The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-02-25
CONTROL Of BLACK BEAR CONSOLIDATED
BERN|ER APPEALS TO STOCKHOLDERS
PRESIDENT MANAGER OF COMPANY MAKES SPIRITED
REPLY TO THE LETTER BY L. E. HANLEY-coNTEsT
ATTRACTS MUCH ATTENTION

pany had peen Hldlleu HioiS siat
week before, few people were aware
Of the move to gain control OF the
property until the substance OF the let
,Ar Was published in the Miner last
week. Since it's publication the prop
nsition has been much discussed III
mining circles and much interest man
;fasted in what Peter Bernier, the pres
,dant and manager OF the properly
would do to block the move 10 "leos
control from him. 1t was lhtiiiiateu
nv this paper that Mr.. Befhler "oui'
o,,a a stubborn resistance ana TINS
,,radiction is borne out by a letter is
sued by him to the stoekholoers VI t'le
co,npany the first Of the Week ha'
ar NAV be said of the Watchlul
,va,+inp nolicy' in dealing with Mexico
II Is evident that the president Vi 'ie
Rlack Bear Consolidated mas "os
adopted 1t in dealing with the ooi..'i
oe that nroperty. His appeal TO tne
.thckholders begins with the Rather
startling statement: Ihere niu''
something inside as 1t appears lhae 'iie
,,o1,,es are at the door" This is tol-
,oved nv an assertion that Mr. Hanley
.ht1a director of the company re-
fused to accept loan on behail ol ti'o
c,nnany for $4,000 which Mr.. befhiei
rad negotiated This assertion Is sup
,,ortaa by a copy of letter June H.
1912. in which Louis Lescauit' VI q"
,ucket r. l., offered to loan lhe Cum
nanv the amount named at per ceh.'
secured by first mortgage on the DiaeN
poor nronerty. telegram from the
secretary of the company to Mr. 6er-
neir. who was then in the east, Is aiso
quoted, saying; "Hanley refuses 10
mortgage property"
Rsrnier's Answer and Proposition TO
Stockholders.
"yon can see from the foregoing that
Mr. Hanley has blocked this deal anu
also why he is not director, says MI
nernier "Now he is going around see
ing stockholders personally and mall
ing a ridiculous agreement Tor 1he'i
to tie up their stock for SOc per snare
less 10 per cent for commission loi
two Years. and also asking them lol
tbeir nroxies for the control and knock
ing the management is the means ne
nses to induce stockholders to sign the
agreement and proxy
"rhe blocking Of this deal by H. ~
uanlev is the reason why the directors
have allowed me $4,000 on account Vi
losing this deal through him.
(which do you think would De more
beneficial to me, the $25OO, Which
had to apply on assessment or the
100000 to make the Black Bear NINE
"It Is true that we have borrowed III
the neIghborhood of $4,000 OIL WHICH
10000 Is the Patterson .oan as you All
hoard Of It before. This $4,000 and part
of the other was spent in deVeiop'hs
the mine year ago last summer anu
the current expense of the company
ava the balance was spent in securing
ooents in various places, one IN bul-
4alo New York, who has peeh hisnlS
accommodated to us by Bradstreet' we
have paid them for getting up pio
o+,,o of the Black Bear for the COM
nonv which they have used in trying
IN place the stock in the east anu
know they have done eVerytllhs -
their power to do so, and also nav
.oIosnen out in various parts OF 'he
oost Also mart of this money was
used bv myself in placing saieSi'iei'
IN Portland. Seattle and other piace''
"uis assertion regarding gNl"s
treasury stock for my personal loan 10
not true. xu4
"Au of this was done for the pest
,r+orest Of the company and was APP
nroved by the board of directors Wno
ara business and mining men Oh nien
standing in the community ...
GLOW can money be raised "l'ho''
an effort? o,.,or
answering Mr.. Hanley's asserllon
.a,nr my note for $1542.66, due
october Z, 1915, in part payment ~
No a assessment have aireaoS paw
the note in full and have received Wv ll'e
treasury receipt for same 1t Is erut ,t
that owe the company $SVV' 10 -
. crime? have spent this money !" !"
trying to raise money for the company
"I have in the past adVanceu Wv
company sums of money amountins -
over $4,000 without interest
1T will be observed from reauihs
of the agreement proposed by Mr. Han
lev that IT is decidedly one-siue'
agreement, the stockholder being asN'
J ed to give an option upon MS s'oer
tying It up and preventing sale os
him at any price for period oil 1--WE
years. the stock being placed IN escrow
in the First National Bank of wallace
Z. But Mr. Hanley does not agree 10 az
anything; he neither purchases thi
stock nor agrees to purchase the same
and has a perfect right under his pro
posed agreement to do nothing what