New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-15
SENATOR CLARK on THE STAND
TREADWEIL ABOUT UNITED VERDE
COPPER REORGANIZATION.

Senator Clark of Montana, was witness In
Special Term Part " or the Supreme Court yes
to-day before Justice Beach. in an action In which
he is a defendant as the chief owner of the United
Verde Copper Company The suit is brought by
George A. Treadwe against the United Verde Cop
per Company, Senator Clark Charles w Clark and
other directors Of the corporation who asks that
the defendant company and directors be en-
Joined from selling dsposing of any or It's as
sets until the Judgment of the court has been pro-
nounced. He also asks that receiver for the COM
pany be appointed. and that accounting be made
by the defendants before referee of the prohts
Of the corporation since December, 1883.
Treadwell says he owns go shares OF stock IN
the company now valued at $4,000 The company
was organized under the laws of New-York in 1883
August 1s99 the directors voted to dissolve the
corporation and reOrganize 1t under the laws OF
West Virginia Since December. 1855. the plaintiff
alleges, Senator Clark has held and owned ma
tority of the stock and has controlled the corpora
ton
Since 1855 dividends have been paid amounting to
So 60OC0 the complainant says. and he alleges the
property to be worth more than s9o.Go."o Sen
ator Clark is said have made repeated efforts TO
purchase the plaintiffs stock and he and the other
directors and officers OF the company have threat
ened should the plaintiff continue to refuse 10 sell
his stock. to manage the affairs of the company
as TO wipe out his interest and make his holdings
of no value. The company, the complaint says has
accumulated a surplus of $l2 10000 for which 1t has
failed to account and is alleged to have been
earning some 100000 its liabilities and ex-
penses when the company was reorganized I'M
der the of West Virginia. bonds TO the amount
of $50 eco created.
Taking up Professor Treadwells statement that
Senator Clark had made threats If he failed TO con-
sent To a reorganization of the company, such as
was effected in 1900. Henry c. Atwater, OF Atwater
& Cruikshank, counsel for the Senator ASKED Did
you ever make such a threat: ..r ,oo. = ,.s 49,.
No" replied Senator Clark. In 1896 asked my
agent try get an option on MT 1readWeIi 5
stock but nothing came of il.
i,,,.o
of Mr. TreadwelI ever having told me that was
mismanagiuE the mine, nor did | ever tell him
that | would go to the trouble OF making an
The books open at all times
Questioned about some houses that he owns on q
tract of land adjoining the mines he SAID tnat ne
purchased the land himself. and erected the houses
bought the building materials through the COM
many and had the amounts charged TO his personal
account. He said he had reimbursed the company
for every dollar thus paid out. and ne denied that
he had entered into competition with the company
in the renting Of these houses
Senator Clark said that he did not make any at
tempt to buy Mr.. Treadwelfs stock during the
progress of the reorganization. that Mr 1readWell
never asked him for reports of the condition CT
the mine or for a statement of the surplus and how
II was invested. He never told Mr. Alalre, the
Senator declared that he did not intend 20 oe
annoyed by that pauper any longer" referring TO
Mr. Treadwell
II was brought out in Senator Clark's testimony
that the FUNDS of the United Verde Copper Com
many were dra wn on to defeat the candidacy of one
Burns for Sheriff of Iavapai county senator
Clark said that Burns discharged empoye OF
the company, and that he had threatened 10 get
even with the and when he became the
Republican candidate for sheriff he (Claris) gave
orders that Munds. the Democratic candidate;
should be elected. and that the company shouid
for legitimate campaign expenses. 1t was adj
mitted that $4,000 was so spent