The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-06-03
CORNFRI<G THE MINES.


CORNERING THE MINES.
For some time past a special advertise
rnent has appeared in the local columns
OF the Anaconda papers. announcing that
an important meeting OF the stockholders
OF the Anaconda Mining Company would
be held In Butte 70 consider a PROPOSE
ton for the sale Of the mines at Butte
and the reduction works at Anaconda,
owned and controlled by the same COM
pany. While the Anaconda Is an incor-
Iorated company under tf1e laws OF Mon
tana, for all intents and purposes. il is a
close incorporation. its stock being in the
hands OF a few wealthy individuals who
could manipulate IL as they saw proper.
and the business of the company by reason
OF this. was a sealed book to the public.
The large output Of the mine. where thou
sands were steadily employed. and the
constant working of the mammoth smelter
and reduction works. where other thou
sands were actively engaged were the
outward signs the public had of the i'm
mense business of the Anaconda company.
To thas indications the monthly payrcsl
usually gave additional emphasis. because
it was then the public was permitted to
share in the profits of the great copper
producers.
The special meeting of the company. I'M
der the circumstances. was the talk of the
camp and the state, and the surmises and
rumors were numerous as they were con-
flicting and absurd. IL was a clear case
OF everybodys business. and everybody
participated in ii. until finally 1t was I'M
officially stated that the Rothschilds had
made the purchase with a view to con-
trolling the copper production of the
world. which could only be done by con-
trolling the Anaconda. and the Anaconda
could swallow everything in sight. The
production OF the mine has been various
ly estimated at from si0,000G00 to Sl5.0Oo,-
90 year. or an average of $i.000.000 a
month. of which one-half was regarded
as clear profit. and the result is seen in
the number of milllonaires 1t has
created In Montana and California. where
the greater portion of the Anaconda stock
has been held.
IL this sale has been consummated. and
there is every reason to believe il has. IL
is the largest deal that has ever taken
place in the world The price paid, or pre-
sumed 10 have been paid, is said to he
from sa5.0O0.OO0 to $50. OOo. 900. and none but
the Rothschilds or a syndicate of wealthy
people could handle so vast sum or af-
ford to invest in a property of so great
magnitude.
The business sense of men parting with
property so productive and remunerative
may be questioned. but It Is said all men
have their price. and are willing to part
with anything in their possession when
that price is promered. In this respect
the Anaconda men arc like the rest OF the
family-they are human-they named
their price and got It,
The Anaconda has been n paving mine
for the past fifteen or twenty years. and
its affairs has been managed With the
most consummate ability. II has never
missed a roy day. and Il has always paii
the highest going wages IN mining camps.
It's greatest competitor for many years
was on the shores OF Lake Michigan. but
IL was promptly met and passed. and the
new electrical uses for copper increasing
the demand. made it possible Tor all TO
reap splendid returns.
As to the possibility Of the mine giving
out in the hands Of the new owners. such
a thing might occur. but the Anaconda IS
not built that way-neither are the
Rothschilds-and they will work IL and
manipulate it to their entire satisfaction.
SO long as the electrical demands OF the
world require. and these demands are only
at the beginning.
II is 10 he regretted. however. that this
great property should be permitted 10 mass
out of the hands OF Americans into the
possession OF foreigners. While IL is tr,le
that the property cannot he carried out OF
the country. and its PRINCIPAL business
will have TO be done here. involving the
payment 81 lsrgse stulss IL wages. sunr,ies
etc. still the moral effect is not the same
Tho profits derived from the hlrzsrsess arr,
invested abroad whereas, Il the proper
ties were 10 remain in control az Ameri-
cans. the profits would be invested in the
development Of American enterprises.
While It is an advantage 70 the country
20 have mines 90 this magnitude and i'm
portance. II IS greater advantage TO
keep them within the control ef citizens
81 the United States.
There is consolation in tho fact. how
ever. that the men who receive these mill
ions % English soverclgns. have the cour-
age 20 spy out new countries and 70 spend
their money in development Happily
this IS the material they arc made Of and
they are not slow - act