The Cordova daily times., 1918-06-12
MOTHER LODE MINE TO BE
 CONTROLLED BY KENNECOTT

It is understood that under this clause Stephen Birch is not required to advance sums exceeding in the ag- gregate $1,OOO,OOO.
 (f) All such advances are to be se- cured either by bonds of the new com pany, secured by a mortgage, it's promissory notes or such other obli- gations as may be agreed upon, all of which are to be paid off or re- deemed before any dividends shall be paid upon the stock of the company.
 (g) The new company IS eU have the benefit of tho same smelting, re fining, freight and selling charges as from time to time may be enjoyed by the Kennecott Copper Corporation.
 (h) A separate set of books is to be kept by the new company, which shall be open for inspection during busi- ness hours of any business day by an auditor appointed by the president of your company.
 G) The new company shall have seven directors, and upon the organ ization of the board your company is to have three directors and Stephen Birch or his nominees four directors.
 (J The new company shall reim- purse your company for all moneys expended on it's property from May 1, 1918, until the conveyance and trans fer Of it's property to the new com pany; said money so expended, how ever, not to exceed the sum of $15,000 per month.
 This proposal was accepted by Ste phen Birch under date of May ', 1918: Mother Lode Copper Mines Com
 pany, 29 Broadway, New York city;
 "Gentlemen: Your letter of this date received. It correctly states our understanding and I accept the propo- sition therein made. I shall be glad to do all in my power looking to the speedy eonsummation of the transac- tion. Very truly yours,
 "(Signed) STEPHEN BIRCH"
 Your trustees on May 10, 1918, at a special meeting called for the purpose, held at it's branch office, 29 Broadway, nff fhic DrnnnGAI Among the reasons why such an ar rangement would be beneficial are the following:
 CD By driving a tunnel 1,400 feet long through the mountain to connect your workings with those of the Bo- nanza mine of the Kennecott Copper Corporation, it will be possible to start producing copper from milling grade ores within six months from the time an arrangement such as now proposed is ratified.
 CD By driving the 1,4OO-foot tunnel mentioned above it will not be neces- sary to spend any money on railroad construction.
 (3) The milling facilities of the Ken necott Copper Corporation can be made available immediately upon completion of the connecting tunnel. This milling capacity will be in- creased from time to time by the Kennecott Copper Corporation as the development of your mine warrants.
 (4) Through your connection with the Kennecott Copper Corporation you are assured of smelling, treat ment and selling charges which would be considerably better than you could obtain if continued as an independent corporation.
 (5) Stephen Birch has agreed to furnish cash to provide for necessary improvements and to furnish adequate working capital.
 Fully alive to the present opportu- nity, which provides for adequate milling facilities and working capital, both present and future, and believing that the Mother Lode can be placed among the dividend payers in about one-thrd of the time it would take if maintained as an independent cor poration, your trustees have approved of the arrangement here presented for your consideration and their urgent advice is that you vote for its ratifi- cation.
 Your trustees at a special meeting held in the city of New York on the 2Sth day of May, 1918, called spe- cial meeting of the stockholders to be held at the office of the company 1917 Alaska building, Seattle, King