Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1906-04-07
MANHATTAN
BXT co.
This Great Corporation Sub
divides Its Holding in the
Manhattan District.

Tho stockholders of the Manhattan
Mining Company of Nevada
hold their special meeting last Satur-
Sov afternoon in this city for the pur-
nose Of considering and acting upon the
proposition of subdividing the com
pany's big holdings in Manhattan dis
t,;ct and to incorporate subsidiary
.-0ronanies to acquire and operate these
rronerties. Almost the entire issued
I'd outstanding body of stock was rep
resented, either in person or by proxy,
and their action was without a single
dissenting vote.
The Dexter company originally owned
On claims in the heart of the Manhattan
district. 1t was the intent of the pro-
vooters. officers and stockholders of the
company ever since the organization, to
make it in the nature of a holding COM
r.nv. and in due season cut up the
;mmense acreage into other companies.
I.aat January, following out this plan,
.hae company conveyed the Union No. 2
ara Union No. 3, situate on Injunction
nm. to the Manhattan Union Mining
Company. The last named company at
the same time acquired two contiguous
claims. known as the big Mogul' and
turtle Dove" which claims practi-
cslly v all the so-called Litigation
Hill. This is believed to be one of the
richest tracts of ground in the district.
Last Saturday sundry other claims were
conveyed-to eight new companies. The
names of the new companies are as fol-
lows: Manhattan Dexter Extension
Company, Dexter Queen Mining Com
pany, Dexter King Mining Company,
Dexter Prince Mining Company, Dexter
Crown Mining Company, Dexter White
Caps Mining Company, Dexter Merger
Mining Company and Manhattan Union
Extension Mining Company.
Each one of these companies is in
corporated under the laws of South
Dakota for a million dollars, divided
into a million shares of the par value
of one dollar each.
Each company has the same staff Of
officers and directors, which r as fol
lows: A. G. Raycraft, president; A. D
Nash, vice-president; T. A. Patteson
Jr., secretary; George Wingield, treas
urer and general manager. The direct
ors are A. G. Raycraft, George Wing
field, Hugh H. Brown, E. Sutro and A
D. Nash. George Wingfeld, the well
known Goldfeld operator, has accepte
the unanimous request to take the ger
eral managership. This means activ
and energetic operations on all tn
properties. Mr.. Wingfield has alread
delegated Mr.. J. H. Cutler, n of tn
best men on his engineering staff,
Immediately initiate operations. 1t
expected that 100, 900 shares of Il
treasury stock Of each company will
placed upon the market for the purpo'
Of equipping the treasures of the Sc
eral companies. Large capitalistic il
terests in the east have already put
a bid for these offerings in one bloc
The officers of the companies, howeve
have not yet definitely determined Il
method of disposing of the initial bloc
of the treasury stock. There will
300, 900 shares in each treasury. II
remaining 700, 900 shares of stock
each company will go into the treasu
of the Dexter company, and will I
main there until the board of directo
shall distribute the same as a sto
dividend. At Saturdays meeting, t
stockholders conferred full power a
authority upon their board Of directc
To determine the time, manner a
method Of distributing these stool
authorizing the BOARD of directors
distribute them at any time, in part
in whole, as the board Of directors m
deem for the best interests Of all CT
cerned. 1t is manifest that the bos
of directors will withhold for distril
ton the stocks of all these compan
until such time as their treasures ha
been fully equipped and the compan
are on a self-supporting basis.
The action Of the stockholders d.
not effect the Union No. 3. The ii
70 this famous producer remains in
parent company, the Manhattan Dex'
Mining Company of Nevada.