The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-11-15
GOLD DIS BIG MERGER.
Terms Under (Which Mohawk and
Other Mines Enter Company.

Since the announcement was made a
Few days Stree that - consolidation of
gun companies of CioldfieId had fbe9n eff
tected by Senator Georgt- :. Nixon and
George Wingfield. local interests in these
companies have been curious 10 know
Just how the deal has been fixed up
All details have not yet been arranged.
but the l.. NJ. Sullivan Trust companv's
market letter. which contains a long
statement respecting the big deal gives
the Following lucid explanation of the
proposition:
The authorized capitalization of the pro-
posed GOldfield Consolidated Mines COM
pany will be $j0000000. to be divided into
100000 shares of the par value of SO
each. but only so much of said capital
VIII 0e presently issued as may be neces-
sary 70 take over the capital stock of
the companies so named. The remainder
VIII be issued only when other proDer-
ties may be acquired. and then only in
amounts necessary for such purpose
based upon the actual value of the prom
erty to be secured.
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 com
pany, par value $50, 600. will be ex-
changed for 100000 shares of the Mo-
hawk company, par value S1,OO0,OOO.
Five hundred thousand shares of the
Consolidated company par value So 600 600
will be exchanged for 600 900 shares Of
Jumbo, pr value sl.000,000.
Five hundred thousand shares of the
Consolidated company. var value 5000
600 will be exchanged for 100000 shares
OF Red Top company. par value 81 900 600
Two hundred thousand shares of the
Consolidated company. par value 2O00. 600.
VIII be exchanged for 1000 600 shares of
1-aguna par value S1,OO0,o00 making a to-
tai Of 100000 shares of the Consolidated
company, par value So, O00.0 600, in exchange
FOR dhNl fshl shares of the
panies in the proportions stated.
OF the constituent companies the fol-
lowing SHARES remain unissued in their
respective treasures: Mohawk. 300 900
shares. Jumbo. 10000 shares: Red Top.
1880 shares; Laguna, 1877 800 shares
The shares of the Consolidated company
10 be exchanged for this treasury stock
in the proportions above stated, will be
covered into the treasures of the con-
Stituent companies as a part of their as
sets. These viii amount in number TO
1920 shares
The expense Of the organization and
FOR underwriting will not exceed 100000
shares.
The Consolidated company thus equipped
VIII have issued for its holdings and for
organization a maximum of 3.45OOe0 shares
Of tie par value of S5f.500.1GG of which
S42.270 shares. par value So 40 zoo will
have been covered into the treasures of
the constituent companies.
All shareholders in the constituent COM
panies OF any II them Will be given the
privilege of exchanging their shares OF
the Consolidated company on the basis
above outlined for thirty days after the
perfection Of the organization. This ba-
sis viii be adhered 10 without reference
10 intervening fluctuations of the market
value Of shares
The Consolidated company Will be or
g2niZed and equipped for business on OF
before the 10Th day of November a ID.
1896. at which time a statement of the
acreage. nature Of title and financial con-