The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1874-03-10

made an examination of the mine. Ac-
cordingly the directors selected +,
Bridges Willyams, 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 in
terested in the mines, and was supposed
to have a knowledge of them.
Mr.. Willyams examined the nine in
February. 1872 -four months after Prof.
essor Silliman), and made report more
favorable than Professor Siliman, and he
purchased, after his examination, 5000
shares at par and abovc-over 100000
gold.
After Mr.. Wilyams made his report |
sold the shares belonging to the owners
for whom l 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 for nearly year shares
equal to my interest in the shares VIC re.
ceived on the sale.
returned from England in June, 1872
and early in July had advces that the
mine was flooded with water and had
caved, and that portion of the mine was
taken possession Of by parties claiming
adversely. l at once went to Utah to
protect the company against the trespass.
ers. Judge Poland accompanied me as
counsel. We procured an injunction and
obtained possession, and then | again ex-
amined the mine, the first time for a
year.
While l. was at the mine at this time,
Col. j. G. Stanley, another of the English
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 condi-
tion of the mine, that while in Utah nine
months after the mine had been sold, |
wrote to the president Of the company Of.
fering to purchase it back at So. 1000, 900,
although 100000 gold had then been
paid in dividends. l also telegraphed to
o. A. eager, Esq, of New York, my
agent in London,to purchase 1000 shares
(n addition to the 5000 l had left with
him), for which he paid about Is 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 have not visited the mines
since my visit of July, 1872.
In September 1872, the company sent
its President, George Anderson, Esq, M.
p, to Utah to look after its interest
there. After he had seen the mine, he
wrote to me at New York as follows:
WALLER Horss
Salt Lake, September 2G, 1872.
My DEAR SIR:-I have been through the mine,
and am far more than satisfied with what have
seen. / think it is quite impossible for any one
to go through, without full conviction that it is
a mine of immense wealth, and that we are in
possession of a splendid property the sole diff
Guilty is the being allowed to hold it in peace.
Yours faithfully,
aEo. ANDERSON.
To Hon T. W Park.
This was year after my sale, and af-
ter ten dividends of $4,000 each had
been paid. and it is proper to say that
Mr. Anderson and his friends owned very
largely in the stock, and after his visit
purchased much more at above par.
In October | went to Utah to try the
case against the claimants, and obtained o
final judgment for the company. Mr..
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 1000
shares purchased at the market price and
all that could be got at par My agent
purchased 2,0l5 shares at above | s per
cent premium.
1t will be seen from what | have writ
ten that part of the mine was purchased
on the strength Of their previous knowl.
edge of the mine and Of an examination
by competent party selected by the
purchasers themselves that three differ.
English directors examined the mine at
intervals Of about three months after the
sale was willing to repurchase the mine
at what we sold it for land at that time
it would have sold for much more) tina,
over year after the sale purchased
largely in the stock at above par and
finally that any stakeholder, after having
already received l9l per cent in divi
dends, and having had fourteen months
in which to investigate the property, ifhe
was dissatisfied with his bargain, could
have sold his stock at above par.
may add here, that never heard o.
a person, friend or foe, who visited tn,
mine, that did not make very favorable
report upon it, and its future prospects
1t is charged that the mine is worked
out and of no value. Ifthis were true
no one is responsible for it, Certainly no
: the sellers any more than the buyers a
no one can look into the bowels Of th'
earth. Investments in all mines are t.
an extent speculative mines sometime,
proving to be worth one hundred time
their cost, and sometimes giving out, con
trary to the expectations Of every one
But in fact this mine has not given out
not one twentieth part Of the ground ha
yet been explored even; and the mine i
now aud for some time been earning owe
, 81 900 net per day.
Any one at all co nvcrsant with the his
|, tory of mining enterprises, knows the un
, certainty of the business great gains o
! great losses are the common experience
4 Among my mining investments was $50,
f 600 gold in the Providentia mine, in Ne
vada. which proved total loss, as we
r as other investments there but | neve
b. thought any one had cheated me
G | wish to say few words as to IN
} connection with the railroads Of Vermont
Z. l began to invest in Vermont railroad
O over ten years ago, and have never re
A ceiyed dollar in interest or dividends
+. this day on my investments. | have ha
y opportunities to sell out, aud should hay
n done so, il had not felt pledged to pre-
tect the interests of the community de
c pendent upon the road.
n There are no doubt many communiIie