Arizona republican., 1899-12-23
UNITED VERDE LITIGATION.
Justice Gildersleeve Hears Arguments
 of Counsel.


 | Atwater & Cruikshank attorneys for the United Verde Copper company, and also for United States Senator William A. Clark and the other directors of the company, appeared before Justice Gil- day and opposed the continuance of a temporary injunction restraining the sale. on December 19, of the mining properties and works of the corpora ton. The copper company has it's mines and plant at Jerome. Ariz., and ! it is said to be the largest copper pro- ducer in the world. Counsel said that large dividends had been paid for many years, and the mine was never in better financial condition than at present.
 The sale objected to by George A. Treadwell, a minority shareholder in the company and the plaintiff in the ! injunction suit, was merely a formal sale for the purpose Of carrying out a scheme of reorganization agreed on by the directors and the majority shareholders of the corporation. The temporary injunction sought to be con- tinued by MT. Treadwall was obtained week ago by him. and he also se- cured an order directing Senator Clark and his brother directors to show cause why the injunction should not be made permanent. The company was capital ized with a stock of $3.OOO,O ,OO0, and the minority stockholders hold only 5000 worth of shares.
 Henry G. Atwater, in opposing the continuance of the injunction, said that his clients held S2, ,991 eco worth of the stock. The afidavits presented bv his clients showed most conclusively that the charges made by the plaintiff, that Senator Clark and the other off, cers of the United Verde Copper com pany had formulated the plan of dis solving the corporation under the laws of this state and reincorporating un- der the laws of some other state for the purpose of getting the stock held by the plaintiff for less than it was worth, was without the slightest foun- dation.
 Counsel for the plaintiff maintained that the injunction should be contin- ued, as the reorganization scheme was not in the interest of the stock holders. and there was no reason why the charter should be transferred from New York to West Virginia.
 Charles Demond. who. with Walter s. Logan, represented MT. Treadwell, alleged that the property was worth at least S100, ,0O0, 900 and would bring that sum at a properly advertised sale. Senator Clark vas. he alleged, since he secured the practical control of the company. drawing from the earnings of the mine no less than S299,0OO a month, as the company was paying dividends which aggregated about S7, ,0OO. OOO a year. If the sale, as con- templated went or. the property would not be likely to fetch more than s, coo, GOO.
 Justice Gildersleeve asked MT. De- mond how many shares MT. Treadwell held.
 Seven hundred. Your Honor, which are now worth S21O, ,0O0."
 What do you complain of?'' in uuired Justice Gildersleeve,, If you get the full value of your stOck?"
 That the sale has not been proper ly advertised. and that the notice of sale is too short. It should be ad- vertised for six months. Senator Clark has at present absolute control over the terms of sale The mine is the richest in the world, and the amount of ore is unlimited. We have affidavits from responsible persons, who will bid at least S5O,0O0,0O0 for the property"
 Justice GiIdersleeve smiled as he said that the charge of mismanage- ment, which had also been made, re- 1a1 l,i of 1.ty q q Q hT President Lincoln, when informed by man that General Grant took too much whisky: "If you can tell me the brand I'll send a barrel apiece to all our generals" He then took the pa pers and reserved his decision.-New York Tribune.