The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-12-25

UOOuHdN NEVADA december ~ E9
Ito the stockholders he
May@wnB unhg Consolidated filming Company:
Your property has been operating cntnmayfn for more than four years. past sa last Mnh VIZ huo operated
feshnp mill Then some additional ore was mchneh was thought best install ten additional aamps
which has been DONE The management secured the aMs of Mr. H s. Stark the engineer in hge of the prop
critics of M George Wngsd and operated the company under his amd ns l months At tines the outlook
has been most promising and ore bodies were opened up from time to time but notwithstanding this the uupnty has
run behind and the debts of the company have cuHd to aumuae Mr. En the Psddna of the
Company has guaranteed the Indebtedness ash has been cmtadm this was necessary in order to keep the COMPANY
going When the nul meeting was anda the gn me was cmhudh r 80 days by Mr. Else in the hope
in the meantime the ore in the mine would improve in qy and quantity to sufficient t to uSMy him
in continuing to stand behind the company But Their m bee moi improvements yet and Mr. Enf feels that he can
longer continue to be responsible fort operations Of tn company and q" announced to the stockholders at the
adjourned annual meeting held on December 18th last AT this Meeting the new manager Mr. Rle made complete
rpt a@y of which is herewith enclosed day or MOp prior to thu m@hg and Mr. ESns anoamgd definitely
he would no hgr be responsible for the debts of tn company the property vas htM down
The matter was gone over thoroughly the stockholders meeting and explained hes stockholders present The
Board of Directors elected at that imeh has armyc considered the situation and believe that tn property of the
vdp to make it a aging proposition Thee creditors of the, Company since Mr. Esms refusal to be any longer
for its hdbhdnasa are camMng for their money and Threatening to bring attachment proceedings for
the puTme Of dedngh The whole natter has been carefully amwMd by the Board of Directors and in order to-
escape attachment ad sale of tn property and to keep the property pessda and enable all aoahdde" to save their
interest in it THE following plan has been developed
The Company will execute MmNyMr lease to tn Aahwr Consolidated Leasing Company the Easing
company to assume the payment of of the present ousndngh Mdm@m and pay to the parent cnmyf five
per cent r0My upon whatever net profit nay make Tnp hy to apply on all the debts of the parent "mpany
which are paid by tn leasing company In other wMh-whawa debts are paid are to be dans rWy and
be paid the leasing company out the royalties on ores actually extracted The royalty is sla inc
the debts now amount to bout soOoW it will probably be several years before the leasing company will be
the aren't company shall have the right to subscribe to the same number Of shares in hel leasing com.
that he owns in the parent company In this way each M0Ahddmm the parent company can oha his interests
by taking his stock in the leasing company The Easing company is incorporated for two mlMm shares under the avs
the state of Nevada and the akh as~mhe The first assessment s been fnd at ~ cents pH share which
the cnpays property Mr. En has arranged fora papommet of any aem by the creditors until the stock
holders heh had the opportunity responding to thu assessment just stated and the stockholders respond the deb"
will be continued until additional assessments upon easy terms to the stockholders can be made I" hh all Of the
can be paid and funds raised to continue opmhO& The outlook from tn ore standpoint is very good adh is
in short time the rWHy can be made to pay for itself But as to those matters stockholders can JUG"
the report of the present manager Mr. Rorka
You will find enclosed subscription blank for your heo fhe stock in heh easing company and cas- 20"
desire to subscribe for more than your interest will @hey m to- you are Untitled to take your share of any stock
by other stockholders These subscriptions must all be made out and mailed on or before the 2h day
Jamrv and on thu first day of February all umbrbds stock viii be thrown opmn the publ for subscription
q uENDERcON C~aw