The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1899-03-11
A BIT OF NEIHART HISTORY.
How the Big Seven Mining Cumpany
Was Organized.

81 think it well that the public
should understand the truth of the
matter and let the people judge for
themselves whether there is any mer-
it in Mr.. Klenze's case or whether he
is unjustly harrassing a Legitimate
enterprise that has been made to add
largely to the wealth of our country
through the perseverance of some of
the foremost mining men of the state.
"When Mr.. Klenze filed his suit
it struck me as rather peculiar that
he should have rested upon his rights
for so long time. 1t has always
been my observation that when
man has a just cause, he seeks to en-
force his rights at once, but when he
has poor cause, he delays in order
that witnesses may die or forget.
"In 1891, T. E. Collins, E. J. An
derson and j. G. E. Barker were the
principal stockholders of the Golden
Hope mining company, and George
Seifred, William Seifred, Frank Sci
fred, Ada Seifred and James Seifred
were the principal stockholders of
the Jennie Whipple mining compa-
ny. Mr.. Klenze, | believe, claimed
that he was entitled to $4,000 shares
of the stock of the company, for SER
vices he had rendered in incorporat-
lag the company, and as consider
alton for his having loaned the dig
nifty of his name to the enterprise.
The Seifreds claim that he was not
entitled to anything like this amount
of stock, but Mr.. Klenze, being the
secretary, issued the stock to himself.
ga meeting was held to vote upon
a proposition to consolidate the two
companies into the Big Seven min
ing company. At this meeting more
than 100000 out of 100000 shares
of the Jennie Whipple company
were represented, and all of these
shares were voted in favor of the
consolidation.
"After the consolidation, 100000
shares of the Big Seven were issued
to Collins, Anderson and j. G. E.
Barker, and the same amount was
issued to the Seifreds and their asso-
ciates.
"The Seifreds sold their interests
to ID. L. S. Barker, e. j. Barker and
John R. Fitzsimmons. Collins, An
derson and j. G. E. Barker sold 450,-
600 of their 100000 shares to the
same parties, and it is we'll known
fact that the Seifreds received more
per share for their stock than was re-
allied by Collins, Anderson and
Barker.
"After this, Fitzsimmons sold his
interest to J. 7. Arlington, d. l..
S, Barker, and E. J. Barker, who are
today the principal stockholders of
the Big Seven. Thus it will be seen
that those whom Mr.. Klenze seeks
to injure are all persons who were in
no way connected with the company
at the time of the consolidation; they
are all innocent purchasers, They
purchased their stock cheap, after
the holders had despaired of ever be-
ing able to make anything out of the
mine. They gave the price that was
asked. They did not obtain their
stock in an unfair manner. They
gave their time and attention to the
development of the mine. They ex-
pended $4,000 in the work before
they ever realized a dollar. They
took chances as does every person
who puts money into an undeveloped
mine, and ii. this instance they won,
and l believe that every right think
ing man will say that they are enti-
tied to the benefits of their efforts.
klenze sold too cheap, and now he
wants to play the baby act, and by
legal technicality he attempts to re-
cover property which the industry
and money of Others has made valu-
able.-Tribune.