The new North-west., 1890-03-07
OUR HELENA LETTER.
A Bit Of Chat About Mining Stocks and Other
MattcrD.

HELENA, March i.--In the absence Of
any very exciting topic at the Capital, it
has occurred to me npporune to say few
| words about
| AssEssAnLE AID WORCESTERSHIRE MINING
STOCKS.
| When a couple of years ago, weary of
! waiting for outside capital to come in and
develop the prospects of Orc Fino district,
the people of Deer Lodge took hold of the
Cottonwood, Mountain Lion, Champion
and other properties, to incorporate stock
companies with a view to developing the
properties any proposition to make the
stock asscssable would have met with
almost unanimous disapproval. We were
new hands at the business then. Nine
owners would not have put their property
in for stock on which they would have to
pay assessments. We believed that few
thousand dollars would develop the prop
critics sufficiently to make them valuable,
and many of lis believed they would be
"dividcnd payers in a remarkably short
time. The few thousand dollars realized
from the sale Of treasury stock was deemed
ample for the purpose, and the strike of
little body Of quartz that today would not
enhance the market value of stock one
cent Il share, would in those days send it
up to five or ten times its original cost.
We have learned better by experience.
We have gone through the same process of
education every community has that
started off as we did, and we have arrived
at the same conclusions. There is good
deal of truth in the old saying that "it
takes 4 bank to run a mine AS it so
happens, the mines of the Oro Fino dis
trict are ''decp.' That is good guarantee
J of their permanency; but it likewise
makes the expense of opening them a self
evident fact. In an exceptional case, like
that of the Champion, where there has
been lore from the grass roots down" non.
assessablc stock may do, but as with the
Cottonwood and Mountain Lion, that l can
name, there is almost certain to come a
time when Development must cease before
the property becomes selfsustaining, or it
becomes so heavily involved that disaster
follows: Aside from developing the mine
it is almost invariably the case that con-
ccntrator mill or smclter has some time to
be built If debts are incurred that can
not be met the property is eventually sold
to pay them and stockholders lose their en-
tire interest Assessabie stock protects
itself. 1t is less subject to depressions
and only becomes valucless if the property
5 ultimately proves so. Bad management
IA, inj bt ,nt
well guarded against BY law. Considcra
ton Of these things and practical demon
] stration has revolutionizcd sentiment in
. Deer Lodge on the assessahle and non
= assessable stock question, and in converse
5 ton with persons from all parts of the
: sion: mon -asscssable stock is 4 mistake
| "and has been abandoned wherever the
| ..people have had mining experience.
+ Fortunately the laws of Montana in rela
e ! tion to assrssable stock companies are as
e nearly perfect as it was possible to make
+ them, and if any Of our Montana compa
5 neS see proper to convert themselves I,
4 this method there is no difficulty, and bu
I little time required, in doing so.
j, MISCELLANEOUS MATTERS.
The coming of the Iucll Grand Opcr;
: company is attracting more attention hcr'
e than any preceding entertainment. Tho
i Montana Central has given one fare for
l theround trip rate. and as Of the re
6 suits Great Falls has made up party o
r sixty to hear FnuSt and have engaged
e accommodations a, ''thc Helena" where
@ the leading members Of the company viii
: also stop, for next Monday evening.
:, This reminds me that the railroads HAY
: ing general Offices here have all accorded
: the Grand Army comrades Il single fare
y rate for the round trip to attend the En-
I campment at Livingston, April ). A com
e mitten appointed by Commander Galloway
= consisting of Comrades Eaton, Sanders ant
S Mills, called on the representatives Of the
:, railroads Il few days ago. The Northern
|, Pacific, as the one having the most "haul, !
was called on first in the person Of Genera
u Agent Edgar. The rate heretofore ha
! been "a fare and fifth Mr.. Edgar cor
o daily recommended single fare rate Il
y General Passenger Agent Fec, who tcle
graphed to grant it. and Mr.. Langley, 0
t the Great Northern, and Mr.. Eeazic, 0
o the Union Pacific. promptly and kindly
c said their companies would cheerfulls
c come to the rate. | have no doubt the
Il Montana Union will do the same, and tha
o many more Of "the boys" will thus attcnt
+ than have heretofore felt able to do so.
= PROBABLY !, FIRE BEG.
HELENA, March BIT seems rathe
= probable that Helena has sire bug
: within her limits, and it may transpirc yc
that the Granite block fire was incendiary
Last night, just as the stroke of twelve
' on the town clock ended, alarm "33" wa
sounded from the signal tower and th'
;. lIorsky building, a three-story brick, dag
onally opposite the new Power Il Larsel
block, was found to be on fire in the thirt
y story, occupied by Englehorn's Business
: College. A couple Of police officers ane
!, three other men rushed upstairs from thu
street and were subduing the fire when al
explosion of gas occurred that burned al
of them seriously, some having the tlesl
on their hands and faces burned to blisters
' one having his clothing set on fire and tws
inhaling the hot air. They got out th'
best they could and quickly, aud wer'
:, taken to drug stores and given medica
y attendance. The effect of the explosion
was remarkable. The flames burst ou
the windows and shot out, like jets from
immense blowpipes, Is or 20 feet owe
Jackson street, and lasted as many seconds
~ Everybody cried out, "An explosion!" bu
- none seemed at the instant to know wha
!, it was. To-day an investigation shows tina
u the gas pipe had been maliciously cut nea
the meter, and man was noticed by
Il roomer escaping from the building a few
minutes before the alarm was given. Th'
= circumstances indicate it was the object O
" the incendiary to wreck the building by al