Show the old telegraph mine waine walne suits great and K numerous an injunction granted and a receiver aked asked for two mullion million dollars involved buo owns the mune mine one of the most important mining suits suite or rather bundle of suits ever had in this thia territory and almost rivaling in magnitude those connected with the famous emma mine is now in process in the third district court before his honor chief justice schaeffer ner ier the claim of the plaintiffs so far fan as we have learned may be stated as follows on saturday last december at h a large number of suits were instituted in the third district court in this JE holden rolden who has held himself out as the owner of all the stock except a few shares in what is k known as the oid old rele graph mining company pany y the attorneys for the plaintiff plaintiffs being judge hiram himm A johnson of or new hew york hon L B R critchfield aud and judge J W tyler tier of cleveland ohio and marshal royle of this city have been enga euga geil kell for home nome weeks in the preparation of thess thesa cases which has been a very laborious work in consequence of the formation of new companies mid wid a ii 4 pur purchases chaRes of pr pre perty petty by ho holden men wen as claimed into which the proceeds of the oid old dalt graph allne aline amounting to as estimated have been part partially lally diverted it seems from the pleadings and affidavits on file that holden claimed in january 1875 to own about one fourth of the stock of the original company organized under the laws of michigan though it is alleged that prior to that time he had not nob paid for lor his stock and has never settled with the various companies pan pau lesof of which he was managing director or agent nor with the stockholders to procure a settlement and ascertain whether holden ever owned any stock is one object of the suits at the date last named certain persons lla IIA living ng in Cleveland anatole do Kalamazoo and mich cia cla claimed lined tined to 0 wn is dockam aunt ing to three fourths of the whole these persons and the michigan com companies paules sometime in november 1874 had bad placed these mines in the hands of holden to manage and work the same and it is claimed that during the following year he received as contributions and otherwise from the stockholders and companies about and in addition took from the mines about but that dur ing the same period he did not expend over for the mine mines and has never settled his accounts that in Dec december emter emier 1875 having directed his tunnel towards the ledge then being worked by the montreal company which it is claimed holden then knew all about and which has hat since been adjudicated in the district court as the property of the old michigan comp companies anies aDies holden left the mines and returned to cleveland and while there received information as is 61 almed claimed during the month of january 1876 of the progress of his hia said tunnel and that the lode iode which has since become famous was reached about the of said month mouth that subsequently on the and days bf said month and on the ard and ath days of february he purchased all the stock owned in cleveland being over one fourth of the whole it is also claimed that the certain knowledge he had of the great value of the mines he concealed from the cleveland parties and made certain representations to them which it is claimed were deceptive cep tive among others that the mines minea were wera not wor worth h over had bad not paid expense expenses sand and were not likely to be of much value and that large assessments would he be necessary that shortly thereafter he returned to utah stopping at kalamazoo on the way was wa and ner ff er ing the bix hix stockholders there 3 01 owning over two fifths 01 0 the then toek istock to buy their stock at forty cents on ou tle tie the doll doil arand araud arand likewise as is claimed conc cone a ing ins his knowledge which lie he bad had received from the mines from those parties this ofner offer ws was declined and holden proceeded to the mines as managing director and betwee between ia about the ath of february and the of may took ore from irom the immense lode which bad been discovered of the value of over A few lew days prior to tho the it of may the ibe six kalamazoo stockholders being moved thereto by rumor or otherwise met and agreed to send three of the officers to to see about the mines it is claimed that they knew nothing mines or mining but relied holden for truthful knowledge and so informed him and be he their guide they went into a tunnel and stayed about an hour and that holden represented to them that there ther ewas W as not more than woith of ore that he could count on that the pay roll for april was short and that an asce ase asre e in mut ut be levied to pay it they requested to beethe seethe see bee the books and accounts and were informed tha bookkeeper book keeper was away and he could not furnish a statement anait and it ia claimed that be he did not make known to the them in the amount omo owe taken out before that time at the same time be off er U the kalamazoo parties sixty bix nix cents for their stock it id Is also urged that soon after the said parties returned home holden made known to them that an assessment of 1500 had bee been n levied on them and a craft drawn on them for that amount and the result was that on the day of may holden obtained all the stock of said parties he life at that date having as is claimed taken from frum the mines ore to the value of almost of which they bad no DO knowledge through the said kalamazoo parties and in consequence of the same reports they brought from the mines a stockholder at detroit and another stockholder at grand rapids michigan were bought out in june and that through the same reports and other discouraging news from the mines and a thirty per percent cen con L assessment ses which holden claimed had been levied by the directors of the michigan com company pany paDy and payment ot which was deman demanded ded I 1 three other parties at detroit were bought out in october holden the then nasis as ia claimed having taken ore from said m mines ines of th the value evalue of it is further claimed that in may holden got possession of the books papers and seals of the old company transported them to utah and in some bome way held a 9 meeting on the woth of august in salt bait lake city and levied this 30 per cent assessment although althou gb as ia is claimed the laws of michigan do not operate here and the company had no office at salt lake city by the foregoing process it is claimed holden obtained about three fourths of the whole stock while manager of the companies and while in a fiduciary relation with the stockholders but four shares of stock held by a stockholder at toledo ohio were no not t obtained although as is claimed the thirty per cent assessment and other appliances were brought to bear this stockholder not nor being as is claimed acquainted with holden as were the others who had great confidence conti dence in him it is also claimed that after holden had failed to buy these four shares and the alleged illegal meeting of the Michi michl michigan gai gal company had bad been held here by holden these four shares were declared forfeited upon several grounds the principal alleged ground being irregularity in issuing the stock prior to this thia the owner of the four shares had been notified of and paid assessments asis as is claimed by a similar alleged illegal meeting it ia Is claimed holden nolden attempted to convey all the property of the old companies to the old telegraph mining and smelting smelling Sm elting company heie in view of the above representations the court allowed a temporary injunction and fixed the dinst to hear the motion for a receiver mr charles E bolton 0 D ford and L B kendall accompanied compa nied the attorneys to thi city and their vigilance and industry have bave greatly aided in the preparation of the eviden e A largo large number of telegrams and letters of doane and brown I 1 a rel etive to hohen holden and from holden hoiden to his clerk in cleveland are on falej nnie file and the are cu lous luus UL tive frauds or alleged fraud frauds to ar al enormous extent connected with the manipulation of various mine in this TI territory try have been numerous und nud udd have operated to a very great degrie to destroy the conn deuce of moneyed and busi busl business nees men and frighten capital away from this region if the case cape is a above represented in the huits pe bially dwelt upon above the ilien frauds areat gret and glaring glating have been committed committed the whatever hali hhall be found to be the truth in thebe these cases it is to be hoped that just decisions will reached by the court or courts carried into execution th that at dealing may and he be restored and the resources of Ferri tory be developed to the furtherance ohe the rance ranco of the public weal |