The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-03-31

of the litigation with the HeCla and
was rejected few days later about
the first of December last year, the
president of the Marsh company is
sued a letter to the stockholders ad-
visng them of the settlement by the
Federal and Hecla and explaining
the position of the Marsh. Regard
ing the offer made by the Federal the
letter said:
Fight to a Finish.
"The same day Geferring to the
Federal -Hecla settlement the Fed
eral company offered 100000 to our
company for a surrender of it's lease
and all its claims against the Hecla
This offer i'm the Judgment of the
trustees and such stockholders as il
was convenient to consult, was con-
sidered so insufficient that it was
promptly rejected. following which
the trustees Immediately took action
to continue the litigation and devel-
opment work, and push the same ag-
excessively to final conclusion"
Confidence was expressed that ar
rangements could be made TO finance
the litigation and thus relieve stock
holders from the major part of the
burden However IL was stated that
pending such arrangement and to
meet immediate requirements It
would be necessary to levy an as
sossment of cent per share to meet
immediate requirements This as
acssmont brought $4,000 into the
treasury According to a statement
published in Spokane since the settle
ment was made with the Hecla. the
Marsh company owes s125OO the
payment of which viii leave an even
500 600 TO be distributed among the
stockholders or to use i'm making
mine of the Marsh Having paid an
amounting to $4,000 since
the original offer was made. the
sl125OO paid by Hecla will actually
net the Marsh company only $50 600.
Cause of the Collapse.
The Marsh-Hecla settlement was
not surprising to those who have kept
informed on the case; in fact it has
been freely predicted during the past
few weeks, although it was thought
possible that Marsh would be able to
exact a larger payment There are
several reasons that contributed to
HE collapse the foremost of which
seems to have been the lack of funds
o finance the litigation and carry on
he necessary development work The
financial backing so confidently an
icipated evidently did not material
ne, and the prospect of having to
ely upon assessments to meet the
leavy demands in connection with ex-
cnsive development work and long
irawn out litigation that might last
throughout the life of the lease did
rot present q cheering outlook to
wen the most optimistic hackers of
Marsh This outlook was made even
more discoura ging by the fact so
stated that under the laws of Wash
rgton it would be impossible for the
Marsh to levy assessments in excess
If 10 cents per share. the par value
If it's stock being 25 cents. and that
cents has now been levied If this
s correct then the limit of the com
,any's resources through assessment
s cents per share or 100000 a
mall sum with which to make the
,reat legal fight that confronted it.
To make matters worse. according
. apparently reliable reports from
he work i'm the Russell claim. the
-ein that was being followed easterly
@ prove that its apex passed out
hrough the east end line Of the claim
vas lost about three weeks ago
through the action of fault, the
anne that was encountered i'm the
Iecla raise Failure to locate the
-ein. and the knowledge that if it was
TContInue5 on nag. q