Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-01-11
Revival Of Project for a Local
Mining Exchange.
IT WOULD FIND FAVOR
A Benefit for Investors Of Limited
Means--An Aid to Mining
Development.

It is not improbable that the movement
looking to the organization Of a mining
exchange, ~inaugurated last December.
will be revived in the near future.
When the project was preached about
six weeks ago a petition was circulated
for the purpose Of securing the signatures
of prospective members. Representa-
tives Of all the banks and nearly every
prominent mining and business man sign
ed it n promised to aid n encourage
the movement. Everyone approached
gave the scheme cordial endorsement.
However, those back of the p reject fail
ed to set a time for a meeting and the
matter was dropped.
There are few mining men in the city
who do not realize that such an organi-
cation would result in much benefit to
Montana's principal industry. The spec
ulatively inclined of Butte are numerous,
and there is a large class of would-be in
vestors whose means will not permit Of
speculation in the high-priced copper
stocks, but who would be glad to trade
in cheaper stocks of merit. and who, by
doing so. would greatly help the mining
industry and take the chance Of being
helped in turn.
I'm every mining town of any import
ance In the Unlled States a mining ex-
change flourishes." said a prominent min
ing man to a reporter for the Inter
Mountain to-day, ''and yet, when it
comes to mines Butte leads them all. /
woul be very glad to see the matter
agitated, n would do all in my power,
for the good Of he industry which is the
backbone Of Montana, to make an ex-
change a success.
1.-The mining exchange Of Colorado
Springs has made a small town famous,
has helped to develop prospects into mines
and has made possible the sharing of the
profits of big propositions among people
of ordinary means, and Colorado Springs
critics are divided into several classes;
dividend payers. producers and goo3 pros
poets. Before a property is listed it is
exported thoroughly and is passed upon
by the board of directors. Only pros
poets of undoubted merit are considered.
n the patrons of the exchange are safe.
guarded from wild cat schemes. Tho
same system could be applied to the Butte
exchange.
Under the present conditions thou
sands of dollars-Butte money-is in the
hands of eastern brokers. A princely
sum of Montana money is being handled
by members Of the Boston exchange. A
BUTTE exchange would keep this money at
home, help to develop native u
The Investment would always be under
~ Eyes VI Tie luVtSlOI anu UlSFe WOulO
be less apportun't y for manipulation. II
a mining exchange had been in existence
in Butte in the early days, Montana men
would be receiving the profits of the Mon
tana copper mines, instead of eastern
capitalists.
Montana, although her mineral output
exceeds that of any other state in the
union IS comparatively undeveloped, and
with the growth of the mining industry
fabulous fortunes will be made. A min>
ing exchange would permit of the distri-
button of this wealth that is to come
among the people Of Montana, and for the
good of the industry I hope the project
will be pushed"
1t is quite probable that a meeting of
those interested in the formation of a
Butte exchange will be called come tins
next week. 1t is proposed to place the
control in the hands of bankers and con-
sentative busines men, who will admit
to the floor only brokers Of repute.