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STOCKS TOOK SLUMP rB irF.S CRUMBLED AWAY FOB NO APPARENT CAUSE. further gold shipments mU ' have been a factor though not the only one. Rniuurs Current That Combinations H<l Been Formed to Raid Market. p al y Way In W'hlch Amalgamated Coi>l ,er Succumbed to Attack* (~I P Ground to These Report*. Decline* Ran Generally from 2 to Over s Points. Sew York. Dec. 7.—To-day's violent 9 iurm> in the st ooll market came upon the sanguine speculative element like a holt from the blue sky. Th. crumbling of prices led to the usual industrious efforts to assign a cause in some new developments In affairs that might be an index of a de cline m the prosperous conditions of business and industry. There was no such news forthcoming. There was a rise in the call loan rate in the day to the highest of the season, but this seemed to be as much an effect as a cause of the fall In prices. It was not learned that there had been any calling of loans or re striction of credits to precipitate the break, but the expectation of further gold engagements for export was con firmed. and there were remittances through the sub-treasury of a million dollars to San Francisco and of $200,- OOh to New Orleans. Mach attention was paid to the fly ing rumors of the attitude towards the market assumed by important financial powers. Humor* of Raids. The sharp losses which were suffered gave spirit to some of the assertions that combinations had been formed to raid the market, and that some of the advertised attacks on special proper ties of the last few days really rep resented a deeply laid plot which had the backing of great capitalists. The easy manner in which Amalgamated Copper succumbed to successive at tacks was the ground for these asser tions. NEW YORK STOCK AND BOND UST Railroad Stock.*, Atchison 85% Atchison preferred 102% Baltimore and Ohio 98 Baltimore and Ohio preferred 94 Canadian Pacific 130% Central of New Jersey 192 Chesapeake and Ohio 48 Chicago and Alton 41 Chicago and Alton preferred 80 Chicago and Great Western ...... 22% Chicago nd Northwestern 206% Chicago, Mil. and St. Paul 171% do do preferred 182 Chicago Terminal and Trans 13% do do preferred 23% C., C.. C. and St. Louis 89% Colorado Southern 20% Colorado Southern Ist preferred .. 58 Colorado Southern 2nd preferred . 31 % Delaware and Hudson 186% Delaware, Lackawanna and West.34o Denver and Rio Grande 32 Denver and Rio Grande preferred. 86 Erie 38 Erie. Ist preferred 74%, Erie 2nd preferred 55% Hocking Valley preferred 92% Illinois Central 153 lowa Central 30 lowa Central preferred 55% Kansas City Southern 28% Kansas City Southern preferred .. 50% Louisville and Nashville ....142% Manhattan L. 167 Metropolitan Securities 80% Metropolitan Street Railway ......122% Minneapolis and St. Louis 61% Minn.. St. P. and Sault Ste. M... 88% do do preferred ; 145% Missouri Pacific 108 Missouri, Kansas and Texas 32 do do preferred 62 Natl. R. R. of Mex. preferred .. 41 New York Central 138 Norfolk and Western 75% Norfolk and Western preferred .. 90 Ontario and Western 41% Pennsylvania 136% Pittsburg, c. p. and St. Louis .... 75% Reading 77% Reading Ist preferred 90 Heading 2nd. preferred 80 Rook Island Company 34% nock Island Company preferred .. 53% . t. Louis and San Fran. 2nd. pref. 67% ct. Louis Southwestern . „ 25% ct. Louis Southwestern preferred. 56% Southern Pacific 63% Southern Railway 35% Southern Railway preferred 96 Texas and Pacific 35% Toledo, st. Louis and Western .. 35% do do preferred 54% Vnion Pacific 11l ] cion Pacific preferred 94% ''abash 22% Vabash preferred 44 Wheeling and Lake Erie 18% Wisconsin Central 22% ~ is < onsin Central preferred 45% Mexican Central 21% ‘ outhern Pacific preferred 116% EilircM Companies. Adams Express 240 American 210 United Stales 112 Mills Fargo 240 MlHcellnneou*. Amalgamated Copoer 68% ■American Car and Foundry 32% 'Jo do referred 91% •Jim-M, ;,,, r oU on Oil 35% •Amm an Cotton Oil preferred ... 