The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-04-24
They File Aildavils in q Butte Court
About tho Bannister
Company.
Allegations OF Conspiracy to De-
fraud Are Denied by the
Colonel.
Conflicting Statements As to the Value Of
the Valley, Which Bannister Sold
to Them,

The Bannistor Mining company tfouDies
we're related to Judge Mediation Saturday
ut Butte by a number of attorneys. wit
nesses and afidavits. on IN order di, ected
TO Col. Z. D.. Bannister. to show cause why
an injunction should not be issued restrain
ing him from selling the company property
under q foreclosure of mortgage. says the
Standard. A number of additional aftida
Wits was introduced on behalf Of the Bos-
ton stockholders to prove that n conspir-
ncy existed between T.. D. Bannister. w. q.
Child, E. W.. Beattie. j. w. Anderson md
the Bismarck bank to hopelossly involve
the COMPANY, forsclose the mortgage and
freeze the Boston people ont. One afiida-
Wit BY II. NJ. Cobbnn was TO the effect that
he secured a bond on the Valley for A. L.
briggs from w. L. Farlin for $4,000. Tho
Valley is the property sold by Col. Ban
Mister to the Bannister company for
$4,000. taking first mortgage bonds In
payment, and in which transaction the al
legged conspiracy and fraud existed. Mr..
Cobban also set forth in bis affidavit that
the Valley had been offered to Bannister
for $50, 600, which he refused. because the
property was not worth the amount. Two
thirds of the surface ground was after.
wards sold TO him for 81, 800.
J. G. Hersey, one of the Boston stock
holders, made affidavit that Bannister told
him he paid $4,000 for the Valley and
whom he offered to sell the property to the
company for $4,000. W. @. Child WAS
present and said tho mortgage bonds were
q good investment and he would take half
of them himself. On this representation
Hersey was induced to vote for the pur-
chse of tho Valley by q proxy given to An
derson. After the purchase. Child and
Bannister gave Hersey to understand that
they owned a controlling interest in the
stock and would run the affairs of the COM
j. W. Northup. another Boston man,
made affidavit that Bannister did not pay
moro than $50. COO for the Valley, and that
when hs said the COMPANY. expended $3S' :
600 Of its earnings to develop the Teonm-
sch he made a Misrepresentation. Northup
stakeholder in tho alleged conspiracy.
John Y. Wiggin, a gentleman who was
mixed up in She other mining bubble
known us the Shonbar. by which a large
number of Boston sheep were sheared.
made affidavit that. a. one time. he had
pany. but was discharged because he was
accused of furnishing the Boston people
with too much information.
The atidavits on both sides were numo.-
GUS and long, rs we'll az interesting. Some
of the allegations were not unlike those
Boston investors. After all the documents
had been read Col. Bannister was put on
the witness stand in defense. He denied
that he ever entered into a conspiracy with
Child, Beattie, Anderson. or any one else.
for the purpose of d~efraudinR the Boston
M --1---l Ak~-
to give q detailed history of the Bannister
%company's affairs, especially relating to tbs
Valley denl. He said he wns alone the
owner of the Valley, n when he went to
Boston to see the stockholders about the
affairs of the company. he had no idea OF
sion. however, he had told them
TINT the Valley was lying south Of the
Tecumseh and adjoining II, and that the
vein of the latter dipped into the Valley.
He also told them that he was not
sue whether the apex of the vein was in
for its purchase came from the stockhold-
ers. and he aRreed with them that it would
be a good thing for the company. or some
OF its stockholders, 10 own It. The BoR-
tonians had not yet recovered from the
Shonbar experiences and did not want to
purchase the Valley, but finally agreed tha!
the whole company should purchase ii and
pay for it in first mortgage bonds. The
colonel said. emphatioally, that he never
told anyone what he paid for the Valley
and on the contrary. informed the stock.
holders that he did not come to them like
the Shonbar people to sell them property
ut alleged cost, but that he intended tc
make q good round profit, and did go when
he sold the property at $4,000. He made
no misrepresentation, and what he told
the Boston men at that time he would stick
10 now. The ground 10 worth $11O. 0Ot
TO the company and a great deaI
more, md what he said concern
ing the vein has been proven to be correct
He says that he has books and vouchers &c
show how every dollar Of the company'i
money was expended. For the Valley sale
he took first mortgage bonds. The mort
RaRe became due and no payment was
made on it. 1t was due six months before
action was brought for foreclosure and, a,
any time. he WAS willing to accept payment
of 1t, but none was rendered. In Mr.. Ban
nister's opinion the Valley is the only prop.
erty of the Bannister company worth any
thing at all.
The hearing of the case was postponed I'M.
til some time this week to give the parties
an opportunity to file additional afiuavits,
after which the arguments will be made.