The Philipsburg mail., 1899-02-17
Disagreements Among the Stockholders Have
Caused No End of Trouble.
A VERY RICH GOLD PROPERTY
Over $162,OOO Taken Out in Less Than
One Year and Still the Company
Winds Up in Debt A Re-
ceiver Is Appointed.

company against the Sunrise Mining
md Milling company and others, were
heard by Judge Napton. in chambers,
1T Anaconda, last Tuesday, and Mr.
H. P. Napton, of Deer Lodge. was ap-
pointed as receiver.
It is to be deplored that this valuable
should be tied up by endless
aud it is hoped that the
receiver will effect speedy settlement
so that operations can soon be re-
sumed. The Sunrise is one of the
most valuable gold mines in the state,
and during the last eleven months
prior to the closing down, over $l62,
900 worth of gold was extracted. A
disagreement among the stockholders
resulted in a suspension Of operations,
and the several factions have accused
each other of committing frauds and
various other acts prohibited by law.
In November, 1897, shortly after the
property had been closed down, attach
ment proceedings were commenced by
various creditors OF the company, APP
parently upon an understanding with
some of the stockholders. and num-
ber of claims We're bought up by the
Thompson Investment company, OF
Butte. who afterwards purchased the
personal property OF the Sunrise com
pany at sheriff's sale. Everything pro-
ceeded favorably. and speedy resump-
ton was hoped for by every one who
held some Sunrise stock. II appears,
however, that another disagreement
among the directors and stockholders
who controlled a majority OF the stock.
resulted in additional litigation, and
one of the largest stockholders i'll the
concern made fragrant statements that
he and all of the remaining stockhold-
ers were being jobbed. This resulted
in the creation of two factions, repre-
senting about an equal amount OF
stock and each attempting to secure
control of the property. Both sides
have expended large sums OF money
carrying on lawsuits, and the stock that
few years ago could not be purchased
for less than fifty cents share, has
actually become worthless on account
of this endless mess of litigation into
which the affairs Of the company have
been plunged.
The mine is as good as it ever was,
and in fact is now developed to such
an extent that the stockholders should
realize handsome dividends, and un
doubtedly would if the business were
conducted on an honest and fair basis.
The history of the Sunrise company
is one of continual litigation, and the
money which has been expended IN at:
torney's fees and court expenses would
be sufficient to pay every stockholder
nice little dividend. Conditions have
lately gone from bad to worse, and al
though the president Of the company
had repeatedly served notices of meet
ings on the directors, he has been un'
able to secure the attendance of suffi
cient number to transact business va
} rious suits against the company were
being pushed, and that President T.
M. Durfee found himself in peculia
predicament is apparent from the fol
lowing notice, calling for a meeting O
the board of directors just prior to tn
time appointed for the hearing of tn
Injunction suit recently brought b.
the Thompson Investment company:
Notice of Directors Meeting.
You are hereby notified to attend
meeting of the trustees OF the Sunris
Mining and Milling company, at tn
Office Of the company at Philipsburg
. Montana, on Monday, February 18th
) 1899, at 10 o'clock a. m, called for tn
following purposes, to-wit:
First-To fill vacancy in the boar
of trustees, caused by the resignatio
of David NJ. Durfee.
Second-To authorize attorney or al
torneys to appear for the company !
} the suit recently brought against it b
, the Thompson Investment company II
= the appointment of a receiver.
3 Third-To authorize the director
$ to bring an action in the name OF tt
= company to set aside certain -judt
= ments that have been fraudulently ol
8 tained against the company.
Fourth-To bring an action again
4 any director or directors who are r.
! sponsible for allowing these fraudulel
- judgments to be obtained
Fifth-To provide for the raising
the money necessary to redeem Il
property from execution sale heret
= fore had. f. NJ. Durfee,
President
r However urgent the business, NJ
y Durfee was not successful securing
- sufficient attendance at his called met
ing, and the funds necessary to empl
counsel to appear in court in behalf
- the company had to supplied from pl
"a yate sources.
! The appointment Of receiver is t
= result accomplished to date, and WI
Z is to become Of the property in the
! ture remains to be seen. 1t will U
: doubtedly be sold by the receiver
Z satisfy judgments and other oblii
! tions of the company, and it is to
Z hoped that something will remain
4 the innocent stockholders who w
vi C1,nfinned on Fifth Pnde.