94 American j ce 7^ merli-an Ice preferred 37% Am-ri, an Linseed Oil 17 mrrican Linseed OH preferred .. 38 Am-c ran locomotive 3* ie-rlcan locomotive preferred ..102 mpri. an Smelting and Refining . 78% . ' Preferred 111% sugar Refining 141% rr‘ Mining Company 90 c';r,’ kl T n Transit 63% " ,Fuel and Iron 48% mandated Oas 210 ~ r " Products 22% IUl!„ P "' ,luct * Purred 79% l ", n * Purities 38% miai Bleetrlo 186 j r 'tlonal raper 20% j 'imtlonal Paper preferred 77 ' "iitlmml Pump preferred .... 85 x Lead 23% P, \merican 101% !■;; \ Man % Ole s Qua 107% r ,r. '! Car ••••*. 36 }•„ s '' >p| ‘'ar preferred 89% PalWt Car !.5 . i'M< Hte#t iRU ':7i l | ) ! , ' l ' r ßt,! f 1 Preferred '.'.'.'.'.!! 68 T. preferred 95 ’ : < ?°* , * nd Iron 71% v ' ? ut * Leather 16% 1 (tin a! litm Leather preferred..lo*% i Rubber ; 31 , ' • tales Rubber preferred .91 * elates Star) {3% M .Is'' k""** l'f of erred .... 91% V .. "“h'/use Electric 178% rn union 61% ••ads, • * 'funding 2a, rogielered .. 194% Much importance was attached by the hurt speculators to a dinner and ? C9 ° f ra) lroad captains which took place here last night and which, ney supposed, adopted alarming con r!!ia° n * over the P ros Pect for the rail roads afforded by the President’s rec ommendation to allow the Interstate Commerce Commission power to flx freight rates. Some Big Slump*. The tumble in Amalgamated Copper r ,aS -.fr 0m at the closing last night, to bs% near the closing to-day. The declines in sugar. Tennessee Coal. Col orado Fuel, Lackawanna and some oth er special stocks ran from 4 to 15 points, but aside from these it is hard ly worth while to detail the declines, which ran generally from 2 to over 3 points. The closing was weak and not far from the lowest under the influence of renewed breaks in Amalgamated Copper and Sugar. The few points of strength in the morning session were swept into the downward current. Bond* Felt Change. Bonds yielded in sympathy with stocks. Total sales, par value, $7,820,- 000. United States bonds were un changed on call. Total sales of stocks were 2.426,100 shares, including: Atchison, 31,200; Baltimore and Ohio, 43,200; Canadian Pacific, 12,900; Chesapeake and Ohio, 9,300; Chicago Great Western, 11,700; St. Paul, 36,700; Erie, 96.500; do first preferred, 24,600; Illinois Central, 16,300; Louisville and Nashville, 29,300; Met ropolitan Street. 9.100; Missouri Pa cific, 34,100; New York Central, 10,000; Norfolk and Western, 8,900; Ontario and Western, 5.600; Pennsylvania, 113,- 600; Reading, 132,700; Rock Island, 43,- 900; Southern Pacific, 131,600; Southern Railway, 59,100; Texas Pacific, 5,200; Union Pacific, 150,900; Wabash pre ferred, 7,100; Mexican Central, 5,400; Amalgamated Copper, 338,500; Amer ican Locomotive. 6.100; Smelt ing, 17,700; Sugar, 35,300; Brook lyn Rapid Transit, 24.000; Colo rado Fuel, 43,100; International Paper, 6,100; People’s Gas, 19,100; Rubber Goods, 22,000; United States Leather, 126,200; do do preferred, 13,100; United States Steel, 211,100; do do preferred, 172,600. MONEY MARKET. New York, Dec. 7.—Money on call, strong, 3@4% per cent., closing bid, 3>4; offered at 3%. Time loans, easy, sixty days, ninety days and six months, 3%@4. Prime mercantile paper, 4@ 4% per cent. Sterling exchange, steady, with actrfal business in bank ers’ bills at $4.86.35@4.86.40 for de mand and at $4.83.80@4.83.85 for sixty day bills. Posted rates, $4.8414 and $4.87%. Commercial bills, $4.83%® 4.83%. Bar silver, 59%c. Mexican dol lars, 48c. do do refunding 2s, coupon 104% do do 3s, registered 104% do do 3s, coupon 104% do do new 4s, registered 130% do do new 4s. coupon 131 do do old 4s, registered 105% do do old 4s, coupon 106% Atchison general 4s 102% Atchison adjustment 4s 94% Atlantic Coast Line 4s 99% Baltimore and Ohio 4s 102% Baltimore and Ohio 3%s 96% Central of Georgia 5s lli% Central of Georgia Ist income .. 