The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1906-01-20

with an authorized capital Of $4,000
900. There will be $50. 900 shares Of
seven per cent cumulative preferred
stock and 10000 shares OF common
stock. The company is formed for
general mining purposes in the West
and will be controlled largely by the
same persons who own a controlling
interest in the United States Mining
Company.
Directors of New Company
Later reports from Boston give the
personnel of the new officials OF this
company aud the supporters OF the or
ganization are among the strongest
known in the financial world.
The directors are divided into -four
different classes, TO serve at the outset
one. two, three and four years, respec-
lively, and each class Of directors COM
ing up for election thereafter will be
chosen for the term of four years. The
| following directors have been elected:
| For four years. d. ID. Evans, A. i.
Holden, j. j. Storrow, s. W. Winslow.
For three years. Frederick Aver, Will.
liam Barbour, William H. Coolidge. N.
| w. Rice. For two years. Charles +.
Brooker, E. N. Foss, Z. G. Ramsdell,
H. II. Wehrhane. For q year. Q. A.
Hight, G. l.. Stone, E. @. Swift.
Organization of Board.
The meeting of the Unites States
Smelling, Refining and Mining Com.
pany for the purpose of organization
was held in Boston on Jan. 10. and the
offer to the stockholders of the United
States Mining Company was approved.
At an adjourned meeting r. d. Evans
was chosen chairman Of the Board OF
Directors; A. F. Holden, General Man.
ager; w. H. Coolidge. Vice President;
and F. w. ~Batchelder, Secretary and
Treasurer.
Interested in Eureka District.
2 The United States Company is identi'
fed with the present mining activity in
Eureka through some of its largest
|, shareholders being members Of the
Richmond Eureka Company recently
S organized to reopen the Eureka Con
solidated and Richmond mines OIL
Ruby Hill. The formation Of the new
I United States Company confirms a late
$ article in the Boston News Bureau,
q which is here reproduced:
= A Cautious and Safe Company.
The United States Mining Company
has now reached a point in it's career
when it is in a position to expand in
the mining. smelling and refining field,
q field which heretofore has been al.
most exclusively in the possession OF
the American Smelling and Refining
Company.
The management Of the United
States Company has made progress
slowly, and each step has been carefully
Considered. Starting with origiual
purchase of the Bingham properties in
Utah six year ago. which are repre-
sented by $50, 900 shares of stock. which
o were floated at $50 per share; the Cen.
%tenuial- Eureka. Mammoth and Rich
mond. Eureka properties have beer
taken over aud three smelters built
two for the treatment of copper al
d one for lead ores. and the capital now
Is stands at sci 900 shares.
,s As all these properties aud smelters
10 with the exception OF the Richmond
Ia Eureka mines at Garcia, Nevada
Of just acquired. ara now practicall,
finished propositions and upon al
,e established earning basis. the next i'm
es portant step in the pl.ns Of the man
De agement is now being considered
namely. the enlargement Of the scoops
9. of the company In both the mining AM
a. smelling field, but more particularly IL
the smelling field, upon o larger plan
4. than heretofore considered.
to What Expansion Plans Prooids.
y This plan provides. as the Bureau ha
D. already. announced, for the formation
Of an entirely new company, forme,
~ somewhat after the manne Of tn
American Smelling aud Refining Com
n pany. with preferred and common stocl
ID whereby $40. OOO. 900 Of new money will
Is be raised to irry out the smelter build
p ing plans and provide working capita
o. for transacting a custom ore bushes
upon a large scale. The issue of the new
securities. VIII ereby this new none.
will be raised. will be underwritten.
Details as to the basis Of exchange o
: present outstanding United States MIN
ing Company stock for that Of the new
company have not been definitely de
cided upon, but the plans of the man
m agement as to expansion are prett.
!, well determined. The m Is tina
each share Of United States MininI
Company stock will receive 371a pc
- cent in new preferred stock and 121
per cent in new common stock.
Ms a~xnansiou Mans provida for tn