The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-08-08
Affairs OF the Iron Mountain Com
pany Said to b shroudsd
in Mystery.
Are tho Bears at Work or Has
tho Orc Supply Given
Outq


Shareholders IN the 4I00 MO0uGd10 aI0 IN
a ouandary to solve tho meaning Of the
movement to force the stock down. Some
believe that there il moro truth than postry
in the report printed in these columns few
DAYS since that the mine has really run out
of ore-that great efforts were made to ship
all the high grade ore, in order to declare
dividend and give some Of those ON the
.sinside', chance to unload. Whether this
was really the cause it not known, but it il
known that when tho stock had advanced
to 9l.OO, and as high as $1.26, number OF
the large shareholders did unload. and
made handsome profits. But the present
state Of Iron Mountain affairs is shrouded
in mystery, and time alone will reveal the
true situation. It has boen stated by those
who look upon the decline as ''fear"
movement, that the downward pressure
will continue until the stock has dropped to
Is cents per share, and even now it is down
to 80 cents. President Hale, the largest
individual shareholder in the company,
has no stock for sale, and 1t
has been limited that he has agents picking
up all the stock they can find Many of
the original holders intend to hold on to
their stock no matter il il should drop to
10 cents. Mr.. Fraser. one Of the original
disooveres and owners in the Iron Noun,
shares, and 10 very confident that the mine
il all right. One stakeholder remarked yes
! terday: II cannot understand the move
ment. Al far asI am concerned will hold
ON. I know just what the mine is. It 10 az
rich az ever. The Iron Tower is the only
ana the Iron Mountain lode has never had
pick put into it by the company. yet il
exposes great ledge Of steel galena. The
company has $4,000 In the treasury, il
shipping regularly, and tho property is al
valuable as ever. The railroad is still be.
ing built to the mine and will be completed
ii the course Of another weak, and then
look for the stock to assume its former
value. To me this vancouver appears like
| 3 scheme of some pereOns to buy mp more
stock at cheap rates, but ! don't propose *
let mine CO." M
Good reports continue 70 come from the
Unionvills and Park City districts at the
head Of the gulches four q five miles south
Of Helena. A great deal Of exploration and
development and exploration work is going
on. It is estimated that no less than 50(
men are delving for quartz up there within
radius of five miles and some very fine
specimens are being brought to town. The
old miners and prospectors have neve,
lacked confidence In the future Of the once
lively and aourishing mining district and
they never will believe that the Whitlatch.
Union was the only paying mine in those
mountains. There ID little doubt, too, that
when the legal entanglements Of that onct
| famous group of mines can be unraveleG
That it can again be probably worked. Re
cent developments in that district are rapid
! " bringing it to the 'front.'. A busy mining
camp few miles from the city would be
great benefit to Helena.
Those in position to speak have no hesi-
tancy in saying that they believe the Nc
mine at Unionville to be equally as rioh' al
the famous Whitlatch- Union, and through
il is located high up on the hill its course
is parallel to that Of the once productive
group Of Unionville. The ore IL free
milling gold proposition, which will moi
pay for shipment; but the mine is being
steadily developed and put in shape t.
stope out ore when the time comes. Worl
will continue right along during the fall
and winter, and in the spring it is proposed
to purchase N-stamp mill.