91 C. of Ga. 2nd inc . 72% Chesapeake and Ohio 4%s 107% Chicago and Alton 3%s 82% Chieagb, B. and Q. new 4s ..;.. 100 Chicago, M. and St. P. gen, 4s ..110% Chicago and N. W. consol 7s 128% Chicago, R. I. and P. R. R. 4s 80% C., R. I. and P. R. R. col. 5s 93% C., C., C. and St. Louis gen. 4s. 100% Chicago Terminal 4s ............. 84% Consolidated Tobacco-4s 83 Colorado and Southern 4s 90 Denver and Rib Grande 4S ...... 101% Erie prior lien 4s 101% Erie general 4s 92% Fort W. and D. C. Ist ..... 108% Hocking Valley 4%s ill Louisville and Nash. Unified 4s 103% M. and O. c. t. 4s, closing ........ 97% Manhattan consol gold 4s 105 Mexican Central 4s 76% Mexican Central Ist income .... 22 Minn, and St. Louis 4s 97 Missouri. Kan. and Tex. 4s .... 100 Missouri. Kan. and Tex. 2ds .... 85% National R. R. of Mex. con. 4s 81% New York Central gen. 3%s 100% New Jersey Central gen. 5s 136% Northern Pacific 4s 105% Northern Pacific 3s 75% Norfolk and Western consol 4s. 101 Ore. Short Line 4s and Partic... 103% Pennsylvania conv. 3%s 103% Reading general 4s 102% St. L. and Ir._ M. consol 5s 115% St. L. and San Francisco fg. 4s 89% St. Louis S’western lsts 97% Seaboard Air Line 4s 85 Southern Pacific 4s 93% Squthern Railway 5s 119% Texas and Pacific lsts 119% Toledo, St. L. and Western 4s .. 83% Union Pacific 4s 106 Union Pacific conv. 4s 11l U. S. Steel 2d 5s 91% Wabash lsts 117% Wabash Deb. B 67 Wheeling and Lake Erie 4s .... 93 Wisocnsln Central 4s 92% Va.-Ca. Chemical 41 do do preferred 111% New York, Dec. 7.—Standard Oil, 637. Baltimore, Dec. 7.—Seaboard com mon. 18%@18%; Seaboard preferred, 37%®39. Atlantic Coast Line common, 152@ 153%. LOCAL FINANCIAL MARKETS. The following are the Savannah Cotton Exchange quotations: FOREIGN EXCHANGE—SterIing steady; commercial demand, 4.86%; sixty days, 4.83%; ninety days, 4.82%; francs, barely steady; commercial de mand, 6.17; sixty days. 5.19%. Marks, commercial demand, 95 7-16; sixty days. 94 11-16; ninety days, 94 7-16. DOMESTIC EXCHANGE—Buying at 75c per SI,OOO discount; selling up to S6OO a graded charge of 10c to 45c; over S6OO at rate of 75c per SI,OOO pre mium. • Bank Stock*. Bid. Asked. Chatham Bank 84 Citizens Bank 160 Commercial Bank 109 FINANCIAL, WARE&LELAND, BROKERS. l EMBERS Sen York Cotton Kxclinng* Chicago Board of Trade New Orleans Cotton Exchange. New York Coffee Exchange St. Lotila Merchants’ Exchange Milwaukee Chamber of Commerce Local Office 42 Bay Street. EaaL Private wire* to principal cities. K. R. OWEN. Manager. Reference—Mercantile Agencies. JOHN W. DICKEY, Stock and Bond Broker, AUGUSTA, GA. Write tor Met. SAVANNAH MORNING NEWS: THURSDAY. DECEMBER 8. 1904. JOSEPH D. WEED, President. WM. P. SIcCACLEY,Vice President. SAMUEL L. CLAY. Cashier. Savannah Bank and Trust Go. SAVANNAH. GA. Solicits accounts of Indi viduals. Firms, Banks, Bank ers and Corporations. Buys and sells Foreign Ex change. Savings Department Interest paid or compound ed quarterly. Correspondence invited. Chatham R. E. and I. Cos 54% ... Germania Bank 150 Southern Bank 171 Merchants National 8ank....110 The National Bank of 5av..170 Oglethorpe Sav. and Trust ..127 People’s Saving and Loan ..100 102 Savannah Bank and Trust .138 ... Savannah Trust 107 Railroad* and Indnntrial*. Bid. Asked. Augusta and Savannah ....117% Atlanta and W’est Point ....155 156 do 6 per cent, certif 109 110 Chat, and Gulf stocks 11l 112 Central Ice Georgia Telephone and Tel egraph 85 Georgia Brewery 92% 100 Macon Ry. and L. pref 84 do common 25 Georgia Railroad, c0mm0n..253 255 Planters’ Rice Mill 95 Propeller Towboat 96% 98 Savannah Elec, preferred ... 