New-York tribune., 1882-04-23
4 MINING BUBBLE IN A COLLEGE TOWN.

Correspondence Of The Springfield Mass) Republican,
Amherst mourns for her mining stock divi-
dcnds and refuses 10 be cOmfortcd The history OF the
community's investment N mining stocks, under the
management OF Colonel William s. Clark, late president
DAY and New. England Now that the bubble has burst
the whole affair forcby reminds the Oldest residents OF
multcaulis expected TO build churches aud make
everybody in Amherst rich OF coursc your readers
need no introduction TO Colonel Clark. the prime mover
in all the schemes which have kept the town at fever
heat for the last eighteen months have no wish to DO
lancuage OF a member of the Amherst College faculty
concerning him. After admitting that the Colonel hai
great confidence III the mines, lie said Bat we all
know how he managed the agricultural colegeIwe
know about the floating college fzlleand e. ne haS
right home here and sold his friends It's 100 BAD
too bad But he Is such wonderfully maghetic
man"
japanese agricultural coee Colonel Clark visited va
Western mines and of his neighbors say tha
money 10 be made in legitimate mining bu ealS hi ~
1850 was report that he had mOrtgaSeh ms
college t. gct money with which 10 bay mining stochs
And began TO spread schemes OF ,5nrpisslns
cci wac added 10 another until. as rumor has II, the
Colonel WAS wont remark on street corners " an
S33 900 900 capital :" Bank presidents treasrers "t
large educational funds, college presidents ana lrOes
men, students widows seTVanglrs IN snort every class
invited TO take hand in tne gteng game. un ~
the community fairly camOrcd for stock certificates ana
!. Is i, ndcr % tfa sindoyy of The sanctuary
Inc 10 cents month dividends stopped very suddenly
in 1nldsimmcr for various alleged reasons. mill
nnnst he builf a large tax bl on a certain mill must
met on given day. milling machinery did not work as
Wns expected, etc, until hope deferred began 10 maze
t,o h.sr nj irxesors sick But the mana acr promised
that the dividends should he resumed early IN the ia
and they would then be 20 cents instead Oi 10 but WIN
IN, vcs,ou Of Two j-cent d,vid nds on StOrmOnt dur
inc the Ia no mining ock money lned the pockets
any Amherst hoGc for ten long anu weary Eohis
As consequence POO shares OF siarrGroye were sod
YESTERDAY for 81 The town valuation Will probably 70
down where il was IN 1885, aud the lax rdtS IOt Va
rous GAUGES is likely 10 jump so. There L. small
party among stockholders in the various dineiehi
mines WHO profess to .evc that al hope not os and
that they WIN yej amount to something. All sOi.s
of opii0ns prevail in town as Colonel Claks motives.
Men 0f etiTy good standin- lost ral III Colonel
Clark bul the majority Of Amherst people dissent LON
the ioa thai he has not dealt honestly, believing tat
Colonel Clark had abundant tath Ia his scheme III the
beginning just Colonel seller. appeared to have III hs
projects aiinoue charitable OF them are forced
TO remark There has been some tall lying somewhere
From an cdor5ol Springfield LNGss) Republican,.
The uncOycr1Dg Of the Amherst m1lng stock specua-
tions reveals humiatng spectacle 1t Is seldom even
iu tlesc dals daring speculation, that whole
munIty throws itself into the dice DoH especaLy com
munity which contains score or more OF eIegJ men,
national reputation as educators OF yooIn Ihe OUTSIDE
world will ply them ntte Ior h' hDty 'GsS cr sp
laid to people III Amherst VINO are too pOOl 10 pay
f1rr milk his because they cutced gltering bait,
the savings bank report that tie bIk Of ther Dusi-
ness has Unfinished which goes 10 shO" mat
lie peonle for the most part threw away merely their
snare cash something could DC spared without ac-
Eni vaI KIND of an example was this mad race after
lucre 10 ulace before hundreds OF young men
gathered there Tor the putting On Of nee afnoI Is IL
s,rancc tAat the III some OF the closing
lessons their last summer used to ply lresldent
seelye with questions to Low lar man Is morally
usihabc ia carrying Oh stock OpoTa!lOlsf OI course
the faculty assert tnat they put III their money ioI
permanent investment which Is very inherent 'n'hg
from buying Wall street stOCk9 on ma Sh bu thcy
put IN serious danaSe OF thcr hnuenccand are
IN measure responsible lOr the losses under wlch tne
mechanics anu servantglrls eroan And II tne DuDDc
had not burst they would sth be responsible 1Or IN
couraeing unwnolesome speculative tendencies that
receive stimulus ON every hand When they shOuld
have Wcd-cd the bars, thty ItJ lltlIl uOWn'