The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-12-19
He COURTS FULL
INVESTIGATION
TO PERMIT INSPECTION OF
JUMBO EX.

Under the heading of Rice and
Other Boomers Regulated" the FL
nancial World of New York, in its
current issue, publishes the follow
ing article:
II. Schwaikert, president of the
Jumbo Extension Mining company,
who is also interested in the firm of
Charles s. Sprague & Company and
Sprague & Schwaikert, declares to
the Financial World that he wishes
1t to be emphatically known that
neither he nor his associates have
any affiliations, in the operation of
the stock of the Jumbo Extension
Mining company, with George Ora
ham Rice. Stoneham & Company, or
any of the mining stock brokers
whom the public has learned to fear.
Mr.. Schwaikert has filed with the
Financial World an affidavit where
in he disclaims any knowledge OF
or having any part in the old famil-
lar trick played by Mrs. Emma Will
konson, whereby two New York
stock exchange firms were caught
short of Jumbo stock and compelled
to pay a handsome sum before they
could cover their commitments. The
knowledge possessed by the manfpu-
lators of the position of these two
firms enabled them to run the stock
up to 81, after which 1t again drop
ped quickly to around 50 a share.
Between this quick ascent and de-
scent in the price of the stock, curb
traders, grabbing for quick profits,
were badly caught.
In his affidavit Mr.. Schwaikert
states that neither are his companies
nor he personally engaged in ma
nipulating Jumbo stock. Both re-
ly upon the development of the prop
erty to influence the market value
of the stock. Nor are they in any
way responsible for me publication
or recommendations of any individ-
uals or firms. They stand respon-
sible for only such facts as come
from official sources.
From G%oldfield, Nevada, Charles
S. Sprague telegraphs the Financial
World that the message which Rice
caused to be printed as emanating
from Mr.. Sprague is ~textually the
same as the one the company sent to
all newspapers and brokers and
should not be accepted as in any way
a direct communication endorsing
or sponsoring Rice.
Without hesitation the Financial
World publishes the statements Of
both President Schwaikert and Mr..
Sprague disclaiming the impressions
Rice and other mining sharpers have
been endeavoring to create that they
are working closely with officials OF
the company to arouse public inter
est in the Jumbo shares.
That the stock has been manipu-
lated by certain persons is beyond
dispute. If, as we suppose, Mr..
Sprague and Mr.. Schwaikert are de-
sirous of removing the natural sus-
picion from Jumbo Extension which
the boosting efforts of Rice and his
ilk have fastened upon it, they
should prosecute a strenuous cam
paign of warning the public to pay
no attention to these harpies, whose
shadows, even when cast upon ?
project, tar it with their own pitch.
In commenting upon the above ar
ticle. Mr.. Sprague today said:
THE dispatch upon which the FL
nancial World. in a previous issue,
based an attack upon myself, was
syndicated to numerous brokers and
newspapers throughout the country.
It was based upon the preliminary
! estimate of the production and earn
ings of the Jumbo Extension for the
present month and contained only in
formation of a general character. 1t
was not in any sense inside informa-
ton to Rice or any other broker.
1t was our regular monthly state
ment. Rice, however, eventually
made it appear as an exclusive tele-
gram, and the attack of the Finan-
cial World followed.
In reply to the charges made by
the Financial World l telegraphed
to the editor that l would defray the
expense of any reputable mining
engineer, upon whom we could agree,
to make a visit to Goldfield n
make an inspection of the Jumbo
Extension mine. specifying that he
should announce upon the conclu-
sion of his investigation whether or
not my associates or had eve made
false representations as to the mine,
and, further, that his report be pub
lished. verbatim and in it's entirety.
in that paper. I received a message
in reply stating that the Financial
World might accept my of1er and in
quiring whether any engineer named
by H. Foster Balm, editor of the
Mining and Scientific Press of San
Francisco, would be agreeable to me.