vas continued at East Chicego. The bismuth problem and smelting costs at Tooele were studied as well as the effect of East Chicago refining costs cn East Helena bullion. In the study of the many factors affecting refining costs at East Chicago, it vas concluded that these refining costs were high principally because of over 9 head costs. There obviously was a hang-over of 10 high costs from war conditions, the Inefficiency of 11 plant operations during war conditions and the use '\ ;4 ` ';|e ` Iv^J - iA - 'V- *V' SilliillliillllllilllllllllilillllMiBlIiilllilliissIilllSilillllilllilllllllilillSlil April 30 to *y 3, 1946 r: of a large proportion of women employees vho vare leas efficient than men. - East Chicago also retained a number of elderly em ployees during the var period because of the general shortage of all classes of help. Some of these men had reached a condition where their ability to func tion vas decidedly limited due to their age. The New York office, in their discussion of Omaha treatment of by-products, recognized the possibility that Omaha might want to treat, all of the Tooele bullion and the East Helena bullion as veil. Dis cussions developed a number of possibilities. At about this time, the Rev York office requested that nev estimates be prepared at Fast Chicago to see vhat the refining costs might be reduced to If tbe plants wore threatened vith a shutdovn of their lead refining operations. Mr. la1st received a letter from Mr. Valker of the American Smelting and Pefining Company on the sub ject of International bullion, offering original terms for the treatment of this bullion. This vas the information vhich Mr. Laiat telephoned Mr. Bovran on Kay 1st. A statement of the bismuth costs, shoving costs at Fast Chicago, also charges made to Anaconda Copper Mining Company and International Smelting and Re fining Company for the ten years 1936 to 1945 In clusive, vas submitted by Mr. Milne and discussed vith Mr. La 1st. The Accounting Department prepared a statement of bullion refining costs, 1936 to 1945 inclusive, vhich vaa used in anticipation of a complete dis cussion vith Mr. laist. A statement vas prepared shoving the repairs to the lead refining department, hov they had increased from a lev of $35,COO in 1938 to |ll6,0C0 in 1945. Mr. Bovrcan prepared a memorandum to Mr. Johnson on the subject of Reductions in Overhead and Fixed Expense ait E^st Chicago. The bismuth mntpsrlson between Fast Chicago treat ment and Omaha terms vas made. Mr. Bovrcan made a note on Ventilation and Health Hazard Expenses that might be necessary at East Chicago to bring the Farkes Process plant up to a safe operating condition. Mr. Laist wanted this 8 figure as 8 credit to the installation' cost of the Betts Process. n E*. la. - j 20, 19*6 The East Chicago staff prepared revised estimates of the estimated complete Farkes Process refining costs. May 15, 1946 editions, vbieh Indicated a 19 refining cost per ton of #10.22. There vere also submitted vlth these; estimates on the same date com plete Farkes Process costs at East Chicago without custom materials which brought the bullion refining cost to #11.71 per ton, then the estimated cost of refining bullion at East Chicago only without custosw* or by-product treatment at #13.20 per ton. Copies of all of this information in flies at Fist Chicago. >Mj 20, 1946 A statement was prepared;showing the cost of treating all materials, bullions and customs, baaed upon the 1945 total costs, adjusted to give credit for in- 20 . come from other sources which Indicated as estima ted 1946 cost of #11.57 per ten. Discussed with Mr. Laist a bullion treatment com parison which was dated May 20, 1946 shoving the bullion treatment comparison between Fast Chicago and Omaha, which indicated a gain of #101,760,CO. 21 'toy 21, 1946 Mr. Laist objected to the penalty for bismuth, and these figures were later revleed with the help of Mr. Case, Into a new arrangement which was Indica ted earlier In this memorandum, 22 r toy 22, 1946 Mr. Miller prepared a statement of East Helena and Tooele bullion refining costs April, 1946 and year to date. 23 , toy 24, 1946 j. v-'b The bullion metal recovery statement for 1940 to 1945 inclusive was prepared shoving that the metal recoveries over and above, vas assumed and the cost sheets could safely be used for future metal recoveries. 