The Evening standard. [volume] (Ogden City, Utah) 1910-1913, 1910-11-09
WEST QUINCY HAS
ISSUED a REPORT
CaRs Attention to the Advieability Of
Merging With the Thomp.
sen Company.


NJ. H. Sowles, secretary OF the Yves,
Quincy Mining company, has sent the
following statement to the sharehold-
ers:
l enclose herewith copy Of the no.
tiee published of special stockhold-
ers' meeting OF the West Quincy Min
ing company, TO be held November 30.
1910, at the hour OF o'clock p. M of
said day, for the purpose OF rhtlfyinG
the confirming the action OF It's board
OF directors in agreeing to sell and
dispose Of all It's assets TO new com
pany. 70 be known AS the Thompson
Quincy Consolidated Mining company.
and also for the purpose of ratifylng
and confirming the acts of its board
OF directors In entering into a written
agreement with the Thompson Mining
company, DAILY Mining company and
DAILY West Mining company and On
tario Mining company wherein 1t is
agreed that certain easements are nc
quired from the Ontario. DAILY and
DAILY West Mining companies on the
1,200-foOt level and other levels. bith
above and below, for drainage and op,
Grafton purposes, having the right and
privilege TO use said drifts and tun-
nels for drainage and lngess and
egress for material for operation pur-
poses and the taking out of ores and
waste, together with all dumping priv
ileGes.
You, as stockholders. realize that
approximately S1SO.0oO has been ex-
pended by the West Quincy Mining
company in attempting to develop its
property without financial success he
cause OF the large quantity OF water
encountered and inability TO remove
the same by pumping or other meth
ods, and that the only practical meth
cd by which the property of the West
Quincy Mining company can be de-
Veloped on the lower levels Is under
the present system. The Thompson
holdings consist of about 1856 acres
lying adjacent 10 the DAILY West In
order to reach the territory of the
West Quincy it was necessary To com
btne with the Thompson Mining com
pany, as these drainage tunnels will
necessarily have to be extended
through the property OF the Thompson
before they will he OF any benefit to
our property. We have combined the
acreage owned by the Thompson with
that OF the West Quincy, the West
Quincy owning only flye-eighths of
S9.3OS acres, and the Thompson Min.
Ing company owning the absolute fee
simple TO 46575 acres. and thoy have
agreed TO issue out or the capltaliza-
ton of l.25O000 shares of the pro-
posed new company. OF the par value
OF 81 per share. non-aSscssable. 200,-
oh IL 20 A. MI.
Ontario and DAILY mining companies
for the easements which We have ac-
qulred for drainage and operation pur-
poses Under this system we can
mine at any level upon which they
have drift or tunnel. and under the
agreement can use at actual cost the
machinery and holstlng plant OF the
DAILY West for the purpose Of convey
ing into our property material for use
in removing ores and waste. The
property as IL stands has no CONNER
cIal value unless drained by this sys-
TEN, Other adjacent properties have
entered Into contracts with tho On.
traio. Daily and DAILY West Mining
companies, making use OF the same
drainage system. Under the contract
with these companies they agree to
extend their 1.200-foot drain tunnel
10 the line of our proposed consol-
dated company This will be the line
Of the present Thompson ground.
II is the opinion of experts and par
ties interested In this combination
that. commercially speaking. it will
create a demand for and increase the
value OF the shares OF stock, II IS also
aereed that the stockholders OF the
West Quincy Mining company will re-
West Quincy Mining somany will re-
ceivc the same number of shares In
the consolidated company that they
now own in the West Quincy Mining
company. We feel assured that IL you
we're here and looked into the sltua-
tion thoroughly that You would ap.
prove of this plan In every detail. It
Is not a plan which has been devcl-
oped in a few weeks but has been
under careful consideration for a Pc
Tiod of two years and more You are
invited to employ and disintercsted
expert TO look into the situation and
examine all the papers and plnns of
procedure, and We feel assured that
his opinion Will be To the effect that
this Is the only feasible method OF
developing the property In question.
and OF adding increased value TO your
holdings