Camas Prairie chronicle. [volume] (Cottonwood, Idaho) 1901-1917, 1903-10-30

pont Morgan company, James Stillman,
f. r. olcott, A. q. Burrage and A. r.
Flower.
About the time of the forming of
this corporation John MacGinniss, an
associate Of Heinze, bought 100 shares
of stock in the Boston & Montana.
He brought suit to prevent the sale
to the Amalgamated company Of the
B. & M. Properties. Judge William
Clancy of the district court at Butte,
on Heinze's application, appointed a
receiver for the B. & M, and, while
the receiyership was subsequently dis
solved and Judge Clancy was COM
PEELED to order return of the prop
erty to the Boston & Montana COM
pany, Judge Clancy taxed, as costs,
and ordered judgment against the Bos-
ton u Montana company on account of
the receiyership expenses amounting
to 1881, 900, allowing 100000 of the
amount to Tom Kinds, as receiver;
$4,000 to the attorneys, Mediation C
Cotter, and the remainder to other per-
sons employed by Kinds.
About two years ago MacGinniss
brought the present actlons against
the Boston & Montana company, bas-
ing his right TO maintain the same ON
his ownership Of the same 100 shares
OF stock. lie procured from the dis
trict court restraining order at that
time which was as broad as the in
junction granted few days ago. For
more than two years the Boston &
Montana company has been endeavor-
ing to procure hearing of MacGin-
Miss motion for the appointment OF
receiver and injunction and to obtain
a dissolution of restraining order.
The suit alleges that the Amalga-
mated company proposes to form
trust to control the price OF copper
and would inJure the rights of B. & M.
stockholders. The injunction has pre-
vented the Amalgamated company vot-
ing its SO per cent stock or paying out
the 100000 dividends :. has earned
since 1t took over the property.
In the decision just handed down
Judge Clancy holds that the Amalga-
mated company is prohibited from
holding any stock in the B. G M. COM
pany under Montana law preventing
the acquiring by one corporation of
stock OF another. Attorneys for the
Amalgamated company say that as it
VIII take six or eight months to get
the case into the supreme court, in the
meantime the only thing to be done is
to suspend all work on all Amalga-
mated properties. They add:
Other companies in which the
Amalgamated Copper company is a
majority shareholder, such as the
Butte & Boston, the Washoe, the Colo
RADIO, the Anaconda and the Parrott,
are In exactly the same situation as
the Boston & Montana company If
Judge Clancy is right in his expressed
legal views, and those companies close
down for the same reasons and be-
cause OF the same necessity for doing
SO that compels the closing down of
the Boston & Montana company"
The result is the Amalgamated COM
panies have all closed. The Clark and
the Heinze properties are still rum
ming, but together they employ less
than one-third the number heretofore
employed by the Amalgamated com
pany. The shutdown stops a payroll
of 100000 per month.
The working properties of Clark and
Heinze are at Butte. That fact Will
Keep up some business there. But at
Anaconda and Great Falls the smelter
closing means an absolute, utter paral-
ysis of all business.