The sun., 1873-11-11

selves on having invested their money IN an en-
terprise guaranteed by so high an authority as
the Minister Of the great Republic Of the New
world. Everything went on swinminglV mp To
the lat 81 December, when the first interim
and the shareholders were Informed that the
whole Of The 25OU shares had been allotted to
nearly 700 shareholders. But about this time
a speck ~ trouble appeared. A long letter
was published in the Telegraph in relation
The transaction has already afforded food for
gossip; let the Minister beware lest his high
butt for the poisoned shafts Of calulnny" Au
article In the EcOnOmtst also alluded to the
operations OF the company In such terms s 10
excite good deal of UNPLEASANT comment, aud
On the 9Th of December. Gen. Schenck. finding
that the action he had taken in the matter had
excited general Indignation and derision, re-
signed his position as a director, though he full
filled his obligations to bis employers by ex-
pressing his confidence In the value Of Emma
shares.
Mr. Pairard devotcs good many pages OF his
pamphlet to u history Of the edorts made by
credit between this time and the final collapse
of the scheme; but the details, though doubt
less Of Interest to the sufferers Who lost their
money through their confidence III the integrity
of our Minister to the Court Of ST. James, are not
of sufficient general importdnce To JUSTLY re-
publication. The result OF all tue strategy em-
pluyed, however. was not particularly gratifying
tn the British shareholders, however satistac-
tory II may have been to the promoters Of tho
enterprise tor Mr. Panard pliintivcly says that
when hc commenced writing his pamphlet
Emma shares stood at about 81, which, Ia my
opinion, Is even now considerably more than
tfcy nre ntrinsically worth. as Judged by the
value Of tae mine for mining purposes
UNPLEAsANr ALLEGATIONS.
II - worth while. however, to recur to one or
two point. which show coucltisiVely the utterly
fraudulent character " the scheme put upon
the Inndon market under the auspices of the
American Minister and the United states sen
ator from Nevada, In the prospectus purchas-
er~ ~ shares were Informed that the property
tu he acquired by the shareholders included the
sum 81 AiV,O cash, being the balance OF ac.
crucd profits receivable from COnsignncnts OF
This was a downright falsehood, II Mr.. Pnnard's
statements are correct, Tor he says that no such
sum OF money was ever paid to the comnany
from such "A source but thnt the trustees of
whom Gen. Schenck was one, paid over the pur-
chase money 70 the vendors, and from them re-
ceivcd back for the company EiG.3J ~ Its own
money, under the pretence that II was "accr1cd
pronts from the sale Of ore" lie also charges
that the most hagrant misrepresentations we're
made .ls to the quantity Of ore which mad been
actually raised, and for which the shareholders
were compelled to pay.
company prCniotcrs, Mr. faIard became
involved In an extensive CorrespondepGe
directly interested in the scheme. Mr.. Paf-
fnrds enthusiasm ~ CORRESPONDENT does not
appear to have been lessened in the least
by the fact that his msslyes were
sometimes entirely dlsregarded. and that
In other cases lie was treated with snubblng of
the most disagrceable character. he succeed
ed, however, In getting letters from the publish
ing house of Cassell Peter 4 Gilpin. In wnicn
they admitted that pamphlet entitled
mining Enterprise in America, as illustrated
10y the History Ot a Great lnNe-tmeut,' which
ss work puOli-hed 10y that Arm. was never pub
lished 10y them at all. but merely printed for
some person who took away eighteen proofs
Tor hls own purposes; ana also let
ter from Chapman Hall declining to
enter INTO anS correspondehce with him
respecting the question whether or no the novel
called Silverland,' written py Mr.. Il. ;. Law
rence-whose expenses 70 Utah SIR. Panard al
leec- were defrayed by MIR. Park-was written
In the interest OF the Emma Mine speculators.
