Powers v. World's Fair Mining Co.

Frank and Josephine Powers are the owners of a group of mines situated in Santa Cruz County, known as the “World’s Fair Mines.” They entered into a contract with one Ray Ferguson to sell-to him or his assigns these mines, granting therein the privilege of developing the mines, and removing and' reducing the ores therefrom, pending the consummation of the purchase, upon the stipulation that all proceeds realized from such ores, after certain deductions, should be paid to the owners to apply upon the purchase price. Among the provisions of the contract were the following: “It is further agreed…