The Seattle Star Newspaper, May 18, 1907, Page 10

: {= “the company, and wh ee a ae 10 SEATTLE-ALASKA COAL MINE » $ ‘i ‘ONTIN( ED FROM PAGE ONE ——__ “We did so in 1903, before any question had been raised as to the legality of corporations securing coal lands in this way. No one seems to know the exact legal status of these lands, and we do not know where we stand, although re cent rulings are against us. “These .natters have been fully explained to the stock holders, and since the withdrawal of the lands we have been trying to secure legislation which would enable the com pany to acquire the lands. We have not succeeded yet, but eel confident that the government will straighten this mat ter out right when the situation is fully explained ‘I have all the confidence in the world in the company, and will stand by it in any event. I have induced many of my friends to buy stock, because I had faith in the company and I expect to see that faith justified § oe ‘I personally filed on 160 acres of coal lands, as did i "er. Schram, Mr. Davis, Mr. Harriman and others." v History of Company # “The history of the Alaska Petroleum & Coal company } @oes not justify the confidence expressed in it by its pro ks of what is termed ording to the business Ived + a notable example of n financial and business circles nes and influence to speculative s of stock who were supposed to be in company and on the strength of 1, admit that they received nes, and pur cents per [gnoters and officers. ears the m P™high finance’’ or ‘ ® wtanding of the men ix jj] the practice of 1 ! Tending the use of th Ventures in rete < . Several pri terested in fina whose names m a large portion of their » @hased the remainder from the promoters at atting wk in return for ser ek was sold to the public at prices nts per shar Incorporated in 1902. ‘ ompany was incorporated on November 14, 1902 Zor $5,000,000, divided inte 5,000,000 shares at the par value bef @1 per share. Among the promoters of the company + Henry R. Harriman, Clark Davis, J. H. Miracle, TS (Lippy and R. J. Mahoney. The capitalization was based en 10,000 acres of oil lands, which have so far failed to ee, Clark Davis was the most active spirit in the organi gation and received 1,000,000 shares fo An other million shares went to other promoters and to off cers for the use of th . their service Thomas 8. Lipt lected president a ived 200,000 shares of » for his services. He bought 200,000 additional shares k Davis, paying him 5,000. i py did » the treasury of the company t from ¢ mpany one share for #1, te ors, making his on the ard of dire n the company 400,001 shares. Two Million Cut Up. The 2,000,000 shares which went to promoters and offi *eers were pooled, with the understanding that they would Ynot be placed on the market until January, 1904, and not it be sold eteepting under contract. From year to year his pool has been extended, but much of this stock has Some of the original pro hanged hands unde Emeoters have disposed « tically all of their holdings in \this way. $ Clark Davis is ¥ yrewident and general mahager 1,000,000 shares ¢ through of treasury stock has ' k Davis & Co al a tained a commission of 1 5 ‘ Ietock was first offered at 10 cents gained to 1214 cents. While the stock was in demand, some ‘gold as high as 40 cents : H.R. Harriman is secretary of the co and John tRehram the treasurer. Charles H. Baker, Robert Moran and , J. Hotchkiss are the trustees mip = Venture in Coal Lands The venture in co ny, who re ek sales. The and | ater ot made unt « nia was ft jafter the organizat compan Failing to loll, it was necessary to turn to some other source of wealth sto make good. According fficers and directors of the company sree i to take up lividual claims to coal lands and transfer them ¢ mpa Tt is said, upon tt rity of a forme stee that hese claims were assigned to the compan ar as they vould ‘be assi {| without actual title ' ents that the ngs and alle ‘ i It was on thes prospectus claim of ownership made ‘ The actual conduct of the compa honest, The money for the sale of treasury stock has ¢ into development work, aside from the tmmission which went to wtock, Consi t {developing th Althongh the t has been sold