The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-02-11
NEVADA CON.
BOND ISSUE
IN DETAIL
Letter Sets forth Fully the
Plan Which has Been
Made-..HOw to Get in

last nights mail with regard to Ne
vada Consolidated bond issue 1t
gives all the details of the plan
adopted and is as follows:
To the Stock holders of the Nevada
Consolidated Copper Company:
The board of directors of this COM
pany has authorized an issue of
bonds of S3.000,000, payable in gold
coin of the United States of America
of the present standard of weight and
fineness or its equivalent, on April
l, 1918, bearing interest until due
at the rate of per cent per annum,
payable on the first days of April and
October of each year, and all CON
vertible into shares of the capital
stock of the company, at any time
prior to the first day of April. 1913,
at the rate of so shares of such stock
for each $500 of the principal OF such
bonds.
These bonds will be issued in de-
nominations of $1,000 and $500,
payable TO bearer, or to the registered
holder thereof, as the subscriber may
elect They will be secured by first
Mortgage covering all of the mining
properties and equipment now owned
by the company or which it may here
matter acquire. The company re-
serves the right TO redeem the whole
or any part of these bonds on any
interest day on giving notice of re-
demption at 1902 " but the holders
may nevertheless avail themselves of
the conversion privilege within 80
days after such notice of redemption.
The Bankers Trust company of the
city of New York Will act IS trustee
for the bondholders. q
On the basis OF the present out
standing shares of stock of the COM
pany, to-wit. 1,i00,000. the right is
hereby offered 10 all stockholders of
record at the close of business on
the 18th day of February, 1908, To
subscribe for the aforesaid bonds, to
the extent of 54 II per cent of their
holdings of stock at par. Payment
for the amount of this subscription
Is to be made to Charles X. Lipman,
treasurer at the Office of the COM
pany, No. II Broadway, New York
City, in two installments; one-half
thereof on March 10, 1908, and the
remaining one-half on April 20,
1908.
Warrants signed by the treasurer
or assistant treasurer will he issued
TO the several stockholders as soon
as practicable after the close of busi-
ness on February II, 1908. indicat-
ing the amount of bonds for which
each stakeholder is entitled to sub
scribe. The holder of every one hun
dred and eighty-four shares Of the
-
eeive a full warrant" transferable
by assignment, enuuing him TO sub
scribe TO a bond for $500 or multi
pies thereof Such "full warrants
will be issued in the first instance for
the total amount of bonds To which
the shareholder Is entitled To sub
scribe, hut viii, on request, be split
up by the treasurer into multiples OF
$500. Fractional warrants on the
basis of subscription right of s2.13
of bonds for each share of stock will
be issued for holdings of less than
1874 shares. but no subscription to
bonds based on "A fractional war
ran" will be received or recognized
by the company, unless such frae-
tional warrant" Is consolidated with
other similar warrants sufficient In
amount to authorize a subscription
to bond for $500 or to multiples
thereof.
Subscriptions, accompanied by the
warrants upon which they are based,
must be presented to the treasurer
before the close of business on March
10, 1908, at which time the right to
subscribe will expire. Upon receipt,
on or before said day, of a subscrip-
tion accompanied by the necessary
warrants, and the payment of the
first installment as hereinbefore pro-
vided, the treasurer will deliver TO
the subscriber a transferable certifi-
cate or certificates evidencing his
interest. On application to the
treasurer, these certificates may be
split up into certificates emitting the
holder to bonds in multiples Of $500,
on compliance with the terms of the
subscription.
All certificates of interest must be
presented and surrendered by the
holder upon making payment of the
last installment, at which time the
bonds called for in the certificates
surrendered will be delivered.
No subscription, or assignment of
the right to subscribe, will be recog-
nized unless made in the form pro-
vided by the company, and upon the
terms and in the manner set forth In
the warrants to be issued. A failure
to pay any installment when and as
due will operate as an abandonment
of all rights under the subscription
as to which sucn default shall have
occurred. and all rights of subscrip-
tion abandoned, or not properly ex-