Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1873-12-24
..cAL Intelligence.
vrrT1NG OF THE RICH
ANNUAL xoyD COMPANY.

.-frliI HUH
some interesting particulars
''",a the annual meeting oil the
eO ''e,J of the Richmond Comp'-
sfa' %1 in London on tho 18th of last
nF'a,h The Journal gives the follow
nio "'" Of the opening remarks OF
the Ia time of the last meeting cV-
te a,rt,inlv looked very pIach'
e%r.fihl,s had been seized, and even
the ploi.hicb had been taken OUT was
the ols rieyin, and they were threat
uildei a suit which, If SUCCESSFUL,
ened ,o" the great OF ore when
threatl, u discovered. and which the
had ps na company claimed. AT that
keii nv ayplalncd the position, ana ne
th t nnw again give Il snort SUM
wouluf how matters thea stood. IN
iiNii mining laws of America there
der lira,,I descriptions tf"Iocatlon; =
Mei. others, there were what WAS
aii"H7 ia surface location,' and also
c'heu rirht." This company held
nnanerty under Il ''inining right.
rs T ,h1t, under the law, gave them the
any nv ,losre of following the lode 10 the
Pln, of fine ore which was discovered.
e ~ lola took a sudden turn nj an angle
r nv 45o. andrun underline surface
o "a ,fthe "Look-Out,' which then
i W." to the Eureka Consolidated
,sny, The Eureka disputed this
,,ulIany 5 right 10 loiio" tiie oic, .,''
brnllrht an action TO even INC
oro which was taken out. Inc action
v,s fried ii TIE Courts a EUREKA III an
,,ormol, cost To this company; III
'L..I. he was told onty this morning
,baf The costs amounted 10 Soo,ooo. IL
""'s unfortunate that they should have
asne In law over a thing which might
S,,e been settled by arbitration.
W., W." et,c,, of that suit was that seven
s. Tho i,ry ont of the twelve e IN
t,,ar If The claim of the Richmond
,n,nn,ny: and rs, by the American
tn il was necessary To have Il una
,nn,is verdict. the trial really resulted
in n, verdict at all. All Their law yers
as,nred he djrcc.orStli that the Richmond
romiapy was sure To win If they went
nwi.h i. and he himself. entertained
n,leubt Whatever on the subject but
i'm difficulty of getting Il Ncruict III
,inpricl was so great that the directors
vpr, not inclined to run the risk. and
as an offer wac made o compromise
t1e stit entirely by selling 10 this conf
rlnyi te "Iook-Out' location for tli,-
tagl. he and his colleagues thought
thai. in The interests OF the Sharcilold-
frs. il was The best course To adopt.
ff0nd the2r>.) He was very glad to
hear thai the shareholders approved OF
I -. ,,l,;.I, h,,l l,AAn l,I OIL
Several shareholders urged the board
10 .o on Al all risks, whilst others we're
anyiols 10 compromise; and after con-
sui ing Il great number OF Hlilientitl
shareholders. many OF them .Alncrl-
cans. experienced men. the result OF
the discussion was THAT the directors
a,cep:ei the offer for Il compromise.
What WAS The result" The expenses a
the time of the compromise were
over t9G.oea: and even If the Rich
m0nl hai obtained il verdict against
the Eureka Company it WAS impos-
>lbie 10 recover ANYTHING like the costs,
AMI tyeA if they recovered anvlh.n.
Ike the taxed costs the Richmoud
would sill have been more money not
ii poke than in. BESIDES this. TIE
sui would have occupied l. months,
AMI dlri;T ha, time the mine would
have ben Nirtullly shut up, or work
NJ under adverse circumstances. and
the company would have been much
worse of than now. Nicar, hcar.)
Tiltrc We're Il few points in he rcl,ori
"hca might, lcrhapS. need some con-
h1eat.Z The directors la | kept the
shareholders so fully informed from
tine" tllir OF everything which had
occurred that there was really LITTLE to
alt tolhe information now in their
possession. lthal been the policy Of
Tie board from ;he beginning 10 have
io secrets. and they had toldthc share
hataers rani dly everything which
ill orc3rreai. goo CT had-(chccrS)-
AMI on o'rlSion of difficulty the direc-
l"r, Ind called IN the principal silaIc-
i~ei'tef>. and asked their advice before
coming to any conclusion. (thcrrS.}
Nf., iarenae King. from whom Il re
PORT nat been receive |. which was sent
10 exc. SHAREHOLDER, and of whose
hi-l sanding and character the dircc-
'''> ma a most : Il i>tac O"v. account,
vas Een'ien0n who occupied now a
ilarh be,fer position than when he
iittie The report. he having been cilo en-
I!e oil tle three commissioners of the
'metSa'eS, to whom all engineering
n'u efS were referred: he was Il gentle
nan whose position Was of immense
~ TIE company; in fact, without
"': hlhs he did no know what the
i.Ni'l oi the company to-day would
r"ft neeh: Mr.. King had drawn UP a
w. SNlhg h geological data-the
, ~m'ic data, i'll fact. regarding the ori-
ea" VI me lode, the circum>tan-
,,~ surrounding it. and the pros
rrh )" =" the property in the future.
H. directors sent the report ont in
f 'a last. One of the satisfactory
ws.t .h about this ocmpany's mine
hnn'Hu all the predictions had been
tb,n OK, and many of them moro
,i,nn '"tiie oat, by the results. At the
mno,.ie action was pending the
n, .'inI ne ore in sight was estimated
WIZ" U IONS, and fault was found
| been 'ne estimate by men who had
sad W. mere. Indeed. some of them
sna;aaiias Mr. King had not allowed
80 Wei Tor the depth of the ore. and
NET really to that extent below the
VIII however, that was not "A thing
tLn NE could find fault with, for i'm
crreJJ 'a1IIiHy of cases the expert had
tho "a me other side, especially on
E,. ,"".iaent of America., "a lauohA
s'ata IltfEtninS which Mr.. ki,,r had
o,,o,, n''i been carried out by suhse-
If II iuts. In estimating the y,luo
ION. VII, III SIGHT he took if at $40 per
u, Der tan me actual result was S53.-
80 VII La