The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-03-25
PLANS TO REVAMP
BULLFROG COMPANY
Montgomery Mountain to Solve
Financial Problem viii
Be ReOrganized.
TO ASSESS STOCK
THREE CENTS A SHARE
Only Way to Save Property
From Falling Into Hands
of Creditors.

stockholders of the Montgomery Noun
tain Mining company are receiving g
statement relative to the condition Of the
company's finances. and notice OF the
plans OF reorganization. which contem-
plates an assessment OF cents per share
I'm the exchange Of old stock for new.
This property adions the Montgomery
Shoshonc Consolidated Of the Bullfrog
district, and it was one OF the very first
propositions secured by Salt Lakers in
Bullfrog. -. Henry Pcery was the origi
nal promoter, and the Pecry estate, with
Samuel Ncwhouse. owns ma iorIty of
the stock. Tho notice reads as follows;
THE National Bank of the Republic,
at Salt Lake City, Utah. and other par
ties. have from time to time loaned 10
tho Montgomery Mountain Mining com
pany al Bullfroe, and for It's benefit,
moneys in the aggregate sum Of 100000.
Those creditors had demanded payment
OF their respective claims against the
company. with interest. and the stock OF
the Montgomery Mining company of
Bullfrog being worcestershire. TO protect
the stockholders. the board Of directors
was confronted with difficult task, On
January 3. 1910. therefore, your board OF
directors authorized the execution OF
trust deed upon all Of the company,s
liam f. Earls Of salt Lake City, Utah,
trustee for the creditors. But tho com
pany being still without funds and still
unable TO discharge that indebtedness In
whole or in part. upon March last found
Itself in default under that mortgage.
and its property Is now being advertised
for sale by the trustee upon the 18th
day of April next. That the company's
property may be preserved for the bcnc
ft Of all stockholders, immediate organ
iZation is imperative.
"A new company Is TO be organized,
under a name TO be hereafter determined
by the committee, 10 acquire the prop
crty at the trustees sale or in such other
manner as the committee may determine.
the sum of $1,5OO.OO0, divided into ST.
500 900 shares Of the - par @ value value OF l,,,;,l 81
paid and assessable. Two hundred. and
hfty thousand shares will be set aside as
treasury stock, In order TO furnish the
necessary capital for the purchase Of the
at the trustees sale. or for the
discharge of the debts Of the company
already referred 10, and 10 cover the ex-
penses OF the reorganization, the stock
holders of the old company VIII be re-
uuIred to subscribe TO the capital stock
of the new company. share for share,
TO tho extent OF their present holdings
and to pay cents for every share so
Every stocltholder so subscribing Will
receive one share of the capital stock OF
the new, company for each share now
or members thereof. may become sub
scribers to the stock and securities of
the new company and may participate
in the benefits thereof free from rcstric
tIon and as though they had not as
sumed any trust relation 10 this reor-
sanlZation plan.
stockholders who desire TO participate
in this plan will he required to deposit
their certificates OF stock with the Utah
National bank of Ogden, in the city of
Ogden. Utah, together with their remit
tances in full. not later than the LIST daL
of May. 1910. All certificates OF stock,
in order TO be entitled TO deposit, must
be indorsed in blank"