New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-16
PART II.
SIX PAGES.
United VERDE LITIGATION
,,.sr1cE GILDERsLEEvE HEARS AHIo-
MENTs OF COUNSEL AND RE-
crnuES DECISION.

Cr,,rsbank attorneys for the United
- Conner Company. and also TOT oh'eo states
o,or William A. Clark ana the o'"ei uiieO.o'
seha'V' o,,,ra,v anpeared before Justice Glider
-. IN the Supreme Court yesterday ana OPP
the continuance Of a temporary hluheuoh
P.-oining the sale. on December ~ or the MN
" .-oncr,ies and works OF the corporation The
ms y oroponv has its mines and plant at Jerome,
copy ord {, IS said to be the largest copper pro-
Az 4, tho world Counsel said that large divt-
GU GU had been paid for many years, and the
o'"V os never In better financial condition than
Il present -. c,oorco 7,roodn,eu
,.~,v shareholder in the company and the
,,,T IN the injunction suit was merely formal
pc 9or the purpose Of carrying out n scheme of
sly ,,o,ion agreed on by the directors and the
cha reholders of the corporation The tenn
me- ,oi,nction sought TO be continued by Mr..
20" ,u.o, was obtained week ago by him. and
- secured an order directing Senator Clark
he mother directors 10 show cause why the
.,ot,o, should not be made permanent. The
-.,o,v was capitalized with a stock OF 100000
and the minority stockholders hold only SS""
worth o. shares
u, No Injunction said that his clients held 81 e9l-
"A worth Of the stock. The affidavits presented
4, his clients showed most conclusivcly that the
sarge made by the plaintiff. that Senator Clark
"a .be other officers Of the United Verde Copper
SSaa ~. had formulated the plan OF dissolvng
~ eornoration under the laws of this State and
felncorporating Under the laws Of some other
~ tho MA .ntif for less than IL worth. was
.s.ho,,, rho slightest foundation.
"ronnsel Tor the plaintiff maintained that the in
,,oction should De continued. the reorganization
chen,e was not IN the interest OF the stockholders
nd there was no why the charter should be
"SSarfs Demond. who with Walter S. Logan, rep
,sserted Nr Treadwell alleged that the property
rs worth al east 500 600 00 and would bring that
sum al a properly advertised public sale. Senator
CLARK was he alleged since he secured the practi-
raj cout,o; OF the company. drawing from the earn
,hc company was paying dividends which aggre
gated about S.c1,0cO year. II the sale. as con-
fsnnafed. went on the property would not be
ikeiv 10 fetch more than 100000
Justice Giders.eeve asked Mr.. Demond how
many shares Mr.. Treadwell held.
Seven hundred, Your Honor. which are now
worth $4,000
what do you complain Of" inquired Justice
Glierseeve, III you get the full value Of your
stock
That the sale has not been properly advertised.
and that the notice of sale is too short II should
le advertised for six months. Senator Clark has at
present absolute control over the terms of sale.
TIE mine Is the richest in the world. and the
amount Of ore is unlimited. We have affidavts
from responsible persons, who Will bid at least go,
R0 90 for the property
Justice Gildersleeve smiled as he said that the
charge Of mismanagement. which had also been
made reminded him Of a remark made by Presi-
eral Grant took too much whiskey: II you tell
me the brand I'll send a barrel apiece TO all our
generals" He then took the papers and reserved
Bis decision