New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-03-22
srrwARTs CONTRADICTION OF LYON.


GOOD ONE TO-DAY.
lBY TELEGRAPH To THE TRIBUNE.1
WASHINGTON, March 21.-EX-SenatOr Stewards
history of the sale in England of the Little Emma
Mine as he related it to the House Committee on
Foreign Affairs to-day none the less interesting
because il differed widely in many important details
with that told by Jas. +. Lyon q few weeks ago.
Mr.. Stewart has always been most earnest de-
fender not only Of Gen. Schenck, but of the mine
itself and of those engaged in its sale, and if his
declarations made in the past as well as those of
more recent date to be received, the opportunity
afforded him to-day was one for which he has been
long and anxiously waiting. Ex-senator Stewards
history Of the mine previous to its sale was in many
respects identical with that given by Mr.. Lyon He
explained his hostility to Judge Mexican by saying
that he had taken Mr. Lyons word for certain accu-
sations against the Judge, and had never known
anything of his own knowledge. Mr.. Lyon told
him that Judge Mexican eitLer had or wanted an
interest in the mine and he at the time believed it,
but when he learned what kind of a man Mr.. Lyon
was he saw he had done Judge Mexican injustice
and made apology to him.
Passing then to Mr.. Lyons assertion in his testi-
mony that Mr.. Stewart and he understood in July,
1871, that the mine was about exhausted, and that
they obtained this understanding from Mr.. Park,
Mr.. Stewart absolutely denied that any such under
standing existed. In August Of the same year, Mr.
Stewart wrote a letter to Mr.. Lyon, of which the
latter produced copy, IN which he urged MI
LYON to make a contract with the Emma Mining
Company of New-YOrk to accept one-thiTd of all
that came out of the mine, then estimated at
50 600 OOO with the option of receiving one-elghth
of whatever was received by the sale of the stock Of
the mine after certain deductions, on condition that
he discontinue his suit for its possession. In this
H.,
plan which he advised has this advantage, that We
will not be fighting for worked-out niue. / have
seen their correspondence-that Of the Emma Com
pany Of New-York-with the two English houses to
whom they sent the ore. They crazy about the
mine. The Emma party have been working all
the time to put up the reputation of the mine" he
said that he did not mean to say in this letter that
the mine was already worked out If Mr.. Lyon had
not made this contract he had before him five SIX
years of weariSOme litigation, and in that tlme If the
Company in possession was allowed to go on taking
out ore, the mine might be worked out Mines come
and 60 he said, and he illustrated his meaning by
citing the cases of the Gould and Curry the Ophir
and others on the COmstOck lode, which once paid
large dividends but now make assessments upon
their stock holders He had examined the formation
Of the vein on which the Emma was located, and 1t
was more promising than any be had ever seen ont
good mine, and has no doubt of it now. Other
mines on the same vein which are worked are pay
ing The Emma has not been worked.
After the contract was made, Mr.. Stewart said, he
met Mr.. Lyon in New-York, and the latter was
greatly gratiGed with it. Mr.. Park was then going
TO Europe TO sell the mine, and it was agreed that
Mr.. Stewart should go with him TO look after MI
Lyons interest. The understanding was that no
sale should be made without the consent Of both
Mr. Park and Mr.. Stewart. Mr.. Lyon said IN his
testimony that Mr. Stewart agreed not to consent
to any sale unless the former was to receive
100000 as his share. This Mr.. Stewart denies
lie save that $500, 900 the sum 1t was estimated
Mr.. Lyon would receive; but the agreement was
simply that Mr.. Stewart was to have the right to
veto any sale in which Mr. Lyons interests were not
protected.
On the very day on which Park and Stewart ar
rived in England, Mr.. Stewart SAID, and before they
had time to go to their rooms at the hotel, MI.
Fisher called and told them that Coates & Hanbey,
firm Of brokers, were DESTROYS Of purchasing the
Emma Mine. The next day they called upon these
gentlemen. and Mr. Coates took from drawer III his
table list of names Of clients who lie said were
anxious TO buy. Within a day or two after 1t was
agreed that Coates d lIanbey should organize com
pany on basis of So 600 600, that firm to take one
half of the stock, paying for it S2,OOO,OOO. The
question then arose in regard TO examination and
Mr. Coates asked if some eminent American could
not be employed TO make it. Mr. Park and Mr.
Stewart thought it possible but of course would
not suggest any one. AS they represented the ven
don, that would be improper The next day Mr.
Coates said he had consulted with some scientific
friends, who had suggested Prof Sillman, and it
was arranged that he should be employed.
After this, Messrs. Park and Stewart went to
We from Lon
When they returned Mr.. Coates SAID that Prof
eillimans report had been received and was salts
factory. Then taking out the list of names he had
before exhibited, ho remarked that some OF his
clients were in the country, hunting, and that the
closing up Of the bargain would have to be post
poned few days After waiting a short time, Mr..
Stewart came to the conclusion that nothing was
coming OF the negotiations, and on his advice Mr..
fark wrote to Coates Il Hsnbey that if they did not
close up the matter within given short time, the
bargain would be of. Mr.. Coates replied that it
was all right, and the next day when
'hey called, Mr.. Coates, after some talk.
TOOK them to another Office near by and
introduced them to Baron Grant. The interview
win Grant, as described by Mr. Stewart. was very
amusing one. Mr.. Coates said to Park and Stewart
mat Grant was the man who to furnish the
money. Grant, with great apparent astonshment,
asked, "What money! Then there was consid-
cradle embarrassment, which finally relieved by
haron Grant, who tapped Mr. Park on the shoulder
and called him aside. After they had conyersed
mort time in private they came back and Mr.. Park
introduced Grant, saying that Mr.. Stewart was in
Nfested and that they could talk freely before him.
Alter few days Mr. Park and Grant made con-
tract to sell the mine. The agreement was that it
should be stocked at $5,000,OOO. The other con-
lfAn Al.