The border vidette., 1907-12-07
SONORA BONANZA" :"
Secretary Cox Says the Affairs of Com.
 pany Are Being Arranged.

A. s. Cox, Secretary of the Superior Bonanza Mining Company of Calumet, Michigan, which now owns the Sonora Bonanza Mining Company's property near Imuris. Sonora, Mexico, was . visitor in Nogales. Wednesday, and was seen at the Montezuma hotel by Q VIDETTE reporter.
 The gentleman stated that there was considerable misunderstanding by many stockholders of the company re- garding present condition of affairs, and he desired to let the stockholders know that every effort was being made to get things strengthened out in order that the company could pay dividends as soon as possible. which can be done if the stockholders will co operate with the officers of the Superior Bo- nanza company, which now offers to redeem all Bonanza stock paid for in cash, allowing 20 cents per share, or forty shares of Sonora Bonanza for one share of Superior Bonanza Min ing Company, fully paid and non-as- sessable $l0 % stock.
 That the Superior Bonanza Mining Company, of which Mr. Cox is secre- y, is evidenced by the fact that out of 125. 900 shares, only $500 shares have been ses aside as promotion stock, to pay for the trouble of straig ghtening out the company's tangled affairs. This stock has been placed Tn escrow, and until a given time. cannot be sold.
 When it is taken into consideration that the old company's stock, as at present issued, amounts to 86O.O0 shares. of which 600.O00 went to pro- motion, some idea can be had of the difference in the methods of the pro- motors of the Sonora Bonanza and the Superior Bonanza, and stockholders can readily see that their only saliva tion is in getting into line, by ex- changing their old stock for new.
 MT. Cox was very enthusiastic over the merit of the property owned by his company, and stated -emphstically that it would only be a matter of 6 very short time after matters were strengthened out and sufficient stock turned in, when stock would treble in value and permanent price establish ed, with all debts on the property paid, and money in the company's treasury.
 Although MT. Cox was not inclined to talk for publication, he stated that he was willing to explain anything that he could to the stockholders.
 He said that criticism and mis- understanding were inevitable where people had purchased stock at fancy prices. A company might fool the public for a time but eventually they had to thew to the line" and this was what the Superior Bonanza Mining company were trying to do in order to induce new capital to come in. MT. Cox said there had been con- siderable talk about the offer that the Gugenheims made, but the fact re- mained that they nor any other cap italists had ever been willing to put up an initial payment and while no one would put up sufficient money to pay off the debts, deal cound'nt be made.
 One company, according to MT. Cox, had offered to lease the property and 1 take a mortgage on it but the direct ors could not see much for the stock | holders in five-year lease with the | lessee holding a mortgage on the prop erty and shipping the ore to their own smelter.
 Nobody could call $500 shares, placed in escrow by the new company a steal; in fact. he didn't know of any other company that had set aside such a small portion of their stock for their trouble and time in strengthening things out and raising money for de- velopment work.
 While the Superior Bonanza Mining Company, by the provisions of the mortgage, had the legal right to make a killing, they had repudiated the thought and had requested the officers of the old company to furnish them all the data possible so that they could take care of the stockholders as far as pos- sible and endeavor to make winning for them, although. it was impossible to induce new capital to enter the field until the issue of stock was com mensurate with the present value of the property.
 Thursday morning MT Cox return ed to Imuris, where he will be pleased | to receive communications from stock holders of the company, and others | interested.