Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-07-03
TOUCHES THE UNITED VERDE
Suit for an Accounting by the Minority
Stockholders.
TO HAVE FULL INVESTIGATION
Turn in an Eight Years Legal Rattle
BY George Treadwen Against
the Magnate.

NEW YORK. July BY a dacis,or .,
Judge Amend. in special sessions ., 81,
supreme court. which was made n,hI,, 800.
.eruay. ex-senator William A. Clark w.,
account for all the dealings OF the I-,l,.,
'eroe copper Company. involving the sum
oi more than $3U.oOO.OOO. The decIs,,,
.oiies AFTER eight years OF litigation ma
.he result or suit brought by Georpe A
ieao"ei. TOT the minority stockholdars
t>ecoru'hg TO Charles w. Demond cam
sci LOT Mr.. Treadweil. the Investigates,
WHICH the court orders will show ,b.,
senator clark now derives an incoma a,
s.''"V."o year from United Verde much
OF which. Mr.. Demond says. shouId hava
been turned over to Treadweu
luigi amend. In his ruling. saws thar tba
sac VI me property OF the United vard.
Upper company to a reorganizat,o, cow.
n'ittee Tor $5OO0OO although the n-on.r,..
Is valued at s90,OOOOO was u,.aaI ,
ma the property shall revert to the or,,,,
Treado mioloers This sale, according to
tr' was made for the purnose ~
t a.roee.hs MIN out. for the reason H., ~ ~.
80 shares instead of being rated ar exc,
,, snare which he says Is their real ya IT,
NC valued at only about So a share
Ireadwell Allowed to Probe.
'uase amend Furthermore holds that nv
9.na'or clark shall permit Treadweu IN
make thorough investigation OF an ,ho
ohiteo Verde property. from which h. ~,
reyes he has hitherto been barred hv c..
a"u shaii De permitted to 60 through m.
an ans $50 oi the corporation. as well as maka
Oil examination of the mines 90 ""o
-, Elk Ex-senator Clark must now nah, .,-,,
al inc mysterious methods Inv Wbiph h
Hs conducted the business OF Initial ".
ohce 1858. when he first came into ron,rnI
night. Ir' Deinond last
.,o - - most difficult to put any fe,rss .,
20 a,iount involved" said Mr.. Demond
biS sne reason that the Clark regime ha.
ex-senator's income now 10 soI CO ~ the
year from United Verde. Inc total 80 d
.ast twenty years would make x2., o.,a . .s,o
conservative estimate" v''V'ooV
May Have to Return Millions
o" much does Mr. TreadweII exn.o.
VIII be compelled to give IN sbou,d
invesugation prove his profits illegal
90 - anesed? was asked VIII he s,if,e,
tune? iiipair MS Tor
mere Is no telling how much money ,ha
ex-senator may have to turn over 70 m,,
dne' was the reply But II Justice be
up into the millions" "'' 'uh
'ccordlng to testimony adduced dur,n1
me triaI there Is 500 900 900 of ora In ~.
Am verde mine simply waiting for the
erlii' ana beyond this golden vein ibera Has
lar more wealth of incaIcuIable worth
Snouid the investigation which =, Jndra
Anend orders find that Tread w,eIrA nrofts
are not as large as they should be-. he Mill
to be mined ''"e SUI
according to William c. Allaire. WIN tes-
I,heu LOT the complainant before JustIc.
oeach. surveyor using a diamond YjrtII
ana starting at central point in the corr
panys holding had found conner ora -,
wonderfully pure character within a rad,v.
OF iCoO feet. or a little less than two miles
In all directions W. "'i'eS'
Rich in Gold and Silver.
Furthermore the plaintiff assart.d a..
ore Is also rich In gold and silver. from ths
mining of which there is said tn he aI,,os,
unlimited wealth. even were the copper.
with which it is most heavily Iaden eIi,nj.
mated According to testimony set forth
by Treadwell. the present ore rms coz
ounces of silver to the ton. and for each
ton of raw ore there is extracted 81 600
worth of gold. or about 81 a pound
When Senator Clark took the stand ba
testified that he had bought the stock of
the United Verde when It was cheap and
considered Of little account. He described
the inadequate machinery that he found
above and below ground. and that II was
not until he had obtained control. and been
thus enabled to make improvements that
the mine began to pour out the millions.
He said he never hesitated to advance
money after the rare value of the property
became evident to him. He admitted that
he did not wait to call the board of drec-
tors together before obtaining authority to
buy adjacent properties. but went ahead
and secured them, whereupon he turned
them over to the company for what he pad
for them.