, 1880-09-22

Did f1e Accept nnd Then Decline tho
Presidency Of fhe 1IlMlfhts C0n,pRMTf-
Statement OF (:corge ". lknlIAli.

Statement OF George ". isnltHu.
IiR Tteqniph to My Turk irrdi'f.
BosroS, Sept. ls.-About four weeks ago
thu stuck Of the San Pedro l. CaiioM lel
Agun Mining Company OF New Mexico took
sudden jump III this markct frUM nbD,,t
sl.aj share to 81. Tllc reason u.s.
signed was tho announcement that Ten.
GtnIt had accepted tlle Presidency of the
Company. Since tllen, many people, who
lost heavily by tho rapid decline of tile stock
have colnpia[,cd TINT tho t;rnnt story WIS
simply n.ld solely II bum To rulsc tho price,
and that, after tho operators l,ad secured
.aesr "pElc," they allowed tho thug to eol-
}apse by announcing TINT the cx-l'rcsi-
dent had cllai,gcd his nlind and t'ccll,et1
the proifcrcq honor. Atr. Geurgo VIII
jan I}ullou, vim ilas beet chiefly ered-
tied with the movement To- pllcc Ge!l.
lirant nj The hent Ut the Company, 1T
an interview today gave t''c following re'.-
sons for t.1c clnitsu: N cgiispaiiy WIN
ness circles. ten. Grallt and | passed five
pa,y Iii New Mcxico. 'l'ilis property WAS
exanllne.l with tlls utmost th1ro.!ElI.irss hf
t;rant %as aliuars',tfy !lio. n'oxt ,nter-
estru member, ituL probably lie wis uctl,-
ally 81, becnslse his ttccIsio,s In tho 'natter ~
rlflltlHcy iur Its Presidency WIS petltllttE Mt
WIS MI i'iccssHnt Nir'l scnrrhing: 1t IT'S cia,sc
thu General expressed himself entirely salts.
trd IN to tho gr,Mt willie Df tile property. nll
flu methods and orEnnizatimi proposctl for
iii development by tllt San Pedro tutHpnly.
proposltici. to- connect himself with tho Com
u,ny As fts prtsitlutit, ,lMl tho "details IT
snc!I connection were cisttvlssctt alltl MI
prcllnilmfics III f0rl,al attf,it e0lic tsIr4s1gll
with. This WIS mt Il lnl'Iay tour: 1t was
1trnri fpn1 h1ilfNtl4S-liEtt 1IrtltItutl{up NtlI
only histt1pSS WAS nGAnt. At Injecting bC
tllc Directors of thu tnnlpa1y. held III hes
I'M Dn Saturday. 1ntf.s !sSt, Ills invettnE
sssy ,s Ei 'oWs wiz foTy 's Sys ss,'s it p1sss x'a
of tic San l'edrD t'mpHl,y. u1 tlle trtef-
noon Of his election notified l,im by tcc-
Erapll Of the event. t1lti oIl tue Si!lllc after
uuun wfotc of tile actlon ,f thr Directors,
sirlaII tllc purely business connection vi him
sr!f with thr r"ni,rany Ns tar Ms YefnMfera-
tim Al!l tile Ike were tHnctrflta."
tlr. ball9n then slsnHr.i 4 letter written In
reply, which Indicated thu Generals us.-
g4icSernrr and li1s acceptance or the trust:
lfr. BALLOT saltl that ryerybntly connected
with tho chnllMty asrccti lllat this WIS Il
t0t!Iml accGptailcc.
al was," he said, "tn constant reception
Of CORRESPONDENCE, rrosn HIN relating II, IL
-sucls letters. In fnct, ~ wnt1ltt co!ne, ny Il
mAtler OF course, frtHn the head Ut Il business
enterprise 10 his associates separated BY dis
tanrn
your question to State tslnt the next 1nl-
portant letter received from fen. Grant was
o'e 1T ilnlhl annnt 4 nn'ith after |ls letter nf
arGeptalser. The letter now referred IL
WIS nnc declining, the Presidency uf
lhe CN'!tNs1.y,-li bvief, hacki!E out frnMl
the whole enterprise. It WIS not 4 complete
slrprise 10 me, however. i, truth, lln,l re-
eeived some lpt'Mntiol' that ereat rresslir'!
VAS being brought tn bear u,H,t the General
to prevent his pertnn.,ent Gnn1icCtlnh with
our con'pa1ly, a1n! Ills own letters frnln time
II !ilnG contained some eyftleMce lint this
eur, / believed lint iis Would uyeutsl~
ally 'stick,'' and III this lrliuf | WAS
confirmed by .sn,na pf the (;ener,t's
h|t'sl ltli1.sn.e friends, WHO, n.ay sny, wcrc
very tlts[ltAls TINT he should .sa0 50. Tho
tgasnns, given were these. ~ fur III under.
Aave said. sreut press,lre WIS brought. tt,
Mar llin,n the tie.lcrnl by his r1litirAl
frrlids A1lu associates. who Insisted TINT his
polltcHl position wuulsl BE- compromised by
hs coIll,Getion with such II business enter
vEise: 'l'llcn, It Is sal:l, utI'er tuSincss
ihem presenting a tempting allurenlsnt. In.
deed, tie t;et.vral has always l.ul great
fattl IN possible business 0,n'la+Atlls 10 bo
Established III Mcxlco. a1!tt y strong inrlina-
lon tD hecuile eDiiHeGtctl VII such. Ir.lEl-
syaI sy #! these CAUSES combined to pFo''co tic
Mr. Blllou denied tho c'targe TINT tho Com
Rany tf3rh to nnluatt Its HiOek ~, TIM MI
ann!ler,uent OF tic acccptnncc By Gen. Grant
et Thu Presidency.
lie further. snlsl thu rosI'lnt' wn* offered tn
Ger. Grant III perfect gnos[ faith, and for
aoslc Dll Legitimate purposes.