24 This statement later became the basis of the state- menta which were givon to Mr. Case and Mr. Laist in Hew York on May 24tb. W1 fi. By-Frumomd' ucmt<s '+ April 11, 1946 i:v *5> A further study led Mr. Lalat to the conclusion that the major-portion of East Chicago refining costa vas due to the treatment of the by-products. In average bullion, the by-products represent approximately 10% of the; veigbt of the bullion treated. A large part of the by-products cost was incurred in the residue and blast furnace treatment. It vas therefore deemsd advisable to compare the coat of treating these by- 25 products at Omaha or Tooele instead of East Chicago. April 11, 1946 April 85, 1946 April 86, 1946 ft- IS. Ksy 80, 1946 Mr, Bowman telephoned Mr. Johnson at Mr. Laist's . office in New York, the figures showing the savings ' to be realized by treatment of the by-product* at y Tooele as compared with sale of '.by-products to ; American Smelting and Refining Company at Omaha. These figures Indicated that Fast Chicago was spend ing $8.10 per ton for the treatment of its by-pro ducts. This memorandum later became the basis of a decision to discontinue the treatment of by-products at Fast Chicago, and ship them either to Omaha or Too ele. Instructions were Issued to complete treatment of all by-products at East Chicago as soon as possible to reduce the organization to a staff that could be Jus tified on the basis of a limited operation of ths dt- sllverizstlon kettles, softening end molding of re fined lead and the retort and cupel operations, It was also arranged to have the Omaha plant of the American Smelting and Refining Company offer terms for treatment of the lead refinery by-products from East Chicago because of the possible freight saving by shipment to Omaha as compared to shipment to Tooele. The original negotiations with Omaha vers conducted between the East Chicago staff and the Omaha staff, l.ater the Raw York office handled the negotiations. It was agreed that seme of the by products which had accumulated at East Chicago might be sold to Omaha, such as the bagheuse dust which would be removed from the .bsghouse and flues when the final residue furnace and blast furnace run was completed. ' Mr, StockdalQ prepared certain figures showing a comparison of the treatment of East Chicago by- 26 products revised according to Mr. Young's letter to Mr. Laist of April ?0, 1946. The calculations indicated that there would be a saving of approxima tely $100,000 per year by treating the by-products at Tooele, after allowing for the freight charges for the by-products to Tooele and the freight on the bullion produced by the treatment of the by-products. It was therefore decided' to discontinue the treatment of the by-products at East Chicago and begin storing them for shipment to Tooele. A statement was: prepared under the heading "Treatment of By-Products" basis 39,600 tons of bullion refined 27 .based on treatment at East Chicago, and the shipment of by-products to Omaha and Tooele. This comparison of treatment costs was prepared by using the depart- 10 \ a'* *v- it '. . i \ v. !* ; * 1 U! toy 23, 1946 fjt toy 23, 1946 \0S Ex. Iq, mental cost at East Chicago without reference to the "Cost per Unit of Impurity Factors These calculations show that Fast Chicago could treat the by-products for $3.33 per ton as compared to a cost of $4.45 per ton by shipment toi Tooele and Omaha. ? Mr. Johnson prepared some bismuth calculations of the income to Anaconda if bismuth vere refined by the vay of Omaha and by the process st Fast Chicago. The figures indicated that $175,500 vas the income through Omaha refining the bismuth as compared to $534,300 through Fast Chicago treatment. 28 Discussed with Hr. Case rearrangement of the figures vhich wore brought to Eev York to show the differ ence in metal payments for lead, silver and gold. 29 B. L. Sackett and S. V. Btockdale submitted to Mr. Laist the estimated construction and operation coat for a proposed Farket Process plant at Tooele, 30 toy 24, 1946 Gave Mr. Case and Mr. I.a 1st a statement of the analysis of the different natal payments for lead, silver and gold, bismuth and antimony in favor of refining at Fast Chicago. 3. Pigment Department I',. January 1, 1946 Mr. Bowman prepared a shutdown expense for the refin ery, in anticipation that the refinery might be shut down. Information! In connection with overhead costs 31 at Fast Chicago was studied in case the refinery was shut down and the pigment plant operated. e' toy 3 to toy 15, 1946 It had been evident in our earlier" studies of the lead refinery operations at Fa at Chicago that the pigment plant operations had an important bearing on the lead refining costs and the lead refining ex penses had an important part in determining the cost of operations of the pigment plant. In the analysis of overhead costts that were; made early in 1946, it had been concluded that if the lead refinery vere shut down the pigment plant would be faced with a rather precarious existence because of the relatively large plant and the aquipment that would have to he main tained in part, at *least, for uee