Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1913-06-13

no West End, Halifax and Monarch |
p,nsburg companies is not to resign |
his position. nor do the company |
o,aeials contemplate asking for his
resignation.
The above statement was made to-
day by both Brady and Ben Edwards,
dee president of the West End com
many, who arrived from the coast
this morning.
Neither Mr. Brady nor myself have
heard anything OF the resignation
declared Edwards. land II he is to
leave the services of the company
the fact has not been communicated
10 us by the brokers who have been
Instrumental in spreading the infor.
nation"
For the past three days persistent
mmors have been In circulation. not
only In Tonopah, but on the coast
and also In the east that Brady was
10 sever his connection with the 10.
cal companies he is connected with.
other rumors, serving to have de.
ureciating effect upon West End stock
have also been heard, but the EN-
phatIc statements made today by
bolh Edwards and Brady brand the
reports as false.
Although vice president of the
West End, Edwards is logically at
the head OF the company y has
long directed the affairs OF gha West
End company, the executive work be
Ing left entirely In his hauds by
Frank NJ. C'Borax") Smith, who il
The president.
shortly after his arrival this morn
Ing Edwards gave out the following
signed statement to a representative
Of the Bonanza, which thorough!
explains the stand OF the eompan!
and proves false the rumors that hay'
been placed in circulation:
Since my arrival. have been ASK
ed by numerous people regarding =
mors affectinf West End interests
and desire to make the followin
statement, as | believe II is du
stockholders and interested parties
know the exact facts.
First, the rumor that Mr.. Brad
had resigned, or that his resignatio
was asked This was news TO bot
Mr.. Brady and the Management
There has been absolutely no grount
for such rumor. the services
Mr. Brady having been entirely 50
isfactory to this company to dat
and Mr.. Brady assures us that
has no thought OF resignation.
Replying to questions asked as
the holdings OF Mr., +. NJ. Smith !
ing dumped on the market, or I
likelihood of such an occurrence.
wish to state authoritatiyely II
this interest is in no way hypothec
ed nor In any way affected by
affairs of Mr.. Smith which have be
put In the hands OF trustees.
THE entire West End interests
In no way involved, nor will Il
be, nor will the stock be dump
but win be held as 1t has in
past, with the idea of developing
large mining property, which has
ways been the idea of Mr. SIN
who has had such unlimited Il
in the property that at times W
he was unable to place any treas
stock, at any price. for the raisint
funds for development purposes,
at time when West End was qut
on the market at 25c a share,
Smith offered to take certain amol
sufficient to continue our deve
ment work, at the rate OF SO
share, being double the market p
This was accepted, and carried
by Mr. Smith
AT a later date, beginning
1905, he advanced from time TO
as required, until February, 1909,
ial of $4,000 This he carried
the West End company, unsec
until November, 1909. when we
gan paying the same, and rt
same fully during February, 191
In addition to this, he advo
for the West End company $780,
toward the purchase OF the larR
terest we now own in the HI
Fonopah Mining company.
Furthermore, when II was de
Wise to purchase the Midway mil
remodel the same. it was nece
70 secure advances which aggFe
$4,000. This, again. Mr.. smit
vanced for your company. sec
me same from various banks Q
notes, and which same has bee
Afely repaid to Mr.. Smith frol