New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-04-16


believe at that time. does he helieve that any
fact statement or representation In said prospectus con-
tanned was, IN any respect false or untrue.
THE HRRoR IN THE sIlLIMAN REPORT.
And tas defendant further says that the said Gilman
IN his SAID report upSn information deriv from the
books and employees Of sid mine, at Sa6 Lake City,
alsd notupon his measurement examination, had
estimated the quantity of accrued and ready for
shpent and In he Orehoase aud the floors of the
mine ready Sold at $50 tons; that this defendant
had estimated said 90 COates Hankey at 1850
tons but receiving said report supposed he had made
an error and az the time said report made believed
said quantities b correctly stated by esimae that
fnasuch the said had been measured by said
siliman, IL was agreed by TITS defendant and tie
directors Of said company Llst any error SHOULD he
Ing to equity; that aftoTNard this defendant was In
formed that by an error IN the statement from the books
81 salt Lake CITY the said qualify had been over
estimated and that thorc were only lsOO toUs OF such
then out; aud tut this defendant at once informed
ever $4,000 for said dehcicncy that such error was
never IN any way eoneeaeS or ASPt hoSlSt; t"aI
mistake this defendant further says that with this
posed in and about said mine in respect par
bcuar ovorsated Ovcresniated by said siman, hut
taken from said nue many thousand tons Of silver
IN excess of the quantity 50 estimated by said silnan
Ana s defendant further says, that after himself and
said baxter acquired their interest in said mine, the
was worked ami operated diligently, and such mines
usually without ans ntermsslon or suspension and
MAR course To tho cOnsignues hereinbeiore namesi
And this defendant ayers that alter he acquired
time when the transferred to said plaintiffs,
the worked in the due and regular course OF
V4ousy and otherwise and that al the statements
esAned In said plant, the contrary thereof and
especially all the statements contained in folio 30 10 30
inclusive, are wholly false and untrue
That IN due course the said Fantn company was duy
srcanzpd Ouehalf OF its said ptal stock issued 10
te vendors and the balance thereof subscribed by large
tc Company, the said EInma Mine and property were
conveyed by the Emma Mining Company OF New-1ork 70
putr corporation, and the directors ohces ana STOCK
holders thereof ana the price agreed IN aduJOh 70 Ie
issue or said stock, was paid to TINS de4endmt
and the otner shareholders IN the Emma Mining
Courpany OF NcwYOrE, 20 their fun satisfaction;
and the said plainun company thereupon entered mo
pOssessOn said mine ana property, ana natn ever since
joymcnt Of the profits thereof Aud this defendant AYERS
that all his acts and negotiations IN respect TO the sane
e SAID mime down to the conpiesoh IneFe9 ne Setv
and claimed act exclusively AZ the agent OF the Emma
silver Mining Company OF New YORK, ana not IA MS own
behalf In behalf OF said bd&ter except as uey were
OvghodeTs IN said last named company, al Whch Vas
In their behalf ana that on the eompeuYn VI sl3
sale, the mine and property were conveyed by SAID
Wit ON the 3Oth day OF November, 1871. And this de
fenani that during the aforesaid negotiations, ana
the said mine to the said plaintiffs, aud the payment
theretOr, every fact circumstance aud particular mate
nal 10 the then present value the future prospects OF
sie,- 70 sr or mar was men caDahle of being uown
by either Of them by any acquaintance with lis past
HISTORY was fully KNOWN 10 Iud undels Oo Dy tut pam
tfs aud an persons who acted IN behalf Of the plaintiffs
in said negotiation and sale.
THE RIAL RESOURCES OF THE NINE.
