New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-12
BEARING GREENE STOCKS.
History of Tustin ATTACKS on Gold
and Copper Companies.

Tustins attacks principally delivered against
the Greene Consolidated Gold Company, of which
Colonel w. 9. Greene is president as he is of the
longer established Greene Consolidated Copper
Company, which from time to time during several
years similarly assailed.
The first made by the Tustin party was the
production in June of sworn report from one
James Q. Glover. In this report it was said that
the gold company's plants, machinery buildings,
etc, could not have cost more than $4,000 and
that the amount of gold produced to only
about $500. Glover went to say that he had read
the company's prospectus of July o. 1894 in which
it declared that over $1,1000OO had been spent
in purchasing the properties Of the company and
prospecting and developing Them and had read also
Colonel Grecnes circular letter of May "a. 1906 in
which it was said that the May cleanup was 1885, 900
lie added that the Companys plant not
the San Domingo River, as said in the COmpany's
prospectus. but tributary OF that stream. six
miles from the main bed that the only evidence OF
development work having been done a we'll
which had been sunk ninety feet, and that
steam shovels had been installed the plant.
On July 10 the Tustin party made public joint
report by James Lindsey. of Portland. Ore. and
". f. Mitchell of this city. experimenting Glow
er's report The Lindsey-MitcheH report said in
part:
claimed by the Greene Consolidated Gold Company
twice and there is no evidence whatever of any
ti"n Of the La RrisC fiic6 and TIE sn9o JUG nc
mingo Canyon, where the plant is located.
We estimate that from 5000 cubic yards of gravel
sluiCed by the Greene Consolidated Gold Company
up to date there has been recovered not to exceed
81 600. We. therefore, beg to advise that this
property is so low in value that II does not war
rant any further operation: that all expenses
should he off the property shut down and the
material sold for what it will bring
At about the time Of the appearance OF the
Glover report Tustin resigned treasurer and
director of the gold company, and for several
upon the company's stock the principal ''argu-
port On July 10 Colonel Greene began action
in the Supreme Court TO set aside an agreement
with Tustin and recover 100000 In stocks and
cash loans advanced to Tusttn In the last two
three
In his complaint Greene said that Tustin had
broken the agreement. which related to the carry
ing by the latter of 5000 shares or Greene copper
stock for certain period, and mad caused to be
circulated false and sander0us reports. result
OF which the stock of the copper company had
been depressed The complaint also contained
tabulated statement of cash loans, aggregating
about S5S.00o alleged to have been made by Colonel
Greene to Mr.. Tustin
In a statement to the cOmpanys stockholders at
the time. Colonel Greene said OF Tustin; 1T is my
belief that he has simply been a tool in the hands
of strong financial interests higher up who have
used him for selfish purposes thereby causing the
sale of many thousands OF shares OF Greene Con
soiidated Copper and Greene Cousphdated Gold, In
the hope that prices would be broken. and who
now. having accomplish Al The purpose, have de-
serted him.