Bisbee daily review., 1908-05-29
HAVE \ PLAN FUR. COMPANY
 IF COL-. GREENE
in Urgent Need of Cash to Garry on Operations That You'd Eventually Prove Profitable.

ed March 2G by the directors or the Greene Gold-Silyer company to de wise plan for putting the company on a sound financial and operating basis, and which addressed a circu lar to the larger stockholders asking them to contribute 5 cents per share on their holdings in order 10 raise g fund to defray the expenses or a thorough examination of the affairs of the oompany from a legal, finan Ciai and operating standpoint, is composed Of MessTs. James J. Far ren, W. C. GOtschan and Chas. w Mac key.
 James ]. Ferren and W. c. Cots Chall of the committee are new di rectccS in the company. They are large holders Of Greene Gold-SilveT stocks and previous to the annual meeting which was held last fall, they had secured enough proxies From large stockholders to insure their eIecton as directors.
 iu Urgent Need of Cash.
 Mr. Farren says: The Greene Gold Silver company is in a very poor condition financially and is in urgent need of cash to carry on the work pending q readiustnent of its finances. Tas total indebtedness of the company IS in the neighborhood of $2.900. .0OJ which includes notes payable and the amounts yet due on properties purchased.
 So far as the final payments on the mining properties purchased in the past two years are concerned yke original owners are willing to eX- taDd the time Of payment so that tae .0mpany will not experience any jrouble in this direction. The i'm mediate necessities of the company, therefore. gre rot large.
 Recent Favorable Developments.
 Colonel Greene has been giving his personal attention to the work on several of the properties Many fay- Orable developments have taken place recently at the Ocampo and Coucheno properties. I understand, and have had some excellent re ports from GisinJerssted parties who have recently visited the mines q the company.
 The committee. however, Is satis- fled that it is for the best interests of the company and the stockholders to have . complete and thorough eN- animation made Of it's properties. Ii. ties and financial affairs by the vea, experts. before any definite prOpOsi- tion for financing can be. recon mended.
 Coionei Greene Favore Plan.
 Colonel Greene, being 8 large cred itor, Is in favor Cf the pla- and is willing t0 aid the commit, iu t.1rv way possible to bring about the do- sired result, and l feel sure that u. H.. tions the committee may make COu- corning the futur- management Of the Company.
 "AftaC the proposed examination is made I think that it will be an easy matter to arrange for whatever ii nancing the company may need If t prove5 that the properties are near y as valuable a. in claimed. aEd I nave reason to believe that they are very valuable. the stockholders vii get their money back iE Q short time"
 Relations Slightly Strained.
 Relations between Colonel Greene and his directors have not been en- tirely harmonious for some time past.
 At the annual meeting of the =1cn- pany, held last fall Colonel Greene stated that there was then pressing need of $50G, ,OOO to pay for supplies, and to meet obligations outstanding, as well as money he had advanced but that there W"Il5 be no further pressing needs, UEtiI after January when he hoped 10 be able 10 make some turn or sell some Of the pre- ferred stock in the treasury to raise money with which to meet the com usuv's necessities
 Since that time some six months have elapsed and nothing has been done to help the company cut of its difficulties exec pt ..n the above men toned proposition.
 coionel Greene Hard at Work.
 Colonel Greene meanwhile has been devoting all his time and energy in pushing development wOrE, prin cipaIly at the OcampO and ConcGenO Nayidad mines and a most competent but dfsinterested authority who just returned from Mexico, states that his work is showing splendid results al both properties
 Miners Wages Unpaid.
 The miners have not been paid their w wages for several monthTEft 1t is understood, but their faith in COlOne Greene is so great that they are sat fsfied to continue at work until mat ters are straigbtened out.
 It is said that when committee oi the miners wRited upon him recently Colonel Greene made a frank state nent iu wbich he told them the exact condition Of things ard they returned to work after expressing theiT conf dence in him.
 A prominent New York man, whC has known ColODei Greene for a mum ber of years, and who has had close business relations vita him, says:
 An orinion of Colonel Greene.
 Colonel Greene has been the vic finn Of his ov.r generosity, that is, he has been doing business with his heart instead Of his head and he has e -,-Hs1ed and slaCdsred by tac ...-- -. alc whom ne has Fefrielded
 He hIs expressed his approval oi an investigation e. tl.a cCmpany'7 ei airs. IL may prove that 9 r5CrG2n, fzation viii net be needed CT all, Du' an of the GFus be.i5T' that the ciTec rorg will accomplish results I1oFe uuickly by Zorking with ColoAei Greene rsh-- tbaa against him.
 'Colg1el GD He's mistake in the
 4ta- TfrLara f,pII-CsII.