The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-04-24
AM|CABLE AGREEMENT EFFECTED
IN BO0TH.JUMBO EX. LITIGATION

A call for a special meeting of
stockholders of the Jumbo Exten-
sion Mining company. to be held at
Phoenix, Ariz., May 90. has been
sent out by Vice President Charles
s. Sprague and Secretary Ben Gill
from the local office of the company.
The purpose of the meeting is to
amend the articles of Incorporation
of the company to provide for in
creasing the capital stock from l.
10000 shares to l,750,0O0 shares
and TO transact any other business
coming before the meeting. 1t is an
nouaced in the call that the books
of the company will not be closed,
but that only stockholders of record
May 3, 1915, will be entitled to vote
at the meeting. Proxies are invited
in the name of Charles S. Sprague,
for use at the meeting.
A circular letter is being sent to
stockholders by Vice President
Sprague. accompanying the call for
the meeting, in which are set forth
the terms of the tentative agreement
reached between the Jumbo Exten-
sion and Booth companies, in settle
ment of the apex litigation institut
ed by the latter, which it is sought
to have ratified at the forthcoming
meeting. Mr.. Sprague's letter is as
follows:
A special meeting of stockholders
is called to pass upon tentative
agreement reached between the di
rectorG of your company and those
of The Reorganized Booth Mining
company, with the view to terminal
ing certain litigation that has aris-
EN- between the said companies. On
Feb. "a, 1915, the ReOrganiZed Booth
Mining company, in an ex-parte pro-
ceeding, filed suit in the United
States district court at Carson City,
New, against the Jumbo Extension
mining company, claiming an owner
ship to the ore body in the Velvet
and Poloverda claims of your COM
pany by virtue of extra-lateral rights
to ore within the end planes extend
ed of the Booth lode mining claim.
Damages to the amount of $780,
900 we're claimed from the Jumbo
Extension Mining company for ore
extracted, and an order was asked
restraining the company from ex-
tracing more ore from said claims,
also from disbursing any of the funds
in it's treasury, and more particularly
from issuing dividend checks for the
dividend that had been declared pay
able March 1, 1915. The court set
March 5, 1915, as the date for the
Jumbo Extension Mining company to
appear and enter any motions that it
might desire.
The temporary restraining order
asked for was granted by the court
and the papers served upon the Of
ficers of your company, whereupon
Acting upon these recommended
tions negotiations we're entered upon
by the vice president and general
manager of your company with the
operations at the mine were sus-
rended.
On March 2, 1915, a stipulation
was entered into Dy the officers OF
the Reorganized Booth Mining COM
pany and the Jumbo Extension Min
ing company whereby 100000 of
treasury funds of the latter COM
pany was released 10 pay bills con-
tracted and meet the current pay
roll; $4,000 per month was secured
for the continued operation of the
mine, and SIS. 900 to meet the pre-
liminary expenses of experts. attor-
neys, etc, in preparing to defend
the suit. The bond required OF