New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-05-26
THE REPORT.


s,uv beg leave TO submit the following report:
On the 2sth Of February, 1876. the House adopted
,ssontion in the following words:
,or,a That Committee Foreign Affairs be author
10 M e Court OF ST t James with the
Emma cal ed that have power TO send or
md s.ss5s 81 SG the Ed use s'''
The correspondence which had taken place In refer
70 this subject between the Secretary of State and
Can Robert c. Schenck, the Minister of the United
s,ss at the Court of st. James, and the communiea
on ~ the Secretary OF State accompanying the CORE
,nondence had been previously referred back by tue
gou.s TO the Committee for further consideration
This correspondence developed the fact that In the
month OF November 1871 the American Minister at the
court OF ST. James had become stakeholder and drec
tor Of the Emma silver mining Company OF London,
,ornoraten formed In Great Britain, the country to
xhioh be was accredited for the purchase OF mno III
,be limited States which he represented as Envoy bx-
traordirar and Minister PlenPOtentialy. 90 i"i S
tbe COMMITTEES have been able TO ascertain ana
thew believe II ~ be true, ths tno , 1iee
occasion in which dplomauc G dp1ewed HIM.
self 10 become associated while acting as MINISTER IN
private enterprise carried on IN 9 own bc is accredited
Tue questions presented, therefore, Tor inquiry a 0"
whether it is proper for American Minister to 81;
low the use of his name, and consequently Oh ns @
position for the cannot be separated to urther ,e
sae oil American property in the open markets Oh 'ne
country 10 which he Is accredited. -. .,, ,o,sr,v
q Whether his relations ~ the vendors OF ne propy
dave been such as to cast suspicion upon his motives
and subject his action to unfayorable Grill ism .,
g. Whether his su sequent action 10 oonneotloh t Mn
the Company shares by dealing In them or other
wise is compatible with the proper exercise OF ms uo
matte functions and the maintenance OF postum VI
honor aad usefulness at his post Of duty. ,
II the COMMITTEES are right IN iher view o, .Ie of The
real value of Emma Mine has special bearing upon
the conclusions to be reached Trey nave ave. onnt Of
testimony Subject because evidence bearing upon
that point had been taken prlor 10 the arrival Oh Con
scheneS who therefore insisted that it necessary
for his defense and vindicaton that furtner testimony
man 80 long and eminent the public service any priv
nege wnlch he might feel disposed 70 claim lie mas
therefore had fun liberty to produce evidence giving e
whole history OF the enterprise, and the result is the
volume VI SO printed pages which Is herewith sur
mass of evidence it appears that in the month OF April
1871 Trenor W. Park and Henry H. Baxter both Alner-
Silver Siine. situated in the Territory Of Utah
Tor the sum of $4,000, and subsequently one
N ne subject, to the claim then in litigation OF
James 91 OF MscSnn iCT oS Ws epre s
Rs counsel by William NJ Stewart then SENATOR OF the
United States from the State OF Nevada: In August
1871, an agreement was made between the owners of
the Emma Mine and Stewart, acting as the attorney or
pfoperty should be offered for sale and the
claim OF Lyon finally adjusted, but b, was expected dni
represented that the amount likely to accrue to Lyon
would be $500 oOO will appear from the annexed let
tar which Stewart sent TO Lyon Ct tine tune 1871
FRIEND LYON Hlyer wiz start in about 20 maue7 lie
% get bat ater three days the best could get
The plan has TINS o viii NOT be INJURED an If we
gain the case sha something besides the right 70
EasanG by the they and the manner Of sending
have seen Their correspondence the Englsn
hS0se' ssy sent 9s S @ as ai s 70
op reputation have refused to give up tne
You will W thout doubt. get that VIM M sTswAHr
fourth Of tie amount whoa might be realized BY Lyon
In September Park representing the owners OF the ne
te Of eIiing tho property The evidence
that during the Summer aud up TO this iine exLaor
dnary Ell rts mad made to produce large yield OF
or from tao NINE and that the product OF the four
months from LIST May 10 LIST September was mucn
tsrwarI All tho rich ore produced was forwarded by
steamers England there sold and the large yied
and value Of the ore were wen Known 10 tne niin'ne
sCHENCK's INFLUENCE SECURED.
On their arrival In London they were met by c.
H. Fisher an American lawyer, who, 1t is testified
had done a good deal Of legal business Tor the
American legation, and whom Gen. schenck had known
In London prior to his appointment as Minister Fisher
introduced Park and Stewart to Coates Hankey as
firm DESTROYS 10 purchase the property. coming III
made with this firm, which subsequently
fell through but the introduction by them of
Park and Stewart Albert Grant of the firm OF Grant
Co. OF London. well known for their success in BRING
ing out or floating" as IL Is called. new companies
covering the month Of October. 1871, Albert Grant
agreed 10 take up the enerprs for reasons wnch nc
which appears in null in statement OF Albert Grant
attached TO the evidence herewith submitted In this
si@an' also induced in The evidence: 80 'r' - '
Being OseSgh satisfied with this report made an ar
my Ind obtaining the capital necessary enable the
fns one million sterling which they stipulated take
In addition " the de before referred
NJ informed me he mad reason 70 hope and believe that
Join Board u Directors adding that he knew something
snoS s 81 s ssar AID M PARK asked me- wsier this
G would be % ons Soat O be- Connected
Tie cmpsny, and especially 70 myself as addeS' .et reT
known honor character of the American Minister
s, not qPpsS Tor ,s.n % TO ne the
Of hs ofcl position, abdertakingm the good iah VI
This pToOo Tor Cen soSeDSk to join Board
cautious sxesn.nood as 70 the as an
81 o. r Fa2s and d as sSG who
serves TO oD the sosr believed entirely GSg1Ins
ey position assist tis Vendors obtaining the capital
tor The Company That was my hxed opinion then LOT
II wall lhs be seen that Albert Grant alleges that he
the English market because tho American Minister had
agreed 70 Join tho Board OF Directors and TO lend thc
his oicia position TO the undertaking The evidence
goe 10 show as0 clearly but NOT VI course absolutely
sold that In the English market, which
was not then favorable for the sale OF mining property
Prk however That ths cement with Grant
vas verbally completed before he applied TO Gen.
DC enck 70 become director, although no had previ-
ousy agreed take stock but no admits that the con-
tract III Grant Co. not signed dnt after lie had
procured the consent o. Gen Sohenck 70 JON inc
sustained in his statement that he did not finally decide
engage in the enterprise unt ne had satisfactory as
sufances that schenck would become director
HISTORY on THE ENTERPRISE.
The contract with Grant Co. 10 given ut length In
the evidence. II provides that the property shall
be capitalized at al,000.000 half Of (which is to be
osered public ut par In $50 shares, and the other
half Of the be retained by the vendors for
nine months unless Grant Co. should consent to their
sale at earlier date Grant Co. were to receive as
compensation for promoting the Company 20 per
cent equal TO 100000 fbe sale of the first half Of
the shares and onehsn Of the profits realized upon the