The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1875-07-24

tTIOn tIC A0AoNA 0 AMW
After a series of vicissitudes more serious tnan
those through which most mining companies
are called upon to pass, the Enernardt ana Au.
rors Mining Company seems 70 have emerged
from the dark cloud which has hitherto over
shadowed it, into . condition which bears some
thing very like the semblance Of prosperity. In
I,,,v newt the Chairman anticipates that the COM
usny will be out Of debt, and have . balance "
hand of 1o.Oocl available for dividend. Tnisior
= company that a few months ago knew not
whethsr to turn to the right hand or to the left,
i somewba. remarkable, and speaks loudly in
nraise Of the management, and also of the rich
mass ~ the mine. This is indeed one of those
adventures which, but for the pluck OF. certain
narsnns connected with il, would have been
wound up long ago, but which mas now llved 70
sac q hriuhter and better day. Under happier
circumstances than those which Tor q long TINE
attended the management In nevada. the resuis
the Chairman was able to report Tuesday wouid
have been brought about earlier; u tthat 1t mas
been brought about at all is due to the unbound
cd faith which Mr.. Ridsdale, the Chairman, MT.
Applegarth, Capt. Drake, ana tnelr otner IesS
prominent, but not less belleving, colleagues
have had in the richness OF this property anu
their determination to develop its resources.
Amidst all the cries now so prevalent about the
instrumentation of prospectuses and the 1altn-
lessness of vendors, it is really cheering 10 turn
to the prospectus of the Eberhardt company
there to find that the property was purcnaseu on
the value of 40 dolls. a ton, and that the aver
age for several months past has been 81 dolls. a
ton. In one month we believe 1t averaged as
high as 20 and IS dolls. to the ton, and this az q
depth of only some $40 feet. me chairman IN
formed the shareholders on Tuesday that since
the property was converted into q Limited LA
bility Company it had turned out 40 ,OOOt. IN OAR
silver. and we agree with him In the opinion ne
SO feelingly expressed, that 1t Is q cruei thlne
that none of this money has gone into the pocK.
cts of the. shareholders. A dlnerent OrueT oi
things is now established, and the shareholders.
we think, may rely upon this, that when ali the
lust demands that can be made upon the COM
pany are met, the residue will, at the earliest
possible moment, be distributed amonest the
shareholders, The Chairman holds out the
hope that by the time the next meeting is held
the Board will be in a position to declare q dlvi-
dend, and certainly if things go on till then as
they are proceeding now they will most assur-
eddy be able to do so.
Of course, the meeting could not pass by with
out there coming to the front the somewhat Sc
rious question of the water pipes from the White
Pine Works. Those who read our report OF the
last South Aurora meeting will be aware that
that company claimed to be the rightful owners
of Az miles of piping which the Eberhardt
Company now holds possession of. Consider
able r~eticence was manifested by the South Au-
rora Board on the subject, for which they nc
doubt had sufficient and proper reason, but Mr.,
Kimber, the Eberhardt Company's solicitor, was
Bismarckian in his frankness. He told the
Eberhardt shareholders that the claim had
been made, that the m had been exam
ined. that evry lOophole that would exclude the
piping from the purchase by the Eberhardt Com
pany of the White Pine Water Works had been
effectualiy closed, and that, in short, he defied
the South Aurora Company to substantiate the
claim. and if they did so, the Messrs. S%eligman,
the agents for the vendors, would have to meet
it. Under the circumstances, we think the
Eberhardt shareholders may await with equan.
unity any new phase in this somewhat singular
controversy. " ~ g
Another subject affecting the two companies
the Eberhardt and South Aurora-was also dis
cussed, as, indeed, it has often been discussed
before. an Eberhardt or a South Aurora meet.
ing constitutes a field day for our friend. Mr.. T.
G.. Taylor, which he cannot let slip and OF
which it would be an act Of inhumanity to de.
prive him. He rides his "hobbies." or. let us
call them his pet projects go good humor.
edly tha., whilst everybody expects his eques'
trian performances on these occasions, no one
complains of them. Now one of Mr.. Taylor's
favorite " steeds," which he has ridden with
great consistency all along, is an amalgamation
of the two companies. Once upon a time that
might have been seriously entertained. and we
are notindisposed to think that the result would
1HfN NA| 1Vh "a
Germs, but that day has gone by, we fear, for
ever. AS the Chairman very well put it, II
you amalganlate with a company, you do SO to
gain some advantage. but I must say with regard
to this almalgation l cannot see any advantage
that we shall get by it. We have really a good
property the mines are yielding we'll, and the
mill is working admirably. The South Aurora
have a mill they have also a mine. which al
present is worked out. butt do say if they were to
go to work they might discover something,
thOnOh If they choose IN frittar q waU thair rnOnev
in different parts of the globe instead of using
their diamond drill and fully exploring theil
own property, they are certainly at liberty to
do SO; but 1t is perfectly absurd, when we are
in a position OF prosperity, to ask us to hel[
them, when they will not put their own Shoul
ders to the wheel and get themselves out of the
mud" This is, perhaps, hitting our South
Aurora friends a little too hard, but be that as il
may, we do not see how an amalgamation can be
brought about under the existing condition OF
the two companies, When the South Aurors
had capital lit has it now, and when the Eber
hardt had none, and was very much in want OF
it. then an amalgamation might have beer
effected, but ut present we fear it is futile t.
think of it. @Wsrrat#
The last question touched upon at the meet
ing was the one Of remunerating the directors
and here we cannot but think that, had tht
shareholders more fully realized the merits oi
the case they would have voted for the large
sum of 1,000t.. instead of the smaller one o.
GOOt. The general feeling, however, was not ont
Of indisposition to suitably reward the directors
but of indisposition to do SO until the share.
holders themselves, as Mr.. Taylor put it, hat
"tasted the sweets of prosperity" When tn,
directors are in a position to declare a dividend
we are sure they will find their constituency
ne ther niggardly in their reward nor ungrudg
ing in their praise. With 10. O0Ol. in hand by tn
month of July, and with the prospect of a favor
able summer before them for mining operations
they are not likely to have long to wait ere the,
are able to make GOnoe raf1rn e To their howe
holders, and to receive q more handsome on
themselves.