The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-01-19

James r.. Smith, president Of Hecla
and that she had been a trustee of tn
company practically since his death
OF about thirteen years. She remem
bered the original bond on the sta
and voted to turn it down because sh,
did not believe it would be valuabl,
to Hecla. She attended the meetinf
OF Hecla directors in Milwaukee or
May %, 1921, and that the letter writ
ten to the directors by Mr.. Mccarthy
was the first she knew of the Star
deal At that time she had no knowl-
edge that Bunker Hill owned the Star
and did not know that the proposition
was to buy a half interest from the
Bunker Hill. At the meeting Mr.. Nc
Carthy said nothing about the Bunker
Hill and nothing about the merits of
the Star. He had not engineers re-
port and no data except map He
read part of a long report by a man
whose name she could not recall. Mrs
Smith said there was no general dis
cussion and that all the directors ex-
cept herself seemed satisfied. and that
she voted against going into the deal.
She had not been invited to the San
Francisco meeting in April. 1921. She
denied that she had ever divulged any
confidential business of the company,
and had never told the Day interests
nor the Day newspaper anything
about the Star negotiations She first
understood that Heca and Bunker
were joining in the purchase; after
wards that the Bunker Hill was the
seller Mrs. Smith said she met Mr..
and Mr.. Mccarthy in the
Hecla office on August 10 and asked
to see report on the Star and was
told that all data was in Kellogg She |
went to Kellogg the following Sunday |
Mrs. Smith said she told Mr.. Bradley
she understood the Star was a zinc |
mine; that he told her it was lead to
which she replied that if il was a lead |
nine she would not object She was
shown maps and letters which she
laid she did not understand; was OPP
POSED to the purchase and did not
'now the contract to buy had been
gned until the answer to injunction
vas filed. At the meeting August IS
10 mention was made of contract with
bunker Hill At the meeting provis-
on was made to employ attorneys to
esist injunction. a dividend was de-
Jared and financial condition consid-
red. No mention of having paid ont
100 600.
Mrs. Smiths Bad Memory.
On cross examination by John Z.
ray Mrs. Smith gave evidence OF
aving a very unreliable memory. She
aid the Milwaukee meeting occupied
My about half an hour and that only ,
ne matter. the Star was discussed
he didn't know who made the map or
the report and didn't ask, as
made no difference. Something on
he map showed plan of development,
at she didn't understand it and could
1t recall any explanation. She had
ceived letter from Mr. Mccarthy, !.
At no statement was made in II about !,
,velopment and she didn't know how !,
was proposed. Mr.. Gray called her A
tention to the letter from which he \
ad that it was proposed to open the =,
ar by prosecuting from one of the :,
wer levels of Hecla, a distance of !,
90 or 5000 feet. of which she had no
collection. She did recall that div
end was declared at the meeting, and
ID that a consulting engineer was =,
lployed. but could not recall that it
IS Fred Searle, although she voted -
employ him. Mr. Gray read call for =,
e Milwaukee meeting on May 25 Civ A..
Z the purpose for which called. but
e was unable to recall among these
ything but the payment of a divi- -.
I'D and the Bunker Hill deal. al -
'ugh it also included the question of
reasing capital stock. employing ~
engineer and a representa- -
e to look after income tax. At the -
citing she said Mr.. Mccarthy read
'aper and exhibited a map in con-
'tion with the Star but they did not
'ress her for she didn't think the OF
r a good buy. She denied talking p''
anyone before the Milwaukee meet 20
about the business coming up at ~
meeting.
urther testing Mrs. Smiths mem Oh,
Mr.. Gray asked her about the OPP "a
on the Star in 1912. She said the taa
ter was brought up only once and Of
at an informal meeting in Chica-
Asked if it was not true that il J.
a regular called meeting of direc- p,,,
and that no one objected. and that ,ar
matter was further discussed at 49,
Vaukee, the witness replied that ~,
had no recollection. To refresh 10.
memory. Mr.. Gray read from the T.
ites of January 1. 1912. of a special a
ting in Chicago. giving the names ha
directors present, Mrs. Smith mi,
ng them: that a report on the star ,,os
read. The meeting adjourned to and
in Milwaukee on January Is. nj,
at which the Star was further Of
idered. but action deferred until veir
tional samples could be taken rs,
ling further from the minutes. ran,
Gray brought attention OF witness NJ
Getting of directors in Spokane -.