The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-05-26
MINORITY WANTS
TO BE SHOWN
Committee Named to Probe
Into H0nerine Assess
ment.

The minority shareholders of the Homer
Inc Mining company, or as many Of them
as could be reached in time. held meet
ing yesterday to consider the recent ac-
ton of the directors in levying a a-cent
assessment, and Withholding the fact for
practically a week And that wasn't ali
that they met for, nor was the meeting
the last to be held. The minority see Wis
ions of what happened to the 'sman fry
of the Annie Laurie a while back, and
they don't propose to be hornswOggled in
the Honerine if they can help it, and they
believe they can.
Present at the meeting yesterday were
o. ]. Salisbury, w. S. Mccormick, Heber
NJ. Wells, a son of Peter Hack from Los
Angeles, DR.. H. N Mayo, DR.. H. D. Niles,
George ~ Black, George W. Ritter, Frank
J. WestcOtt. NJ. II. Lipman and others.
NJ. II. Walker. as a member of the COM
pany's board of directors, was denied ad-
mittanca. so there is apparently consider
able feeling over the manner in which the
cCmpany'S affairs have been handled.
After considerable discussion, during
which Mr.. Mccormick is reported to have
said that he felt satisfied the majority
was trying to do the right thing by the
minority a committee consisting of Wells,
MAYO. Ritter and Lipman was appointed
to look into matters and set a date for
the present week when an adjourned
meeting shall be held and such action ia
ken as the report of the committee and
the Judgment of the shareholders shall
then dictate.
1t is claimed by some of the stockholders
that the last annual meeting was held
without giving due notice to the share
holders: that a few of the big men in the
company met and said who the board
should be and then ordered the filing of
oaths of office. this fOrmality. it was
claimed being the first action of the kind
in three years. The committee named is
going to ask to see the books of the com
pany and it is also going to request per-
mission TO inspect the mine with the OBJ
iect of learning if it is really necessary
:, ~, 1s,t-- 60
cents a share which it is claimed will be
required to pay the debts of the corpora
ton. This committee Is also charged with
looking uD ways and means Of taking care
of the minority interests rights in any le-
cal procedure that may be deemed neces-
sary and 20 get a general understanding
Of what the game is. if any. from A to u.
The committee is going to try and find out
why assessments were not levied long
ago il they were necessary. so that the
burden would have been less. instead of
waiting until obligations aggregating $780,
Coz or moFe had been accumulated.
The stockholders seen after the meeting
were not contending that there might not
be reason for all that has been done, but
they complain that they have never been
advised of what the company represent
atives were doing; that no reports were
ever made to the stockholders in general
and that the scantest kind of courtesy
has been shown the minority all the time.
When it was reported week or more
ago that the company was going to assess,
George A. Baird, president of the COM
pany, stated that he was not positive
what would be done. If anything was
done that could be released for pubica-
ton he would let The Herald have the
news. The assessment was levied the
rext day and the statement was made bv
q representative of MIR. Baird that moth
ing could be said for publication. To a
query as to whether a levy had been
made. the reply came that there was moth
ing which could be released at that time.
Friday it was given out that the assess
mont had hean levied.