Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-05-19
s. STATE OF NEW YORK.


COUNTY OF NEW YORK, SIS.
April Goth. 1913.
Then personally appeared Frank w.
Holmes and made oath that he has read
the above bill and knows the contents
thereof and that the same is true of his
own knowledge, except the matters
stated to be on. information and belief;
and that as to those matters, he believes
them to be true.
Before me,
HARRY c. NOLEN, Notary Public.
Kings Co. Certificate Filed y. Y. Co.
A ISsP1RATIoN COPPER COMPANY.
% Broad Street.
New York City, n. Y, January 6, 1912.
To the Stockholders of Inspiration Cop
per Company:
Enclosed we are sending you two
offers. dated January 6, 1912, as follows
Offer of INSPIRATION CONSOLE
DATED COPPER COMPANY giving you
the privilege until and including January
Company for full paid stock of that Com
pany on the basis of two shares of stock
of your Company for one share of stock
of that Company.
Offer of Guaranty Trust Company of
New York and Kidder, Peabody & Co. of
Boston, to purchase and pay $40 cash.
until and including January 20, 1912, for
each share of Inspiration Copper Com
pany stock
offer must deposit their certificates of
stock on or before January %. 1872, duly
endorsed, with said Guaranty Trust Com
pany or kidder, Peabody & Co., as pro-
vided in said offers.
You will note that the offer of Inspira-
ton Consolidated Copper Company pro-
vides that all stockholders of that Com
pany of record at the close of business
on February /. 1912. will be offered the
privilege of subscribing for its Sc, coo, 600
of convertible bonds at par. As this
toll IL IL
prompt exchange of shares is advisable.
The Incorporation of Inspiration Con-
solidated Copper Company and its max
ing the above offer to exchange shares
are the result of conferences between w.
II. Aldridge and Henry Krumb, repre-
senting your Company and II. B. How
land and Nj. f. Mccarthy, representing
Live Oak Development Company. These
engineers have determined on what they
consider just and fair basis for the
consolidation OF the properties of these
swo Companies. and their joint recon-
mendatien to the stockholders of the
two Companies is as follows
ITO the Shareholders of the INSPIRA-
TION COPPER COMPANY and LIVE
OAK DEVELOPMENT COMPANY:
The undersigned, Committee of Engi-
per Company and the Live Oak Develop
ment Company, have made a study of
the two properties and their respective
values and hereby report as follows:
After carefully going over the maps,
assay sheets and reports Of the said
properties, we find the Inspiration Com
pany ore reserves amount to 38,3d0,O0
ions assaying LIS per cent. copper ana
the Live Oak Company 1500o.0o0 tons as
saying I'll per cent copper
We find the Inspiration Company has
! approximately 81. 100000 in cash in the
! treasury and the Live Oak Company has
! approximately 100000 cash in its treas
| ury
After due consideration was given to
| the respective tonnages of ore and the
amount of money already spent by the
respective companies in the develop
ment of their properties, as well as the
additional amount which will be required
/ for plant and preparatory mining work
to place them on producing basis, II
/ was agreed that on the present issued
capital stock one share of Live Oak is
! equivalent in Value to four shares OF In
| spiration, and we recommend that the
| Inspiration and the Live Oak properties
be consolidated on said basis. such a
consolidation will be of great mutual ad-
vantage. and the terms are fair.
| DATED: December %, 1911.
w. H. ALDRIDGE,
HENRY KRUMB,
! II. Il. ROWLAND.
NJ F. MCCARTHY"
/ Inspiration Copper Company has $l0,-
0oo0po capital stock, all common, dlVid,
ed into 1,0o0od0 shares, par $40, all o.
which are issued and outstanding
Live Oak Development Company has
1857. 800 capital stock, all common, divid.
/
and outstanding. and no further issue Oh
| the shares of this Company is to be
made.
Many of the large stockholders in your
! Company have sgnified their intention
of accepting the offer to exchange theii
shares for stock of Inspiration CONSOLE
| dated Copper Company. Your Board OIL
! Directors, by resolution passed at q
meeting held on January ). 1872, recon-
! mended all stockholders to exchange
| their stock and have directed that this
notice be sent to all stockholders oil
record. "
Secretary.
| Exhibit 3.