The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-06
EMMA MINE.
MR. PARK TELLS THE STORY OF HIS NEGoT1A-
TIoNs IN ENGLAND.

xR. PARK TELLS THE STORY OF HIS NEGoTIA-
TIoNs IN ENGLAND.
WASHINGTON April s, 1876
Trcnor W. Park testified tesore the Committee on
Foreign Affairs to-day relating the circumstances at
tending the purchase Of tho Emma mine by himself,
Baxter and others During thor examination OF the
mine previous to purchasing no gathered specimens OF
tho and took thcm to the Assay Office at Salt Lake.
There no learned that the would pay about $40
ton, or x37 II aclverod in England He coDsid-
cred IL cheap minc at $5,o00,OO0 From the dato
OF their purchase In April to tho last OF August the
value OF tho orc taken $685., 900 gross, and
the expenses OF working tho mine SIS, 629 The wit
thsn related his proceedings in England where ho
TO sell the mine. shortly after his arrival there
Fisher 4 Coates wanted to buy tho mine without de-
lay They said they already knew about its value from
sales Of ore from Il that had been made in England.
He thought this was gong rather last, but after
honestly telling Coates be did not know the present
condition OF tho mine. but could only vouch Tor lis
past condition, no nnally yielded to the urgent
quest Of Coates 10 nanc his figures, and told him he
world cell Tor fs0o.00o In cash Tor one half oft
E500 600 IN fully paid up shares for the other half;
Park told Coates that he Of course, expected the pur
chase would nc contingent upon satisfactory report
tho mInc, to be made by some scientific expert or
experts Of hs purchasers own sclection
Coates and the English parties represented selected
Professor siiiIman to examine and report upon the
mine; Park did not suggest Sliman's name or men,
ton him nj all: Coates told witness SiIIimsn was Sc
cctcd being 1.-THE sir Robert Murchison oI America"
ability Of Coates ana his partner 10 carry through the
arrangement Tor the purchase. which they had agreed
he named the figures above stated, and
told IN reply that IT was doubtful II they could
carry Il through unless they had tho famous Albert
Grant nc their back did not know whether this
not Tho witness then related facts attend
ing the failure OF Coates to comply with the terms OF
the negotati0n and said that Pollard informed him II
out OF the question for Coates To raise flOO vO1
Coates had introduced MIN 10 Albert Grant. with
whom he and Senator Stewart subsequently had an
interview nj brighton by invitation Grant was willing
10 undertake TO put the Emma Mine on the market,
provided tho vendors paid al IN the event OF
failure. Park objected TO this, saying he would take
tho mine away with hun, unless he could sell at LIS
price. Subsequent events were related at length,
including the guarantee OF tc TO the mine. which was
given by Park and Baxter. aud also the facts con-
nected with the formation Of the London Emma Nine
Company. II there anything dishonest IN the
sale vi the Emma Nine IN England or any fraud, or
sharp practice between gentlemen, the wit
SAID under his oath, that he knew
nothing whatever about II; the mine Was
worth now as much as II was sold Tor Tho
witness received the unanimous vote OF the Board Of
Directors Tor the fairness OF the manner 10 which he
conducted the business the witness referred 10 the
don Tor the purpose OF nurng the stock which led 10
the sending 10 Utah OF Mr.. wliags 70 ex-
anime the nine order the request OF the Witness
verify the truth OF his statement ana OF siimans
report; the telegram rent ny Williams 70 PARK from
Utah the effect that not only Sli.sman's
verified, but the discoveries Of ore were beyond
what had been previously represented; Williams then
bought 900 shares OF The Emma Nine stock.
Tho committee adjourned I'LL TO.