The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1912-05-18
Nevada Utah Is In
FAIR WAY TO Make ADJUSTMENT
Of Its Entangle|nents

According to a message rseeNeo
from the east few days ago, the
reore anizaticn plan tf the NeVa1a'
Utah company contemplates an as
sessment of 80 cents a share, seocA-
holders receiving the amount CT Tue
assessment In = per cent convert
Ma bonds, one share Of new STOCK
to be exchanged for one share oi
the old. The first insta lneAt Oh
thirty cents is to be paid on or pc
fore May Is. the balance In t"o
equal installments OF ten cenes
csl May 81 and September 81.
transfer tax OF 20 cents per 1Vo
shares Ia payable on deposit. STOCK
holders who have deposited tneif
stock with the Favey comnliltee WA
be snti. led to participate in lAis
plau by surrenerdg their certificates
or receipts to Trippe & Co., !; thes
will receive credit for whate II they'
have paid already.
The New iorA Mining Age says
.srhe next sl,p will be ior the re-
OfSllnlZalSn coihhhASsSS ~ N'
the properties at receivers saie
to te he'd In Utah and the present
committee is prepared to make TINS
purchase ana siyy eult.p.S p4vlSee-~.-
To lne preseLt creators CT us COLI
pany. Al the event taa. .4e t1S.
er.les should lie pid up u u t.SHte
beyoAd what the present commAt'ee
believes tae proper ties to be wortn'
the money obtalned from the present
snarenAuu>rs Mli4 ~ re.uinsu .A-.l~S
the expenses OF re-orsanization. mere
is very A-l.e lA.iAouu "a .Ais ae'N.
opmy..t Icvulilns, however, as lhN
largest creditors CT the company nave
a.reauy expressed tAe.r sa laia.tloi.
vita tne lerns cfrereA th.7A Ia tn
settlement Il their claims BY ht
preseNt committee.
lne new company will be known IA
ths Consolidated Nevada ltah com
pany, anu viii be incorporated hi
1000. 900 shares CT the lar va.ue oi
So each, while the issue OF first mort
gage per cent bonds. amountihs u
100000 will be issued in addition
According to The schedule re~ehts
submitted Ct the conpanys aeptS
there is due fer taxes In Maine <To
The secured claims amount u slaV,
900, the largest Of these being one 10
$y2 $50 of L. Vogelstein 4 Co.. ans
one for the Bristol Con. Mining CON
pany. The largest Ct the unsecwe1
Gains Gains are. Patterson Nationa
bank, Paterson. n. j., $1oOO; Joan W
Grisss, !,ttlrso''. n. j., Sa,hV; Z. J
Ctlyu.a. A. w Yoil, $ 5,H7, and oth
els bringing the total up to s44,2oe
In addition to these are alspute'
claims amounting to $lSo,Oe0,
which the largest Is note 10
s125,O0O, held by the Merchants BAN
OF Salt Lake City. 1t Is ais
shown that the suosideraly eompai
les aie indebted t. Others In a
anounI sreatr than $4,000, asia
from certain disputed Gains agalps
these companies. The neauie ,
ussets filed shows principally
large amount CT debts que t. the NJ
vada Utah company from subslderai
companies on open accounts, IA
shown at the face value 10 {
worth $307,7i3
The plan CT operation is to In
moaiate!~ start work at the compan!
properties at Phoebe, New, and
gin making shipments SO that II
company can be plaeed upon at lea
self-supporting basis and earnini
made to pay interest en- bonds. II
management CT the property Is
be CT the most economical kind.
that all the earnings obtained mi
be turned TO the benefit OF the col
pany, and the officials who are
become associated with the propo
tlon are to serve for purely nomin
compensation, In fact, It Is ike
that no salaries whatever will
paid to anyone until s substant
earning basis has been established
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