Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1874-02-27

NV connection Will liiS b4H+-'A
is sale is as follows:
In April, ISL, | went to Utah with "en'
II. II. Baxter, and We examined the Emma
mine and the title of the same, which was
involved in serious litigation. We pur-
chased one-half of the mine and paid cash
for it. We worked the mine vigorously
after the purchase, and in the July follow
ing declared a dividend of $3.50, 600 from the
earnings.
In July. 1871, | went to Utah with h.
J. Phelps, Esq, as counsel. to attend to
the litigation. and while there examined
the mine again and found its appearance
had improved. Mr.. Phelps visited the mine
with me.
In The August following, the litigation
was settled and We obtaineda United States
patent. which made the title perfect There
were then twelve owners in the NINE and
after obtaining the patentit was determined
TO sell the whole, or q portion OF It, ana 10
offer !. in England, for the reason that Eng
land Is the great market for the mines OF
the world. She owns most Of the valuable
mines. and Is fully informed concerning
them. having a number OF able journals de-
voted TO mining matters solely. The ores oil
the Emma mine, both before and alter our
purchase. had been shipped TO Bath * Son.
and Lewis q Son, eminent English mer-
chants. and they knew the exact products
and we had received various offers for the
mine from English parties
am safe IL saying that there are no
people better Informed on the subject oil
mines than the English, and | learned dur
inr NV stay in London, that the English
people are as sharp in dealing IN mines
and as well able to protect their own inter
e.ts. as any people whom ever net.
Early in September, Hon. ". u. Stewart.
Senator from Nevada (who had an interest
also in the mine) and l. went to London
10 negotiate a sale. acting for all the own
ers but did not expect to sell the mine
without an examination by the purchasers,
or an expert to he selected by them as that
j. the usual way, and we took no report OF
the mine with u. Soon after our ar
rival 10 London we had proposition for
che purchase of one-halt of the mine we to
take stock in an English company to be
formed for the other half the sale to be sub
isct to satisfactory report to be made by
any one to he chosen by the purchasers,
We accepted the proposition and the pur-
ehasers solicited Prof. B. Silliman Of Yale
College to make the examination and re
port. | had no acquaintance whatever with
Prof. Silliman, had never seen him, but
knew that he possessed high reputation
in England and America.
In October. ISL, Prof. Silliman made &
careful examination Of the mine and re-
port on the same 10 tie purchasers. The re-
port was satisfactory to them and the sale
was cousummatod. The mine had been pro-
ducinr for a long time previous over So
coo per month net profit. and the ore all
having been shipped to England, the pur-
chasers had before them the exact figures a
to the products. acted as agent in making
the sale, and the conyeyances were executed
in New York according to the agreement.
After the new company was organized, in
consequence of statements that had been
made abou; the mine by parties interested
| in depressing its value, refused to sell any
of the stock. 1--WE had received one-half)
until the English directors had sent oven
one Of their own number and made an ex'
animation Of the mine. Accordingly the
directors selected E. Bridges Wiliyams
ESQ, VI. P, and were influenced in select
/ ing him from tie fact that he had pur
chased largely Of the ores, before We sold
the mine, was largely interested in mines
and was supposed TO have a knowledge OF
1 them.
Mr. Wiliyams examined the mines II
February, 1872 (foar months after PROBES
sor Silliman) and made report more IA
vorable than Professor Silliman, and he
purchased, after his examination, 5000
shares at par and aboye-oyer 100000
gold.
After Mr.. Willyams made his report
sold the shares belonging to the owners fol
whom | was acting. but purchased on my
own account over 5000 shares at above par
and did not sell them until months after
my return to the United States held fol
nearly year shares equal to my interest il
the shares We received on the sale.
returned from England in June, lo72
and early in July had adyiees that th'
mine was flooded with water and had cayed
and that a portion of the mine was taker
possession of by parties claiming adversely
at once went to Utah to protect the com
pany against the rrespasscrs. Judge POLAND
accompanied me as counsel. We procured
an injunction, and obtained possession, anC
then | again examined the mine, the frs
time for year.
While was at the mine at this time
Col. j. c. Stanley, another of the Englisl
directors, was there. and reported to th'
company iavorably of the mine and thu
shares advanced on tie 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 Company Of
fering to purchase il back at IS, 000, 600
although 5000 coo gold had then been pait
] =. l.. 81 .bal TO N A
eager, ESQ, of New York, my agent il
London, to purchase 1000 shares lin add
ton to the 5000 had left with him), 70
which he paid about Is per cent premium
During the Fall of 1872, my agent bein!
about to leave England for the United States
sold most of my shares, and have not visit
ed the mine since my visit of July, 1872.
In September, 1872, the Company sen
its President, George Anderson, Esq, NJ
P, to Utah to look after its interests there
After he had seen the mine. he wrote to IN
at New York as follows
WALKER HOUSE,
Salt Lake, Sept. &c, 1872.
Ny DEAR SIR Il have been through tn
mine, and am far more than satisfied wit
what have seen. | think it is quite i'm
possible for any one 70 go through, withou
a full conviction that it is mine of i'm
mense wealth, and that we are in possession
of splendid property the sole difficulty
the being allowed to hold it in peace. -
Yours faithfully,
GEO. ANDERSON.
To Hon 7. W. Park.
This was year after my sale, and efte
} ten dividends of SIS 900 each had bee
paid, and it is proper to say that Mr.. An
derson and his friends owned very largel
in the stock, and after his visit purchase
much more at above par.
In October, went to Utah to try til
case against the claimants. and obtained
final judgment for the company. Mr.. An
dsrson was still there and visited the min