The Spokane press. [volume] (Spokane, Wash.) 1902-1939, 1903-04-02
TO THE sHAREHoLDERs OF THE
SULLIVAN GROUP MINING CON-
RAHY:

SULLIVAN GROUP MINING COM
PAMY:
TAKE NOTICE. that special gen
eral meeting Of the said company will
be held at the Offices of the company
in the city Of Spokane on the ninth
day of April. 1903, at the hour of II
o'clock. forenoon. for the purpose of
considering the following resolutions:
Whereas, the company is indebted
to divers and sundry persons in re-
spect to advances of money made by
them. and goods, wares and merchan-
disc furnished by them. amounting In
all approximately to the sum of $780,
900, upon which advances and bills
for goods, wares and merchandise in
terest has accrued to the amount APP
proximately of $500, which advances
were made to and accepted by the
company, and which goods. wares and
merchandise were purchased by the
company pursuant to resolutions of
the company duly passed authorizing
the borrowing of money and the pur-
chase of goods, wares and merchan-
disc.
And Whereas. 1t lis desirable that
the trustees and officers of the COM
pany should be authorized and en-
powered to borrow the sum of $3.50.
900, to bear interest at such rate as
can be arranged. and mot exceeding
the rate of s per centum per annum.
for the purpose Of paying and salts
flying the advances heretofore made
to the company and the bills for
goods, wares and merchandise, both
principal and interest. and also for
the purpose of completing the COM
pany's works and smelter at Marys-
vile, British Columbia, and also for
the purpose of furnishing the work
ing capital to carry on the company's
business after its works and smelter
shall have been completed. and that
such sum when borrowed may be evil
denced and secured to the lenders by
the negotiable bonds of the company
and a mortgage on the company's
lands and mineral properties in Brit
ish Columbia to secure the said
bonds: and that all other terms and
details should be arranged by the
companys trustees and officers.
Now, therefore, be it resolved,
that the trustees and officers of the
company are authorized and empow-
cred to borrow from such persons
or corporations as they may think fit
a sum or sums of money. not exceed
ing in all the sum of $25o,000. and
to give and execute on behalf of the
company $500 negotiable bonds or
debentures of the company. payable
to bearer. numbered consecutively
from l to $500. both numbers includ-
ed. each of said bonds to be of the
denomination of 500, to be payable
five years after the date of issue. and
to bear interest from the date of issue
at rate not exceeding per centum
per annum. payable scmi-annually
and said trustees and officers of the
company are authorized and empow-
cred to deliver to the lenders of said
sum of $25o.000 bonds or debentures
to the amount in dollars equal to the
sum or sums loaned by them. and as
the same is received by the company
or to deliver to all or any of the per-
sons to whom the company owes the
said sum of $4,000 portions of such
bonds equal to the claims of the credi-
tors who accept the same in salts
faction. and the trustees and officers
of the company are hereby authorized
to execute on behalf OF the company
mortgage on the company's lands
| and mineral properties In British Co
lumbia. or any part thereof. to George
Turner and George w. Hull. trustee.
for the bondholders. or debenture
holders. to secure the payment of tn,
said bonds. each and all of them, both
| principal and interest. when and a.
the same become due. which sale
mortgage shall contain a stipulation
that on default in the payment of ac
| crued interest on the said bonds OF
| any of them for so days after tn,
| same shall have become due and pay
! able. that the trustees may immedi
| ately proceed to enforce the sale
| mortgage and pay the said bonds
| from the moneys thereby realized
| and which said mortgage shall con
tain such other usual and reasonable
terms. conditions and stipulations
and the payment OF the principal and
| interest of the said bonds and the
enforcement OF the said mortgage
not inconsistent with this resolution
as the trustees and officers of ths
company may arrange and determine
''Be II resolved further, that the
action OF the trustees In incurrlns
the said Indebtedness OF sis0.e 600 b.
| and the same hereby is approved
ratified and confirmed
And take further notice. that :
| special general meeting OF the sale
company will be held at the Offices
OF the company In the said city Of
| Spokane at eleven o'clock a. m, OF
April %, 1903. TO confirm the action.
| OF the shareholders at the meetins
called for the ninth day Of April. 1908
as above.
GEORGE TURNER, President.
! J. G. WiLLlAMS. Secretary.