The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-10-18
PROBING AFFAIRS
OF MISSING MAN
Colorado Shares Allotted to
Success Shareholders
Not Accounted For.
WILLIAMS HAS GONE EAST
LEAVES TETRo ACCOUNTS ALSO
SOMEWHAT INVOLVED.

Ernest Williams. the missing manufac-
turers' agent and mining man. did not
go to Idaho. as his friends supposed. but
is now somewhere in the east.
Edwin G. Wooley. jr.. of James A. Pol
lock & Co, stated yesterday that during
the day he had conversed with a man
who had Travelled as far as Chicago with
Mr.. Williams They reached Chicago on
Sept. 10. On parting in that city Mr..
Williams said that he was on his way
east to see the manufacturing firms he
represented and discuss future plans.
In the long ride to Chicago, the man
who was Mr.. Williams close companion
noticed nothing in the agents behavior
that caused him to suspect that Mr.. Will
liams was in trouble.
Mr.. Williams was secretary of the Tetro
Mining company at Eureka, ana was in
terested in number of other mining cor
porations.
James A. Pollock is president of the
TetrO company and Edwin G. WOOlley.
jr., is one of the directors.
Mr.. WOOlley stated yesterday that Mr.
Williams, on departing from Salt Lake,
had not informed him of his intention of
going on a prOtracted business trip. The
first Mr.. Woolley knew of the agents
day, when The Herald told the story of
his unexplained absence.
Check Is Worthless.
Mr.. WooIley. as director of the Tetro
company, at once examined the missing
secretary's accounts. He found every
thing apparently in good shape, except
that there was an oVerdraft of more than
5000, which was in violation of the in
structiOns of President Pollock, and a
personal check for 500 drawn upon the
Utah Commercial & Savings bank by Mr..
Williams. in payment of his last assess
ment, which had not been presented at
the bank for payment.
The Williams check was taken to the
Utah Commercial & Savings bank where
payment was refused. as Mr.. Williams no
longer had money on deposit there.
The amount represented by the over
draft made by Mr.. Williams as secretary
of the TetrO Mining company had been
expended in the development of the com
pany's properties, it is said. President
Pollock, however had instructed the sec
rotary not to make such overdrafts with
out first levying an assessment upon the
stockholders.
Before going east short time ago Mr.
Pollock sent in his resignation as presi-
dent of the Tetro company, but as there
has been no meeting Of the directors since
the resignation was written, it has not yet
been acted upon. In the absence OF
President Pollock and Secretary Williams
Mr.. WoOlley now has charge of the af-
fairs of the company.
Success-coIorado Deal.
There is another tangle in Mr. Williams
mining affairs which may need straight
enlng out. The Success Mining company,
Of which he was a large stakeholder.
more than year ago entered into an ar
rangement with the Colorado Mining
company by which the Colorado company
was to take control Of the Success com
pany's properties The Success stock
holders We're to receive 1900 shares or
Colorado stock. then selling near par. in
exchange for their Success stock These
5000 shares were delivered to Mr.. Viii
liams.
Just what ne did with the Colorado
stock now seems to be a moOted question.
1t is understood that some Of the Sue
cess holders received their portions of the
shares, but the larger number have not
yet effected a settlement.
Lawyers who have been consulted are of
the opinion that the Colorado Success
deal will not hold water. and until the
matter is settled in the courts those in
terested on both sides will not know
clearly where they stand.
Mining men who are familiar with Mr.
Williams investments in mines do not
believe that he lost money through these
interests.
Appears to Be Prosperous.
All the properties in which ne became
interested were of the kind that would ap-
peal to the experienced mining man.
The TetrO company has paid a number
of dividends, while there were thirty-Ihree
assessments TO offset this showing, and
indications in the mine workings at the
time they were closed down on last Fri
day, after The Herald announced the dis
appearance, were that dividend-paying ore
was again being reached.
Another reason that Mr.. Williams
friends do not believe his disappearance
was due to financial entanglements is his
statement that he was clearing 81 600 a
month as agent for eastern manufactur-
ing concerns.
In addition to this. he was owner of
three or four fish ponds. from which he
derived substantial revenues and had
fine ranch in Idaho.
The present market value of the S2O00
shares of stock in the Colorado Mining
company given Mr.. Williams for distri-
button among the Success holders in
payment for their interests in the Success
properties is S2S7, 900. 1t is not known what
portion of this stock remained in the
hands of Mr.. Williams at the time OF his
disappearance.