The Bridgeport evening farmer., 1909-07-10


 AS a matter of fact Butterfield al
 th1s time was unable to pay the cash With which to meet the first payment
 ana Pike accepted two notes Butter
 ileIu neld against w. c. N. Swift of
 New Bedford, Mass, one for 2O,OOC
 and the other for s15,0O0, as security
 Tor the $25.0O0 first payment on con-
 tract of July 31.
 Then came the news that the pur- chase by the English company, which
 Butterfleld had so industriously organ iZeo, was much more of a transaction than the other owners had supposed.
 Ferhaps they Eever knew exactly the amount that Butterfield was to re- ce1ve for the mines, but they did know that the Englishmen were engaging in a very large way, that they had not gone into the thing blindfolded. and that the mines when worked with suf- ficient capital and on a large scale would prove enormously profitable.
 Butterf1eld's papers and records, still preserved by him, show that a most thorough investigation was made be- fore the Britishers decided to interest themselves- The ores were examined py famous experts on mining who were sent to the ground.
 E&haustfve inquiries were made through indirect sources of persons fa- m1I1ar with the mines. The ores were assayed by the Bank of England as savers, and the whole question was proved in a thorough way.
 The result of all the investigations Inquiries. and exhaustive analyses of ores was that the Englishmen were not only willing. but anxious, to em- park with Butterfeld. in the work of reclaiming the gold from the rocks in which it had lain in the mountain fast nesses Of California for ages.
 It must be remembered that Pike ana FOX had now had from Butterfield $lo.OO0 in cash and $35.0O0 in notes. The notes as it afterward turned out IF rn fo, cash. and were, actually turned into cash. Yet. although Butterfield had made good under the second agree ment. and was ready to make the stipulated payment upon the condition only that the conveyance to the mines were made when the price was paid. But the less than s300,OO0 that Pike ana FOX were to receive for their parently. looked large to them. The conveyances they refused to deliver, despite the agreement they had enter ed into and the Englishmep. becoming tired of the delay withdrew finally from the arrangement. It will be noted that in both cases the agree ment of option into which Butterfeld had entered was entirely one sided. If he did not purchase upon a certain date, he forfeited his option. If Pike and Fox failed to sell. they were sub ject to no penalty whatever
 Butterheld now found himself in position where his partners worked the mines for their own benefit. retained the sums he had deposited by way of option-s10.O00 upon one occasion, and $35, GOO upon another. and where it seemed likely to him that he would be utterly bankrupt.
 Two methods were left open to him; he could engage in litigation to secure an accounting of the partnership and the return of the sums represented by the Swift notes and the $10,OO0 cash, or he could make a new arrangement with the English people. As a miner he dreaded the laws delay: he dreaded g. contest with a group of men who were all lawyers, and clever lawyers as well, in a territory which to him was unfamiliar He took the latter course. Nor was this choice unwise as will be noted later. when upon the decease of Pike, Pike's widow insti- tuted certain litigation in the matter. which remained in the courts 15 years before it was brought to conclusive de- and which indeed never has been brought to conclusive deter nina tion. because at this day. there lies in the vaults of the Boston Deposit Company the sum of $100,000. a little more. or a little less. which is the doubled by the interest, since 1t has been on deposit. that Butterf1eld finally tied up by one of the steps in the intricate legal fight which, as has been said, was waged so many years. | Moreover Pike was an exceedingly clever lawyer. as well as man with by a member of congress. which he had been- Fox was a justice of the Supreme court of California and be- | fore his death became chief justice.
 At any rate Butterfie1d once more | sought the help of the f1nanciers of ment under which a corporation called | -he West May Lundy limited. a cor formed for the very purpose. | agreed to buy the properties involved. | for million pounds sterling. Out of this transaction. should it be consum- | mated. Butterfield hoped to receive the | sum represented by his share of the | ownership. and hoped also to make a | arge profit for closing the deal. This | appeared to him much better than 1iti- | gation of any kind.
 It was then agreed between Butter field, Pike and Fox that a deed of | trust should be made to H. Lee Bor- | len. and that he should turn over the | mines to the West May Lundy Com | pany, Limited.
 This deed appears on the records as | Agreement "E'' in the suit now pend l ng, Butterfield vs. The Crystal Lake | Sold Mining Company. It recites that | tour deeds conveying certain mining | claims and property in the Homer Min l ng District, Mono County, California, | nave been made and accepted by the | ;aid H. Lee Borden without any per | 'onal charge or liability against him 'or the care and protection of the | property"
 And. continues the declaration of rust, "It is hereby declared that the | 'aid properties shall be held by him n trust for the benefit of the West May Lundy Company, Limited, with he condition and promise that H. Lee Borden shall be without any charge, ,laim or liability whatever. except the promise by him to convey and transfer he said properties referred to in said leeds whenever he shall be properly -equested to do so by the West May lundy Mining Company, Limited. or heir representative. G. W: Butter ield."
 Perhaps no bo1der confiscation of a valuable property was ever consum- mated than this that now took place. 1t least none by men whose standing n the community was so great as hat of the men interested under the