NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2017 Oct 19 @ 08:00UTC-7 : PDT/MST
SHIPPING & HANDLING: Shipping and Handling cannot be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight
This is a historic find. Handwritten 1880s court document from M.N. Stone, attorney for the Sutro Tunnel Company. The Sutro Tunnel Co. is suing the Segregated Belcher Mining Co. The Segregated Belcher Mine was located in Gold Hill between the Overman and Belcher Mines. The company was formed by Robert Apple in 1865. It was a small producer during the 1860s and 1870s with work focused on the upper levels of the mine. They tried to explore the deeper parts of the mine from 1872-1880 with little success, and shutdown until the late 1880s. Enter the Sutro Tunnel. Envisioned by Adolph Sutro in 1860, chartered in 1865, the tunnel finally connected with the Savage Mine on Sept. 1st, 1878. This was too late to be of much use since production on the Comstock had declined. Given that many of the mines had signed contracts with Sutro in the 1860s and 70s, it should be no surprise that legal fights resulted from the long delayed construction. Part of the Sutro's deal in constructing the tunnel was a royalty agreement on ore brought out.
Here are the details for this case. Essentially, the Sutro claims that they fully complied with their 1879 Belcher contract. The original contract between the Sutro and the Comstock mines (mainly Gould & Curry) dates to 1866. In 1879, the Segregated Belcher signed their own contract. 1) The South Lateral Tunnel was constructed 171 ft into the Belcher claim in January 1882 with the required size, grade, and course, and sufficient railway and drainage. That the drainage ability is 4 times what is was required to be. 2) That a single track railway was all that was needed, citing the fact that the connection with the Savage Mine was only one track. That the 1866 contract required a double track but that the defendant waived this requirement in their 1879 contract. 3) Then describes in detail the agreed upon drainage system. 4) That the doctrine of "ultra vires" is invoked, meaning the Belcher committed acts "attempted by a corporation that are beyond the scope of powers granted by the corporation's objects clause, articles of incorporation or in a clause in its Bylaws, in the laws authorizing a corporation's formation, or similar founding documents. Acts attempted by a corporation that are beyond the scope of its charter are void or voidable." 5) Then discusses the agreed upon price per foot ($70) for the construction of the South Lateral Tunnel and associated royalties ("$2 per ton for all ores which might be extracted..."). 6) The Belcher claims Statute of Limitations but this is not valid. Signed by Stone as attorney for plaintiff.
So the Belcher appears to have not paid the cost of construction for the South Lateral Tunnel and is most likely not paying the ore royalties either. It appears that the Sutro Tunnel Co. won their lawsuit. Includes a detailed description of the lawsuit and appeal.
13.5" x 8.5" Toning and soiling. 28 handwritten pages. City: Virginia City State: Nevada Date: HWAC# 50955
Auction Location:
3555 Airway Drive Suite 309, Reno, Nevada, 89511, United States
Previewing Details:
Preview will be at our Auction Location,
3555 Airway Drive Suite 309
Reno, NV 89511
on Wednesday, October 18th from 10:00 am to 5:00pm or by appointment.
Please call 775-851-1859
Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
8.265% |
Nevada Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
24% |
Additional Fees:
| Fee | Amount | Applicable Locations | Applied To |
| Handling |
5.00
|
Not Applicable
|
This fee applies to the total of the invoice
|
Shipping Details:
SHIPPING & HANDLING: Shipping and Handling cannot be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
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This is a Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC).
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BE ADVISED: Auction participation through the live Internet bidding site is not 100% foolproof. The technology for this process is always changing, and the operation of it and the corresponding Internet connectivity issues are far beyond our control. Some folks have attempted to use the live Internet bidding process as their primary method of bidding, and have been quite successful. Others have failed completely. Depending upon your computer, server, host, and other factors, Internet signals may be delayed, such that bids may not be received in time. We cannot be held responsible for these delays, or for the lack of placed bids in a timely manner, or any other factors leading to unaccepted bids that are far beyond our control. Bidders should always have a backup plan for lots they highly desire. Live participation is best, followed by phone participation. We will not reopen lots for missed bids.
