1.
February 13, 1903
Evening Times-Republican
Marshalltown, IA
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TRUST COMPANY FAILS Monmouth Trust and Safe Deposit Company at Asbury Park Closed Its Doors Today. Asbury Park, Feb. 13.-The Monmouth Trust and Safe Deposit Company, which had offices in the building occupied by the First National Bank, closed its doors today. The officials said this was done to prevent a run on their institution and at their own volition. They said they would reopen as soon as possible, and that the institution was in good shape. Excitement here is intense and crowds surround both institutions.
2.
February 13, 1903
Las Vegas Daily Optic
Las Vegas, NM
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U. S. EXAMINER TAKES CHARGE OF BANK. WASHINGTON, Feb. 13.-The First national bank of Asbury Park, N. J., was closed today by direction of the comptroller of the currency, and National Bank Examiner J. W. Scofield was placed in charge as receiver. The bank was closed because of losses which absorbed the surplus and undivided profits and seriously impaired the bank's capital. The bank's assets are of such a character that additional losses, it was feared would have resulted, which would wipe out the remaining capital. ASBURY PARK, N. J., Feb. 13.The Monmouth trust and safe deposit company, which had offices in the building ocupied by the First national bank closed its doors today. The officials of the trust company said this was done to prevent a run on their institution and that it was done at their own volition. Tity said they would re-open as soon as possible,per haps on Monday or Tuesday next, and that the institution was in good shape.
3.
February 13, 1903
The Topeka State Journal
Topeka, KS
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TO STOP A RUN. Trust and Safe Deposit Company Closes Its Doors. Asbury Park, N. J.,Feb. 13.-The Monmouth Trust and Safe Deposit company, which had offices in the building occupied by the First National bank closed its doors today. The officials of the trust company said that this was done to prevent a run on their institution and that it was done at their own volition. They said they would reopen as soon as possible, perhaps on Monday or Tuesday next, and that the institution was in good shape. The excitement here is intense and crowds surround both institutions. The closing of the trust company caused the greatest alarm as the savings of the poorer classes are deposited there.
4.
February 14, 1903
The Indianapolis Journal
Indianapolis, IN
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TROUBLE AT ASBURY PARK. National Bank Closed by the Controller-Run on Savings Institution. WASHINGTON, Feb. 13.-The First National Bank of Asbury Park, N. J., was closed to-day by direction of the controller of the currency and National Bank Examiner John W. Schofield was placed in charge as receiver. The bank was closed because of losses which absorbed the surplus and undivided profits and seriously impaired the bank's capital. The bank's assets are of. such a character that additional losses, it was feared, would have been sustained which would wipe out the remaining capital. The president of the First National Bank is George J. Kroeger. The institution had been under inspection for some time past, and it is understood efforts were made by the officers of the bank to save the institution by assessing the shareholders $30 on each share of stock. Some of the holders were willing to pay, but others were not, and the closing of the bank resulted. ASBURY PARK, Feb. 13.-The Monmouth Trust and Safe Deposit Company, with its headquarters in the building occupied by the First National Bank, closed its doors to-day. The officers of the trust company said this was done at their own volition. They said they would reopen as soon as possible, perhaps on Monday or Tuesday next, and that the institution was in good shape. The excitement here to-day was intense, and crowds surrounded both institutions. The closing of the trust company caused the greatest alarm, as the savings of the poorer classes are deposited there.
5.
February 14, 1903
The St. Louis Republic
Saint Louis, MO
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TWO FINANCIAL CONCERNS CLOSE THEIR DOORS. First National Bank and Monmouth Trust and Safe Deposit Company at Asbury Park, N. J. Washington, Feb. 13.-The First National Bank of Asbury Park, N. J., was closed today by direction of the Comptroller of the Currency and National Bank Examiner J. W. Schoffield was placed in charge as receiver. The bank was closed because of losses which absorbed the surplus and undivided profits and seriously impaired the bank's capital. The bank's assets are of such a character that additional losses, it was feared, would be sustained which would tal.. have wiped out the remaining capiTRUST COMPANY CLOSES. Asbury Park, N. J., Feb. 13.-The Monmouth Trust and Safe Deposit Company, which had offices in the building occupied by the First National Bank, closed its doors to-day. The officials of the trust company said that this was done to prevent a run on their institution. and that it was done at their own volition. They said they would reopen as soon as possible, perhaps on Mondav or Tuesday next, and that the institution was in good shape. The excitement here is intense, and crowds surround both institutions. The closing of the trust company caused the greatest alarm, as the savings of the poorer classes are deposited there. The president of the First National Bank is George J. Kroeger. The institution has been under close scrutiny for some time past, and it is understood was made by the officers of the bank to save the institution by assessing the shareholders $30 on each share. Some of the holders were willing to pay, but others were not, and the close of the bank resulted.
