Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1888-06-09
THE FRIES BONANZA.
eureka Consolidated Dividend
Paid by Over Drafts ON Hank.

The Eureka Consolidated Minins
Company is again placed in decid
edly awkward position by the acts oI
its management. The unsavory rec.
ord OF the Mckenzie regime is moth.
ing in comparison with the develop
ments which are promised when the
official acts of the present juvenile
President are fully investigated. AZ
ter the company had been squeezed
for everything in sight, some years ago
by the morally-inclined Mckenzie and
his assistants in ofIice-when every
little money-making dodge, from Jug
Cling with legal difficulties to selling
and repurchasing ore dumps, had
been resorted to-the loud complaints
Of heavy Eastern shareholders warned
the wreckers that some steps must be
taken to prevent serious trouble. This
was effected by taksss the heaviest
Eastern shareholder into camp, and
the appointment OF his son to the posi-
ton OF President OF the company,
vice Mckenzie, resigned. For some
time after this settlement the course
of the company's affairs was unevent-
full. The youthful son Of the New
York druggist had nothing TO do but
exc out an existence on the IS, 900 q
year drawn from the Eureka treasury.
In October last, however, Fries seemed
suddenly awakened TO a sense of his
importance in the mining world. His
first action betokened his judicious re-
gard for Fries, Jr. His stipend OF
$4l6 GO seemed ragged edged. Even
numbers would look more respectable.
The salary of the Secretary was ac-
cordingly reduced from $3.50 per
month to $3.50, and that OF his assist
ant to $75, in the interest of economy,
while the President, Fries, had his
emolument increased TO $500 per
month. The juvenile autocrat next
east his eyes OH Pine street as field
OF greater opportunities for pecuniary
gain. His family and friends were
loaded down with stock which was
drug in the market, and the bright
idea evolved was TO boom the mine
and peddle ont the shares at inflated
prices.
The scheme worked WE'LL for months.
The price advanced and dividends
were coming along with the unfailing
regularity OF clockwork. Fries, Jr.,
was all smiles and points. The flatter-
ing appearance OF the mine and its re-
cent development were detailed for the
benefit OF his listeners with a candid
frankness which stamped lamb-like
innocence all over the guileless youth.
The veteran operators OF the street
were captured, and $l5 80 was consid-
a very
GENEROUS TIP ON STOCK
Which young Mr.. Fries gave every |
was good for $40.
The sudden decline in prices and |
the prevalence of ugly rumors about |
the inside running OF the company's
affairs has had chilling effect on
1t was rather sur
prise to discover that the dividends
have for months been paid by over
drafts on friendly bank, and that the
statement furnished OF the financial
OF the company was, to say
the least, was fined down sufficiently
to show on the outside credit balance
OF some 5000, instead of a debit of
1000 which would really have been
shown had the truth been rigidly ad-
hered to, and full and complete
statement given OF the liabilities.
Notwithstanding this uniavorable
showing, another dividend has been
declared, and assurance given that the
rate will be increased to double the
present amount Immediately. The
cut action on the part OF the bank
concerned, suggests, however, the
probability that not only will this divi-
dend be rescinded at the approaching
meeting of the Directors, but that an
assessment will be levied to clean up
the overdraft at the bank, which, on
the 22d instant, amounted to sos, S,2O9.
The Eureka management has never
vet been at loss for a scapegoat. In
the present instance, the President at
tempts to creep out OF the difficulty by
diverting public attention from HIM
self through an attack on the reputa-
ton OF the Secretary, who has been
connected with the company for the
past four wears. The fact that his ac-
count was overdrawn TO the extent
OF $I12 was made the foundation OF
very grave charges. The Secretary,
on his part, expresses himself fully
prepared to stand an investigation into
the trumped up charges, but believes
that the more poitant ones in
which the President himself is in
yolyed, should be taken up in the first
place. s.. +. Post.
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