The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1891-06-27
SATURDAY. JUNE q. 1891.
SOLD AGAIN.

And now comes the Chicago Tribune
in IA lengthy editorial in which the write.
sells the great Anaconda mine for $50.
100000 to a foreign syndicate. backed b,
the Rothschilds. This. we believe. is tn,
second or third time this immense prop
erty has passed from the hands oi
Messrs. Haggin, DAILY IL Co. to those OF
some foreign purchasers on paper
newspaper. Heretofore the sales have
failed to stick" but the Chicago man
has made this one with such an all
wool-fast- color arranted-to-was air of
sincerity that the average reader will
come to the conclusion there may he
something in it.. This belief may be
strengthened when the said average
reader absorbs the lengthy diatribe con
corning the great danger with which
the country is threatened by reason OF
foreign capitalists getting hold Of al
the best properties in the country. just
hear him! After stating that: 'Thc
fact that these mines have been closed
down nearly three months may be simply
an incident of the transfer, or possibly
may be found to justify the fear that the
purchase is part of a gigantic scheme for
controlling the copper supply of the
world in the interest of the men who
lost heavily in the speculation IA little
more than two years ago" it says:
How much farther can this foreign
acquisition of properties in the United
States be allowed to proceed before it is
checked by the strong arm of law: Al
ready the English syndicates have COB
bIed up grain warehouses in city and
country. breweries, packing houses,
stock-yards. vast land tracts in the
Western States. and invested in several
other directions where they exercise o n
troll of management as vel. as dividends.
And in the majority of cases they seem
to fall naturally into the trust methods
Of direction. aiming not only to dominate
the supply to consumers, but to repress
competition as between producers. and
reduce to a minimum the amount
IF labor paid for in filling the market.
They have thus assumed a dangerous
DDNtT anu are tA'lllllS an IliiuNIl't
which is certainly not in harmony with
the conditions of healthy trade. Indeed
this is regarded as one of the necessary
features. since the concerns bought out
are always capitalized at sums which
allow large profits to the promoters and
organizers. the interest on which must
be paid out of the business in addition
to that on the purchase price paid to the
sallar which iS rnDnpalN "a full 1nn II
is said the capitalizations by these En-
g!ish syndicates average not far from
twice the fair cash value of the property.
The Tribune man seems to have EN-
bad. but as Montanians have yet to ex-
p%erience the i'll effects of foreign invest
ments in mining properties they will not
likely catch the infection. In view of
such a contingency, however. the follow
ing from the Anaconda Standard may be
given. The Standard is in a position to
know whether the sale referred to has
been made. If it has. it may be pre-
sumed mention would be made of it in
its columns. But here is what it says:
Many are the newspapers which go out
in quest OF the straight tip, but few
there be that find it. The latest contri-
button to current literature regarding
the fate of the Anaconda properties is
found in this paragraph, which made its
first appearance in the Boston .Adver-
tiser: 1T is reported that the Anaconda
has sold its last pound of copper and
that the mine is completely shut up.
Mr.. Haggin is credited with saying that
he will never work it again. The French
syndicate owed the company 100000, Of
which, it is claimed, the company never
received a cent Next"