The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1910-06-18

Dexter company held their anh"@i "0
ing in Tonopah June 9th, and an OH
cial report to stockholders has now
been issued by President Raycraft. II
appears that there was a merry wal
started at the meeting, and that Il Is
still on. The report follows:
Office of Manhattan Dexter Mining
Company of Nevada.
Tonopah, New, June III, 1910.
To the Stockholders:
Pursuant to notice, the stockholders
assembled in annual meeting here on
June 9th, 1910, at 3 p. IN. The man
purposes of the meeting we're, among
other things specified in said notice, to
elect directors for the ensuing year and
to take action on a proposed contract,
between our company and the Manhat-
tan Jumping Jack Mining company,
settling and compromising the p~rotraet-
ed litigation between the two com
panies.
At the meeting on June 8, it appeared
that certain controlling stockholders OF
the Jumping Jack company were also
the holders and owners of a very large
block of Dexter stock. In other words,
two factions developed, viz: one faction
composed of those who owned Dexter
stock exclusively, a nd the other faction
composed of those who owned both Dcx-
ter stock and Jumping Jack stock. Al
lied with the Jumping Jack faction were
the Jumping Jack company's lessee,
viz: the Wal Eagle company, which al
so owns a block of Dexter stock, and
also the Plamenaz Shea Putnam c~oterie,
who are in litigation with o u company
In state and federal courts. These com
bined interests held almost enough
stock and proxies to control the action
of the meeting. The balance of power
lay with sundry conflicting, disputed
and irregular proxies.
The sessions of June 6, June Z and
June 8 were mainly consumed in the
canvassing of proxies, and debate upon
the disputed proxies.
A night session of June s was at
journed to 8 Il. m. June 9th. Early Oh
June Q, and before 8 a. m, the Jump
ing Jack faction filed a complaint In thu
local district court and obtained an IN
junction against the further proceeding
of the stockholders, especially enJoinine
the election of a board of directors.
The issue at stake is plain and sim
pie: Jumping Jack VS.. Dexter.
The Dexter faction was represented a
the meeting by the old officers and Ia
rectors of our company, and others al
lied with them. The Jumping Jacl
faction, and its allied coteries, wer,
represented in person, by proxy and by
their lawyers.
This report is promptly made at this
time in order that our stockholders
seasonably may be advised of he facts
above set forth. 1t is probable thai
YOU will, If nonresident, be further i'm
portuned for your proxy, to be used Al
some future date.
The old officers and directors desire
TO state that their administration Of
the affairs of the company is fully Sc,
forth in the reports of the president
secretary and treasurer, and in the cor
porate records, all of which were OK
hibited and submitted at the afternoon
session of the stockholders on June 3
1910. Protracted and bitter litigation
seant funds and other unfavorable con
ditions have attended the labors of the
officers and directors; but they have en-
deavored to de the best that could be
done under these circumstances, and IL
their stewardship is unsatisfactory
they are willing and glad to step aside,
They have deemed it necessary to en-
ploy competent men to look after the
company's affairs and to employ eoun-
sci to prosecute and defend the com
pany's rights, and to incur obligations
in this behalf, notwithstanding the
fact that the %company's income from
production was cut off by the injunctive
processes Of the courts. The present
campaign of litigation was started in
1908. when the Jumping Jack company's
lessee, viz: the Manhattan Ore Reduc-
tion and Refining company (grantor and
predecessor of the War Eagle company,
above mentioned) commenced an apex
suit against our company, claiming thai
the Jumping Jack company and its sale
lessee were entitled to mine unde~ thu
surface of our Union No. 3 claim, an'
also seeking $4,000 damages. Sundr,