POLITICAL AND COMMERCIAL CONTROL
The magnesite deposits that play a notable part in the world’s economy are situated in Canada, United States, Austria-Hungary, and Greece.
United States.
—The principal magnesite deposits in the State of Washington are owned by the Northwest Magnesite Co., Spokane, Wash.; Valley Magnesite Co., Spokane, Wash.; and American Mineral Production Co., Chicago, Ill. The Northwest Magnesite Co. is the largest producer in the Washington field and probably has made the largest investment. The American Mineral Production Co. has a plant at Valley, Wash.; the Valley Magnesite Co. has a deposit near Valley, but is not operating it.
The principal producers of magnesite in California in the summer of 1918 were the Tulare Mining Co., with a mine near Porterville; Porterville Magnesite Co. of California, with mine at Porterville; Western Magnesite Development Co., with a mine at Red Mountain; and Frank R. Sweasy, working the White Rock mine, Pope Valley, Napa County.
Austria.
—The Veitscher Magnesite Co., of Vienna, and the Magnesite Co., Ltd., of Budapest, formed a combination or cartel, with the understanding or agreement that all the sales of magnesite outside of Austria and Hungary had to be made through Carl Spater & Co., a German firm in Coblenz, Germany. The firm of Carl Spater & Co. formerly owned the works of the Veitscher Magnesite Co., but sold out and obtained the perpetual selling agency when the stock company was formed. The Harbison-Walker Refractories Co., Pittsburgh, Penn., is said to have been the American representative of Spater & Co.
The Austro-American Magnesite Co., whose deposit and works at Radenthein, Austria, represent an investment of $1,800,000, is owned by Americans. The entire stock is absolutely controlled by the principal stockholders of the American Refractories Co., or was so controlled before the war. The Austro-American Magnesite Co., it is claimed, was doing virtually 95 per cent. of the magnesite business in England before the war, and about 65 to 70 per cent. of the business in the United States. This company has a capacity of 150,000 tons of calcined magnesite a year.
When it was found that Carl Spater & Co., who handle both magnesite and magnesite brick made by the Veitscher Magnesite Co. and the Magnesite Co., Ltd., would not sell magnesite to the English refractory brick makers, the Austro-American Magnesite Co. formed a selling company in England, called the Anglo-Austrian Magnesite Co., of Sheffield, England. The English company sold magnesite from the Austro-American Magnesite Co. works at Radenthein, Austria, to all the refractory brick manufacturers of England, and virtually took all the English trade from the Germans.
The General Magnesite Co., of Budapest, has a magnesite deposit and plant at Hizonvich (Hisnyoviz?), Hungary. The stock of this company is believed to be owned principally by stockholders of the General Refractories Co., 111 Broadway, New York. The balance of the stock, believed to be about 40 per cent., is owned by some Hungarians of Budapest, represented by Mr. Gunst, of Budapest, president of the company.