The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-04-02
THERE is TROUBLE.
Iron Mountain Stakeholder do Not
Know What L. Coming

Iron Mountain stockhoiders do Not
Know What L. Coming.
Missoula, March 3l.-There seems to
be some trouble in the Iron Mountain
company. Just what Is the cause of IL
all Is not known here, but the local
stockholders in the company have re-
ceived within the past day or two some
documents that nave aroused their
curiosity N they are now wondering
what is coming. The company, as is
generally known, has suspended opera
tions at the Iron Mountain mine on ac-
count of the great depth of the work.
ings and the heavy expense entailed in
the extraction of the ore. A tunnel to
tap the lower levels has been discussed
at length and the Missoula ~stockhold-
ers recently were Informed that the
prospects were excellent for the con-
struction of this tunnel I'm the near flu
ture. The funds for this purpose were
to come, so the statement was made,
from the operation of a leased property
that the company Is now working. Moth
ing had been learned since the receipt
OF this news until Today, when circu-
lars reached here from the company's
office in Helena which Indicate that all
Is not mooth sailing. The first of these
was a printed postal card. dated March
2s. which reads as follows:
Dear Strive would respectfully re-
uutsi tldl Nou 1--WE Io Jill louI IoA
for the stockholders meeting of the
Iron Mountain ompany until you re-
ceive a statement which Is now being
prepared concerning the management
of said company. tSigned). Frank d..
Miracle, director, and other stockhold-
ers."
This set the stockholders thinking,
for each one received a copy of this no.
tice, and M one seemed to know what
was back of IL. While they were still
thinking about IL, they received, each,
a copy of the following letter from
President Hale of the which
is dated at Helena, March 80:
ITO ACKNOWLEDGEMENTS we hand
you a statement of the receipts and dis
bursements since our last financial
statement, and as intimated i'm our cir
cular letter of Feb. 10, we have pur-
chased an interest in the Wal Eagle
lode. situated on the Northern Pacific
railroad. near Butler, Montana, and
about 10 miles from Helena, and have
also secured a bond N lease for the
remaining interests and adjoining
claim. upon which active preparations
are now being made for placing them
upon "A working basis and all necessary
machinery is being removed thereto
from the Iron Mountain mine. The
decision of the board Of directors being
that it would be preferable to the
slothnolutfS VI ne COMPANY W utuulIt
new properties and maintain a value To
the stock rather than disburse the
funds on hand as dividends"
This letter Is accompanied by a state
ment OF the finances of the
n by a request for a proxy i'm favor
OF II. 5. Hale. the president of the COM
pany The financial statement is as
follows:
Cash balance. Oct. Is, 1897. $22, 436 AZ
Returns for shipments in Octo-
Defs'.s.'.. '..... ............. 54.Jo4 81
Returns for shipments from
lessees 49,. ...... ........... l,451 80
Receipts from sale of supplies 33S 81
s5s, 791 %
Less current expenses for Oc-
tober...... .......... ........ 81, 300 "A
Less current expenses since
October. . -. .......... 1879 Oh
Less expense of tunnel ........ 1880 90
Less payment for interest in
War Eagle. ................. $685. 81
s24.432 A.
Balance. -. .......-....... 34,JoS 10
IL is not known whether or not this
is the statement that he referred to in
the notice signed by Mr.. Miracle. The
only theory that has been advanced
here is that the directors want the bal
ance discussed. Ii may be. however,