The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-06-04
MINING LITIGATION
OVER APEX RIGHTS
MINES BECOME WORTHLESS BE
FORE END OF LONG DRAWN
OUT CONTROVERSIES.

In at least one case the prosperity
of mining camp may be traced to the
presence Of an apex combined with. the
sagacity and foresight of the men
whose interests were affected. This Is
the case of Goldfeld, says the Tonopah
Bonanza The story was told recently
at an after-dinner exchange of
thoughts. One speaker from Tonopah
suggested that Goldfeld would be a
much better camp had there been
ly instead of seven companies combin-
ed in one. This remark was disputed
by an authority at the same table, who
proceeded to enlighten his hearers
with some unwritten history of the
organization Of the Goldfeld CONSOLE
dated Mines company After the COM
pany was formed it was disclosed that
the Combination mine held a clearly
defined apex. A suit could have been
protested and prolonged for an indefi-
mite period, but the men at the head Of
the Goldfield Consolidated preferred
to clear all clouds from their title.
They went to the Combination and Sc
cured an option on that property for
$7,OOO,OOO. The money was paid and
the greatest gold mine on earth began
that career of splendid production
which has made 1t famous wherever
mining is discussed. Since that set
Element the Goldfleld Consolidated has
taken $12,O00,O0O out of the Combina-
ton. Had the seven companies in
cluded In the merger been operated in
the production of Goldfield
would have been throttled at the in
|ception and the lusty infant died
aborning. The salvation of the camp
and also the preservation of the in
tegrity of the Consolidated was due tc
the acumen of Senator Nixon in rec
ognizing the deadly effect of litigation
on the property just starting out to
establish a worlds record. If the
Goldfeld Consolidated, with it's auth
orized capitalization Of $50,OO0,OOO
could afford to remove serious men
ace to prosperity, others might find a
way to efface the blight that is settling
over TOnopah through the determine
ton Of someone to carry a dispute
clear through the courts.
The Drum lummon.
Before venturing further the llti-
giants are reminded of the fate of the
Drum Lummon of Montana, which
reached the United States supreme
court four times and each time the de.
cision established the foundation fol
another suit. 1t was an endless an6
exhausting chain of litigation and al
the end Of 20 years there was not
enough money remaining in the pro-
pertes to make them worth any fur
Their argument. The lawyers Slapped
the vitality of the properties involved
and the stockholders had the question
able satisfaction of seeing these
worthless wax fat as the resources OF
the mines grew leaner and there was
nothing more worth struggling for
The Aspen Bonyell Of Pitkn county
Colorado went to the United States
supreme court five times. When the
dispute began silver was selling at
coinage value and both properties
were rated at millions. When the
cases were finally retired from the
courts the properties would have been
spurned as gifts Silver had been de-
monetized and neither mine could OPP
crate at the reduced values Again
the stockholders held the sack The
lawyers built mansions in Denver and
were elected to the United States SEN
ate, and there was nothing to do but
to inform the stockholders they should
have instructed their officers to COM
promise at the inception of the suit.
This was chilly consolation for the
miners of Aspen, who had invested
their savings in properties they knew
were worthy investments and likely
dividend payers.