6.
February 14, 1903
The Savannah Morning News
Savannah, GA
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TO PREVENT A RUN CLOSED ITS DOORS. Asbury Park, N. J., Feb. 13.-The Monmouth Trust and Safe Deposit Company, which had offices in the building occupied by the First National Bank, closed its doors to-day. The officials of the trust company said this was to prevent a run on the institution. They said the institution was in good shape. The excitement here was intense, and crowds surrounded both institutions.
7.
February 14, 1903
Omaha Daily Bee
Omaha, NE
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IN IS RECEIVER CHARGE First National Bank of Asbury Park, New Jersey, Closed by the Comptroller. WASHINGTON, Feb. 13.-The First National bank of Asbury Park, N. J., was closed today by direction of the comptroller of the currency, and National Bank Examiner J. W. Schofield was placed in charge as receiver. The bank was closed because of losses which absorbed the surplus and undivided profits and securities and impaired the bank's capital. The bank's assets are of such a character that additional losses, it was feared, would have been sustained which would wipe out the remainder of the capital. ASBURY PARK, N. J., Feb. 13. -The Monmouth Trust and Safe Deposit company, which had offices in the building occupied by the First National bank, closed its doors today. The officials of the trust company said that this was done to prevent a run on their institution and that it was done at their own volition. They said they would reopen as soon as possible, perhaps on Monday or Tuesday next, and that the institution was in good shape. Excitement here is intense and crowds surround both institutions. The closing of the trust company caused the greatest alarm, as the savings of the poor classes are deposited there.
8.
February 15, 1903
New-York Tribune
New York, NY
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TRUST COMPANY CLOSED. Asbury Park Concern Does Not Keep Promise to Open. NO CRIMINAL LIABILITY. [BY TELEGRAPH TO THE TRIBUNE.] Asbury Park, N. J., Feb. 14.-Despite assurances of the officials of the Monmouth Trust and Safe Deposit Company last evening that business would be resumed as usual this morning, the doors of the institution remained closed all day. Furthern.ore, the officers declined to make any official statement, Just before noon James R. Vredenburg, a State bank examiner, arrived with two assistants and at once began to examine the books and securities of the trust company. This afternoon Mr. Vredenburg said: "Until our investigations are completed, which will be a matter of two or three days, no statement of the condition of the trust company will be issued." As early as 8 o'clock this morning depositors besieged the locked doors of the trust company. By 9 o'clock the corridor was crowded, a majority in the throng being women. The trust company's officials said late last night that there was no financial connection between the First National Bank and the Monmouth Trust Company that would imperil the standing of the latter institution. They would not deny, however, that the trust company might suffer through the bank's failure. Bank Examiner Schofield, who is now in charge of the bank, declined to make public the financial condition of the institution, but he volunteered the information that he did not think there would be any call on the stockholders to make up any deficiency-that the assets of the bank would equal its liabilities. The sudden closing of the bank, it is said, was precipitated by the demand of the Controller of the Currency that the real estate held by the bank be turned into cash at once. This the bank could not do at the time without a sacrifice. The bank has been in poor condition for several years back, but it has lost no money, it is asserted, for the last eighteen months. The depreciation in value of real estate taken about ten years ago, together with losses sustained through several big local failures, it is declared, absorbed the surplus of $70,000 and the undivided profits. According to reliable information, the bank is crippied to the extent of about $325,000, and it is declared that the assets, if they do not equal this amount, will tall not more than $30,000 below it. The bank had about 800 depositors. Mr. Schofield says that thus far his examination reveals nothing which would show any criminal conduct on the part of any one connected with the bank. Late this afternoon President Twining of the trust company and President Kroehi of the bank were in conference with Henry Steinbach, a wealthy merchant of this city, who represented several business men who are willing, it is said, to assume the obligations of the closed bank and reorganize the institution on a sound financial basis. The proposition was submitted to Receiver Schofield, who telegraphed to Washington. If a favorable reply is received the bank will be reorganized at once and be ready for business next week The closing of the First National Bank and the trust company has not affected the Asbury Park and Ocean Grove Bank in the least. The latter concern was open as usual this morning, and there was no run. On the other hand, thousands of dollars were deposited and several new accounts were opened. A. Patterson, one of the directors of the trust company. left here for Jersey City on the noon train. Before ne departed he said: "Just how much money was advanced to the Frazer Mountain Copper Company of New-Mexico, which was promoted by President Twining of the trust company, I cannot say. The city of Asbury Park and James A. Bradley are among the depositors in the First National.
