, 1875-02-09

the pnschaHcra, nr IN export to 10 aolectel by
them ns that In tho usual wny. and wo took M
rtp!rt of tho n,ino With ua Soon ntlcr our arrt.
sal IN f.outaon NO Lad proposition for lie pur.
chase u one-half OF Tue miuo. NO to taxa stock
in, MI English company to bo formed FOR tha
o.'or 1aIf the sale to 10 subject IT, satlafncto+
r report to lie 1nato by any one to be coseu by
sno pirei'aaer. We accepted tho proposition.
and the purchasers aocitod Prof. B. sill.
man. or Yale College, to mako the examination
N.Y. report. J. had no acquaintance vhatoye1
mith pro!' si!llman, Ind never eeen him. but
khe" that ho p ssessod a high reputation in
Lnglsnd and America. 1u October, iB7l, Prof,
s!llnan mado a careful examination Of tla
mine md report OIL the sntno to thu purchss."
m ers' Iho report wss sata'actarv to them. ard
producing. for long time previous over S75,tEG
per month net profit, mud, tle ore all having
boon shipped to England. the purchasers hsd be.
foro shom tho exact figures ae 10 the p.oducts,
acted rs agent in milking tie eale, and Tho con.
ssyauccs wero executed III New York accvtd,na
to thu RErcement.
After 'hs new company was organized, 10
consequence Of statements that Ind been nado
about TIC rnine By parties interested in den5rps.
Tux its valnc, l refused to sell any OF tbs stock
I've had reserved one-haD until the Engl.sh III.
fectoFh had Bens over ono Of their own number
ani ;. maze ~ n m sSamn.tion Of the mtne Accord
Esq. 81. T.. and we're Influenced tu selccting
MN from tho Tact that he had purchased largely
ct the ores, b"fosa We sold tho n1pe,
WA largely tntercated In mines, and
ofthcn. Mr wyams ss tic mnns nneT'fsSs FsS.
rnary. 1917 flour nuntha alter PROT Hillima,l),
AND made report mora favorable than Prof.
ai'n:sn o., n'ih he purchased after his c1ani,ta
t11" od JV sases sftst ~ r. Es1 and 5000
sold the shares boo1giuT to the ownera fcl
whom waa nctng. Int purchased Oh my onu
account o'or 5oo? hhares. at above par nud did
no. no., en T1;. ths 'afil months astor my return to
shares c1nal to MY interest In tho Bhafes wo re-
ceiyed on the sale.
II returned from Ena1an' in june, 1872. aud
carly i1 July had adviccs thnt tho mine was
Hooded with water and had caved. ahh tbnt
portion OF tho mnlo WAS taken possession OF hy
patti"s claiming adversely. l as onco won't to
Utah to protect the Conpany against tie trc8.
passets. Jn1Kc polanl accoEnanicd mo AZ cCun.
Eel. We procured Ri Injunction and obtained
possession. a1i then again eSamincl the mine,
tho Crit time for n wear. Whlo I was ut tho
1u11'c It this time. Col. ]. c. Stanley. another ef
tho English Directors, vas there, AMI reported
to tho Company farotab'y Of the mine. and the
shares advanced on the report. So well pespcd
HaA with the condition of the miua that Hliia
in Utah 1T this time, nino months after tho ns.o
had becn soIa. wrote to the President OF tie
s5,. .ooo. although 5000, 1000 bad been rid
in dividends, l also telesrapted to Q. 4. Ghstr.
