Philadelphia was reported to be Greenwater-mad. When United Greenwater had reached $1.50 on its way up and Greenwater & Death Valley had passed the $4 point, the Schwab crowd announced the formation of the Greenwater Copper Mines & Smelters Company to consolidate the Greenwater & Death Valley and United Greenwater companies. This new parent company was capitalized for $25,000,000, with 5,000,000 shares of the par value of $5 each, and the East was reported to be eating up the new stock "blood raw." The president of this company was Charles R. Miller, who was president of the Tonopah & Goldfield Railroad Company, and the vice-president was M. R. Ward, the redoubtable brother-in-law of Charles M. Schwab. The directorate included Mr. Schwab; John W. Brock, who represented Philadelphia interests on the directorate of the very successful Tonopah Mining Company; Malcolm Macdonald, the champion "lemon" peddler of Nevada; Frank Keith, general manager of the Tonopah Mining Company, and others. It was a "swell" directorate. It was learned that the stock of the new company had been underwritten by New York Stock Exchange houses, principally those with Philadelphia and Pittsburg branches where the Schwab crowd was influential, at $1.80 per share, and that large blocks were being sold to the public at up to $3.25 on the New York Curb, a valuation for the "properties" of more than $16,000,000. GETTING INTO THE GAME The birth of the $25,000,000 merger, to take in two properties that had not yet matriculated even in the baby-mine class and were actually suspected at the outset by mining men in Goldfield to be wildcats, was the signal for an outpouring in quick succession of Greenwater promotions from all centers, of which the annals of the industry in this country chronicle no counterpart. At the height of the boom there was promoted out of Los Angeles and New York the Furnace Creek Consolidated Copper Company, with a capitalization of $5,000,000. From Butte, home of the copper-mining industry, the Furnace Creek Extension Copper Mining Company was promoted, with a capitalization of $5,000,000, and also the Butte & Greenwater, capitalized for $1,500,000. Malcolm Macdonald the "hero" of Montgomery-Shoshone at Bullfrog, hailed from Butte. He it was who interested the Schwab crowd in Greenwater, as he did in Tonopah and Bullfrog. "Patsy" Clark, the noted mine operator of Spokane, having prospered marketwise with his Furnace Creek Copper Company, promptly headed a new one, the Furnace Valley Copper Company, with a capitalization of $6,250,000. These shares were listed on the Spokane, Butte and Los Angeles Stock Exchanges, but did not appear on the New York Curb. A San Francisco crowd of brokers and stock-market operators organized the Greenwater Bimetallic Copper Company. "They let her go Gallagher" with a capitalization of $1,000,000.