The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-04-15
COPPER WAR is
NOW AT AN END
&
Senator Clark Announces That
HostiIities Have Ceased.
THE STRIFE HELPED NO ONE
EFFECT ON AMALGAMATFB
WELCOMED BY HOLDERS.
The STRIFE HELPED NO ONE
special to The HeraIdA

\ EW YORK, April 14.-Copper fur
ntshed another sensation in Wall
street today Senator Clark Of
Montana announced that the rate war
between the trust and the independents
was over, and that hereafter there
would be an agreement as to the selling
rate Of the metal which would allow a
fair rate of profit to all mfne-oNners.
Senator Clark said in regard TO the set
| Element:
We have decided to end the war. I
/ believe that it win be for the best in-
/ terest of all concerned, and that from
now on we VIII be on amicable terms
with the independent concerns. I viii
admit that the war did not benefit
either of US, but the manner in which
/ we have settled the matter practically
/ assures victory for both sides"
| The senator refused to divulge the
details of the settlement
Amalgamated stock moved. over
| point on the announcement, and hold
/ ers of the stock who have been having
rough time of il for some months be-
/ gan 10 cheer up d bit.
/ This, Wall street believes. means
l that the trust and the independents
are tired Of cutting each others threats.
| The reproduction Of copper and the
/ effort Of the Amalgamated TO hold the
/ price Of the metal above is cents q
/ pound is what led to the immense drop
/ in the price Of the company's shares.
There viii be a meeting of the Anal
! gamated directors on Thursday to act
on a quarterly dividend.
Expect a Dividend Again.
It is reported that it viii be one-half
| Of 1 per cent. The last dividend was 1
| per cent and for the quarter before
| that Ia per cent. Up 20 the time Of
1 the slump there was always al extra
| dividend declared al the end Of the
/ year, making the annual dividend per
/ cent.
| Senator W. A. Clark Of Montana was
| a witness in the supreme court, this
| city. today, in a suit brought by Pro-
| fessOr George A. TreadWeIl against the
| United Verde Copper company and
| Senator ". A. Clark, Charles w. Clark
and the other directors Of the corpora
/ ton. Professor TreadWel asked that
/ the defendant company and its direct
ors be enjoined from selling or dfspos-
/ ing of its assets until the judgment Of
tho cQurt shall have 5eeu pronounced
that Z. receiver for the company &c
appointed, and that an accounting Dr.
made by the defendants before a referee
for the profits Of the corporation since
December, 1888: that the court direct
the sale Of the property of the United
Verde Copper company then remaining
undispOsed OF, and appoint q referee 10
conduct such sale. who shall account
for il and pay over the proceeds. when
/ the plaintiff is to receive d proportional
share Of the moneys. and a proportional
share in the surplus and assets Of the
company.
What Treadwell Claimed
TreadweH claims to own go shares Of
stock in the company which shares. he
says. are now valued at SlS6,000 He
alleges that he was wronsfuiiy de-
prived of his share in the company be-
| cause he refused TO sell. Senator Clark
denied that he made certain threats as
10 what would be done if Professor
| Treadwen refused TO agree TO the re-
organization Of the COMPANY such as
was effected in 1900 He said that i'm
| 1898 he asked his agent to try 10 get an
option on Professor TreadWelrs stock.
! but nothing came OF it.
Senator Clark said he made no at
tempt TO buy Professor TreadwelTs
stock after reorganization proceedings
| had been started.
Did you ever tell Mr.. AHaire that
l you QlQ uUL LlLEl4u ~ DE GAIIDteG AE
| that pauper any longer, referring 10
Professor Treadwell?' was asked.
I never did.
It was brought out in the course of
/ Senator Clark's testimony that the
! United Verde Copper company had OPP
posed a man named Burns. who was
candidate for sheriff of Yavapai county.
Senator Clark said that Burns was
discharged employe Of the company,
and that he had threatened to get
even" When Burns became the Re
publican candidate for sheriff, he gave
orders that Munds, the Democratic can
didate. should be elected, and that the
company should spend any amount Of
money that might be needed for legiti-
mate campaign expenses. About $4,000
was so spent Senator Clark was then
| excused. in order that ne might 90 to
/ Washington, and it was arranged that
| he should return for crOss-eXamination
/ later.