Arizona republican., 1899-05-19
Some Facts Regarding the Great
 Amalsamated Company.
BEGINNING OF A REVOLUTION
A History Of inc Movement Which Started In Boston and Spread to New York Where Fosfered by inc Standard OH Company II Is Gathering Enormous Weight and Strength.

New York, May 1S.-(Special.) J. i Copper is king in Boston. Copper is
 striving ito become a king in New
 York. In Boslcn they talk of little 1 else and have talked of little else for
 nlanths. In New York, within a week,
 the capital stock of seventy-five mill
 lion dollar company, organized to con
 trol the output of a few mines, was
 CvorsubscribSd almost before it was
 offered, the public paying full par
 value of $100 share. In Boston cop per stocks have doubled, trebled, quad
 rupled in a year and new companies to
 work new mines are being organized so fast that they cannot be promptly
 investigated and listed on the ex- | change. In New York the statement | is gravely made that the stock of the
 new amalgamladad company, to be handed out to the public at $100
 share, will be worth $15O and $175 a
 share by the time it can be delivered.
 The formation of the Amalgamated
 company in a little room in Jersey City last week was Cnly the first step. That meant a company with a capital of sevenlty-five million dcllars Yet in the plans Of the men who are behind the copper movement seventy-five mill lion dollars is mere bagatelle A POO
 million dollar Steel trust, they say, is a piglmy compared with what is to emerge in Wall stneet when the plans are carried through. It may be. 400 millions. It may be more Other companies with a similar eno,mous
 capitalization are to come forth and
 be fed to the public, with the ptomiss of s, 10 and 12 per cent dividends
 All the copper mines that are want ed will be gobbled up, as the Anacon- da, WaShOe, Parrott and a few Mon tana mines were gobbaed up, or par tiaMy SC, last week. Then these big combinations will be amalgamated i'm to one enormous company. and, presto, 50 the financial magicians say-a new Standard Oil company wfll be born. The Messrs, Rockefeller and all the Standard Oil capitalists are in it; J Pierpont Morgan is in iia, and the copper magnates of Boston-half a dozen of whom cannot count on the fingers of one hand the millions they have made in copper-are in it, too.
 WHAT THE GAME MEANS.
 TO succeed the manipulators of the coming copper trust must keep the price Of copper up. To keep the price of copper up they must control the output not only of the United States. but Of lJhe world. There is corper in great quantities in other countries. Spain, Germany, Asia and South America and the Philippine islands are aliGh in it. In addition to this. success depends on an ever increasing demand for copper and on the contin- ued failure of human ingenuity to sup- ply a substitute.
 If 1t fails the crash that will coma will be a financial earthquake. Once Detore an attempt was made to control the copper output of the world and it ended in disaster that shook all Eu- rope. 1t was oniy ten years ago thai M- Secretan led the syndicate known aS the Societe deS Metaux into she tra mendous manipulation through which the price of copper the world over was to be doubled. And doubled it was. put cndy for time. Then came the crash and almost everybody connected with the movement was overwhelmed.
 But the pricmoters of this gigantic enterprise can see no failure in it. They say Ithat the first company. or ganized with seventy-five million dol aTs capital, represents assets actually worth 100 or 125 million dollars-a lit- tle discrepancy of twenty-five million dollars not cutting any material fig the stock will always pay s per cent and that there will be rights" to it giving large pii2fits in iepenidens of the dividends This evil 1ently means the right to subscribe Or new issues at par
 AS Boston is the nursery of dIhe cop per boom, it is necessary to get a clear dea of what MT. Lawson calls an fin lustrial revolution" to go to Boston or the story of the growth of this tre- nendous business.
 The Boston operators point out that when the Secretan syndicate failed in Trance, back in the sos, it left the world a visible supply of copper which vas very large for the needs of the imes-something like 15O,00O tons in ound numbers. In addition there was n invisible supply, which, it is said,
 oContirued on Eighth Page.l -,