The Washington times., 1905-06-14
WHAT COL. GREENE SAYS
ABOUT GREENE COPPER
Decline in Stock Simply Result of Bear
Riid-Company in Excellent Con-
dition and Earnings Big.

The New York Herald a day or two
ago printed an article on the subject of
the recent heavy decline In the price of
Greene Copper stock, in which a number
OF interesting statements were made
After the Introductory paragraph, the
article said:
There were reports that the Hartman
holdings IN the company were being
liquidated, and when the news came out
that Henry Ollesheimer, president of the
Metropolitan National Bank and vice
president Of the Shoe and Leather Bank
had resigned. the market for Greene
shares became weaker It was also
learned that e. B. Tustfn, treasurer of
the company. had resigned
5 Colonel Greene. the president Of the
company, said he did not think that any
OF Mr. Harriman's stock had come on
the market. and further, that the reports
or calling of loans by the Shoe and
Leather Bank were without foundation.
Henry Oliesheimer explained that
three months ago he decided to sever
his correction with the various direc-
torates other than his banks. II handed
IN 'fiy resignation from the Greene Con-
solidated Copper Company and the
Greene Gold Company at the suggestion
of several OF my friends that 1 confine
my attention 10 the affairs of the new
bank Of which 1 am now president
did not dispose of my interests in Greene
Copper, as 1 have examined the property
and think well of it. Before 1 went to
Europe, nearly three months ago, re-
signed from the directorate
w. L. Meyer, president OF the Shoe
and Leather Bank. stated that his insti-
tuition had not called any loans In which
Greene Copper was largely the colIat-
eral. FOR the last three months said
Mr.. Meyer, I'VE haven't had a share OF
Greene Copper In our loans. I believe
the last we had was a trifling amount
500 shares Four months ago I under
stood the bank carried a considerable
quantity of Greene Copper. but the
loan was taken UP by other interests.
Colonel Greene admitted that the loan
from the Shoe and Leather Bank,
amounting to s1,40o.eoo. with Greene Cop
per as collateral, had beSn taken UP and
paid for.
WAS ii simply transferred to another
institution or has it been canceled?''
was asked.
'sWeii." replied the colonel. 1--WE gath
Sieu ouT SDIpS Together anu Will Lilc
whetstone,' we had we paid the loan off.
This decline In Greene Copper stock. -
explained the colonel, rs simply the re-
suit OF a bear raid carried on by brok-
eragc houses. who have passed the word
around to hammer Greene Copper It is
circulated all over the West. Wherever
there is a wire from a clique of New
York houses one can get the tip to sell
Greene In my Judgment they are selling
what isn't theirs and there is only one
end to such a game as that"
No." said the colonel. in response to
a query. Il am not borrowing a dollar
! ana the largest stockholder IA the
Greene Copper Company and a few days
ago just bought an additional 5000
shares. am just standing pat, looking
on at this curb game, that's all.
ITO show you that the Greene Copper
Company has no intention of closing up
shop at this time. can show you a con-
tract that the company has made with
Phelps. Dodge & Co, for the purchas SIC
Of 5000 tons of coal and coke each year
for five years"
Directors and officials said the com
pany was earning $4,000 net a month
after all expenses were paid, and that
this sum was applicable to dividends. II
was argued that there was no Reduction
planned in the dividend rate