The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-03-18
[IIs ANNOUNCED
||DR REDRCAN|Z
A, Bull and Booth Compa-
|nies Will Be on Assess
able Basis.
6EsSMENTs SMALL
Ii Companies Will Be Re-
|prganized, but No Con-
solidation Made.
SEssMENTs 81

m,lal announcement has been made
.otces are being sent to stock
J, of both companies, that the
pu and Booth companies are TO
.-mediately reorganized on the as
MA stock plan and that assess
I, will be levied, after the reorga-
iu shall have been perfected, for
impose OF raising funds for the
arb development of both proper
avs the Goldfleld Tribune.
d is In line with the statement
sy George Wingfield. who con-
AMI Is president or both companies,
4 ,s believed TO he the method Of
fbe best assurance that these
.,,jes will be developed and afford
~ hest chance TO make producing
N them Mr.. a II Lowe, sec
\ and treasurer OF both companies
s4rsssed the following circular let
4 stockholders OF the Blue Bull
- Company.
sockholders OF Blue Bull Mining
lHDy,
gradual enlargement of the pro-
area Of the Goldneld Mining dis
d resulting in important develop
! IN rronerties adjoining the claims
q Blue Bull Mining company. Ee-
Significant developments have oc-
n In the property of the G. y. d.
rHaied company lying To the south
and orc Of good grade has been en-
krsd. on the northwest of our
4 the GoldfIcld Merger Mines COM
Is sinking a shaft to the depth Of
feet II is the opinion Of your
rsmcnt that prudent business
IA dictates the early resumption OF
h work oil the Blue Bull.
my Of Property,
district the Blue Bull was quite
ftntly developed. both by the com
itself and By leasers, with the re-
lat ore OF fairly good grade In linn
quantities was encountered TO a
Of 100 feet. A few small ore ship
b were made, but the extent OF the
klments was not sufficient: nor was
fade Of ore high enough. to show
table profit. j, has long been the
Of engineers. however, that devel-
nk al greater depth should show
gsnent both in the extent and value
= ore bodies found IN the property.
tslIef is rnw justified and strength
bs the discoveries In adjoining
f1es nbove mentioned.
'ntunately the COMPANY IS not on
'Aout funds but is indebted TO a
mount Its only resources con-
q treasury fund Of 290,1 shares
~ Il is not possible To finance
inns hv the sale OF this stock for
1son that any price at which this
nnid be sold would only realize 2
gE'clent for the operations for q
Nor two at the most
management believes that the on
z'he method Of raising funds for
elent and proper mining work is
seorganiZaiion OF the company on
ftsssbe basis. The assessment
Fe has been very successfully APP
20 Inc mines Of the Comstock and
N OF Tonopah, both OF which are
nperlcncins 4 period OF renewed
nly. Manv OF those companies
situation identical 10 that in
ine Blue Bull company finds IT.
The present, time. hit by favor
pn''gnous development and the APP
on oi the assessment principle
r,ve been rehahilitgted and brought
Eage OF healthy development and
p7iy: To permit the company 10
IN Its present state of Inertia.
me Dresent encouraging outlook.
np neither prudent nor iustIflable.
'noIoers can only hope TO realizs on
's.nsimeni hv pursuing an aggres-
Outlined.
following plan. determined upon
pnshlta,ion with the principle
oners, With which they unanimous
VIII supply the activity in the
AZ dHa!rs necessary 10 success.
ulpute The burden easily among
mnooineTs Droportionately to their
Milnout weighing heavily upon
y organize new company with
s,,.1 stock. 10 be known az the Re-
ssa Blue Bull Mining company to
e,Ir the property Of the present
fr MinlnE company.
permit stockholders OF the pres
= w Suli Mining company to eX-
"eiI Blue Bull Mining company
an s.ock OF the reorganIzed COM
u" equal basis. or share for
rr not the intention 10 levy calls or
"H oi more than cent per
oat solng plan VIII be speedily car
Gsrr snn after the necessary pre-
,fr mnIeps have heen taken, stock
foiinmD ne notified OF the procedure
aharss"sa IN exchanging their pres
1a1aS9 Tor new shares. Work will
on the propertv at once.
Aonrs respectfully.
= A. II. ROWE.
nIhy secretary ana Treasurer
HAT. nouces arc being mailed to the
VI the Booth Mining Com