Weekly journal-miner., 1911-07-12
PROPOSED DETAILS
 OF GOLD ROAD SALE,
(Mohave County Miner)

of the Gold Road Mining and Ex-
 ploration eOmpanys holdings to the
 United States Smelling company and
 the probable terms of the sale. The
 Miner is now in position to give
 some of the proposed details of the
 sale, as a meeting of the stock
 holders of tke company has been call
 ed to meet in Prescott on the 17th
 to ratify the deal. The whole trans
 action for the company has been through William Bayly,who has been in Paris the past several months, and Sidney J. Jennings for the United States company. The prOpO- sition that the stockholders will have to vote on in ratification of the deal is the acceptance of $1,200, 900 in cash on the 18th of this month, and the further payment of S11 ,S9991, and the obligation of MT. Jennings to redeem the bonded debt of the Gold Road company amounting to the sum of $2O6,25O, and the carry ing out of all contracts now in force of the part of the Gold Road com pany. The deal carries with it the aeeumulations in the treasury of the Gold Road company from the first day of February, 1911, but the com pany will disburse to its stockhold- CTS the accumulations in the treas ury prior to that date. It is under stood that the sale will represent the sum approximately sl,6OO,OOO when completed, and that the company taking the property over will expend in betterments more than half million dollars.
 There appears to be little doubt of the ratification of the agreements of the company with both Bayly and Jennings, as the majority of the holders of the Gold Road stock have signified their willingness to accept the terms offered.
 Among the contracts that will have to be carried out by the new cor pOration is that held by Henry Lovin for store and other concessions at Gold Roads; the contract with the Desert Power and Water company; the contract to protect the Gold Road company from litigation that may grow out of the use of certain methods of gold saving now in use in the mill of the company and all personal injury cases that have had their origin since the first day of February.
 Few people recognize the import anee of the entry of the United States Smelling company in this big way into Mohave county, but the fact that they are getting a foot hold here and that they recognize our mining importance will be worth | millions to the mining industry of | the county. It is understood that more than 700 propositions were put l up to the United States Smelling company the past two years and | forty of these were deemed worthy | of examinations by the engineers of the company and only two were favorably reported on for purchase, the Gold Road mines and a group of gold mines in Alaska. About six others are having some preliminary work done on them to satisfy the of their possible worth. When people realize that Mohave county had one of the mines that was considered worth buying out of all these properties it surely means that we have one of the great mines of the world in the Gold Road property. And with the usual busi- ness method of this company applied to the Gold Road mines the produc tion of bullion will be more than doubled within the year and better ments of millions of dollars made in the camp.