recently, the of the company for Jan showed stock sales du Much of the sto property was v's affairs has beev Clark » finances ary 1, 1907 » to $25,006 1 hands and it is now seat 1 H some 2,700 rs The compar laima assets far of liabilities Of these, the town site f Catella is nost valuable. its worth being estimated f #150, $300,000. This town site was obtaine rough t soldiers’ seript h the mpany could secure the the only 1 land at the Seattle-Boston Copper © Will Begin Shipments of Ore From : One of Its Tide Water Properties : by June 15th. Fy Word fron he ia putting « Zor the barse Bhipment rea Whe retarns fror ment to smelt $3.00 per ton ! while selected gives as high as ¢ $80.00 per. to f * go fe mpany upon this one dbase dete a A dint Wa soon ‘JAP GOVT. TAKES A HAND IN MANAGEMENT OF ALL TRUSTS CONTROL SPOKANE WY HAMILTON Wate wen kU abhs ae by BOOSTERS NOW ” COMPANY OWNS NO MINES | He named as his j nominated for police commissione of the Boosters’ club, bu the board of directe club, but was deter tude of the refractory Mayor Daggott's farewell declared that he had been * and winerooms. j moving the cu lf ber af ke Da ASAPAN. he TWwRLVEe " MILLION INCREASE. : Ip SBE / YOO (Sertpps Telegraph Service.) INDIANAPOLIS, Ind The tax commissioner# corporate asseeaments this year by over $12,000,0 PHOTO SPECIALS Photos for $3.00 Batu Se eeeeecreseree $1.60 Close weave$ FISH BASKET ¢ Three Piece fp Rod, firet quality STEWART'S 415 Pike St. FIRST BAPTIST CHURCH, BODY IDENTIFIED AS MRS. ELLIS »- COFFEE. day afternoon iden | * the woman found at THE ADDITIO Special Sale of SATEEN PETTICOATS; eeeeereseeres Special $1.15 PACIFIC OUTFITTING CO, pt yeaterday against » ° ~ . . . . . . . . . - . . ° . . . THIS ADDITION FURNITURE FoR sce Victor and Edison Talking Machines J aesb cca VIEW OF LAKE, MANY OF Til Seeond Ave., POPC O rene eeeeeeeeeeeee PANTS TO ORDER FOR #4 5 Hamilton Studlo Kohler & Chase Waldorf Rutiding MOO'TE UMYT KOMME ‘oo0'Te Seeeeeeeerereromerrerre RAID GAMBLING HOUSE PRAISED FOR ASSAULT A Portuguese gambling house, operated by Tony Becho, located at at rth av., wae raided by the police at an early hour this morn ing and eight tiger buckers arres ed. The house bas been under sur velllance for some Ume but the raid could not be effected soul this morning, owing to lack of evidence The arresta were made at the point of guoe by Officers Hadeen. Ryan, MeClure, Webster and Holmes, who sesured themseives that the men were gambling before entering the bourse IND ROCK wert HOONE'S INSCRIPTION ROCK FORT Ky May is A rock with the tnecriptte Dante) Boone March 22. 1772, carved upon it bas been found by D. W Whitner on his farm The ston was embedded between two roots & STATIONS Mone w “ ote * « wie erworke the i a3 rele searching for ar Rich and the world te with you. Poor and they pass you Good deal of truth tm that! Be independent of the world by saving Begin now—with us We Pay 4°/o Interest on Savings Accounts Breaches, Ballard, Reston, Georgctonm Jemes D. President. N. B; Bolner, Cashier DIRBOTORS mand Bohmite, J. D. Low Kmaousl fosenbers, A Ho stewart Novt < K. Dung Ho i James D. Hoge, N. B Solver, Union Savings & Trust Co. ot Avenae ond Cherry . Fer n = ae Cor, Se *, Neue Bt io, Wank Agents for Alneka Banking end Safe Deposit Nome Alaska ° | < e ALBERT HANSEN © Jewelry, Wetches, Cot Gines Tee————riner ay -——1t00 ON SALE SUNDAY AND ALL NEXT WEEK Green Lake Reservolr ADDITI Between Green Lake THE BEST ADDITION on the n et for the ¢ you can make a sma leape than other property nd much of it in be CLEAR COLD SPRING WATER THESE LOTS } beer nternational Bond 337 Pioneer Bidg. VAMINE HeLoe Mandan, ' three high #ehoo Thursday on @ charge of « Clarence Holden ta V ? a oka nytt ? B = z i eeeccercesces e = " bicken ranching $250 to $760 per tract WEST & WHEELER te THE BIGGEST AND oust The Sunday Post - Intelligencer MANY HIGH CLASS EXCLUSIVE FEATURES TOMORROW FINEST ILLUSTRATED MAGAZINE BEST COMIC SUPPLEMENT IN COLORS 50c PER MONTH Including the Big Sunday P.-I. i ? — 2 aefiee t , ' Hy be ne 1 entertainingly ? PS Order early fe} nearest newsdealer or telephone P.-I ¢, Pacific Exchange ; Independent 95 ie 2 > ad and ] payment down ar around here ealty GR Phone ind.