The Calumet news., 1912-08-27
BUTTE & SUPERIOR WILL
ADO MORE TERRITORY
SPECIAL MEETING is CALLED TO
ACT ON PROPOSED INCREASE
or CAPT.

Announcement has been madc this
week OF a special meeting of sharehold-
ers Of Butte and Superior Copper COM
pany. to consider the proposed author r.
zation Of an increase In the share capi-
tai II the shareholders authorize IA,
increase. about 30.0oo shares ct ths
stock viii be offered to shareholders
at a price Of $3.50 per share Thai
VIII mean an offering of che new share
at that price for every eight shares
now held The risht To- subscribe Will
accrue to stockholders of record sept
2G.
The purpose of this Offering is o.
enable the company 10 take up a lurg,
additional acreage adjacent to IT'S pres
ent properties IN Butte During On,
last six months the eXtraorlinary 6c-
velopments in the Butte and superior
company's mining claims convinced Tho
mine managers that great future eN-
lists for much Of this adjacent property
Among other developments IN ih,
Butte and Superior properties long
cross-cut was driven from the Biac!
Rock development so-oallcd north
west 10 a correction with a group of
properties controlled 10y the Butte au,
Superior company. I'm the course oi
this cross-cut much information %.
value was disclosed as TO the prospect
Of the territory i'm question.
Immediately after reaching dc
cision upon this matter active an
quiet work was irauguratcd Co. JCqur
as much of this territory as possible
with the result that a larse amoul
Of neighboring property was acquir,
before the general competitive buyIr
put a pr'hibitvc price ou prousrr
in that section.
Il has been rumorcd that tacsc al
accent properties would be taken ave'
los a new company. the shares ol "heI |
would be- offered shareholders of Butt,
end Superior Copper company Thcr
was much that was very attractive 3.
that form ~ independent orglnla-
uoh % control and operate these prep
critics. il appeared. however. that ths
knowledge which suggested the az
0uirement OF these proryrtc,
was obtained through The po.
sition u trust occupied by officers
and directors n the Butte suI Superior
Copper company. and upon mature re-
lection it appeared perfa tly clear that
ems know edge -o obtained should hp
exercised onlr Iu behalf ~ the Brrs
su6 Superior Copper company itseE az
p corporation and not for the benefit
- such shareholders as might ylb-
scribe 70 The now COMPANY Hence. az
abe options which have been obtlln.J
have now been turned over 90 Butte
aIj Superior Copper company. with
out cent of profit 20 ans body cor
cerncd.
These options call for moderate pas
ments ~ The present time. and Tor .r-
Ftaiment payments over "a considcrauI,
period ~ time. The money thus ui,-
vided win Dee used 90 finance the fur-
ther prospecting and deyeupu- nf
these new properties as il - fclt tH4tl
expenses of this sort sHoIlI not a.
placed as burden upon the income /
account 0f the Butte 4uj Sura.o-
COPPER COMPANY whose stockholders
may reasonably expect f1 share af soon
ss the company is able tu make f,s-
tributiou
without doubt the options nor.u !
referred TO. which have been wruor
over TO Butte ard superior Copper
company at exactly cost. could now Doc
sold boz %, open market 40 q LARGE
profit Hayden, stone q Co.,