The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-01-23
THE WAR EAGLE SALE
FIGHT or THE sTockHoLDEas AT
THE SPOKANE MEETING.
Trustees Retarded the Rejected Bids
ss Doubtful and In she Nature of
Options. while the Cash Was I'm
the Bank From the Good~rhsm
syndf~af~-A New srs~iter Likely
fo BE Built at Trail.

No ever. IN months has caused 50 much
interest and talk among mining Hsn as
the GALE on iast wednesday % the famous
War Eagle mine. The purchase price a.
s!ready pah1lehed n the Posf-Intelli-
ganeAr. was xTaaD1 cash. and the title
ds4os have been transferred 70 the officers
~ the new company. Besides this the
stockhofdera receive about $1,000. receipts
from ore IN transit. The price amounts
10 about ia per snare
The contamination came after ten
restunsts day o. controversy. and was
achieved In the face of spirited oDposi-
lion. which forced the Good@Efau sy-ndi-
cate 10 increase their offer BY nearly
eso.eaa Or the stock represented al the
Spokane meeting. 2S7.iG shares voted
for the proposition. and II. rs shares were
thrown against Il.
After the battle was over. the FIVE OF
faa seyea trustees who are now IN
Spokane passed resolution IN ae-
e0rdancs with the vote Of majority o.
the stockholders. and the proper officers
executed conveyznces placing the prop
.rfy in the hands OF Attorney Percy
gault who Is representing the Good
erham syndicate. He in turn transferred
the money 10 the officers az the Old com
pany. Ths Spokesman Review published
the following interviews:
John A Finch. vice president OF the
mept.
The stockholders voting for the accept
ancs OF the Gooderham proposition did
80 because the price 10 be paid D. Nr.
6sooderham Is all cash upon the delivery
Of the title deed. The other propositions
submitted-one by Mr. j.. Heneage and
one by Mr. Frederick Burbidge-were
regarded as IN the nature OF options, with
a payment down In one case or x2H.ps
and In the other Of Sc. a19. The stock
holders voting for the Gooderham propo-
sitton know nothing % the principals max
ms the Heneage and Burbldge offers.
and felt grave doubt as To whether the
propositions would be carried out or not
on the other hand. Mr.. Gooderham is
well known as a man OF great wealth and
eminent responsibility. and moreover. the
morry FOR the purchase price Is now on
deposit IN the bank at Kossiand
There are other reasons also which
actaated the stock holders voting for the
Cooderbam proposition. which win be
known IN time. and which they believe
win fully Justify them ia accepting 81
and all stockholders who viii take pains
10 investigate for themselves the reasons
which have actuated the largest stock
holders Of the company I'm refusing the
Heneage and Burbidge propositions will.
they feel sure, bs completely satisfied"
President Patrick Clark said: I'VE have
made the best possible bargain for all
the shareholders and time win fully prove
&. We have given exactly the same con-
alteration 20 the Interests Of the smaller
holders that We have given 10 the larger
owners"
George NJ Forster one OF the attorneys
for the majority. said he apprehended no
further opposition. AZ owners Of nine
'enths Of the stock la opposition had ox-
pressed satisfaction with the transfer
On the other hand. a number OF the
smaller stockholders were emphatic after
the meeting In declaring that the major
ity had thrown away a much better 0ffer
and sacrificed about % cents per share In
SO doing