The most interesting correspondence which he
produces. however. consists .: two letters To our
distinguished representative of America In re-
ply. Those letters are worth reprinting, and
Will be found below. They do not require am
continent:
r,Rr LETTER To GEN. sCnrNcK.
r ~ r. ~ ortie NinfAg World
SlR: see In the Times OF to-day that In = let
ter of Maiur-teneral SChrnck to the American
secretary 4 state, MIR. Fish. speaking ~ tue
charges made on cablegrams sent 10y tine Anslo-
American Company. ne uses the cNircssiYn that
- systematic imposition is pvdotN,d c'rch oUyht
Sowl have no interest in the Anglo Am ori-
can or anv other telegraph cu'npan, hut u
tue Emma Mine and in Gen. ~rheu' X conn 'r-
ton with ~ ! am Interested, Iu 4suuCh Hr tDIh
my shares lu great measure upon the strength
Of bis name being On the pruspeciu-
To M" and many other deiudcd -harH holders
IL Hppcar- very strange thing that autWith-
standing the ctthat the Emma Mine was rrin-
Cipaliy huatcd upon the siren sth OF the nniue of
Gen. Scheuck, holding the high position ne
does, having allowed his name tu he used in the
sense Uf "A guarantee ~ the puuf ftffs 81 the
speculation, yet though II has turned out "A
di~i-trou. failure, Gen. Schenck has mate no
sign u attempting to help the unfortunate
shareholders, ana has gwen no explanation
Whatever
1t is true n reply to letter from me IN Jan
uary last, he wrote me that lac he'd -till comb
/ dcncc in the mine, ana was holding hi- shares
In the ful huuc that dividends would come
asain; but in March he deciines to give me any
advice as 10 selling " holding
sir, there are ugly runorS about as To what
induced the American Mini-terto lend MS name
d l
this can ulhcsitatngly affirm that among all
classes Of Americans now IN London, AT tine
Langham Hotel ana elsow here. zen. S,heuck .
connection with TINS notorious mime IN spoken
Of In terms Of regret, and IA looked upon almost
as a national r'proach ana calamity
As to the.Emml Mine, 10 quote ten. SchcnCk :
own words 10 Mr. Fish about the iclcgraphs !
do not Scruple TO say 80 sys',mdiic imposition
hdSlccu prdCtisod and ought Ia be CtI4s,d." and
| now publicly ask Gen. Schcnck whether he
Will come forward and help to expo.e ii.
~ ToNsLBY HliI, W ANDswonrti, june ao is7j.
SAVAGE LETTER To sCmESCK.
- roNsLEY linL, WANDswORrH, ;. w.
sun must express my surprise that You have
In no way noticed the letter from me IN the
Mining World Of The 18th ult. or acknowledge
my letter TO you Of same date the more 30
you In January and March last were very
PROMPTLY answered.
In one Of those answers, dated 2sth January.
you these words 81 still hold my original
/ iHrSSfmsnt Of 415 shares, in the fun hope OF
L dividends coming again, nc. Now III refer
ruc~ to this paragraph, must tell you that one
/ OF the "ugly rumors | alluded 10 in my pub
/ li-hed letter In that you did not hOild fde pay
/ for the shares now standing In Your name In The
! register Of the Emma Company. Whether this
! hr true or false know NOT but this DO knOw,
/ that Countryman Of your own, now In London,
/ and vino II intimately acquainted with the
/ whole history Of tho Emma Mine, and the means
/ ueed to tluat II ON the English market, na. not
/ merely told me, but has SlCOIn II IN an uniddVt.
| that, to his certain knowledge, Mr.. T. ".
Park. in settling with his copartners of the New
! York Emma Company, dfductCd the sum of
ShDHN ds N, rdlUc Of me shares hctd nv yOu, uTa-
| cisely rs he did the klO0,tn paid to Mr.. Albert
| Grant for successfully bringing out the mine.
! FurthurlOrc, the same party sweaIs thdt the
/ Hon. ", w. Ntririrt iolO had no pIcrOlt nuoToet
/ ~ ~ mtHt. hdd 2,OJO sLdtes gintn huh In I. v
/ ducinG u0u t0 become Il ducetor, and So lend your
/ nation was volunteered to me withuut
| reward, or promise Of reward, YOU can
] hardly wonder that | should believe IL and
act upun 1t until onntradicted specifically
! aud now, Therefore, itsk YOU, General, respect
/ fully, but NrulN, whether the above two state
/ meuts 50 sworn to are true or false in ANY or
| every ptriicuhTf II not true. whether YOU are
T prepared to lake any actlun, and what, a-lliot
] tlu-s who have 40 ,lSIersed your character; aud
/ II true, what You consider To he the present no
I rlIuu ui thu-e shareholders VINO dld really in
4 vest money IA "a concern which was palmrd oil
] on the British public hV such nefarlOu- means
/ lioth Mr. Z. ". Park and the Hon. W. NJ
/ S,cWmt wutc UWd probably arel friends Of yours
country IN tine fail Of 1851 with ncfulous intent,
I A -fu u4ft