New-York tribune., 1876-03-25
sona favor The witness was assessed 500 for political
purposes at Washington and paid it.
EMMA NINE TRANSACTIONS.

EMMA NINE TRANSACTIONS.
EX-SENATOR STEWART CONTINUES HIS TEs IMoSY-
TERMS OF THE SALE OF HE NINE GIN.
sCHENCK TO BE EXAMINED ON IgEsDAY-AF1ER
sCHESCK, PARK
GENERAL PRESS DISPATCH.
WAsHINGToN. March 21.-ln the Emma Mine
investigation today Mr. Stewart submitted the depos-
tion OF Mr. Hampstead Of Salt Lake. counsel for Mr..
Lyon and associate counsel Of the witness In relation 10
the also dispositions taken and used In the
Emma Mine suit and which, witness sad we're the basis
OF his information the subject OF the mine when he
went to England. The papers were admitted he also
read extracts from letters OF A. NJ. Anderson. dated
November 1872, showing the promising condition of
the mine. Mr.. Stewart testified that, at the time Mr.
Park had engaged him TO defend his Interest IN the
Emma Mine, the Illinois Tunnel Company had run tun
mel to the Emma Nine chamber, and rather than have
any trouble with the Company and for tile sake of hay-
ing matters along smoothly while the stock was on
SALE he thought best to defend the rights of the Tunnel
Company although he did not feel any legal obligation
TO do 90.
The attention OF tho witness called to the amount
OF taken OF the mine detailed in the prospectus
issued In London. He SAID he did moi know Of his own
knowledge that the statement true but h. had never
heard disputed In relation To the estimated amounts
that had been taken out annually, a. stated
ia the same prospectus, witness thought that sub
stanaly correct Ii fell short, and Grant held hiseI
liable. The prospectus drawn by of the In
Cshmcn themselves. II the mine had yielded 100000
a year, as estimated, 1t would have been worth
S3O,OOOOOo $io00OO0O. witness was asked II the
statement was true that 100000 or ~20OO,0Oo had
realized from this mp to the time OF the sale of
this stock He answered that lie believed 1t 10 be sab
stanally true. Witness said that the Emma
Nine corporation in New-York prosperous
corporation at the time they selling this soea
lie had high opinion Of the stock. but would not have
held permanently unless 1t had been under American
management. In that case lie would. There was -
contract between Me.srs Park and stewart TO what
Mr. should be entitled To in money stock He
left that matter entirely 10 Mr. Park.
When Mr. Lyon decided to take the money option, he
did il with fun knowledge he ,sewar had Of every
thing connected with the mine. As between litigation
and the money option, he advised Mr.. Lyon 10 ace Ut
latter lie settled with Mr. Park for the Lyon Inter
est the basis OF 5000 shares. Mr.. Park sold the
stock and he (Stewnrt) did not know what 1t brought.
Mr. PARK told him originally that ho went over and
make such contract as ne ParG would sign, be siew-
arD should make money. The settlements were
left with Mr. Park, and the affair nettcd him about
$230OOO counting the Canala southern and Utah Cen
tra bonds AZ par He also got $4,000 for iilyer anu
IS. 900 for Uiycr's brother in the settlement.
Mr.. Stewart filed the contract between Messrs PafE,
Stewart and Grant signed Now p ISL for the sale OF
the mine. II contains the following proyisions
First: II delivers the mine and all is improvements
formed by Grant Il Co.
SscoId The price shall he 900 onehaf in cash
AT the date mentioned IN the prospectus and the Ie-
maindcr III full paid up shares of tho company.
Jhud: Tie snare capital of the Company shali ne
Offered tLc pa c for subscription To the amount OF
s5O0OOO at the expense OF Grant q Co., aud Grant x
Co Ia Dc paid bv thu vendors 20 per OF the
OF the capital Of the Company, whicn may he allotted
and iAen up after deducns tue amount VI any shares
which may have been aud are purchased
Fourth The vendors shares and those OF the Com
pany not taken up the pubic to be deposited with j.
months Grant O. To have the option Of taking up any
portion Of t within tna time AZ 20 per cent discount
Thi, refers only 10 the shares offered to tie public.
run: The vendors may force Grant 60. 10 take
failure OF Grant u Co. to do SO, ihen the vendors may
take the shares at thc nominal value. aud pay Grant y
Co. 20 per cent Oterwise, the option to remain ia
Snth: Grant & Co TO have a nine months option to
take such further shares a. th may think proper o the
share capital allotcd tAe ycGd1fs bat not exceeding
e250OOO making total Of 1850 o0O the vendors 10 re-
pronts the ale OF all on any OF tie s)oooo shares
Sere Ia ea.e the vendors shalt hnd purchasers at
premium O' 20 per cent or upward for The t-Joopo
shares, then the vendors can require Grant Co. To- sell
10 such purchasers unless they eau themselves sell the
shares at the same or higher price.
Eighh Mcesrs. Grant & Co. are to keep the books and
correct OF all Of issuing shares and
the market, and he vendors shall bc entitled
on,riXh TIE net pTonis r'aZld Nv M"s-f- Grant *
Co. or Me-srr. Grant & co. may pay them 4lO,Ooo In
settcmo OF the oncsAth IN which case MesaIs Grant
a ca. need not render any account.
Co. may buy all OF The stock necessary Ia main
tain the price At account OF The vendors or pay
prce above par that may be necessary to ort the
shares, and the vendors must take The shares up nj par
on setting day at the London stock Exchange
After loug examination that did not elicit much
new nior;naon M stewart told that he might go,
and the Committee adjourned until 1890 next Tuesday
Mr. Faulkner Chairman pro ten. of the Committee on
Foreign AGir- stated this morning that he had received
letter from Gen Schcnck saying he would not be able
10 appear before the Committee until after Saturday
Mr. Faulkner did not know whether the Committee
would invite him 10 appear before them, but
Ee hoped they woud permit him TO give an
explanation Of what he had seen published concerning
the Emma Mine matter The Committee decided 10
hear Mr. schcnck Tuesday morning next and that mo-
tce be sent 10 hin. that effect. II also agreed
that Mr. Park should bc examined Immediately after
Mr. schcnck has concluded his cypanalon.