The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1877-12-21
)nlcial Press OF King County.
Friday, Dec. FL, 1877.


The San Francisco papsrs are full OF
the expose of the affairs OF a certain
mine known as the Justice. situated in
Lower Gold Hill, Nevada. adjoining
the mine known az the Overman. This
mine has been worked ever since 1868,
levied numerous assessments, and taken
out large amounts Of bullion, but paid
no dividends. For the past four years
it has been controlled by the great liq-
uor house Of Schultz s. Won Bergen,
one Of the oldest on the coast. About
eighteen months ago, owing to disss-
trous speculation in stocks OF mines
which they could not control. they be-
came very much embarrassed and Hay
ward came within an ace of closing
them out Of everything. But call on
the over ready. "Lueky Baldwin"
saved them, and he sent his check for
1915, 900 to the desk of the Merchants
Exchange bank to liquidste their in
debtedness to that institution, Of which
Hayward was the head.
Any one would naturally think that
after Baldwin had done this for them
that he would be the last man In the
world that Schultz & Won Bergen
would seek to defraud. But several
months ago the man with the big hotel
began to find out that he was getting
the worst Of it," so he set the traps for
getting control OF the stock. Having
accomplished this, he ousted the big
whiskey men from the board of Di-
rectors. filling their places with Archie
Borland and John T. Hill, the former
of whom 10 one of the ablest quartz
miners on the coast. These two gen.
tlemen, suspecting that the condition
Of things warranted investigation, be-
gan to look for leaks in the treasury of
the mine. They discovered that the
books had been handled by some per-
son who Was unusually dextrous in the
use Of penknifs and that tl32. 900 was
unaccouuted for by tho Treasurer,
Schultz. A further investigation re-
vealed the fact that an assessment of
three dollars per share upon the capital
stock Of the mine. amounting to sixty
thousand dollars in oil. had been lab
sorbed" (stolen is very awkward in
mining business, you know by the
aforesaid Treasurer. The consequence
wss suit by attachment upon the real
and personal property Of the delinquent
Treasurer and his partner, the value of
the property seized being over 5000, 900
All this shows the rottenness Of the
management Of silver mining in Ne
vsds, under tho manipulation Of the
head Offices of the companies In San
Francisco. 1t has progressed to such
an extent that mining is only another
name for robbery. after the shares of
. company once become listed at the
stock exchange. It should serve as
warning to oil merchants on the coast,
not to take money out Of their legiti.
mate buainess to speculate in stocks
even in companies like the California
or Consolidated Virginia, which pay
dividends every month. It was by
speculation in those stocks that Kel-
log. one of the most successful mer-
chants in San Francisco, sunk half .
million dollars. Ophir drove Ralstoa
to suicide and Hale 4 Norcross wrecked
. handsome fortune for Governor Low.
Stick to the store gentlemen. and be
content with legitimate profit ON arti.
cles having tangible value. A share
Of stock means nothing.
There are upwards of . thousand bro
ksrs In San Francisco aud at least
nine thousand more who do nothing
but gamble in stocks. This is paraly-
sins lawful business and driving in-
dustry into the background.
The rascally practices in stock trans
actions in San Francisco have been q
great injury to that city, and - Puget
Sound depends entirely upon that city
for its prosperity, all our people are
more or less affected by the condition
OF adAirs in the great emporium OF
the Pacific coast. Therefore, as the
California Legislature is now in session
and the vsxsd Senatorial question has
been disposed Of, We hope to ses this
ccrroding ulcer cauteriscd BY whole
some Legislation which will conteract
the sphere Of saoh stock operators and
thereby reduce the number OF atrocious
swindles now being daily psrpetrated
under the name OF stock operations.
The dealings of the Stock Exchange
have made "houor among thieves an
obsolete proverb.
REsHIPPKp.--The schooner d. s. VII