Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-01-19
OHIO TONOPAH
EXPLAINS STATUS
ISSUES CIRCULAR EXPLAINING
THE EXISTING CONDITION
OF THE COMPANY.

hat company. The communication
Is dated January 1, 1907, and goes
into full details. 1t states that the
property has been sold to the West
End Consolidated Mining Company
and that the consideration Of the sale
was 100000 shares of the treasury
stock of the West End Consolidated
Mining Company at IS par value, and
hat this stock had been placed in
the treasury of the Ohio-Tonopah. 1t
also deals with other properties form
erly owned by the Ohio-Tonopah. The
fun text Of the circular is as follows:
Youngstown, Ohio, Jan. l, 1907
To the Stockholders of the Ohio
Tonopah Mining Co.: Many of our
stockholders apparently do not have
a clear understanding of the present
status OF the company's affairs.
Therefore, to make clear the existing
conditions, this circular letter is
mailed to all stockholders of record,
January /, 1907.
First-The O~hio-Tonopah Mining
Company has sold to the West End
Consolidated Mining Company its
property at Tonopah, Nevada, and
has received in payment for the
same, 200, 900 shares OF the treasury
stock of the West End Consolidated
Mining Company-par value, So per
share. This stock is now in the
treasury Of the ohio-Tonopah Min
ing Company.
Second-The Ohio-Tonopah Mining
Company has sold to the South Com
stocks Consolidated Mines Company
its bond on the Logan property at
Como Nevada. and has a contract to
receive in payment therefor 1,150,-
900 shares of the stock Of the South
Comstocks Consolidated Mines Com
pany, at a par value of 81 per share.
This stock, by agreement, when re-
ceived will be placed in a pool in a
contract with II. b. Clifford & Co.
for the period of two years; and in
connection with the remaining stock
of the South Comstocks Consolidated
Mines Company, aside from the treas
ury stock, will remain in the pool
the entire period of two years un-
less the South Comstocks Console
dated Mines Company goes upon a
dividend paying basis sooner; in
which case the stock will be imme-
diately released and distributed to
the stockholders OF the ohio-Tonopah
Mining Company.
Third-In our agreement with the
South Comstocks Consolidated Mines
Company, we secured for the stock
holders OF the Ohio-Tonopah Mining
Company, the right to subscribe for
100000 shares of South Comstocks
Consolidated Mines Company treas
ury stock at Is cents per share. This
right expiring January 10, 1907. The
stockholders were advised of this by
circular letter issued December Is,
1907.
The Ohio-Tonopah Mining Com
pany has nothing to do with receiv-
ing subscriptions to this South Com
stocks Consolidated Mines Company
treasury stock.
Fourth-The Ohio onopah Min
ing Company is at present a holding
company, its capitalization being ST.
500, 900.
The interest of a stakeholder OF
the ohio-Tonopah Mining Company
is, therefore, as follows:
For each one hundred shares OF
0hio-Tonopah Mining Company stock
there is in the treasury
Thirteen and one-third shares OF
West End Consolidated Mining Com.
pany stock, and
One hundred and thirty shares OF
South Comstocks Consolidated Mines
Company stock.
Fifth-The Ohio-Tonopah Mining
Company has some obligations to pay
which must be liquidated by realizing
on a small portion of the West END
Consolidated Mining Company stock
The payment of these obligations
however, will not materially affect
the proportions above stated.
Sixth-Some stockholders have
thought they were obliged to send ii
their Ohio-Tonopah Mining Company
certificates for exchange for new Ger.
tificates. This is not the case, ant
our stockholders will please hold
their Ohio-Tonopah Mining Company
certificates until further advised, a!
they represent your interest IN thu
above named assets the same as they
have heretofore represented your in
terest in properties which we hav,
owned.
Seventh-The expense of maintain
ing a stock transfer office in Pitts
burg has been discontinued and thos,
desiring certificates transferred viii
please send them to the secretary a