Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-01-17
SIZE Of The
AMALGAMATED
Would Take Five Companies to
Carry Out It's Plans.
DAILY TO DRAW OUT
Standard Oil Millions Must Pull the
Company Through In Butte
Scheme.

0SA1SAA1S1 l
The eastern papers have been filled OF
with sensational articles anent the
condition and schemes of the Amalgam-
ated Copper company, and much guess
ing has been INDUCED in. These stories
are commented upon and new features
presented of more than ordinary interest
to Butee by the Boston News Bureau as
follows:
1t was the attempted hotation of the
Amalgamated Copper company that
marked the end of the Wall street and
industrial share boom and left Ameri-
can finances in a precarious situation.
Boston's copper share brokers recall
most wildly the Secretan copper specu-
lation. when a practical copper man,
perhaps the largest copper manufacturer
in the world. attempted to raise the price
with the backing of the entire financial
world. Steadily the price of ppe was
raised, and as steadily consumption fell
off, production increased and Invisible
supplies accumulated until in the end
there was a crash and the surplus stock
was disposed of in a declining market
covering the next seven years.
History never repeats itself literally.
The Amalgamated copper share specula-
ton attempted to work the stock n of
q similar movement and was backed by
the Standard Oil banks and the Stand
ard Oil millions.
Very few people know the size of the
Amalgamated plans. They look ridicu-
lous in less han a year from the launch
in0 nf what uynC tn hn tho fret nf q
series Of Anaalgamated copper COM
panies.
The first $75, 600, 900 of the Amalgamated
Copper company embraced the control
for the most part of only one copper
company and it's allied interests, the An
aconda.
More than one-half the Amalgamated
share capital was invested in Anaconda
n its allied companies, and while the
price of Anaconda has been cut in two
it has declined from $40 to $31. so, and is
still under $40-the shares of the Anal
gamated Copper company, which in
siders are understood to nave secured at
800. have been 'pegged" in Wall street
at around $50. and recently advanced to
$S5, with no advance in the value of the
main asset of the
1t is not Boston banks or Boston bro
kers that are a menace to Boston's copper
share market. 1t is the Standard Oil
party, loaded with Amalgamated and
probably $50, O00, 900 of the copper stocks
and backing the market with millions Of
money which it is believed cannot belong
altogether to the owners of the shares,
that causesa great feeling of uncertainty
In New England regarding the future of
copper and p
No student of the financial situation
can afford to blind his eyes to the possi-
BILE effect Of the rumors now running
fht,n11Dh "n1 cfronf m IN tho ~~..:lp-
effect of the cry started in the sensa-
tional press of New York, demanding,
publicity, publicity, publicity and in
v~esttgatiOn of the treasury department
and one Of the largest banks in New
York.
We don't believe the report in Wall
street that the National City bank is
loaning $685. 0O, 900 on Amalgamated
shares.
New York finance would be very un-
sound If any such line Of names as is
contained in the directors of the National
City bank could be gathered together in
an institution that would loan any such
sum OF money upon Mining shares, even
though the mining shares be copper, and
backed by Standard Oil names.
Nevertheless, one must take note CT
JUNIORS and remember that there are great
uncertainties attending a government OF
investigation.
wv ~ Sb Az ICIJOll UIC
m to us from several different sources
in New York, and Is alleged TO be giyen
out by National City bank people, thai
the Amalgamated people have obtained
$4,000 shares of Boston & Montana from
Boston interests at the price of 5000 pal
share. We think the amount was less
and the price nearer to $227 per shore, We,
the persistent rumors that the price was
$500 are continually depressing Boston
& Montana shares, for there is the feal
that Standard OH people are gambling
in copper shares to square their account
n take money out of the market from
the people who believe they are following
Standard Oil Investments.
People will still query If Anaconda could
have been sold down from 20 to below 40
/ unless there are Standard Oil selling, O.
Parrot from 73h to 31H, with the Stand.
ard Oil people still holding their invest,
ments. 1t Is known that the so-callet
Standard Oil investment in Utah has beer
considerably reduced, and it Is queried Il
it is judiciOus to relieve, through the mar
kets, the Standard Oil investments il
copper.
There is a theory that the Standard Oh
people have tried to work the market tt
save themselves. and that when they
have privately bought a large block Of
stock, they have parted with a consider
abe amount of 1t at a good deal higher
price to the public. thus reducing tn.
price of that which they retained.
While not believing all the copper ru,
mors, we have reason to believe that tn,
Standard OIL people nave purchased. fol
the benefit Of the Amalgamated Copper
Co., 10, 1000 or more shares of Boston 6
Montana, at a price above $500 per share
We have also reason to bslieve that Mr.
Daily, president Of the Amalgamated Cop
per Co. has reduced his holdings from
SIC, 900, 900 to Sc, OC0. 600. and is seeking
purchaser for his entire interest. He Ii
in poor health. and intends going to Flu
rope. and later he hops to bIild a hous,
in New York. If his health holds out. h