Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1888-07-07


Some time ago charges OF damag-
ing character were made against the
management OF the Eureka Consoli-
dated Mining Company by an alleged
stockholder whose name does not ap-
pear on the stock list Of the company,
and whose reputation in mining cir
cles is established and well known.
A communication sent TO the San
Francisco Stock and Exchange Board
by this individual at that time caused
is Executive Committee to send the
following letter to the President and
Directors of the company:
sEcRErARY's OFFICE, SAN FnAScIsco,)
STOCK AND EXCHANGE BOARD,
SAN FRANCISCO, June Is, 1888.
William Fries, President Of the Eu-
reka Con. Mining Company - Dear
Sir: lnclosed please find copy Of
communication addressed to the San
Francisco Stock and Exchange Board
by John w. Pearson, which explains
itself. The matter has been referred
BY the Board 10 its Executive Com
mittee, and il you desire to make any
statement concerning the communica-
ton the committee will meet on Thurs
day, the 2lst inst, at is O'Clock r.
NJ, at the office OF the Secretary, at
which time they will be prepared 10
hear from you, either orally or in writ
ing Yours respectfully.
JOSEPH MARKS,
Chairman pro tenn.
In answer TO the above letter the
following communication, urgently
lsking for thorough investigation,
was sent 10 the San Francisco Stock
md Exchange Board by the President
II the Eureka Consolidated Mining
Company, together with a statement,
summary Of which showed for eight |
months ending May 81, 1888, an out
iut oi $3.50, ,35l so in bullion from the
nine. Eight dividends, amounting to
800, 900, had been paid, and available
lsscts were still on hand amounting TO
sSl, 800 70.
SAN Francisco, June 20, 1888.
Joseph Marks, Esq, Chairman Ex-
ecutiye Committee San Francisco
Stock and Exchange Board-Dear Sir
have the honor TO acknowledge the
recei,' a. your communication OF the
y inst, inclosing copy OF letter to
your Board from one John w. Pear
son, containing charges against the
officers Of the Eureka Con. Mining
Company. In reply thereto | will
state that this company most honora
bly, accords to your honorable Board
the right OF investigating its affairs,
and We herewith offer to submit to
any committee or expert whom you
may appoint all the books and papers
Of this company relating to the mat
ters Of said charges; we furthermore
request that the most through exam
nation be made. We have had pre-
pared and herewith submit TO you
statement showing the monthly ex-
penses OF the office in this city. You
can readily determine, therefore,
whether We are justly subject TO the
charges Of extravaganza. We also
submit the statement from our ledger,
showing our receipts and disburse-
ments since October 10, 1887. You
will see, therefore, that dividends have
not been paid from borrowed funds, as
claimed. Our books and papers are
open TO you for any further informa-
ti0n which your committee or your
Board may desire upon the subject.
In conclusion, can but characterize
the charges as absolutely groundless,
and the officers OF this company are
confident that a fair examination by q
dlsinterested party will exonerate them
from all charges OF mismanagement.
Very respectfully.
tSigned): WM. FRIES,
President Eureka Con. Mining Go.
Upon the receipt of the above letter
a committee OF the San Francisco
Board made the investigation re-
quested, which resulted in the follow
ing report, which was rendered and
unanimously accepted at the weekly
executive session of the Board this
morning, and copies OF the same with
the accompanying letter, were for
warded to the President OF the Eu-
rcka Con. Mining Company;
SAN Francisco Stock AND
EXCHANGE BOARD, 32l Pine street,
SAN Francisco, June %, 1888.
Mr.. VIM. Fries, President OF the
Eureka Con. Mining Company
Dear Sir; Enclosed please find copy
OF report OF Executive Committee
made in answer to certain charges
preferred against the Eureka Con.
Mining Company. Said report was
adopted unanimously at the Execu-
tive session held this day. Yours truly
JEREMIAH LYNcH, President.
SAN FRANCISCO. Jnne %. 1888.