The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-07-05
WANT NEW OFFICERS
FOR BLACK BEAR CO.
WENIGER VS.. BERNEER
Sheriff Makes a Vigorous
Appeal to Stockholders to
Protect Their Interests

II HE BLACK Bear Mines com
panN like Mount Etna, is again
i'm state OF eruption after sew
eial years OF quiesoence, during
which the smolderng forces of dis
content with the management have
been emitting occasional rumbling
sounds and which have now culmin-
ated in an explosion which appears to
he the forerunner of violent up
heaval in the company. However
these outbreaks have occurred before
and in the end the old management
was found doing business at the same
old stand. But it's going to be differ
ent this time according to Sheriff r.
r. Weniger stakeholder in the Black
Bear and who is now and for several
years has been a director of the COM
pany. The sheriff is not in habit of
starting something that he can't fin
sh, and he is very emphatic in stat
ing that he is not going to change his
custom in dealing with the Black Bear
situation. Sheriff Weniger has just
issued a letter to the stockholders of
the Black Bear company in which he
describes the condition of the COM
pany and asks the support of stock
holders in calling a special meeting
for the purpose of electing a new
board of directors, and assuring them
that if his plan is carried out Black
Bear stock will be selling for IS and
20 cents a share within sixty days and
that it will be possible to make an
attractive deal for the property. Sher-
if Wenigers letter is quite lengthy.
but is interesting from beginning to
end and is therefore published i'm fun:
Sheriff Wenger TO the Stockholders
Every person who buys stock or
invests money in a mining property is
entitled to a square deal and fair
run for his money; as a director of
the Black Bear Mines company. | de-
sire to ask the stockholders if they
think they are getting square deal?
81 will say they are not.
THE local stockholders Of the com
pany excepting only Mr. Bernier, are
unanimous in demanding that a
stockholders meeting be held for the
purpose of electing a new board of
directors, and ] have been requested
to call the attention of non resident
stockholders to the gross mismanage-
ment i'm the affairs of the company.
and to ask You to join with MS in
electing a board of directors who will
handle the business of the company
holders, and not in the interest of any
one individual or stakeholder as has
been the case in the past.
"Thc bylaws of the company pro-
vide that an annual meeting of the
stockholders for the purpose of elect
ing a new board of directors shall be
held on the last Wednesday in Feb
ruary Of each year. but no meeting of
the stockholders has been called or
held since February, 1920: since that
date, the majority of the board of di-
rectors have managed the business of
the company in the interests of one
man. regardless of the protests of To-
cal stockholders and the other two
members of the board. and they are
apparently satisfied to continue them
selves in Office without holding an
election. until the stockholders will
stand it no longer.
ut is to the interest Of every stock
holder in the company to make
change.
1.-THE bylaws of the company also
provide. that in the event an election
has not been held at the appointed
-ime such election may be held on
he petition of stockholders repre-
,enting one-half of the stock.
1.-THE officers of the company have
been derelict i'm their duties in not
falling a stockholders meeting as re-
luired by the bylaws of the COM
oany and the laws of the state of Ida
10, thereby perpetuating themselves
n Office against the best interests of
he majority of the stockholders
AT least once a year. each stock
holder of the company is entitled to
financial statement showing re-
,eipts and disbursements during the
previous year; as your present officers
nave failed to send the stockholders
my statement during the past three
7ears, will submit a copy of a state
nent handed to me by the secretary
/ few days ago. showing receipts and
for the year 1922, so
hat you may see where the money is
going:
Company Finances.
Wallace Idaho. January I. 1929.
Financial statement Of the Black
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