The Comical History Of Montana; A Serious Story For Free People Being An Account Of The Conquest Of…

Paperback | January 10, 2012

byJerre C. Murphy

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1912. Not illustrated. Excerpt: ... Wild-Cat Era In Banking and Stock-Jobbing In 1905 there was inaugurated at Butte an era of wild-cat operations in banking and stock gambling, during which the craze to get rich quick became epidemic and grew in violent intensity until it culminated in the financial ruin of most of its victims with the Wall Street panic of 1907. Within these three years more than 150 mining companies were organized in or about the Butte mining district, no one of which developed a paying mine. The aggregate par value of the stocks of these companies exceeded $200,000,000. These worthless tokens of promised prosperity were peddled wherever foolish people with funds to buy could be found throughout the United States. It never can be told how great a tax was thus levied upon folly to be paid by industry. Bankers became stockbrokers, barbers were promoters, cigar peddlers were changed to officials of $5,000,000 companies, newspaper reporters were transformed into mine experts and "mining editors" in a day, wage-earners made permanent investment with sole regard for the future, gamblers neglected their professional duties for the easier and faster game in which everybody was winning. That distinguished county in Indiana, once described by a Chicago promoter, where nobody could sell a gold brick--"because everybody had one", possessed little if any advantage over Butte when this mining stock boom was done. Of course the mad rush to secure much for little, or something for nothing, was not confined to Butte within Montana while it was being extended to other cities throughout the country. None of the capitalizations or organizations of the big companies belonging to the combine, or others then independently operating productive mines in Butte, is included in the foregoing summary of com...

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1912. Not illustrated. Excerpt: ... Wild-Cat Era In Banking and Stock-Jobbing In 1905 there was inaugurated at Butte an era of wild-cat operations in banking and stock g...

Format:PaperbackDimensions:92 pages, 9.69 × 7.44 × 0.19 inPublished:January 10, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217380794

ISBN - 13:9780217380799

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