The Portland daily press., 1898-08-03
STILL HOPE FOR GOLD.

Jernegan Stockholders Cling to Their De-
lusions.
Boston, August q. AT the Boston office
of the Electrolytic Marine Salts company
today, President Ryan and several of the
directors were in conference over the sit
uation. The plan of sending out circu-
lar to the stockholders was discussed but
it was decided that this step should not
be taken. until an investigation OF the
condition of the North Lubec plant is
made.
One who Is close to the affairs Of the
company, said this morning:
"We have not given up hope yet. 1t is
an admitted fact that there is in each
ton of sea water from one-fourth to
grain of gold, worth from one to a little
over four cents. Now we hope to demon
strate that our plant will yield profitably.
There are nearly $50 aocumulators and
when they were in working order we got
good returns.
Superintendent Hill of the Boston Office
of the Pinkerton Detective agency, in
speaking of Marcus Jernegan, whose
|
company is in Paris at present, said:
sWe have recovered 600 worth of
bonds of the Marine Salts company from
Marcus Jernegan, which he brought from
New York.
ave have the money for safe keeping
and we are going to make every effort to
capture the Rev. Jernegan before he
| leaves France. 1t Is thought among those
interested that should q settlement OF
the company's affairs be found necessary,
at least 40 per cent will be returned to
| the investors.
After the conference today, President
Ryan said:
''The directors will in a few days call
| q meeting of the stockholders, when the
affairs of the company will be discussed
| All the directors know enough about the
| process to put the works to rights. we
now intend to go to North Lubec and see
for ourselves what can be done. We snail
take some chemists and electricians with
us who know the business. We shall put
the plant in shape and try to get gold
from the accumulators. There is gold in
sea water The only question Is, can 1t
be extracted at any expense to make 1t
profitable, We shall make an experiment.
and report just what we lind them.
eff the scheme is failure we shall say
so, and draw the company's affairs TO
settlement.
them about $500, 900. Not dollar OF this
belongs to the company. but 1t IS their
share of the receipts. I should think that
the affairs of the company might be
settled anywhere from 20 to 40 cents on
the dollar
JERNEGAN UNDISTURBED.
Paris, August 2.-The Rev. P F. Jer-
neean of the Electrolytio Marine Salts
company of Boston, Mass :, for whose
arrest a warrant has been issued in that
city and who arrived at Havre yesterday
on board the French line steamer Ma
varre, subsequently taking the train Tor
Paris, without mOlestation, no extradlt1on
proceedings having seemingly been taken,
seems to have deserted the train while
at the different hotels and lodgings have
! failed to discover clue as to the where
abouts of the fugitive.
AN ARREsT..MADE.
Boston, August "A special to the
Herald from Lubeo, Me-, says: The
| first arrest in connection with the Jerne-
gan case was made today, when william
Arrin tor, the chemist of the Electrolytlc
| Marine Salts company was taKen lnto
custody charged with being implicated
in fraud. He was arraigned before
trial justice and held in 1000 for his ap-
pearance in the supreme court IN octo-
WANTED AS SOUVENIRS, MAY BE.
Boston. August alive hundred
shares of the Electrolyt1c Marine Salts
company stock were sold in the office of
the company today at lOc per snare.