12. RESERVES: Most of the lots in this auction are unreserved. Gold is generally reserved at or near spot, though it could be slightly below spot.
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From:
To:
Increment:
$1
$95
$5
$100
$190
$10
$200
$475
$25
$500
$1,450
$50
$1,500
$2,950
$100
$3,000
$9,750
$250
$1,000
$30,000
$500
$30,000
Up
$1,000
14. BID REDUCTION: All winning absentee bids will be reduced, if necessary, to the next bidding increment up from the last competing bid, as long as the minimum bid requirement has been met. For example, if you submit an absentee bid of $1000 and the next highest competing bid is $250, then you will win the lot for $275.
15. BID INFORMATION: Collectors often ask in advance the price level of a particular lot. We will give out the current competitive high absentee bid until we close the day before the live auction. You may also view absentee bids online at www.holabirdamericana.com. While we try to update the absentee bids as often as necessary, bids received close to the bidding deadline might not be reflected online, and we disclaim any responsibility for any bids made in reliance upon inaccuracies on our website, which may be beyond our control. We do not own any of the live Internet bidding platforms, and thus many aspects of the Internet technology are out of our control.
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17. All stock certificates, checks, warrants, and other financial documents sold herein are sold as antiquities, and have no financial, securities, or public trading value whatsoever.
18. We reserve the right to reject any bid we feel is not made in good faith.
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21. SHIPPING & HANDLING: Shipping and Handling will be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
22. NON-PAYMENT: HWAC reserves the right to cancel any invoice not paid in full within 15 days. A cancelled invoice does not relieve the bidder from their obligation to pay seller fees and buyer’s premiums compensating HWAC for its services in conducting the auction. Interest shall run on all outstanding balances at the highest rate permitted by law. HWAC shall have a lien against the merchandise purchased by the bidder, and any other of bidder’s property then held by HWAC or its affiliates, to secure payment of the invoice, and with respect thereto HWAC shall have all the rights of a secured creditor under the Nevada Commercial Code, including but not limited to the right of sale. HWAC may sell the lot(s) securing the invoice to any underbidders in the auction that the lot(s) appeared, or at subsequent private or public sale, or relist the lot(s) in a future auction conducted by HWAC. A defaulting bidder agrees to pay for the reasonable costs of resale (including a 10% seller’s commission, if consigned to an auction conducted by HWAC). The defaulting bidder is liable to pay any difference between his or her total original invoice for the lot(s), plus any applicable interest, and the net proceeds for the lot(s) if sold at private sale or the subsequent hammer price of the lot(s) less the 10% seller’s commissions, if sold at an HWAC auction. If HWAC refers any invoice to an attorney for collection, the bidder agrees to pay attorney’s fees, court costs, and other collection costs incurred by HWAC. Any bidder who fails to follow the terms of payment will be reported to iCollector and may be barred from participating in future Holabird’s Western Americana auctions.
23. CONDITION: We strongly recommend that you attend the live preview to see lots in their entirety. Conditions are not always noted, and large lots may not be itemized due to catalog restraints. For questions, detailed information, or additional images of any lot please contact our office at 775-851-1859. Bidders are responsible for understanding the condition of items. Conditions noted are subjective, and may differ in the opinion of different people or collectors.
24. RETURN POLICY: All items are guaranteed to be authentic unless otherwise noted. If authenticity is challenged, please call our office for assistance. You may return any piece that was significantly inaccurately described by calling our office within 15 days of receipt of item(s) and notifying us of the error and reason for return. We do not refund postage or insurance. We have attempted to describe the items and their condition accurately. If no condition is given, assume average. Please call us if you require a more specific condition report. Any items that are returned must be returned in the exact, unaltered condition. NGC certified tokens that are returned must be original, unaltered NGC holders. Any tokens removed from the original NGC/NCS certification holders or items returned in an altered condition are deemed not returnable under any circumstances. When we receive your bids we will assume you have read the description in the catalog, viewed the image of the item, have contacted us regarding any questions you may have on any lot and/or have previewed the lot in person. Therefore, returns are only accepted if prior approval is given by Holabird’s Western Americana Collections.
25. This sale is being held under the laws of the State of Nevada, without reference to choice of law rules.
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