Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-03-31
COURTS WILL AIR
MAJESTIC TROUBLES
Two Receivers Appointed Follow
ing Which Came Bankruptcy
Before Judge Marshall
H. ALTMAN AND R. R. TANNER
The Receivers = Former for Colorado,
Latter for Utah-Fierce Legal
Battle Predicted.

For the present, at least the plan to
consolidate the Majestic mines In Bea-
Yer county with the Monarch enterpris'
es is blocked, Notwithstanding the ia
yorable action taken by a majority OF
the shareholders at the meeting held in
New York last Monday The minority
holders, who have opposed the merger
and recently formulated what Is known
as a defense committee" VIII have
their inning and undertake TO air their
difficulties In the courts
Until yesterday the utmost secrecy
prevailed In their movements, but when
Il became known late in the day That a
Colorado Judge had appointed Col. Hen
ry Altman as receiver for the properties
now I'm such fearful financial distress,
and later that Judge Marloneaux, pre-
siding over the district court at Nephl,
had appointed X. r. Tanner OF Beaver
City, as receiver for this state, num-
Der OF the creditors who mad been smut
out by the creation Of receivers immedi-
ately sought relief in the Federal court
and proceedings in involuntary bank
ruptcy we're Instituted to resist the re-
ceyers, so the fight is on ana II VIII
be carried 10 a finish.
Col. Altman was appointed receiver
In Colorado by reason OF the Ma)estlc
company being n Colorado corporation
II was planned also that he was 10
make application to the district court
presided over by Judge MarloneauX TO
be clothed with similar authority IN
this state; but, II was discovered that
he was disqualified under the laws OF
the state. being a shareholder ana u
creditor OF the company. The next
move was TO seek the appointment OF
Major II. p. Myton to the position, put
Judge Marioneaux held that the receiV-
err must be resident OF the county IN
which the company's property IS stu
ated, accordingly Mr.. TANNER was
named. 4.
Roth receivers have given bonds 70
the amount of 5000 Col, Altman, the
Colorado receiver. left last night lot ,ne
south. and Is In conference touay WIN
Receiver Tanner OF Utah A..
The petition IN bankruptcy III .hc
Federal court was filed by the atlor-
news representing the following firms
and individuals for the amounts speci'
fed aggreeatng sll,7ll.S6: Utah
Mining Machinery & supply company
NilO. rs: Fairbanks, Morse & Co, w.
s5o OF. Salt Lake Hardware company
s275. and c, j. Caughey Of New YORK.
/ FORMER secretary OF the company, W.
| S7eO6. ,.A :,
The defense committee" which Is
responsible for the receivership pro-
| ceedIngs, was formed recently at Hart.
| ford. Conn, where much Of the STOCK OF
| the Majestic company Is owned ano
consists OF George w. Wilson, Charles
| A Pldcock, Harry A, Perkins, George
f. Kellogg and J,'L Mclean. =.
This committee, which purports u
represent 100000 shares out OF tota
of 800 900 shares OF the capital stoof
OF the company, favors q bono issue o
5000, 900 as a means of lifting the com
panys present Indebtedness.
The committee In It's recent circula
also scored the rating trust commit
teer for It's complete failure to fnanc
the company. as II promised to DO, DE
clarlng that It never raised doilar I
care for the development ana opllsa
tions OF the company.
While the fight may be a stubborn
one, It Ia relief to a good many I
know that the courts have the matte
In hand and that when the trouble
are settled, they will be effectively, an
the past wranglings, which have bee
source OF serious detrlment to IN
welfare of Beaver county, VIII be at a
end -
In the meantime the Monarch amal
gamatlon scheme must walt