85 Savannah Elec, common .... 16 18 Savannah Hotel Company... 66 70 Southwestern 117 ... Southern Railway pfd 97 97% do do common 37 37% Savannah Brewing, ex-div... 100 102% Savannah Cotton Exchange. 65 70 Hnnd*. Chat, and Gulf R. R. 5 per cent. Ist mortgage 103 104 C. of G. coll, trust 11l 112 C. of Ga. cons 111% 112% C. of Ga. Ist incomes 91 92 do do 2nd incomes 72% 73% do do 3rd incomes 61% .. G. S. and F. 5s 115 Georgia State 3%5, 1930 ....108 110 do dp 3%5, 1915 104 106 do do 4%5, 1915 114 115 Macon Ry. and L. bonds .... 94 95% Jacksonville Electric 5s .... 95 97 Ocean Steamship ss. 1926 108 Savannah city ss. 1913 108 110 Savannah city ss, 1909 104% ... Southbound 5s 112 S. A. L. common 19% 20% do do preferred 39% 40% Savannah Electric Cos. 55.... 95 97 Eatonton 11l 112 MARINE INTELLIGENCE Savannah Almanac, ?Sth Meri dian, City ’lime. Thursday, Dec. 8. Sun rises at 7:12 a. m. and sets 5:21 p. m. New moon, sets 6:39 p. m. 'High water at Tybee tb-!day at 8:2.5 a., m, and 8:50 p. m. High water at Savannah one hour later. Low water at 2:12 a. m. and 2:50 p. m. ARRIVALS AND DEPARTURES. Sailed. Steamship City bf Columbus, New York. Steamship Merrimack, Philadelphia. SteVimship Cape Comino, Bremen. Schooner Wm. K. Park, Philadel phia. Schooner C. C. Wehrun, New York. Schooner John Paul, New London. Shipping Memoranda. Fernandina, Fla., Dec. 7.—Sailed, steamer Hermine, Russanich, Savan nah; schooners Millie R. Bohannon, Smith. Philadelphia; George M. Gr*ant, Hilton, New York; Florence Leland, Holden. New York; James Lockwood, Hathern, Boston; Laura C. Anderson, Higbee, New York; bark Emita, Remel, Fall River. Port Tampa, Fla., Dec. 7.—Arrived, steamer Olivette. Turner. Havarta, via Key West; steamer Trignac (Fr.), Da lon, Wilmington. Jacksonville. Fla., Dec. 7.—Arrived, steamers Algonquin. Staples, New York, and cleared to return: George Farwell, Chisholm, Charleston; Well ington, Neilson, New York, with barge in tow; schooners Linah Kaminski, Hansen, New York; Jennie Richter. Crossley, Philadelphia. Sailed, steamers Apache. Staples, New York; New' York, Hale, Bruns wick: schooner John S. Hoskins, John son. Baltimore. Key West. Fla., Dec. 7.—Arrived, steamers Denver. Evans, New York, and sailed for Galveston; Miami, White. Port Tampa, and sailed for Havana; Mascotte, Allen, Port Tampa, and sailed for Havtana; schoolshlp Hartford. Veeder, Fort Monroe. Charleston, S. C., Dec. 7.—Arrived, schooner Bradford C. French, Rawding, Sagua Le Grande. Sailed, steamer Sidra (Br.). Freeman, Savannah; schooners Beulah McCabe, Maxwell, New York; W. W. Converse, Nickerson, New York; Fred A. Daven port, Kimball, Alexandria. Va.: bark Essex. Smith. New York: revenue cut ter Dexter, Thompson, San Juan. P. R. • Beaufort, S. C., Dec. 7.—Sailed, Chew haw river, schooner Harris P. Shears, New York, Dec. 7.—Arrived, steamer Arapahoe, Jacksonville and Charles ton. Sailed, steamer Avrlstan, Savannah. Havre, Dec. 6.—Arrived. Cttta Dl Nuova Orleans, Savannah. Bremen, Dec. 4.—Sailed, Lord Duffer in, Savannah; Dec. 6, Henry Horn, Jacksonville. Notice to Captains of Vessels. Vessels arriving at night will be re ported at the Morning News In Its dispatches, without charge, if captains will confirm reports of their arrival to No. 341, either telephone. ocean FREiuirra. COTTON—Savannah to Boston, per 100 pounds, 25c; to New York, per 100 pounds. 20c to dock; 2Se lightered; to Philadelphia, 20c per 100 pounds; Bal timore. 20c per 100 pounds. COTTON— Foreign direct to Liver pool, 28o; Manchester, 2*c; Bremen. 24c; Hamburg. 24c; Rotterdam, 2c; Barcelona, 39c; Havre. 86c; Antwerp, 29c. LUMBER—By Sail- Freight, actlva; to Baltimore, 15.00; to Philadelphia 14.75; to New York. 55.62%; to Port land. 56.00. LUMBER— By Steam— *e van nab to Baltimore, 56.1*0. to P. K. R. or H. and O. Docke. 