The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-10-27
HEINZE OFFER IN COPPER war
~ SPEECH 70 MINERS. M SIG.
GESTS PLANS or ARBITRATION.


One Of Bis Proposals Would Give HlU
About All lie Has Ever Claimed
BUTTE. Mon, oct 28.-F A. Heinze,
being driven 10 bay by the miners, who
demanded that he settle his injunction
suit with the Amagamated Copper Com
pany, 70 that work in the mines may bs
resumed, TO day announced that he woulC
make a public address and present d
counter proposition 10 the miners
Fully 1900 persons gathered in front
Of the court house TO hear him speak. He
reviewed his troubles with the Amalgamated
company and agreed TO settle all differ
ences provided the Anna lgamated would
pay al Judgments he has secured and deed
him all the ore bodies in controversy III
the Nipper case, which would give him
about all he has been contending for, and
ore bodies worth many millions, His
proposition IL as follows
John MacGinniss purchased the 100
shares Of stock in the Boston and Montana
Company in April or May, 1898, at a cost of
500 share. The cost of the stock in the
Parrot company. owned by MacGinniss
and Lamm, WAS about S35 n share. John
MacGinniss WAS offered in 1899, and at other
times subsequent, $4,000 for the 100 shares
Of stock in the Boston and Montana Com
pany ! understand the Butte Miners
Union to be willing now to pay as high as
$4,000 for the Boston and Montana stock
and 500 share for the Parrot stock.
Il am authorized by Mr.. MacGinnisst
and Mr.. Lamm to state that they did no
wish to make money out OF the sale OF this
stock, but, on the contrary, are willing
to make sacrifice if sale thereof will
result to the benefit of the miners, laborers
and business people of Silver Bow and the
State of Montan ma. and am authorized by
them to make the the following offer;
THAT John MacGinniss will sell the 100
shares of stock in the Boston and Montana
Company for $500 share, or 32O,OOO, with
interest thereon from the date Of the pur-
chase at the rate of per cent. per
annum and MacGinniss and Lamm will sell
their shares of stock in the Parrot COM
pany for $3S share, with interest on
the amount at rate of per cent.
per annum from the date OF the
purchase of said stock; provided the judg-
ments and orders now entered in the case
OF Forester and MacGinniss against the
Boston and Montana Company and the costs
of the various actions with reference to
this stock are paid. and the whole contro-
versy with reference to this stock and their
rights as stockholders shall be forever
settled; and provided further that
the five undivided thirty-sixths Of the
Nipper lode claim. owned by the Anaconda
Copper Company or the Amalgamated
Copper Company, shall be sold and con-
veyed to me for the price paid therefor by
the Anaconda Copper Mining Company
ut the time it purchased the same and
per cent. interest thereon from the
date when the same was purchased
and the Anaconda Copper Min
ing Company and the PARROT
Silver and Copper Company shall give me
q deed of conveyance, assuring title to all
OF the veins and ore bodies contained within
said Nipper Lode claim, and the whole
controversy with reference to the Nipper
Lode claim shall be forever settled; so as
to enable me to operate the Nipper prop
erty. This will put me in position
TO give employment to something over five
hundred men and provided further that
the Miners Union shall obtain an agree
ment from Mr.. Scallon and Mr.. H. H. Rogers
that the Amalgamated mines will be kept in
continuous operation for the next year and
the present rate of wages which prevails
In the Butte mines and smelters shall be
maintained for a period of at least three
years.
AS separate and distinct offer and
looking to a settlement Of the entire mi
ming controversy, hereby agree to select
two men. the Amalgamated company to
select two men, and these four TO select a
fifth, which committee shall have the right
to settle all disputes and the ownership
Of all eontroverted ore bodies and declare
the rights of the respective parties, which
decision shall be final and binding.
Il hereby bind myself to the prompt and
immsdiate execution and carrying into
effect of either or both the above offers,
II the same be accepted
The terms are such as to appeal to his
audience, but 80 impossible that they can
not be accepted by the Amalgamated
company. The question OF arbitration
including all controversies, would be ac-
ceptable to the Amalgamated, il is said.
COPPER AND COPPER SHARES HIGHER.
The price of copper advanced sharply in
both the local and European metal markets
yesterday as result of the closing down
Of the mines Of the Amalgamated Copper
Company. In the local market the various
grades were marked up q of a cent pound,
vices reported an excited market at Lon
don. where there was an advance of f3 is,
Tor spot. which closed at ESQ los, and e.
"a Cd which closs d at ESQ Is, Cd.
II was said that the stocks of copper
above ground are comparatively small,
and that the manufacturers also have
very little of the metal on hand or con-
tracted for future delivery. Boston de-
spatches, which said that the Calumet and
Hecla Mining Company had raised its
price for Lake copper to IA cents, quoted
an officer Of that company as saying:
All the other Lake people have made an
advance to Il cents, and We have simply kept
up with the procession, Demand for copper
has, within the past few days made n most
surprising increase and the price Will go to
l5,cents very shortly. and even higher. The
advance In the London market this morning
IL unprecedented In the history OF the copper
industry and simply reflects the present
feeling Of traders regarding the situation.
The shares Of all the copper mining com
panies which are dealt in in the local market
aud in Boston showed decided strength.
III was taken for granted that with the
heavy production of the Amalgamated
mines eliminated the market position Of
the metal had vastly improved, at Least
temporarily. Even the stock Of the Anal
gamated Copper Company made sharp
advance In price, gaining 81 points on the
at $50 Rumors that the Montana sltua-
ton Is likely soon 10 result IN a settlement
between the Amalgamated and the fleinze
Interests, and reports that the Amalgamated
company had put by, IN anticipation Of
possible closing down Of It's mines, a large
stock Of copper, played par in the Dd-
in tlH DIlpp OF The stock