The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-07-27
THE CALIFORNIA
MYSTERY SOLVED
Personnel of Crowd Absorbing
Old Company Made Known.
WEALTHY MEN ARE IN 1T
ULTIMATUM is ISSUED TO OLD
SHAREHoLDERS.

A T LAST the deep mystery that has
n surrounded the inside maneuvers
of the powers behind the new Cal
ifornia Mining & Milling company has
been penetrated, and the public may.
for the first time since the new COM
pany was formed, learn exactly the
status Of affairs. 1t appears that after
the company was organized under the
laws Of the state of Nevada, certain
operators who we're sparring to get
big slice of the stock preferred TO
Keep in the background until they had
satisfied themselves as to the merits of
The investment The property was ex-
amlned, and after careful considera-
ton had been given all phases of the
business. the deal was finally closed.
and the new crowd is now in the sad
die
Yesterday the new company's per-
manent board of directors and officers
was announced as follows: Willard r
snyder. president and general man.
ager; Charles [. RAIDER. vice president;
Is. T. Bauer, treasurer; w /. Snyder.
secretary; these. with {. o. Filing
wood. G. w. Hartley and Thomas Ros-
camp, completing the board While
nothing official was released concerning,
Inc matter, il requires no strong
stretch of the Imagination to discern
The hand of the Western ExpIora tion
company in the deal, as the corppanY's
new president and vice president are
both most prominent members of that
powerful organization.
Discussing the purposes and plans of
the new company. President Snyder
said that the mine would be thoroughly
and Systematically opened under the
direction OF a competent mining engi-
neer and metallurgist, and if there is
anything there, they proposed to bring
1t out.
"Our investigations have shown. 4"
said he, that there is lots of ore in
the mine right now. We shall put the
mill in commission early in the com
ing week and try TO make the prom
erty pay fits way out of the hole. IF
We see that this cannot be done, as
sessments will be levied to help out
Who the company's engineer will be it
Is yet too early to say. though l shall
be pleased if we can so arrange mat
tiers as TO have A. J. BEETLES. chief of
Mr. Warehouses; staff, perform such
service for u.s."
Mr. RAIDER, the vice president of the
company, is the general manager of the
famous Annie Laurie property, at Gold
Mountain. and he has made a personal
examination of the California mine
he stated during the afternoon that
he was convinced the property. with
systematic development. could be made
a winner, and he had decided to back
his judgment by going into the COM
pany- 1T may be- said he, that the
method of treating the ore viii have to
be changed somewhat, and if a change
Is found necessary, you may depend
upon it, it will be made. The PROPOSE
ton is going to require money. but as
long as results are anything like GER
tain, that win not be allowed to stand
in the way"
Regarding the transfer of old stock
for the new. the nagement desires
that the following ultimatum be given
publicity for the benefit of all con-
cerned:
THE few stockholders who are hold
ing out their stock and not trans
ferring the same, viii be given the
balance of the month in which to con-
vert their holdings into stock of the
new company. AS to all stock not
transferred at that time. an equal num-
Der of shares in tie new company will
be delivered to the officers of the old
company for distribution among such
shareholders as hold out and they
win compel them to either take those
shares or the proceeds Of the same in
money. as the shareholders elect. and
the directors have the right to convert
all such stock into money and dis
tribute it accordingly"