The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-06-30

shares of the com pany's stock were bought
In small lots by persons of moderate and
small means. This stock was fine in.
vestment at the time, as the payment oil
the Judgment would have amounted ia
from So to $40 share to the holders OF
stock.
Soon after Fox won his suit the stock
went as high as So and 81. After the case
was carried to the Supreme Court, how
ever and fingered there month after
month and year following year during the
multifarious legal processes too common in
such cases, the stock declined and assess
ments had to be paid. The assessment
burden fell the heaviest on the small
holders, who since the levying of the last
assessment on May 90 have become des-
perate. AS the time approached when the
assessment became delinquent there being
no sign of decision from the Supreme
Court, these same small stockholders grew
violent in their expressions of feeling, even
going SO far as to threaten to explode dyna-
mite bombs under the Supreme Court
building.
Mr.. Fox, the plaintiff who obtained the
million-dollar judgment for the stock
holders, said yesterday that he had been
approached by dozens of exaSperated men
who have their all invested in the Hale d
NoIcross stock with threats of this kind on
their tongues. He continued:
Some of them seem to think that because |
obtained the Judgment in the lower court am
to blame for the failure of the Supreme Court
to render a decision confirming or reversing
Judge Hebbard. / do not exaggerate &C all
when 1 say that actually fear that some O.
these poor stockholders, who are i'll danger OF
losing their stock, will attempt something Of
the kind suggested in their desperation. am
not an alarmist by any means, but am SC
familiar with every detail of the case and the
feeling and situation of many of these stock.
I n slit ,pdi in 10 Sqia al
an opinion.
1t does not require much mathematic cal
culation to show what an effect the holding o1
this decision back hes had on the stock of the
mine, and you will learn on talking to the
brokers that mining stocks all along the line
have suffered in consequence. The last assess
ment OF 20 cents cannot be paid by many OF
the poorer holders, and it viii have to be sold
There are something like 40 900 of the Ito 00C
shares that are held by the class to which
fsir you can readily wh
cents, or more accurately speaking, 81 o. and
81 10, as the assessment is added. To-day
81 05 was asked and $50 shares were offered
Then, again, there is the 81 so which il
added to each certificate when the stock goes
SO far as delinquent sale. Whether the Ger
tificate is for 100. ten, or even two shares, the
share as much as it does the man whose Ger
titicate calls for 200 shares. The Supreme
Court is two months overdue now, and the
members have not been drawing their salaries
will have been six months since the case was
last submitted, being three months in excess
OF the time allowed in which to file decision
believe the majority of the Supreme Court ii
honest, but, considering all things, there Ger
tainly appears to be something wrong
number of prominent stockholders
were consulted as to the effect of the Hale
& Norcross suit and the delay of the Su
preme Court on mining stocks generally
and they offered consensus OF opinion
confrmatory of the views expressed by
Mr.. Fox. They agreed that capital hao
been deferred from speculation in mining
stocks. Much depends on the decision o.
the Supreme Court. Hundreds of thou
sands of dollars-perhaps millions-have
been diverted from that Channel of invest
ment.
With the accrued interest the Judgment
will now amount to nearly a million and s
half. This would mean something like $11
share to the individual stockholders.