The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-12-14
stocks.
Boston, December II, 1896
Butte Il Boston.

There has been considerable specula-
Sion as TO how the reorganization was
brought about, some one as usual has
been making nice penny out OF the
stockholders even il there was no under
writing in the case; the following taken
from the Boston Herald of Thursday
last let some light into the scheme:
The Butte Il Boston 10000 Davis es-
cate share deal il much talked about, and
people are querying as TO the destination
of the Sll2, 300 discrepancy between the
price obtained by the heirs and the price
said TO have been paid for the same
stock in Boston. The Boston News Bu-
Teau save:
As the Butte * Boston stock was sold
in Boston for 50 % per share while the
heirs IN Montana receive only 50 Der
share and no explanation is vouchsafed.
it IL TO be presumed that the SIP. 500
difference went largely for reimburse
ments in some OF the expenses of the iti-
CATION, for it is not known that the
Davis estate had any other assets held in
Massachusetts,, and Massachusetts legal
expenses have been something in this
famous will case
'Mr. William A. Paine, OF Messrs.
Paine, Webber x Co., says he. individu-
ally, bought the 10000 shares of Butte
* Boston stock in question for 50 Der
share OF the administrators, X. NJ. Morse
and Judge Wells, the latter OF Spring
held, and that his firm. (Paine, Webber
X Co.. resold the stock for $3 20 Der
share, and the difference in prices (S112
3O6) was his own. TO do with as he liked.
Asked how it CHANGED that Mr.. Henry A.
Root was allowed 80, 900 by the court IN
Montana for selling this same stock. MIR.
Paine said he did not know; that he did
not deal with Mr.. Root, and did not
know who he was. He said the talk
that the S11z.500 went to pay legal ex.
penses was not correct.
This is the cearest statement of the
Butte deal which has come to notice. but
leaves the person who has been more or
less familiar with current report pending
conclusion OF the deal still somewhat
puzzled. 1t il well known that there was
q sort OF crush TO get the stock at 50 25
per share. IL liz known that supdry
hitches' were reported in the deal, and
one OF these was said to have been caused
by one OF the Davis heirs demanding an
increased allotment OF the stock at SO 25
Der share. Members oil q 80 called Bipe
low syndicate. formed to buy the stock
at not exceeding 50 per share, became
eager subscribers at 1925.
ON November 81 the trust receipts
standing Tor Butte shares sold at S. so
each IN the market. On November %
one OF the administrators was quoted bv
name as saying that, as il now stands.
the special administrators have no an.
thority TO dispose Of the stock etc. On
the same day, speaking from memory, a
prominent party in the deal was quoted
on the iioor OF livestock exchange az saw.
aug that the deal was off. The rece,pts
Tell on the reports. The 10000 shares
could not, therefore, have been sold at 80
per share as late as November %. The
trust receipts were selling at So or high
er; people were eager to subscribe at
$3.z5, aud yet the heirs appear to have
consented to sale at 81 per share, This
as, indeed, puzzling. Ifanybody can solve
the puzzle by candid statement OF fact
space ~ mt his service. Justice and truth
are what Is aimed at. There is no motive
beyond that for this writing.
at IL said that Messrs. Lawson. Weid-
enfield & Co. will go into the Butte & Boe-
ton reorganization with about &c. 600
shares ot stock standing in their name"