Show APPLICATION M CAUSES CONTEST BEFORE COMMISSION Association of George Graham Graham Ga- Ga Gaham Gra Gra- ham Rice With Mi Mining ing Deal Is Questioned The Th Bingham Galena Mining company's company's com corn pany's application to the s state tate securities commission for authority to dis dispose dispose dis- dis Ites pose poso of shares of its Is stock the maximum figure of th the sale to be 75 cents per share was heard herd yesterday afternoon and the hearing was not Concluded concluded con con- until 7 The application was taken under advisement and it Is la believed a decision will wi be rendered tomorrow It I was was a a. stormy meeting There were v-re v charges and counter cunter charges made But Dut two members of the commission were present resent They were II ir E. E Crockett Crocket secretary see sec fec- fec of state rend ad Seth bank commissioner Secretary H. H C. C Hicks was also pres present en t. t There was a vigorous protest made mado by the minority interests In the Sil Silver Silver Siver Si- Si Sil- Sil ver Shield Mining company whose as assets assets assets as- as sets have been taken over by the BIngham Bingham Dingham Bing Ding ham Galena Galena the protest being made by James A. A Hogle president of James A. A Hoglo Hogle Co by James H. H Wolfe Wole and Beverly Clendennin representing shares of Silver Siver Shi Shield ld stock MINORITY OBJECTS The Tho minority stockholders objected to the contract which had been made by the majority interests with a representative representative rep rep- of George Graham Grham Rice RIc de declaring de- de daring claring that the real question queston before the commission was as to the character char chr acter aeter of oC the man who was wa to sell sel the stock George Graham Rice Th They y also declared that shares of Bingham Bingham Dingham Bing Ding ham Galena was paid for the Silver Siver Shield and that Rice was wa to underwrite underwrite underwrite under under- write the tho deal deal These stat statements ment were re made by Wolfe and Clendennin attorneys attorneys ator- ator for the protestants Mr Hogle stated Many people come cometo cometo cometo to our offices every day who are interested interested interested inter inter- ested in local national and international conditions financially I did not learn until last Saturday that a contract had been entered into with Judge Dodge and that Harry Harr S. S Joseph had gone to toReno toReno toReno Reno and brought George Geore Graham Rice here her to underwrite the deal deal I SId said that it would be unfortunate to have George Graham Rice come here now nov and that it i would be calamity for George Graham Grham Rice to come to Salt Sal Lake and put over deals like this DEFENDS RICE In reply to this J. J S. S Barclay Barcay of Child Barclay Barcay Co who said he represented represented represented rep rep- resented shares of Silver Siver Shield averred that the fact that tat George Graham Rice is connected with wih the deal dea is why we have hav applications for shares of the stock at 25 cents per share Attorney Clendennin declared that I Iwas it i was the mission of the commission to investigate the character of Rice am and h he handed the members of the board boad boada a copy of a California newspaper which contained a story regarding the pro pro- moter meter Allen Alen T. T Sanford who represented the majority stockholders and an of official official official of- of of the Bingham Galena detailed the history of the purchase of the Silver Siver Sil Si- Si ver Shield by the Bingham Galena Galena stating that the contract by which Rice and associates were to underwrite the deal involving shares would bring brinl to the property of which would be used to liquidate obligations of the Silver Siver Shield and and leave about with wih which to de develop develop develop de- de the property GIVES HISTORY Mr Sanford continued The Bingham and Galena was In Incorporated Incorporated incorporated In- In for shares of wa stock The property now consists of the Silver Siver Sil Si- Si ver Shield holdings for which shares of Bingham Galena stock were paid this stock being beius held from the I market by pool agreements Additional land on two sides of the Silver Shield property was acquired one piece fo for shares of Bingham Galena and the other for OOOO shares of this sto stock k Stockholders of the Silver Siver Shield who were given the option opton to purchase Bingham Dinham Galena at 15 cents on a contract contract contract con con- tract holding for one year ear subscribed for shares hars Directors of the Bingham Bingham Bingham Bing Bing- ham Galena have subscribed for an additional additional ad ad- shares of Bingham Gal Gal- ena When the power company recently recent recent- ly cut off their service at the mine in default o oIa ota a bill bil of about an additional additional ad ad- share block of Bingham of-Bingham Galena was sold to meet that amount Th The piece of land for which shares were paid cost the sellers about abou Altogether shares of th the Bingham Galena have been put out fo for forthe forthe the acquisition of the tho land to m meet t the power bill bi and for other purposes purposes purpose Application Application Ap Ap- is sought for permission to sell sel the balance or shares und under un un- un- un I d tier der r the contract entered into wih with Mr I Rice and associates I Details of the contract by which Rice proposes to finance the company were not divulged this matter being In the I hands of the officials of the mining I concern and the securities commission |