The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1904-12-30
.NEHALEM COAL
' -- M2
Stormy Meeting of Stock
holders Yesterday.
STATEMENT Is GIVEN
Self Constituted Board Of Direc.
tors Agrees to Settle Bust.
ness Of Company.
MEETING A TURBULENT ONE.
An Explanation Of How $4,000 Was
Paid for Coal Lands and Charged
Up to the Company for $4,000,
Giving Promoters Control.

On July 20, 1901, there was MED IN
the county clerks ONCE OF Clatsop
county. articles OF incorporation Of the
Nehalem Coal Company. with w. j..
Cook. ]. +. Hamilton. James L. Foy
and w. II. Copeland as incorporators
The object Of the corporation was to
purchase and acquire lands. ostensibly
for mining for coal. The capital stock
OF the company was si50.000. divided
into 1900 shares OF the par value of
si00 each. Prior to the ineorporatiou
of the company three persons. now
members OF the company. put up $500
each for the purpose OF securing an OPP
tion on some coal lands owned by Aug.
c. Kinney. and for which they agreed
to pay $4,000. The price paid for the
lands was s22.5O per acre. The lands
were purchased and decided to Mrs. NJ.
. Copeland. Immediately afterward a
meeting was held In the Office OF C.
r. Thomson. at which the three stock
holders prehent weer elected directors
The directors Immediately purchased
the lands OF Mrs. Copeland for the sum
of $4,000, and they were charged on
the books of the company against the
corporation.
II became necessary to secure sub
scriptlons to the capital stock Of the
company. NJ. s. Copeland. w. J. Cook
and r. V. Jones were elected direct
ors. W. II. Copeland was elected pres
ident and w. J. Cook. secretary. The
work Of securing subscriptions to the
capital stock was entrusted to Mr..
Cook. who visited Chinook and secured
a large number of subscriptions. A
canvass was made Of Astoria, the Me-
halem and surrounding towns. Three
widow ladies of Astoria were persuad-
ed to take 6 shares each and young
lady bookkeeper employed at Foard &
Stokes took shares. Mr.. Wills, a
music teacher, sold land claim and
invested nearly all OF the money in the
company. In this way, 1t Is claimed
that about $4,000 was realized from
the sale Of the stock There were 1880
shares In all subscribed, of which NJ
s. Copeland held $50 shares, the pur-
chase price of the coal lands, giving |
the self-constltuted board of directors
a controlling interest in the company.
This was In July and August, 1901.
Some developments were made In the
coal mines, which were situated in the
Nehalem, or alleged to have been made.
and nothing more was heard of the
matter The stockholders who had
been importuned to invest their saw
ngs In the company became suspicious
that all was not on the square, and sew
eral efforts were made to secure a
meeting Of the stockholders an secure
4 report of the financial condition of
the receipts and disbursements All
efforts failed, II being alleged that Mr..
Cook was in Nicaragua and nothing
could be done until he returned. The
matter dragged along for three years,
Ind threats were made by some OF
he stockholders to bring criminal pro-
unless the matter was set
led in some way. BY these threats the
,fforts to secure meeting were sue
,essful, and 1t was called for yester-
lay at Hanthorn's hall.
A large delegation from Chinook was
present, as well as number from AS
oria and different sections Of the coun-
y, who claimed to have been roped in.
The meeting was a stormy one. c.
Robitsch of Nehalem, who claims to
iave been buncoed out of 80 acres Of
and by one Of the promoters, shook
his fist in the faces of two Of the di-