The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-07-24
Stockholders Hold a
Stormy Session
Monday
BUTTE FACTION BOLTS
Regular Meeting Elects Di.
rectors, as Does the Butte
People

TarboX Mining company mas Oc-
cupied the center of the mining
stage this week. The efforts OF
the Butte faction, headed by Geo. L.
Gagnon, to oust Richard DaXon from
the management Of the company
reached the eliminating point last
Monday evening at the annual meet
ing Of the stockholders. The array of
legal talent at the meeting clearly in
dicated that both parties to the con-
troversy were prepared to make a de-
termined contest for control of the
meeting. Mr.. Gagnon was accompan-
led by two attorneys, James A.
Wayne, of Wallace, and w. T. Carroll,
Of Butte. Mr.. Daxon was represented
by c. L. Heitman, l. N. Smith and S.
S. Gundlach, all of Wallace. There
was also quite large repres sentation
of stockholders, particularly those
identified with the Butte faction. No
time was lost in precipitating the con-
flict. Immediately following the call
ing of the meeting to order by Mr..
Daxon, president Of the Tarbox COM
pany, Mr.. Carroll placed S. L. Boyd, of
Henderson, Mont, in nomination for
chairman. After much argument on
both sides, this motion was ruled out
Of order the contention of Mr.. Daxon
being that the first order of business
was to determine who We're entitled to
vote in the meeting. The secretary
thereupon proceeded to read the
names of the stockholders to deter
mine who were represented. Attor-
neys for the Butte faction protested
against this proceeding as irregular
and illegal while the action was up
held by the Daxon attorneys. The roll
call of stockholders was interrupted
by frequent objections and the argu-
ments consumed much time. Finally
the attorneys for the Butte faction re-
tired for conference following which
Mr.. Carroll made a vigorous protest
against what he termed the high
handed and Illegal proceedings, assert
ing that he represented majority Of
the stockholders, and since it was i'm
possible to get a fair hearing, he an
nounced that he and his associates
would withdraw from the meeting,
which they did
Proceed to Business.
Upon the retirement of the Butte
faction, the meeting proceeded with
the regular business 1t was found
that the stock represented in person
or by proxy amounted to $4,000
shares, or majority of about $4,000
shares of the issued stock. The fol-
lowing directors were elected: Richard
Daxon, Adam Lieb and r. E. Seysler,
of Wallace; w. W. Adams, Of Saltese
and John Lewis, of Taft. John F.
Ferguson was elected secretary-treas-
urer. Mr.. Ferguson is an expert ac-
countant who recently audited the
books Of the company. He is also
treasurer Of Shoshone county. MIR.
Daxon was reelected president and
Adam Lieb vice president.
Butte Faction Elects.
Following their withdrawal from the
regular meeting, the adherents Of the
Butte faction met in the parlors Of the
Samuels hotel and elected the follow
ing directors: George L. Gagnon, Of
Butte Frank J. Leudke and Peter
Baumgartner, of Saltese; Samuel L..
Boyd, Of Henderson, and William
Wallace, of Wallace. The Butte peo-
Pile assert that they have majority
of the shtock, and that since they are
unable to get fair representation, they
will apply to the court for the ap-
pointment of a receiver to take over
the property and it's affairs.
Efforts to Compromise.
In the afternoon Proceedings the
meeting attorneys for Mr.. Daxon call
ed upon the legal advisers of Mr. Gag
non and proposed compromise in
the interest of all stockholders. The
proposal was this: That the Butte
faction would be conceded two Of the
FIVE directors and that the manage
ment of the company should be placed
In the hands of an executive commit
tee of three, one of whom would be
Mr.. Gagnon or any one else satisfac-
tory to the Butte people. After con-
ference this proposal was turned
down, the Butte people demanding
four directors, the fifth to be F. j.
Davey, r. e. Seysler or anyone else
except Mr. Daxon. This was Of course
promptly rejected and the proceedings