The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1910-05-12

decided break
develop by sale of treasury stock hereafter 90 ahead
with its work by ASSESSMENTS The following notice has been
mailed to stockholders:
J.. To the Stockholders of the "
TrahsContinental Silver Copper Mining Company Ltd
special meeting of the stockholders the Trans
mental Silver Copper Mining Company Ltd was he'd at the
once OF the company 1924 ONei Samues Bldg Wallace
da on the second day of May A. D. 1870 clock o. M good
majority OF the outstanding stock the meeting
f in person and by proxy
The meeting called for the purpose of discussing with the
ways and cancel the indebtedness of the
company and thus the property from being attached by the
creditors After some discussion of the condition the
was decided to raise the necessary funds by evyng
assessment and the following resolution carried unanimously
Whereas the minutes of meeting the stockholders held
the End day Of October 1908 show that was made
the stock of this show that
at this meeting there majority the outstanding stock
OF the represented either person or by proxy and
further show that the motion was not seconded,
Now therefore be resolved that all of the records and min
ues pertaining to said motion and the motion itself be stricken
from the records and minutes OF said meeting for the that
the same legally made carried and for the reason that
the same was not made at legal meeting stockholders and
Tor the reason that not carried by majority
thirds vote of the stockholders majority or two thirds of the
stock represented at said meeting.
And be 1t further resolved that the stock of this company be-
from now hencefor has always been now assessabe
stock subject to the levy of legal such
the Board of Directors hereof may levy the same as pro-
vided for by the Statutes Of the State of Idaho"
Following the stockholders meeting directors meeting was
held at which assessment of two mills per was levied
the capital of the corporation now outstanding
OF which you will find herewith.
development done the property during the past year con-
sss OF rosscut which was run from the main ad north for
distance OF "A feet at which point nerseced the foowa
near same streak OF black tale about inches wide was en-
counteed which shows good values in lead and silver station
has been cut Is feet from the portal the tunnel and is 10 feet
WIDE % feet long, and IA feet high this station we'll tmbered
and large enough to install small hoist The shaft that was
started is four by six feet in the and about nine feet deep
We intend to sink this shaft depth of IS feet with the use
wndass after which the installation of pump and small hoist
will be necessary in order the work economcaly
cut tunnel has also been started Roee claim and was
for Al feet to prospect what claimed be ledge that
raverses our property Considerable time has been used
tmberinR different places in the main tunnel
is the to do development by sale of treasury stock
but the seemingly general lack of interest mining matters has
made it impossible for to raise funds sale
treasury STOCK unless exceptional showing made
attention and this we hope to do in the shaft and by
doing provide our funds and yet maintain price upon the
ury stock which would not sacrifice of the
holdings. ~ s& 49, ~
During the latter part Of last kept up development in
the hope to find market for treasury stock for is really
anmpossby accomplish this when upon the
suspended During that time the then existing indebtedness
Of the company increased to total of This indebted
ness was contracted as follows:
Engineers report advertising printing and stationery 1924
Supplies, blacksmithing and livery 317E
Labor performed during Aug, Sept Oct Now and
Dec in 1909 and April 1910 1890
The directors OF your company have made every effort to place
treasury stock but for the above mentioned their
has been very limited In October 1902 when the treasury stock
was reduced to about shares found it necessary to
build the treasury and by mutual agreement Hutcns Mr.
Marowe and Mr. Schierdng donated aggregate of
shares OF their personal stock to the treasury the company
It is the desire of the management lose no time in develop
ing the property and trust that this also the wish of
stakeholder therefore hope that all stockholders without
cepon will stay with and promptly respond the
The aggregate amount of this small assessment will give the
company about and after paying off the indebtedness of
the company will leave fair the property in good rum
ming order after which the selling of treasury stock will
easier
report the physical condition the property
panied by financial statement will be hereafter to all stock
holders on record July Oct l. JAM and April l. of each
year following .@ sr mn :
If further information desired BY any Of the