The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1899-11-28
E. August Heinze Of Butte
Liable to Sell His Mines
for That Sum.
THORN In THE FLESH
OF the Amalgamated Copper Co.,
Which He Will Bring Around
to His Terms.

" Ills IcIIllSs
People of this section of Montan,
know very little Of F. August Heinze
the Butte mining magnate, but he is u,
doubt the second wealthiest man in tn
state and has accumulated his immens'
fortune in about ten years. time
About a decade ago be went to Butte al
an ordinary mining engineer, sine,
which time he has not only succeeded
in getting hold Of some Of the most val
liable mines in the great camp, but hal
developed properties that were supposed
to be worthless and, according to thu
Boston News Bureau, an authority Of
such matters, is now liable to sell hi
holdings for $40, 600, 600. His oaree,
reads like a romance. but MIR. Heinze'l
good fortune has not turned his heut
and he is today regarded as one Of the
shrewdest men III the state. If we are
not mistaken, he is still under 35 years
Of age and, if he remains in Montana,
is very likely to play an important part
in the future history Of the state. A
recent issue Of the Boston News Bureau
thus describes the status Of his mining
deals, which is news to most readers Of
The Gazette:
Boston News Bureau: It seems to be
deemed probable OF all sides that the
first decision III the famous Boston and
Montana litigation versus Mr.. Heinze
Of the Montana Ore Purchasing Go.
will be in favor of Mr.. Heinze.
The Standard Oil people, who are
now, as the Amalgamated Copper Co.,
fighting Mr.. Heinze-it is so regarded
in Montana, although nobody in Boston
knows that the Standard Oil people are
in any way in control Of Boston and
Montana-will then have to face the
question Of how far and with what pos.
sible results they will pursue Mr..
Heinze in the courts, or whether they
will get the Amalgamated through the
Heinze pickle by coming down with
millions and buying out Mr.. Heinze and
his Montana Ore Purchasing Co.,
clock, stock and barrel"
Some day, when the smoke Of battle
is not SO thick, we may write a history
of the most interesting legal tussel that
ever engaged the state Of Montana, has
absorbed at least 81. 900. 900 a year in
legal expenses, and the issue Of which
is awaited with interest by the repre-.
sentatives Of 5000, 900, 900 Of mining
property, the future Of which il all
more or less at stake in the battle.
At present, it is Of interest, however,
only to know that negotiations are il
sight again for a settlement Of this con.
troversy. The question Of Helmets
price is Of interest and incidentally
opens up what the Amalgamated Cop.
per Go. must accomplish or pay for at
it's first step at Butte before it marches
further in it's would-be conquest of the
worlds copper market.
At first MI. Heinz was looked upon
as a reckless adventurer III the Butte
camp and by some mysterious means in
of a smelter without a mine to
feed it. It was said he wal going to
but he did not. It was said he
would Don be unable to keep lis smell
ter going, but he has gone on increas.
ing his production until he il pro.
at the rate of rs, 900, 900 pounds
per annum, and is preparing to increase
output to so, 900, 900 pounds per
annum. 1t was said that his whole
could be had for q nominal sum,
for q million or two. but it was not
it; then it vas declared that he
asked rs, 900, O00-a most ridiculous
price. Then when a receiver was or
to take possession Of the Boston
and Montana, Heinze was offered 3d.
900, 900 to sell out. Later the AmalRa-
mated Copper people asked him IL he
sell for $40, 900, 900 and now it
is declared by friends Of MI. Heinze
that the price Of his property is $780,
900 and he might take $25, 900, 900
cash. 1t is believed in independent cir
rles who are friendly to neither Mr..
Heinze 10 the Ama1gamatsd that
600, 900 in gold certificates would
buy out the Montana Ore Purchasing
Go. and all Mr. Heinze's mining prop
erty in Butte, which. in a most unac.
countnble way, have not only grown
very rich with depth. but have some.
how %networked tho Butte camp in such
way that he is we'll planted Oh every
one OF the richest copper bearing lodes
Of the district and in such a situation as
to make imperative a large part Of the
benefits Of the proposed Butte amalga-
nation.
II Mr.. Heinz can be secured for $40.
600, 900, the amalgamation Of the Butte
copper mines can 60 through upon the
lines originally proposed, and the pres.
emit copper production Of that camp
(230, 900, 900 pounds per annum) can DO
for $3.50, 900, 900 or VI per
and show present net earnings
Of 81, 900, 900 per annum or about 7 lao
per pound. And the net return can DO
increased by the economies Of %oonsoli-
dated operation by somewhere from two