9.
February 16, 1903
New-York Tribune
New York, NY
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TALK OF A RECEIVER FOR ASBURY BANK. (BY TELEGRAPH TO THE TRIBUNE.] Asbury Park. N. J., Feb. 15.-Unconfirmed rumors are afloat that the stockholders of the First National Bank will ask the government to appoint Edmund Wilson, a. Red Bank lawyer. receiver for the institution. Officials of the Monmouth Trust and Safe Deposit Company to day declared they could not say when the concern would open again.
10.
February 17, 1903
Evening Star
Washington, DC
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Application for Receiver. TRENTON, N. J., February 17.-Attorney General McCarter today made application before Vice Chancellor Reed for the appointment of a receiver for the Monmouth Trust and Safe Deposit Company of Asbury Park. The application was made on behalf of the bank and insurance department.
11.
February 18, 1903
The Birmingham Age-Herald
Birmingham, AL
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Receiver for Trust Company. Trenton, N. J., February 17.-Application for the appointment of a receiver of the Monmouth Trust and Safe Deposit company of Asbury Park was made today before Vice Chancellor Reed. The liabilities of the company are given as $529,168; assets, $485,049.
12.
February 23, 1903
New-York Tribune
New York, NY
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SAY TRUST COMPANY MAY BE AIDED. It Is Reported in Asbury Park That Colonel Harvey and Others Will Help It. [BY TELEGRAPH TO THE TRIBUNE.] Asbury Park, N. J., Feb. 22.-Hopes are now entertained here that the depositors of the crippled Monmouth Trust and Safe Deposit Company will not suffer any considerable loss through the closing of that institution. Colonel George B. M. Harvey, of New-York, is the vice-president and one of the directors of the trust company. He is, it is said, the heaviest stockholder. Other capitalists who are shareholders are William C. Whitney, A. S. White and George W. Young. Mr. Young is president of the United States Mortgage and Trust Company of New-York City. It was given out here to-day that these financiers will come to the aid of the company and reorganize it. Recent developments show that the First National Bank is in better financial condition than the preliminary report. indicated. In that document the receiver stated that nearly $260,000 of the assets of the bank should be classified as "doubtful." Since the report was sent to Washington $30,000 of these "doubtful" claims have been paid, and several other large sums are promised this week. If half of the "doubtful" claims are collected, as now seems likely, the bank depositors will receive dollar for dollar. without any further assessment being levied on the stockholders. The hearing on the application for a receiver for the Monmouth Trust Company will be held on Tuesday at Trenton. The officials of the company are urging the appointment of Senator Oliver H. Brown, of Spring Lake. but the depositors, headed by Counsellor Charles E. Cook, will urge that a local man be named.
13.
