Office of the Secretary of the Black Pine Mining Co. [caption title]
Butte City: 1887. pp., on a bifolium. Signed in manuscript. Light tanning. Very good. Item #420
Scare report of an 1887 meeting of shareholders in the Black Pine Mining Company, whose subject was the imminent failure of the Butte, Montana, mining venture. The root of the problem seem to have been a failed bond issue, which attracted only a minimal number of subscribers and raised just $21,000. The report proposes the sale of all company property and the formation of a new company in which current shareholders will be able to maintain their current level of ownership via additional investment amounting to a further twenty cents per share. We locate only one copy of this interesting announcement and resolution, at Yale.