Weekly journal-miner., 1918-09-04
COPPER CO. CASE SETTLED
 OUT OF COURT
CHARLES CLARK RETAINS CONTROLLING INTEREST IN RED METAL FIRM AND PROPERTY WILL BE DEVELOPED.
(From Saturdays Daily)

Charles Clark of the United Verde Copper Company was settled in the Yavapai Superior court yesterday, a compromise having been effected whereby Clark is to return to the
 Hull treasury a block of 2,500,O00 shares of the company's stock for cancellation, and is to have his title quieted to the other shares in his pos session, totalling 5,lSl,l73. The shares remaining in Mir. Clark's possession are of sufficient number to insure his control of the Hull organization, however. and at the election of the 1 five members of the board of direct ors held yesterday afternoon, three men representing the United Verde interests were given berths in the new organization Robert Tally, gen eral manager of the United Verde Copper Company, is the new presi- dent, LeRoy Anderson, chief coun- sel for the United Verde, is secre- tary, while the directorate is com posed Of Messrs Tally and Anderson, Thomas Taylor, superintendent of the U. " smelter, George Kingdom gem eral superintendent of the United Verde Extension Copper Co.,, and John Page of Phoenix, former terri torial auditor of Arizona.
 Receiver Is Dismissed.
 According to the stipulation which was filed with Judge Lyman yester- day, each side Is to pay its own costs, and R. NJ. Hetherington of Prescott, recently appointed receiver for the Hull company is discharged from his official position. The Sl,000,000 sup ersedeas bond which the Clarks had ! been compelled to put in an order to stay the operation of the rcceivership was dissolved at the same time and the surities exoncrated.
 According to the statement issued yesterday afternoon by Attorney An dcrson, the minority interests in the Hull organization, the interests which
 brought the suit against Clark, will ' be represented on the new directorate , by Mir Page That the United Verde Extension is also to have voice in the management of the company IS indicated by the presence of Mir. | Kingdom on the board of directors.
 Copper Firms Bury Hatchet. The settlement of this famous mine suit, besides allaying the friction be- tween the Hull minority and the ! Clark interests, also marks what is unofiiciallv said to be the end of the long-standing trouble between the i United Verde organization and its big
 neighbor, the United Verde Exten- sion. Embodied in the stipulation is paragraph which provided for the dismissal of the suit which had been pending in the State Supreme court over the title to the Copper Chief claim in the Verde district Both the United Verde and the Extension had claimed the Copper Chief, the prop erty being very rich one, and the litigation had been of long duration.
 By the terms of the settlement made yesterday. the Copper Chief is to be divided about equally between the U. V. and the Extension. and the suit will be withdrawn from the high court.
 Development For Hull Property.
 Those who are familiar with the in- side Of the situation state that the Hull company will immediately lay plans for a campaign of operation, the affairs of the organization to be con trolled jointly by the United Verde and the Extension. There is but little doubt that the possibilities of the Hull property are practically un- limited. The group of claims, which is one of the largest in the Jerome district, iS known to possess large deposits of high-grade copper, and the development of the property is quite likely to add third big pro- ducing mine to the Verde district.
 Extension Backed Plaintiffs.
 The suit filed by Kemp was insti tuted during the fall of 1917. It wa, an open secret that the United Verde | Extension company was backing the minority stockholders in their efforts to dislodgc Charles Clark and his as sociates from the Hull organization. | Whether the Extension had planned | to acquire control of the Hull prop | crty is not known but at any rate Kemp is said to have been backed by the Douglas interests when he start ed his buster suit against Clark. The complaint filed by Kemp alleged that Clark had secured block of more than seven million shares of the treas ury stock from the late George Hull, who himself had come into posses sion of the shares in fraudulent manner by trading the Hull company a group of adjacent claims of doubt full value The Kemp interests held that inasmuch as Hull had obtained the shares in fraudulent manner and Clark had purchased them knowing of the means which Hull had used to get possession Of them. Clark should