The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-02-25

company, and made report more favor
able than Prof. Siliman had done. Mr..
Willyams took Prof. Sillman out with
him.
visited the mine again in July, 1872,
with Judge McKeen, the Chancellor of the
court, Judge Poland, and opposing coun-
sci, and number of witnesses Ginning ex-
perts) on both sides of the suit then pend
ing. The mine was then opened much
more extensively than when | was there in
February with Mr.. Willyams. Among all
the parties who visited the mine, including
the mining experts on both sides of the
case, heard but one expression, which
was that the mine was of immense value.
! ordered stock bought at that time at Is
per cent premium, and know of others in
Utah who did the same.
| was in Utah In September and October
1872, with MIR. Anderson, president of the
company, attending to the litigation. In
1t then looked we'll Mr.. Anderson ex-
pressed himself as fully satisfied. He said
that he and his friends in Glasgow owned
largely in the stock, and that he had come
ont to see for himself This was year after
the sale of the mine in London, and the
stock was then selling at Is to 90 per cent.
premium. There never was fairer trans
action than the sale of the Emma mine
The English people knew the reputation of
the mine, and, what was more important,
they knew of its great production by the
receipt of its ores. They came to us to
purchase. We sold subject to examina-
ton by party selected by them. Three
English directors visited the mine at inter-
walls February, July and October, 1872, }
and all were satisfied, and each gave as ia
yorabc report as the one given by Prof.
Sillman. The stock was above par for
over a year. Our subsequent relations with
the company may be best understood Ivy
the following resolution adopted at one Of
the meetings of the board of directors, on
the 10th day of December, 1872:
December 10, 1872.
To Hon. W. NJ. Stewart, Washington
DEAR SIR IL have much pleasure in trans
mlttlng TO you the following resolutions passed
this day at the board meeting OF the directors
of this company
vote OF thanks was unanimously passed 10
Messrs. Park and stewart for the very able and
| valuable assistance afforded by those gentle
| men In the successful prosecution of our suit
| against the Emma Hill Consolidated Mining
| Company. and for the handsome way they have
| devoted their time, and Incurred expenses free
OF charge to the company, during the continu-
ance of the litigation
trust we have now seen, thanks to you, the
| last of these wretched lawsuits.
shall we have the pleasure of seeing you here
| again at our board? Your presence would,
| assure you, be great qualification to all.
yours faithfully,
W. H. Tooxn, Secretary.
1t is not our fault that the stock huctu.
ates in the market, or that the mine does
not pay now as we'll as it did at one time.
Mining property is subject to great fluctu
ations in value. The Comstock vein is @
good illustration. The Belcher and Crown
Point mines, in 1868, were bought in the
market at about one thousand dollars per
lineal foot. After that time the ore bodies
failed, and these mines had no market val
ue, and could be bought for nominal sum
In 1872, new ore bodies having been dis
covered, the stock of these mines rose tC
about fifteen thousand dollars foot, and
they have produced in the last twelve
mouths over ten millions each. Every
mine of the Comstock will show similar
fluctuations in value.
do not think the Emma Mine has failet
or been worked out. A small portion only
of the ground has been explored. under
stand the mine is now paying about $25,
900 month above expenses, and there
seems to be nothing discouraging in it.
prospects.
Yours truly,
WIN. NJ. STEWART