Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-03-02
srrzrn an
The Property Of thesMajor Budd Mining
Company Levied On by the Sheriff.

The Property Of thesMajor Budd Minind
Company Levied On by the Sheriff.
Yesterday afternoon Sheriff Lloyd levied
on the following property Of the Major
Budd Gold and Silver Mining Company by
virtue OF an execution issued from the Dis
trict Court Of the First District at Helena,
upon q Judgment obtained February 26 by
Samuel Schwab and Il. T. Zimmerman
The Paradise, Rocky Mountain, Major
Budd, Major Budd Extension West, Major
Budd Extension East quartz lode mining
claims. The judgment is for $30,36S.O5,
with interest and costs, being money ad'
vanced by schwab and Zimmerman since
the organization Of the company last
spring.
Major Budd himself was met in the
course Of the day by a reporter and asked
what had become Of the company. He re-
piled that this settled it for the whole oi
them. The entire interest Of the company,
including original owners and stock
holders, will be sold cut by the Sheriff with.
in sixty days. The company had the right
OF redemption within. six months after.
| wards; but for his part he would not
bother himself to raise q cent.
1.-THE property is as good as it ever was.
It is worth 100000 cash to-day, but 1t is
worth nothing 80 long as the Welsh interest
is in it. II Mr.. Welsh had adhered to his
agreement made before the company was
formed the company would be in good
working order. But he wants an exorbi-
tant price for his share and he has got it 30
I'll I'll ~--l - n~~nnnt hfrn In
carry out his promises"
Have the st. Louis and other buyers oil
stock no recourse against the projectors
who sold the stock on the strength of own
ership Of q property they did not W en-
tirely?"
II suppose they bought with the under
standing that Welsh's interest was yet to
be secured. No, they have no rscourse and
must suffer like the rest OF rs. 1 don't
blame either Schwab or Zimmerman. We
tried every possible scheme legally to secure
the Welsh interest under the original agree
ment and failed. Schwab and Zimmerman
had to protect themselves and they took
the only a open to do SO. They will buy
the mine at sheriff's sale and hold it for six
months when it becomes theirs"
This respondent view OF the future OF
the stockholders who bought shares in the
Major Budd Company Is NOT borne OUT Dy
others who were approached on the sub
ject. 1t is understood that the brokers
here and in st. Louis who sold the stock
stand ready to redeem every share they
sold. 1t ia furthermore understood that
the latest development is a move on the
part OF the original projectors to freeze out
Mr.. Welsh. The interest is held in his
wife's name, and received it's share of q
dividend ON the sale Of ore, thereby be-
coming a party to the development OF the
mine. When the time for sale at auction
by the Sheriff arrives it will be sold with
the rest. The judgment debtors have six
months in which to redeem, during which
time the mine will be idle, and when the
six months expire q new deal will Jake
place.
It is to be regretted in the interest OF the
fine property in question that it should re-
main idle so long as seems inevitable, espe-
cially' SO soon after the strike, made a few
months ago, that opened out a fine pros
pect. The mine should now be furnishing
employment to many men, addingits quota
to the development OF the Territory. But
it will not be permanently idle, and under
the new arrangement in prospect will re-
sumo operations on a larger scale than
ever.