Bisbee daily review., 1907-07-14
VERDE SALE E SET
 ASIDE
Suit of Minority Stockholders Successful After Eight Years Of Litigation Against Clark and Associates.

By the decision of Judge Amend, in special sessions of tEe .Ipreme court at New York, ex-senator Will liam A. Clark must account for all the dealings of the United Verde Cop per company. involving the sum Of mere than s300,GO0, ,000 The decision comes after eight years of litigation, as the result of a suit brought by George A. TreadweT, for the minority stockholders.
 According to Charles W. Demond, counsel for Treadwell, the investiga- tion which the New York court orders will show that Senator Clark now de- rives an income of S250 900, GOO a year from the United Verde, much of which the New York court orders will show that Senator Clark now de | riyes an income of s25.00O,000 a year from the United Verde, much of
 which, Demond says. should have been turned over to Treadwell.
 Judge Amend. in his ruling, says | that the sale of the property of the United Verde Copper company to a
 reorganization committee for s5O0,0O0
 although the property is valued at | S90 ,000 900. was illegal, and that the
 property shall revert to the original
 stockholders. This sale. according to l Treadwell was made for the purpose
 of freezing him out, for the reason | that his 620 shares, instead of being
 rated at $500 a share, which he says i is uheir real value, would be valued
 at only about 8 a share
 Judge Amend furthermore holds
 that ex-Senator Clark shall permst TreadweH to make a thorough inves tigation of all the United Verde prop
 erty, from which he alleges he has hitherto been barred by Clark. and shall be permitted to go through the
 books of the corporation, as well as to make an examination of the mines ] 'Ex-Senator Clark must now make public all the mysterious methods by which he has conducted the business
 of the United Verde since 1888, wheI
 he first came into control of the com lpany," says DemOnd,
 Tt is most difficult to put any fig ures on the amount involved,' con tinues DemoHd, flor the reason that the Clark regime has hid the true
 facts from the public. If the ex-sen
 ator's income now is S25, 5,00O,O00 ( year from United Verde, the total fol
 the last twenty years would make
 $500 coo, ,0OO a conservative estimate.
 How much does Treadwell eXpec Clark will be compelled to give ul
 should this investigation prove his profits illegal as is alleged?" wa!
 asked "Will he suffer losses whicl !, will materially impair his fortune?' There is no telling how mucl . money the ex-senator may have. t turn over to my client" was the re ply. But if justice be done, I an most positive that it will run int 2 the millions"
 ? According to testimony adducet , during the trial there is S1O0, ,00 ? of ore in the United Verde mine sin ply waiting for the drill and beyon this golden vein there lies far nor [ wealth of incalculable worth.
 r According to William G. Allaire who testifies for the complainant be fore Justice Beach, a surveyor usin diamond drill and starting at a cer tral point in the company's holdin : had found copper ore Of wonderfull ! pure character within radius of 10 :, GOO feet, or a little less than tw ! miles. in all directions
 1. Furthermore, the plaintiff asserted 2 the ore is also rich in gold and si 2 yer. According to testimony b : TTeadwell. the present ore runs 60 ' ounces of silver to the ton, and fo , each ton of raw ore there is extracte 2 $2080 worth of gold, or about $1 T pound
 ,- When ex-Senator Clark took tn Il stand he testified that he had bougf l. the stock of the United Verde whe . Continued on Page Twelve.)