Arizona republican., 1904-12-23
THE BLACK WARRIOR
Application for Receiver
 ship Heard
Judge Kent Has the Matter Under Ad- visement but Urges an AmiCable Settlement.

The application Of Col James A. Fleming for a receiver for the Black Warrior Copper company, Amalga- mated was heard yesterday by Judge Kent This application had been made before Judge Davis while he was hold ing court at Globe for Judge Kent and the papers were transferred here. There was a brief hearing in the morning be- fore Judge Kent in chambers in which the side of the company was represent ed by George J. Stoneman of Globe but Judge Baker who appears for Col. Fleming had not yet come. The mat ter was resumed in the afternoon and was continued until after five o'clock in the evening when Judge Kent said that the matter was of so great import ance that he would not decide it be- fore next week. He hoped that in the meantime the parties to the action would find some other way out of the difficulty.
 The papers in the case consisted of the bill, the answer, and then counter replies without number One of them had been put in by Mr. Stoneman yes terday morning. It was decided how ever that there must be a limit to the number of the counter replies and af- fldavits as well as a time fixed for their filing, otherwise the case would become interminable.
 The application for the receivership in which it is also asked that the di- rectors of the company be enjoined from holding the annual election al- leges among other things that they are trying to wreck the property for the purpose or buying it in; that they are neglecting the assessment work on many of the claims constituting the Black Warrior property with the pur- pose of relocating them. It is charged that certain circulars calculated to destroy the reputation of the property have been issued by the directors and this is taken as evidence of the wreck l ing operation. The directors and of ficers it is mentioned have recently given a note for $2O,OO to the Trade men's Trust company, that they owe the Phoenix National Bank S14.OO0 on a Judgment and that they have incurred an improper obligation in favor of J. M. Jamison to the amount of $1,10O. It is further alleged that the various ere ditors of the company are threatening foreclosure and that the officers and directors are making no effort to pre- vent it but are rather inviting it.
 It was also stated that the interest of the applicant in the company con- sisted of 10000 shares of the 200. 900. 1 4letl IL WAS lilTedlenGd WlIn tion; that under the mismanagement of the present directors within less than year the indebtedness of the company had increased from $50, 900 to $55,000 and that operations had been suspended.
 Judge Baker later speaking of the purposes of the company said that they were trying to kill and bury the Ari- zona corporation to resurrect it in New Jersey.
 Among the papers were two exhibits which cut an important figure in the Ihearing. They are two reports on the property. One of them was made by Dr. Ricketts and the other by MT. Gros- dale of the Engineering and Mining Journal. The first report was made in favor of the company and the other on the side of the applicant. They are of a widely varying character and do not seem to relate to the same property The attorney for the applicant said that the language of the Rickett report is almost libelous and is damaging to the mine.
 MT. Stoneman said of the Grosdale report that it is at variance with the opinion of all who had inspected the property. It stated among other things that there were great ore bodies of great richness and which could be t
 handled at the rate of 150 tons a day.
 MT. Stoneman said that he had ascer- tained that it would take 100000 gal Ions of water daily for the handling of such a volume of ore and that there were only 5000 gallons available daily. 1 What good he asked could a receiver do in these circumstances. The day of
 miracles was over and no receiver could like Moses smite the surrounding rocks and cause water to gusA forth.
 The greater part of the day was taken up in the consideration of these reports and Col. Fleming said that if he were protected in his investment he would guarantee to raise $50,0O0 for the taking out of the ore described in the GrosdaIe report and which he knew 1 to be blocked out. There were 50,000 tons of this ore most of it ten per cent and it would net the company $5 a ton