Scadden

In 1878 Henry Scadden, Thomas Scadden, and Richard Roberts were the owners of the Scadden Flat Quartz Mine, near Grass Valley, in Nevada county, the interest of each being an undivided one-third. In August of that year a corporation was formed under the name of “Scadden Flat Gold Mining Company,” each of said owners and A. B. Brady and John Tremberth being named in the articles of incorporation as the directors to serve for the first year.

It is alleged in the complaint, and found as a fact by the court, that in September, 1878, said Henry Scadden, Thomas Scadden, and Richard Roberts agreed and contracted with said corporation to sell and convey to it the said mining property, and put it in possession thereof, in consideration of the transfer and delivery to them and their order, by the corporation, of forty thousand shares of its capital stock, the whole number of shares being sixty thousand; the remaining twenty thousand shares to be sold for the benefit of the corporation. Of the forty thousand shares, five shares each were to be issued to Brady and Tremberth to qualify them as directors, leaving to each of the Scad-dens and Roberts, respectively, thirteen thousand three…