Salt Lake Telegram | 1906-06-25 | Page 1 | Alleged Mining Fraud of Gigantic Proportions Checked in England; Conspirators Are Held for Trial

Claimed to Own Mining Properties in Utah and Elsewhere; Planned Raid on french Investors for $2,500,000 With Company That Does Not Exist. Claiming; to own mines in Utah, California, Colorado 1 'and New Mexico, Mark Anthony Young and Henry Jonas are in custody in London, charged with attempting to swindle the public through the American Mining, Milling and Smelting company, a corporation which, the English police claim, does jnoj exist. Correspondence of the two men seized by the po-: po-: . !ceshowed that Young and Jonas had on foot a plan to fleece French investors, of $2,500,000. ' LONDON, June 25. At the opening tof the prosecution today in behalf of the treasury at the Guild hall the Police Po-lice court ' case of .Mark Anthony Young and Henry Jonas.' local man- -agers of the American Mining, Milling and Smelting syndicate, who were arrested ar-rested June 18 on the charge of conspiracy con-spiracy to defraud the public by sending sen-ding valueless shares, K. D. Mulr, .counsel for the treasury, said the evidence evi-dence in the hands of the police indicated indi-cated that serious frauds had been committed. : Since January 19 the country had :- been flooded with flowery advertisements advertise-ments of the American Mining, Mill-' I ' lng and Smelting company, Furport- ing to own mines In Alaska, Califor- nia, Utah, Colorado and Mexico, which were paying 185 per cent interest. Documents . sent broadcast announced an-nounced that the net profits of the company for nine years were upward of $27,500,000, and that dividends totaling to-taling $12,500,000 had been paid. Sir. Mulr said he proposed to show that no such company existed. Mr. Mulr said the correspondence seized showed the defendants had on foot a scheme by which certain financiers finan-ciers in France were to put $2,600,000 into the concern and a similar plan was in progress from which a sum not so large was to be obtained In England. Eng-land. . After the presentation of evidence regarding the printing of circulars the hearing was adjourned. Mark Anthony An-thony Young was admitted to bail in $25,000. and Jones $6000.