The Western news. [volume] (Libby, Mont.) 1933-current, 1939-04-06


10th Street with option to pur-
chase, and all tools, machinery.
equipment and furniture therein; a
number of prepaid insurance poll
cies, credits, inventories all
of the property, rights and credits
OF the vendor corporation except
patents No. l898774 and No l898830
relating to 'Lamisilite," and except
ing vendor corporations Silver
flake business and its right, title
and interest in and to mining claims
and equipment in and near Pony,
Montana, and certain equipment
purchased for the treatment of
"Silverflake" ore at Libby, Mon
tana, and at Chicago, Illinois. and
excepting quantity of such "Sil-
verflake" ore, and which sale is
subject to debts, duties, liabilities
and obligations of the vendor cor
poratlon, namely. current accounts
incurred within thirty 600 days pre-
ceding the date of transfer and an
unpaid balance due to Otto A. La
bus under contract between him
and the vendor corporation made
in 1898 and modified August 7, 1897,
the purchase price to be paid by
the vendee, The Zonolite Company.
to the vendor corporation, as nearly
as can now be determined is 3f8,584
shares of the common capital stock
of this vendee corporation.
Further material provisions of
such contract are:
That the name of The Zonolite
Company be changed to Universal
Zonolite Insulation CO.; that it es-
tablish principal office for the
transaction of business at Chicago.
Illinois, that it increase its capital
stock to 100000 shares of common
stock of One Dollar ($1.00) par
value, that it cause its debts in the
sum of $1l5, 100000 Gas nearly as
may now be determinedl to be paid,
the money to be secured therefor by
a sale of sufficient number of its
shares of capital stock at a price of
not less than One Dollar ($100)
share, or by borrowing, in which lat
ter event the loans must be liq-
Undated either through a sale of
stock as aforesaid or through de-
livery to the creditor or creditors of
stock in satisfaction of such loans,
at price of not less than One Dol
lar ($1.00) per share; that Fifty
Thousand Dollars (S50,000) shall be
provided as working capital by the
sale of stock of The Zonolite Com
pany at price of not less than One
Dollar (Sl.00) per share, and the
Universal Insulation Company will
furnish or cause to be furnished
S17,50000 of such sum and The
Zonolite Company will cause to be
] furnished S32.500.00 of such sum.
less credit of S6,500.00 for expanding
unit when paid, that the interest of
The Zonolite Company in contract
dealer, Mum & Steel, Inc, New
Jersey corporation, will be with
drawn and satisfied by certain
stockholders of The Zonolite Com
pany, the same being liability. that
the board of directors of The Zono-
lite Company will be changed to
eleven (lD in number, and the va
cancies presently existing or to exist
/ on the board of directors, four az
vacancies caused by enlargement of
the board and two (2) vacancies
caused by resignation, shall be filled
/ by appointment of the following,
to serve for the unexpired term and
until the election and acceptance
of their duly qualified successors.
Philip ID. Armour, Lester Armour,
A. T. Kearney, John Fl. Bishop, J.
NJ Camden, Charles T. Fisher
That the effective date of the con-
tract shall be the date or dates up
on which it is approved and adopt
ed by the stockholders of the two
companies, and that it shall be con-
summated within thirty 500 days
thereafter.
A copy of the above mentioned
agreement may be obtained by any
stakeholder at the office of the COM
pany in Libby, Montana, or copy
will be forwarded by mail to any
stakeholder upon request.
! The stock transfer book of the
corporation will be closed for a
period of thirty 500 days preceding
/ date of the special meeting of stock
holders.
/ The enclosed proxy is being So
licited by the management of the
corporation and at the present time
it is intended that each person
named in the proxy will vote at the
special meeting for the approval or
! adoption of each and every of the
matters submitted for action.
If you do not expect to be present
at this meeting and wish your. stock
to be voted, you are requested
promptly to sign and mail the en-
closed proxy in the enclosed
stamped envelope.
By Order of the Board of Di-
rectors.
M. F. GAY, Secretary.
Dated March 30, 1899, Libby,
Montana. apo at
NOTICE.
Pursuant to an order made by the