The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-04-22
NO COMPANY
STORES THERE
-4
United Verde Mines Do Not Fol.
low the Example Set by Others.
SENATOR CLARK ON STAND
TELLS ABOUT THE CLAIM OF
TIE PLAINTIFF IN THE SUIT.
SENATOR CLARK ON STAND

Washington April e1.-Senator william
Clark Of Montana was cross-exsained to-
day in The case Of GEORGE r. Treadwell
against the United Verde Conner COM
pany Senator Clark and others. TO Sc
cure the appointment of a receiver for
tHe company and TO compel AN account
lug IreadWell claims 60 own CD shares
or me stock OF the tniteO Verde Copper
I company. which he says arc worth SlS6-
W lie alleges HAT he was DANA ged bv
the sale OF tho concern to COMPANY of
the same name organized in West Vir-
ginia.
Senator Clark said that when he ac-
CURED the property he found il in very
pad condition and he had to put good
Geal OF capital into the mines to make
them profitable.
Senator Clark in answer to cues
ton concerning the contract between the
jnitei Verde and Lewissohn brothers.
said Chat z the nited Verde company
mad, ili INiS, gone into the market and
sold the product of its MINIS direct TO
the trade. panic might have resulted
lhder contract. LeWissOhn brothers took
the entire product of the United Verde
miHeS. 10 Was better business for q COM
paHy like his to sell its output in bulk
rather than for It TO go into the market
and retail IT,
Reads the Letter.
Senator Clark was asked whether he.
had received d letter from TreadweH
dated Aug. g. 1898 and he replied that
he might have received il, but he was
not sure. The letter was read, as fol-
lows:
Yours OF the 5th inst. Just received.
You ask me if I thought of disposing
Of the shares I hold in the United
Verde company. Ny reply is No. II
don't care to sell. Sixty millions Of
dollars may seem large. but The prop
eTty viii bring more than that if you
choose it as a wedge in the market. /
You know that / have not had an ac-
counting for years. also have not been
allowed TO see the underground devel- /
opments. You no doubt think it policy .
10 get my price before you let me see
the greatest known mine in the world /
1T is reported that the mine has large /
quantity of gold ore, over $500 per ton I
Do YOU want 10 buy the Boston copper 1
mines three miles north Of Peck mines. {
northerly end of Bradshaw mountains, /
Arizona2
GEORGE A. TREADWELI."
The witness said that if Treadwell !
had gone into the West Virginia or
ganization he would have been awarded 1
his share Of stock and SO a share in
bonds.
AfN LA AlaAIlh IL AnlE 10 OlLEL EIf-
fessor TreadweI $3.50 a share for his
stock2" the senator was asked.
No. I don't. Not If he was forced
to take it.
''But he was given the option either
of going into the West Virginia or sell
inr was he nOt?'
IT don't know"
do y1u know any other beside the
United Verde Copper company that
pays 120 per cent dividend "A year?7
II believe the Chemical National
bank does. There may be others"
No Company Stores.
The senator said that many mining
compelled their employees to
rade .at company stores. He denied.
however, that this was the rule il the
United Verde company.
Men who Wadt 10 buy mines some
lines have a hard time arranging cap
tai. don't they-f0r instance, Mr.. Nc
was asked.
II imagine Mr.. Mcdonald would be
lble TO get all tie money he desired.
Nobody but quibbler or a scent ar
sues over small money matters Of that
lind." said the witness.
The law in Arizona regarding cam
'aign funds is net as strict as here, /
S it?'
NO"
What was the occasion Of the com
ANY spending $4,000 or $4,000 to Sc
.ure the election OF Munds as sheriff"
[ don't know that that amount was ;
pent. But out there in campaigns
here is considerable entertaining to be
lone.
why was Munds a more desirable
nan than Burns2"
I'VE knew that Munds would not !
Use his Office 20 harass or Obstruct our
corporation"
Senator Clark. is there anybody but ]
ourself who knows the production Of ,
he United Verde mine?1
Yes. several people here in New !
-ork"
Tie senator went into 2 long state
1ent as to how to form a basis Of val ]
alton in buying a mine. He said peo- ]
le were very cautious in buying. and I
suaily cut the apparent value in two I
2 making offers for mining property. r
ie said that market fluctuations had 10 ]
70 taken into consideration IN estab- {
shing the value Of a mining property. {
Ie testified that the United Verde {
line had not been tested over 700 feet
Glow the ground surface. The hear
lg was adjourned tin tomorrow.