The Butte inter mountain. [volume] (Butte, Mont.) 1901-1912, 1901-12-17


Lawson on the subject of the Ama1Ea
| mated organization. of which the follow
ing is a part:
Personal knowledge. 81
In the light of this new phase of Anal.
gamated l will make Il few statements
for the benefit of those who hold Anal
gamated stock. and in weighing These
statements I would ask them to bear in
mind they are not made by anonymous
press agents, irresponsible rumor mon.
gers or those who have no knowledge
whereof they speak. but are made <by
one who has today, and has had from
the start, full knowledge of everything
pertaining to the purchase of every
property and asset now owned by The
Amalgamated company. the plans Which
led to the formation of the company. the
formation and fiotation of the company
itself. and. with the exception of advance
information about the cut in the last
dividend. full of knowledge of the gen.
eral plans and business of the company:
are made by one who is and always has
been one of the largest owners in the
property: one who has from the incep-
ton of the Amalgamated company up to
today done everything in his power to
public generally the great intrinsic
worth he knows it possesses: one who
has never since the company was formed
done or said that which would depre-
ciate the price or worth of the stock or
aid those whose self-intereSt lay in de-
precia ting it. l ask stockholders in
weighing my statements to bear in mind
the above facts, rather than the con-
temptible accusations that have been
made by those individuals whose aid
can always be obtained for hire. or they
will be meaningless.
Creators of Amalgamated.
The Amalgamated campaign of
slaughter was not planned and put tpte
operation because of any inherent weak
ness of the company. but rather because
the company is. and has been known-t
be from the start, the safest, largest
money Garner and most conservatively
capitalized of any Of the great com
panies that have been created in the
past 10 years measured by any of the
modern standards of value. .
There was nothing haphazard, un.
known or doubtful (to those who ore
ated it, about the Amalgamated COM
pany, it's assets or its earning powers 1t
was the most carefully planned, tlfor-
oughly investigated enterprise ever dce-
ated in Wall street.
Messrs. Rogers and Rockefeller of the
Standard Oil company, Messrs. Still4an
and Olcott of the New York Banking
interests. and Messrs. Morgan and
Flower of the Street interests. probably
the six ables, and most successful BUSH
ness men in America or the world,
carefully investigated at length. per-
oil Nv, into oil HI
and properties which go to
make up the assets and earning power
Of the Amalga mated company.
These men delibera tely and with pre-
ton capitalized. tloated, gave their
words for it's worth, and have since per-
managed it's affairs.
Amalgamated is cheap at 500 per
share under any conditions that could
be foreseen, for every kind of condition
and contingency was carefully cam
vassed at the creation of the company,
or these mems words and regulations
are nothing.
The stories that have been put afloat
for the purpose of deceiving stockhold-
ers to the effect that the Amalgamated
company was capitalized upon high
price or flood of prosperity basis are
false. Likewise the stories that the
properties which go to make up the
Amalgamated We're not able to stand
alone at present capitalization values.
In passing upon tie value of these CONG
panies' assets, I speak oy the card, for
I know every property and asset which
goes to make up the Amalgamated COM
pany; I know their cost and at what
value they We're put into the company.
Sound Capitalization.
Upon the first capitalization of $75,000,-
900 the company stood alone in the light
of Wall street for over two years, and
it's stock sold for over 20 points above
par because it was known that it's in
come from it's coal, lumber, railroad and
other business, excluding it's copper
mines, would justify more than par for
the stock, and later, when it increased
it's capital to $S0,000,00O. it was known
to all that the increase was to pay for
two properties, which had been able for
years to stand alone in the open market
and give dividend returns which justi-
fled and made low their capitalization
of $50, 900, and all talk of "blind pool
fictitious capitalization of Amalgamated
is truly ''pitifully silly"
At the time Butte & Boston and Bos-
ton Montana were exchanged for
Amalgamated 1t was Well known that
there was copper enough in reserve to
almost retire the stocks and then leave
the richest mines in the world.
In all the recent Amalgamated talk
much has been said of the conservative
~ capitalized Calumet & Hecla. Calu-
met & Hecla is unquestionably one of
the richest copper mines in the world,
but 1t sells in the present depressed
condition of "Coppers'' at So, 900, 900: in
other words, it's capitalization today is
$64. 100000 not the $2,500,00O so often
quoted of late. A short time ago it sold
on basis of $9O,OOO,OOO, and if Anal
gamated was compared with Calumet &
Hecla upon it's present selling price Of
$64, 1000. Amalgamated would be cheaI
at a higher price than it has ever yet
sold for.
Stories Are Ridiculous.