Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1883-03-20
THE END.
A Happy Termination of the Albion
Troubles.

VI AhuAVhA
Troubles.
TIL management of the Albion Mining
Company has undergone, as to four out of
five, a complete change. The Board Of
Trustees is now composed as follows: s.
Heydenfeldt, Charles H. Fish, Henry T.
Scott, F. A. Wagner, Julius Jacobs, A. J.
Ralston and Samuel Hart. Charles W.
Fish was elected President, and A. W.
Ravens Secretary. This new Board will
pay nominal salaries only and will practice
the most rigid economy. As an earnest OF
what it proposes to do it has fixed the
salary Of the President of the Board at $50
per month, in lieu Of the $500 per month
formerly paid to President Robinson. In
stead, also Of $500 per month formerly
paid E. N. Robinson as Superintendent, L.
j.. Read will receive but 5000. In the very
outset a saving Of $3.50 monthly. There
will be Topping off at every corner, and the
promised reduction in expenses, while, at
the same time, the mine will be vigorously
worked for all that is in it, cannot be
closely estimated, but that the saving will
be very large there is no doubt. The
present management enjoy the entire con-
fidence of the public and it is expected
that they will place the Albion mine ere
long in the place it ought to occupy in the
market. The mine is a good n as every
body believes. Mr.. Read, the new super
intendent, who is proverbially a bear, says
that the Albion is, to-day, the best pros
pect in the State. Great satisfaction is
felt in his appointment to the S%uperinten-
dency, and we believe he will develop the
mine economically and systematically.
ARTICLES OF
The following articles Of agreement were
received here yesterday, signed by the
Board of Trustees of the Albion, and were
being circulated for signatures by the
local creditors of Eureka. They will prob
ably be signed by everybody, such is the
confidence manifested in the new manage
ment to do what is just and right.
The chief provisions of the agreement
are to this effect:
First-The creditors are to receive i'm
mediate judgment on their claims, in our
District Court, for the amounts due them,
the cases having been removed to the
Circuit Court to be forthwith remanded.
Second-The creditors receiving such
judgment to stay execution on the same
for so days, or until May 10, 1888.
Third-All Of the bullion and ore now
held by the Sheriff shall be released to the
company, who will, as soon as possible,
convert the same into money, and will use
the proceeds for the payment, pro rata, Of
the miners and laborers' liens now or the
property, but not exceeding 5000 to any
one claimant.
Fourth-The company shall be permit
ted to resume operations, and shall have
the privilege of using all of the coal, tim
Der, tools and mining supplies now on the
premises, for the proper conducting of its
workings, but shall in no manner sell or
dispose of the lame.
Fifth-The miners and laborers ere to
be paid from the first assessments that
will be collected, after the payment of the
expenses OF running the mine; and
that any l~ien-holder may assign his entire
claim or any part of it. and the person to
whom it is assigned will occupy the same
attitude as the original claimant.
Tho bullion and ore on hand will 60 far
towards paying off the miners, laborers
and mechanics who hold liens, and by the
time the present assessment is paid in iii
the prospect in the mine is not altogether
deceptive) the company will be in condi-
ton to meet every one Of its liabilities.
FURTHER.
On the whole, upon reviewing the above
scheme, it seems to be about the best that
can be got at. By its provisions the at
taching creditors Of Eureka lose none OF
their rights. They retain their original
places and will come in ahead of the San
Francisco creditors in the order Of their
attachments.
1t seemed also about the best that the
lien-holders could expect, though a later
bit Of information just put into our hands
presents something for them still better.
We refer to the following dispatch:
SAN Francisco, March 10, 1888.
R. JAMES, President Miners Union: If
all the Eureka creditors sign the agree
above I can arrange for necessary money
to pay off the claims of the miners in full
as approved by the committee.
GEORGE E. AMEs.
By the approval OF the committee is
meant the agreement that the miners as.
sign their liens to Prescott, Scott & 90.
and Selby & 90. for cash paid.
There were scrip sharps around yester-
day with ears erect to catch every sound
Of rustling paper. They are so full Of con-
fdence that they start out with the offer Of
Is cents on the dollar for all miners claims.
They would doubtless be glad within two
weeks to pay 90 cents on the dollar If the
attaching creditors OF Eureka sign the
above agreement.
It is earnestly hoped that they may, as
they will lose none u their rights or their
money thereby, while the miners, laborers
and mechanics will get their full pay
that which they are entitled to and have
been deprived of already for a disgraoeful
period.