Daily Arizona silver belt., 1907-05-10
HOW STOCK MAY
 BE SUBSCRIBED
President Smith of old Dominion Cop per Mining Company in Letter to Stockholders Explaining Rights in Is- sue of Remaining Shares.
Boston, Mass, May ?, 1907.
To the Stockholders:

To the Stockholders:
 The directors have this day voted to offer to the stockholders of record at the close of business May 10th, 1907, the right to subscribe, upon the terms hereinafter stated, for new stock in the company in the proportion of one share of new stock for each twenty-four shares which they hold respectively; that is, a right will attach to each share of the then outstanding stock to sub. scribe for one-twenty-fourth of share of new stock, but subscriptions must be for full shares. Subscriptions under holdings that are not multiples of twenty-four shares may be adjusted by the purchase or sale of rights. Sellers of rights should not subscribe thereun- der. The company will not buy or sell rights. The aggregate of the new stock so to be issued will not exceed l2,000 shares.
 The right to subscribe will expire at the close of business, May 27, 1907.
 The new stock is to be subscribed for at fifty (50) dollars per share (par being s25), payable in two equal install ments, June 10th, 1907, and July 10th, 1907. Subscriptions, assignments and payments will be received only at the office of the company. Payment of the second instalment may be anticipated on June 10th, 1907, and interest on any anticipated payment will be allowed at the rate of , per cent per annum, pay able when certificates of stock are de- livered.
 If payments are not made when due, subscriptions may be declared void by the company, and any previous payment thereon may be declared forfeited
 Warrants will be issued to each stock holder, specifying the amount to which he is entitled to subscribe under this privilege, and no subscriptions will be valid unless made on such warrants.
 All necessary signatures must be guaranteed by some member of the Bos- ton stock exchange or acknowledged before a notary public.
 The owners of large majority of the stock of the company have already an rounced their intention of availing themselves of the privilege to subscribe i'or the new stock. The sale of the whole issue of new stock has been un- Gerwritten without any commission by parsons closely allied with the company.
 The outstanding capital stock of your company is PSI, ,609 shares of the par value of $25 each. This amount was issued to acquire 143,609 shares of a total oi 150,00O shares of stock in the Old Dominion Copper Mining & Smelt- ing company, the entire capital stock of the United Globe Mines, 23,O00 shares, of the par value of $l00 each, formerly owned Fly members of the firm of Phelps Dodge s Co.,, and for working capital. The directors have from time to time extended the privilege offered to stock holders of the Old Dominion Copper Mining & Smelling company to ex- change their stock for stock in your company. If the remaining 6,39l shares of that stock now held otherwise than Dy your company are exchanged, the total outstanding stock of your com pany, Independently of the new issue, will be 2SS,000 shares. The total au- thorized capital is 350,00O shares, so that after the issue of the l2,000 shares of new stock now provided for, there will remain unissued 50,000 shares of the stock of your company.
 At the time of the organization of your company, in January, 1904, the Old Dominion Copper Mining & Smelt- ing company was already engaged in developing and improving its mining properties upon large scale. This de- velopment work and the improvements have been continued ever since, and additional properties have been acquir- ed by that company.
 Further large outlays are necessary for additional Improvements. The ore reserves have increased so rapidly that among other additions, reduction works capable of producing approximately 30,-