The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1897-12-24
ELIZABETH Is INIT"
She Has Gone Where the WoOdbine
Twineth
BUT HELENA IS STILL KICKING
Few Helena Mining Sharps' Scratch
ing Their Heads and Wondering
Where They A1e At

|
est and was read by everybody. One
gentleman, who commented upon the
matter to The Mail representative,
stated that he did not see that tho Hell.
ena people had very great "kicli'
coming, as the large holders in tie
Capital City had originally got in on
the ground hco'' at about 4c pen
share at the organization of the West
Granite that while the people of Phil
ipsburg aud vicinity were paying 81 a
share for treasury stock after the or
ganization had been completed, the
stock was being parcelled out at lOc a
share to Helena people. He said that
while they might feel somewhat az
grieved at the turn affairs had taken,
still, they had the least kick of all
! The Helena Independent recently
contained u second article regarding
the matter and published letler
which Il. S. Hale had written to Mr..
Rumsey. One would judge from re-
cent utterances Of the Helena men that
their great 'kick' is not at the out
come Of the Elizabeth affairs but
rather at the fact thai they had not
been taken in on the deal and were
left ''ont IN the cold
| The Independent article reads as fol
| lows:
The story Of how the majority of the
stockholders of the Elizabeth Mining
| company were "trOzen OUT of their
property by what is claimed to have
been a conspiracy on the part of some
Of the large share h lders in st. Louis,
as was published in the Independent,
attracted wide attention. The St.
Louis Globe Democrat. which reported
the sale of the Elizabeth for 500, 900
to the very men who two years ago
would not allow the company to pay
$50, 900 for it, intimated that the Hell
ena stockholders in the Elizabeth COM
pany might be conneced with the deal.
The fact is that the Helena men who
were interested in the company were
deceived the same as were the small
st. Louis stockholders, and like them,
they feel that they have been swindled
by some one.
After the property had been sold to
the mysterious Mr.. Dickerson, the
company had six months in which to
redeem 1t. l.. M. Rumsey, of st.
Louis, president of the company, un-
dertOok to reincolporate the company
so as to make its stock assessable and
SO raise sufficient money with which
to redeem the property Mr.. Rumsey,
at least. made pretense of working
to that end, but the Helena stock
holders in the company doubt that he
acted in good faith. At least, nothing
came of his efforts and the property
was lost through default at the end Of
the SIX months, the title passing to it's
unknown purchaser.
The Helena stockholders had made
arrangements to pay their pro lat
share toward redeeming the property.
Robert S. Hale, H. M. Parchen and y.
A. Nelson actually paid their assess
ment, while A. NJ. Hotter, x-Sentaor
Thomas @. Power and Ex-Governor
Samuel T. Hauser had made satisfac-
tcory arrangements to pay theirs when
the money was needed. After the
time had elapsed in which the proper
ty might have been redeemed, the Hel.
ena men who had paid their assess
ments were surprised to receive their
checks from Mr.. Rumsey with brief
statement that the scheme for reorgau-
izing had fallen through
The Helena men were not only sur
prised but indignant that the mine
should be allowed to 20 by default.
Robert S. Hale had depended upon
Mr.. Rumsey to keep him informed of
the proceedings and had reposed such
confidence in him as to give him power
OF attorney to transact his share of the
business III ST. Louis. When Mr.. Hale
received notice that the ST. Leuis men
had allowed the redemption of the
property to go by default, he wrote
him the following letter:
Dear Sir: l received your note of
explanation of Dec. 81 last with re-
turned check for the amount of nv as.
sessment on Elizabeth stock tor the re.
demption Of property l would have
written sooner had not been waiting
and hoping to hear something more
regarding this extraordinary fiasco,
the result of which was quite unex
pected and great surprise to me for
felt sure you would redeem the proper
ty whether your scheme went through
or not; nor did l suppose for one mo.
nent you would let this property 20
by default. or l should have acted very
differently and certainly would not
have sent you my power of attorney to
act for me in this matter. l regret ex-
ceedlngly, owing to the high estima.
tion have always had Of you, and for
the friendship that has existed between
us, to be compelled to say am not
pleased, nor do l approve of the
manner my agent has looked after and
taken care Of my interests in this trans
action. I am sure | would have acted
differently for him had | been placed
in a like position at least, when
found the scheme was going to fail,
| wonld certainly have notified him
and given him an opportunity to have
protected his interest should he so de-
sire.
Who are those parties who failed to
respond with their assessment? They
must have been your St. Louis friends.
as learn that nearly. if not all. who