The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-23
Bingham Copper Company Has
Issued Notice of Special
Meeting Pending.
TO INCREASE THE
CAPITAL STOCK
Or, Perhaps. Bond Issue Will
BE Authorized to Meet
Present Needs.

Under date Of May II President II.
Hart and Secretary Carl Brandt OF the
Bingham Copper company issue the fol-
lowing statement 10 the shareholders:
The work done at the mine during the
past year has been more extensive and
satisfactory than at any time during us
existence. Under the very able man
agemcnt Of w. n. Bohm our engineer,
new tunnel has been run U200 rceD
from the old May Queen tunnel 10 cut
the property NJ its whole length and
we are happy to inform you that sew
eral good orc bearing lime beds have
been cut All OF these ought 10 show
good commercial values of calcna With
little more development work. our OBJ
iccL being. however. TO get into and an
der our Diamond claim as quickly as
possible We did not stop TO develop these
beds, but ran along with tho tunnel as
laid out ard have just cut the cele-
brated Dana assure at width OF four
feet. twelve inches OF which showed good
shipping, the rest excellent milling ore.
Unfortunately, conditions in tho mining
know. at their lowest ebb during the
past wear and your directors had the
hardest possible time 10 raise money
enough TO keep going. Persistency and
personal sacrifice. however. enabled them
10 carry along the work till orc bodies
believed TO he present were actually en-
conniercd; then, however tahout two
months agol. they were reluctantly
could he found 10 finance the mine suf-
ticiently 10 put IL on paying basis
This problem VIC now face and your
directors have worked hard to bring in
large interests which would be able to
easily push tho development of our splen
did prospect 10 what your directors be
llcve will soon be wcllpaying mine.
In order To bring this about a reorgan-
iZatloD is necessary and 1T is tentative
ly proposed 30 change the capital stock
10 800, ono shares of par value OF 81. or
these. 10000 are TO he exchanged for
the old stock (Sooo par value SD and
the balance to he put under option at
q good figure Ia such Interests as may he
thought advisable
Another way of reorgsnza lion would
he 10 form new company with an in
The old one 81 per share(, exchange this
share for share for tho old stock and
offer part of the new stock left 10 the
stockholders at n fair figure. Stil an
sue Of convertible bonds. should that
he decided on. The new stock could
also he made asscssable n the stockhold-
ers should prefer hat method to the is
suing OF convertible bonds.
\ stockholders meeting TO take action
on these questions viii take place AT
Cheyenne. Wyo. on the 2tst of June.
hence YOU are requested 10 siGn and re-
turn tho proxy attached TO inclosed call
promptly in case Won VIII be unable to
IN order that a quorum may he
assured 10 transact business of such i'm
portance to all stockholders.
Your officers being large stookhold~
ers have worked for what seemed to he
the best interests of the company and
having demonstrated the prospective
value Of tho property request The CO.
operation Of every stockhnlder 70 the
end that all may participate as soon
possible i'm tho success or the company
which now seems better assured than
ever before.