New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-11
NO RECEIVER IN POSSESSION
GEORGE V. SIMS HAS NOT YET CARRIED
OUT HIS THREAT
ar SAYS HIS COURSE TOWARD THE MINING En-
CHANGE WILL BE GOVERNED 81 mo
co,-NsEI-WIIAT THE PREsI-

ur eAvs u,s COURSE TOWARD THE MINING EH-
CHANGE WILL BE GOVERNED BY HIS
cocNsEI,-wHAT THE PREsI-
DENT HAS TO SAY.
The New-York Mining Exchange was OPP" 10
business as usual yesterday. George v SINE M
original organizer of the who was deposeu
-, q a,rec,o, on charges Of failure TO account Tor
funds and irregularity In stock transactions ."D
not as he threatened put receiver IN posseSs'0
In addition 10 his deposition as director, ne wa
=, the close OF the afternoon call suspended from
membership for not meeting MS oDnsa"o"' -
CURED on the floor OF the Exchange
The Board OF Directors met In the 6 oah"'s anu
cordially inlorsei the action Of the members al he
,ae,,rg which relieved the Board of the unweicone
,resence of Mr. Sims ". Leslie ScrymseT the VICE
president or ne EXchange, was appolh'eu ''t,fO
rary treasurer in place of Edwin A Beers p'''
of Mr. Sims in the firm of Sims. Beers q w. W.
unlike Mr. Sims politely compiled win d suse' som
that II would be pleasing II ne oroPp'" Wv
director and treasurer
Isham B. Porter, the president OF the hxc"a"se'
said: ., J.,
"steps will be taken to compel an accounting ny
Mr. Sims FOR moneys paid 10 him OF his urn "
connection with the Exchange. FIFTEEN i"eino',
sbips were allotted to Sims, Beers Co. 10 De SOU
a. 800 each TO pay preliminary expenses VI
mora memberships were intrusted 10 them 10 We
distributed among people whose influence anu SCI
vas would be valuable to the EXcnah,e O''e ny
harshin each WAS given to the nine directors, Du'
The other six were sold for $3.50 each. ana SIMS
Beers & Co kept the proceeds. Not only tha'' ou'
they got $50 for many of the first htteeh i'le'oe
.h,ns and anpropriated 70 themselves all ABOVE a"'
"Tbe Exchange now has seventy members Inc
MAN was that each membership aoo'S '"e M.
thirty should be sold for $3.50 or TINS SUI" s
Cos ., nav r,r The membership itself. whie me
ober $50 was 10 be in the nature OF ajd
70 tho general rund IN the treasury NOM Pa a.
in for memberships above the ifst tl'i f,v,Hsnee
asoJ is Their vet Each membership carries WIN -
the ownership Of one share OF $50 st,ck were
change CORPORATION. Certificates Oh $50 na,onar
printed but by omission did not iicuus riera tas
sh,n and thev were never issued. Ne" CtI. y .
have been printed, ana are aoou' ~ y" '
issued. - ,.,,oh Mr. Sims can base
,,s nrenos,erous Claim OF ownership OF the TX,
chanffe No one understands why he mace sucn c .
claim The ETea an's OF w IFS fTou6ts We
Ing 10 show the people Una. , w rave N The in
legitimate business Time Will prove rd 10 the ia 81
the advantage Of dealing in Western MINING s,i" nd
end they viii become enthusiastic buyers anu
operators usa, w,s nreparing the
course to be pursued by him in MS relations Win
the Mining Exchange. s,o.or y, the
Colorado Stock Exchange, Of Denver SAID ne an9 no
S = F Woodw9rd Of H. c. Woodward & son, o.
Denver a stockholder in the Exchange; nag Den
looking into the proposition to esiaosn ae,nx Of
the stockholders on March = mex w Nc, ihhorhood
mend the opening Of brancn 1 '"I Il was the idea
70 70 hold calls at II a. NJ and p m; and It m,g he
be that an evening call woud De iaVOIi v IN cod
Colorado Stock Exchange deI n NJ coal iron and
railroad companies in COLORADO. ,sit,onp m the
branch here ii would not be IN opposIIn, en- @
New-York Mining Exchange. but supplementary