The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-04-07
The Major Budd.

The st. Louis Republic of last Thursday
gives the following additional details of the
meeting of Major Budd stockholders, a
brief notice of which was published OK
clusively in The INDEPENDENT of Friday.
The Republic says: 'The preliminary
steps toward the Reorganization of the
Major Budd Mining company we're taken
yesterday at a largely attended meeting of
stockholders held at the st. Louis Mining
exchange, and at which 28O, 600 shares, or a
majority of the stock of the old mpa
were represented. The meeting was in
every respect the most successful of any
ever held in this city, and it is now only a
question of a few days when the reorgani-
zatlon will be perfected and preparations
made to resume work upon the property.
MIR. Joe j. Mutually. president of the Min
ing exchange and one of the largest stock
holders in the old organization, acted as
chairman and Mr.. julius Abeles as secre-
tary. Mr., Mutually stated that the assess
ments OF &c. a share had been paid on 202,-
81 shares, amounting to $17,570.46. Out
OF this sum judgments amounting to &c.
$3.50 had been paid, which left a balance
on hand of $576.S6.
IA telegram was read from Mr.. WEIGH, of
Helena. who is d holder of between go, 900
oh< sOSOOO o0u1Cb uDOu ulC III dBSCSS-
ment had been paid, which stated that he
would pay $1,000 at once, and upon a mo-
tion it was decided to give him until Nav 1
to pay the balance. That other delinquent
stockholders should also be given an oppor-
tunity to come in, it was decided to notify
them that they would be given until April
z to signify their Willingness to pay up, and
all those who notified Mr.. Mutually by that
date would be allowed until May i to make
their promise good. Three trustees were
then selected, being J.. J.. Mutually, Louis
Freund and John P. Meyer. to whom
the perfection of the organization is to be
left. 1t was also decided to organize with
a capital of 100000 shares of a par value
of 81 each, upon the assessment plan, the
amount of the monthly assessment to be
left to the board of trustees
The plan Of reorganization as outlined
yesterday and decided upon is one Of the
fairest ever offered to stockholders in a de-
fnnct mining company. As ali those who
have paid their assessments received a share
OF new stock for every share of DID,, and all
stock upon which no assessment has been
paid, including the SO, 843 shares which were
in the treasury at the time the mine was
sold, will be divided pro rata among the
stockholders.
Mr.. Schwab, of Helena, one of the
largest stockholders in the old Major Budd
company, who was present at the meeting,
expressed his entire satisfaction with the
plan of reorganization and said he was per-
tectly willing that the management and
control of the new company should be held
in st. Louis. He spoke most encouraeingly
of the property, and said he was satisfied
from the development of the mines adjoin-
ing that with very little work and the proper
expenditure of money it could be placed on
a + paying basis.
Nothing was done yesterday towards
naming tie new company. this matter be-
ing left entirely in the hands of the three
trustees, who, however will consider any
suggestions on the part uf the stockhold-
ers."