Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1875-04-23

are aware That Suit Has iSNShtiy pNNH AZ
.tituted in a New York court, by the Eng
lish company which owns the mine, against
Hon. T. W. Park and Gen. II. II. Baxter,
alleging fraud in the sale Of the mine, and
claiming damages accordingly. We have
before Us the (printed) answers of the defend
ants to the complaint of the Emma Silver
Mining Company in this suit; and as formal
documents, attested by the oaths of Mr..
Park and Mr.. Baxter, they are perhaps en-
titled to more weight than the newspaper
communications by which the controversy
has hitherto been carried on, in this coun-
:rv. The subject is of interes; to all Yer
lnonters who do not desire to see promi-
nent citizens of this State falsely held up aS
swindlers and abettors Of a swindle. Such,
we may say here, in reply to some insinua-
tons t. the contrary, is our own only lie
sire in the matter-beyond, Of course, the
general desire Of honest men that truth
and Justice may prevail in all matter,
Further than that We have no earthly IL
tere.. in this business Of the Emma Mine.
In 10 this time We have seen No reason why
the word of Mr. Park and Mr.. Baxter
backed bg the intelligent endorsement Of
suah men qs Judge Poland and Edward }
Paeii-j should not be taken, and We have
DO le,r~ ,,,at they viii not be able to make
good tleir pledge to sustain their sworn
statement in q ooart of justice.
The charge against these gentlemen is in
brief that. IN connection with Senator ". NJ
Stewart, they bought a spent and worth
less mine in tab "salted' it with ric.l
specimen of ore; hired Prot. Benjamin Sii-
liman. of Yale College, to make false re
port re.aTGin. the value OF the mine got az
Il company in England with the aid Of Gen.
s.heuck. tie American Minister and on the
strength ~ such manufactured evidence
sold the mine to the company at an euor-
nous profit THIS We understand to be the
substance of the complaint Of the plaintiff,
in the suit
The answers show that there have been
tire Emma Mining Companies. The first
o. these was the Emma Mining Company OF
Utah. which originally owned and in part
developed the mine. but which had not a
perfect title-thc title being in dispute.
Messrs Park and Baxter bought half the
mino Of this company for So, 000, com
promised the law suit by proper arrange
ment with the party contesting the
title perfected the title, which at
once added immensely to the yalac Of
ths property and organized the second
COMPANY the Emma Mining Company Of
New York, with capital Of Sj,0O0.o0o
Tais company bought in the half interest
stu held by the tab company, and held
the title To the entire property. OF tie
stock of this company, Park and Baxter
held half in equal shares, and the rest Was
held by nine other persons named. This
company decided to sell the mine-it having
in fact been the agreement between all the
owners, when the law suit was settled, that
the mine should be sold to the best alyau-
tage. They determined to sell it in Eng
land, because that was the best market in
the world Tor mining property, and because
the silver ore thus far produced by the mine,
to the value Of over Sj00,000, had been
shipped to and sold in Liverpool and L)L-
don. Mr.. Park went to England TO sell the
mine for the company. We have not the
space TO note all the transactions leading -
the sale But the principal facts are that
an English company was organized, under
the title Of the Emma Silver Mining Com
pany Qimitell Of London, for the
purchase Of the mine, with nine directors,
of whom Ten. Schenck was one, among the
Others bain. three London members of Pan
Lament AMI other gentlemen OF high char
aeter aud reputation named We do not,
by TIE way, undertake to defend General
Schenck'S ton in the matter Holding
the position lie does, it would have been
prudent for him, we think, to have kcIt
out Of this transaction as well as oat Of tac
business of teaching poker" Bat lie
seems to have had some very respectable a.
sDcates in this company. The English paI-
chasars engaged Prof. Silliman. As scen-
t:fc geologist, to examine the mine he
went and examined the mine without pre-
yiou~ notice to the superintendent Of tie
mine, or any body connected with it, that lie
was coming or that any examination was TO
BE- made and his Iay for the service IVES
not in anywise contingent on the sale Of the
mine or on the character of his report On
the strength Of his report and of the report
of two Of tie English directors who male
personal examinations of the mine, and of
statements from the books Of the English
Commission merchants who had marketed
the products Of the mine, amounting By this
time to over 100000 in gold. the stock
was sold to over thousand English stoel-
h holders.
The defendants aver in the strongest
t rms that The sale was square, open and
honest transaction that the mine. Mt
emitting consideration oil the inevitable ri,k
Of failure Of the veins of orc-a chance
which can never be provided against with |
certainty-was worth the price obtained for
it; and thar no fact or circumstance M |
terial 10 tie value of said mine, or affecting
the sale or the price thereof, was at any tine |
during the negotiations for said sale. or at |
any time subsequent thereto, Suppressed,
Concealed or in any way misrepresentcl"
by the defendants The English purchas-
rs, they ,ay, were guided by their own
Judgment and information. and the defend
ints did not in any respect become guarau-
lrs Of the value Of the mine, or make any
assertions OF It's prospective value. They
'old the mine FOR what it was worth on its
ace, and the purchasers were satisfied with
heir bargain. The mine. after the English
company took possession, paid '1irtesH
monthly dividends on its capital, at the rate
II eighteen per cent. per annum, amount
ny in all to more than 100000 in gold.
But in time the mine, in consequence Of
nefhcient and unskillful working. as the de
endants say, ceased to pay the stock ran
Town in the market and the present suit
las been brought by parties who bought the
took at low rates for the purposes Of lit
,ation and speculation and thus secured
'ontrol. Only a small portion of the mine,
n width, depth or length, the defendants
ay, has vet been explored and with proper
xploraiion they believe its product might
,e as great and rich as ever
This i substantially the defendants case.
The truth Of these assertions they. of course.