Some Words to the Shareholders of the Comstock Tunnel Company

Cover Some Words to the Shareholders of the Comstock Tunnel Company
Some Words to the Shareholders of the Comstock Tunnel Company
Frank J Frank Jameson Symmes
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We are told (page 17) that "only about 800, 000 shares or $400, 000 subscribed under the call before the first of January, 1888 " probably all that could be expected in the time allowed. Again (page 18), we are told that "both prior and subsequent to Jan. 1st, 1888, Theodore Sutro made every possible effort to induce counsel to extend the time for payment but they wholly refused to do so. " And yet (page 31) we learn that " June 21st, 1888, the sum of $800, 000 was paid " for the mortgage. How
...is it that so much time could be had for the benefit of the Syndicate and so little offered to the stockholders ?
Page 19 of the Synopsis states, " Theodore Sutro de- termined not to cease his efforts to save the property of the Company to its stockholders, or to so many of them as still would subscribe to bonds, "and every invitation and every circular held out to the subscribers that. Buying 8 the bonds was to be in itself a most excellent invest- ment, and that by so doing the property was to be saved from foreclosure.


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