Arizona citizen., 1874-01-24
Vulture Mining COmpany's Affairs.

The following circular explains itself. MT. E. N. Fish, to whom it was sent, obliges the public by permitting us to publish it:
 NEW YORK CITY, December 26, 1878.
 To the creditors of the Vulture Mining ago, the creditors of this company pro- posed to settle their claims upon the basis of twenty cents on the dollar, payable on the first day of January, A. D. 1874.
 The company therefore immediately dis patched MT. J. D. CuSenbary to Arizona, in order to obtain the signatures to com promise paper so drawn as to carry the proposed terms into effect.
 He reports that he has obtained the con- sent of nearly all to the terms above stated. It is quite probable that those who have not yet signed would do so, except per haps Messrs. Bryan and Company of Ari- Zona, who claim over one hundred thou sand dollars, and refuse to become parties to the arrangement for less than fifty per cent of their said claim.
 The total amount of the liabilities of the company is over $500,000, twenty per cent of which is a little over one hundred thou sand dollars. This latter sum the com pany had negotiated for with capitalists; but as the MessrS. Bryan & Co. require thir- ty per cent. to be paid to them in excess Of what the others would receive, (which of itself amounts to over thirty thousand dol lars,) the company is unable, in cOnse- quence, to carry out the proposition; be- sides, they propose that all shall fare alike, and that no one shall have an advantage over an other.
 Messrs. Bryan and Company make this diStictiOn in their favor, because they pre- tend to hold mortgage security for their demand, executed by B. Sexton, on all the property of the company in Arizona; which mortgage, they say, is valid and operates to give them some security which the other creditors have not got. The com pany do not admit the validity Of this so- called mortgage, but say that it is wholly inOperative; because first, the said Sexton, while acting as the agent of the company, never had authority broad enough to ena- ble him to execute such mortgage; and, secondly, because at the time of its eXecu- tion he had ceased to be the agent of the company in fact. The company did not, at the time, know of the execution or this mortgage, and have never since ap- proved of it, but will contest it as unathor- iZed by the company and as unjust to the other creditors. It is therefore hoped that MeSsrs. Bryan and Company when they come to know all the facts in the case will see that they hold no security which Justl- fies them in demanding more than the other creditors get; and that they will prefer twenty per cent. on the dollar to the uncertainty and expense which attend protracted litigation.
 AS to the few others who have not signed the paper, the aggregate of their claims IS small, and the company believe they will yet see it for their interest to become par ties to the compromise arrangement.
 In the meantime, the company propose to continue their efforts, and to abate nOth- ing in determination or energy, ln tnelr endeavOrS to effect settlement. Very Respectfully, H. LYNDE HARRISON,
 President of the Vulture
 Mining Co. of Arizona