The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-18
1t Likewise Tells of How a
Graft Was Worked by
Ecclesiasts.
TELLS ABOUT HOW GOOD
SAINTS WERE HOODWINKED
Meanwhile Steve Chapman, jim
Clark and Abel John Evans
Still Smile.

Fork number OF men more or less well
known in Utah county, men OF solemn
micn, almost depressed appearance.
Whether by the weight Of their own bur
dens or the burdens OF others might not
be judged easily. They might have been
jury OF the district court, ior there
were bishops among their number; and
| bishops have faculty or perhaps a Ia.
! cility In getting on juries In Utah and
| Idaho. 1t might have been a meeting
OF the high priests quorume of the AL
| pine stake OF Zion: there were members
of that among them. II might have been
| n delegation OF mourners come 10 bury
| their dead, but none had passed away In
American Fork. 1t was a bunch OF ylc-
tins who had invested their savings, and
In some cases their all IN the Metcalf
Coal company coming TO demand an ex-
| PLANTATION at the hands OF stephen l.,
| Chapman. James FL Clark and Abel John
Evans the presidency OF the Alpine stake
OF Zion and directors OF the Metcalf Coal
| company.
Not Harmonious Meeting.
The meeting was had on Monday after
| noon. 1t could hardly be called har-
monious; II was barely within the peace.
| for In spite OF the prlestly supremacy OF
thief, swindIer, cheat, fraud. scoundrel
| passed freely. The meeting broke up In
disorder and the delegation returned to
their homes In Spanish Fork sore and
| still unsatlsiied.
| 1t would appear that the grating ex-
ample of Apostle Lyman and his Shoshone
| Power company the looting of the Oneida
| irrigation district by Stake President
! George c. Parkinson and Arthur w. Hart
| had been emulated by the presidency OF
| the Alpine stake through the medium OF
| the Metcalf Coal company and thls Is
how 1t was done.
Worked by Missionaries.
Two slick young Mormon missionaries.
Sam Stark and Elijah Cutler, returning
from their mission and finding their
every day occupations OF railroad agent
and photographer. respectively, not SUI
ncientIy remunerative for their Ideas,
went into the real estate business and
! In their promotion of a town lot scheme
Al Sugarvle, suburb TO be OF LEM.
| tlaims OF lands in Pleasant Valley, upon
which there had been developed some
| coal but up 10 date no extraction TO
amount to anything other than supplying
| a few farmers and peddlers had been
| made: but as the basis of an incorpora-
ton II had great possibilities II was In
corporated and stock ceruncates "ere
printed in gorgeous colors.
High Ecclesiasts Brought In.
To mako it sound good IL was neces-
| sary to get some high churchmen into
! the board of directors. To this end the
presidency OF the Alpine stake-Stepnen
l.. Chapman. James H. Clark and Abel
John F;vans-werc presented with four
thousand shares apiece, and then the
! general flotation began. Missionary
Stark and Missionary Cutler took this
|
! thing nothing better. An investment OF
| $500 made in the spring would by fall
render the fortunate Investor indepen-
IDENTIFY rich: q fourth Of 1t lnvestcd by a
| blind and aged widow would take the
| burden OF her support from the willing
and loving shoulders OF her children and
leave her self-supporting, $50 Invested for
| her infant grandchild would find her an
| heiress when she came OF age
None Were Exempt.
-l,N
phan exempt. blindness and old age were
no protectlon; faith In their church and
It's creed was no bar TO their greed. and
only made the faithful fall the easier
| Bishops fell In punches; elders In scores
No amount too large for the stock book
no allotment too small. The widows
| mite and her all was all they wanted and
| they took It..
No Dividends.
The fall came. but no dividends. the
| winter came and no coal from the Met
calf mine; and the people Of the Alpine
| stake and the stockholders OF the Metcalt
| Coal company bought the same old coal
| from the same old company at the same
old price Murmurs became kicks. and
| even roars. No stockholders meeting was
| held and trouble ragged, first secretly,
then openly. Chipmen; when cornered.
| explained that II had taken more of time
| and money to develop tho mine. that tho
! investment was good even gllt-edged; ;
that he was putting more Into It.
Advised to Hold On.
Hold your stock" said Chlpman.
'Tlold your stock whispered Clark.
| Hold. hold your stock sang Abel
/ John Evans.
Under such advice the stock. which had
been originally dispensed at 20 cents a
| share. went 90 dollar. Not n dividend
! had been paid, not II statement of tho
1 financial condition of the corporation had
been issued not a car OF coal bad been
shipped, but the value OF its stock had
quadruplcd.
But Ecclesiasts Let Go,
The bishops. the elders. the blind and
aged widow, her infant grGndchiid held
their stock. but Chipman Clark and Ev-
ans sold and they were directors. An
other spring came and no dividend and
Again the voices OF the stockholders were
raised without effect. until, unable to
stem the current OF disfavor which was
forcing something somewhere. a meeting
WAS finally called for Monday last. and
that was why the delegation of mourn
Ing bishops and elders got on the train
at spanish Fork and went To American
Fork To listen 10 the stake presidency
and directors OF the Meicalf Coal COM
pany explain tho how and the why.
How the Company Explained,
| The explanation was that The stock
purchased by the good people. mostly OF
| Utah county was capital stock issued TO
the promoters Of the corporation, and not
| treasury stock. which to he devoted
to the development of coal from which
the rich returns were to he made: that
stock sold by the directors of which II
appears ChIpman had sold no less than
$500 shares out OF his 1000, Clark 100
and Evans 1000. was their own affair:
that the losses. II any. must he stood
| 10y the holders; that there was no money
to spenk of in the trcasury-and what
| were they going to do about II?
| That was when the row began Some
! say they will invoke the majesty of the
| law, claiming fraud and nlisrcprescnta-
ton. but they are mistaken. Presidents
| Continued on Page Two.