Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1894-07-07
The Question Answered.

Why don't you produce tin This
question has been heard for years all
over the country. The press of the
Black Hills have heralded the existence
Of tin in paying quantity in this region,
and mprehensively described the
large plant erected for its extensive re-
duction, which naturally led to the
impression that tin production would
be the result. The pleasing dream did
not materialize, hence the question,
above quoted, has bsen heard on every
hand, but not until now has it been
satisfactorily answered. The following
New York telegram to the Omaha Bee
contains complete answer to the yexed
question, which to the most casual OBJ
server may be plainly read between the
lines:
New York, June 29.-Judge Lacombe
las appointed Albert X. Latoux tem po-
rary receiver of the Harney Peak Tin
Mining, Milling & Manufacturing COM
pany.
The complaint carrying the applica-
! ton for receiver charges fraud against
the trustees of the defendant company,
Lewis May, James Flanagan, William
VI. Dean, William Romsen, Geo. Ehret,
Charles ID. Deshler. Herman knuble,
Louis ID. Weber, w. L. Flanagan, the
estate of Frederick w. Foote, the estate
OF Henry Clausen, jr., the estate of
Daniel ;. Appleton, Samuel Untermeyer
aud the Farmers Loan and Trust COM
pauy. Complainants in the suit are
Charles Fletcher. Henry l.. Maud, Chas.
Z. Denny, Edward NJ. Denny and John
:. Sellon.
The history of the case, as told by the
! documents, is briefly as follows: The
Harney Peak Tin Mining, Milling and
| Manufacturing company vas incorpor-
| a,ed under the laws of this state on
April 10, 1884, 10 do business in the
/ Black Hills region of Dakota. The
principal organizer of the company was
James Wilson, and the trustees were
/ William NJ. Dean, Charles Deshler,
! Herman Knuble, 0. +. Berry, w. j..
Russell. James Wilson aud c. NJ. Field.
! An issue of 3, 600 900 stock was made At
once to purchase, rs it is cl lined, prop
} erty worth only $1,000. On January
| 81 second issue of s., 600 900 was made
! To Oliver +. Berry as trustee, and the
1 following year third issue of like
amount to Henry Clausen, jr. The En-
glish complainants afterwards took part
1 of the stock, which they how say was
/ issued TO the trustees as q blind, and
| that the books were SO juggled as to
make IL difficult to discover the fraudu-
| lent conspiracy and gains, which they
/ allege were divided among a syndicate
of stock kholders.
In 1890 an agreement was entered
| into between Samuel Untermeyer and
! Edward Sabine Barring Gould, Rt. Hon.
! Lord Thurlow, and John Taylor of En-
gland and the Harney Peak Tin Mining,
I Milling and Manufacturing company by
which the Englishmen obtained 10000
shares of stock of 500 par value for
| 81. .535, 900. Only a small sum of money
was paid, but two subsequent agree
ments were made by which the English.
men were to issue el ,000. 900 in bonds OF
aa English company, giving security fol-
the rest. which they failed to do, but
! fl,Oe0,000 in bonds were put on the
Black Hills property, which were issued
| to the English company in part pay and
partly as security. Another Gl l,000,0Ot
mortgage was afterward placed, over
400 mining claims were purchased. bu
an attempt was made to work only
twenty OF them, and the only thing min
ed, according to an affidavit Of Gsorgt
N. Hamilton, was 900 tons of ore which
has never been treated. The English
men, who had invested between $4,000,
600 and 5000, 900. becoming suspicious
sent over agents to investigate, and it II
alleged found that the American mem
bers had put up only SOC. 900 in cash fo
all the property. Samuel Untermeyer
il is charged, while on q salary Of $50, 900
actually represents $500, 900 in cash anc
stock, and others have received sum
more or less exorbitant.
Not more than 5000 600. il is said. hal
been expended in working the mine
and building the mills, and the English
men want to know where their millions
went to. The books of the company
were seized at 80 Wall street this after
noon and subpoenas served on the de
Enu1apfa