The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1906-11-10

The News is here to help every man
in the camp who is conducting a legiti-
mate mining business, and is here to
build up the camp and promote its best
interests; but it also has a duty to per-
form toward its subscribers and the
public generally, and we will always
keep these facts in view, and hue close
to the line.
Now as TO the merger itself
DETAILS OF THE MERGER
The following official statement was
issued from the Offices of Nixon and
wingheld last night:
Nixon & Wingfield gave out the fol-
lowing statement last evening:
1t has been determined TO organize a
corporation to be called the Goldfield
Consolidated Mines company, to take
over the shares of the MOHAWK,
JUMBO, RED TOP and LAGUNA com
panies upon basis proportionate TO
their relative values and to operate
them under one management, thereby
affecting a maximum of efficiency with
minimum of expense. In addition
thereto, the scope and authorized capi-
talization of the company viii be so ex-
tended as to enable it to acquire other
properties If desired, to mill, reduce, or
smelt ores on it's own account, and to
conduct all other operations connected
or appurtenant to the business of min
ing.
The authorized capitalization of the
proposed company will be $5O,O00,0O0, to
be divided into 100000 shares of the
par value of $40 each, but only so much
of said capital will be presently issued
as may be necessary to take over the
capital stock of the companies so
named The remainder will be issued
only when other properties may be ac-
quired and then only in amounts neces-
sary for such purpose, based upon the
actual value of the property to be Sc
cured.
APPoRTIoNAGENT OF STOCK
Based upon the current values of the
stock of the companies named herein,
shares of the Consolidated company will
be exchanged for those of the constitu-
ent companies in the following proper
tions:
Two million shares of Consolidated
company, par value $20,00O.000 will be
exchanged for 100000 shares of the
Mohawk company, par value $1,OO0,000
Five hundred thousand shares of the
Consolidated company. var value $4,000
600, will be exchanged for 100000
shares of Jumbo par value S1,0o0,000.
Five hundred thousand shares of Con-
solidated company. par value s5,000,00o,
will be exchangedd for /, 100000 shares
of Red Top company, par value $1,000
COO
Two hundred thousand shares of the
Consolidated company par value $4,000
000 will be exchanged for 100000
shares of Laguna. par value 100000 900,
making total of 100000 shares of
the Consolidated company, par value
$32,0o0000, in exchange for 100000
shares of the constituent companies in
the proportions stated.
OF the constituent companies the fol-
lowing shares remain unissued in their
respective treasures:
Mohawk 29o,ooo shares
Jumbo ---....------..-...-,-.5Oo,VV shares
Red Top 900 shares
Laguna 1 1877, 500 shares
The shares of the Consolidated COM
pany to be exchanged for this treasury
stock in the proportions above stated,
will be covered into the treasures or
the constituent companies as part OF
their assets.
These will amount in number to S42,-
270 shares.
The expense of organization ana Tor
underwriting will not exceed 50,Ooo
Shares
The consolidated company thus
equipped will have issued for its hold
ings and for organization a maximum OF
3,450,O shares of the par value of s34,-
500,O 600, of which S42.270 shares. par
value $s,422. ZOO. will have been covered
into the treasures of the constituent
companies.