The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1897-12-17
YHRY'RE SQURALING
Helena People Claim to Have q Big
Kick Coming.
SAY THEY WE'RE DEFRAUDED
Oat-Generaled by the Granite Noun
tain People They Begin to Roar
When It Is Too Late.
SAY THEY WERE DEFRAUDED


the Elizabeth deal. The Mail copies
the article entire this week to show
the people of Philipsburg how the
Helena hog" can squeal when he gets
his own tail twisted Following is the
independent article:
The announcement Of the sale of the
Elizabeth mine in Granite county to
the BIZ Metallic company has called
attention to scheme by which the
smaller stockholders in the Elizabeth
seem to have been "frozen OUT Of
their property. A number of Helena
men held large blocks of stock in the
mine, but they have met with the
same fate as the smaller stockholders
in St. Louis, who have only a divi-
dend Of A. cents to show for their in
/ vestment. There are about 800 Of the
smaller stockholders in st. Louis
alone, besides large number in Mon
tana, Among those in Helena inter
ested in the property were A. M. Hol-
ter, Robert S. Hale and Fl. NJ Par
chen.
The Elizabeth was sold two years ago
on judgment obtained in Granite
county for debt 1t was purchased by
a mysterious stranger named j. L.
Dickerson, who bobbed up after it was
understood among the stockholders
that Paul A. Fusz should buy it in
their interests. Afterwards arrange
ments were made to redeem the prop
erty and the Helena men actually paid
in their money, when the directors
OF the company failed to act. Now it
has fallen into the hands of the same
men who refused to take it before aud
the old stockholders have nothing to
show for their money.
The st. Louis Globe Democrat of
December 8th exposes the scheme of
the men who were at the head of the
transaction in the following article:
y The history leading up to the sale of
the Elizabeth mine to the Bi-Metallic
Mining company d1scloses series of
wheels within wheels that revolve as
intricately as any wheel of fortune
man could desire. It might be called the
Granite Mountain Bi-Metallic West
Granite Elizabeth deal. 1t is said that
individuals controlling the directory
in the Granite Mountain Bi Metallic
West Granite Ell zateth, and the allie
cation is made that they worked
through the deal by which the old
West Granite mine was absorbed by
the Elizabeth. Furthermore, the same
Granite Elizabeth Bi Metallic crowd is
said to have arranged this consolida-
tion so that they controlled the Eliza
beth. These men, as individuals,
loaned money to the Elizabeth Mining
company to develop it's mine, and took
stock in return. A good vein of ore,
it was said was struck in the Eliza
beth. Later the word was given cut
that it was a false rulnor that no
such vein had been found. Anyhow,
the work at the Elizabeth mine took
another direction, it is said. and no
silver ore in paying quantities at the
low price of silver being found, and
the funds being exhausted, the mine
was closed down
The. property was sold at auction to
clear debt. and was bought in by
mysterious stranger. After the debt
was paid out Of the proceeds of the
sale, the balance was distributed as
dividend of 4.4c ON share among
the Elizabeth stockholders, who then
realized that they were crowded out,
and that the mysterious stranger
owned the mine. Now, it is charged,
the same men who, as individuals,
loaned money to the Elizabeth Mining
company, step forward and, congre-
gated in the capacity OF directors of
the Bi- Metallic, they buy the Hliza-
beth mine. At the same time the hun
dreds of small ockholders are outside
the breastworks. and hold no stock in
the mine whatever.
The story Of the latest deal leads
back along the labyrinthine pathway
through number of deals made dur
ing and after the mining boom in ST.
Louis in the sos. Seven or eight
years ago the old West Granite mine
was absorbed by the Elizabeth. That
DEAL it is said, was carried through
by L.. NJ. Rumsey, Paul A. Fusz,
Charles M. McLure, a. B. Ewing.
Moses Rumsey and Charles Clark
who were then and are now known as
the "Granite Mountain crowd
Their brokers, who conducted the ne
gotiations, were Wernse g. Dieckman.
the Granite Mountain, and the BIZ
Metallic's claims lie alongside both
The "Granite Mountain crowd' also
controls the Bi-Metallic. TIE old
West Granite company had 500. 900
shares of stock, and the Elizabeth the
same. By the deal in which the Eliz.
abeth absorbed the West Granite the
syndicate composed of the Granite
Mountain -Bi Metallic crowd gave the
West Granite stockholders one share of
Elizabeth stock for two shares of West
Granite. and at the same time the
syndicate agreed to put up, and did
put up. 800, 900 in cash to develop the
Elizabeth mine. In other words, the
old West Granite stockholders got 250,
900 shares in the Elizabeth for their
800, 900 shares of West Granite, and the
Granite Mountain Bi Metallic syndi-