February 26, 1903
New-York Tribune
New York, NY
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MONMOUTH TRUST COMPANY OFFICIALS ARRESTED. CHARGED WITH FALSIFICATION OF STATEMENTS TO BANKING COMMISSIONER- FAILURE HERE. DUE TO ASBURY TROUBLE PREFER THREE CHARGES Twining's House Searched While G. F. and P. Krochl Assign to Protect Creditors. Wife Lay Seriously Ill. George F. and Percival Kroehi, trading as Asbury Park, N. J., Feb. 25.-Just as the exHenry Kroehl, importers and dealers in bristles, citement attending the collapse of the First at No. 220 Pearl-st., assigned to Henri PressNational Bank and the Monmouth Trust and prich yesterday. George F. Kroehl, the senior Safe Deposit Company had somewhat subsided member of the firm, is president of the First the community was startled again this noon by National Bank of Asbury Park, and is a director the arrest of President Albert C. Twining and of the Monmouth Trust Company, both of Treasurer David C. Cornell, of the trust comwhich concerns have suspended. pany, growing out of charges of falsification of John C. Robinson, of No. 115 Broadway, who statements to the State Banking and Insurance is attorney for the assignors, said yesterday that Commissioner. the assignment of George Kroehl, the senior There are three charges against Twining. in member of the firm, was attributable to his two of which Cornell is jointly charged with him offici ! connection with the two suspended comas taking part in offences alleged. The two panies, and was fled to protect his creditors. joint charges are that on December 12 Twining "Mr. Kroehl's assets," he added, "are $215,791; and Cornell submitted a false report to the his liabilities, as near as we can figure, $148,200; State Commissioner of Banking and Insurance so there is a handsome balance left. Although as to the condition of the trust company at the we think it hardly possible, his liabilities may close of business November 25. 1902; and also amount to considerably more, and he has asthat on January 20 the two submitted a false signed without a dollar of preference to any statement at the close of business December 31. creditor. 1902 The other charge against Mr. Twining "The estimate of Mr. Kroehl's liability by alone-is tlat he submitted a false statement as the representatives of the two suspended comto the number of outstanding certified checks at panies is, however, much in excess of his own the close of business December 31. The latter estimate, and their claims will be contested." charge is believed to be closely connected with The firm of Henry Kroehl is well known in the mysterious purchase of the 381 shares of the the trade, and has been in business nearly fifty First National stock on February 13. years. President Twining was apprehended as he was
14.
March 12, 1903
The Indianapolis Journal
Indianapolis, IN
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will operate on a daily schedule between Manistee, Ludington and Milwaukee, and it is thought Two will operate between Manistee and Chicago and Milwaukee and Chicago. The purchase price is not named. The trustees of the Cincinnati Savings Society announce that the depositors in that bank have voted in the majority to merge with the Union Savings Bank and Trust Company. As the Cincinnati Savings Society is a mutual company and a merger can only be accomplished by it first liquidating, the trustees have recommended that the society be liquidated and have called a meeting of the depositors to be held June 16 to vote upon it. The assets of the Cincinnati Savings Society amount to nearly $6,000,000, and those of the Union Savings Bank and Trust Company $11,000,000. J. E. Lanning, as receiver for the Monmouth Trust and Safe Deposit Company, of Asbury Park, N. J., has made application for the appointment of a receiver for the Monmouth Realty Company, also of Asbury Park. The liabilities of the company are given as $99,000 and the assets $73,000. The assets consist principally of the bank and office building in which the Monmouth Trust and Safe Deposit Company was located. The trust company owned $45,000 of the $46,000 capital stock of the realty company. George H. Kroehl is president and Albert Twining vice president of the realty company. Both were officers of the trust company. Chancellor Magie granted a rule to show cause March 24. Speaking at a meeting of the Association of French Industry and Agriculture Wednesday night, former Premier Meline said he thought that there were some indications of a termination to the long European industrial crisis, which had been due to overproduction, the fall in the price of silver, the American trusts, the German cartels and other causes. He declared that if the American trusts continued their operations the European nations would be compelled to take defensive measures against them, and he advocated as a remedy the formation of small trade combinations like those which served to unite German industry and the permanent establishment of French business houses abroad on German lines. The annual meeting of the stockholders of the American Tobacco Company was held Wednesday in Jersey City. The old board of directors was re-elected, with one exception, Charles N. Strotz being chosen to succeed Thomas F. Jeffries, of Richmond, Va. After deducting all charges and expenses the net earnings for the year were $7,450,574. The stockholders of the Consolidated Tobacco Company also held their annual meeting. The old board of directors was re-elected. The report of the assistant treasurer showed total earnings of $13,291,459. At the annual meeting of the Continental Tobacco Company the old board of directors was re-elected. The treasurer's report showed net earnings, after deducting all charges and expenses, of $11,777,934.
15.
