The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1912-03-16
Revised Plan To
Finance Nevada Utah

Full details for the an or read
justment of the affairs of the Neva-
da Utah Mines & Shelters corpora
ton has been received in this city.
says the Salt Lake Tribune. and it
il stated that extension of time UNI
Ill March 81 has been granted 10
stockholders for the subscription OF
bonds in the new company that will
be formed under the modified plan
II is fun Their stated that the ex-
penses of the REIMBURSEMENT have
been materially reduced. The modifi-
ed plan has reduced the assessment
from so to so cents per share, each
stakeholder to receive first mortgage
convertible bonds fer the amount Of
his assessment. together with 200
shares of par value of So pershare
for each 500 paid into the company
This wi give stockholders one
share of new stock for one share
of the old, In addition to per
cent bond for the full amount paid
in. These bonds are convertible in
to stock of the new company at
par. OK this assessment. 80 cents
per share must be paid when the
old stock is deposited, 10 cents per
share on May 81, 1912, and the re-
naming 10 cents per share on Sep
TENDER, 1912. Those who have already
deposited stock with the Columbia
Y. ,n1np ORIGINAL
plan vii be notified by the trust
company of the options which they
possess under the modified plan.
The changes III the modified plan
OK readjustment compared with the
origina! plan CT December 10, l9ll,re'
duce the authorized bond issue from
81 200. 900 to $500. 900. payable at the
rate OF $4,000 each year beginning
with 1918, and the stockholders are
offered $3.50, 200 worth Of these bonds
Instead if $900,000 This leaves bonas
in the treasury amounting to sloo''
600 instead of $500, 600. The assess
ment is changed from 90 cents pei
share to so cents, and the issue OF
new stock will be 2,0O0,o0o shares
of the par value of 50 each, instead
of 1900. 900 shares OF the par Vaiut
of S. each, the total par remaining
the same.
Stockholders in the modified plar
subscribing for the bonds VIII "
p,ven new stock at the rate OF 2o'
shares for each 500 bonds instead
of at the rate of SO IL shares, 81
that they will get one share OF new
stock for one share of the old.
The amount to be realized IRON
tho sale of bonds is s75e.0O0, rathe
than 5000, 600 and the amount 10 o.
expended for indebtednt ss ana reau
tustment is about 100000 instead o
$500 900. leaving about. 1000 10
the treasury of the new company
Under this arrangement, 100000 shal
es OF the 100000 share CAPITA
will be held in the treasury for IN
conversion Of bonds, 100000 shal
es will be issued for oustandin
stock. and $4,000 shares WI
be held in the treasury. The cas-
for the treasury will amount
$3.50, 900. The. Columbia Trust con
pany of New York is the agent
receive subscriptions.
Under this plan it Is thought ths
the money put into the treasury
the company will be sufficient
nut the properties on producing 0
sis and to care for the Openses
the future. 1t is further Thought IN
It is better to adjust the affairs
the company IN this manner al
obtain money for development purp'
es rather than call for an asses
rent that will only be sufficient
vine out the present indebtedednef