Show r.- r. SCHWAB I IN DEAL f. f Middlemen Hoped to Turn Bingham Properties to Steel Magnate 1 OPTIONS ARE SURRENDERED i Wo tIo Longer Any Question That r v Copper Glance Deal Is Off c f T 1 While the options upon the proper proper- tes entering Into g mated Copper deal did not expire until May ay it 20 O it js Is known the they were surrendered by the holders holders' last 1st so that no longer is 1 r a question that the deal is oft off It IL develops luit the man lo to whom proposition for the purchase of ot the properly was ts submitted was 4 no than Charles M. M Schwab It aft develops that while the inter intermediaries I ho eh the deal satisfied the Amalgamated people as asto to their responsibility tI y yin 3 in reality bent upon uon securing for nothing an au option which they might bight be bt able to tuLI over to at perhaps in iii excess of ot what tile they were to pay laY for or it TIn The dollars talked business front rout ov ry except involved in- in tho putting up of old ci cah h. h 1 the paying of ut money as an earnt earn earn- t Of C their good WitS was i they invariably for foi 7 w tim aiu anil got It It Is not that they were f to use the magic naun of the steel magnate to Just the extent of pt J enough 1 to land the option i thy money K Ia 1 It Jt 1 Is not l dot down ui the tho proposition hui bui It is likely he could not cc ee Ti it lie 0 for quick exploitation that he heIs Js Is looking for in of the experts who examined the proper lea W wen wen- L I favorable and were highly satisfactory to to the tho mid mid- c They TC served also aIst to convince time the thir properties tint that they have hae a better than I knew 31 i t Is known that the larger of f ar are sincerely i. i gratified that the deal was not made They believe That in of the turndown turn down tIme they In ha position now to In go gil ahead and develop a big mino thereal the real merit miri of the properly been tt I-tt t In the least liast Impaired c- c tho only reg feature f the fiasco llico Is Is' IstRe tRe effect It hn had hadstock stock Involved that Is In lime of the trading public Copper Glance wa wa- F some mv time flame ago agOg merged into hiP tue its shares being k exchangeable for fot those hose of the greater t company on th the basis of two tot for one MIC Amalgamated was being sold 3 fr P a a. share which In the event i of tit the deal being concluded would ha have o made Copper Glance worth 1 2 1 cents i- i J I There was heavy buying buying- of of- Copper lance on tIe the strength of the option having beyn taken and time the stock for it Ground 30 cents a share Then when it Ii became known that the thu thur r deal was vas ti he declared oil off there as just as heavy selling antI and this unloading un no- 4 loading coming at a time when nearly ajl stocks were vere on the decline resulted J In sending Copper Glance far below bolow i L It actual worth on the showing of the theL L properly the tite low point of 10 1 2 1 cents having been cn reached yesterday |