Show SAVING A COMPANY in this day and age of trusts and combines bines s when the motto is the public be damned and each man for himself and the devil take the hindmost one it is not surprising to hear that the heads of some mining companies deliberately plan to beat their stockholders to freeze out the shareholder and by hook or crook using means despicable and unlawful to secure to themselves complete ownership in properties which are possessed of intrinsic value and future prospects such as to justify the belief that they will develop into big producing and dividend paying mines an instance of this kind has developed itself in the near vicinity of rhyolite nevada a here a company has a well developed property with large volumes of good milling ore in sight a fine ten te i n stamp stain p mill with cyanide annex the mine has been productive duc tive the mill has been turning out bullion and yet under evident mismanagement the proposition has not been a paying one the company is in debt and this debt was incurred by the manager without the consent or knowledge of the board of directors of the company a forced loan as it were made by the manager who evidently thinking he has a strangle hold on the company at a meeting at which a quorum was not present and without any action of the board having actually been taken announces that a leasing company has been formed which will absorb the mining company soul and body and proceeds to carry out this big steal as if he had absolute control of the company and of its property in this however this gentleman reckoned with a host for the herald of rhyolite has thrown down the gage of war and a smell of rotten manipulation has gone out until every stockholder in the company almost now has his war paint on and proposes to see if it is possible that he can be robbed in broad daylight by one man and a minority stockholder at that at rhyolite a committee has been formed and active measures have been taken to preserve the companas comp anys property for its stockholders and rather than have it absorbed in this highhanded high handed manner it is pio proposed posed to ask for a receiver in which event the gentleman referred to will have no more power than any one of the com banys shareholders who have gone into this enterprise in good faith the latest from the scene of war is that a truce has been declared and that measures will be taken to preserve the property of the company for its shareholders and to place it in a position where it can be made both productive and profitable this saving of a company is an tion of the power of the press had the herald not raised its warning voice and brought out its big club there is but little doubt but that this beautiful swindling scheme would have been carried on to a successful finish |