Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1908-11-03
GOLD-S|LvER
COMPANY HAS
sl.4S CASH
Painful Discovery Made BY
Broker Who Brings Suit for
S1,133 Against Greene's
Mexican Corporation.
New York Times.)

Out OF the salt OF Richard A. Arnold
a broker, to recover $1.133 due him on
commissions from the Greene Gold
Silver company. stockholders of the
concern have had the unwelcome IN
formation forced upon them that the
Sz5.0OO,00o concern, most of whose
stock was marketed at par in the
Curb only year ago, has behind it ia
the way OF assets nothing that the
lawyers for the judgment creditors
have yet been able to discover ex-
cept some $4S6 worth of furniture, the
greater part OF which has already
found its way TO a secondhand furni-
eure dealer. and $1.4S balance in the
Importers and Traders Bank
In order definitely to determine
what has become of the stock of the
Mexican corporation which holds title
TO all OF the properties in Mexico
whose roseate prospects were the lure
by which the promoters were enabled
to sell treasury stock at par, John H.
Martin, assistant secretary and treas
urer Of the corporation, will be exam
sned insupplenentary proceedings to-
morrow at the Office of r. A. Jones,
the company's secretary, in 25 Broad
street.
Mr.. Jones himself, who has been
drawing large salary from the com
pany since it's corporation, has al
ready testified that as far as he
knows all of the assets were made
away with by Col Greene as far back
as 1906, q month before the initial
dividend of per cent was declared in
the preferred stock of the company.
On the testimony of the officers of
the Greene company so far readable,
Ralph Link of I46 Broadway, counsel
for Broker Arnold, is of the opinion
that the stockholders have at least
one hope left of getting back por-
tion of their money, and that is
through suits against the directors
who still are within the New York
Jurisdiction to recover the 1881 paid
in dividends on the preferred stock in
February and March, 1907.
According to New York State laws
directors are responsible for dividends
paid out of assets. AS far as the tes-
timony of the officers of the company
so far examined shows the company
not only had no earnings on which
TO draw in that year, but in its entire
assets had been hypothecated some
1uOQlQS pTSNIOuS IN ASAlCo Dy SCt.
Greene not only without the consent
but without the knowledge of his fell
low officers.
Col. Greene, from the testimony ad
duced, not only got S15,000,000 of the
company's stock as it was issued il
payment for various properties and
concessions of his in the Republic, but
a large part of the cash, which Secre-
tary Jones testifies amounted to be-
tween 100000 and $5,000,O00 paid
into the treasury for sales of stock,
went to Col. Greene in return for adj
ditional properties accomodatingly
furnished.
In the examination of Judge J. ].
Farren. who, as holder Of 1900 shares
of the Greene Gold-SiIver stock. forced
his election as a director at the annual
meeting in October last year in an at
tempt to discover where he stood as
a stakeholder, Lawyer Link brought
out the fact that an examination by
the committee of stockholders showed
that the title to practically all of the
company's twenty-one mining proper
ties in Mexico aggregating nearly So