The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-07-13
THE MINES OF MONTANA.
The Mining Exchange Not Very
Active---Some Reflections on
Company Organization.
Good Reports From the Castle
and Iron Mountain
Districts.
Old Alder Gulch Heard From-Progress
ON the Old Ben Kimber-Other
Notes.

NOtnlng OF great or startling interest Oc-
CURED at the Helena Mining Exchange yes
terday. The third day has passed and still
the Iron Mountain is the only property
listed and its stock is quoted at IS upon
which basis 125 shares changed hands yes
terday. The Iron Mountain has paid $780,
600 in dividends and is capitalized at So
100000. At the price of the stock-85c.-
this is valuing Iron Mountain at $485,0O
which conservative men think is more than
it is worth. The belief is rapidly gaining
ground, and among class of people who
are mostly interested, that big mistake is
being made in capitalizing mines at such
enormous figures az is the prevailing rule.
From one million to five million dollars is
the value placed on every new prospect which
in reality is not worth anything when
the company is formed, and it's true worth
can only be ascertained by development.
Shares with par value of $40 are offered
all the way from 5 to 80 cents per share,
and most of them from 5 to Is cents at the
beginning. The big valuation is only a
catch, which the public is beginning to APP
complish anything that would do more
good to Montana than to regulate this
loose and reckless method of valuing prop
erries before their value is ascertained. No
mining company should be permitted to file
articles of Incorporation until its capital
would bring about beneficial result and
would do away with the stock speculations
upon which q host of men now make iv-
ing-generally men who know little or
nothing of mines and mining.
For some unknown reason the local min
expected Of it. One thing makes itself very
prominent in this connection, however-ls
that everybody has stock to unload, but no.
body wants to buy. On the 18th of this
month the Denver mining exchange will
celebrate it's first anniversary. It's first
year has been remarkable one. The fol-
lowing history of the exchange briefly stated
is from the Denver Mining Exchange Jour
nal:
first held in small room in the Times
building. but the attendance became so large
and the number of visitors SO great that
more oommodious quarters became
senoe Of ns'S local habitasion Of
its own, the exchange secured for its ses-
sions the large hall of the chamber of COM
MERGE with offices on an upper door of the
same building for the board of directors
and secretary. The properties that are at
number with more to be added as soon as
dates can be arranged. The sales of shares
on these properties during the past six
months on the exchange aggregate over
$15, 100000. It is safe to predict that by
the LIST of January next the sales will have
amounted to the enormous sum of $40, Co.,
GOO. These figures are given merely to af-
ford an idea of the mammoth proportions
to which operations on the exchange
have already grown. The great and
vita.izing influence these transactions have
had on mining interests and the general
ton. Up to within two months ago the
settlements of a large volume of business
transacted on Change were made between
the members themselves which led to COM
plications and delay. The exactness and
certainty requisite to such large monetary
transactions was wanting and a remedy
was sought which resulted in the establish
ment of clearing house through which all
of the business of the exchange are
promptly and correctly made"