Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1894-07-12
HARVEY PEAK TROUBLE.
English Stockholders OF that Mining Com.
pany hin They Were Swindted.

pany Think They Were Swindied
The complaint carrying the applica-
tion for a receiver for the Harvey Peak
Tin Mining, Milling and Manufacture
ing Company charges fraud against
the trustees OF the defendant company,
Lewis May, James Flanagan, William
NJ. Dean, William Romsen, George
Ehret. Charles ID. Despler, Herman
Knubel, Louis ID. Weber, w. l.. Flan-
nagan, the estate Of Frederick w.
Foote. the estate of Henry Clausen,
jr.. the estate of Daniel $. Appleton,
Samuel Untermyer and the Farmers
Loan and Trust Company. Complain
ants in the suit are Charles Fletcher,
Henry l.. Maud, Charles +. Denny,
Edward NJ. Denny and John 5. Sellon.
The history of the case. as told by
The Harvey Peak Tin Mining. Milling
c~orporated under the laws of this state
on April lG. 1884. to 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 Des-
pier, Herman knubel. .. +. Berry, w.
j. Russell, James Wilson and G. NJ.
Field. An issue of S5,OO0,OO) stock
was made at nee to purchase, as it is
claimed. property worth only ST. 200.
On January 81 a second issue Of 3d.
GOO, 600 was made to Oliver F. Berry a.
trustee, and the following year a third
issue OF a like amount to Henry Clau-
sen. jr, The English complainants
afterwards took part of the stock,
which they now say was issued to the
trustees as a blind. and that the books
Were so juggled as to make it difficult
to discover the fraudulent conspiracy
and gains. which they allege were di-
vlded among a syndicate of stock
holders.
In 1890 an agreement was entered
into between Samuel Untermycr and
Edward Sabing Barlng-Gould, Rt.
Hon. Lord Thurloy and John Taylor
OF England, and the Harvey Peak Tin
Mining, Milling and Manufacturing
Company by which the Englishmen
obtained 9O. 900 shares of stock of 500
par value for ST., $4,000. Only a small
sum of money was paid, but two subse-
quent agreements were made by which
the tnglishmen were to issue Il ,0D0,-
900 in bonds of an English company.
giving security for the rest, which
they failed to do, but 81, 900, 900 in
bonds we're put on the Black Hills
property, which were issued to the
English Company in part pay and
partly as security. Another 6 ,000,-
900 mortgage was afterward placed,
over 400 mining claims were pur-
chased, but an attempt was made to
work only twenty OF them, : and the
only thing mined, according to an aft
davit Of George n. Hamilton. was
1000 tons of ore which has never been
treated. The Englishmen, who had
invested between So, 900, 900 and 3d.
100000, becoming suspicious, sent
over agents to investigate. and it is al
legged found that the American MEM
bers had put up only 5000, 600 in cash
for all the property. Samuel INTER
myer. it is charged. while on a salary
of $1,000, actually represented $780,
900 in cash and stock, and others have
received sums more or less exorbitant.
Not more than 5000, 900, it. is said,
has been expended in working the
mines and building the mills, and the
Englishmen want to know where their
millions went to. The hooks of the
company We're seized at 33 Wall Street
and subpGnas served on the defend
ants,