The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1909-12-16
REPORT TO NAB0B OWNERS
Assessment Necessary to Carry Out
Plans Of the Management.

The following letter has been stockholders of the Nabob
Mining Company by Secretary Harvey M. Ross
almost daily in receipt of letters from stockholders asking
about the conditions and ccng the actions OF the directors
of your company On April 1909 special meeting Of the
board of directors held to call OF President Row.
lands who at that time placed before the directors typewriter
copy Of proposition from prominent company Spokane
Offering take the entire 5 900 shares of stock within
stated certain scale Of prices provided the stockholders
would vote to increase the capital stock that amount
Your directors considered the proposition reasonable and
voted to place the before the stockholders which
cordng DONE and the adjourned meeting held Aug So l9O9
twohrds Of the capital stock represented either by
or by proxy and voted unanimously increase the
capital stock The completion of the deal to take the stock
placed in the hands of Pres Rowads who presented the
proposition but the present time nothing has been accom-
pshed and have been unable place the stock elsewhere at
reasonable price, Furthermore directors in order to carry
and pay expenses Of increasing the capital stock borrowed
five hundred dollars giving note which will soon be DUE
We also let for tunnel work order to comply with
the law providing that hundred dollars worth OF labor and i'm
be done each unpaented claim annually The
money this work will be due JAM 1t 1910 Your Pres Mr.
Rowands has advocated the letting If these claims revert to the
Government but who know Of the ground think
this would be grave mistake
These claims raversd by several promising quartz edges
and number of them lie between the patented claims and
mill site Pine Creek and long tunnel would have to run
through these claims They also covered with valuable tim
would the thousands OF dollars when they
have to use tmbers the mne therefore the majority Of the
directors determine try to hold together all OF the original
claims belonging the We have planned to complete
working tunnel Wnlcn VIII unWateT he
and give the old workings and bodies and then
the building of small mill We believe this can be done with an
assessment of q per share levied the money is
needed provided place treasury stock where it
was three years ago. perhaps higher Your directors have
haused every effort sell treasury stock and in order carry
out the pn levied and If any OF
stockholders holding stock marked mon assesabe think it
cheaper to bring suit against the than assessment
we will fight it in the Each and stockhoder has
been notified send their stock to the secretary for exchange to
the new issue which, according to Idaho state law must be
essab The laws Of Idaho do not recognize mon assess
able stock.
We are not trying work hardship any Of the stockhod
ers We are poor and will be hard for us to
assessment as II is for you.
II has been stated that Of the stockholders did not the
last assessment We wish static emphaticay they did not
their stock was sold for delinquent assessment
The secretary receipt from the State Bank OF Commerce
for the entire amount voucher for dollar expended
The books of the company open for inspection by the stock
holders at all times
To those stockholders who have stock marked mon assessab
we ask you to and have it transferred to the new issue
and be on an equal with the rest of Unless the stock
holders do their duty towards the directors they cannot expect
their directors to accomplish much
The Nabob is stockholders proposition no individual or COM
uany holds controlling interest It will be paying mine
unless worked and ask each and all to help us put on
eef f-sustaining basis