The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-08-29
From the DAILY Of Thursday,
HE LENA M. & r. COMPANY
what the President has to Say
About the Manage
ment and Sale Of
tho Alta Mon
tana.

The last issue of the New YORK
FINANCIAL and Mining Ne,vs con.
tanned q fierce attack upon the man.
egement of the Helena Mining and
reduction Company in which the sale
of the Alta Montana property to thai
company and its capitalization in the
new company at S 5000, 900, is de.
nounced as swindle and a fraud up
on the old stockholders. Meeting
Saml. I. Hauser, president of the
Helena Mining and Reduction Com.
pany, at the First National bank last
evening, a MINER reporter awaited
himself of the opportunity to inter.
view him Is fellows:
Reporter-Mr. Houser I notice the
Financial and Mining Meas has quite
an attack on your new cOmEa any?
MI. Hauser-What company is
that? Where is the paper pub
lished?
The reporter showed MI. Hauser
the article in question at which he
seemed greatly surprised.
Rep.-What can l say about the
management and sale of the Alta
Montana?
Mr.. HI know but little about
the management of that company. I
never had more than a nominal con.
nectiOn with it.
Rep.-This article alleges gross
Encouragement IN the part OF
the Alta Montana directors.
Mr.. H.-Well the board consisted
of Messrs Barnes, Wickes, Sheldon,
Robertson, Richardson, Snow and
others and l may say for them that
they did what 1 never knew 3 board
of directors to do in any other min
ing company: They advanced over
100000 of their personal funds to
carry the enterprise along and keep
its head above water.
Rep.-Was this money put up in
the shape of assessments on stock?
MI. H.-NO sir. It was advanced
to keep the thing gong. They were
the largest stockholders in the COM
pany, and had hopes of saving it
from wreck; but were finally COM
PEELED to sell in order to save Them
selves.
Rnp-Who were the purchasers?
Mr.. H.-The gentlemen who now
compose the Helena Mining and Re-
duction Company.
Rep-Are they the same gentle
men who composed the Alta Montana
directory?
Mr.. H.-Some of the old board are
IN the new company, but a large
amount of 2the Helena Mining aud
Reduction Company's stock has been
placed and a good many new men
are in it.
Rep.-Ain't the capitalization at
$4,000 600 a little excessive?
MI. H.-That depends entirely
upon the value of the property. The
best evidence of our confidence in the
value of our mines and works, is that
we have already invested between
$500, 600 and $500, 600 in the company,
and expect to invest considerable
more. We have contracted with the
Fort Scott Works for a $50 ton con-
centrator, secured the building of a
branch railroad TO the works, and
we hope to bring the property out.
Eep.-Why is the proposition made
to old stockholders o give them one
share of new for ten of old stock?
Mr.. H.-The Alta Montana direc-
COTS were WOFhluS Ill Vic luIeIcSC VI
the stockholders. AS [ said before
they advanced over $500, 600 of their
personal funds in the hope of pro-
tecting the interests Of themselves
and other stockholders; and it is
through their influence that the prop
osition is made.
Rep.-Will the branch railroad to
Wickes and Clancy be built this e a
son?
MI. H.-Yes, sir. It will be COM
pleted within sixty days. The entire
road is under contract to be completed
in that time.
Bidding the gentleman good even
ing the reporter took his departure
with three convictions strongly inn
pressed upon his mind, j. e., that
Sam Hauser knows what he is about,
that he is a very pleasant gentleman
to talk with, and that he might "do
a good business in this country" if he
would locate in Butte.