The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1924-01-03
WEST. UNION CONDITION
As TOLD BY MANAGEMENT
OVERCOME HEAVY HANDICAPS
AND PLACED MINE IN GOOD
OPERATING CONDITION.

The executive committee of the
Western Union Mining company has
issued warning to stockholders against
acting upon the "gratuitous advice"
of some one not named, who sees
breakers ahead for Western Union
shareholders through the levying of
heavy and frequent assessments by
the sinister influence which his ac-
tive Imagination sees in control. The
stockholders are left to surmise who
this prophet of evil is. while the eX-
ecutive committee proceeds through a
lengthy letter to tell the stockholders
about the condition of the company
and mine when they took over the
management, what they have accom-
pished in restoring the property to
workable condition, development plans
carried out, important shoot Of high
grade ore made available for ship
ments. and in many particulars eX-
plain results accomplished and the
promising outlook for the mine ana
therefore for the stockholders who
stick regardless of evil forebodings of
those who predict otherwise. The
letter is signed by d. II. Anderson,
president of the Western Union;
Walter II. Hanson, vice president, and
Herman j. Rossi, secretary manager.
In spite of its unusual length, the
letter is presented below in full;
Why the Letter.
Since many of the stockholders
are in receipt of gratuitous advice
from parties who do not own a single
share of stock and whose sole interest
therein appears to be a commission
profit, to the effect that controlling
number of shares have been picked
up by parties antogonistic to the old
stockholders and who intend to con-
troll the next stockholders meeting
and levy heavy assessments and in
all ways seriously impair the value
of the mine and the shares, the pres
ent management DIVORCES from its
policy OF only addressing you on
urgent affairs affecting the company
and makes this, its first statement,
prematurely forced thereto in an en-
deavor to protect the loyal stockhold-
ers and to caution them from dis
posing of their long held holdings.
considering the very frequent
letters formely received by you, the
unmeasured promises of wonders ac-
complished and big ore strikes made,
all OF which dwindled into insight
ficance. the present management felt
that our stockholders wanted action
and not bulletins or letters. At least
such suggestion comes from many
sources to us since we have taken
charge.
Old Stockholders in Control.
"a very careful and open minded
check made of our stockholders re-
suits in satisfying us definitely that
over 100000 shares remain actually
in our original stockholders. The re-
malnder of our capitalization of 400,
900 shares are definitely recorded as
being in the names of stockholders
and their clerks, at least one third of
which latter number of shares being
extremely friendly and fully cooper
ating with the old stockholders. The
pfOpdSanud thelSAoAS "9SN upon N
stockholders is utterly false and mis-
leading, to say the least,
1.-THE par value of Western Union
shares is 1Oc. The Idaho laws, under
which we are organized and operat-
ing limits definitely any assessment
to 1c per share. Legal publication
for four weeks is required in the
/ Ievying of any assessment and fur
Their three weeks advertisement COM
PEELED on delinquent stockholders. 1t
is therefore not only illegal but i'm
possible to levy more than six assess
ments in any one year, if such was
desired to be done by interests an
I tagonistic to stockholders who, while