The Alaska daily empire., 1915-04-19
]. s. SMELIlN6 CONCERN SECURES
 TIE EBNER MIAIE

tlBL L5NLN l5lIl9L
 The United States smcltiug Rean- ing and Mine Exploration company has ] secured control of the Ebner miae through foreclosure proceedings ac. cordng Go the following from the Boston News Bureau of April i0
 Thc Unlted States Smeitins. Min. lng & Benning Exploration Co has secured control or che Hbner gold ; property formerly owned by the Alaa. ka Ebner Gold Mines Co. if this ownership is not set aside through court proceedings the Ebner mine win have cost the smeltine company inc terests approximately S50o.0oo
 Already suit has been instituted in the Federal Com, in New York in be. half of some of thc deposIune bond holders ot che Ebner company seeking to set aside contracts between their company and Che smeltmg comrany on thc grounds that ihe Dondholder committee exceeded les authority in making these contracts
 "Nghen some of lhe bondhollors late in 1913 formed committee and later suggested a plan of rooreanization. ne goliaGous wore entered into with the United States Smeltiag Mining < Re. hnirg Exploration Company for ad- ynnces and development work To secure Che smelung company there was turned over as collateral for these advances 100000 shares Of Ebner Gold Mines Co. stocl, and 1000 shares Of Humboldt Mining Co. stock so11 blocks of stock constituted part or the assets Of the Ebuer Go. which Wss in receivers hands
 Between S450,oo0 and S5OOOoo was expended by the smelling eompans in payment of debts and for carrying on development work. Che payment was demanded several weeks ago Bond holders were asked to contribute the half million dollars necessary to meet this indebtedness. but Che amount was not forthcomng A weeks extension of time was allowed but the result was a forced sale of Che collateral at auction in New York this week. a' which it was bid in tor the smeitins company for SS00 The bidders were represented by che New York law-iiFm of Wins & Russell who last yea bought in the various securities conn prisinc the assets of the Alaska honet Co., when they were sold at iorecio' sure
 it is understood that the eSplofa' torg work carried on by the smei1ins company resulted in values as nsn as s1s ton being shown in some parts of the Ebner property while other sec tions showed but slight traces of so.a. The option Co purchase held by lne smelling company was turned down pe. eause net values oi S15,00o,ooo were not indicated.
 rhe suit brought by bondho'aefs aealnst the committee also names 1he United States Smelling, Mining N ''e lining Exploration Co as defendant The two causes Of action were That the committee exceeded It's aothoii.S in. permitting new debts to arise Wiln' out informing the bondholders and l- that clauses of the. contract with the Smelling Co. were usurious.
 Ask for Stock Back
 
 The following is from the Boston News Bureau of April g
 "rhe heirs of the late Edward Hatch and other certificate holders in the Alaska-Ebner Gold Mines com pam have applied to che Federal Court at New York to compel the United States Smelting & Refining Exploration company Co surrender 100. 900 shares of stock. 10 is alleged that the bondholders committee which bought under iorciosure enter ed into a usurious agreement.