Bisbee daily review., 1906-02-27
THE COPPER HILL co.
An Attempt to Defraud the Stock holders Fsiied--lnterestina
 Facts.


 The story that comes out in con nection with the annual meeting of stockholders of the Arizona Copper Hill Mining Company, held February 20 at the property in Pinal county, is one that goes to show that it is not only the great trust magnates who seek to attain their ends by ways that are dark and devious, but often small imitators attempt to follow the lead of the Rockefellers, Morgans, ct al, in their buccaneering methods,
 In this Copper Hill case, it seems the board of directors. at the com pany's office in Denver last May. decid- ed to offer for sale an issue of bonds amounting to s25.0o0. and sold s7,600 worth of them. The directors all in. vested in bonds and sold the rest to their friends-for reasons which will appear hereafter The money thus raised was used mostly to pay of out standing indebtedness Of the con- pany, which was well and proper.
 On September 1 the quarterly inter- est on the bonds was paid. On De- cember 1 the interest was not paid, and the same day an attorney for the bondholders-the same being the directors and their friends-notified the company through its directors that the bonds were due and must be paid or he would foreclose and sell the property within thirty days after the second of January, 1906, After foreclosure proceedings were begun this same attorney notified certain of the stockholders whose names were furnished by the company's officers (only a small portion of the stock holders being thus notified) that they could come into a "pooI' by putting up small amount of money, and their stock would be fully protected when the new company was formed This proceeding was calculated to do away with more than four-fifths of the stock of the company, held by honest and innocent purchasers.
 At this iunctdre, two large stock holders in Colorado, who had kept tab on the proceedings, secured a court injunction stopping the propcs- ed foreclosure sale, and at the same time issued a call for the annual meeting of stockholders. which was held Tuesday in this Territory by three stockholders holding many prox- ies. As was announced in this paper recently a board of directors was then elected and officers were chosen for the ensuing year. The old officers of the company had refused to call an annual meeting as required by the bylaws. considering it useless as a new company would soon have con trol of the property and most of the stockholders would not be 'in it.''
 The case will be vigorously fought in the Colorado courts, as the stock holders who were to be frozen out are on the warpath now, and they purpose also to find out incidentally just how the large sums of money handled by the officers during several years past have been spent. As all the business of the company, the stockholders and directors meetings, have heretofore been conducted in Colorado, an interesting question will come up in the court proceedings as to how much or how little of inc company's business was legally done. It is expected that the issue of bonds will be declared illegal and void.
 The stockholders are to be congrat- ulated upon their success in prevent ing the foreclosure and sale of prop erty that is probably worth hundreds of thousands of dollars for matter of less than ten thousand dollars.