The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-12-11
DEAD As A DOOR NAIL.
So the Republican Inquest on the
Helena Daily journal
Decides.
ALI Efforts at the Resuscitation
Of the Paper Prove
Futile.
Concise story OF the Attempts That Have
Been Made Looking to Its
Re-lssue.

The task M. Law Wallace. Jr., of New
York. undertook for Ruslell B. Harrison
in connection with the resuscitation Of the
Helena Daily Journal has proved n more
difficult one than he probably thought ii
was when he started from thu east for Hell
ens. Mr.. Wallace came to Helena as tho
representative of Russell b. Harrison and
also OF Stephen b. Elkins. sec stafy Of war,
and Hon. Richard c.. Kerins, of st. Louis.
To each of these gentlemen young Mr.. Har-
rlson. or the Daily Journal company. was
largely indebted, Mr.. Keyins saying in a
recent interview that the sum due him was
in the neighborhood Of $40,0 900. Both Mr..
Elkins and Mr.. Kerins are amply able to let
their accounts run, but neither Is willing to
put more cash into the Journal. They
therefore empowered Mr.. Wallace to take
stock In u new company for the amount OF
their claims, provided the republicans of
the state would raise a cash fund of S25. 900
to put into the pool. They calculated
that the paper would run behind about
$1,000 a month and that this fund
of $500 would keep it going for about
two years. The plan proposed by MIR. Wal
lace was satisfactory to Mr.. l.. H. Hersh-
field, with certain notifications. That
R~entleman's claim amounts to about $780,
COO, and while he was willing to assume a
certain amount of responsibility In the con
duct of the journal in case II was re issued.
he did not desire to take it all, nor to wi
the controlling interest. His proposition,
therefore, was that he would put in the
pool all the material he purchased at the
sherif's sale, and in return would take a
lien on the plant. This would be the only
indebtedness the new company would as-
sumo. MIR. Wallace agreed to this and
then the work of raising the $50. 600 in
Montana began. At first it was thought
prominent republicans outside of Helena
could be induced to take stock, and Butte,
Missoula and Great Falls gentlemen were
APP reached in that behalf. But the efforts
in that direction were entirely futile Those
republicans who were able financially to
take stock announced that they had con-
tributed literally to their local party paper
and did not care to 80 any deeper in
the newspaper business. Not a dol
lar of stock WAS subscribed for
by outside republicans, and then a deter
mined effort WAS made to raise $4,000 in
Helena. Personal appeals were made to
republican business men and federal offics
holders wi the result that up to FRI
day ming just $4,000 in stock had been
subscribed. A. M. Thornburgh was down
for $1,000. A. J. Seligman for a like
amount, lUOS. H. SuTLoT bAo bdHo duu
John Potter $500. The most persistent
canvassinR failed to induce my flu Their
subscriptions and Mr.. Wallace became dis
couraped. As a last resort. be sent to local
republicans whom it was thought might be
induced to go into the rool the following
letter:
HELENA, Mont, Dec. 8. 1885,. Dear Sir:
After consultation with several of the best
republicans of Helena about the best way
of starting a good republican morning
paper in this city, a plan was Formulated
the Merchants National bank, and of my
self for Messrs. Stevin d. Elkins, Richard
G. Kerins and Others. and this plan 10 now
before the republicans of this city for their
individual action.
The object in view is to the
publication of the paper Immediately. with
the presses, etc., of the Daily Journal com-
pany, and the Associated press franchise,
all of which are to be tn. ned into the new
company to be organized free of debt
The management ia to be left to repub
licans of this city who would subscribe to
what is practically a guaranty against
opeiating losses for two wears, and who
would receive for their said subscription
one half of the preferred stock of the COM
pany. which is p first claim uion it's earn
ings and upon its property.
Under this = arrangement the danger of
having the principal paper of the city
stopped entirely would be avoided, and the
absolute party and public need of a live re-
publican journal under the control and
management of men living here would be
supplied.
This consideration influences me more
than any other in making this offer in be-
half of the Elkins interest, and L would not
try to disguise my disappointment If the
republicans of Helena failed to respond to
the offer in the spirit in which it is made,
but the interests of the propos d paper and
my own engagements make immediate &C.
ton necessary. and ! am compelled to fix
Saturday, Dec. 10, 1892. as the last day for
acceptance.
Hon. L. ID. Weed is authorized to receive
subscriptions to this plan, and will explain
its details. Yours respectfully,
LEW WALLACE, JR.
1t WAS feared that the appeal made by
Wallace might not induce such an enthusi-
astic response as would be the case if it
we're backed up by one from a local republi-
can, and United States Attorney Il. ID.
Weed WAS induced to bring his influence to
bear. Mr.. Weed is not ungrateful for the
fayors he has received at the hands of MIR.
Russell b. Harrison, and at the suggestion
of Mr.. Wallace he yeste: day sent the fol-
lowing letter to a number of Helena repub-
licans:
OFFICE OF UNITED STATES ATTORNEY,
DISTRICT OF MONTANA, :
HELENA, Mont, Dec. 10. 1892, J
Dear Sir-It has been suggested by a
number of the business men of Helena.
who have taken an interest in the matter.
that a meeting be held this evening at eight
o'clock at the Montana club for the put-
pose of talking over the p oposltion of Mr..
Wallace, relating to the journal enterprise.
This meeting should interest every public
spirited citizen of Helena, and as this will
be the last opportunity for the people here
to avail themselves OF what appears to be II
very liberal proposition, l earnestly request
your attendance, if your business engage
ments will permit. Yours. very respect
fully, Il. ID. WEED.
In response to the call IA meeting OF
prominent republicans was held last eve
ninc. MIR. Hershield was out of town.
Those present were: J. II. Garter, Lew
Wallace. Jr., Il. ID. Weed, DIR. @. X. Cole.
A. M. Thornburgh, D.. A. Cory and A.. j.
seligmsn. Plans for a pos ective organi-
cation as outlined by MIR. Wallace were
discussed for several hou =. but no conclu-
sions we're cached. After the meeting Mr..
Ihornbur9h Ill response to several questions
said: The plan briefly stated ia to re-
organize with preferred stock to the amouni
of $780, 600. Mr.. Hershtield would take one
half of this for his claim and the eastern
creditors would take common stock. III
balance of the preferred stock or so. 0ut
would be subscribed by republicans IN tnif
city. About one-half of this has b.er
taken, but whether the remainder will bt
subscribed Id still u matter of doubt. The
affair may be said TO be between hay ald
grass"