Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-12-27
WHY GLOBE
BANK FAILED
elimination Of Attack Upon In
dependent Copper Companies
A STANDARD OIL DEAL
New York Journal Says the Anal
gamated is a Blind
Pool.
STANDARD OIL DEAL

The New York Journal of Dec. %, ex-
PLOTS the failure of the Globe Bank of
Boston and the part played by the STAN
dard Oil company, as follows:
The failure of the Globe National bank,
of Boston, is a elimination of an attack
made upon the independent copper COM
panies of Boston, which refused at the
behest of the Standard Oil people to
come into the A~malgamated Copper COM
pany.
This Amalgamated Copper company
was incorporated last spring with a capt.
tai stock OF $4,000. 900. This stock was
offered to the public at par imme-
diately subscribed several times over.
When the first steps were taken by the
Rockefellers to get possession of the cop
per output of the country, A. S. Bigelow
of Boston, and the men he represented
were heavily interested in many copper
mines. They We're the principals in the
control of the Boston and Montana Min
ing company, among others, a company
which owned very valuab properties
near Butte, Montana.
The stock of the Boston & Montana
Mining company sold as high as 1898 a
share during the spring boom in copper.
Ard it vas just about this time that the
Amalgamated Copper company was form
ed by John D. Rockefeller and his STAN
Amalgamated Copper company to the
public through the National City bank OF
New York, a Standard Oil institution.
Now, as a matter of fact, the Amalga-
mated Copper company was a blind pool.
The only big property in it was the Ana
conda. And it did not even own all the
stock in the Anaconda. However, it had
a controlling interest in 1t.
The Rockefeller scheme in the p p
deal was to get control of all the big cop
per mines of the country and organize a
copper trust as powerful in it's way as the
Standard Oil company.
The Standard Oil controlled petroleum,
they wanted copper. too. Rockefeller
made a proposition to Bigelow and his
associates to join the Amalgamated Cop
per company n bring in the Boston &
Montana mine AS this mine was a rich,
and as the price offered was not accept
able, the Bigelow crowd refused the Of
fer. :
Then began the Standard Oil fight to
get by force what it had found impos-
sible to obtain by ordinary means. The
easiest way to accomplish this object
was to tighten the money market. With
their opponents in a position where they
had to borrow money, and money impos-
sible to obtain, the Standard Oil crowd
recently found it had the whip hand.
Very recently the Globe National bank
announced-it is a. BAN with large cop
per interests-that it was in a somewhat
t%raightene condition.. AS a result the
Boston clearing house came to it's aid by
the issuance of SO, 500, 900 in clearing
house certificates.
This did not give all the aid required,
and on Saturday last Mr.. Stillman of the
National City bank of New York. H. H.
Rogers and Mr.. Burrage, a Standard Oil
p--A-.~ I1l -. ~.
ton with Bigelow n his associates in
Young's hotel.
1t is said that this meeting was of a
very unamiable sort. AS a result, how
! ever, the Standard Oil crowd got control
of the Boston & Montana Mining COM
pany, the United States Mining company
and the United States Oil company, a
concern which produces a large quantity
of petroleum each year.
Some idea of what the Standard Oil
people have been able to accomplish in
the copper market of Boston may be OBJ
tanned from the fact that the shrinkage
there in copper share values since the
first of December is nearly $50, 900, 600,
and almost $3.50, 900, 600 since the high
prices of last spring. when the independ-
! ent companies refused to join at the
| ated Copper company.
The same paper has this m on
a meeting of the Amalgamated COM
pany:
Following the usua custom of the
Standard Oil clique. the greatest mys-
terry was thrown around the meeting of
the directors of the Amalgamated Cop
per company yesterday for the d~eclara-
ton of the regular quarterly dividend.
The habits which men acquire in hand
ling of blind pools are not easily broken.
Wall street over-subscribed five times to
the capital stock Of the ~Amalgamated
Copper company when it was offered to
the public through the National City