Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-03-28

.r,o noly west and quincy Mining
,oo have come to an agreement
' ,o1 W. II. Dickson last evs"'ns,
s'N in every way satisfactory ana
uT TO both. A committee COM
' ,o'sI Of Messrs. Keith Farrell ana IT,
~, Of ,be quincy and one composed OF
W" Mccormick, Bamberger ana
,...Iy for the DAILY West, have after
-. pamo weeks Of discussion, reached an
e.nont that we believe VIII be OF
70 20, bsenat not only TO all concerned
~, N the mining industry Of Utah
wa will by it, avoid litigation always
dlsoslrous, ard effect a settlement OF a
moat excellent nature
when asked for details of the settle
mont MFR. Dickson said that they would
M, ror the present be revealed How
srer he stated that the quincy property
under lhe agreement, will be purchased
outright by the DAILY West the latter
arranging for Il by Increasing us cap
ii stnck The merger VIII be effected
ni,bin a few months The first step
,,1 M teen In day or two when
vii vn NJ issued to the stockholders
of DAILY West Of Colorado ar,
y,oeipg FOR special meeting thlrty
Ssys hence. This, Mr. dickson eN-
yelned is required by the laws OF
Fomodo At the meeting the purchase
If me Quincy win be ratified ana the
,neraased Capitalization ordered.
President Farrell Of the quincy, when
ssen today. stated that an agreement
s.usfoetory TO an concerned had been
raschrd 1T will end litigation said
no land make one OF the greatest
propertes in the country"
Tbe Daly.W West has paid In dividends
aver 81 5OO0 600. and the Quincy over
u0OO0 President Farrell states that
NE Quincy surplus viii provide for sew
eral more dividends to It's stockholders'
The merging of these two great prop
critics puts at an end the possibility or
litigation involving millions OF dollars
For some time the DAILY West has been
Working No on vein Of wonderfully
r,eh ore.-the Quincy has been mining
h down an the same vein only 400 feet
n separ,tes the two workings and In this
n l00 ieet millions of dollars are said TO be
n awaiting extraction.
Roth companies have claimed that
y ore body and suit ON the question OF
"A spex has been threatening for over q
year The continuous rumbllng ar
fected DAILY West stock dlsastrously,
and after some meetings between rep
resentatIyes OF the two companies for
Ne purpose OF making some kind or
settlement a Joint survey was ordered
This finished, other meetings were held,
n tu no agreement was reached and the
n Dsly West, which had In the meantime
N become a Colorado corporation, filed
II suit against the quincy In the Federal
4 court
This was followed by a temporary
order restraining the Little Bell (con-
tUlei by the DAILY West), from MIN
ms in Quincy ground The suit brought
N the state court al Coalyille made pa
II West also a defendant and was fol-
lowed up by a suit for $4,000 900 against
Inc Daly West by Colonel Ferry, q
large owner in the quincy and former
lessee Of the property. Another
suit was brought by the Put
nam estate against the Quincy for
EOWMO Two restraining orders
were granted most difficult compiled
tons threatened and the tying up OF
both properties seer1ed inevitable, Da-
lv-West stock went below $500 a
share
Then a committee was appointed by
each company and negotiations for a