Bisbee daily review., 1905-06-07
BlSBEE QUEEN
 DEAL CLOSED
ARRANGEMENTS REACHED YES TERDAT SATISFACTORY TO
 ALL CONCERNED.
New Owners of Stock Reorganize With E. E. Dennis, of Grand Rapids, as President-Some Old Owners Re- main in New coS1rany.

Close of the negotiations which have
 been pending for some time with refer
 ence to the transter of the Bisbee
 Queen Mining Co. property, was
 brought yesterday in this city at a
 meeting in this city between the stock
 holders and the representatives of the
 Michigan interests which take it over.
 The latter were represented at the
 meeting yesterday by E. E. Dennis. of
 Grand Rapids, Mich, and by H. A.
 Smith, of this city Following the
 transfer of the large majority of the
 stock of the Bisbee Queen Co. to the
 purchasers of the latter reorgani2ed
 the company, clecting an entire new
 set of directors and officers.
 Under the reorganization the name
 of the Bisbee Queen is retained. Mr.
 Dennis is the president of the compa-
 ny, as reorganized yesterday. The Bis
 bee member of the board of directors
 is H. A. Smith. The balance of the
 officials are eastern men. MT. Den his is still in the city, and will probably
 remain few days looking over the Bisbee Queen ground and other inter- ests in the camp before returning to Grand Rapids.
 The settlement and transfer of the property made yesterday was brought about by the purchase of the stock holdings in the old Bisbee Queen of B. F. Graham, J. E. Suits and associ- | ates, there being several of the latter, of the holdings of Cid Graham, J. T. | Hcod and of Judge J. G. Cass. These holdings aggregated about 7S,000 shares of stock. Stockholders of the original company who did not come in on the sale but retain interest with the rev owners of the property included 4. K. Campbell, Baptiste Caretto, John Caretto and several others. Altogeth- CT they hold about 5000 shares of the total issue of the stock of the compa- ly, some 76000 shares.
 The price paid for the stock that was transferred yesterday was not given ut following the deal, but it was said hat the figure was something better . han SG0 ,000. The conclusion of the natter was said by all parties concern q to be very satisfactory.
 One of the interested parties at the onclusion or the meeting yesterday ave out the following statement:
 The Bisbee Queen Development . 'ompany has been having Q variety of youbles and a quick change of man l4sment. A sale of the property of as's Company has been pending for the vast month. and it was hoped that this roald pull the company out of it's na1Icial difficulties. When the reg alar monthly meeting of the board of l,z1l earned definitely that the deaf w0uid lot go through, and at the same time 2 claim against the company for a large sum was presented which the had no funds to meet. The ereditor finally consented to accept he note of the company for the amount, so that difficulty is postponed Ter Sixty days. This situation so dis soHraged the principal stockholders iIssE Tney made an offer of their stock af a lgure which induced MT. E. E. Dennis. of Grand Rapids, Mich, to axe it rP. Following this all of the 7irectorAand officers of the company and Mir. Dennis and his asso- riates EIere elected 10 their places. Er. bennis# new the president of the ,onpa58W in place Of Air. B. F. Ora A.-.n, and the majority of the board are residents of Grand Rapids, where the office of the company will be in future. Mr. Dennis states that he has no intention of doing any devel- opment on the company's property, but will let it lie for few years if he can get further time on the company's in- debtedness."