April 14, 1903
Wausau Pilot
Wausau, WI
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News of Minor Note. The Supreme Court of Ohio declared constitutional the State local option statute. Prince Henry of Prussia suggests as a suitable motto for automobilists: "Love thy neighbor as thyself." Senator Tillman of South Carolina in a speech at Detroit alluded to Sherman's army as "bummers, chicken thieves and carpetbaggers" and was violently hissed. Jack Pierce shot and killed Mrs. Barney Hedigar and a man named Patten and then killed himself at Gilt Edge, Mont. The men had quarreled over the woman. A. G. McCann, a Union Pacific striking machinist, who was on picked duty near the shop yards at Omaha, was shot and dangerously wounded by Fred Root, a strike breaker. Major Henry W. Morrow has reported for duty as judge advocate of the department of California, taking the position made vacant by the death of Col. J. N. Morrison last December. Edward Vandeventer, aged 33. member of a prominent family at Mound City, Mo., was killed near there by the explosion of several sticks of dynamite used in killing fish in the Missouri river. Michael Hunt, a waiter of Tacoma, and Frank McClusky of Lake City, Ore., were found dead in a refrigerator car. They built a fire in the car and went to sleep, being smothered and burned. John E. Lanning, receiver for the Monmouth Trust and Safe Deposit Company of Asbury Park, was appointed by Chancellor Magie at Trenton, N. J., receiver for the Monmouth Reality Company, the stock of which is owned by the trust company.
16.
December 5, 1903
Albuquerque Weekly Citizen
Albuquerque, NM
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in New Mexico, also El Paso and Trin idad to Santa Fe. Dates of sale will be December 27, 28 and 29; good for return passage until January 4, 1904. A Receiver is Appointed.-In the case of John E. Lanning, receiver of the Monmouth Trust and Safe Deposit company of Ashbury Park, New Jersey, versus the Frazier Mountain Copper company, William Frazier, Albert C. Twining, the First National bank of Santa Fe, and Thos. Wheeler and all unknown heirs of John R. Wheeler, deceased, for the appointment of a receiver and to create a trust for the Monmouth Trust and Safe Deposit company, Assoclate Justice John R. McFie yesterday appointed Frank Staplin of Taos. receiver for the company. A temporary bond was required and is furnished by the American Bonding company of Baltimore. The bond was approved and Mr. Staplin was authorized to enter upon the discharge of his duties. Mr. Staplin upon returning to Taos will take charge of the business and manage it. Mr. Staplin is in this city today to consult with W. B. Childers upon legal matters connected with the companies. The Mnomouth Trust and Safe Deposit company is a large creditor of the Frazier Mountain Copper company and hence the suit.
17.
December 8, 1903
Las Vegas Daily Optic
Las Vegas, NM
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Important Ruling: Judge McFle Saturday morning entered an order in the case of John A. Lanning, receiver of the Monmouth Trust and Safe Deposit company of Asbury Park, New Jersey, versus the Frazier Mountain Copper company et al., directing the receiver of the company, Frank Staplin, to take possession of four carloads of copper matte, about 70,000 pounds now at Tres Piedras for shipment to the Argoe smelter at Denver, to collect the proceeds of the shipment and to deposit the same, which it is believed will amount to about $9,000 in the First National bank of this city to hold the same awaiting further orders of the court in the pending litigation.
18.
December 10, 1903
Red River Prospector
Red River, NM
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Hon. Frank Staplin of Taos, App inted Receiver. In the case of John E. Lanning. receiver of the Monmouth Trust and Safe Deposit Company of Ashbury Park, New Jersey, versus the Frasier, Albert C. Twining Monntain Copper Company. William Frasier, Albert C. Twining, the First National Bank of Santa Fe, - Wheeler, and all unknown heirs of John R. Wheeler, deceased, for the appointment of a receiver and to create a trust for the Monmonth Trust and Safe Deposit Company, Associate Justice John R. McFie this morning appointed Frank Staplin of Taos, receiver of the company. A temporary bend was required and is furnished by the American Company of Baltimore. The bond was approved this morningand Mr. Staplin was authorized to ent er прon the discharge of bis dufies. Mr. Staplin upon repturning to Taos, will take charge of the business and manage it, He left this afternoon for Albuqurque to consult with W. B. Childers, Esq., upon legal matters connected with the companies. The Monmonth Trust and Safe Deposit Company is a large creditor of the Frasier Moantain Copper Companv and hence the suit.-Santa Fe New Mexican.
19.
