The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-03-05
sN0WsT0RM0PI|0N ON M|SSOU[AC0PPER.
CREATES SENSATION IN STOCK MARKET.
TERMS OF DEAL ARE DEFINITELY kNowN-o1HER coppeH
STOCKS SHOW GREAT ACTIVITY AND THE MARKET
REMAINS REMARKABLY STEADY

After years Of dull inaction, apathy
and Indifference, the Occur dAlene
mining stock market suddenly sprang
into life last Friday and for several
days the scenes around the principal
brokerage offices reminded one of the
old days when there was steady and
active demand both locally and on the
outside for Coeufs d'Alene mining
stocks The immediate cause for this
sudden furry in copper stocks was
the announcement from Spokane that
the heavy stockholders in Missoula
Copper, representing more than ma
jority of the stock, had pooled their
holdings, amounting to upwards OF
100000 shares and had given the
Snowstorm Mining company an option
for one year at 60 cents per share
When it is understood that Missoula
Copper could have been bought at any
time for many months past at or
cents and possibly less, the sensational
effect Of this news may easily be i'm
agined. Brokers were deluged with
orders for Missoula Copper from both
local and outside customers, until
Monday when it reached it's highest
point, 16 cents. A few sales were made
ut that figure, but since then there
has practically been none on the mar
ket. Much Of that on the market, in
fact most Of it, has now been placed
in the pool, which now amounts to up
wards Of 100000 shares.
Other Stocks Advance.
1t has been a great day for Occur
d'Alene coppers. The fact that Snow
storm held an option on Missoula
Copper naturally brought Snowshoe
and Lucky Calumet, which lie between
the Snowstorm and Missoula Copper,
to the front, and also Copper King,
which joins Missoula Copper on the
west Shares in all three of these
quickly advanced from nominal
value to from Az to cents and heavy
sales were made in each Of them
Trading is still active in these stocks.
and the market has been strengthened
by IAN unconfrmed rumor that the
Snowstorm option on Missoula Copper
contemplates a consolidation with the
Lucky Calumet, and Snowshoe, the
three properties to be developed as one
by a long tunnel that will open them
all at great depth. Some credence Is
given to this report by the fact that
last Sunday some one, presumably the
Snowstorm, took over 100000 shares
of Lucky Calumet treasury stock and
that as a consequence active develop
ment Of that property will begin with
out delay. Whether Copper King is to
he included in the rumored consolida-
tion is not known, but the stock re-
.nu.ns strong at Az to 5. Whether 1t
is in the deal or not, 1t is in a posi-
tion adjoining the Missoula Copper
, and National to profit by the pending
operations
What the Option Means.
The option taken by the snowstorn
runs for one year and Is of course
subject to confirmation by the direct
ors of the company. A call has been
issued for a meeting of the directors
to be held in about two weeks to take
action, and there can be no doubt thai
the option will be ratified, as at least
four Of the directors participated ir
the negotiations. 1t has been impos
sible to get clear statement OF tn
terms of the option. Indeed If thu
language of one Of the interested par
ties Is not misunderstood, the holders
of a majority of Missoula Copper stocl
have pooled their interests for on
year and during that period the Snow
storm guarantees to bid so cents pc
bid is made the Snowstorm is to b
given the stock at that price. But I
is explicitly stated that the stock /
open for bids from others and tina
the Snowstorm has no exclusive agree
ment to get the stock at the fgur
named. 1t is also intimated that con
ditions might come up under whic
the pool could be dissolved.
The stockholders in Missoula Cop
per who originally formed the pool ar
H. f. Cheney and c. A. Barnes of Mis-
soula; c. f. Mallette and Mr. Broad {
Spokane; ]. r. Bean, Henry Bilberl
Larry Dooling and r. ]. Mcleod
Mullan and w. r. Mullen of Wallace
These men represent in round figure
100000 shares. The company is cap
italized for 100000 shares Of whic
1,0S00OO are issued
Big Body Of Ore.
The peculiar thing about the deal
that for several years 1t has bee
known that good body of low grat
copper ore had been exposed In nv
soula Copper A few weeks ago Will
a couple of men were working up the
a report came down and was publishe
that a strike had been made whic
showed ore of better grade, but
attracted little attention. It was fr
cuertIy commented that Missoula Col
rcr had identica]ly the same charact
NJ ora as tfe National and that II