The silver messenger. (Challis, Idaho) 1890-1912, 1902-12-16
KNIGHTS CAREER.
Isalt Lake HeraId.l

udud2GE Vi JHc LILO UhluluS W.
But his name has been added to
the list of promoters whose meth
DDS have been questioned, and
the company saw fit to Gust him
from his position and cause his
forced absence from Salt Lake.
Knight was shrewd sort of a
fellow, and while the company
has not suffered any by his deal
iugs, he carried on the business
of theIma concern with more or
less disregard. it is said, of moral
principles. The result was a
visit of Ohio capitalists interest
ed il the property in question,
and the reorganization of the
company. Meanwhile Knight
was speeding eastward with a
view, so it is stated, eff escaping
possible legal consequences of
his strenuous career here in Salt
Lake.
In March, 1900, Knight organ
lied the Ina Mining & Milling
company. The property is loca-
ted on Patterson creek in Lemhi
county, Idaho, about 55 miles
northeast of Mackay. He cap
iatlized the corporation at $50, :
900, with 100000 shares of
stock of the par value of 1 cent
each. Then he went east to raise
capital for development pu-pos-
es, and in Columbus, Ohio, met
J. F. Hatcher and J. W. Taylor,
whom he interested in mis- pro-
position. After some investiga-
tion these gentlemen contracted
with the organizer for a large
number of shares.
Knight stated, and the con
tract read, that it was to be
treasury stock, but by the time
Knight got to Columbus the par
value had appreciated from ]
cent to 81 per share. This was
the figure he put before Messrs,
Hatcher and Taylor, and the
certificates showed this figure as
the par value. The understand
ing was that, being treasury
stock, the money realized on it
would go into development work
on the property, but Knight. il
is alleged, filed the orders,
which involved about $25, 900.
with his own personal stock, Of
which he owned about 300, ,00C
shares, and deposited the money
to his private account in this city
Out of this he purchased a fine
home on Brigham street, a S1OOC
team and coupe, hired hverymen
buffers, ETC., and cut such a dast
as would have made Pierpon
Morgan quiver with envy.
But Knight sold other stock
He succeeded in interesting
number of local monied men, in
cluding L. S. Hills of the Desere
National bank, it is said, and t.
the local people he sold certif
Gates from the treasury, usini
the money legitimately for tn,
development of the property. II
4 purchased machinery for a 10C
stamp mill and put in a stor
with a stock worth $4,000.
About month ago MessrS
6 Taylor and Hatcher came her
to inspect their holdings and a
a result of their investigatio
! discovered that, while Knigh
. had used considerable money fC
! the benefit of the property. th
! stock he sold to them was out c
: his own personal holdings an
J not a penny of it had been use
. on the property. At the sam
time they discovered that th
par value of the stock in the art
cles of incorporation was 1 cen
whereas the stock certificate
fixed it at 81.
The stockholders held a NEE
r ing as Quickly as possible an
il decided to force a settlemeu
Y The law firm of Stephens&Smit
!. was retained and everything b,
e longing to Knight was attaches
S He was threatened with crimin;
) prosecution if he did not NAL
d good the amount he had conver
is ed to his private use-S25. 90
D. The day following the matt
n was Strengthened up so that Il
e company did not lose cent.
g knight sold his house on Sout
le Temple, near Third East, to
J. J. Hagenbarth. for SIS, 900, al
Ia an adjoining lot for 81. 500. +
A. got rid of his swell team and We
1t icles and settled up to the sati
IS faction of the other shareholder
i'd then left hurriedly for the eaS
e His wife followed on the ne