The Butte inter mountain. [volume] (Butte, Mont.) 1901-1912, 1901-11-30
THE TALK ABOUT COPPER.

There are several ways Of accounting
for the decline in Amalgamated shares
during the past few weeks. II may have
been foreseen that the continued refusal
of many great copper producers to cur
tail their product on pro rata basis.
thus throwing the entire burden of sus-
tanning the market onto the shoulders
of one company, was bound to cause a
break in prices. 1t may have been sup
posed that there was truth in the Wash
ington rumor that the attorney general
of the United States had been instructed
to break down the copper trust regard
less of the distressing effects OF such ac-
ton on the men who make a living in
copper districts. 1t may have been that
many Eastern banks which had invested
funds in Amalgamated stock took alarm
at the early fall in prices and threw
their stock on the market in groundless
but natural fear and so precipitated a
further decline. Other shareholders there
may have been who apprehended that
state administration, elected under
pledges to drive all trusts" and COM
Dimes out of the state regardless of the
money they were distributing among the
people, might finally interfere with the
successful operation of the so-called
trust mines, even though 80 per cent
OF their gross output was left in the state
to pay for labor and supplies. Thus we
have four reasons among others which
might be cited to account for the decline
In Butte copper stocks. To some extent
all may have operated to bring about the
trouble. Sound or unsound, they have
had some effect on capital proyeroially
timid, Yet the Inter Mountain and the
intelligent labor and business interests of
Butte, aware Of the great resources of
the mines and the worlds need of copper,
will refuse to take despairing view OF
the situation and will look for nothine
more serious than temporary depres-
sion. to be followed by a sudden and
general revival. The Washington run2r
was baseless.
Inc consollnS feature of the situation
Is that the men controlling most of the
producing copper mines of Butte have
the ability, courage and financial re-
sources to carry their projects to a Sic.
cessful issue, and that as an evidence
vi their purpose they have this year
invested between $6,o00O00 and 81 900, 900
IN smelter so constructed as to enabIa
them to continue operations despite any
probable fluctuations in the price of
copper. The character of these men and
the capacity of the Butte mines are tho
"u'"arhs when now form the safe de-
tense OF Butte's industrial and CONNER
cial interests. These men. or the Anal
eamated company they control. own tho
STOCK or the Washoe and Colorado Min
ing companies. the Diamond Coke and
toai company and the Big Blackfoot
"ii'1ine company. all in operation. They
own controlling interests in the Ana
conda, Parrot, Boston G. Montana and
Butte Boston Mining and Smeltinp
companies. In the Parrot they own ma
9orlty OF the stock valued, in all. at 80
z9Sooo; IN the Boston & Montana. s3.75
WV IN the Butte & Boston, 1000 900; in
the Anaconda, $3O.00O,OOO These figure,
are taken from a statement Just issuol
py barnard & Gilbert, brokers. of R,s.
Ton. and cover the company holdings I'm
to June. 1891. The figures are here ra.
produced 10 dispose of the silly story
that there is any concealment of the
1acts and to prove to what extent the ip-
terests of the men of this community are
'uentical with those Of the Amalgamated
company. as are those of all other con,
panies to proportionate extent. The
fumors that come from New York ana
LONDON respecting the causes of the
slump need alarm no man in Butte ha.
cause most Of them are without founda-
ton. That the Amalgamated companv
mas mad many embarrassments to con-
tend with is true, but the main trouh,a
arises from European trade conditions
ana the fact that outside companies in
TINS country would not bear their pro.
portion of the loss involved in curtailina
the supply. If. as a result of these facts.
reduction in the selling price of CONNIE y
mas been forced, let the people of Butte
De assured that no other course was
open without serious results, not only
to the company itself but to the people
and the interests of Butte. They are
alike beneficiaries of a high market mr.
sufferers from low market. Thirteen
cent copper, should it prove a reality.
may to some extent hasten the absorb
ton of the surplus. but it will mean a
loss to some copper producers of whom
only the f1ttest will survive. Let us hone
that 13-cent copper will not close any
Montana mines, but may fall heavies,
on those whose owners refused to Join in
the policy of curtailment.
POstmaster General Smith has recon-,