New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-01-17
THE EMMA MINE SCANDAL.
TIE NEW DIRECTORS REPORT.


| STATEMENTS MADE-LEGAL JoBDERY SUSPECTED
MIR. M.CnOUG,LL LIKELY TO ACQUIRE FULL
! CONTROI-MINIsTER sCHENCK CHARGED WITH
BRIBERY-MR. IRVING THE TRAGEDIAN AND
HIS AsSAnANTs.
TFRoA THE REGULAR CORRESPONDENT or THE TRIBUNE.l
LONDON, Jan. G.--Emma Mine matters are once
more looming up in menaciDg way. The report OF
the directors to be presented to the meeting Of
the Company tomorrow has been issued. 1t Is by
no means pleasant reading-fJr anybody. Not for
the Shareholders who told that of the { ,O00-
900 they have paid, there remains TO them the sum
of G2, 47S-just over $l2, 000-plus claim on some
Chicago real estate Not for the last two boards OF
directors whose accounts and general doings are
challenged and whose good faith is impugned Not
for the vendors. who are alleged to have obtained
that 81 00O.0 900 by fraud and who are warned that
thoy will be called disgorge their plunder Not
for the original directors who are held responsible
for the false statements of the prospectus. And
since one of these original directors, Gen. Schenck
was at the time United States Minister TO Great Brit
aim the report Of intended proceedings against him
cannot be called pleasant reading for the American
people, whom he still tnisreprcsents at this court.
More or less Of this was known before, but the
present Board now commit themselves to n fresh and
startling statement They have been endcavoung
to ascertain whether the American lawsuits now
pending, nominally in behalf of the Company have
been conduced-I quote the words OF the report
Z" for the bona fde purpose OF recovering the money
obtained from the Company for the mine or whether
they have been conducted for the purpose of ex-
hausting the funds of the Company; thus making
any proceedings for recovering such money fmprac-
tcabe.7 They go on to say that they are not by
any means clear that these proceedings are not the
result Of some arrangement between Park, Albert
Grant, Messrs. Barlow Mcfarland 81 Co., and
Mr. Albert Turner. They alege that they
haze discovered evidence of tho exist
ence Of confidential relations between these
persons, although they represent opposite and con-
hicting interests. Mr.. Albert Turner was the
En- glish solicitor for the Emma Company under the
last Board, but has been charged with being con-
nected with Grant. Mcssrs Barlow, Mcfarland N
Go. were employ I'd by that Board as the Company's
solicitors in America but have hitherto acted, says
this report, as Parks private solicitors. On this
state of facts counses opinion has been taken, and
the opinion sent to Messrs. Barlow 4 Co. with re-
quest that they will furnish fuller particulars to
the object and nature Of the proceedings before the
American law courts. 1t appears further that
Mcssrs. Barlow d Co. have written to say that the
American courts require the Company to deposit an
additional sum of -, 900 AZ security for costs.
They demand at the same time that their own &C
count 70 date should be adjusted that provision be
made for the future expenses Of the litigation, and
that the books, papers, and testimony which they
require be sent to them.
The directors do not communicate the nature of
the testimony which they base their suspicious
that Mcssrs Barlow q Coz while representing the
COMPANY are also acting for Park, with whom the
Company is carryingo on war presume the publica-
ton Of this statement will be sufficient TO call out
an explanation or denial from Mcssrs Barlow d Co.,
whose reputation honorable firm entities us TO
expect that their share in the matter will be salts
fautoFily cleared up. But the present charge IN
wolves .shcrs also-iuyolves the directors who en-
ployed Barlow Il Co.; involves Mr. Albert Turner,
and perhaps others. | need hardly point ont that
if there be any truth il, Mr. TrenOr W. Parks
rlceful wells If triumph the expected abandon
mcnt by the Company Of the suits against him are
sufficiently accounted for.
As 10 the mine itself the directors tell us that it
has not been worked since LIST of December, 1874
and it il now in the hands of the Marshal, under
attachment Of Mr. Park, who has obtained a. jndg-
ment for his claim, and who, under that Judgment
by giving 81 days notice, can sell the mine, and who
has already under that Judgment actually sold nil
the plant tools, and ore the dump-that IL, all
tho cxcavated orc-and there remains, therefore, 10
mine, no tools, and no ore.
What then il the Company to doi It's stock
from Park. Albert Grant. Schenck, and the rest of
the gang who. as vendors agents. promoters, direc
tons or otherwise contributed To the original fraud
To prosecute such claims funds must be had aud orl
narily they could only he had by assessments or sub
scriptions from the stockholders themselves; many
Of whom would probably think they were merely
invited TO throw good money after bad. Bnt here
Mr. Alexander Mae Dougal the ncwly-clectcd Chair
man of the Company, and its largest stakeholder
stems in In accordance with an intimatiOn before
given he now offers to undertake nj his own PER
sonal risk all the expense of the legal remedies Inc
advises He can only proceed of course, in the
name and in behalf of the Company itself. To OBJ
tain authority for this, special meeting OF the
shareholders has been called under advice OF cOun-
sci for Friday. Jan. 20, when legally sufficient
/ resolution will he proposed and recommended
by the directors From the date of its passage may be
rcckoncd the commencement of hoslllieSi earnest.
! Mr. MacDougall is known in London for one Of the
| most rcsolute of men. He has carried on 4 struggle
! for years for the control of this company. He has
| got it, aud with il he has got the power for which
he wanted control the power to proceed in his own
way against those when he holds responsible for the
| swndc. lie has money and courage, and it is not
likely he will stop even though his progress should
| lead him over the PROSTATE body of an American
| Minister. lie has not hesaed to say
publicly III the newspaper he owns that
! the American Minister was brbcd. lie
will not be likely to hesitate when called on to prove
| his charge Indeed, it is not so much question OF
| proof as of construction. Gen. Schenck has con
fessed to receiving $4,000, under the form of a
| loan from Park himself, stranger TO him: a man
with mino to sell to the English public. He takes
the 500 900 from Park with secret guaranteed 5