The Copper Bubble of 1899
A classic 'get rich quick' advertisement disguised as financial journalism, peddling stock in a speculative Seattle mining company.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
Read these extracts, then quickly determine whether it will be to your best interests or not to become stockholders in the Five Brothers Copper Mining Co. The company owns nine full claims in the well-known Trout Creek district, two miles east of the famous Sunset mine, and one mile west of the mill site. Our assays show the outcrops to be exceedingly rich, and the ore bodies measure more than 30 feet in width. Our success in financing the Sunset mines, now shippers, warrants the statement that we have proven our ability to handle a group of prospects successfully. We offer 50,000 shares of treasury stock at 10 cents per share. No other stock will be issued while the treasury stock is being sold. This is your opportunity to reap handsome profits. John E. McManus & Son, 918 Second Avenue, Seattle, Wash. Reference: Seattle National Bank.
“This is your opportunity to reap handsome profits.”
This advertisement is a perfect historical mirror for modern-day speculative bubbles. Just as 1899 investors were urged to FOMO into 'Trout Creek' copper stocks based on vague promises, today's retail investors are constantly targeted by similar high-pressure pitches for crypto or tech startups using the same 'get in before it's too late' rhetoric.
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