Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1872-10-16
THE RAYMOND & ELY VS.. THE
KENTUCKY.


stock circles was the suit brought by the
Kentucky Silver Mining Company
against the Raymond and Ely Company,
for possession of the mines on a suit OF
ejectment and 100000 damages, exclus-
i've of $4,000 day for every days work
after the bringing of the suit. The
merits of the case were fully discussed
in the street, and it was generally con-
sidered big bear operation. The Ray
mond Company was placed on the
market about two years ago, and being
well developed rapidly took out ore and
paid large dividends without collecting
cent of assessments from the stockhold-
ers. Up to the present time So, 900
has been dlsbursed to the company, and
another $4,000 will be paid on the 10th
instant. The discoverer and principal
manager of the mine holds about $4,000
shares of the stock out Of 10000, and
having the greatest confidence in the
mine has worked it for his own and other
stockholders benefit. Although dabbling
in other stocks, it is stated that Mr.. Ray
mond has meyer gone into the street with
any jobs on Ely. Being the strongest of
Ely District stocks, it has been made
the butt of many attacks by the bears,
who by depreciating Raymond and lily
shares, would have carried the balance
with them. although many heavy raids
have been made upon the stock, the
work of the bears have not been felt
until the past week It times they have
knocked it down a few dollars, but the
steady shipment of from Sl0,0 to $l2,-
900 per day for several months have
always brought the price up again. Lee
Gently, when the ashoe stocks were
suffering from the bears, aymond stood
pretty firm, declining but slightly in
comparison with the other shares asst
week, however, when the suit was brought
by the t entucky company, of which }
B a.. avaller is resident, the shares
dropped as if struck by mighty power,
and receded to one-twentys fter the
first receipt of the news IN this city, and
when the matter had been inquired into,
the shares rapidly rose in value and
closed firmly at Sl4S, with an upward
tendency. Judge James H Hardy, the
attorney of the company, who has been
in that section of the country tor some
time past, writes as follows to the rus
tees i'll this city: 81 am entirely familiar
with the claim of the Eentucky Silver
lining ompany at Phoebe. and with
its location and works. The location of
all the claims now asserted against your
company are subsequent in point of time
to your locations, by virtue of which you
entered into possession. Besides this, |
am satisfied, from the position, course
and dip of your lode, that it was and is
impossible for the hentucky Company to
reach your lode or works from their
shaft without drifting through a heavy
wall or body of country rock There is
.ot the slightest cause of alarm -
Per contra the Kentucky Company
issue the following circular published in
the San Francisco Stock Report:
i" the Stockholders of the Kentucky
Nining Company, Fly l. istrict: The
Secretary of your Company has beel
instructed by the Trustees to inform yor
through the press of the present condi
ton and future prospects of your prop
erty. The reason for this action is tina
it has been reported and affirmed tina
the Trustees Of the Kentucky have com
menced proceedings of law for black
mailing purposes, and that the Kentuck,
claim Is worthless and the property they
pretended to own belongs to the lay
mond a. lily.
The Trustees, in justice to themselves
to you and to the public, consider i
their duty to make the following state
ment Of facts, viz: That after the mos
careful search of records being made
and on the opinion of the most respect
full lawyers in Phoebe familiar with th
title and the ground, that the title theret
was valid, the hentucky mine wa
, bought from the original locators, VIII
{ then We're and now are living in Phoebe
no one ever having questioned thei
right to the claim. Subsequently to tn
purchase We incorporated, sold an
: issued stock, and commenced sinking
g shalt SKI feet, put up machinery fc
:: hosting purposes, including steal
: engine of 20 horse power, houses, waite
, tanks, and all the requisites of frs
= class mine We now have shaft of til
g above dimensions, $40 feet deep, We
$ timbered, and have spent over $1,000
: on the mine. AT the depth of $50 fe,
k your Superintendent commenced driftn
e north and south. after going mort
about fifteen feet he broke into an ope
e drift or chamber on our ground, whel
ore had been taken out. He was at one
stopped by force from proceeding an
" further with his work in that direction
It Desiring to respect law and order, he d
n sisted for the present, and is now pre-
n crossing most successfully with sinkir
shaft and south drift Satisfied beyon
r all reasonable doubt that the Raymon
!, Il -ly has been taking ore from the Kel
a lucky ground, the Superintende,
' instituted proceedings and asked for a
70 injunction to prevent any more ore bein
l. taken, also for an underground surve,
d as also to be identified for what hi
II been unjustly taken. So you see a
>. that is asked by us is justice and fc
Il such we apply to the proper courts, il
d stead of doing as the raymond e. Ely HI
done-take law IN their own hands, O
the principle that might is right
o The above is plain statement of fac
>. as they are, and in conclusion, You ca
rest assured that your Trustees will nc
l. lend themselves to any proceedings
J. obtain property unless they have rigt
% to it, n the other hand they are de
t termined to assert their rights and mali
tain them.
: JULES P. CAVALIER, Secretary.
The Greeley meeting in San Francisc
on the 7th inst, was most successfn