The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1890-12-25
The Elizabeth.

Ihe EllX0betil.
The auction sale of Elizabeth mining
stock at the east door OF the court house,
says the Independent, was held last Mon
day in st. Louis, pursuant to resolution
passed by the board of trustees of the
West Granite. and the Republic says it
| drew one of the largest crowds that prob
ably ever attended sale of a like nature
There were representatives from all lines
of business spectators, mine
| owners, capitalists and men from change
gathering at he place of sale long be-
fore the hour at which it was announced
to take place. There was great curiosity
as to what the stock would bring. and
many guesses we're made, but none of
them were near the actual figures, which
was surprise to everyone present. as
they were above the early market quo
ti0ns. The sale was conducted by that
veteran auctioneer, Judge Lanham, and
the two trustees, Massena Bullard
of Helena and August B. Ewing of
st. Louis looked out for the interest of
the company. Before the sale Judge
I4anham announced that there were but
12,33S shares to be sold, the balance of
the 1927 shares advertised having been
exchanged for West Granite stock. The
terms Of the sale were SOC cash, to be paid
when the stock was Knocked down, and
and the balance to be paid the trustees
at the Laclede building by two o'clock
when stock would be delivered to pur-
chasers, all stock not paid for at that
hour to be resold. The bids were to
represent 100 shares with the privilege of
500. The opening bid was $l.5O but was
not considered and was followed by
$2;O212. and from that run up to S2.27155,
at which the first 100 shares was knocked
down to George Houston. The next sale
was also IN 100 at 1926, at which figure
several 500 share lots we're quickly taken
by eager brokers for themselves and on
orders. From this time, however, the
100, 600 and 500 share lots until the last
lot OF 438 shares was put up. which was
Knocked down to l.. A. Coquard for 1888
per share. The total amount realized
by this sale was SIS, ,594.14, an average OF
$40 per share. The largest individual
purchaser was L. \. Coquarl, who
bought to al of ,43S shares at range
of $2.2715 to 1888, or an average Of about
$40 per share. The next two heaviest
buyers were Brentano and Pete McMer-
row, who obtained l,5G0 each, Houston
getting LOO and Julius Abeles 1000,
while Joe J. Mutually, who paid more at
tention to bulling the stock, was satisti-
ed with 900, the balance being scattered
in 200 to 60O-share lots to various bro
kers. he heavy purchases of L A.
Coquard were the subject Of much specs,-
latlon among brokers, who we're at loss
to understand it. As is well known, this
gentleman was the only obJector to the
sale of the West Granite mine to the
Granite syndicate, and he has a suit to
set aside the sale row in court which will
shortly be decided. Mr.. Coquard at the
time the sale was made was the owner OF
$4,000 shares of West Granite, which he
has refused to exchange for the new
stock, and which, it is said, he still holds
There is great difference of opinion as
to what his position towards the company
is row, since he has become large hel-
dor Of Elizabeth.,by this sale, but it it be- !
lieved that he has the company at dis |
advantage, whichever way his suit may
co. It is claimed that the money from |
the sale of sock made yesterday will |
have to remain in bank until his case is
decided. In case he is successful! the |
will be obliged to give him H.
)O5 shares of Elizabeth on basis Of 50 |
,ents per share, as claimed by him, while
should the suit go against him it is said
1e will have elaim upon S26,4OO Of the
mount taken in at the sale, as 1l,OO0 |
shares of the stock sold yesterday virtual
Y belonged to him as holder of $4,000
shares of Elizabeth. Others. however
ire of the opinion that his claim will be
nvalid because of his refusal to exchange
lis holdings by the specified time, and 1t
rill be another question for the courts
o decide.