Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1910-05-31
PLANS OF The
REORGANIZATION
OF The RESCUE
NEW COMPANY TO EXCHANGE
SHARES WITH THREE CENT
ASSESSMENT.

The stockholders of the Rescue
Consolidated Mining company have
received a circular letter from the
officials of the new company that
was recently formed to take over
the management, in which it Is
stated that the stock will be ex-
changed share for share with an as
sessment of three cents per share. !
AS the original Rescue stock is |
non assessable, the plan is adopted
to exchange the stock and in this
way collect the equivalent of an
assessment. The letter sent the
stockholders is herewith printed ia
full as it gives the full plans of
the idea of the reorganization:
The Nye and Ormsby county
bank of Tonopah, from time to
time loaned to the Rescue CONSOLE
dated Mining company of Tonopah,
for development purposes, moneys
in the aggregate sum of $4,000.
The bank demanded payment of its
claim against the company with in
terest; the stock of the Rescue be-
ing worcestershire, the directors
had no means of raising the neces-
sary money to meet the demands
of the bank and therefore could
do nothing to prevent it from TAX
ing Judgment against the company
and buying its property in at sher-
ifs sale. There is yet time to re-
deem the property, but the stock
holders must move at once to that
end. The great developments now
being made by the Tonopah Bel
mont, at depth of 100 feet, has
disclosed a large body of ore, an6
the Eula being the adjoining claim
be quite evident to all stakeholder
of the Rescue of the Importance o
redeeming the property. The di
rectors of your company have de
vised plan whereby the stock
holders will have a chance to agai
make their shares valuable, wit
more than an even chance that tn
the new shares will become wort
as much, or even more than thos
of the Tonopah Belmont.
The plan of reorganization
the following:
A new company called the Re
cue-Eula Consolidated has been il
corporated with a capital of 81
100000, divided into 10000
shares of par value of 81 each
stock fully paid and assessable-
to take over such title and int
est as remains in the Rescue Co
solidated Mining company; $4,000
shares will be set aside as trea
ury stock to obviate assessments
the future. The directors are ;
well known men in the commerce
world and ought to be a guarant
that the affairs of the new col
pany will be conducted in bu
nesslike manner.
They are:
A. B. Ruggles, president S
Francisco stock exchange; Char
D. Laing, treasurer San Francis
stock exchange; j. w. Dorsey,
torney at law; H. Zadig, Zadig
company, brokers; w. D. Sanbol
merchant.
In order to furnish the requis
capital for redeeming the proper
of the Rescue before the time
redemption expires, it will be
cessary that every stakeholder
the Rescue Consolidated Mini
company shall exchange his shar
share for share for equival
shares, in the new company cal
the Rescue-Eula Consolidated,
or before the 25th day of il
which he may do by payment oil
cents per share to the secretary
the company. Please send "
stock with draft to Charles d.
ney, secretary, Rescue-Eula Con!
idated Mining company. 339 b
street, and he will issue like nj
Der of shares of the new corpc
ton in lieu of those surrender
By order of the board of dill
tore.
CHARLES d. OLNEY
Assistant Secretary Rescue-Con
idated Mining company.