by the pigment plant. During the war years, the pigment plant had been handi capped by.OPA restrictions on prices, the high labor costs and other veil known elements such as WFB and CPA restrictions on the use of zino and lead for manu facturing pigments. lit was concluded that if the lead refining operations were discontinued at East Chicago, It vould be inadvisable to operate the pigment plants on any satisfactory basis, even though they could justify their operation for a period of several years SB S3EK3CraOT3HSrl8!rap3Bp **7 16# 1946 Mj 17, 1946 ; *7 18, 1946 I- H7 15, 1946 Kk. Is* In the immediate future and later might prove to be attractive enterprises as Individual buslneeBoe, One of the Important elements. .In a study of this kind was the value of the -white lead plant to the Anaconda ; C|| Copper Mining Company for the recovery and refining of blBKuth from Anaconda Booster Residue. This fact had been recognised since 19555 as one of the most Import ant reasons for continuation of the Hast Chicago opsr- ations. In the negotiations for treatment of Tooels \z bullion at Omaha, this question became a major problem ,..-f because of the extremely low cost of producing refined ^ bismuth at Hast Chicago as compered to any methods ' that were used and could be used at Omaha. - Mr. Knox prepared a memorandum to Mr. Johnson showing the comparative profit and loss per month when the rinc oxide plant vas operated to produce 924 tons and 1,440 tons of muffle oxide respectively, per month. 32 These studies were made In anticipation of a discussion of the pigment plant operation at Hast Chicago in Hew York In May, 1946. . Mr. Knox prepared some figures for Mr. Johnson on pig ment prices needed to maintain the same margins for metal prices Increased by 1.65s! rer pound, which was 33 the anticipated Increase for lead and sine If OFA were discontinued; as of June 50, 1946. Mr. Knox prepared a memorandum to Mr. Johnson out lining the white lead plant operating estimate and the time required to treat high and medium bismuth bullion available at Hast Chicago and Tooels as of this date. This Information was In. connection with the proposed shutdown of the white lead plant. 34 4. Submission of Hew Costs A new set of estimated costs for refining bullion at East Chicago was presented to the Hew York office. Those figures were not considered Important because In the other discussions of the problems relating to ths operation of the Fast Chicago plant. It had been fairly well decided that the use of the plant at East Chicago for Aneconda's purposes had been fulfilled. In addi tion, the difficulties at Tooele In handling the higher bismuth from the Darwin Mine were costing them <30,000 per year and In discussions wjth the Omaha representa- tlvesarrangements had been developed whereby Tooele could operate without due concern about the bismuth content of Tooele bullion shipped to Omaha. About this -time it had practically been decided to discontinue operations at Fast Chicago. - i.'i- I- .. 1 **='?: " " ':' '? e.'-> t1,;* ii. v,= -m - III. SHUT-DOWH FBOCEDOTE K*# Bw: , f; ' l&V'-i fflsjr 15, 1946 ^**4SpV Uj 22, 1946 > S- : June 1, 1946 June SO, 1946 1. General Discussions, studies and events at this stage vers approaching a decision which seeded to crystallize as definitely unfavorable for the Fast Chicago plant. Decision made at Rev York to close the Fast Chicago plant. Instructions were issued to begin shutting dovn all operations at Fast Chicago. At the same time, instructions vere Issued to Tooele to store any bullion they had on hand for later ship ment to Omaha. It vss understood that the main operations of desil verizing and treatment of the silver-hearing by products should be completed In the sliver room as soon as possible. By-products from the material on hand should be treated In the residue furnace and subsequently In the blast furnace; the residue bullion to be shipped to Omaha. The balance of the by-products left In any depart ment vere then to he shipped either to Tooele, Omaha or disposed of elsevhere to the best advantage in order to cease operations In the lead refinery as soon as possible. Instructions were Issued to advise the trade that the International Smelting and Refining Company vas to discontinue the operation of the pigment plant at East Chicago and that they vere going out of the pigment business as soon as the stocks of pigments at East Chicago and In varehouses had been sold. The salesmen vere Instructed to advise the customers that the International Smelting and Refining Company would do the best It could toward taking care of their requirements but that very little production would be available to take care of them beyond July. Letters were sent to the mired metal, white lead and zinc bride customers notifying them that International vas shutting down the Fast Chicago plant and perman ently going out of the business of producing these products. Similar letters sent to the lead-in-oll customers 1-- .: '':VA * ' .