Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-10-21
pecial to Times Republican.

Special to Times Republican.
Iowa Falls, Oct. 21.Much has beer
published about "frenzed finance" II
Iowa Falls. that is not true. and $,
much more is undoubtedly tru,
than has been published, that SHOULD
one of the promoters turn Iawso,
and write the story OF the Iowa
deal, he could furnish reading as in.
teresting as the expose of amalgamat
ed copper. A company capitalized ans
loated for $S50,000 another for $3.50,
900 and still a third one in prospectu:
for $4,000 is but u measure of low;
Falls commercial enthusiasm. i
matters little that these shares of CAPT.
tai stock we're retailed at 10 cents pei
share, the story of a speculative craz'
is there.
And it was all started by preacher
John Mulholand, Universalist, from
Charles City, was successful for
time as q preacher here, and then turn
ed promoter He organized mining
company to dredge the sands from the
bottom of the Frazier river III British
Columbia and extract the go$d there
from. The story at the time WAS that
he had pre~empted land along inc
banks of the Frazier river IN Brlllsh
Columbia, that the river sand was
full, more or less. of gold, and II cap
ital was invested and mining opera
tons started there We're millions in IT.
so the first Lillooet Mining Company
was formed, stock sold and work COM
menced. The final result of this first
scheme came when assessments We're
of fraud. suits We're instituted, all OF
which resulted in a smash-up and the
whole business played out
A little while later, Mulholland. still
convinced that the sands OF the Fraz-
Ter river contained much gold .fon
those who would properly seek 1t,
b. B. Bliss Of this place, and
and the Lillooet Dredging and
Mining Company was formed. At this
time it occurred to members OF his
congregation that Rev. MIR. Mulhol-
lands usefulness as ~ preacher was
impaired, and he resigned. Then came
out the advertisements In the papers,
and the printed circulars 1t was
stated that the company was incorpor-
ated under the laws of Iowa, had $780,
600 paid up capital, and the officers
elect We're said to be John Mulholland.
president; j. H. Stooksberg, vice pres
ident; b. b. Bliss, secretary and G. S.
treasurer. Mr.. Winery,
wishing to be sure Of his ground, en-
gagged the services of j. II. Funk, of
this place, who wrote to Secretary OF
State Martin and received In reply a
statement that no such company was
under the laws of Iowa,
and no paid up capital actually paid
in Thereupon Mt. Winery with
drew from the company and the adj
vertisements We're no longer published
Or circulars sent out.
Then came another reorganization,
Of the company, when G. +. Hancock,
Of Dubuque, was elected president;
became general manager,
and l.. G. Hurd, general consul; 3. -.
Bliss, secretary and III. c. Miller,
treasurer This company was report
I'd to be Incorporated under the laws
Of British Columbia. 1t is alleged
lere by pa1lleS WHO Claili W hNiio"
that the officials of this company re-
,eived $4,000 shares each for organiz-
ing the company and an agreement
was entered into that none of their
shares were to be sold till the balance
Of the stock was disposed Of.
Three hundred and fifty thousand
dollars was the capital stock, and a
number Of shares issued. Other ar
were made, giving large
for the sale of stock and
in short time all of the stock was
placed. From it's inception till the
present date the highest price per
share has been 80 cents, and the low
est u of one cent per share, at which
price George Schoenair has purchased
some, since the "ruction," and which
ne disposed of in one block at cents
1 share, to parties unknown, an agent
'or said parties doing business with
Mr.. Schoenair
The Hawkeye Company.
At this stage there seemed to be an
opening for another company. There
ore the Hawkeye Mining Company
,lso incorporated in British Columbia,
vas formed $250,000 capital stock, and
shares offered at ten cents. John
Calvin was elected president, and the
officers of the Lillooet company filling
he same position in the Hawkeye. All
If this stock was soon sold, but not
I'll delivered, and not full payment re-
,eived, but receipts given for the
same.
This was the situation when some of
he stockholders of the Hawkeye want
I'd showing. This is the time at
which Jackson and other stockholders
,egan to inquire into some things. A
ew of them met and called for gem
raj meeting some two weeks hence.
Mis- is also the time at which B. B.
Bliss, secretary, needed legal advice,
nd had Clark of Iowa City and Pic
EFT of Waterloo, called to town. And
bout this time is when Maud Hamil- |
on came to Iowa Falls as the stenog-
apller of B. B. Bliss and assistant |
ookkeeper of both of the mining COM
anies She is the lady who says that
v orders of the officials she burned |
ne books of the company in the office
tove. Mr. Miller previously resign
a as president of the state bank then |
'easurer of the mining companies, and
hen about to take a trip out west was
lduced to wait a few days and a de-
land was made that a new set of Of
GERS be elected, turning over the
hole business to them. And about
his time Mr.. Bliss was called upon t