Business & Finance: Sufficiently Saline

“There is a gentleman,” observed the Wall Street Journal, cautiously, last week, “who heads a large salt company who also has salty tastes. On his estate in the outskirts of a Pennsylvania city he has built a large swimming pool, containing salt water. Every two weeks the water is renewed and two tons of salt are used to make the solution sufficiently saline. In the salt manufacturer’s house there is a salt water system, so that the benefits of synthetic ocean bathing may be enjoyed without leaving the privacy of one’s bathroom.”

Discreet, even reticent, the Wall Street Journal deceived no one who knows the coal mining district of Scranton, Pa., and neighboring, suburban Dalton. For as every Scrantonian knows, a major glory of Dalton is the large, old house (recently remodeled) of Salt Tycoon Mortimer B. Fuller. And as every saltman knows, the Fullers (Grandfather Edward L., Father

Mortimer B., Son Edward L.) have presided over the “biggest” International Salt Co. for a quarter of a century.

The two tons required each and every two weeks for Mortimer B. Fuller’s private ocean, 100 miles from the seashore, are the least of the drains on International Salt’s mines and evaporating plants. Next in order of unimportance is the production of table salt. Major uses of salt are found in the curing of hides, manufacture of soap, paper, ice cream.

Tense is the competition in the salt mining industry. Saltman Fuller saw net earnings fall from $507,339 in 1926 to $327,000 in 1927, to only $3,108 for the first six months of 1928. On the stock exchange, International Salt dropped from a high of 92 in 1923 to a low of 54⅛ in 1928. Lessened demand, competitive price cutting, are among apparent causes of depression.

*An error. Saltman Fuller has no salt water system in his home. He has a device, however, for softening hard water.