Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1885-12-21
rnE MINNIE nooRie.


s-.~~--s
Its Di1esltiss enthusiastically Adjusted.
Below il given the report Of meet.
in OF the creditors of the Minnie
Moore mine from the Bellevue Herald
of the 18th inst, and letter to tho
TINES from Mr.. Harris, aud other
members Of the committee OF crsdi-
tors. The TIMEs oongratulatss every.
body connected with this matter upon
this adjustments. When mine upon
which 20 much money has been az.
pended ~ hes been in the purchase
and development 1.-THE Minnie Moore,
drops from the list Of producers aud
dividend payers, tho whole country
feels it. The difficulties which have
environed this mine under Nj. Palmer's
management, has directly or indirect.
ly affected US al. Its success in the
future will "lighten tho GLOOM" dis
pei the approximations Of outside CAPT.
tslists and do much to attract tho
attention of investors to Wood River.
Their conclusions will be similar to
those Of tho TINES, Wig: That bad
management and not lack of ore is
responsible for the disasters that have
overtaken the Minnie Moore:
To THE EDITOR OF THE TINES:
The enclosed statement, from the col.
umns of the Bellevue Herald, brings
. complete and correct statement Of
the proceedings taken by Mr.. Car.
michael, relative to- arranging fnan.
cial matters of the Minnie Moore
mine. We, the committee appointed
by the creditors, respectfully request
you to give it spa,e in your columns.
We also desire, on behalf of tho Gre.
ditors we represent, to say that they
are gratified ut Mr.. Carmichael's lib.
eral and prompt action in the pre-.
misses. We also express the sonti.
ment that all creditors OF the mine
should feel very hopeful Of the future,
as Mr.. Carmichael has ample means
to develop the mine and, having
placed an able and experienced sup.
erintendent and also foreman in charge
there is no doubt that development
will be systematically made, and the
mine: ere long, be placed on pay.
ing basis. Let all feel that better
times are dawning.
J. II. HARRIS,
JAMES BENNETT,
A. WELCKER,s
u. GElFFlrHs,
Committee.
On Tuesday OF last week circu-
lar was issued to the creditors of the
Minnie Moore mine, by Thomas Car.
michael, agent OF the first mortgage,
inviting them to be represented by
committee at a meeting to be held on
the following Thursday. The follow.
ing COMMITTEES had agreed to act in
behalf of Mr.. Carmichael: Col. Ha-
vens, J. G. Conkling, John A. Hunter
and Capt. J. A. Lusk. On the part
Of the creditors the following commit.
tee was empowered to act: J. H.
Harris, A. J. MCGOWAN, Bert. Welc-
ker, James Bennett and D. Gritfiths.
The meeting was held at the appointed
time, and the announcement was
made that Mr.. Carmichael, in consid.
GRAFTON of the forbearance and pa.
tience of the employees toward the
late management, and their present
necessities, he proposed to purchase
from the employees and four special
creditors their claims against the late
company at the face value for the
claims. The claims referred to in Mr..
Carmichael's offer amount to about
$4,000, which lie proposed to pur.
chase on the following terms: 20 per
cent. cash down, and to assign to his
committee in trust for the parties re.
ferred to, 20 per cent. of the gross
proceeds Of the mine, until the re-
naming 80 per cent. has been paid in
full.
These propositions were unani.
mously accepted by the employees
present at the me, ting, and an agree.
ment IN accordance with the same is
now being circulated for the sigma
lures of the parties concerned. There
are about so people inclnded in Mr..
Carmichael's offer, and IS signatures
have already been attached to the
agreement, aud an advertisement is
inserted in the Herald for the pur-
pose Of attracting the attention al
those who are out of town, 30 that
they may have an opportunity of sign.
ing the agreement and receiving their
share of the trust furd.
In place Of the mine lying idle and
the works going to destruction, Mr..
Carmichael purposes to start up work
in few days, and We are informed is
prepared to expend some 320, 900 in
developing the mine.
. 1t is known that = large body Of
ore remains in the mine, and that
prospecting work has never been
done.