Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1900-08-25
DO NOT WANT RECEIVER


feet. a. Mr.. whalen had neglected
either parposely or otherwise 10 have
the ladders 10 shape 90 that the ground
could be examined, although he has
hsd ample money to have done this bad
be seen ft. Instead be had spent this
money on one other claim. the Prince OF
Wales, situated about 1900 feet from
the main shaft, which opening had been
down about twenty-five feet. and he
had sunk twenty feet deeper. and found
II the depth Of forty feet what be
claimed to be bat . pocket formation
amounting to nothing.
To sum up, after . careful inspection.
both experts agreed that ID would be
both . waste Of time and money to con.
tinus operations on the Whalen proper
~. In other words. gentlemen, l can
not refrain from branding Mr.. whslep
as > fraud and knsvs Of the 6rst water,
aud were circumstances different ! should
not hesitate in placing him behind the
bars, . reward he has 30 justly earned.
II was suggested before leaving the
mines, a. q last hope, that We spend
81, 500 more in further developments TO
see IL we could strike something, but
after due consideration We felt that this
money would 60 just exactly ~ the for
mer amount allowed Mr.. Whslen had
gone, and determined ~ per minutes Of
our previous meeting to discontinue op'
srations.
There was absolutely no ledge or ledge
matter indicating location Of any copper
lead, and although there may be copper
10 those hills, il would be like looking for
a needle in . hsystack to end il. There
is in my opinion but one thing to do. to
close the affairs Of the Whslen company
In some manner just to all, Is . matter
Of further protection for those who in
the future may invest in this property,
for | firmly believe sooner or later Mr..
Whslen will try to raise money on this
property. as be has with us 10 the past.
| desire to have this statement placed
on the minutes OF this company, also
records. thereby preventing Mr.. Whslsn
from ever using the old records and the
present ones 10 any scheme that his SELF
styled simple Irish sense would lead him
into. Respectfully.
Signed; JOSEPH SIEGEL.
This seems 10 be a pretty strong ar
raignment, coming as il did from an
officer and stakeholder OF the COM
pany; but the plaintiff Whalen has
sworn to the complaint in this case
WHICH sets forth that the entire report
is a tissue of falsehoods made for the
purpose of discrediting the company
and rendering valueless it's property
and capital stock. for the sole purpose
of permitting the defendants to secure
possession OF the mines and other
property OF the company, thus de-
frauding the other stockholders out o.
what Is claimed to be q very valuable
mine.
Mr.. Whalen wears that, notwith-
standing the above report and all that
has been done by the defendants to
discredit the company, all the stock is
still worth more than par, which
means that the present value OF the
property is in excess OF $500, 900.
In direct conflict with the report Of
Mr.. Siegel, and the statements of the
experts Bray and Hoytema, Mr.. VIVA
len swears that there now exists in the
property at least two true fissure veins ;
that each is possessed OF regular foot
and hanging walls, extending down.
ward and increasing in width as they
descend; that the westerly vein is at
least "a feet wide at a depth of 400
feet, and the ores carry from 25 to so
per cent copper.
The complaint alleges that about
the month of January, 1898, the COM
pany sold about 1000 shares of stock
at par, $25 each, 600 shares to f. II.
Cooper, 200 TO B. B. Bennett, 2 to NJ.
J.. Johnson, 5 to Solomon Wernield
and 10 to Getta Keim, the proceeds OF
the sale Of such stock was paid into
the treasury. all OF which money has
been paid out. and that at the present
time the company has no money or
means of any kind, or any resources
except its mining property and the
treasury stock undisposed of.
1t is further alleged that all Of that
money vas necessary for the use OF
the company in order to place its
mines on a dividend paying basis, and
that if the same had been applied to
the equipping OF said mines with
proper machinery for the mining and
extraction Of the precious metals it
would have been auficienk IN inaura