Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1874-02-25

and they knew the exact pfOOuctS, anu we
had received various offers for the mine
from English parties.
I am safe in saying that there are no
people better informed on the subject OF
mines than the English, and learned dur
ing my stay in London that the English
people are as sharp in dealing in mines,
and as well able to protect their own In
terests, as any people whom l ever met.
Early in September, Hon. w. NJ. Stew
art, Senator from Nevada (who had an in
terest also in the mine), and went to Lon
don to negotiate sale, acting for all the
owners; but did not expect to sell the
mine without an examination by the pur-
chasers, or an expert to be selected by
them, as that is the usual way, and we
took no report of the mine with us. Soon
after our arrival in London, we had pro-
position for the purchase of one-half OF the
mine, we to take stock in an English COM
pany to be formed for the other half; the
sale to be subject to satisfactory report
to be made by any one to be chosen by the
purchasers. We accepted the proposition,
and the purchasers solicited Prof. b. Sill
man of Yale College to make the exami-
nation and report. l had no acquaintance
whatever with Prof. Silliman, had never
seen him, but knew that he possessed a
high reputation in England and America.
In October, 1871, Prof. Silliman made a
careful examination of the mine and re-
port on the same to the purchasers. The
report was satisfactory to them and the
sale was censummated. The mine had
been producing for a long time previous
over $75,OO0 per month net profit, and the
ore all having been shipped to England,
the purchasers had before them the exact
figures as to the products. | acted as
agent in making the sale, and the convey
ances were executed in New York accord
ing to the agreement.
After the new company was organized
in consequence of statements that had been
made about the mine by parties interested
in depressing its value, | refused to sell
anvi of the stock we had received Gone
half until the English directors had sent
over one Of their own number and made
IN examination of the mine. Accordingly
the directors selected E. Bridges Will
lyams, ESQ, NJ. p. and were influenced in
selecting him, from the fact that he had
purchased largely of the ores, before we
sold the mine, was largely interested in
mines, and was supposed to have knowl-
edge of them.
Mr.. Willyams examined the mines in
February, 1872 -four months after Profess
sor Silliman). and made a report more fa-
vorable than Professor Silliman, and he
purchased, after his examination, 5000
shares at par and above-over 100000
gold.
After Mr. Willyams made his report,
sold the shares belonging to the owners
for whom | was acting, but purchased on
nv own account over 5000 shares at above
par, and did not sell them until months
after my return to the United States. |
held for nearly year shares equal to my
interest in the shares we received on the
sale
returned from England in June, 1872
and early in July had advices that the mine
was flooded with water, and had caved
and that a portion of the mine was taken
possession of by parties claiming adverse
". | at once went to Utah to protect the
company against the trespassers. Judge
Poland accompanied me as counsel. We
procured an injunction, and obtained pos
session, and then | again examined the
mine, the first time for year.
While | was at the mine at this time,
Colonel J. c. Stanley, another of the Eng
lish directors, was there, and reported to
the company favorably of the mine; and
the shares advanced on the report.
So well pleased was | with the condition
of the mine, that while in Utah at this
time. nine months after the mine had been
sold, wrote to the President of the Com
pany offering to purchase it back at
s., 900 900. although 100000 gold had
been paid in dividends. | also telegraphed
to o. \. eager, Esq, of New York, my
-, 7 eha
Gin addition to the 5000 | had left with
him), for which he paid about 10 per cent
premium. During the fall of 1872, my
agent, being about to leave England for
the United States, sold most of my shares,
and L have not visited the mine since my
visit of July, 1872.
In September, 1872, the Company sent
its President. George Anderson, Esq,
there After he had seen the mine. he
wrote to me at New York rs follows:
WALKER HOUSE,
Salt Lake, Sept. 26, 1872.
MY DEAR SIR have been through the NINE
and am far more than satisfied wi h what have
seen. | think 1t quite impossible for any one to
go through without fun convection that 1t is a
mine OF immense wealth and that We are in in pos,
is the BEN. allowed to add 1t IN peace.
Yours faithfully,
GEORGE ANDERSON.
To Hon. T. W. Park.
This was a year after my sale, and after
ten dividends of $4,000 each had been
paid; and it is proper to say that Mr.. An
derSon and his friends owned very largely
in the stock. and after his visit purchased
much more ut above par.
In October, | went to Utah to try the
case against the claimants. and obtained a
4 1 IL t.,
Anderson was still there and visited the
mine again, and from his report (my
health did not permit my going with him)
and the reports of others, ordered 1900
shares purchased ut the market price and
all that could be got ut par. My agent
purchased 2,015 shares at above Is pei
cent premium.
1t will be seen from what | have writer
that part of the mine WIS purchased on
the strength of their previous knowledge
of the mine and of an examination by Il
competent party selected by the purchas
ers themselves; that three different Eng
fish directors examined the mine at inter.
walls of about three months and were more
than satisfied with their purchase; thai
nine months after the sale | was willing
to re-purchase the mine at what we sold i
IOT (luu Ut jiltL lIIl1c IL WOltlu HAY T. SOlt
for much more); that over year after tn,
sale | purchased largely in the stock a
above par; and finally that any stockhold
er, after having already received 10 l.:
per cent in dividends, and having ha,
7 fourteen months in which to investigat,
the property, if he was dissatisfied will
his bargain, could have sold his stock "A
above par.
may add here. that | never heard of ;
person, friend or foe, who visited the mine
that did not make a very favorable repor
upon it, and its future prospects.
1t is charged that the mine is worked
out and of no value. If this were true, n
one Is responsible fori it certainly not tn
sellers any more than the buyers), as nj
one can look into the bowels of the earth
investments in all mines are to an exten
speculative; mines sometimes proving t.