EAq., Of. New York. my agent in London, to
purchase a.000 sharoH lin addition to tbs ! Geo
AkH AE1+ Will u1lHlt IDF HlllGu 18 IjalQ HDiut 4t
per cent premium. During tho fall Of 1a72, my
agent being nbolt to leave England for the
United 6tatas. aold most Of my shares, nao
have not visited the mine since my visit Of July,
1872.
lin September, 1872. Tho Co,npauv sout in
President, George Anderson. Esq, II. r., to
GtHl' to look nftor ita interests there. After he
had seou tho nil1o, ho wrote to mo 1t Nov York
ns follows:
"'wAtkrn Horsz, SALT L.xz, sep.. n, 1s72.-
Mt Dt4n SfRs 7 hrer fhrrai fhh min
atit am far more lhan satisfied With waAt have
lhns IL quite mp?ssile for my one to 60 through
property; the sole diaealty IL Tie being allowed 10
aosA 1t IN pence Yours 1aishtully:
"'To the Hon. 7. ". PARK
:" This WAS vear efter nv sale, and after ten
dlv'denda Of 975.om cach had bean paid. md II
Ii proper to aav thai Mr.. Anderson and lis
friends owned very largely In tho stock, and
after hts visit purchased ulch moro at above
par. In October want to Utah tn Try tho caso
ogainst the claimants and obtained a nnaljudg-
mcnt for the Conpany. HI, Anderson WA etill
there and visited the n,ine aghin, md from his
report fmy health did not permit my going with
him1. and the reEorts Of the others, I ordered
1.lltD eharca purchased o. the market price and
cd lois shares at abovo 10 por c.nt premium.
~ It will be aoen from wlRt hnve written
that part Of the mine VAS purchased m tle
strength of their previous knowledge Of tha
U11I1Gr AHu VI Ill 6AAlulk'AtluU UY cullj38tSuk
rarity ae7ec:etl bv the pnrehasers themselves
that throe different English Directors examined
tho mine at intervals of about three montha. and
wero moro than Satisfied with their purchase;
that ni!e months after tha sa1e uns willing to
rernrch>se the nainc At what we aold 1t for {snd
at that time it would have sold for much mors>;
that over year after the saIo1 purchased largely
In tile stock at aboVo par; and huallg that
Any stoetlloldes. attsr having .lre.dy received
19l per cont in dividends, and having had four
teen months in which to lnvesttqata the prop
orty. II he WIS dissatisfied with hR bargain,
could hare cold bis stock at above par. may
add hero that mover heard Of porson, friend OF
foe, who visited tho mine that did not make =
verv favorable report nnon 1t and It's future
prospects. 1t ,s charged that the n.no ia worked
out andfof no value. II this were true, no ono 10
responsible for it Certainly not the Sellers any
more than the buyers), as no one can look into
the bowels Of tho earth. Investments IN
all uaipes are to m extent specu'
lative, mines aometimeB proving ia
be wortl, one hundred times their cost. and some.
times giving out, contrary to the expectations Of
cut: not ono twentieth part of the ground has
yet been explored ovrn; and the mlno s nnw
and for some time has been earning over 81 600
not ror dsy. Any one at all conversant With tho
taintv OF tho business; pToat Eatns or great
lohBes arc tho common experience. Among nv
mining Investments waa $l30, ooo gold in tue
rroyidential Alins in Nevada. which proved
but never thought any Que had cheated me-"
GARD FROM rRoF n. gILLfNAN.
10 the Editor af tht Ertc FORK Ttttans:
The publication Of the COMPLAINT q ths Erne.
Mining Company asaluat Trehor ". Park and
others. In your issue Of Fob. l., Affords me N
opportunity Of which avail myself to say:
/. That every charge contained in that COM
plant. or esnanasiug from any other source. In
putting to me frard. completely, or other improper
set, either In connection with the examination Of
this Emma Affne with ts Raie, or with the ovnots
thereof. or any OF them, ia falss and untrue Ia
eyery particular.
2. earnestly hone that the action now begun
will be pressed to o apeedv trial. nnd that
thorough and exhaustive judicial investigation
may he had Of ali these CHARGES. So far - am
concerned, am prepared, whenever and Hher.
over s'1ch an investigation Ia had, to mfet aud
answer those charges fully, fearlesstT, and; am
confdont, satisfactorily. Yours resneet!ull1.
New. HAVEN, Feb. 1, 1875, q. S1LLIAAN.
GAp1TAT, AEE1 la R0R