The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-18
MINING.
stocks.
BOSTON May IL, 1895
The Syndicate's Side.

In Saturdays Transcript we intimated
a belief that the downgrade course OF
prominent boston mining shares was
near an end, and the market today seems
to Justify this view in connection with the
two leading gold stocks. In that article
we reviewed the causes that had led to
subsistence OF public interest in copper
shares, tracing it To the influence OF the
Butte 4 Boston disappointment, and the
Merced's failure TO realize last summers
over-confident hopes certainly acted as
wet blanket on the interest which this
CITY was preparing to takein gold mining.
A number of mines which were just about
to be brought out for public subscription
have been held back by reason of the gen.
eral lack OF interest which has followed
sharp upon Merced's sharp break. How
ever, the fundamental facts remain. name
ly that there is good money in good gold
mines; il IL in MERGED, even, although
more time will be required to demonstrate
il than was assumed at first. The specu-
latiye excitement last summer which ac-
companied the revival Of business ran
away from facts in great measure, and
after the long speculative rest it was not
strange that its revival was over-buoy
ant in some directions.
Thus il was with the copper shares,
and even more so with the gold stocks,
MERGED prominently. The MERGED people
tried to keep the stock of the market
with the result of whetting the specula-
tive appetite the more, until it was added
TO the unlisted department of the Boston
Stock exchange, not by it's officers, but
under the rules which allow any member
OF the board to place stock on the pink
sheet. The MERGED was a proposition,
based on certain known facts and numer-
GUS assumptions. The profitable pro-
duction OF gold there will require more
development and more expenditure, and
longer time than was anticipated. As
this began TO appear, it was seen that
the price had been Doomed" altogether
too high; with calming OF general specula-
tive activity, the price began to recede,
the "boom" had gone too far; DISPOSE
ton was apparent to await results, and
when production began first results were
disappointing. With the general stock
market in a dull and narrow rut, with
lack OF public interest, the disappoint-
ment over the first work at the mill was
enough to start the drive which depressed
the price OF MERGED to $S per share yes
terday.
But the MERGED il mine, and will de.
monstrate that fact in time. Now that
the burrah is over in the market or spec.
ulatiye side. the property will have an
opportunity to demonstrate it's POSSIBLE
b lities The original purchasers main
tain their holdings to large extent; some
OF them certainly claim that they have
not sold any stock. They believe in the
mine now az they did when they pur.
chased il and intend to go ahead and de.
velop it. The returns for the second
cleanup mt the MERGED mine have been re-
ceived at the compaDy's Offices in the
Sears building. 1t is given out that the
results were highly satisfactory. This
management has been censured greatly in
connection with the MERGED and the Butte
properties, as we'll AZ with the Tamarack
IL is but fair to give it's side Of the case,
and to say that wholesale denunciation,
while easy, is not sensible under all cir.
cumstances.
The same management has made Of the
Tamarack, the Montana and the OsceoIa
great dividend paying properties, which
have paid and are paying millions in div
idends. Perhaps in taking on new enter
prises it may erin judgment. The Butte
4 Boston was taken over from other
management and the Bigelow people
never we're able to demonstrate it's abil-
ity to pay under it's debt, capital and