The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-04-06
THE EMMA MINES HISTORY.
MIR. Trenor w. Parks Narrative His Esti-
mato of the Value Of the Nine,

WASHINGTON, April 5.-Trenor w. Park
testified before the Committee on Foreign Az
fairs to-day. relating the circumstances OF the
purchase OF the Emma mine by himself, Baxter,
and others. During their cx mnatiOn ot The
mine previous 10 purchasing I've gathered specl-
mems II tho ore and took them to the ass
oficc NJ SAIL Lake, where he leatnei that the
ore would pay sl2O ton, or 81, sterling II de-
liyercd IN England. He considerd Il Il cheap
mine at 100000 From the date OF their pur-
chase in April TO the last Of August the value Of
the ore taken out was ss95 900 gross, and the ex
pense OF working the mine S@aG!9.
Shortly after Parks arrival In London Fisher
and Coates wanted to buy the mine without de-
lay. They said they already knew about
its value from sales of ore from IL that
had neen made IN England. Park thought
this was going rather fast. but after
honestly telling Coates he did not know the
prest Mt condition Of the mine, but could only
VOuch for its past condition, he finally yielded to
the urgent request ~ Coates to name MIA figures
and told him lie would sell for ElUO.UO IN casn.
one.baif OF 1t, and eiOJOO IN fully paid up
shares Tor the other half. Park told Coates that
he Of course expected the purchase would be
mine to be made by some scientific expert or
experts Of tho purchasers own selection. sun
eequently Coates and the Engiisn parties repre-
sented selected Prof. SULLIVAN tC examine and
report on the mine Park did not suggest SILL
mans name or mention MIN az all. Coates tOld
witness sillimsn was selected AS being "the
Sir Robert Murchson of America" Park iu-
qured Of Jay Cooke, McCulloch X Co. as to the
ability Of Coates anc his mariner to carry tn trough
the arrangement for the purchase which they
agreed 10, AS soon as he named the figures above
stated, and was told Ia reply that 1t was doubt
ful VI they could carry " through unless they
had the famous Albert Grant at their back.
The witness then related facts attending the
failure OF Coates To comply with the terms OF
the negotiation, and said that Pollard informed
him II WIS out Of the question for Coates to
him to Albert Grant, with whom he and Senator
Stewart subsequently had an interview at
brighton by Invitation. q ant was Wiling to
undertake to put the Emma mine on the market
provided the vendors paid all expenses In the
event Of failure. Park objected 70 this, saying
he would take the mine away With him unless
he could sell at his own price Subsequent
events were related, including the guarantee OF
title to the mine, which was given by PARK ana
Baxter, aud also the facts connected with the
formation OF tue London Emma Mine Company.
IL there was anything dishonest In the sale OF
sharp practice between gentlemen, the witness
said, under his oath, that no knew nothing
whatever about II, the mine was worth now as
much as II was sold for. The witness received
tue unanimous vote OF The Board OK Directors
for the fairness of the manner In which he con-
Quoted the business. The witness referred to
toe scandalous reports which mad been circu-
lated in London fOf the purpose OF in1urlns the
stock, which led to the sending to Titan Of MI.
Williams to eX anime the mine In order, AZ tue
request Of the witness, TO verify tho truth Of his
statements aud Of slim us report. The tele-
gram sent ny Williams TO Park from Utah was
10 the elfeCL that not only was Sillimsn's report
verified. but tue discoveries Of Ote were beyond
what had been previously represented Williams
then bought u thousand shares Of the Emma