Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1884-03-01
THE MINNIE MOORE,
SHE BRINGS A COOL HALF MILLION
DOLLARS.

SnL DRlNOC NVVL HALT MlLLIVN
DOLLARS.
The Agreements for Deeds to 1t on Rec.
ord Here. and the First Payment
Of $4,000 to Have Been Completed
To. Day-Details Of the Transaction
Etc.
Yesterday afternoon, the prelim-
mary agreements of the sale and
transfer of the Minnie Moore mine,
and hosting and concentrating works
were filed for record in this city.
The first agreement is between
Henry E. Miller, Frederick Myers,
and Colonel Shaughnessy, parties of
the first part, and Cecil Brooke
Palmer, Of New York City, party of
the second part. The parties Of the
first part agree to sell to the party of
the second part, in consideration of
the sum of 100000, all the Minnie
Moore property, including the office
and lot on Main street, Bellevue.
Payments are to be made as follows:
$125,OOO on or before February 80;
$4,000 on or before April 20; and
the remaining 100000 on or be.
fore June 20, 1884. Owing to the
storm the time for making the first
payment was extended until to-day,
but 100000 was paid as forfeit
If the balance of the first payment
was not made in Salt Lake by 3
o'clock to-day, the sale will be "of,
as Colonel Shaughnessy will not sell
for the price. 1t is very probable that
it was made, however, as the buyers
are very anxious to close, and as Mr.
Palmer, of the London firm of Dent
Palmer & Co., who are the real buyers
is one of the Directors of the Bank o.
England, his drafts would be honored
anywhere. The transfer of the cash
was probably made by telegraph.
Prior to this transfer the Minnie
| Moore mine was owned as follows
Miller & Lusk, one half; Fred. Myers
one fourth; and Colonel Shaughnessy
ne-fourth. The parties will get
the first-namea $233,334; the secont
6l1G,666, and the third $4,000
Colonel Shaughnessy thus gett'r;
$33 900 more for his fourth than Mr.
Myers.
Until the payments shall have beer
made, deed to the property will re-
main in escrow in Wells, Fargo {
Co.'S, and the property will be il
charge of DR.. James p. Welch, of 81
Broadway, New York, who will b.
General Manager and act for bot
parties. Between the first and secon'
payments DIR. WEIGH is restraine,
from extracting over 80 tons of or
per day; and between the second ant
third payments he may not extrac
more than 50 tons per day. This or
must be shipped to the Omaha Smelt
ing Works, under the Minnie Moor
guarantee, by virtue of which tn
works pay New York quotations fo
lead and silver on the day of ship
ment, less $3S.25 for freighting an
smelling, besides a deduction of l
per cent. of the lead and per cen
! of the silver contained in the ore.
The sale was completed in Ne
York the 18th of February, and o
the 21st of the month G. B. Paine
agreed to transfer all his rights in tt
property to Dent, Palmer e. Co. |
| consideration of said transfer Gee
Brooke Palmer, of New York Cit
, will receive one half of all prof
. realized from the mine after the pu
chase price shall have been paid.
Messrs. Miller & Lusk, Myers, c.
= Palmer and Grevilc IL. Palmer I'll
latter a son of the London partner
: the firm Of Dent, Palmer & Coz can
/ to HALEY yesterday to have the pape
recorded, and will remain until Il
}, first payment shall have been mac
e in Salt Lake, and the vouchers ar
other papers certifying thereto sh;
I have been recorded here.
= The transfer of this property is
most important one for Wood Rive
as the purchasers rank among t
v very foremost Gnanciers Of the worl
# But, aside from this, they are M
;, who want to know, as soon as pc
y sible, just what a property in viii
,, they are interested is worth. TIL
will therefore crowd developments
/, ! ra pidlv as pOSSlhle