Mohave County miner and our mineral wealth., 1921-01-21
SCHUYLK|LL MINE
 LITIGATION HAS
 BEEN SETTLED

s. D. Stewart returned home Thurs day morning last from Los Angeles, where he has been since the first of the year in the settlement of the im- portant litigation effecting the Schuylkill mine. He brought back with him a stipulation paving the
 way for a complete settlement of the differences arising from the fore closure of the Garbutt mortgage and the vexatious tangle into which the
 affairs of the company were drift
 ing. Under the terms of the settle ment MT. Garbutt sells to Richard H. Cole his holdings in the Schuylkill company as we'll as all claim against the property. $40,0OO was paid on the bargain last Monday, and pay ments are to be met at different per iods until the full sum total is clear ed, the last payment to be met some- time in February, 1922.
 Some time ago Judge Crosby, of Navajo county, sitting for Judge Bol- finger, handed down an interlocutory
 decree foreclosing the Garbutt mort gage, but which would not become final until about IS months from date thereof. The terms of this decree will be met by Mrl Cole, but in the meantime the affidavit of bias again.
 st Judge Bollinger will be withdrawn
 and another judge will be called into the superior court to give lawful ef- feet to the settlement. The affidavits filed against Judge Crosby will also be withdrawn, clearing the record of all reference to the bias and prejudice of both judges. The settlement of the case has made it possible to form corporation with a capitalization of $10,000,000 to op-
 crate the property and the work of
 shaping up the mines for further de- velopment and the erection of new
 mill will be undertaken within the next thirty or forty days. The first payment of $40,000 has been made to MT. Garbutt as an earnest of the in
 tentions of the people back of the
 deal, and greater amounts are to be paid as they become due. Sufficient money has been guaranteed to not on- ly meet all payments on the old com
 pany indebtedness, but also to begin
 active and important work on the mines. A thorough-going mine man.
 ager will be sent to Chloride to take
 charge of the company's operations
 and to evolve a system for the reduc-
 tion of the ores. Nothing is to be
 left undone that will bring about the
 development of the mines and the put
 ting into commission of a mill that
 will effect the highest saving of the
 mineral values.
 The settlement of this important
 piece of litigation, which was second
 in importance only to that of the
 United Eastern-Tom Reed apex suit,
 is due to the efforts of MT. Stewart,
 who saw clearly what long drawn
 suit would lead to-the shutting down
 of the mines for several years, the
 loss of many thousands of dollars in
 lawyers fees and court costs, and in
 the end some settlement that might not suit either of the litigants. On this basis the first proposition for set clement was made and resulted in pro-
 posal and counterproposal until final
 basis for settlement was arrived at. Under the terms MT. Garbutt is to be reimbursed for account of his mort gage and will be secured, as will the
 other shareholders, for his interest in the company. At the same time the men who represented the minority shareholders will have chance to assert themselves and take over the mine for operation without inteffer- ence. They will have the advantage of securing a property that has enor- nous bodies of ore developed, and great estate to exploit. The shaft of the Tennessee has reached depth of 14OO feet, but there has been only small amount of development below the 900 level. At that point large bodies of high grade lead-zinc ore was opened and followed by winze to the 1900. Drifts have been carried off toward and into the ground of the
 
 much important development will be carried on in that part of the es- tate.
 There are several veins in the Ten nessee ground, one of which is very large. On the 900 level the stopes showed the vein to be eight feet thick, the ore carrying 259o lead and 25%o zinc. This shoot was over 200 feet in length. The other vein carried a big ore body, but the metal content was much lower. It is estimated that there are over 150,000 tons of mill ore available at the present time and that as much more can be opened on the various levels.
 The settlement of this important | cause will bring rejoicing to the good people of Chloride, as it will bring on an era of development to that camp that has not existed in many years.