Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-11-03

900 shares, was vested in the Greens
Gold-Silver Company s. A, Mexican
corporation, whose shares were sup
posed to have been issued to thu
Greene Gold-Silver company of West
Virginia. whose shares had been mar.
keted In New York.
Some time before his connection
with the company. Judge Farrei
, swore, the stock of this Mexican com
pany had been hypothecated by Col
Greene with the Cananea Realty com
pany Of Mexico, of which Greene Is
president, without the knowledge OF
authority OF the directors. Judge
FarTens Investigations, he testified,
went far enough to discover that the
Cananea Realty company had ia its
turn hypothecated the assets of the
West Virginia Greene Gold Silver com
pany with various Mexican banks, hui
ne was unable to learn what string, II
any, the West Virginia company had
on its property.
Judge Farren testified that the
West Virginia company had no prop
erty In New York to satisfy the $1.133
Judgment, as far as could be learned,
property he had been able TO trace as
having once belonged to the corpora
ton was some in Arizona and that
this had been dropped from the books
OF the company without any explana-
ton as to its disposition Whenever
he had run across snag In his search
for the company's property, he testi-
fled, he had been met with the state
ment that Col. Greene was the only
person with the necessary informa-
ticn.
Col Greene departed from New
York Immediately after Judge Far
ren's election to the directorate of the
company In 1907, and has been ap-
pealed to In vain repeatedly since 20
come back from Mexico and explain.
Shortly after Col Greene left New
York E. J. Gales, treasurer of The
company, resigned, and he, too, Is
now out of reach CT the court pro-
cesSes of this State. In his abse nee
the creditors. through Attorney Link
have endeavored to get some light on
the disappearance of the assets
through the testimony of Secretary r.
A. Jones. Under oath Mr.. Jones has
testified that c i. Greene has received
$4,000, 900 of the $25, 00o, 900 stock of
the Greene Gold-Silyer company, and
that from the sale of stock between
100000 and $1,000, 900 of cash has
been turned into the treasury as far
as his memory served This had gone,
he said, to purchase and develop the
properties in Mexico, to which title
now stands in the name of the Mexi-
"a
appeared.
An additional embarrassment to the
stockholders is furnished in the fact,
according to the secretary's testimony,
that a number of the properties were
only partly paid for, and that these
have been since lost through the non
payment of the balances. There is
no record in the New York books Of
the company, according to Mr.. Jones's
testimony, to show that the Mexican
company's stock ever came into the
possession of the West Virginia COM
pany, which had been selling 1t in
New York at par. This fact was
called to the attention of the Execu
tive Committee in July. 1907, by an
auditor who was engaged to go ovel
the company's books
On receipt of this information the
Executive Committee passed resolu-
ton ratifying the transfer of the as
sets of the company to the Mexican
corporation and directing the treasur
er to get possession of the Mexican
stock. This was six months after
Col. Greene, according to the minute
books on record with the court. had
hypothecated this stock in Mexico. No
record on the books shows what be
came of the money received on this
loan. Neither does appear that the
treasurer ever got possession of the
stock.
. In May of this year a telegram from
Col. Greene to Secretary Jones. which
was signed Cananea Realty company,
requested that the records and stock
book of the Mexican company, which
is capitalized at $4,000, be sent to
c. c. Chase, the general manager of
the Mexican company.
Secretary Jones testified that on re-
ceipt of this telegram he sent the
stock books and records as ordered,
but did not look TO see if the certifi-