The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-05-02
THE CHICAGO EXCHANGE,
The New Market for Mining and
Other Shares Starts or
Very Auspiciously.
The Objects of the Enterprise, as
Told By Presidentlar
Sheridan. : II
Prospecta of East Granite-TR1 Four A1ile
DistrIct-Bi- Metallic Extension
General News.

The. Chicago Metal, Mining n StocK OK
change is now under full Roadway. 1t be-
Gan business with sixty members, but it is
said that $50 substantial Chicago business
have sienifed their intention of joining.
TIL Chicago papers of Wednesday last give
long accounts of the opening on tuesday.
Montana was represented by Samuel
schwab, who made a short speech. Among
the other mining men who were present
were George F. Batchelder, of Colorado,
ex-president of the Denver Mining e1-
change: Hugh MacDonnell, st. Louis, who
is largely interested in Montana mining
properties; President Marley, Of the Sacra-
mento Mining company. of Denver, Col;
Mr.. Henry, Custer county, Col, and Il. h.
Wicks, an owner of i mines at Joplin
Mo-; F. w. Ferry and A. S. Wright, we'll
known mining men of Aspen, COL, who are
not in any way connected with this new
enterprise, dropped in to observe the
christening ceremonies. The officials
of this new exchange are as follows:
M. j. Sheridan, president; Henry
Burkholdsr, vice = president: Ber-
thold Friend, secretary; American Trust
and Savings Bank, treasurer; board OF
directors, NJ. j. Sheridan, Henry Burk-
holder, Leopold Moss, e. r. Nicely, Barton
Browne, John T. Hanna, James A. Garner,
A. F. Beattie, F. A. Bishop, A. S. Lowenthal
and w. T. keenan,.
President Sheridan, in his address, said
in part:
''There are now produced by the mines
Of the United States each year about sixty
millions in silver and thirty millions IN
gold, to say nothing of the copper, lead
zinc, iron and other metals. Most OF this
is produced west of Chicago, and is refined
either here or west of here, and then sent
to New York and other eastern cities for a
market. Over twenty millions of silver
are refined in Chicago and vicinity each
wear. To make a market for this silver
here is one of our aims, by establishing a
repository where certificates can be issued
and our capitalists allowed to carry 1t at a
fair interest. Trading in these certificates
will be a feature of the exchange. Another
feature will be trading III mining STOCK.
The people of St. Louis, Denver and other
cities have made fortunes out OF mining tor
the reason that they have gone INTO 1t IN q
business way, having the properties offered
them thoroughly examine to see IT they
we're meritorious. Chicago Investments, as
a rule, have been disastrous 1of the reason
that investors have generally gone In blind
ly. Without doubt, there is more attention
being paid to mining now than at any other
time in our history. Mining has got to a
basis where it is just as safe as farming or
any other legitimate business.
Cone of the objects of this exchange is
to present only thoroughly meritorlous
properties to the public. When a mine is
listed on this exchange it will be a guaran-
tee TO the public that it has merit. and has
a good title. and if persons make invest
ments in any of our listed mines. then
chances to make money Will he
as good as if invested in any
other legitimate business. We shall
list a few prospects, but they must show g
vein of ore. The formation must be right
for a mine and in fact, show every indlca.
ton that with development they will be
come paying mines. Only the treasury
stock can be listed, and with the under
standing that the proceeds of all STOCK
shall be used in the development of the
. property, and owners of each mine listeC
will be required to make reports at Least
once a month of work done, condition, etc
Chicago last year. manufactured more iron
than any city on the continent. We shall
encourage the building of storehouses fol
all the base metals-iron, lead and COPPER
and issue certificates for the differen'
metals in store. Trading in these certiti
Gates will be a feature of our exchange. w
shall also list such of the industrial an(
local stocks and securities as shall come t.
u.s."
The only stocks listed on the first da,
were the Hunkl-Dori r Diamond Bee
Colorado silver mines.