The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-06-20

The following communication has
been received by local stockholders
If the Bristol Con. Mining company
Of Phoebe from the receiver:
Since the circular letter of the re-
;eiver to the stockholders and credit
ors of the above company, under
late of Dec. l., 1913, the conditions
have been so complicated and results
80 problematical that he has consid-
cred it useless to send out further
letters until the present time. The
communications from stockholders
have been so numerous that he has
been unable to answer them by per-
sonal letter, and takes this method of
giving them all the information he
possesses.
He has received no funds whatever
with which to pay any expenses, dis
bursements or for services of attor-
neys and is not sure of realizing OF
any assets, so that it has been diff
ficult to decide what could be done,
without funds, for protection of
stockholders in the premises.
The situation is extremely compli-
Gated and in order that the stock
holders may understand the present
status it is necessary that the re-
ceiver give you a short outline of the
whole matter.
The Bristol Consolidated Mines &
Smelling company, hereinafter called
THE Bristol company" an Arizona
Alaska-Ebner Gold Mines company, a
Maine corporation, and the company
in turn controls the D~ay-Bristol Con-
solidated Mining company, herein
after called 1.-THE Day-Bristol COM
pany," also a Maine corporation.
1,45O,35O shares of the Bristol
company were under the mortgage of
the Alaska-Ebner Gold Mines COM
pany, and have been foreclosed and
sold with the other assets Of the
Alaska-Ebner Gold Mines company to
the so-called Chapman Reorganiza-
ton committee of that company.
There are 1,1S4,262 shares of the
stock of the Bristol company in the
hands of various minority stockhold-
ers. There were in the treasury of
shares; 100000 shares of this
amount are outstanding as security
for a loan which will be hereinafter
more fully described. This makes up
the total of 100000 shares of the
capital stock of the Bristol company.
The Bristol company had no assets
at date of the appointment of the re-
ceiver, except $4,000 shares of the
Day-Bristol company stock and a few
mining claims in Phoebe, Nevada.
The stock of the Day-Bristol COM
pany is 1,OO0,0 900 shares and besides
that owned by the Bristol company,
as above stated, there are 100000
Mining and Smelling company 49,
600 shares scattered and $4,000
shares in the treasury.
The Day-Bristol company owns
very valuable property in Phoebe, Ne
vada, which at the time of the ap-
pointment of the receiver was in OPP
Grafton. The estimates of it's value are
all the way from 100000 to ST.
900 900.
Before the time of the appointment
of the receiver 1926 shares of the
stock of the Day-Bristol company,
owned by the Bristol company, had
been hypothecated for a loan which,
with interest on March II, 1913,
amounted to $16,16O.
100000 of the treasury stock of
the Bristol company had been
hypothecated before the appointment
of the receiver for a loan which, with
interest amounted on June II, 1913,
to $2,S57.
The money realized from these
loans had been paid to the Alaska
Elmer Gold Mines company and the
Chapman committee of said company
took up said loans, and now hold
said securities, and the terms of the
decree were such that said securities
were to be sold in foreclosure under
the Alaska-Ebner mortgage.
The receiver caused a suit to be
brought to declare said sale of stock
to be subject to the rights of the
Bristol company and the Chapman
committee, who bought in the prop
erty, admitted in writing that the
title of said stock is in the Bristol
company, and that the shares will
be returned to the said company
upon payment of the amounts due
against which they are held as Sc
curity. The Chapman committee have
a right to foreclose said items and
said stock upon giving twenty days
notice.
The remaining shares of the stock
of the Day-Bristol company, namely
$4,000 shares, which would come
into the hands of the receiver, we're
left in the hands of the receivers of
A. IcoJxo Eh-n, Co1J NHininn onn-