='> ' -V :' = * - ' %' ' ' '-lO ^.................. S * V: PNYCCCOC.-j^O', Wf April 12, 19^6 June 17, 1946 Jure 18, 1946 June 19, 1946 June 24, 1946 July 4, 1946 July 6, 1946 July 11, 1946 July 12, 1946 July 23, 1946 August 2, 1946 August 9, 1946 August 21, 1946 Kay 31* 1946 June 3, 1946 .. ' 2. Lead RefincrT; Last copper bearing lead vas produced. Desilverizing kettles shut down. Chlorination machine shut down. Last of the low bismuth common lead was molded. Last of the high bismuth common lead was molded. Fetorto were shut down. Residue furnace shut down. Caulking lead was last molded. The last anodes were molded for the white lead. Cupels were shut down. The last production of F-3 alloy for Anaconda Wire and Cable was molded. Blast furnace run vas ended. The last antlmonlsl lead was molded. The Bismuth Plant vas shut down and all bismuth produced. The baghouse furnace was shut down which placed all departments cn a shut-down basis within the lead refining unit. __ White Lead Request was made of Washington to permit the use of the remainder of the lead quota, available for the production of white lead to the International Smelting and Refining Company, tpfce used up as soon as possible in order to spoed up the shutting down of the plant. ~ Authority was received from Washington to use the entire quota of lead as soon as possible. Operations at the white lead plant were increased to capacity. The Lowden Dryer vas shut dovnat 3:30 P.M. The Raymond Mill vas shut dovn. Last lot produced - Lot 6-223. 4. 7Inc Oxldo It vas decided to operate all the Muffle Furnaces at the plant ae soon as possible In order to com plete treatment of the scrap on hand in the most economical manner and In the shortest period of time. Four Muffle Furnaces vere operated during most of June and until early July. -#1 Muffle Furnace shut dovn. #2 Muffle Furnace shut dovn. The Packer vas shut dovn. #3 and #4 Muffle Furnaces vere shut dovn after treating the residue metal and producing Frlme Vostern Pine from such treatment. The residue metal vas sold to the Inland Metal Company, Fast Chicago. It should be noted that in the late operations on l and #2 Muffle Furnaces both furnaces vere pro ducing U.S.P. oxide and high grade zinc. The last operation on the American Block vas March 15, 1945- . It should also be noted that the last operation of the French Furnace vas completed on torch 31 > 1945. '. - \-y MM . ,,v >cco^ii t-; . . - > . C' *= vi l!liijllllliiBlllll!laii5iS!aillllMilililBllalilllBillSSiliiS!!llliliiliSlilll!lllll!l !l!l |i|l|lll^ :< -t '`i * ,\ S'-l- - - ^ *, X . ' 1 . *' *. :-*j *v-, ' -V :. :.><' "-^r ' J? f. --v.';.,V>> PNYC00006ti07 v:y >''' ,* 'V>* > ) niili as*-; 1. lead Peflnery ' Jolj 27, 1946 The last common lead was shipped. Agust 22, 1946 All antimonisl lead was shipped out. g/fcpt, 23, 1946 Ib?` ' S?hpt.. 30, 1946 &. f Sept. 30, 1946 The last by-products were shipped to Grabs. The last of the by-products were shipped to Tooele. The filial clean-up of all metal in the plant was made to the tf.S.S. Company. 2. flpnonts and Mixed Metals y, A. East Chicago 'f Juno 1 I-: Lead-in-011 > Mixed Metals White Lead Dry > Zinc Oxide 104,310 976,16? 262,250 1,126,350 July 1 3-3,555 1,000,078 1,246,300 1,646,800 1946 Aug. 1 245,259 086,982 394,050 573,950 Sept. 1 - 252,350 Oct 1 -- " 6. Warehouses Lead-in-Oil White Lead Dry Zinc Oxide 82,<'33 215,550 369,250 45,958 109,350 269,300 11,461 247,550 446,300 _ - 51,600 - - Mixed Metals not carried in outlying warehouses. Dates warehouse stocks wore liquidated: Akron Boston Erocklyn Indianapolis Jeannette Lon Angeles Louisville Minneapolis Hewark Philadelphia Portland San Francisco Seattle 7/24/46 8/19/46 8/29/46 7/22/46 7/6/46 9/16/46 7/30/46 7/10/46 9/3/46 8/23/46 8/28/46 9/16/46 8/12/46 m Stora Boora 1 ?V: CuriRg July, a complete inventory vas taken of the storeToaa supply accounts for purpose of giving our other plants a chance to select any surplus Iteras that arc not on the market, also for the purpose of establishing a value for sale vlth the property. |JV This listing Included over, four thousand items with a total of approximately $140,000.00. This was not limited to n book inven tory but listed all material and supplies that had been charged to operations and found in the storeroom with charge-out tickets. All of List 2, containing over nine hundred bolt and screw items were counted and totaled ?2,185*92 All of List 10, containing new equip ment, amount $3,471.54, was not on our books but included in the sale of the property. The plant was combed closely for such items. , All undelivered material on open purchase orders vas can celled. Rome of the material vas in process of fabrication and could not be cancelled. The total loss on such items will aggregate not over $4,000.00. All miscellaneous material and supplies. Including all equipment that has been received since the shut-down, have been purchased by The Fagle Picher Company. All such Items, up to September 1st, were included in Sheet 9 in tho general sale. All items, after September 1st, will be adjusted in our accounting pro cedure of debits end credits during the final accounting. 