The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-20
ALTA COMBINE
IS UNDER WAY
South Hecla Stockholders Are
Informed of the Prop
0sfti0n.
SPECIAL MEETING
SEPTEMBER FIFTH
Promoters Promise to Finance
Company for Extensive
Development.

Since the FIRST OF the year some Michi-
gan mining operators have been round
Ing UP several properties In Alta, WIZ
a view to perfecting a merger OF hall
q dozen or moro mining groups. They
have been doing their work quietly and
only those directly interested In the dea
were in touch with the work being done
1t has been known that II was the pur-
pose to have several properties come into
this consolidation. A holding company
was organized, and several companies
operating In that district have been In
vited TO exchange their shares for STOCK
nouncement was ever made OF the pro-
posed merger until yesterday, when a
statement was sent to stockholders OF
the South Hecla Mining company,
While several Of the companies In
Alta have expressed Willingness 70 put
their holdings In with other properties OF
that camp. II seems the promoters naVe
not yet obtained desired consent OF all
owners.
1t is said the men at the head OF this
consolidation plan can give ample assur-
ance of tho proposition being hnanced1;; 1an q;
the money that will be needed. The let
ter sent to South Hecla shareholders Is
as follows:
Plan Of Merger.
ITO the stockholders Of the South
Hecla Mining company. Gentlemen-
OF e special meeting Of the stockholders
of the South HecIa Mining company,
called to be held at Salt Lake CITY, Utah,
The Sth day Of sspSesse az sd iS day
''As you will see this meeting is called
for the purpose Of taking action upon
the question Of ratifying the acts OF. Of the ne
board Of directors at meeting held on
July 22. 1911. whereby the board of di-
rectors authorized the execution OF
contract With James ?. Edwards ana n
OF the property and property interests
of this corporation in exchange for 120,-
900 shares OF the capital stock OF the new
corporation to be organized by the said
Edwards and Haire.
II deem 1t but proper to say that these
gentlemen are endeavoring 70 organize a
corporation to take over the property. OF
Grizzly Mining, company and such other
properties In the Alta district as they
deem advantageous. and these men, II
they organize the corporation, VIII finance
the same on large scale, and the board
OF directors, believing that II such cor
poration is organized, IT would be to the
holders OF this corporation to transfer
its property to such new corporation and
accept 10000 shares of stock in the new
corporation n exchange therefor. and
tIon Of a contract on behalf OF the COR
poratlon which IS not TO take effect un-
less II Is ratified by the stockholders
and therefore the stockholders meeting
has been called to consider and pass
upon the advisability of entering into a
contract along the lines suggested, and
as this matter is Of considerable import
ance to the stockholders, II Is hoped
that you will see your way clear 10 at
tend and participate in the considerations
Of the stockholders at the meeting so
called.
'If. however, you will not be able TO
attend personally, you may execute . the
enclosed proxy, inserting the name OF the
person you desire to vote your stock at
said meeting. and send II either to the
party named. or to the secretary Of the
company. Very respectfully,
GEORGE II. WATSON,
president