56 90; to Philadelphia, 56.90; to New York, 56.25 per M. to dock; lightered. 51.90; to Boston, to deck (tit. Amalgamated Stockholders-Warning 11 * From the creation of Amalgamated I have contiwiously believed in it* worth and constantly advocated the pur chase of its stock. Henry M. Rogers personally negotiated with Mantua Daly for the properties which went to make up tUa Amalgamated Company. Henry H. Rogers alone knew absolutely their value. [ Henry H. Rogers’ associates took his word for them. While they cost Messrs. Rogers, Rockefeller and associates only $39,000,000, we all believed they were worth more than the 175,000,000 at which they were sold to the public. Shortly after the public flotation at SIOO per share, the stock dropped to 75. I did all in my power to prevent the decline, losing millions in the effort, but I retained my faith in the rea*l worth of the property. Some of the insiders made millions; the public was fleeced of millions. I still refused to be discouraged. I urged Messrs. Rogers and Rockefeller to make good their promises mnd through me to the public. Finally they consented. The stock advanced until it sold at 130. At the highest price I was still buying and advising its purohaw*. Then there came the awful slump which slid the stock down to 33. I lost enormously; insiders made vast profits. The public was again fleeced. At 33 I began anew campaign to induce my followers and the public to buy. Asa result there were purchased by hundreds of people all over the country, directly and ludlrectly through me, rising 2(50,000 shares, at an average of 40 to 42, and probably hundreds of thousands more which T could not. trace. This campaign T have prosecuted incessantly up to the present time, until now I estimate the public holds 000 shares, 700,000 of which show at to-day’s price, 82, a profit of $28,000,000. When my story, “Frenzied Finance,” began, 1 advertised that it could do no damage to Amalgamated stock, bat would help it. i Hoping to divert the dangerous disclosures T threatened, the leading attorney of Messrs. Rogers and Rocke feller asked for a conference. At it he demanded of me what I expected to accomplish. I replied, “One thing, at least.—to put the price of Amalgamated back to 100, that those unfortunates who still retain their stock may re cover their money.” Then the secret was revealed to me that Amalgamated was not worth anything like the price at which it had been sold to the public. T said, “How can this be?” ■ j ' He answered, “Mr. Rogers knows for a certainty that Marcus Daly deceived him about the worth of the properties.” I had great faith in this attorney. He was sincere in what he said; his knowledge and relations were such he could not have been deceived, and his special information about this property was such that he could speak in tha first person. I believed him. Soon afterwards another official of Amalgamated confirmed this statement. W’hen I received this information my dilemma was a terrible one. If I gave it to m.v following, they would at once throw over their stock, probably at a great loss. I waited. Sooner or later I knew these men would get behind the market, push up the prices of the stocks they had gathered in at bottom figures, and, wheu the moment was ripe, again unload on the public. \ The market “came in.” I did all in my power to assist in raising the price of Amalgamated, f" To-day’s situation is the same ns that of 1901. “Frenzied finance” stock gamblers have accumulated immense linos of Amalgamated. The same sensational rumors of a great rise to come flood Wall and State streets as in 1901. They have asked me to join in creating a wild market upon which all the Amalgamated taken in at lower prices may be turned out upon the public. It would be