4, Miscellaneous Affairs The accounts receivable, on September 30th, vas $23,518.96 and we expect to collect all vlth no bad debt loss. There is a re serve of over $45,000.00 for bad debt losses. All circular mail addressed to employees of the International Smelting and Refining Company, as well as to the Company, is being re turned to- the sender, stamped 'Please remove individual and company name from your mailing list, Flisnfc is closed". The volume of mail vas 1,180 items the first week and is still of considerable quantity. All first-class mail is forwarded. Cancellations of contracts, agreements, permits and sub scriptions have been in daily progress. These include the utility, water, telephone, laundry, vIndov~cleaning, oxygen and acetylene, switching and weighing. State of Indiana on Gross Income Tax, with holding tax, personal and real estate tax. State of Indiana contribution balance for unemployment com pensation final accounting -will take place when all claims are paid. This balance, around $93,000.00 will be reduced by unemployment claims which should not! exceed ISfOOO.00. The refund will not include any money allocated to the rJFcol Fund". These figures are available in the Hew York Office. . - Vj, it. Ircosury Eocsrtrf?nt permit for specially denatured alcohol vas full of red tape- but'vns-'finally disposed of and bond cancelled. Industrial'Board of Indiana notice and arrangement for a continuation of carrying- our - own risk without Insurance until all liability cIn Isa are paid. Ihora are several compensation cases pending that have been In progress of final settlcnont. 3ur reserve for this risk Is downto fl4,d04.54 but should be enough to take care of unsettled claims. Much tire is consumed in these conferences and It will be weeks before ell cases are .cleared. Swo hernia operations ars pending. m ! Acccuntlr.n July 15. 1946 August 1, 1946 Karlen Banck, comptor'ster operator, and Dorothy Awe, ledger clerk, were laid off. Both young girls, with less than a year's service. Aden Miller, metallurgical accountant, employed in 19?5, and Omar Hager, accountant for the vhite lead plant, employed in 1936, accepted positions with the .".Fcriccn Smelting and Fefining Company at Halting, Indiana;, at no loss In salary. V ill lass F.oos, junior . traffic clerk, accepted a posi tion in tbo Traffic Department of the Superheater Company at a loos in salary. He was recommended to the Fagle Fisher Company and they have hired him as senior traffic clerk at more salary than wo paid. Varseta Leraley, stenographer and storeroom clerk, employed in 127 left to ecce-pt a position with Carnegie Illinois Steel Company, South Chicago. Alice Davis, secretary tp F. F. Sfcolte, left to accept a position with an insurance company at an increase in salary. Florence Frzespclevskl, payroll machine operator, left to accept a stellar position with the Sinclair Defining Company, Fast Chicago August 15, 1946 Helen Vojvoda, bookkeeping machine operator, left to take ft position doing stellar work with the Sin clair Fefining Company at no reduction in pay. Foy F. FbIIowcs, secondary metals accountant, em ployed in 1327> left to accept a position in the purchasing department of the General American Transportation Corporation, Fast Chicago. September 1, 1946 J. M. Asher, paymaster, employed in 1918, left ' service to go into business. He has opened an em ployment office in Hammond. Helen Lukeran, FBX operator, employed in 1935, accepted similar position with the Sinclair Fefin ing Company at a better salary. F. V, Melon, invoice clerk, employed in 19?9, left' to accept position with the Calumet Iron end Supply Company, Fast Chicago. Lenore Shaw, typist,employed in 1944, was released. She had several offers. iiligllilHIlM *. - : - - 4- \:S ' %:> A. 1 ** = ~ --"r> . > f'j, 'v pNFcooooeei^ Sept. 15, 194-6 H. G. J'ind, credit man, formerly metallurgical bookkeeper, employed in 1914, left to accept position es credit ir*tn for a large furniture ho- e In Chicago. Li'Urn Findiing, typist, employed In 1933, left to accept similar position ulth the f. D. larmsn