The Alaska daily empire., 1915-04-06

H N.H
 sFsiling in their ability to put up ..ooooo on March 3l che Ebner be. comes g the property of Che United ssatos ee, smeltng Company but com. ,nr ot time when the Aleska Gold fla making good in such large meas ,,ro and there is such an extraordinary ',a.,ond for participation in the iOO.- ooo s snsre offering of Che Alaska Ju. nean at SlO per share tho willing nees of the smelting company to give ,s s't ,ho Fbner for profit of S2O0.000 is surprising"
 The following is from the Boston News Bureau. of March l9;
 .rbe United States Smeltng, Re-. s,,,nc and Mining Company has re, onosted from the Alaska Ebner Gold Mines Company. the payment of np. ,wsr5s of S4oo00O which |, advanced. If has informed the latter that unless pavment is made by March Sl' 1t will foreclose lts lien by the sale Of col- lateral In an effort to meet this indebtedncss the bondholders com mittee of the Alaska Ebner Company has requested the deposlting holders to forward cash equal to 40 per cent of inc face value of Che bonds held. The committee states that Sl.525.iOO bonds out of total of Sl572,lOO has  been desposlted with it
 ~The committee in Juneau. 1913, contracted with the United States smelling. Refining & Mining eaxplor- ation Company to explore the Alaska Ebner property and secured from that companv sufficient funds Go gather the assets Of the Alaska Ebner to- gether The loans were secured by a prior lien on an assets which the committee eorralled.
 up to date there has been adyanc' ed by the United States Smelling. Company. s4OS.52l, in addition to which there are further claims not yet adjusted. amounting to S59972.
 "Thero had been expended up Co May. 1914. s2so.7OG the balance hav- ing been spent since that date. or the total. S16259l was necessary to pay off underlying liens and various court allowances for receivers.
 "It appears from information sent to bondholders that last December Nice-president Jennings of the Unit cd States Smelting Refining & Min. ing Exploration Company told his di- rectors that in order to organize the Ebner Company along lines proposed it would be necessary to find ore in sufficient quantities and value Go show values of S15,OO0,0OO. This amount has not been found in explorations up to the present date. Jennings while admitting that the possibilities of the ground not having been exhausted said that it had been sufficiently prov en in his opinion to warrant not go ing ahead with the reorganization plans The Smeiting company. there. fore. named February l5. as the day upon which 1t desired the return of its money with interest
 "An extension of time requested by the committee was refused by the United States Company The com mittee says. however that it has been intimated that the Smeltiug Company would consider favorably a proposi ton by the committee to pay Sl0O.O0l .ln cash on or before March 31. foi .n option Of go per cent. Of the-stocl of the property as cash equivalent to the amount Of the Shelter com pany's advances. good until July 20 Ns an alternative the Smelling com pany would consider the payment O S20O.O00 cash by March 31. accompan jed by an obligation to pal on July 10 the advances Co cover an option or the entire property Both plans en force the sale on March 8l. of the as sets now held bp the Smelling Com pany as security for It's advances.
 Briefly says the committee, tho ,irs, proposition means that the bondholders would pay the advances plus S1OO.0OO and own 49 per cent oI the property while with payment of S2OO.OOO the entire property would be owned by the bondholders after giving .ho Smeting Company $20O, 0O0 profit.
 In c.rri TING ACTION