The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-12-30

York, checks for dividend No. S Wer,
mailed to stockholders by the Consol.
dated Interstate Callahan company
the disbursement being $3.50 per share
land amounting to 100000 Including
this dividend the company has pale
since April |, $3.50 per share, bringing
the total sum disbursement since thai
date up to $2,557,445. Enclosed with
each dividend checkawas a circular
letter addressed to the stockholders OF
the company which reviews at consid Z
cradle length the issues of the litigation
in which the two factions of the COM
pany are involved, the court proceed
ings and the motion yet to be passed
upon in the federal court The letter
Is here reproduced;
New York, December II, 1915.
To the Stockholders of the Consolida-
! ted Interstate Callahan Mining Com
! pany:
Dear Sirs-The dividend which ac-
companies this letter speaks for itself.
The officers Of your corporation believe
that its management has met with the
approval Of an Overwhelming majority
/ of the stockholders. We regret that a
disgruntled few have seen fit to in
stitute litigation against your Company
in Idaho and have published in the
newspapers wholly false and misead-
ing statements with regard to the basis
of that litigation and its present status.
We wish to assure you that the litiga-
ton was wholly uncalled for, was in
spired by jealousy. and cannot result
in any harm to the Company other
than the expense of defending the pro-
perty of the Company from the depre-
dations of this selfish minority Brief
ly, the facts involved are as follows
At the annual meeting of the stock
holders held In Duluth August Is, 1915,
the following directors were duly
elected: J. Fl. Robbers, ]. A. Percival,
Mile Bunnell, M. J. Rodeamel, C. NJ.
Loeb, A. L. Riley, S. S. Titus, A. L.
Warner, Otto Sussman, James f. Cal
lahan, Gust Carlson.
The directors met Immediately after
ward and elected the following officers.
J. A. Perclval, president. NJ G. Rodear-
mel, first vice president. Mile
Bunnell, Second Vice President. C. M.
Loeb, Treasurer, Julian b. Beatty
Secretary II. r. MeMeekln, Assistant
Secretary.
After the stockholders meeting had
adjourned, Gust Carlson P. H. Nelson,
Frank Boutin, George C. Swallow,
Louis Hanitch and James f. Callahan
held little meeting all of their own
and claimed that they all should have
been elected to your board They then,
without any warrant of law whatever,
proceeded TO declare themselves the
Board of Directors of your Company
and assumed to elect p H. Nelson,
President, Frank Boutin, Vice Pres !
dent. r. c, Ogilvie, Secretary and |
Treasurer Louis Hanitch Counsel. |
They thereupon repaired to Wallace, !
IDAHO, where they divided their forces.
Mr. Callahan using the name of the
Callahan Mining Company, in which he
$ President, and joining with him Mr. /,
Joseph Boutin, brother of Mr. Frank
Soutin, brought an action against
our Company and our Board of Di-
ectors, alleging that the election held
Duluth was illegal; that their Board
t Directors, and not ours, should be in
ontrol of the Company: that there
'ould be fight between the two Z
'oards; that the property of the Com I
any would be destroyed, and asking I
nat a receiver be appointed for the 4
Dmpany until the court decided which I
GARD was legal The complaint in Tins ,
ction was, prepared in law office In T
pokane, on Friday afternoon, August $
It'll; the answer was prepared by Mr. q
outs Hanitch in the same office on che y
me afternoon, This answer was q
worm to by Mr.. Nelson, claiming to be g
e president of your Company, and in o.
$ answer he admitted" all of the al a
cations of the complaint and tacitly y
nsented that a receiver he appointed "a
r your Company &c
With this complaint and this answer M
refully arranged between the respec- az
e attorneys, they repaired to Wallace 'i'
aho, where they applied to Judge w
Gods, of the district Court; for the ha
pointment of a receiver Judge en-
pods not being advised by moving u'
pers that Mr.. Nelson and NJ. Hanitch pa
! no authority to represent your et'
mpany, at the request of these gem
men appointed Eugene r. Day, sw
eayy stakeholder and officer in COM ina
lies competing with your company, abb
eiver on Saturday afternoon. Aug pie
2S 1915. the
Up to this time, not one of your off, pre-
; had received any notice of this are
litigation. AS soon as such sha
Ice reached us in New York, we en- the
ed counsel in Spokane, who APP sec
red before Judge Woods at his per
lie at Occur dAlene City. Idaho, and ulai
ID him to give us an opportunity to
heard. To this he consented and COZ
ed stay against the receiver until M
.ember 3rd, when we made'a motto