The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1914-06-13

The following communi, alton has
been received by local shareholders
OF the Bristol Con. Mining company
Since the circular letter OF the re
ceiver 10 the stakeholder: and credit
ors OF The above company. under
date OF Dec, /, 1913, the conditions |
have been so complicated and results
50 p.UD. matical that he has consld /
cred it useless to send out turthel I
!tuers until the present time. The I
communications t.om stockholders
have been so numerous tnat he has
been unable to answer them by per
> .iai IeIter, and takes this method OF
{ ding them all the information h.
pJSs esses.
He has received no funds whatever
wi,n which 20 pay any expenses, aia
bursements or for services Of attor-
neys and is not sure of realizing on
any assets, so that it has been dill
.lcuit 10 decide what could be done,
without funds, for protection of stock
hiders in the premises.
Inc situation is extremely compll'
Gated and in order that the stockhCld
ers may understand the present status
il is necessary that the receiver give
you short outline of tho VIII n.dt-
ter.
The Bristol Consolidated Mines
Sme dug company, hereinafter called
The Bristol company" an Arizona
cCrpo ati1n, is controlled by the
Alaska Ebper Gold Mines company,
Maine corporation, and the company
in tu.n controls the pdy-Bristol Con-
solidated Mining company, hereinafter
called The Day-Bristol company,
also Maine corporation.
,450, $50 shares of the Bristol con.
pany were unuer the mortgage OF the
Alaska Elmer Cold Mines company,
and have been foreciosed and sCid
with the other asse $ Cf Ine aiashe
To. .er Gold Mines company to the So
called Chapman Reofsanlzatica con-
mittee OF that company. There al
1854, ,262 shares of the stock of thj
bristoi company in the hands OF var
lOt!S o. ANA
were in the treasury CT the Bristol
company l,365.3SS shares; 25O. 900
shares Of this amount are outstanding
as curIty for loan which wiil bG
hereinafter more fully described. This
makes UP the total of 1900, 900 shares
pany. !
rhe Bristol compny had no assets
a. date of the appointment of the
receiver. except $4,000 shares CT th'
DayB-l istol company stock and few
mining Gains in FiCche, Nevada of
The stock OF the Day Bristol com
pany is 1,000, 900 shares and besides
that owned by the Bristol company
as above stated there are 800. %,
Mining and Smelling company IS,
600 shares scattered and 350OOt
shares in the treasury.
The Iay-i ristol cJml any owns W r.
valuable property in PiCche, Nevada
which at the time OF the appointing
OF the receiver was III operation. HI
estimates of it's value are all the wa!
from S200,0 ,000 to S1,000,000.
Before the time of the appoint -, n
of The receiver 1895 shares of The
stock OF the Day Bristol company
owned by the Bri. tol company, haC
been hypothecated for loan which
with interest on March II, 1912
amounted to $l6,l60.
100000 of the treasury stock of tn
Bristol company had been hypothe
Gated before the appointment CT tn
receiver for loan which, wit inte.
est amounted on June II, 1913, /
$2,S57.
The money realized from thes
loans had been paid to the Alaska
Elmer Gold Mines company and tn
Chapman committee of said compan
took up said leans, and now hold sal
securities, and the terms of the d'
cree were such that said securitie
were to be sold in foreclosure unde
the Alaska -Ebner mortgage.
The receiver caused suit to b
brought to declare said sale of stoc
to be subject to the rights Of til
bAlSlol Cohipdhs oho SiiN OAN RAA'N'
committee. who bought in the pro-
erty, admitted in writing that til
title of said sto.ek is in the Bri
tel company. and that the share
will be returned to the said compan
upon payment of the amounts dl
kgatnst which they are held as s
curity The Chapman committee ha
a right to foreciose said items an
said stock upon giving twenty da.
notice.
The remaining shares OF the sto'
of the Day-Bristol company, name
900 shares, which would come in
the hands of the receiver were le
in the hands of the receivers CT q
Alaska Elmer Gold Mining compal
by mistake, and the receiver n
brought proceedings to obtain the p
0oociop ~ ouoh stock which pl