The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-07-30
HOW THEY GOT HIS CASH

A meeting of the corporation"
was held October Is, 1880, at which
William 8. Clark, Bothwell's partner,
and George w. Boutwell,, the lsttor's
brother, were elected trustees. Then
Clark was chosen president. John r.
Boutwell, secretary and George W.
Boutwell, general manager. George
w. Both we'll remained at the mine
and sent home the most celebrating
accounts, it is said, OF the condition
and prospect of affairs. The bullion
Was shipped to Clark & Boutwell,. A
dividend OF 10 cents q share,
aggreR atipg $50. 0O0, Was declared in
November; 1880, and like amount
in the seven succeeding months. The
last was in June, 1881. The total
amount said to have been thus dis.
tributed IS profits was 100000. In
April, 1881, just three months be-
fore the flow Of dividends ceased,
Mr.. Biddle, induced by the CLOWN g
accounts; of 6tan-grove'sIp aud
John r. BothWell's assurance that
George reported splendid de-
velopment'," bought 5000 shares
of the mine from Clark 4
Boutwell, for $1,000. Shortly after
that Mr.. BidtiIe alleges he received q
communication from John r. Both
we'll saying that George w. Boutwell,,
who had managed the 6tan-grove
property 80 we'll, was concerned in
the sale of the Eagle" a mine
adjoining the Stan grove. Represen-
tation as to the value Of the Eagle"
was made so successfully as to induce
Biddle to part with 50 600 more for
120 shares of thrt comedian.
DISCOVERING THE MISREPRESENTATION
Mr.. Biddle received three 10 per cent.
monrhly dividenes, amounting Ia all
to $500 when the bottom fell out of
the enterprise. The con6ding stock
holder was amazed tosee the bonanza
seized and sold dor debt. He did not
know that the corporation owed
dollar he mourniully said, until he
saw an account of the catBitropbe In
a New York paper, The stosk fell
to next to nothing. Biddle was
uesrIey his whole sic, 900 out in three
month";. Ae deuermlnei to get at
the inner history OF the affair. He
learned from Wells & Fargo, be sWore
in an Sfidsxit supporting "a writ OF
espias issued yesterday for the arrest
of CLARK and the two B thwelI, that
while George W. Boutwell, was sending
rsinboW-hued reports as to the worth
OF the mihe the Rmont of bullion
taken out and shipped to Clark &
Boutwell, did out begin to cover the
working expenses. John r. Both-
well, il was charged, exhibited at
meetings kilograms from his brother
giving assurance that the bullion was
coming, anu on the strength OF these
communications dividends he'd beer
declared. George w. Boutwell,, it is
charged, Whensquestioned by Mason
w. Tyler, Que of the trustees OF the
Eagle mine, denied that he had been
in the profits arisin from
the sail of that property.
Sohn r, Bothwell, it is alleged. is |
3 fugitive. Mr.. Biddle. however, AYERS |
that he has obtained letters between
him and his brother showing their
,ondected With the transactions He
that the Boutwell, and Clark
into conspiracy to defrsud, !
and that the pretended dividends had
oeen paid out of the capital stock as
part OF the scheme. Clark WAS ar.
rested yesterday afternoon Bail was
liked by Judge Finletter. at 100, COO. |
The defendantsfound bondsmen. -
Times.