Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-05-06

standard on people found themselves
with q property which had cost them
several millions and which was con.
fldcrf1 by those best Informed To bc
~ very little value. the question con.
fgruntlnE them wan how 10 get. not
only their money out, hut 10 mako u
pay q pront The stock NJ tho Boston
4 Montnua company was selling then
at about $40 per share, hnd with the
brilliant outlook Tor hlgh prices for
copper was stnily quoted far below ~
value. Into this Htock tho standard
ON millions mere poured In IN. en-
deavor 10 get control, the shares
bounded FROM $50 10 $3.50. and while
blocks Of enormous size had found their
way Into the oil mems vaults. the con-
troll waA nllll IN the hands of the Low
issohn. lllEelow syndicate,
A proposition 90 consolidate Butte q
lioston with liosion q Montana and
thereby unload the former onto the
latter. which was entirely capable Of
paying dividends for both was enter
talnel, while the negotiations were
pending. the market price OF butie a
iioston was advanced from $50 70 80 a
share. and demand made that the con-
solidntion be made on tho basis of mar
bet price.
REFUSAL FORCED 4 FIGHT.
The Lewirsohn. Blgeiow syndicate,
knowing the value ~ their property
ANA the lack ~ proven value IN the
lutte a Boston. refused TO enter on
the basis proposed,
on this refusal came the fight that
convulsed the copper stock market of
Hunton and drew tho attention OF Imam
Clefa Of the world Thousands Of shares
Of Montana" stock went Into the
market In tho endcavor 10 break the
price, and with the deluge u shares
tina
Standard on brokers that IN going over
the Affairs ~ the llutte 4 Boston COM
pany II had found that the Lewissohn-
liigol0w crowd had robbed lutte" u
about 5000, 900 for the hcnont NJ
Montana' while both companies were
IN their control.
The Iewirsohn. nlFelow brokers on
The board stemned tho tide for several
days by buying an the Montana"
ftuck offered al 1926 per share and hid
every i've minutes "12sb for amy part
~ the capital stock"
Millions " dollars were needed 10
keep tho price at fgg5 for the standard
on crowd had nearly half the capital
stock TO dump. the banks wec sudden-
~ frightened by tho terrific lighting
ana Montana" shares were not cOn-
hdered good ~ collateral
Every resource ~ the mighty LOWS.
fphn- iiigelow combination was called
NNNNh FtINltt IN i''N W iNNNa ANN NNAN
who We're taking the stock. until ilnaiiy
when they hoped tho storm was over,
the representatives ~ the standard on
People displayed certificates ready for
vale that would take millions again 70
absorb; the LewlsA0hn crowd saw the
hand against them was too strong ana
capltulhted on tho spot. From that
time II was generally believed the two
conflicting interests worked hand IN
hand, II ID certain they showed no hos
ulity 10 ohe another
BATTLE IN THE COURTS.
During the progress u events Flyen
above another cloud was looming on the
horizon. n. Augustus iielnze principal
owner Of the Montana ore Purchasing
company Of Butte. had been bringing
suit after suit against both the Non
tana and Bntte companies, and the two
latter counter suits again lIelnke, tn
yoiylng the right 20 mine tho valuable
bodies OF ore opened IN the different
mines, To escape the courts ana Iurie9
" Montana. olaimd n be too friendly
TO Htinze. the liOaton and Montana
company Of Montana transferred It's
holdings Of all kinds whatsoever, to the
lioston and Montana company OF New
York, 20 defeat this move Helnze APP
Piled In the Butte courts for the app
pointment ~ receiver for tho Mon
lana company. two employee "
Heinze's, in whose name stood a couple
~ hundred shares OF stock. making tho
duplication.
The application for the appointment
OF a receiver for this magnificent prop