White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-06-08

in the former. and 2-sths in the lat
ter company, will. By consolidation,
become valuable.
After due consideration was given
10 your ores actually blocked out
and indicated by churn drill holes
as shown By your assay maps and
reports. as well as TO the mineral
ground still remaining 10 be pros
pected. We recommend the following
bases of exchange.
For every 2ia shares OF outstanding
Giroux stock u. Al APO shares. one
share full paid stock of your new
company
For every 3Is shares OF outstandin
C~oppermines stock lSS1.l7S shares.
q share full paid stock Of your
aeW company.
For every 6A shares OF outstand-
ing Butte & Ely stock $50 900
shares lother than that now own.
ID By the Giroux company one
share full paid stock Of i new
company
For every % shares OF outs.and-
ing Chairman stock (S60 .s2l sharesl
q share full paid stock Of your new
company.
The figures and values used must
o be taken as indicating the actual
or intrinsic values Of the properties.
but are used merely as a relative
basis Of consolidation. and We be-
Eese such . consolidation viii be OF
decided mutual advantage and that
the terms are fair and Just.
SeW York Cts. y. Y. May -. 1913
T. F. GRAY.
4. j. SALE.
The GirOux company has an auth.
DRIED capital Of 5 ,50O, 900. divided
into 100000 shares OF s 8 each. Of
which 1.441, 40 shares are now out
standing.
The Coppermines company has an
authorized capital of 3 900 GOO. d.
fided into loo .000 shares II $
each. Of which 3sl.l7S shares are noA
outstanding.
The Butte company has an author
lied capital Of $500 900. divided into
soc 600 shares OF 81 each, and all
nos outstanding. O~ne-half Of said
capital stock is owned BY the Cir
ou1 company. and the purchase con
templated hereby covers only the
outstanding stock OF the Butte com
EN-@ Ap# 1#AtA - AAi 1ARAA AgAA
pany.
The Chairman company has an
authorized capital OF s.. 900. 600. d.
yided into I 900 900 shares of s. each
OF which 500 .S2l shares are now out
standing.
The Giroux company has outstand-
ing first mortgage six per cent con
Fertible bonds a~ggregating at par
value S292,0 600 and a floating indebt-
edEess OF approximately $500 ,00o. in
CURED during the year 1912. mainly
in mine development and oonstruc-
ton work and equipment at the
Morris Bunker Hill-Brooks mines
and in constructing and equipping a
spur line to handle the ores from
said mines. However. the Giroux
company has or controls cash. cop
per matte and other quick assets
equivalent in value practically to said
floating Indebtedness.
The Butte & Ely company has no
Indebtedness, bonded or otherwise,
and has in cash, quick assets and ac-
counts receivable approximately $40,
600.
The Coppermines company has no
outstanding bonds, but has a float
ing Indebtedness of approximately
SO, 900.
II is contemplated to provide for
the floating Indebtedness of said
companies by the application of pro-
eeeds derived from the operation of
the various companies properties and
of the cash. quick assets and working
capital which the Consolidated com.
pany will have, or by such other ar
rangement as the management of the
Consolidated company may consider
j advisable.
Your attention is directed to the