Show MANY FLEECED IN BUTTE FLOTATION FL TATION The Development com corn company company pany bubble has burst and several thousand stockholders in Butte and else elsewhere elsewhere where here have rudely been brought to real ize that they are victims one and all says Bays the Anaconda Standard It Is claimed In Butte by friends of ot the promoters that they were also vic Ic I time tims and that the character of the mines was not known to them until after the first payment had been made on the property by the new company For a long time there have been very ugly reports in circulation about the former management of ot the company and the flotation To iTo I answer some seine of these thelle lib Ill reports John JohnC C former president of ot the company pre pit prepared p pared a statement which appeared in inthe Inthe inthe the Standard Aug 4 in which the con conditions conditions conditions at the property were presented in a very inviting manner and which said that there is now in the treasury about which Is ample to pro provide provide provide vide for further development and equip equipment equipment ment and new additions to the milling plant so that hereafter profits can be used for dividends About that time a number of dissatisfied dissatisfied fied tied stockholders insisted on the elec election election election tion of a new board of directors and manages manager and John Gillie Guile general su en superintendent auperin perin ten nt of the Amalgamated mines was selected sele ed to accept the presidency and Charle Charles W Goodale general man manager manager ager agel of the Boston Doston Montana company camp an was wag elected Vice president Mr Gillie GUIle and Mr Goodale have just completed an exhaustive examination of the Barnes King mines spending nearly a week there and they have joined d in an oUt oUI official cia cial report to the he stockholders which was made public last Rumors of what the report would contain were we w e out outon outon outon on Monday and resulted r In a rush to unload stock and the price quickly fell from 2 per share to 91 cents at which latter price sales were made In Butte Many thousand shares were thrown on the market In jn New York and probably as many more In Boston and thousands of shares more are ale listed for sale The Development com corn company company pany was capitalized for OOOO in shares at o 5 each and in the under underwriting underwriting underwriting writing every share was offered by the promoters and greatly oversubscribed Butte alone subscribed about and a great Ireat deal of the money was re ra returned returned turned after the allotment had been made In New York President Gillie Guile and Vice President Goodale report that the net value of the theore theore theore ore In sight in the mines is |