Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-02-21
MINES AND MINING
Parrot Makes a New Record Of
$50 Today.
SLIGHT DECLINE IN B. 4 NJ.
Calumet & Hecla Nearing the 5000
Mark--The Boston Il
Montana Matter
SLIGHT DECLINE IN B. & NJ.

Boston and Montana stock took a
tumble during the early hours of stock
trading in the Boston markets this morn
ing, but quickly recovered. The decision
of the Montana supreme court yesterday
probably was accountable for the drop,
but these who imagined the stock would
remain Town We're beautifully ~disappoint-
ed. Boston and Montana closed last
night at 1915 and opened this morning at
1912. In the next hour it had dropped to
1858 out half an hour later had made a ~
point gain and at 2:30 o'clock this after
noon was quoted at 1869.
Butte and Boston was affected also. 1t
opened this morning at 1913. felt to 1872, and
half an our before closing was quoted
at $91A.
Parrot made a new record for itself to-
day-it reached the $50 mark. The rad
ing in stocks was active and many Butte
men showed their faith in home proper
ties by purchasing literally. 1t opened
at $47h, reached the $50 mark at II
o'clock, fell again to $47h but recovered
later and at 2:3O o'clock was quoted at
$50, a nine point raise since last Saturday,
with a promise of doing much better in
the future.
Calumet and Hecla stock went to the
$500 mark today and will probably reach
| 81, 900 before the end of next week. Utah
| Consolidated (Highland Boy) opened at
$471s, advanced to $4S, but dropped to
$46H.
Relative to the decision of the supreme
court yesterday denying the writ of pro
hibition asked for by the Boston ana
Montana company, there was much spec
ulation in mining circles as to its Ultimate
| effect. There are very few people here
who believe that the splendid properties
Of the mpa will ever be operated by
a receiver, and fewer still who believe
| that at the ruling quotation FOR copper
| work at the properties will be suspended.
1t is believed that a settlement or the
| matter will be effected within a few days.
John F. Forbis the leading counse for
the Boston & Montana said yesterday:
.'The case was brought by Burdette
O'Connor to secure the appointment or a
| receiver. Mr.. O'Connor, l believe, claims
to hold SO shares of stock of the company
that were transferred to him by James
Forester. He brought proceedings before
Judge Clancy, asking for the appointment
of a receiver and further demanding an
accounting. You see in the case OF For
roster and MacGinniss, in which Judge
Clancy appointed T. r. Kinds as receiver.
we were given no chance to snow cause
| why a receiver should not be appointed,
but a sort of nap judgment was taken,
and the courts action in that case is now
! DSllS rev lS"Cb ~ AN
terWard the O'Connor suit was
ed. in which that gentleman asked for a
receiver, also. We were gwen notlce,
however. in that action, and before Judge
Clancy heard it, a writ of prohibition was
asked from the supreme court and the
lower court was, temporarily, restrained
for the time being, from taking any fur
Their action in the matter. Today the SUI
preme court has decided that Judge
Clancy has jurisdiction. We shall, OF
course, have an opportunity to show
cause why a receiver should not be ap
pointed"
How far reaching is this decision OF
the supreme court?' Mr.. Forbls was ask
ed.
"Well, I cannot tell much about that
until l see the opinion of the court. If
however. it sustains Judge Clancy in ev-
cry particular, it will look very much as
though we were beaten
Would there be any chance for you
to appeal to the supreme court OF the
United States?' he was asked.
mo, we could not appeal to that court
We have exhausted all our remedies. pro
vided tina this opinion rendered today
has no qualifications
"A receiver. Mr.. Forbis, would operate
the properties of the company and they
would run just the same, would they
not"
mo. sir, the general rule is that {
receiver cannot operate the property un
less it is a property of public use, sucl
as a railroad, in which case a receiver il
given permission by the court to operat,
the property. The decisions show, how
ever, that the opposite rule maintains IL
regard to mining property. If a receives
is appointed the company's mines an(
lsmelters must close down. Certainly W.
should not want them operated by
receiver. There is too great an amour
involved. Think of it, $50, COO 600 worth o
property controlled by 200 shares out o
200, 600. I don't care to say any more con
corning the matter until l read the decls
ion in full"
Annual Muslin Underwear Sale mex
----l Hn,l "a, L nI-ic y 1nE Dir Il