Company, fast Chicago. The left th lanrsn Company and returned October 7th to help out until released for the Fagle richer Company. Bess rlotIs, typist, employed in 1944, left to accept any one of several offers. I. F. Jones, accountant for Lead Fefining Depart ment, employed since 19?3, left to accept a posi tion with a small concern in Gar?. Be declined an offer by the Fqgle Picber Company. Stncie Anoskey> consignment clerk, employed Kay, 1323 left for an extended vacation. Be has an. attrretive offer from the Metal and Thermit Cor poration. A, l-'ill5.ers, senior traffic clerk, finished his work at the plant and vats transferred to Rev fork pension roll. V. F. Bines, storekeeper, employed in 3918, vent on Fagle Picher pay roll and has deferred his pen sion arrangement. L. Ai Kilns, chief dork, employed 3916, who vill leave Rovember 1st to accept a position with the Eaiser-Frsser Company in Fast Chicago. He decliried an offer by the Fagle Picher Company. It. J, Dedelow, accountant for the Fine Oxide De partment, employed in 13?3, vill leave about Rovember 15th for another position. He declined an offer by the Fagle Ficber Company. t.V- Km; '.-.l -.V o'-"-'St ^ '|jj Uj 15, 1946 Jime 1, 1946 June 19, 1346 2. Operating ' .. A eonfer-oee vas held at tbe Rev York office relative to the problem of liquidation of the fast Chicago organization. It vas recognized that Mnj of the hourly employ ees vould have no difficulty in obtaining other jobs because of the continued hcute lebor shortages In the area. " The question of severance allovar.ee for the older employees vas discussed and special studies vere made freon a number of angles. A few of the Older employees vlth many years' service vere considered for pensions. Steps vere taken by Mr. R. J. lavsen to notify tbe employees that every effort vould be made to help them locate positions or jobs. The personnel de partment at Fast Cfcicogo vpuld contact all employers In the area to ascertain their needs for help of all kirds and vork vith them to help locate our Inter national employees in satisfactory positions or jobs.. It should be mentioned that a speclsl arrangement vas macie vith the Federated Metals Flvtsion of the American Smelting and Refining Company at Vhltlrg, Indiana for a meeting at: vhicb the understanding vas reached that the personnel departments of the two plants vould vork together to try to locate as many, of International employees as possible vith their organization. The accounting department employees vere assisted in their efforts in locating positions through the efforts of Mr. T. E. Etolte and Mr. i. A. Milne as veil as through the activities of the personnel department. The employees were advised that tvo veeks' notice vould be given them bpfore Ifchey vould be released from the International roll. They vere requested to remain on the job until the work necessary to place the plant on a shut-dovn basis could be com pleted. Rotice posted stating that the zinc oxide depart ment furnaces vould cease operating July 7, 1946. After that date some men vould be employed to get tho plant on a shut-dovn basis, maintain it'on that basis and to clean up. v* * ' . .8 1 :' 1 `*V ... - , V - ' * aiiiBi , ` >v " > ... *? 1 '* : Tv Jus* i% 19^6 Jue* 25, 13*fc r?tlc<* posted in whits lead depertrcRt statirg tt:t the call rcc would cases operating July 6, 13^6 . Sot Ire pcsted stating that after July 15, 1?$5 the lend rvflrery and bismuth plants vculd be on s dnit- down basis. fore pen would be ep.pleyed- to trairtein a shut-down basis and to clean up. The notice also stated that th* blast furnace run would be completed afccut July 15 th. Jinny sr-erbers of the staff spent a prest deal of tlwe caking contacts and foclilcw*ps for and suggestlens to the employees, both salaried and hourly, ttoo-, help then-, locate satisfactory positions. A rninber of Ihea vers offered transfer* to ether p_ lants cf the Anaconda Cos- pany but with one or 'two exceptions' these sere rot acceppttced. ' A number of special problems vis encountered, particularly in the salaried group- whose age ss between 50 and 0. This group v*s difficult to handle because they vere advised In irony cases that younger nen vera desired, fpeciel cooperation vlth the Rev Y^rb office was help ful for several cf these employees. Hth their help they sere cent to different esctlons of the country for personal Interviews vlth pros pective employers, Severance* allowances and vacation pay. If due, Vera given all employees who vcr.a entitled to these privileges. The payment of severance. nliowar.ee* vac handled on sn Individual basts. Vhila nary questions vfcre ashed concerning the basis on vblch severance ray vas . allotted, co definite in form t ion vas open the