| Show U BIG MINING OASE CASE Judgment of Lower Lover Sustained Sn in Action Actio Time Tho supreme mo court today to handed down an nn opinion confirming the judg mont of or tho time lower court In the ease case of ot Phoebe A Hearst and James 11 II gin v vs Time The Mining company et eta etal nl al a The action was brought to declare I null and rinel void old ix a 1 certain lease loa o and nn bond executed to 10 William M Perry Kerry Oct ct U 16 ISM 1895 Tho Time bond boat provided for tor or the tile pur chow cha e of the till property for tor time the turn Ium SUm of or orI OOOO I the lime lessor le flor to have 20 JO per rent remit of ot all nil ores orts extracted from ruin tho thu properlY property during the time life lite of ot the tho lease Mr Ir Kerry continued work lorl till Aug AU 15 1893 1891 when heing unable tumble financially to prosecute ulo further development ho hI assigned an tin undivided interest In lii time tho Ih lease to l Francis Smith and P D U V Mc 10 II n both hoth of ot whom are arc now dead on condition c that time tho Putnam company would IS I to the transaction A 4 stipulation of ot Uio lease nun imN that the time would Procure a 1 reduction on rum tho time purchase of ot the tho property from to tu r At tt the lime meet meeting ing Ino of or the Ih company lit sit which a majority of ot Ihl tima stock Will was represented lii trims f er r of the iii len lease leol tims UR duly ratified und amid time till III purchase e price reduced At this thus meeting the tho lease llISO was trims extended from Oct Got 16 1900 to 10 Oct Ocl 16 10 1803 1903 Time The lessor IR or did work worl on fill time Iho property to tho time amount of ot and then thon organized the Quin ry I 5 Mining company with a u capital of ot On flee Doc 0 G 1901 the thu Quincy qui 11 company bought the tho property for 60 patt of or which time the Putnam com coin company minim pany applied l on the debts deli tit anti with tin time there re paid a dividend amounting to Vi per cent per hult hultIn In lii oil alt this transaction the plaintiff alleges gM fraud and anti contend that they thy hind had special knowledge of or tho Iho ho value of the Iho property and were vere In collusion with time the party to whom the time bond band was given Some later the lite Quincy sold said out to tho time Duly Dilly for tor shares of ot Its ItH stock but before this tills time time tho had Imad distributed In dividends and has hus now In ill Inthe time the treasury In the time lower court tho the defendants denied donled every allegation In Inthe time the tho time denial wore were over overruled overruled ruled as no was wag also al o n mm demurrer Inter Interposed In posed POllOi by hy the tho defendants An Au appeal was taken to 10 tIme the supreme court commit re ro reuniting uniting suiting In tho time opinion here given The Tho opinion WM written ritten by Justice and lull was concurred In by the time other members of ot tho the court eburt |
