The Elk Mountain pilot., 1903-10-06
stratton's independence.

been made the football of speculafors,
experts promoters. and even. the
mine salter. it is charged, has been
''monkeying" with the sampless says
the LeadvilIe Herald-Democrat. Even
the reputation of the late w. S. STRAIT
ton has not remained unsmirched in
the campaign to secure some of the
millions developed in this wonderful
piece Of ground. 1t Ia probable that
the English stockholders paid more for
the mine than it was actually worth.
and now that these people have learned
this unpleasant truth. they seek to get
even by bringing suit against the STRAIT
ton estate and make broad accusation
of sailing That the British investors
were bunkoed there is probably little
doubt; but the English promoters, and
not Mr.. Stratton, are responsible for
this. However, the whole matter will
no doubt be cleared up when the ore
sailing case gets into the courts.
Considerable light is thrown on the
case by the puA Alication of the bill OF
particulars to the complaint OF the
company 1t appears from this that
between May %, 1899. and August /,
1903, the plaintiff company received
from sale of ore. $7,532, S07.1. Adding
so, ,666, 76S 04, the cost of treating and
smelling. and we get gross produc-
ton of $40, ,19S.575. rs. The cost OF min
ing and hoisting is placed at -$3.103.-
S9S go 1t is charged that the vendor
represented nearly $7.OO0,000 in sight
at tho time of the sale. making the
mine reasonably worth $4,000 900. but
in truth said property had but $4,000
900 in sight and was not worth more
than $4,000. .000." Hence, the 100000
damages asked by Stratton's lndepend-
ence Ltd The Venture Corporation
wants s., ,O40, 900 based upon its losses
under its special contract with the late
w S. Stratton whereby that corpora
ton purchased 400 900 shares of his
stock. fL
The admitted fact that the mine pro-
duced more than the engineer claimed
to be in sight is accounted for by the
allegation that the production did not
come entirely from the ore in sight at
the time of the examination but large
ly from new development done since,
and from ore bodies not known to ex-
ist at the time of the examination
Other interesting statistics are
available. The transfer of the mine
was made May %, 1899. Mr., Richards
report showed ore in sight to the
amount of II. 1856. ZIG ($6.70O,O00)- John
Hays Hammond's report was made in
October 1900. He found 100000 in
eight at that time: Thomas Tonge in
an article to be referred to later
states that since that time and up to
July 81, 1903. the mine has produced
gross $5,796, $50 21. less cost Of freight
and treatment. S1,s9S. 1870. leaving
. 4 -
Of mining 81. .402. .5S1 81. leaving net
profit S1.495 sol .0S-and the mine is
still producing.
The complaint alleges that the late
W. S. Stratton knew that the officers,
agents and directors. of the company
were ignorant of the actual value oi
the property, and they relied upon his
Representations. and believed him; that
by reason OF the method in which the
property was mined before its convey
ance 1t was more than a year before
the plaintiff company had any suspi-
cion or was able to ascertain. that said
property was not worth $10.0O0,00O, etc.
A further reference is made to the fact
that w. S. Stratton had caused the
same to be examined and an estimate
to be made of it's value"
The most sensational charges are
by Thomas Tonge. which appears in
British mining journal. These are
summed up as follows:
"Q) The concealing of number of
large 'underhand .stopes, which had
been filled with waste and were repre-
scented as being solid ore.
"(2) The taking of samples from
rich streaks of ore only a few inches
in width and representing in the state
ment of measurements that such ore
bodies were greater or less number of
.eef in width.
"(3) The emptying of rich sacks of
samples that were taken in barren
places and afterwards filing them
with selected ore from adjoining places
or elsewhere.
"4) The use of half ton of ore
nearly all sylvanite. powdered fine,
which is alleged to have been sprinkled
on the top OF the samples in the small
sample sacks before they were assayed
"t5) The Introduction into the emp
.ty sample sacks, which were taken be-
low to receive the, samples. of pulver-
lied sylvanite and chloride of gold.
-"(6) The breaking open of the
sealed full sample sacks and the taml
pering with the samples therein where
the aforementioned methods could
not be utilized."
The charge of sailing here made,
says the Herald-Democrat. seems very
specific, and it will be the effort of the
defendants at least to clear the skirts.
of the deceased millionaire form this
charge One thing at least is evident:
that after the company passed into |
English hands, the stock was manipu |
lated, and sent up and down by all |
kinds of reports from experts How
ever, as the Mining Record remarks, |
"the old mine is still doing business at
the old stand" The ores who will suf-
fer will be the ones who paid extrava-
giant prices for the stock. They are
hardly likely to realize on their in