erployeen. Approx Irstely $6J,C>D0 vss spent to give employees severance allowances. The employees to be pensioned, few in- number, vers pensioned eithear when their services become no longer necessary or when the plant was purchased on October 1, 19$< by the Tngle richer Company. In retrospect It Is gratifying to resllrs that practically all of the former International fediting and Refining C'-rpeny erpleyaee have located satisfactory positions. In many cases much more reruncratlvs positions than they formerly held. - On October 1, i^S *11 employees of the International fr.altlng and Refining Company, Test Chicago, were notified that they were release: from the Internatlcnnl Smelting and Refining Cormanys payroll with the exception of a few employees`in th* accounting depsrtmnt who vere needed to close out the accounts'In the ^est Chicago office and the chemist* who vere needed in the general laboratory to complete the necessary aes3 required for settlement purposes on the ratals and materials shipped out of fast Chicago. ' .-: Tlpvr1 - ....>3ihV:?i. .If-1- ; V;ls"K*e "b I *\. * -ax'..:: n^v'-'V'. **> Iv.-* *>"- V, -V v->. *-b o- ? -- 74 f'NYCOCOOeSll h M. ,'.r<fes On October 1st arrangement* were also mde for son* of the former International Smelting and Refining Company employees to be employed by the Eagle PI oh er Company. Special arrangements were atds to hare this group of salaried employees receive group Insurance privileges for one year beginning Uovejnber 1, 1946. Several of the employees who had otherwise been considered for pension by the International Smelting and Refining Company were franted e leave of absence In order to be employed by the Faple Picher oapany for an indefinite period, perhaps three to five years vith the understanding that at the termination of this employment by tbe Fagle llcher Company, they would be considered for the same privileges that otherwise night have been extended to them by the International Fsseltlng and Refining Company. 3. Pales Personnel Released 7/15/56 im m 8/15/46 8/15/46 li. F. Howard G. H. Banach C. U. Brownell F. G. Frgler -Ann Metlkosh Ioretta Pass G. Street 5Tsat Chicago do do do do do do G. L. KcFory V. J. Murray !7ev York do - Personnel Transferred 8/31/46 8/31/46 9/20/46 9/20/46 L. H. Donaldson l'orls McKeon F. H. Buriesa Helen Qhr Transferred to Advertising Department Transferred to Office at 25 Broadway Transferred from Fast Chicago to Chicago Transferred from Fast Chicago to Chicago - ' ' t 4* . - - _ * . . . ai- V ..,VV Vs A t1- A 7^ ' v . * c m -*'-r m ' i r.YL^"'1 u Ej;"- "VI. HEGOTIATIOISS VIYH IK3Sr?CirV~ FUBCHASFES OF FLAHT '( 1 American "Inc, Lead end Smelting July 5, 1946 American "Inc, Lead end Smelting Company represen tatives, Hr. Fide and Hr. Ammon, Visited the plant to ascertain the possible value for purchase by the American Fine, Lead and Smelting Company. 2. Calumet Iron & Supply and U. 5. Seduction August 19, 1946 IT. p. reduction Company representatives visited the plant. Mr. F. A. Bergman, President, and Dr. M. L. Kaufman, Vice Fresldent, vere escorted through the plant by Mr. J. F. Clark and Mr. 0. F. Johnson August 29, 1946 A group of representatives of the Calumet Tpon and Supply Company and the IT. S. Seduction Company In spected the plant for the purpose of ascertaining its value ulth the possibility of Its purchase. Hr. Harold Weinstein, Secretary-Treasurer, Calumet Iron and Supply Company, vas spokesman, Mr, Meyer Veinsteln, President, Calumet Iron and Supply Com pany, Hr, Edvard Bergmcn, President of the U. 9. reduction Company end Dr. H. L. Kaufman, Vice Fresldent, U. S. Reduction Company, Mr. A. A. Svart?, Allied Finishing and Specialties Company, Chicago, Illinois. Sept. 6, 1946 Copy of plant insurance map and general vrite-up of the different departments of the plant vere sent to Hr:. Harold 'Weinstein by: Mr. E. 0. Case. 5 Chromium Mining and Smelting , August 10, 1946 . As soon as these gentlemen sav the plant, they decided It vas too large a plant for their purposes. 4. Eagle-Flcher July 27, 1946 . The Fagle-Ficher representatives visited the plant. They vere Hr. R, L; Rallcvs, Assistant to the Presi dent, Mr, B. M. O'Hsrra, Metallurgical Engineer, Mr. J. R. Crenshav, Superintendent of Flants, Pigcent Division, Hr. G. IT, Hicks, Chief Fnglneer and Hr. Albert Flsea, Superintendent of Cincinnati White Lead Plant. Mr. O'Harra remained at the plant until August 1st. August 1, 1946 '. Fogle richer Company representative, Mr. O'Harra, left to return to Cincinnati vith his report of the Inspection of the Fast Chicago operations and costs as veil as the plant's appraisal. " . i Aojogfe 27, 1346 The. F-aglo ?ichc? Company representatives, Mr. Paul Hamilton, Manager of the Fine Oxide Department