White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-12-07
Ely Central Circular Letter.
Wilmington, DEL. Nov. 26. ~

Wilmington, DEL. Nov. 20, 1919.
To the Stockholders OF New Ely
Central Copper Company:
We enclose herewith. prineted on
white paper. the call for a special
meeting of the stockholders. to be
held for the purpose of authorizing
the officers of the corporation to
make a physical transfer of the prop
erty of the New Ely Central Copper
company to the Consolidated Copper
mines company; and also an au-
thorization to the Federal Trust COM
pany, printed on blue paper. which
you will please sign and enclose with
your certificates of stock and bonds;
and We also enclose a proxy, printed
on yellow paper, which you will
please date, sign and have your
signature witnessed, and enclose this
proxy in the stamped envelope here
with enclosed forthwith.
The board of directors, after hay-
ing received the authorization of
more than sixty per cent of the out
standing stock and bondholders, have
caused a contract to be executed be-
tween the two companies which pro-
vides in substance that each stock
holder will receive one share of the
Consolidated Coppermines company
for each twenty shares of the stock
OF New Ely Central Copper company.
and in case a New Ely Central Copper
company stakeholder will be entitled
at this ratio to only a part of a share
of the Consolidated Coppef,nines
company, a stock scrip will be issued
which will have the same proper
tional value that a full share would
have; that each bondholder will re
ceive one quarter of the face value
of his bonds in the W per centum
convertible bonds of the Consolidated
Coppermines company bearing inter
est from February /, 1915. and three
quarters of the face valu of his stock
in stock of the Consolidated Copper
mines company at par.
The smallest bond of the Consoli-
dated Co%ppermines company is 800.
While the holdings of a New Ely
Central Copper company bondholder
do not entitle him to receive bonds
10 the amount of 800, each bond
holder will receive a negotiable Ger
tificate of the Federal Trust company
setting forth the interest | hat each
ed in said Federal Trust company
against its certificates. These certifi-
Gates will represent the exact hold
ings of each New Ely Central bond
holder and will have the same rela-
tive value and are equivalent to
bopdds OF the Consolidated Copper
mines company.
Whenever a b%ondholder would be
entitled to receive a fractional share
of stock in exchange for this bond.
then stock script will be isued in the
same tanner as in the case of the
stock.
You will please bear in mind that
time is the essence OF the contract,
which provides that the stock and
bonds of the New Ely Central Copper
Company shall be deposited In the
Federal Trust company on or before
the goth day of December, 1913, so
that 1t is essential that you should,
upon receipt of this notice, sign the
authorization and the proxy and re-
turn the same in the enclosed stamp
ed and addressed envelope. to the
Federal Trust company, together
with your stock and bonds. The
Federal Trust company will acknow-
ledge the receipt of the same and Will
deliver your stock and bonds of the
Consolidated Coppermines company
as soon as possible.
II your stock stands in your name,
see that It is properly endorsed on the