And this defendant AYERS that the only fact then
material the value Of said mine that was not known TO
the plaintiffs their said agents. The future duration
of the vein deposit Of beyond what was at the
time disclosed by the working Of the same, which fact as
This defendant AYERS and believes, impossible to be
known o. positively asceraned either by observation or
BY the use Of any scientific research or practical e&
perence And IL then fully understood by the plain
s and their said agents, that in making said purchase
Frrfur nr-
ration and extent Of said vein or deposit
beyond what then visible, as the puTchascI IS
dafnant AYERS that tue said and property, ~ i
stood Al tue time OF said sale and conveyance, was well
aforesaid nsmuch the conveyance included not ony
t mine ami large quantity OF silver ore thsren tHi
second class then on hand II sad lhc IdrSe
OF orr then in transit England and the sum OF ueary
500 GOO being the proceeds Of sold pending the
negotiation, paid over IA money 10 the pun
or deposit for the period 10 years the usual
Tate OF working, could then have been ascerained or
R1,rauteed the same would have been worth auc could
have sold for many times said amount nis'eh as
The actual profit Of said mine at ule le oil $40 saie
~ England to Dc smelted, was at the rate oi more Than
And fs defendant further saith that the saG plaintiff
company continues 10 work said Enlna nine 10 tAiIe
silver tcrefrom and transport the same TO market ano
1ian company applied TO this defendant and the Other
vendors OF said mining property, and requested them u
offer subscription al amount OF tl-f StOCA so''u
Inc London stock Exchange, TO the end that tGe stock Of
said Company might be offered for s;c according 70 su
TIlss Tiat 6y said rules 10 required thtt tHOfhl Is
of TIE stock of companies as the plaintiff should bt
sold by tie vendors before such caLu stoCh cguI Dy
sclduiou said Exchange, and inasmuch az TINS defendant
and hs assOcates held onehaf OF the capital stock Of
aaid planuh company 10 tho end, IL Ws NECESSARY ti
coieideiabe amount OF their stock should be sUd
that the time O such request certain persons hau c
oated Ia the city London false reports, 10 inc ehec
tlt HE mine Was neary cxhaustci had been sold 70
tle plaintiff company at On e2 tihy9gals pre- anu e-
false represent atoms had been made affecting thf sac
tLcreOf That this defendant declined 10 comply VIA
said request, and nOt4Aod She pal'In CcIs "a 1T %
would consent 10 The sale u any Pcr1o VI ne st1cA
oWDe,i by hun or his associates unuI a eV1hltlee az
onted 6y said board Of directors should proceed y
Jta, and make examination OF sad Ehla NINE an,
property, ana report 20 said pianuh e0mpuny ~ 70 Lt
Ruth of said reports and whether OF not TINS deichda
ar anv OF his associates had made any msreprCseha
or false representations in any respect 10 relation 70 sac
s01,rany appointed T. Bridges WiuyaIns, esq, then
Deputy Chairman and Ineihef OF sac boalu 20 Plo
ISat the said wiIyans was in all respects persor
nach ne be erenced IN the smelling OF silver ore
and acquainted with the value thereof That under sac
appointment the said Bridges NiDyans proceeded u
Utah and made a thorough examination OF ssld IInlni
Mine on or about the Isl day Of March, 1877, ana tO
pOsstssf0u and operation OF said Emma Mine and prop
erty, aud after such examination die sal,
Williams made s, ms rp ana eject tue that tic
sad mite was greater value than had ever been rep
tr 6ebaIg and that ali the statements coutia!
thereof circulated Aforesaid were untrue ana te sl
euily upOn his said examination, ing therefor moi
tba1 the PAR value thereof That upon the faith OF s'
Wiyams's report, and relying thereupon, ana upon h
Tqns Of the plaintiff ths defendant consented TO and dc
odr for public subscription for the purpose CT enabling
te stock Of said company TO Dc sola upon tne Lonu
Stock Exchange. certain humber OF thor slares 70 VII
about $500 shares Of said caai stock ~ ana IVI '
price OF s23 per share That THIS defennt at taI nm
consented 10 such sale at the request OF the plH Io
the purpose aforesaid.
FAVORABLE REPORTS TO SHAREHOLDERS
fin -