December 26, 1903
Santa Fe New Mexican
Santa Fe., Santa Fe, NM
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WM. FRASER MAKES REPLY In Suit of Lanning vs. Fraser Mountain Copper Company.-Denies Allegations in Complaint-Asks for Protection of His Rights. In the District Court of the First Judicial District for the County of Santa Fe, suit was brought today by the Pueblo of Laguna vs. George Hill Howard, et al., to recover principal and interest on a note for $200 given to Toribio Kowurio on October 4, 1897, and which is now the property< of the pueblo. Process was issued today out of the District Court of the First Judicial District for the County of Taos in the case of William L. McClure, trustee, vs. Juan Santistevan et al., for William Fraser, beneficiary. to foreclose a mortgage given by Juan Santistevan upon his residence, store building and lands at Taos. The complainant prays that the assignee be required to pay off the mortgage as alternative relief. William Fraser, one of the defendants has prepared answer to the complaint of John E. Lanning, receiver of the Monmouth Trust and Safe Deposit Company of Asbury Park, New Jersey, S in the suit involving the Fraser MounV tain Copper Company. The answer is 1 very long, covering 39 typewritten V pages. It denies the allegations of n fraud and collusion between A. C. C Twining, former president of the Fra t ser Mountain Copper Company and F William Fraser, in the procurement of t loans from the Trust Company and in o the sales of stock, and it shows that at ON the time the said loans were made. t Twining was indebted to Fraser upon t the escrow agreement for the sale of n the mines affected and that since the T time these loans were made not one V dollar has been paid to Fraser on the il escrow agreement. Mr. Fraser asks e that the complaint be dismissed as to d him and that the escrow agreement S be declared void and of no effect for ti failure to comply with the terms of a the agreement, and alternatively he tl asks that he be given a prior and sud perior lien upon the property involved ti for the purchase price unpaid. The ta answer of Mr. Fraser shows upon its W face that the charges made in certain b New York newspapers that the Fraser t1 Mountain Copper Company went into the hands of a receiver because it was st a "snide" concern with no ores to jusW tify its operations is unfounded, and e: on the contrary shows that the propfi erty is very valuable and if it has been la wrecked, which is denied, that condibi tion resulted from doings at the eastW ern end of the enterprise and not on de the New Mexico end, as to which, however, he disclaims any knowledge.
20.
January 2, 1904
Albuquerque Weekly Citizen
Albuquerque, NM
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# FRASER MAKES REPLY
IN SUIT OF LANNING VS. FRAZER
MOUNTAIN COPPER COMPANY-
DENIES ALLEGATION IN COMPLAINT.
In the district court of the First
Judicial district for the county of
Santa Fe, suit was brought Saturday
by the Pueblo of Laguna vs. George
Hill Howard et al., to recover prin-
cipal and interest on a note for $200
given to Toribio Kowurio on October
4, 1897, and which is now the prop-
erty of the pueblo.
Process was issued Saturday out of
the district court of the First Judicial
district for the county of Taos in the
case of William L. McClure, trustee,
vs. Juan Santistevan et al., for Wil-
liam Fraser, beneficiary, to fore-
close a mortgage given by Juan San-
tistevan upon his residence, store
building and lanes at Taos. The com-
plainant prays that the assignee be
required to pay off the mortgage as
alternative relief.
William Fraser, one of the defend-
ants, has prepared answer to the com-
plaint of John E. Lanning, receiver of
the Monmouth Trust and Safe Deposit
company of Ashbury Park, New Jer-
sey, in the suit involving the Fraser
Mountain Copper company. The an-
swer is very long, cover ag thirty-nine
typewritten pages. It denies the alle-
gations of fraud and collusion between
A. C. Twining, former president of the
Fraser Mountain Copper company and
William Fraser, in the procurement
of loans from the Trust company and
in the sale of stock, and it shows
that at the time the said loans were
made, Twining was indebted to Fraser
upon the escrow agreement for the
sale of the mines affected, and that
since the time these loans were made
not one dollar has been paid to Fraser
on the escrow agreement. Mr. Fraser
asks that the complaint be dismissed
as to him, and that the escrow agree-
ment be declared void and of no ef-
fect for failure to comply with the
terms of the agreement, and alterna-
tively he asks that he be given a prior
and superior lien upon the property
involved for the purchase price un-
paid. The answer of Mr. Fraser
shows upon its face that the charges
made in certain New York news-
papers that the Fraser Mountain
Copper company went into the hands
of a receiver because it was a "snide"
concern with no ores to justify its
operations is unfounded, and on the
contrary shows that the property is
very valuable, and, if it has been
wrecked, which is denied, that con-
dition resulted from doings at the
eastern end of the enterprise and not
on the New Mexican end, as to which,
however, he disclaims any knowledge.