New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-29
ANOTHER LOGAN SUIT.
Fiied an West Virginia in Connection
With Mining Deals.

further questioning of the integrity of the
motives of the late General Walter 8 LOGAN IN
the manipulation of the stock of mining COM
PdiiteS "hich ne was instrumental in forming is
III d SUIT the complaint in which was filed
'uit court of Ohio County West Vir-
''' q H"oi' 'i'he ago Miss Myra B. Martin.
N "'' "'S"clated with Mr.. Logan in the vari-
GUS INNING companies which he promoted and
NV "9 eNecurlX Of his estate is one of the
uelehdeh's mentioned in the comDlaipt in tho
SUIT brought in the Supreme Court of New, York
~ Iohh ). Gibbons, is also named as a defendant
III me west Virginia suit both as an individual
and as secretary and treasurer Of tho Cona+a
Nlin1hs Company and the Copete Consolidated
Copper Company
1he institution OF the action in the West Vir-
GINA courts was made known yesterday. when
'"'i'is hhoWles, lawyer of No % Broad
street called at the office of Williams & Ray
'"U' "''orheys Tor Mr. Gibbons. and compared
notes as to what they knew OF the organization
anu management of the various mining com
pailes IN which Miss Martin and General Logan
were interested. Mr.. Knowles represents Epes
randolph general manager for the Southern Pa
cine In New Mexico and Arizona Attracted nv
statement made In The Copper Hand Book"
published at Houghton Mich on September X
last, Randolph communicated with some Of his
IeHoW stockholders in the Copete Mining Com
pahN' hVe thousand shares of whose stock he
OWLS with the result that investigation OF
inc dhafS OF that company and OF the Copete
consolidated Copper Company, organized 10 su-
persede 1t. was at once undertaken The stata-
iheht which aroused the suspicious OF Mr. Ran
u"llh ana ms associates appeared in the hand
DOCK under the heading "Copete Mining Conn
papy. and read follows: The management
mas been guilty Of many misrepresentation in
peddlinS the stock of this company and while
'He property Is considered valuable the manage
iiieHt IS regarded with we'll founded SUSPICION
vi January last Mr.. Randolph. with William
l. HoFheF' NJ o. Bcknell and Ct. II. Hirschfeld
al stockholders in the Copete Mining Companv
and Russell B. Budd. H. d. Gorren and ! War
rem Greene. who hold shares OF the Copete Con-
sohdated Copper Company. sent out circular
10 the stockholders OF the two companies giving
the results Of their investigation
These showed. II was said that there had been
gross acknowledgement If nothing worse. in the
manipulation Of the stock OF the Copete Mining
company which had been organized to take over
ana develop the mines of the Melczer Mining
company in Sonora. Mexico, as also of the stock
OF the Copete Consolidated Copper Company
when was formed with the ostensible purpose OF
giving BOOST TO the mining operations which
had ceased through lack OF working capital on
fepruary L another circular was sent out by the
same stockholders asking for subscriptions To
pay the expenses of the legal action which IL had
been decided to bring to sue for an accounting
OF SoopUco paid to General Logan and Miss
Martin and to compel restitution OF the shares
OF the companies to their respective treasures.
Large holdings OF these shares II was added
mad been improperly issued to individuals who
mad never paid for them. and attention was
drawn TO the fact that through the mismanage-
ment OF those in control OF the stock its market
value had dwindled from SIS TO 10 cents a share.
The complaint in the suit filed IN the Office
or the West Virginia court May 10 Besides
Russell B. Budd and William l. Horner, there
are named as plaintiffs in the action "all other
stockholders of the Copete Mining Company who
contribute TO the expenses Of this suit" Be
sides the MelcZer Mining Company, the Copete
Mining Company and the Copete Consolidated
Mining Company. Hollister Logan, OF Cen
eral Logan, and Miss Martin, executor and
executrtX Of his estate, named defendants,
as IS also Miss Martin In her capacity secTe-
tary and treasurer OF the two Copete companies.
The answer TO the complaint is returnable in
June, and commission for the taking OF testi-
mony in this city June 10 has been issued by
the West Virginia court.
Failure to ask the companies themselves TO
bring suit for an accounting OF the moneys
turned over to the management and the wrong
ful distribution of the shares of capital stock is
explained by the plaintiffs the ground that
the companies are under the control OF the very
persons whose acts are the cause OF bringing
the suit
Walter b. Raymond, Of Williams & Raymond |
after having long conference with Mr.. Knowles
yeTs had agreed to be present when both suits |
come UP for trial. and to aid the other far
rs possible in compelling the executors OF Cen
eral Logan to make an accounting Of the
Iious properties over which litigation has been
instituted.
Miss Martin smingIy refused yesterday to
talk about either of the suits in which she is /
named defendant. She minated however |
and that II would be In the nature OF complete J
Tefutation OF the statements made.