Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1875-04-07
The Emma Silver Mine.

Our readers, and indeed almost every
body in Vermont, have heard much about
the Emma Silver mine, or the g Little En-
ma" of Nevada. which Mr.. Park, of Ben
nineton. sold to the rich Englishmen of
London, England, at a very nice little fig
ure. The mine yielded abundantly, at
first, but finally "petered out and then
the English stockholders claimed that Mr..
Park had deluded them-had "salted ;"
the mine, and became sure that all was not
silver that looked on its face like that pre-
cious metal. Suits We're instituted against
Mr.,ParkI fraud, and countersuits be-
came,numerous, until general state of per-
turbation prevailed in that silver mining
company. Little Emma" has never
since fully rcgained public confidence, or
been able to yield her friends anything
like fair returns for their investments in
delving in her bosom. The litigation that
has occurred in respect TO the . Emma ;
has been so expensive, and the ''silver lin
ing ahead so uncertain, that 4 portion OF
the stockholders have desired to wind up
the company, and forever forsake the little
mink The latest phase Of this attempt To
abandon Little Emma" is contained in
the following article from the Lirelpool
Post of March %:
Vice Chancellor Mains again had before
him yesterday (March ~ the petition Ia
wind up the Emma Silver Mining Compr-
nv. Mr.. Glas>e, rs representing the hold
ars of 90, 600 shares, asked that the petition
be dismissed with costs. or postponed till
after meeting Of shareholders. Mr.
Pearson said three out Of four of the iii
rectors had come to the conclusion that
they should prefer winding up to con
slant litigation with Mr.. McDougal. An
attachment had again been put upon the
company's property by Mr.. Park Mr.
Gla>se objected to the directors being made
official liqudatorS, and asked the Cout to
order meeting to be held. with u view to
the appointment Of fresh directors and
carrying on operations at the mine. Hi
Honor, in delivering Judgment, stated that
the petitioner and those who supported
him represented 275 shares; while the OPP
poncnts of 4 winding up order were said
to represent over 20, 900 shares OF GIG. $50
1t was agreed that the Company was form
I'd on the most deusive statements, cmAn-
ating from persons on the other side of the
Atlantic, who held out rs Il bait the pros
pect Of making 20 or 50 per cent, and be
gan by paying dividends of II per cent
per month, OF - per cent per annum; bu;
ut the end of ten months, the tl16,f0O on
which the project was started was pretty
well exhausted, ana after money had been
borrowed to pay two more monthly div
dcnds. the bubble burst Thrc WAS no
doubt that the mine was long ago exhaust
ed; ana if he We're to 90 by his own mdi-
vdual opinion, he should make a winning
up order. But looking ut the fact that tn
shareholders anxious for :; winding III
were Il miserable minority, he felt that il
he were to make this order he should be.
going counter to the wishes of an over
whclming ma joritv, whose desire to carry
on the concern was of itself ;n Indication
that they did not regard it rs hopeless. TO
give an opportunity for holding Il meeting
Of shareholders, presided over b9 some
person nominated by the Court, the pcti-
ton WAS ordered to stand over.