The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-10-09
A Well-founded Report that the
Granite Mountain Mine Il
to Be Sold.
An English Syndicate to Pay
Thirty Million Dollars Be-
fore January.
About the Major Budd-A Big Mining
Scandal In Nevada-The Drum
Lummon Output.


Mountain mine have been revived in st.
Louis, and like the first report, an English
syndicate is said to be the purchaser. The
enormous sum Of $40, 00O. GOO is the consid-
GRAFTON for which the mine 10 said to have
been sold, this being an average price per
share of $75. President Rumsey has been
approached for confirmation of the re-
ported sale, but he declined to either deny
or affirm the rumor, and the newspaper re-
porters have been left to surnise as to the
probability of such a transaction being
consummated.
The fact that the 6rst report Of this kind
was promptly denied by oficialsof the COM
pany. and that no denial has been made
this time, there il every reason to assume
that the report is correct. This assumption
il based upon doings and transactions that
have had direct bearing upon the sale.
Third street in st. Louis became greatly
excited last Friday over the mysterious
movements at the exchange. This was
caused when Ed Rawlings sold to President
Julius Abeles 800 shares in lots of 100 at $45
per share, cash, with the dividend. No
more sales were made during change hours;
but later sales of 200 shares more we're re-
ported at $44,75 ex-dividends. These sales
were make to j. H. Dieokman and others on
been received from an English syndicate to
purchase the mine we're put in circulation.
A singular and important fact regarding
tho 800 shares purchased by Mr.. Abeles was
Uncovered, and that was that this stock
was the same lot he had sold earlier in the
week at much lower figure, and he had re-
purchased it on an order from the original
owner.
Notwithstanding tho reticence Of all the
company officials, this much was learned:
Not ooly has proposition been received,
but on Friday last meeting was held IL. at
resented, for the purpose Of drawing up
circular to be issued to the other stock
holders, and giving the basis of the pro-
posed deal. In this circular the stockhold-
ers will be requested to turn over their
stock to certain parties, who are to deliver
English syndicate. The first 5000 shares
at the rate of SIS per share, and the bal
ance in an asoend-scale up to $e1 per share.
A st. Louis special quotes President p, aa
Granite Re ali 81 which lave been given con-
sideration and laid before the stockhold-
ers. have no wish to keep anything back,
but under the circumstances cannot give
any information to the press,
"Then you refuse to either deny or affirm
that an option has been given"
Il refuse to discuss the matter any
Here is what the Globe Democrat reporter
learned of the transaction: 1.-THE option
extends to the lat of January. 1t applies
either to zoe, 600 shares of the capital stock
or to the whole amount, which 10 100000
shares. The price varies according to the
amount which the EnRlishmen may wish to
purchase, but the average price ig $75. or
$50. COZ, 900 for the whole mine. Ex-JudRe
George A. Aedill and Mr.. James Taussig-.
the latter one of the attorneys of the Bank
Of Commensurate drawing up the papers
in behalf of the company.
'The news of the deal caused Granite
Mountain stock to strengthen ON the Min
ing exchange. It was in demand and sold
at $45. As in the case of other stocks, the
price of Granite Mountain is regulated en-
it is ever sold. A demand for ], 600 shares
would jump the price to $500, and an effort
to sell 1000 shares would put it down to
$40. Its regular dividend is 600. per share
per month, SO that at $75 share it would
pay the Englishmen eight per cent. on their
Investment.
''The Granite Mountain has recently add
ed q great deal Of costly machinery to its
plant, and in addition to paying its regular
ounces Of silver on hand, The chances are,
that the sale of the Granite Mountain will
lead to the sale of the Bi-Metallic, which is
capitalized at half the number of shares
100000.
IA circular giving details Of the whole
transaction will be issued to the Granite
Mountain stockholders in ewidays."
It is also reported that the men who are
handling this sale are the Same who recent
" completed the sale of st. Louis breweries
to English capitalists.