Bisbee daily review., 1905-10-11

of option for the purchase of the en
 tire capital stock of the Ensenada
 Mining O., $. A. for his own personal
 interest; and your petitioners are con
 Vinced ana believe that the said two
 positions of the sad B. r. Graham as
 President and representative of the
 Ensenada Mining Co.,, $. A. should not
 be permitted to proceed in the name
 of said company and its shareholders
 to secure the cancellation Of the con-
 tract with the Tigre Mining Co., s. A.
 for payment of the balance of the cred
 it due from sad company. amounting
 to $24O,000.O0 in gold of the United States of America with interest there on and thereby and by such cancella-
 ton, in effect. to substitute himself as the probable optional debtor of your petitioners and the other bene- ficiaries above named, by virtue of his contracts of option for the pur- chase of the entire capital stock of the said Ensenada Mining Co.,, s. A. And your petitioners further say that they nave been informed and believe that the said B. F. Graham, in order to avoid personal liability for his said acts and 10 fix the responsibility and liability for the same upon the Ensen- ada Mining Co.,, $. A. and its share holders, caused the Board of Directors of the Eensenada Mining Co.,, s. A. composed of the said B. F. Graham, his attorney, D. A. Richardson, nomi- nal holders of one share each in said company, and Patterson Sprigg. hold CT of one share and Attorney of the Estate of F.. M. Sturges, aforesaid, together with James E. Suits and Har- " H. Stine, aforesaid, on the 17th day of September of the current year. and without the knowledge and consent of your petitioners Gnd well knowing their objections thereto to formally ratify and approve ali of the said acts of the said B. F. Graham aforesaid at meeting of the Board of Directors of said Ensenada Mining Co.,, s. A. The effect of said act being to make the said Ensenada Mining Co.,, s. A. the mere instrument to promote and make effective the contracts of option held by the said B. F. Graham for the purchase of the stock of said company and to enable him, B. F. Graham, to secure for his own use and benefit, the "Tigre Suertudo' and "Combiua- cion' mnes by paying the balance due on the purchase price thereof or any other means. That said Ensenada Mining Co.,, $. A. thereby made liable for all the expenses and cost of litiga- tion. and costs and expenses in operat- ing sad mines in his possession, as
 well a for ;v, T against the said TIgre Mining Co. should fail. That the said proceed ings are entirely detrimental to and against the interests of said Ensenada Mining Co.,, s. A. and its stockholders and for the sole profit, use and benefit of the sid B. r. Graham, as the holder of the said contracts of option for the purchase of the entire capital stock.
 Your petitioners further state that they are advised and informed that ali the money expended on sad mines and in the litigation arising from his talk ing possession of said mines amounting to about $50 100000 in gold coin of the United States, was furnished and pro vided by the said B. F. Graham vol and upon his own motions, since the Ensenada Mining O., s. A. had no money or funds in it's treasury with which to pay such expenses and as a result thereof the sad Ensenada Mining Co.,, s. A. has been and is be- coming greatly indebted to the said B. F. Graham for the costs and ex- penses in promoting the enterprise of the said B. F. Graham under said con- tract of option to purchase the shares of the entire capital stock of said and to obtain for himself the ownership and possession of said mines. all of which endangers the in terets and reduces the values of the holdings of your petitioners as share holders in said company.
 Your petitioners continuing say that they do hereby formally and expressly and repudiate each and all of the acts of said B. F. Graham and the Board of Directors of the Ensenada Mining O., s. A. and that they believe that said acts were and are entirely Illegal, void and for which the said officials are personally l and for which no liability can attach to the said Ensenada Min ing C., s. A. and that the official acts of the said B. F. Graham and the said | Board of Directors are void and of no effect, because done in furtherance of l the personal interests of the said B. F. | Graham against the interests of the | said Ensenada Mining Co.,, s. A.. | and the stockholders thereof That the said B. F. Graham had no legal l right or authority whatever to take | possession of the said mines ''Tigre | Suertudo" and Combination" without | the authority or intervention of the ! Mexican Courts and that he is now un- lawfully holding the said mines.
 Your petitioners further say that as result of the wrongful acts of the l said B. F. Graham, great damage has been done to your petitioners and their l rights and interests as shareholders 1 in the Ensenada Mining Co, s. A. l have been and are being greatly dam | aged, endangered and prejudiced.
 Your petitioners therefore, with | upon Articles 19S and 199 ! of the Code of Commerce. apply to you |