Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-01-08
Days Financial
News and Gossip

property from the Tamarack Mining
Co. affords the Tamarack Mining Co.
an attractive opportunity to free itself
from heavy floating Indebtedness,
while, at the same time, the stockhold-
ers are given an opportunity to retain
their pro rata interest in the Cliff
property. The Cliff lands are several
miles north of the old Tamarack and
there is no operating or financial adj
vantage to be lost by a separation of
the two properties.
w. 7. Munroe of the Bitter Root VAL
ley Irrigation Co. is stopping at the
Parker House in Boston.
Mr.. Munroe says that the average
citizen of the East would open his eyes
in amaZement if he could take a trip
from Missoula Montana, 10S miles
through the Bitter Root Valley to OAR
by. The wonderful work accomplished
by irrigation and modern methods
would amaze the Fastener.
Five years ago this tract of land 103
miles wide and 10 miles long was bar
rem. A group of Eastern capitalists in
vested millions in the irrigation pro-
ject in this valley.
This Bitter Root Valley Irrigation Co.
is the largest irrigation fruit land pro-
ject in the world and the only large one
that develops it's own land on a big
scale.
Vast sums will be realized on the ap-
pie yield alone, as they can be grown
here under ideal conditions.
Butte, Mont.-The concentration of the
Boston & Montana mine at Great Falls,
Mont, commenced operations last
night on ore, and trains of ore now on
the road have started moving tward
the smelter. 1t is expected that the
smeltcr will be able to resume opera
tons in few days.
ChicagO--The Swift & Co. annual re-
port shows gross business in the year
ended Sept. 80, 1909, was in excess of
$3.50, 600 900, or S1O,00OOO0 more than in
the previous year, and about the same
as in 1907.
Butte, Mont.-The Anaconda Co. is
still mining some very high grade ore
on the 2200-foot level, but the richest
body opened a few years ago has been
mined out. although it is not likely that
other equally god bodies will be opened
in the vein on that level. The orc now
coming from the 2200-foot level aver
ages between per cent. and per
cent copper. On the 24O0-foot level the
vein has not been thoroughly opened
yet and a big rich ore body is practi-
cally there yet.
In asking for the appointment of a
receiver for the Montana Coal & Coke
Co. the International Trust Co of Bos-
ton alleged insolvency on the part of
the company and inability tn pay its
debts Walter j. Bradshaw was ap-
pointed receiver under bond of $4,000
and an injunction has been issued to
prevent the company from disposing
of any of its assets. The Trust Co.
seeks to foreclose on the trust deed.
Boston-While the North Butte di
rectors as individuals may have their
minds made up as to what their atti-
tude will be regarding the dividend
when the question comes up for official
discussion, the board has not yet con-
sidered the matter.
A reduction in the rate is considered
a strong possibility, but that the divi-
dend will be passed is not believed
probable.
The Cole-R interests, together
with the Giroux family. hold absolute
control Of the GirouX Consolidated
Mines Co, and as these two interests
are closely allied. it would be impossi-
BILE for the Guggenheims or any other
interest to acquire control except from
them.
New YOrk-Thc recent issue of $780,
600 Philadelphia Co common stock. Of
r II
derwritten by a London syndicate
headed by the Swiss Bankverein. with
a view to effecting introduction of this
stock in the London market.
United States Rubber Co. has de-
clared regular quarterly dividends of
per cent. on the first preferred and
~ per cent. on the second preferred.
payable Jan 81. Books close Jan. Is, re-
open Feb. g
No action was taken regarding re-
sumption of dividends on the common
stock.
The tangled traction situation in
New York City will doubtless be forced
by the merger of the Guaranty Trust
Co., the Morton Trust Co. and the
Fifth Avenue Trust Co. The Morton
Trust Co. is trustee for the holders of
the SIG, 100000 refunding bonds of Met
ropolitan Street Railway and the
Guaranty Trust is trustee for the hold
ers of the 1880, 900 general collateral
bonds.
The average price of 20 active stocks
at the close Thursday was 1855, an
advance Of .32 compared with Wednes-
days close. A year ago the average
was 1883