Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-01-21
MONTANA ORE PURCHASING
CO.'S BOND INSUFFICIENT.
HElNZE, MACGlNNlS, CLIFFORD
HAVE NOT SHOWN UP ENOUGH
CLEAR PROPERTY TO COVER
THE BOND
COMPANY STOCK is EXCLUDED.
AS the Property Is at Issue in the
Great Suits Now in the
Court
Special to the Inter Mountain.

Special to the Inter Mountain.
Helena, Mont, Jan. 21.-The claim Of F.
Augustus Heinze that he is worth ten
million dollars was discredi ed by Henry
q. Rickerts clerk of the supreme court,
in giving his reasons for disappearing
the bond Of the Montana ore Purchasing
company. John MacGinnis and Stanley
Clifford are sized up in the same sum-
mary manner.
After saying that he hrs sustained
objections to these three sureties as in
sufficient, Rickerts gives his reasons in
the following language:
AS to the sufficiency of F. Augustus
Heinze. Mr. Heinze some time in June
1900. in this same matter signed an
undertaking in the sum of $4OO, 600. OBJ
jt ction was made at that time to Heinze's
suf1iciency, and the court after hearing
the evidence, overruled the objection ana
accepted Heinze as such surety
In considering Henze's sufficiency.
nave taken into consideration his obli-
cation upon other undertakings. as in
my opinion this one is but a continuation
of the one given in June 1900. The two
nonds are practically one and the same,
and therefore Heinze should show re-
Upon the hearing, Heinze testified he
was worth In excess of ten million doll
lars He testified he owned controlling
| interest in the Montana Ore Purchasing
company thirty lone thirty-sixths inter-
ests in the Nipper lode claim, which he
| Naiued at five million dollars an inter-
| es' IN the Snohomish and Tramway lode
cialms, winch he valued at one million
dollars, also an interest in the Minnie
Healy lode claim. which he considered
valuable. He also testified he was the
owner of great many other mining
claims, for which no value was given
other than the purchase price
Now. with reference to the Nipper
claim. which Heinze testified was worth
flVe million dollars, he testified he pur-
chased 1T in 1898 and paid $l4O,OOO for it.
ana admltted there was a mortgage upon
tht claim for the sum of 500, 900. that it
has been in litigation almost constantly
since he acquired the same and is now
IN the hands of a receiver
He testified he purchased ,he Sno-
homish and Tramway lode claims for
the sum of $135, 900, and admitted an in
dehtedness of about $25, 900 on these
claims, secured by mortgages These
claims are also in the hands of a re-
Cever
The Minnie Healy claim which he
,estliled was very valuable is also in
litigation. Miles Finlen claims to own
the whole of Henze's holdings therein.
lie purchased the Cora for sic, 600
| upon which there is an indebtedness of
$oooo or $4,000, he does not know how
| much. The Switzer claim is under bond
! TO hlm. and he has paid there on S45
wv the balance due not being stated.
| Heihze admits that he owes $50 600 on
'he Hofhestake, Calliope and Belmont.
HeinZe shows an individual indebt
edness of about 5000 900 secured Inv
mortgages upon his property and
CLAIMS a value of five million dollars
| Tor piece of property for which he
paid $4,000 and which is in litigation
| IN fact 1t might be stated that nrac-
ucaliy all the property Henze testified
| 10 as having value is in litigation
| III considering the sufficiency nf
Helhze as surety on this bond | have
excluded from consideration the value
| OF the Montana Ore Purchasing com,
pany's stock entirely.
Il am inclined to believe suratias
| should be worth the amount for which
they obligate themselves, OVER and
| above any stock of which they NAV
! DE owner in corporation which re-
f"i'' '' ,Heiu 10 give bOnd. II the bond
! should ever become effective, and If
! should be required to fan back an
! suretaes for its collection, that would
mean this stock would be yalueless
because If it had value it must be over
ana above the liability of the company.
| cannot approve of Heinze in any
| sum in excess of five hundred thousand
| dollars. AS to the sufficiency of Mac
Ginnis MacGinnis did not pretend to
! qualify in the sum of $3.50 excluding
the stock of the NJ. O. =. Co. He testi.
fled he owned 100 shares of Boston
a Montana stock valued at ss1 OOO.
loo shares Anaconda. valued at 81 600.
loo shares Parrot. valued at $4,000. 100
shares Butte & Boston, valued at 81 600
and an interest in the Basin townsite
| valued at $4,000. 1t is evident that en-
Guiding the stock of the NJ O. p. Co.
MacGinnis is not able to qualify for the
amount for which he signed the bond.
He testified he had an interest i'm the
Homestake mine, but was uncertain as
to the amount owed on same On the
showing made by MacGinnis $50 600
| would be the amount for which to an
prove him.
"As to the sufficiency Of Clifford Gff-
ford testified he was the owner of & 700
shares of stock of the NJ O. p Co. In
addition to that he stated he had some