Weekly journal-miner. [volume] (Prescott, Ariz.) 1908-1929, 1914-10-28
VERDE PLACES MORE
STOCK ON MARKET
eFrom Fridays Daily.)


News of the annual meeting of the
stockholders of the United Verde
Extension Mining Company, which
was held in New York City October
lst, has just reached Prescott, to-
gethcr With many details of the fu-
ture plans and present conditions OF
the company. The new officers nam
ed at the meeting are:
President, J. S. Douglas, of Doug
las; vice-President, George E. Ten
ner, of Pittsburg. Pa; vice-Presi
dent, Louis F. Whicher, of New
York City; directors. Charles P.
Sands. of New York City; Paul Ar
mitage, Of New York City; Andrew
J. Pickrell, of Prescott, Arizona;
Archibald Douglas, of New York
City; Harold Price, of Philadelphia.
AT the meeting referred to there
was general discussion of the affairs
of the company, and the following
comprehensive statement was made
by Vive-President Whicher. which
will be of interest in this section of
country, in that it comes from an
official source and is definite and
concise:
Past Year Important.
"Ihe past year has proven OF great
Importance to the stockholders OF
our company. In April the new
three compartment shaft known as
the Edith Shaft, was completed to
the so-called twelve hundred foot
level, the level being four hundred
feet below the eight hundred foot
level, which was developed from
the old shaft Little Daisy.)
Nearly six thousand feet of un-
derground development work has
been done since the management OF
the mine was undertaken by Mr.. |
James S. Douglas about two years |
ago.
Although many encouraging indi- |
cations were encountered from time
to time during the progress of this
work. it was not until very recently.
during the past few weeks that these
indications have taken definite and
certain shape in the opening up OF
what are likely to prove large and
important ore bodies.
GAS to September 30th the COM
Dany had no debts, excepting the
payroll and current debts, for which
approximately sufficient funds are
On hand. 1t will be necessary there
ore to at once arrange new hnanc-
ng. and the stockholders will be F.;
July advised of such plans as will
De adopted and recommended by /
he board of directors.
The future of your company ap- !
years to be assured and promises
o be highly successful
More Stock to be Sold.
General Manager J. s. Douglas
.lso made a report at the meeting.
commenting the re-fnancing of the
ompany for the purpose of sinking
he Edith shaft to the fourteen hun {
red foot level. as a result of which /.
resolution was passed authorizing
he sale of $4,000 additional shares c
f stock at one dollar per share, the :
anne to be offered to the present
tockholders to the amount OF five
er cent of their present holdings. !
The stockholders were advised that u
lessrs. Douglas and Tenner would },
nderwrite this entire issue at one l
ollar per share net to the company. d
n condition that they will acquire y
Il rights of subscription not availed |;
y the stockholders, it being I'M u
erstood that the stockholders are II
ntitled 10 subscribe to the offering D
| proportion to their respective u
oldings as of record last Novem- p
err Il
Considerable of the stock of this o
ompany is held by the residents of Vi
rescott and Jerome.