The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1889-05-23

tnng ls arranged to the satisfaction {
the new Incorporation.
Following is the account of the meet
ing given by the Helena Journal:
| At the meeting of the West Grant
stockholders held Saturday, almos
every share of stock was represented an
the voting showed that unanimity cor
corning the disposition of the prepert
which had been expected. Mr.. Coquar
and his lawyer, Judge Clover, held il
person and by proxy only 1900 share
and these when voted opposite to tn
remaining stock were hardly notieeabl
as votes, but Judge Clover in objectin,
to some of the proceedings brough
forth arguments which certainly mad,
themselves felt.
OF the 10000 shares more or less
| which were present at the meeting
some 100000 were voted by L. NJ. Rum
sey, president of the Granite Mountain
Mining company and also member o
the new syndicate which proposes to pu
up the money to pay the companyi
debts and work the property. On The
vote on resolution to sell the property
Mr.. Rumsey and all others present save
Mr.: Coquard, voted aye, which made the
adoption of the resolution practically
unanimous. The next vote was taken
On resolution to sell the property tc
Mr.. Taussig of St. Louis, representing
the st. Louis syndicate. When Mr.
Rumsey was called upon to vote bis
stock Judge Clover protested. He said
he wanted to enter an objection and
have it recorded on the minutes of the
meeting. my objection" continued
the judge, ''is this: Mr.. Rumsey has
voted as an owner to sell the property,
and now he seeks to vote as a purchaser
to buy it. He is both vendor and
vendee, which I hold is legally an i'm
possibility when it is a question of the
same property. The case is analogous
to that of man who, owning two-thirds
of race horse as against another owners
one third, would say, 4 will sell the
horse at my own figure, and wishing al
SO to buy him asaia, will pay my own
price, On these grounds I make the
objection" The objection was noted in
the minutes and the voting went on,
Judge Clover interposing similar OBJ
lection as each one of the members of
the new syndicate were called upon to
vote. This move on Coquard's part was
probably planned beforehand, but it
looked to spectator from the way it
was received by the other stockholders
there present, as though the coup was a
totally unexpected one. However, when
the vote was concluded the Hon. T. H.
Kleinschmidt announced that only
I 600 shares had been voted in the
negative and the resolution was declar-
ed adopted. This finished the business,
and the meeting adjourned. Steps for
the transfer of the properties as set forth
in the resolution, will be Immediately
taken.
Whether Mr.. Coquard will contest the
legality Of the proceedings in the courts
does not seem to be known. The natur-
al inference from the proceedings of
yesterday is that he will unless an
amicable settlement is affected, which
is also quite probable. Mr.. Coquard
after the meeting seemed extremely
friendly with all the other stockholders,
laughing and talking with them i'm a
Jolly unconcerned way, but he has not
much of a reputation for amicable set
dement's when there is chance to
eight, and lawyers who have considered
the matter say that here is very pretty
chance.
Mr.. Coquard's proposition which he
to the meeting yesterday and
which was tabled without action is SUBJ
;tantially that outlined in these columns
yesterday. He contends that it is use
ess to turn half interest in the proper
y over to any syndicate for any sum Of
money when the sum proposed can be
aised by an assessment of not more
han thirty cents per share.