The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-01-10
PLACER MINING STOCK,
]. ". Bailey Sues W. B Raleigh
for an Accounting on q
Contract
Tho Property 10 OF Nevada Greek
and Was Stocked at
e2,Boo,ooO
Mr.. Bailey says He Accsptsd Mr.
nalsish's Agreement 70 Help Place
shares on Sale.

~eOsN-Op
OF the NsyodA Cock Placer company
which has mining ground In Deer Lodge
cosnty. Bailey says he accepted the fol-
lowing proposition made in writing by Mr..
Raleigh: Having concluded TO stock the
Nevada Greek placer mine in the sum Of
$2.500,000 OF In 100000 shares Of the par
value Of e. 10 per share. 2.O0O,0 900 shares Of
said stock ! propose to ut aside q treasury
stock 40 . working capital. this amount to
belong to all shareholders III shs mine In
proportion to their holdings in said stock,
and ! hereby make you ths following
proposition, il you will take hold Of thu
matter and assist mo 10 Helena and other
cities in making sales Of said stock, de-
voting your time TO the sams I will agree to
give you one-half Of the remaining sou. 600
shares. but l must frst be paid out Of the
hrst sale Of said stock the following sums:
To myself for the mine. $50. 600; TO Charles
A. CLARK. ZIG, 600; to pay my guaranty TO @.
A. Broadwatsr 5000; to pay my guaranty to
=. w. knight. IS, 600; to pay my guaranty
to 7. H. Klsinschmidt. 5000; to pay my
guaranty to H. M. Parchen. 5000; DR.. G..
G. Swallow. $1,000; George W. Cleveland.
$3.50; expense incurrad by ms, 1880;
total, SOL 500. Now. this SOL, zoo IL first to
be paid me put of the sale Of the 800, 600
shares. then the proceeds Of the remainder
Of said 5000 shares shall be div ided
equally between rs % sold. You having
subscribed for 5000 shares Of said stock
and having paid for the same, I will carry
the same for you until such time a. We may
make q settlement of our matters, when
you are to be paid for the same out of.your
part. Said stock Is TO be put ON tho mar
ket at the rate OF 80 cents per share and the
price of said shares may be advanced at
any time ~ you and I may agree, and IL il
my desire and wish that in Che sale Of tn
stock now or Of any future time. should W
that all sales shall DO made without prefer
ence, that an equal amoun OF my unsolA
stock shall be sold at such time as you may
sell any of your holdings. You also owe
me the sum of $3.50 for money
advanced you at sundry times. which you
advance you the further sum of $500 fol
travelling expenses which shall be reim-
butssd me BY the Nevada Creek Placer pom
pRny. but should they not allow said amount
then for any other money that may DO id
vanced for travelling expenses shall bs
equally borne between you and myself; and
u FOUND necessary 70 pay any parties 9
commission for say ~ or not exceeding
per cent on the net sale Of stock you can dc
so. In case Of your death or inability to
continue the sale Of said stock then you can
designate some competent person to carry
ont your part Of tho agreement in the sale
OF said stock, and the same should be sold
within twelve months from this date. and
in case yon fail to designate such person
then your heirs or legal representatives shall
be paid In proportion for the work done By
you"
The complaint says the corporation wal
formed with 1.O00.O 600 shares at $3.50 pol
we're placed to the credit of the treasury
stock and the remaining 800. 600 shares were
held and belong to the defendant. The
plaintiff sold Of the treasury stock 7,09s
shares tor $23, GAG. 80. on which his commits
sion was 81, 318.7 Is, and the balance was paid
shares were sold at 80 cents per share, and
the proceeds paid to the defendant, and the
defendant sold 240. 600 shares which should
be accounted for at 80 cents per share.
The defendant was to be paid S9.45O less
tho sum Of $4,000. being the asgreRats
Knight, Klsinschmidt and Parchen.
II 10 alleged that these sums were sub
scribsd and were never paid; nor was the
stock ever issued to them and the guaranty
Of the plaintiff was never paid or called for.
and that there never was any liability on
The part OF the defendant to pay the same.
The actual amount to be paid the defen-
dant uuder the contract ia said to be $74,-
$50 instead of 1874. 100. The plaintiff says
that the proceeds of the stock sold by him
and the defendant At so cents per share,
less a commission OF not exceeding Ave
cents per SHIRE. should have produced the
sum of $137, 956. 25, which after paying the
amount due the defendants would leave
$63, 806. 25 besides nearly SOC, 900 shares of
stock to be divided between them.
Bailey asks the cour to order an account
ing and that the stock sold be accounted
for at so cents per share, and that after do
Quoting the sum due defendant that the
balance Of the money and the stock remain
ing unsold be divided between them accord
ing to the terms Of the contract. Toole ~
Wallace and Word. Smith Il Word are his
attorneys.