Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1914-06-25
D. c. JACKL|NG HIGHEST PRICED
MINING MAN IN THE WORLD

The mining bushes as it has de-
veloped since the beginning of the
century is one which is bountiful in
its comparison to the topnotchers,
whether attorneys engaged in reor-
ganizing and merging companies or
mining engineers who are engaged to
look into the ground" and tell bank
ers and financiers just how much it
will cost to exploit it and what the
return will be upon a given outlay.
There have been several topnotchers
developed by mining, both in the legal
and engineering profession
Among the lawyers are Samuel I'm
termyer, whose work in Bingham has
probably brought him over $1,000,000,
and Louis d. Brandeis, whose com
mission of 10 per cent in the expected
Old Dominion award from the Bige-
low case will amount to about $780,
| 900, besides comfortable retainers
and fees he has undoubtedly received
from these wel-known copper inter-
ests. The New York Sun said four
years ago that lone lawyer" meaning
Mr.. Untermyer, charged $4,000 for
his work on the merger" meaning
the Utah Copper consolidation James
Phillips, Jr., at one time head of Ne
vada Consolidated and now president
of Tennessee Copper, one of the larg-
est independent copper operators in
the world, in circular addressed to
the stockholders of the Nevada Con-
solidated Copper company on Febru-
airy 3, 1910, referred to the Untermyer
fee as amounting to $775,000, or lO
per cent on the selling value of the
Boston consolidated stock" Mr.. Phil
lips made this comment: Nothing
is better established in law than a
fair commission or fee on work done
by an agent, but when we read these
colossal figures for a comparatively
small transaction we can even imag
inc Cromwell must feel unhappy
over his modesty' The Sun-in
which you are not supposed to see
anything unless it is so-made this
singing comment upon the Inter
myer fee "If the union rate for law
yer's bills is $775,00O for a $4,000, 00C
copper merger, will II be $7,750,00C
for a $150,000,000 merger?" The I'm
termyer fee attracted so much atten
ton that even the staid Springfield
t, Republican, of this commonwealth
threw up its editorial hands in horror
as follows: "The average man, NOV
ing a little outside of those higher
realms of finance, in which ever
lawyers like William Cromwell dare
. not enter will be apt to pronounce
Mr.. Untermyer's compensation as
scandalously excessive and without
any reasonable economic justifica
ton"
! In that selfsame circular Mr.. Phil
lips paid his respects to the eminent
mining engineer, John Hays Ham
mond, whom he said had relinquished
his retainer of 100000 a year with
the Guggenheims Mr. Phillips made
the point that Mr. Hammond was ia
vored with this large compensation
for doing a very small amount Of
work, particularly in the case of ap
praising Nevada Consolidated for a
basis of exchange of stock with Utah
Copper
A few years ago Mr.. J. Parke Chan
ming received a fee, 1t was stated, OF
$4,000 for few days work spent in
appraising Lake copper properties
proposed for inclusion in the then
pending $1O0OO,0OO Calumet & Hecla
merger Mr. Charming has risen in
the scale as a high-class expert large
ly because of his work of developing