The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-12-13

velopment. nothing ] can say will carry
conviction to your mind, and \ will. there
foro. dismiss this subject. with the remark,
that If you hesitate now TO carry out TINS
policy. the future of that mine will prove,
IL properly developed, that you hesitateu
on the threshold OF success.
Now. as to our financial position. ~ is
n OF great simplicity. as ali our iiabilitles
are confined to the overdraft at our bank
eis at Helena. the maximum amount oil
which may be taken at $4,000. Prior to
the attachment OF the Company's property
Ito which / refer when speaking OF the -.
Louis lawsuit) our bankers had freely
granted us any accommodation we required,
and to meet the necessities arising from the
fire of last spring suffered US to oyerdraw
the account to this amount without demur,
but upon the c~ompany's property being at
tached they very naturally desired some
security for this advance, and as we could
not furnish II without giving them n lien
on our personal property in Marysville.
which would have had the effect OF sus-
pending operations there, they intimated to
us that n remittance would be eQulred to
pay off this advance. l want TO make it
plain to YOU. Upon the conclusion OF this
trial ;G6. 000 will be required for the payment
of legal and expert advisers and witnesses
retained on our side, and, unless this sum
is forthcoming, we shall be placed in u very
difficult position. SO that it is partly for the
~ VI t'H'hH hhNs
to sanction and support the policy of re-
construction. If you respond. as l
hope you will, your additional liability
will be two shillings six pence u share. and
what do you get in the way of security for
that? Let mo indicate it. You first have
the present value of the mine, with upwards
of l0O, QUO tons of ore in sight. Secondly,
You have the prospect OF a large return
from the ~unexplored portions OF the mine.
both l~a,erally and in depth. Thii dly, you
have the mills, machinery and other plant,
erected at the cost of nearly 100000.
Fourthly, you have what | may term u
liquid asset in the unworked tailings, which
MIR. Robinson estimates at from 25O,0 600 to
800, 600 tons. and from WHICH he estimates
you can obtain Il minimum net yield or
$4,000; and. lastly, You have the Bluebird
and Hickey mines, which are of undoubted
value, and which only remain un orked on
account of the necessity for further work
ing capital. That is what you will get for
your money, and it is Just what You will
lose If you decline 60 provide it. We as
su Q you. gentlemen. that the company has
not any right to feel aggrieved at this re-
quest from the bankers, for they have
shown US tue very greatest consideration
in our present difficulties, and l take great
pleasure in having this opportunity of ex-
pressing publicly my sense OF personal ooll-
CATION to those gentlemen for the ASSIST
apce and accommodation they have given
me at all times DUNG my management OF
your propet ty.
Now, with regard to this st. Louis law
suit. l have tefe, red to this subject on past
occasions Notwithstanding what some OF
the shareholders may think to the contrary,
and 1 will do so again to refresh your mem
cries. | am su Q you, as business men, Will
look at it as | do, and understand that in
making Iublic statements | am in AL awk-
ward position, and that my hands to u GER
tain extent are tightly tied. l do not wish
to say anything which would be reported
and sent to Montana, which might convey
the impression to the court that was dis
respectful, or that l had any desire to pre-
judge the case. On the other hand, | have
no guarantee that there are not gentlemen
sitting in this room representing the st.
Louis company. l think it probable there
are, and it wou,d not be to your interest
that | should give away the strength of our
case in order that they may communicate 1T
to their clients in Montana. This Is u suit
brought against US by the st. Louis Mining
and Milling com any, owning IL lode claim
adjoining our Marble Heart and Nine Hour
claims. he st. Louis Mining and Mill
ing ~company-its very title is IL misaomer-
have not SO far demonstrated that they
have got any mine, and they have not got
any mills or reduction plant which would
even if they had it. That
claim was originally owned by
an individual who, for the purpose of this
suit, formed it into a company, with the
title I have given. and it is upon a small
shaft sunk Immediately upon the boundary
of our Marble Heart claim, and which is in
our ground. and made them trespassers at
a point twenty feet below the surface. that
they base their claim in this action. ! men
tion this to show YOU what it is we have to
contend with. Whilst these plaintiffs do
not allege or even suggest that we have en-
croached Upon tEeir property i'll any man
ner Whatever, they state we have extracted
ore from within our claim which belongs to
them by virtue of the rights conferred upon
them under their location, and to he on the
safe side. presumably. the. lay their dam
ages at s., 500, 900. / want YOU to bear that
point in mlnd-that we are not stated to be
trespassers. AS a matter of fact. we have
not extracted any ore. or Iun any level in
ore within $50 feet of their side of the line
projected vertically. On our part. we deny
that we have ever extracted any ore to
which they are or ever were entitled, and
whilst l should like to give further intor-
nation in this case, l cannot do it in pub
lie, and I must ask you not to suggest that
l should.
We will sell all our Haviland china at cost for
tba holidays Il StaipmptZ ,IeypIry Co.