The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-12-22
The Sale of Untransferred Eliza
beth Stock Was Something
Of Surprise.
Latest News From the Big and
Prosperous Camps About
Philipsburg.
poormau Election Interesting Facts
About the Boston and Montana
Company-Other News.

The auction sale of Elizabeth mining
stock at the east door of the court house
was held last Monday in st. Louis. pursuant
to q resolution passed by the board of trus-
tees of the West Granite. and the Repub-
lie says it drew one of the largest crowds
that probably ever attended sale Of a like
nature. There were representatives from
all lines of Observation-Disclosures. spectators,
mine owners. capitalists and men from
'chanee-gatherin at the place of sale long
before the hour at which it was announced
to take place. There was great curiosity as
to what the stock would bring, and many
cuesses were made, but none of them we're
near the actual figures. which were sur
prise to everyone present. rs they were
above the early market auctions. The
sale was conducted by that veteran auction
eer. Judge Lanham. and the two trustees.
Massena Billiard of Helena and August b.
Ewing of St. Louis looked out for the inter-
est of the company. Before the sale Judge
Lanham announced that there were but
1o,33s shares to be sold. the bal ance of the
1927 shares advertised having been ex-
changed for West Granite stock. The
ter ms of the sale were SOC cash, to be paid
when the stock was knocked d own and the
balance to be paid the trustees at the La
clede building by two O'Clock, when the
stock would be delivered to purchasers. all
stock not paid for at that hour to be resold.
The bids were to represent 100 shares with
the privilege Of 800. The opening bid was
$1.5O but was not considered and was fol-
lowed by $2Oo1a, and from that run up to
S2.o7l5, at which the first 100 shares was
Knocked down to George Houston. The
next sale was also in 100 at 1925, at which
figure several $500 share lots were quickly
taken by eager brokers for themselves
and on orders. From this time. however,
the rise was steady and sales were
until the last lot of 43S shares
was put up, which was knocked
down to l.. A. Coquard for 1913 per share.
The total amount realized by this sale was
&29,59414, an average of $2.4O per share
The largest individual purchaser was l.. A.
Coquard. who bought total OF 4,43s shares
at range of S2.2714 to S2.5S. or an average
Of about $40 per share. The next two
heaviest buyers were Brentano and Pete
McMorrow. who obtained 1900 each, Hous
ton getting 100 and Julius Abeles 1000
while Joe J. Mutually. who paid more atten.
ton to bulling the stock, was satisfied will
800, the balance being scattered in 200 &c
6OO-share lots to various brokers. Th
heavy purchases of l.. A. Coquard we're tn
subject of much speculation among bro
kers, who were at loss to understand it
AS is we'll known, this gentleman was tn
only objector to the sale of the West Grant
mine to the Granite syndicate, and he ha
suit to set aside the sale now in cour
which will shortly be decided. Mr.. Coquar'
at the time the sale was made was tn
owner of 1900 shares of West Granite
which he has refused to exchange for tn
new stock, and which, it is said, he still
holds. There is great difference of opin
ion as to what his position towards the
COMPANY is now, since he has become {
large holder of Elizabeth by this sale, bu
it is believed that he has the company at ;
disadvantage. whichever way his suit may
go. 1t is claimed that the money from the
sale of stock made yesterday will have tc
remain in bank until his case is decided. Ii
case he is successful the company will be
obliged to give him II 200 shares of Eliza.
beth on basis of GO cents per share, ii
claimed by him, while should the suit &c
against him it is said he will have claim
upon $26. 400 of the amount taken in at the
sale, as 11.0OO shares of the stock sold yes
terday virtually belonged to him as holder
of 1900 shares of Elizabeth. Others, how
ever. are of the opinion that his claim vii
be invalid because of his refusal to exchang
his holdings by the specified time, and i
will be another question for the courts tt
decide.