The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-10-17
SLAUGHTER OF
UNITED COPPER
Butte Men 0pine That Helnze
Has Another Scrap On
With AmaIgamated.
OTHER VIEWS EXPRESSED
ASSOCIATED PRESS VERSION
FROM NEW YORK.
OTHER VIEWS EXPRESSED

The terrific hammering that both the
preferred and common stock in f. y.
Heinze's United Copper company received
Tuesday and yesterday was the cause of
much comment in this city and particu-
larry in the ranks of the hundreds of
Butte miners and others who are now in
Salt Lake as a result of the curtailment
of production in the Butte mines The
tongue of Dame Gossip went on rat
Ting pace after bulletin came over the
Pollock wires to the effect that Thomas
w. Lawson had proclaimed that HelnZe
would make an assignment during the
day. and that an advance in the price or
copper stocks would follow.
No credence was given that report or
course but there were a number of Butte
men who expressed the opinion that an
other fight was ON between Rogers and
the Amalgamdted crowd and that II had
10 do with inside affairs of the United
Copper company.
II don't understand what the trouble
really is this time" said a man recent
" from Butte but whose name can not
be used. but there is evidently & fight
on between HeinZe and the Amalgamated
interests over something or another. He
whipped that crowd TO a standStill once
before and | believe he will whip them
again-by tomorrow night. if it is simply
a stOck-slaughtering scrap"
From another source the statement
came that when the United Copper COM
pdnN was formed ceftlIlcateS were issued
TO each interest contributing ground to
the company and that recently, when it
was desired to retire these certificates and
issue stock for them. the owners, or many
of them, declined to turn them in. This
action. il was declared. had left the
United Copper company with only part
of the assets il was understood to have
and that fact being exploited was what
had caused the raid on the stock.
There is no one here with authority to
speak on these matters and the stories
circulated and as given. are not to be
taken for more than they are-simply the
gossip of the street. Following is the
Associated Press story, sent out from New
York yesterday afternoon:
New. York, Oct. 16.-Tl aiding in both the
New York stock exchange and the curb
stock exchange was in a turmoil as a
result of excited movements and violent
declines in the price of United Copper
stock, in the latter market. The suspen-
sion of the firm of Gross 6, Kleberg. mem
bers Of the New York stock exchange,
contributed materially if il was not the
chief cause for the decline in both mar
kets. This firm has been trading actively
IN United Copper stock and II was re-
ported that they We're members of a pool
formed 10 support the price of the stock
Apparently there was a break i'm this
pool yesterday, as the result of which the
common stock broke from $50 to s36 per
share and the transfer agent of the com
Eany declined TO record the transfer of a
block of 1880 shares which he said had
been sold in violation of the rights of
parties having some interest in it.
II was reported that Gross & KIeberg.
acting for the interests identified with F.
Aug. Heinze, had bought in some of this
stock and that the Heinze interests re-
fused to accept the stock because of the
ma III which II had been placed on
the market United Copper common
which closed at SIS yesterday. opened at
SO today and during the excitement of
the AFTERNOON went as low as SO from
which II recovered to SIS before the close
Inc preferred stock. which before TODAY
had been quoted at S74. reached the low
point of SO for the day. Trading In
these stocks was continued to the curb