The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-12-01

Independent Of this, the company have We believe,
in hand twenty i've hundred and fifty shares Of its own
stock but what ii is worth would be most difficult to de-
termine With the above the entire Of the
company are exhausted; and where the means are
coming om to keep the mining operations going
than any one Of the trustees satisfactorily explain
1t possible the company may keep the wheels moving
pretty smoothly until the LIST Of January After THAT
time it will have to depend upon credit without the pos
sibity of receiving anything to meet it payments but
what is derived from the sales OF ore. This is very
gloomy prospect for the stockholders and they have
to blame but themselves The affairs Of the company
have been most miserably managed since the present
trustees have been In power.
The original capital Of the company $4,000 and
merely nominal at that This placed the par value Of the
$4,000 shares at So each 1t discovered BY the
trustees that for the purposes Of speculation the par
value too low-tSat tho margin was too
by some new system Of fnaxceering hocus pocus
mode Of management the par value OF the stock was
raised TO $40 per share. New stock was Issued with
enforcement each certificate that only - had been
paid In each share leaving In 81 per share,
subject to call any moment For the purpose Of satisfy
ing the Comptroller and getting certificate from him
that the capital had all been paid in the company pur-
chased about twelve hundred land worth certain
y not more than I'VE dollars asre and put II in At
value Of two hundred and nty Two thousand dollars
2b2 00o BY this legal bubble the law evsded and
the Comptroer's certificate obtained All this having
been arranged and certificates Of stock issued IL
discovered by the stockholders that they still
liable to the amount Of 81 per share Applications
made at the companys Office for Information relative to
this matter and every applicant assured that II vas
mere form; that the would be rsquirsd
that the company out Of debit that lead enough
was produced to pay current expensss and that the
production would be sufficient to authorize the de-
caration Of dividend. On the 7sth Of May last the
secretary Of the company made the annexed official reply
70 inquiries en- the subject
sT. LAWRENCE NIrISe CowrANr,s ROOM
No IL Insurance Building Wall street
New York, May rs, 1852
Dr,R sn-In reply to your inquiry have hssita.
ton In svig my opinion that Judging from the
the company now have on band, there 10 very little.
any probability that the remaining one dollar per share
viii be cssd In whn very long time II ever a. It was
only left as precautionary measure In OF
The actual debt Of the company s nov,within one thou
sand dollars Very truly, yours,
Answers similar to this given verbally to every
question relative TO the finances Of the company unt
within the past sixty days. We nnd the company In
debt upwards Of thirty four thousand dollars 1854 oee
most Of which must have existed ct the time the
sy wrote the above letter The trustees Of the g. Law
renee Lead Mining Company are Thomas A. Rmust,
'sPhfn c'0sker and GratassS, Who nouisslly OWE