Weekly journal-miner. [volume] (Prescott, Ariz.) 1908-1929, 1909-03-17
RIVAL DIRECTORATE
SoUABBLE OVER UNIDA MINE
rrom Wednesdays panrl

With two sets of directors, number
ing seven each, elected for the ensuing
year, the Unida Gold Mining Company
Is entering upon what appears to be 7
promising period of litigation.
One director of each faction is a res.
ident of this county. The remaining
sizes are residents of Cleveland, Ohio
Attorney r. f. Morrison is the leading
member of one of the belligerent
boards. George Marguerite, the dis
eoverer of the property and organizer
of the company, is of the bi-headej
directorate.
1t is claimed by the Marguerite
crowd that George Palda of Clevelar4,
secretary of the company. called the
annual meeting of the stockholders in
Cleveland, Ohio, for February %.
George Marguerite and his attorney,
Henry D. Ross of this city, attended
tne meeting and elected board of d.
reetors. Secretary Palds did not at
tend the meeting. He called a stock
holders meeting held in Phoenix last
Friday.
Returning here from Cleveland, Mar
garetic and his attorney learned of the
Phoenix meeting and attended it. They
insisted on a ratification of the cleo
tion of the directors elected in the
Cleveland meeting. They were sur
prised to learn at ne Phoenix meeting
that Secretary Palda and mis- associates
had sold 100000 shares of the capital
stock of the company at half cent a
share. They maintain that the stock
Is worth % cents a share. The Phoe-
nix meeting was called to order at 2
clock in the afternoon. Attorney r.
E. Morrison presided. After a stormy
session the committee on credentials
reported at 10 O'Clock at night. The
meeting, at which it is alleged many
spicy allegations were made by both
sides. lasted until > O'Clock the fol
lowing morning.
With the admission of the recently
sold 100000 shares in representation,
Secretary Palda and his bunch out
voted the Marguerite crowd and, ig
noring the Cleveland meeting, elected
as directors Attorney r. f. Morrison
of this city, J. s. Hodous, Frank Ho-
borka, l. S. Kuzel, V. Svarc, Paul
Schultz and Paul Gozdan of Cleveland
The directors elected at the Cleveland
meeting are George Marguerite of the
Black Rock district, Frank Sindelar,
John Ference, Frank Sanda, DR.. w. F.
Hribal, Joseph Dovalorsky and William
Runsynik of Cleveland.
When seen at his apartments at the
Prescott Hotel Monday night after his
return, Secretary Palda. speaking of
the Phoenix meeting and the charge |
that he had sold the 100000 snares of
stock at half cent a share, admitted |
the sale of the stock and insisted that !
the election of his board of directors
at the Phoenix meeting was regular.
He said: "Margaretic's election of
directors of the Cleveland meeting is
null and void as a majority of the
stock was not represented. The sale
of the 100000 shares was necessary TO
raise funds TO pay for the annual as
scssment work on the claims. The
money raised was used for that pur-
pose and the payment of other legiti
mate expenses. 1t is true the stock
sold for % cents share some time
ago. It was offered for 90 cents a
share later with no buyers. mining in
vestors claiming that they did not care
to invest in a property, the title of
which is in litigation. No buyers were
found at five or even two and a half
cents share so the stock was sold for
a half cent share as the management
was compelled to raise money some
way to protect the title to the proper
ty.
A representative of the Marguerite
when seen yesterday, claims
that Secretary Palda admitted in his
deposition yesterday that all of the
money nad not been paid for the $780,
600 shares sold for half a cent and
that great portion of the payments
was made in notes. He questions the
right of Palda to make such sale
and that ITS legality Will be settled by
The courts.
The Marguerite interests also assert
that the assessment work was done by
at an expense of $1,lOO
ard that Marguerite had only been
paid $500 for the work.
The Unida group of eleven claims is