Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1873-02-13
INTELLIGENCE
Meeting of Phenix Creditors.

Meeting of Phenix Creditors.
I'm accordance with the notice call
& a meeting of the creditors of the
henix Silver Mining Company, Il
i attendance Of all persons having
bins against this company was had
their office yesterday afternoon, at
10 o'clock, when Mr.. j. NJ. Robert
!, the agent of the Board of Trus-
5, called the meeting to order, and,
behalf of the company, made the
lowing statement He said the
rporation had expended half a mil
NOT dollars in this district, S250,000
which had been collected from as
sments of the stockholders, and
remaining portion from the pro-
cion of the works i'm this town !;
that now Ire had some PROPOSE
ns to make to the creditors, whose
luigence was asked for a short time
the company. He said the Trus-
EpropOsed to pay one-third of all
mands Immediately in cash, one
d in ninety days, and the
aainder in six months from
he of signing of an agreement
that effect by the creditors.
e company would give good notes
the amounts due, subject to inter
at one per cent. per month. After
me further remarks concerning the
Ourf cement offered by the pros
ets of the mine. and expressive of
desire of the Trustees to run taeir
brks and to avoid bankruptcy, a
dion vas made to elect a chairman,
d Mr.. Arlington was chosen to act
that capacity. The office of the
mpany being too small to accom-
pdate the number of persons pres
!, on motion, the meeting was adj
Erned to Dan. Morgan's hall ON
bel street, where the rest of the
kreedlngs took place. Mr.. Gold
bne moved that Mr.. Robertson be
quested to ask the Trustees If they
i'll place the property OF the COM
my in the hands of Il committee in
nt for the creditors. to secure the
fyment of the notes free of all i'll
mbrance: that the creditors shall
point such committee ; and that
Y action of three-fourths Of the
EDITORS shall be binding upon all
ho shall sign the agreement, and on
Z company. This motion was
Opted, and the meeting then adj
urned to Monday next, at 2 O'Clock
NJ. On a proper consideration OF
circumstances. and from "A knOwl
se of the intentions of the Trustees
the PheniX Company, VT cannot
EsMd the conclusion that the terms
Pered are the fairest that could bt
pile or demanded, and that the
editors, great and small, will &c
ell to accept them cordially, ant
us assist this enterprising company
Not their difficulty, while provid
Tor an early reimbursement Il
Fv~lnselves. 1t would be worse than
NY Tor the creditors and lien-hOlder'
push the company into involun
y bankruptcy, by which metho(
obtaining their dues the,
uaid never be able to realiz'
Nhall the amount besides, the eX
ElSe Of litigation must he advanced
nose who prosecute suits, and thu
On Immediately outlay, withou
! corresponding benefit. Impecu
"s% attorneys may advise going t.
", u we know from sad expert
"Nthat this is not always the DeS
~ 10 obtain ones dues. The Pheni,
nupahy desire to run their furnac
WI custom ore, which is Otfere'
M from the X. X. company, am
rth Will WELD a constant revenu
sne liquidation of all debts. A
[bM; III is now due Of $500
s SGn Will be collected in a fe,
oM n another assessment wi
%heuiately be levied of SO, 900 more
t ~ collected within three months
M ample provision can be mad
an me company to pay nearly all dc
bo1 Is by assessments alone, as tn
ss'e amount Of the indebted
sS but about So, 1000. Bu
s~SShlents do not constitute the onl
ar11 iees of the company. There
(rSs amount of bullion at the Ne,
INA refining works, returns fror
are yet to be received. And.
creditors consent to allow til
arp the time asked for, "A lare
i,sd .! the sum due them will be r