The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-10-06
PLAN OF SILVER
PICK EXPLAINED
New Company to Exchange
Stock Share for Share,
Plus Two Cents.
TO BEGIN OPERATIONS
Engineers Pronounce Groups
Valuable and of Much
Promise.
TO BEGIN OPERATIONS

The importance of the work being done
By Zadig g. Company Of San Francesca
in reorganizlng and financing Goloheld
mining companies. yescuing them from
helplessness and debt. again IS ennpha-
sized by their plan 10 place the SILVER
Pick company on it's feet. The directors
OF this company have Issued state
msnt 10 stockholders under date OF sep
ternber %. copies of which arc now be-
ING received by Salt Lake shareholders
This statement follows:
The great success Messrs. Zad's *
Company have met with In the reor-
ranization OF the Rescue Mining company
on the assessment plan, and the success
they are now meeting with IN lep'
gani5iuz the I!ailstonc and Eagles Nest.
has Induced your directors to autnoriIe
them 20 effect reorganization oi thls
company on the same lines which were
followed In the Rescue Eu!a Mining
company
In view Of the fact that under con
ditious heretofore prevailing IL has been
impossible for your company 10 raise
sufficient iulds for the payment OF us
debts and the proper operation OF lts
properties, 2 reorganization IL absolutely
necessary. Several plans have been dis
cusscd by your directors and each mas
been carefully considered. |, has been
their cndeavor To select the one which
would insure 10 tn" stockholders the
greatest and most lasting henehts, IN
other words. TO sec that the company IN
which they obtain an interest IN eN-
chang Tor their present holdings so
orcanizsd that &, Is an assured Tact mat
" VIII DO able to carry or operations
permanently. Your directors are con
Inccd that reorganization which will
merely pui on the inevitable Gay Mhen
your COMPANY shall 20 20 the wall is
worse than no reorganization al an.
Thcv have therefore accepted the oner
~ Tie Silver PICK Consolidated Mines
company
No Promotion Stock.
The silver Pick Consolidated Mines
company l. incorporated for l,"o". ooo
shares of the par value Of - ssch,
stock fully paid and asscSsable, All OF
~. -tcck - This corporation has heeu
placed IN - treasury, 10 be issued only
!n exchange FOR cash or property Not
. share cf this stock is to be Issued to
Herman Zsdig of the hrm Of ZsdE
& Company % san Francisco Is the
president u the now company y. u
u plney of san Francisco is tho ser
rcts~r Additional directors arc Edwin
= Van liNck and T.. {. Watson of Colo
pr,d. ana Emmet l.. Barrett of The nrm.
''Tn, silver Pick Consolidated Mines
cnmpkpr offers To exchange It's stock
fer stock of the Goldhcld Silver Pick NJ
s NJ COMPANY On the basis. Of one
Mines company Tor ono share NJ the
;oldfcld silver Pick NJ G ~. company
stock. plus cents per share. This
cents per share viii furnish sufncicu,
funds 10 nav all dctss and to do ox-
tcnsi,c Development work IS soon as
q sufhrion; number ~ shares have been
exchanged In this manner, the property
N tho Goldheld Silver Pick VI. & NJ
company win he taken over by the silver
Pick Consolidated Mines company
Properties Involved
The silver Pick Consolidated Mines
COMPANY rs already tho owner ~ vau-
ahlo mining property situated In the
Cold Mountain section. about six miles
from Tho came M Unin4ilycr, Ncv. This
cropertv has been developed 10 q con
siderable cNjcut md orc OF excellent
rFsde has been disclosed. BY becom-
iuE stoCkhodcr iu the Silver Pick Con-
solidaied Mines COMPANY. therefore. your
shares viii rcprcEen; an interest In both
the C;oldneld claims 81 the Goldheld Sil-
yer Pick NJ y NJ. company and IN the
property az the silver Pick Consoli
dated Mines company. which l. fully a.
valuah, na The ioldncid claims The
Intrinsic value of your stock. therefore
vii Ec doubled
Your directors havc been informed by
the most tcputahlo mining men that the
claims of the Silver Pick warrant OK
tensive Development II Is. therefore,
thc intention ST the new company to
vigorously and Systematically explore the
property. \ shaft will bc sunk to-
whatever depth MAY seem necessary as
the work PROGRESSES. Development of
'his character should certainly disclose
ore bodies since on the property of the
Gold6cld Consolidated Mines company
Veins of rich orc have been found very
close 10 the boundary lines of the Silver
Pick claims.
How 20 Proceed
''As already stated. your directors
have accepted the proposal outlined above
and vou are urged 10 make the cN-
change Of stock At once. This may be
done hy sending Your Guldhcld Silver
Pick VI NJ company certificates, to-
gcther With the sum Of +. cents for
each share 20 bc exchanged, % the sec
rctsy' ~ the Silver Pick consolidst ed
Mines company. room 40. Nr. 3Sa Bush
street. san Francisco C,1 Checks.
money orders etc. should bc made pay
able 10 the silver Pick Consolidated
Mucs company. Upon receipt ~ stock
aud remittance an equal number OF
shares of registered stock 81 tho silver
Pick Consolidated Mines company will
= sent YOU without delay"