Show The Horn Silver In our report on the New York mining share market we printed a Salt Lake version ver-sion of the causes which led to Mr James T Littles resignation as treasurer of this company We now publish the statement of the president of the company Mr Allan C Washington as obtained from him This is simply a series of misrepresentations misrepresenta-tions said Mr Washington when shown tho Salt Lake story The facts of the case are these Our stock is nonassessable and in the course of a few months the ore now in sight in our mine will be worked out Wo may have to call on our surplus for prospecting expenses If we had paid out the cash in our treasury in dividends what would we then do Wo are sinking anew a-new shaft in the north end of the mine which is now down 157 feet and showing unfortunately no encouraging prospects If wo now pay dividends with no ore insight in-sight other than tho little that is left on tho sixth and seventh levels where can we get funds from 1 I have conferred with a number of the large stockholders who were I all adverse to dividends claiming that the interests of the stockholders are best sub served by thoroughly pecting the mine Nobody would give me a helping hand I when I was endeavoring to put the mine on I a sound financial footing but the moment I got it in that position they want to wreck itThe whole proceedings originated with a parcel of stock jobbers who have bought stock at the present low prices and who if they could get a dividend would slide out with their profit not caring what would become of tho mine Stockholders must bear in mind that when the present management man-agement secured control the company was In debt and within the year they have brought it from that condition to a substantial sub-stantial surplus The mine is being managed man-aged carefully and economically and if the directors are let alone in all probability within a year they will know whether they have a mine or not In regard to Mr Littles resignation he had tho surplus funds of the company deposited de-posited in the Deseret National bank of Salt Lake city of which he is a director When they amounted to 1500001 claimed i that the company should receive an income from it and that his bank should allow us interest upon it It was too large a sum to bo idle particularly as his bank was loaning loan-ing tho money out in their regular business and receiving interest upon it Mr Little seemed disinclined to do as requested and kept putting tho matter off until I ordered the funds remitted to New York and deposited de-posited them with tho United States Trust company where we are now receiving interest in-terest upon them Mr Little then resigned re-signed and on June 25th Mr A I Harrison Harri-son the companys secretary was appointed ap-pointed treasurer Knglnttring and Mln itio Journal |