millions in my pocket to assist, but— ’ * i I see the handwriting on the wall, which the “frenzied financiers” of Wall Street do not yet see. It reads: ! “The people will not stand plundering any longer,” And 1 have decided. f I advise every holder of Amalgamated stock to sell his holdings at once before another crash cornea. Another slump may carry it to 33 again, or lower. It may go higher, bnt this is no affair of mine. From the moment of the publication of this notice all those who have looked to me for advice must relieve me of further responsibility. As the people who look to me for advice are scattered all over this country, I know of no other way than this to simultaneously notify them of what I have learned. IF THE POWERFUL PEOPLE WHO MANAGE AND CONTROL AMALGAMATED, AND WHO, AFTER SELLING IT TO THE PUBLIC AT SIOO A SHARE, ALLOWED IT TO SINK TO |75 AND AFTER IT HAD ADVANCED TO 130, SMASHED IT TO 33, REGARDLESS OF THEIR SACRED PROMISE TO ME AND THE PUBLIC THROUGH ME. NOW REVEAL TO ME THAT IT IS NOT WORTH OVER 45, IT IS INEVITABLE THAT IF THEY ARE HONEST IN WHAT THEY SAY, THE STOCK MUST GO THERE OF ITS OWN WEIGHT, IF THEY ARE NOT HONEST, THEY WILL PUT IT THERE ANYWAY, AND LOWER STILL. I WOULD HAVE WAITED UNTIL THE RECKLESS SPECULATORS WHO ARE NOW MANIPULATING THE MARKET HAD PUT THE STOCK HIGHER, BUT I DID NOT DARE.. DURING THE PAST TWO DAYS I HAVE DETECTED UNMISTAKABLE SIGNS THAT THE VULTURES ARE GATHERING FOR THE FEAST. In the past I have told what I thought I knew about Amalgamated; from to-day I Khali tell what the men who control and manage Amalgamated nay they have found out about it. No stockholder should, after this fair notice, object or accuse me of trying to injure the property, even though I be compelled to begin court proceedings based on this information so lately revealed to me. This advertisement and my mailed notices will appear in New York and Boston Tuesday, December 6th; in tha eastern and middle portions of the United States Wednesday, and the balance of the country, Canada and Europe Thursday, and I shall wait until Friday, that all may have ample time to dispose of their stock, if they care to, before making my next move. EVERY HOLDER OF AMALGAMATED MUST KEEP BEFORE HIS EYES THIS ONE TREMENDOUS FACT: HIS PROPERTY IS NOW ABSOLUTELY AT THE MERCY OF MEN WHO HAVE THE MARKET IN THE HOLLOW OF THEIR HANDS. AND WHO IN THE PAST HAVE RAISED THIS STOCK TO THE HIGH EST AND THEN DROPPED IT TO THE LOWEST WITHOUT HEED OR CONCERN BUT FOR THEIR OWN! POCKETS. COPPER RANGE Since Copper Range Consolidated sold at 12 I have advised its purchase. To-day it sells at 70. 'All who have followed my advice have made immense profits. Copper Range has 385,000 shares; Amalgamated 1,550,000. | Copper Range is anew property at Lake Superior, consisting of three immense mines and a railroad, with the latest and most complete plant in the world, including its own smelters. It is the largest and richest copper mine discovered and developed in the past twenty years. It is producing now 40,000,000 pounds of copper annually, and will in the near future become the largest producer in the world. Amalgamated pays 2 per cent, in dividends. Copper Range will pay per cent, in the coming year, and continue to increase, to what limit no man can tell. If the present market tor copper, the metal, holds at 16 cents, and the best judges think It will probably go higher, Amalgamated should increase its dividend* to 4 or 6, but with 16-cent metal Copper Range will earn and pay 8, 10 and 12 per cent., and upwards. The curse of Amalgamated has been “Htandard Oil” management. Copper Range has been, and is, directed and controlled by representative Boston copper men, who seek their profits in the mine und not in the stock market. THOMAS W. LAWSON. Boston, December 6, 1904. 11