The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-03-06
SPRAGUE ON LITIGATION
Continued from Page one)

Continued from Page One)
every point and with all the vigor at
our command.
Stockholders have already been
apprised of the fight between the
minority and majority stockholders
of the Goldfield Merger Mines COM
panv, as a result of which a tempo
rary receiver was appointed for the
| company. Among other allegations
of the minority stockholders was
that there was collision and fraud
among the directors of the Merger
Mines company in the sale of the
Velvet claim to the Jumbo Elk. COM
pany, and in the sale of the Jumbo
Elk. stock given the Merger Mines
company in part payment of the Vel
vet claim. The receiver was asked
in order that suit might be brought
to annul the sale of the Velvet to the
Jumbo Ex., in case sufficient evil
dence to sustain such suit might be
found. A hearing to make the tenn
porary receiver permanent was set
for March l, but representatives of
the warning factions met and agreed
upon a postponement until April TO-.
At this conference an effort was
made to reach a basis of compromise
through the consolidation of the
Merger Mines, Booth, kewanas and
Jumbo Ex., the Booth at that time
declaring for the first time its claim
to apex rights both the Jumbo and
Merger Mines. George Wingfield,
president of the Booth and Kewanas,
md representing the Goldfield Con-
solidated, the majority interest in
the Merger Mines. met with the rep
~resentatives of the minority interests
of the Merger, at whose instance the
receiver had been appointed, and
they invited Mr.. Sprague, vice
president and general manager of
the Jumbo Ex., to participate in the
conference, the object of which was
to discuss consolidation and the ter
mination of existing and threatened
litigation. Mr.. Sprague refused to
enter the conference on the ground
that the Jumbo Elk. had perfect title
to the Velvet claim from the Merger
Mines company, and IN the other
hand did not concede any apex rights
in the Booth; therefore there was
nothing to compromise and no rea-
son for consolidation n the part of
the Jumbo Elk. Failing to enlist the
! Jumbo Elk. in a consolidation scheme,
it was agreed between the Merger
factions to postpone the forthcom-
ing trial from March 1 to April 10,
and try other tactics. The result
was the filing of an apex suit against
the Jumbo Elk. by the Booth three
days thereafter.
While it is the intention of the
directors of the Jumbo Elk. to waive
nothing to either the Merger Mines
or the Booth, we must be prepared to
and mining experts, after a thorough
understanding of the merits of the
case. We ask all stockholders, also,
to keep their minds open. 1t is not
the intention of your directors to
waive any of the rights of the Jumbo
ia. hui Is IL tHelT lHleHtlou, Oh lHe
other hand, to plunge the company
into any prolonged and expensive
litigation that might promise to be
fruitless. We are being attacked
from two sides through no fault of
our own. We have a hard fight, and
to win we must present a solid front.
We therefore ask the undivided con-
fidence and support of stockholders
on the pledge of answering fidelity
to their interests.