Bisbee daily review., 1909-03-17
CASEY TELLS HISTORY OF
 CARMEN CO.
Answers Circular Letter" By Asserting That He Has Pro- tected Stockholders Against Famous Triumvirate"

J. P. Casey who is largely interest ed in the Carmen properties. has sent Co The Review letter explaining. the status of that company's present diff
 "'iies and laying before the puble what he asserts to be the true facts in the caSe- MT. Casey's communica- ton follows:
 BISBEE. Ariz.. March Is. 1909,
 A "so-called" circular letter has re- gently been issued purporting to be by the Carmen Consolidated Copper Company to it's stockholders, but whicA has in fact been issed by. the now famous triumvirate, Afessrs. W. P. Power C. B. Bell and D. X. Rich ardson. three men who. from the very outset of the organization of the com pany. have adopted every device known to questionable and slippery Aealinss to wrest the control of the property from J. P. Casey and the stockholders. whose interests Mir. Ca sey has guarded. with untiring energy.
 The "so-called" circular letter sim ply br'stles with the name of one D. A. Richardson. of which a mere ref erence to tle recent unpleasantness of the Lueky Tigre Combination Gold
 
 The 'so-called'' circular letter cites as its principa. rsaSen. which will ap- pear later as being misleading and a subterfuge for the purpose Of pulling the wool over the ayes of the stock holders who hIye purchased in good faith. that W. ' Power, president 0f inc Carmen Consolidated Copper Com pany. -blaues MT. J. P. Casey for tue troubles which tlle company is hayins with him"
 A review Of the history of the Car nsen Company vril. show that the dif- ference between Mr Power and MT. Casey are based on the following:
 The Carmen Company was organ 'zed under the laws of Arizona for 20O,000 shares at S2.50 per share; 90.- 900 shares of treasury and 10000 eha-es Of capital stock. of which MT. Power received one-third or S6.6OO shares. and deducting the stock given away there were issued to J. P. Casey v 400 of capital stock. which he still holds and which has not been bar tered or traded in by him.
 In addition to this 77.f00 shares c1 capital stock there was also due Cs- sey cash payments aggregating S26,- S70. of which only S9600 was ever paid by Mir. Power or the company where hy the original contracts were for ieitcd
 or tue 9O.o60 shares of treasuTy stocE there were authorized to be sold at par at the first meeting of the board of directors 39.600 shares only. which Is shown by the minutes of the first meeting, and whicA board still stands. and nave never resigned. and Mr. Pow CTS purported board were never ie- gaIly elected, seUordins to -Arizora laws under which this company was -rEanized.
 Upon auditing the books Of the com pany iu November. 19UL Mir. Casey found an overissue of 2i.616 shares Of treasury stock Mir Power prom .izeG Mir. Casey to make good thl5 oyer-issue cf 246I6 shares tO the com pauv. and later turned over to Casey as security therefor 3l.2JO shares oI La Union Consolidated Copper Com pauy CSierra Tordilla) /stcck, anu which is still held in trust by Casey for the company.
 Upon auditing the books in Noyem- Der 1908. it was discovered that Ci the treasury stock issued, none of the stubs had been filled in; that tho 30. O66 shares remaining in the treasury as shown by the November, 1907, statement had been sold. and 5O.0Oo shares additional aggregating an over issue of 104.S72 shares Of treasury CT which no accounting was ever made to the treasury by MF. Power. This same game Mr. Power tried tO worE on the Cananea Duluth ComD9ny. licn will be remembered by those interested here.
 Mir. Power has paid into the treas t,rv only S37 ,500 as the books show, out of which amount there was done bv Casey over 2000 feet of develop meat work cn the properties. The re- maiujng money of the s57 500 after the so30 feet cf development work amounting to S33.40O was deducted, was by Casey turned back to Power, together with 1e50 shares of Las Chis- nas storS bought by Casey out of the treasury fund, and which were apDro- prated by Power.
 When Casey discovered the over issue Of stock aad th8 false dividend as scEuoE Edged by Power to have been paid, and in addition to which be eiaiIned tp have paid out Of his oSn pocket S12 .00o to make good the false dividend, Casey refused to transfer the property tc Power and his dummy board not cnly oE this ground, but on the ground of the contemplation by Power of the original contracts
 From tho foregoing 1t will be seen that the scheme of the now famous triunnvirate, Power. Bell and Rich ardson, was to oust Casey. nave them seITes in control, leave the illegal over-issue of stock afiOat, knock the stock down and later buy 1t in for a song. then transfer the properties to themselves and leave the innocent stockholders without recourse. This ss clearly shown by the contract of January 22nd, 1909. by which the tri- umYirate attempted to trap Casey by leaving the stock Of the Mexican cor Ucration endorsed in blank, SO that ther might in future safely transfer same to themselves, thereby leayins Che bona fide stockholder without rem edy.
 All that ]. P. Casey asks is that the stockholders stand with him and not sell one share of their stock and to force Power to a full and complete accounting. Casey Is forcing the fight in Old Mexico and promises the stock boiaers ftat D. A. Richardson will no. ee able to take armed possession Of faes prupcrry. as he attempted ia the r