The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-24
NOTED CAPITALISTS
ARE DEFENDANTS
IN SALTS SUIT
Former Owners of Montana
Mines Sue E. L. and R. F.
Hersey and Jacob Bean to
Recover Sum Said to be Due.

Suit for $44,175.20 was yesterday
commenced in the district court against
Edward L. and Roscoe f. Hersey, OF 81.
Paul. and Jacob Bean, Of Saltwater,
The plaintiffs in the case are Annie
L. Briscoe and James E. Sites, Mon
tana people, who seek to recover the
balance alleged to be due from the sale
of a group of rich mines in Jefferson
county, Montana, the sale having peen
made twelve years ago.
Jacob Bean is a member OF the her
sey & Bean Lumber company, OF Still
water. and is reputed to be very
wealthy. The Herseys are well known
ST. Paul capitalists.
According to the story of the plain
tiffs, on Jan. %, 1890, together with
John o. Briscoe and the Minah Con-
solidated Mining company, corpora
ton existing under the laws of Mon
tana. they entered into an agreement
for the sale to the Minah Consolidated
Mining company Nimited), British
corporation, of a group of mines In
Jefferson county, Mont, including the
Homestake, the Annie B, the Hlllsdale,
the Iron Dollar, the Gold Cross and the
Iowa quartz lode mining claims, Tor
the agreed price of 6 100000, or nearly
a million and a quarter dollars. VI
this amount $100,000 was to be paid in
the property, and $425,000 was to be
paid by the issuance and delivery to
the grantors of fully paid UP capital
stock in the new company, the stock
to be of par value.
Claim Sum Was Not Paid.
Out of the proceeds of the sale of
ores extracted from the mines trans
ferred there was to be deposited in the
Second National bank, of Helena,
Mont, the sum of $4S, 400, and the bal
ance of the purchase price to be paid
by the issuance to the grantors of
shares of stock in the new company.
The deal was made and on March Z,
1890, the first and cash payment of
100000 was made.
The. purchasers took charge of the
mines and. Worked them until Aug. is,
1890, sdep6sftfng in the bank to the
credit of the ,grantarse,during that time.
$4,224.80. This sum, the plaintiffs say
is al that has been deposited to their
credit and, the suit commenced yester-
day is, for the purpose of recovering the
balance of '$44, 1920, alleged to be due
The complaint charges that on Aug.
10, 1890, the defendants ceased to work
the mines, and in violation of the
agreement, on March 80, 1892, pretend
ed to sell and convey the property to
EACOCI1Chf ISOWCo OWL, WIZ Oll <aPl II
20, 1892, leased the property to the de-
PENDANTS in. this action.
sAIIege Bad Faith in Sale.
It is charged that the Herseys and
Bean took possession of the mines and
continued to work them from May 30,
1892, until July 81 1897, during which
time they took out ores valued at $685.
600. The defendants refuse to pay over
to the plaintiffs the balance due on the
sale of the mines, and the court is now
asked to set aside the sale of the prop
erty to Scott, who, it is alleged, knew
of the agreement between the plain
tiffS and the Minah Consolidated Min
ing company at the time he took
possession of the property. 1t is also
alleged that the defendants also knew
of this agreement and should therefore
be compelled to pay the amount al
legged to be due, with interest from July
81, 1897
Annie L. Briscoe and James E.
Sites become the plaintiffs in the case
because of their having, previous to the
beginning of the suit, purchased all Of
the claims, rights and titles of John O.
Briscoe and the Minah Consolidated
Mining company, of Montana
Sheriff Justus served the Herseys
with notice of the suit yesterday, and
service papers for Mr.. Bean were sent
to Saltwater for service. The case
will come on for hearing at the next
term of the district court