at Hillsboro, Illinois, Mr. F. Clearr^n, Plant Manager cf the Galena, Kansas plant, Mr. H. F. Lambert, Manager of the Argo, Illinois plant, visited the plant In order to become acquainted with the plant equipment end processes used in Fast Chicago, 5. employees of International Snelting & Refining June 1*1, 1946 A group of employees, the spokesmen elected vas Mr. r.. w. Ctockdnle, advised that they would de finitely bo interested in the purchase of the plant - that they represented capital who h->d sufficient money to purchase and operate thei plant. The employees present at this meeting vers: S. W. ftockdale, V. V, Fhrcpshire, S~. H. Sachs, J. J. HcKonn3, B. J. lavson and J. F. Clark. July 8, 1946 Iho above group of employees advised that their backers were the Calumet Iron end Supply Company and the U. s. reduction Company of Fast Chicago. 6, Gardiner Metal June 21, 1946 representatives of the Gardiner Metal Company, Chicago, Illinois inquired about the possibility of purchasing the plant, representatives were Mr. Bert Gardiner and Mr. Hurray. They requested that permission be granted Mr, Bart of Kart-Vhetston Company, industrial real estate firm, to Inspect the plant for the purpose of advising the Gardiner Metal Company as to its value for their purpose. June 26, 1946 Mr. Bert Gardiner telephoned that the anticipated visit of Mr. Bart of Hart-Vhetston would have to be postponed until the week beginning July 8th. August 28, 1946 Gardiner Metal Company, Hr. Bert Gardiner, advised that he would not be able to get Hr. Hart to visit the plant until later. Sept. 10, 1946 Gardiner Metal Company representative. Hr. Bert Gardiner, again advised he wanted to come out with Mr. Hart of Hart-Vhetston to Inspect the plant. He also Inquired If the price had been set at which the plant would be sold. 7. - Goldsmith Brothers Smelting h Refining July 16, 19^6 Goldsmith Brothers Smelting and Refining Company representative, Mr. Mfelvln Goldsmith, visited the Nt-.viasi'fc wv;>. plant end hored- that some arrangement might have been made with the -International Smelting and Kefininp Company to let him operate the plant of the International Smelting and Refining Company, East Chicago, before it was decided to close down. In connection with his silver operations st Chicago he would have liked to have had a contract to refine Tooele and fast Helena bullion. J-y S. Metal & Thermit June 5, 1946 Metal and Thermit Corporation, Mr. V. f. Llenhardt, Indicated possible interest in acquisition of the white lead plant and some arrangement for hiring its trained personnel. July 10, 1946 Metal end Thermit representatives, Mr. Wilbur Midnight, Manager, end Mr. V. S. Llenhardt, Superintendent, spent port of the day with Hr. Knox and Hr. Johnson inspecting the possibilities of Metal and Thermit purchasing the plant with the understanding that the technical staff vould be available for its operation. July 13, 1946 Metal and. Thermit Corporation representatives visited and inspected the plant, namely. Hr. Cjp.lth, Vice President, Mr.Wilbur Midnight, Manager of the fast Chicago Metal and Thermit Flant, Hr. 1". 2. Llenhardt, Superintendent of their Fast Chicago Plant. They vers particularly interested In the possible land acquisition for expansion purposes for their plant and also the technical advantages of the Sperry Pro cess as a means of handling tin-lead-antimony drosses. August 14, 1946 Metal and Thermit expressed an interest in land and outlet for some products from this plant in case seme one takes it over. 9. National Lead Sept. 11, 1946 Rational Lead Company representatives, Mr. Morris P. Kirk and Mr. Rupert, Assistant to Mr. Carroll. They were very much interested In the muffle furnaces and the rotary furnace for smelting battery plates. 10. Nicholson, Porter and List June 28, 1946 Richolscn, Porter and List through Mr. Leo M. RlcholsorS, President, requested permission to look over the property with the hope of helping dispose of the plant. - ,4f| ; = ' -r- .*v. . ' =, T&Sfv' : .--V>*-?,vk! PNYC00006o20 ,4 July 29, 19*6 Perrcscntr.tlvos cf Nicholson, forter and List In- spsotcd, tJ*.e plant. Iheaa rpresnttires Included fir. Carl P. V'ilJrinr,, industrial Agent for the Penney lv'nlc. r?,llrop-d, Kr. Forter, Hr. 1.1 rt and the cither nerhers cf the firja of vhich Hr. Nicholson Is president. - =smf!ita!sa5iS3wiarFii < VII, gAir OF ri-AHT msm ' vents Juju 19, I9!i Jus* 2$, 1$Ha .i . October 1, 19^6 fast Cbicojo requested to prepare description of plant o.-.i equlysrr.t for study by prospective pur chasers. ftp; reiftf.l of pl"nt st^rto-A by Mr. Eoschen of Viltur Jorr'-n office. ___ fsle to Tap.lc-f tebor fihe pJr.nt vns pjrefcseed by tbs Pegle Ficher Cojs-pany en^l they tsaJs possession on this date. ;v'.