The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-10-07

At a regular meeting of the Di-
rectors o the Utah Mining
Association there was submitted to
the board, by the original owners of
IA claims of the Gold Grown Group,
proposition whereby they would
accept $4,000 shares of Second Pre-
ferred S t ock in lieu of the
s50,000.00 lease and bond, which
proposition was accepted by the said
Board OF Directors, and the original
owners were notified to execute quit
claim deeds to the Association, upon
receipt of which the said stock will
be issued proratively to them.
The above action was taken in or
der to protect the stockholders and
with a view of putting the associa
tion on a more sound basis.
% The stockholder is absolutely
protected.
CD There can no longer be any
fear that the property will revert
back to the original owners in case
the lease and bond are not complied
with.
CD There is no chance for the
stockholder to lose what he has paid
in if the property can be made to
pay.
(4)A soon as the property starts
paying, the stockholders will imme-
diately reap the benefit, instead of
having to pay off the lease and
hond
(5) The original owners now will
be interested in the association and
will invest money toward the devel-
oping of it's property.
Other matters of Importance were I
10000 shares of com m stock. /
which has caused so much dissen-
sion and unrest among the stockhol- I
ders, has been turned back to the 4
Association and cancelled.
Old Man Lake is right on the job
at the mine and is now working two
shifts in the face of the tunnel He
reports that he is now in the lime
that lies over the shale; this forma-
ton for the last 10 or IL feet is
composed of a hard lime carrying
brown carbonate ore, and some of
q IL
this lime formation, he expects to
break into the shale, and from there
on to the Mother Lode will be easy I
sailing. /
Now is the time to finish paying /
up those memberships or to buy
new tsock; now is the time that the 3
Association needs money o push :
this work and now is the time to :
take advantage of a wonderful op- q
reached, it will not do the Associa-
ton any good to receive money or +
the payment of memberships, as the
proper ty will be self sustaining y
notified that unless your payments
are renewed, you will not be permit c
ted to come in after the mother G
ode is reached and pay up, but 6
hat second preferred stock will be q
ssued to you for what you have
paid in on less than a membership !,
When you, or many Of you, sub 8
;cribed for this stock, there was
nothing n sight at the property. y
Today we have around 700 feet OF u
and have crosscut two II
arge veins of ore; one vein feet
vide, and one Ia feet wide These p'
-eins have been drifted on for quite is
distance and are known to contin- ol
Ie in the same width or even grea- III
sa high as $1O.SO in gold and bet.
er than 81 ounces in silver; this
makes it big milling proposition OF
nd if sufficient money could be
aised to put two shifts OH this ore ="
would not be long before we al
Tould have enough ore on the dump al
D justify a company to put i n d VI
ill; but it has been thought best. Ia
wing to a shortage of money, to ia
ush the work toward the mother
,de as fast as possible. d
WI
If you had confidence in the prop W;
rty at the time you subscribed for ba
.ock. surely that confidence should