The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1911-02-25
Pi0Che Merger Deal
Has Been COlSuTnnlatGd
Only Minor Deals Yet To Be Arranged Official Statement
FOtrssss0gmng As Soon As Papers Actually Pass
Letter From President Ernest R. WOON6y.

lowing statement sent to sharehold-
ers of that company by President
Woolley just previous to his depart
ure from New York.
II take pleasure in informing you
that an important transaction is
, now pending between your company
and two other mining companies.
| whereby merger of Phoebe mining
interests is provided for on terms
| favorable to Nevada Utah.
THE ownership by the Nevada-Utah
| Mines and Smelter corporation OF
seventeen miles of railway, together
| with the acknowledged ability OF your
management to finance a consolida-
| tlon of heretofore conflicting in
terests, has placed the Nevada Utah
in strategic position, and the
greatest possible advantage is being
taken of this fact for the benefit
OF Nevada Utah stockholders.
The names of the two properties
which are to be merged with various
properties of the Nevada U tab situ-
ated in the Phoebe district, inelud-
| ing the railroad and excluding all
| other properties of the Nevada Utah
are the Prince Consolidated and the
i Consolidated Phoebe. The va ne of
the interests to be acquired by the
| Nevada-Utah in these two properties
Is great.
by the terms of the proposed mer-
ger not dollar of Nevada Utah mon
ey is to be paid out of it's treasury,
nor will it be necessary for a single
dollar to be paid over by the New
a,la-Utah to take title to the new
properties.
:" If the merger is consumated the
transaction will be completed by the
deciding of the Prince Consolidated
the Consolidated Phoebe, and that
portion of Nevada Utah territory in
Phoebe and its railway to the new
company A holding in the new
company more than sufficient to con.
trol it will, under the plan now be-
ing worked out, pass to Nevada
Utah.
There can be no doubt that New
ada L tab stockholders will profit to
a treat extent by the final encom-
passment of the arrangements that
are now being perfected.
The papers have already been sign
ed, but the transaction has not yet
been completed, the deeds not hav-
ing been turned over to the organiz-
alton of the new company not yet
having been perfected. Statements al
ready published regarding the terms
of the pending merger are unauthor-
lied and misleading. | call the at
tention of stockholders to the wis
dom Of not giving serious considera-
tionN to unofficial utterances regard
ing the plans and transactions of
the management of Nevada-Utah.
reiterate the statement made by me
on becoming president of your com
pany, that | believe that stockholders
are entitled to receive information
at first hands regarding mine devel-
opaeAts and company affairs, and
that while | am president | intend
to protect the interests of stockhold-
err by conveying TO them informa-
tioA at first hands as soon as it can
be sa1ely communicated without injur
ing the common interests of all.
: AS soon as the very important
ira section herein referred to il
Completed shall lose no time ii
layiag before stockholders in minutes
, detail an account of the entire pro
ceelings. Pending Its consummation
however, l believe stockholders may
fell citite themselves on the proba
t bility Of new and highly success
full career opening for Nevada Utal
almost Immediately through a new
ly acquired control of great pre-
: ductive area in the Phoebe district
e The properties have a vast tonnag
g of ore in sight and require only a
e extention of our railroad for less tha
t five miles to place them in a pos
y tion TO earn dividends.
k In conclusion ] ask stockholder
s not to be impatient for more defir
J. lite news. Some wild guesses ar
: being made as to the exact tern
b of the merger by the business re
" representatives of capitalists who al
l. heavily interested liz adjoining prol