Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-03-15
THE PARROT.

The Parrot company has inaugurated
the policy of declaring monthly dividends
of 80 cents per share or at the rate of SO
per cent per year. The dividend de-
clared last week is 8 per cent payable
March 20 to stock of record March 10.
1t was stated in Butte some time ago
that Franklin Farrell had disposed of q
large block of Parrot stock. This was
evidently a mistake as shown by the fol-
lowing from the Boston News Bureau:
Mr.. Franklin Farrell of Ansonia, Conn.,,
the president of the Parrot company,
owns and controls, with his relatives, the
stock of this company, owning in the
neighborhood of $50, 900 shares.
1t is stated, though not officially. that
he was offered SAG per share for control
by the STANDARD Oil people and decided
to accept the offer, but on afterthought
refused to sell under $50 per share and
that the control has not as yet passed to
the Standard Oil people.
1t is further claimed that the only di-
rector who has sold his stock is MIR.
Migeon, who held 1000 shares. At the
time the Parrot mine was listed on the
Boston Stock Exchange the directors and
large stockholders sOld a block of about
1900 shares to a Boston brokerage house.
1t is claimed that Notwithstanding the
recent activity in the stock there are not
over 10000 shares of floating stock in the
street, including the above two blocks.
The Parrot mine for the year ending
June l, 1898, produced about Is, 600, OO0
pounds of copper and made a net profit
of $3.50 geo selling the copper at less than
lie. per pounds. Had it sold it's copper
at lie. per pound it would have earned
an additional $500, 600. Parrot ore, we are
informed, is now running 40 per cent bet
ter in value than last year. This being
the case, it would mean an additional
gain of $640 600. This would give net
earnings for the present year, based on
the production of last year, of s., 290, 900.
The company is now constructing q
new smeiter, and when same is completed
it will be able to handle three times the
amOun of ore it is now handling. Parrot
in a years time should therefore be earn
ing over Sc, 600, 600 per year on lie. copper
and over So, 600, coo on lie. copper.
We are assured that for this present
! year Parrot will show net earnings to the
stockholders of over s., 900, coo, equal to
50 per share on the stock.
The Parrot company owns 10 claims in
Butte and a smelter that cost over $780,
coo. On its new smelter 81 200, 600 has al
ready been expended. It's refining works
at bridgeport cost $500, 900. The company
has a surplus of 81, 100, 900 and has no
bonded Indebtedness. Parrot has never
levied an assessment.
George HaldOrn, the attorney and capt.
talist of Butte, is injecting a little west
ern push in his financial operations in
New York and will return to Butte a
millionaire. He is quoted as follows in
an interview:
Il have offered to join with others to
buy every share of Parrot offered under
so. All we ask is that the three largest
owners shall tie up their stock for 80
days. The Parrot company has 81 600, 900
in it's treasury and could pay an extra
dividend of $3.50, 600, or 81 per share, with
out impairing it's working capital. The
Bellona shaft shows a 15-fOot vein of
copper at the 60O-foot level that averages
better than the original Parrot.
I'm addition to this, in the Little Minah
shaft is a vein of copper ore that war
rants the belief that this vein is better
than the other two put together. The at
tempt of many people to gain control Of
Parrot by bets which are covered by buy
ing the stock is too transparent.
when you consider that Butte and
Boston which has already sunk several
millions without any returns to stock
holders, has been boosted to above 80 by
the same methods that are now being
used to depreciate Parrot and that Ar
cadian, which has never produced up to
the present time a pound of copper, has
sold for $4,000, 5000, the attack on Parrot
simply shows that meritOrious mines are
not appreciated by some interests until
they OWN them all, and when they do,
the ever-suffering public will realize that
there is more than one wool combination
being put up in New England; but this
may not be until after the copper lambs
have lost their ~fleeces.
Parrot sold last year IL, 600, 900 pounds
OF copper at an average price of 1O.S2c,
from which it paid more than 500, 900 in
dividends. Conner ut 1&c npr nOun1 ma1nS