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Show RECEIVER i?lE JISKED raRMMA COIL Stockholders Vote Two-cent Assessment on Minority-Stock. Minority-Stock. COUNSEL IS RETAINED Approximately 45,000 Outstanding Out-standing Shares Represented Repre-sented at Meeting. I'lcllrnin.-iry htps tmv;t ri l.-.il mulon to hrlnar ahouL ti n d.'1 mui l c 1 n ami rroh;ihly a l.ni;inI lor i r-.-ei en.i.if tli r'.nuna CnuhOlidaU-'l Min::i 4 jim any was InkfMi .vMi-nby Hftornonn n I. a nint-i(jtf nint-i(jtf of minority slO'-Uli'-f'lors of tlie Okl Krpina Minos coniiiany. TIip nu-ednfj was Ih-I'I at tJm otrirc of former Srt; SfMiator D. O. Cli'li'uut. A rormniiKf i-oin-pohf-fl of Sf-n.-itor Kidcout as r.-hainnan, If. V. Hmlth, mrjfrtury. hivI C. Miller wan fl-upolnlcl to tiio LI le inuUer In t:lun--?. Ti ohtain funds with which to main -oi;nsH um! carry il:c matter Into t tif; uiMiM.s, t lur hi ock holders In h ti eml-) eml-) m o voted ;l i i r. a:r.i.sinnL on t lie: rm r ioi i i y ouixtndliiK' old Knnna stork, iino ifiit of i Ik- a; M-.syniunt in tu lie paid iinn-diiilidy and Uk- other font upon !.-inand, !.-inand, M'lK'ii adilitional Minds are m-. u. .. Approximately :;i).uim of the outstand-int; outstand-int; hh;iri!N of Etld Kmnia stork were r.'p-n-H.-nli'il he tht: holders at the meeting, and rum fin in iriit Ions from hold era of h hoi it 1 ;.,0iHi slia res add it ional v. ere. pre-y-nUM, all of whh li wrre in favor of report re-port In:.' to the court to hrim; iilmnt an aeeoiniliriEf with the Kmrna ( 'onsolldated. History of JMine. At the meeting It was set forth that the Old Kiunia com pa ny, eupitalizod tor fiOQ.OOO Sharon, had loured the property lo a lea.f Incr ennipany several years apo and that the lease had expired October E117. After tho Kmrna Mtnrs eompany wnx orKanlzed there was another company com-pany ora n I zed fiH the flmmii t'opjicr company, whhdi control Irrl the n round Ini-mediatflv Ini-mediatflv nurrou tiding I hat held by the Kmmn M hies com pa ny. A few year later the Hnima Consolidated Consoli-dated rompany was organized hy tlcorn Irahaui Kire, with a capitalization or" r,.'nnVii''iii .share.. The Kiunia Consolidated Hc.ijuired eontrol of the Kinina Copper and t lie lease on t no Kmma M Ines property. Cndcr the roor.aiil.ation, It wis asserted, t:e a toi'k holders in i he Ehnuia i "opper were given stock In the ICrnina Consolidated Consoli-dated share for Khare. Later the Km ma Cnnsolhiated aenuired about 80 per cent of the old Km nia stock, it tv;ir reported, on the nasis of exchange of one share of Old Km ma stock for three shares in Emma Consolidated. Desire Accounting. Accord I ntf to the. stn toments 'made a t yesterday's meeting, the holders of the remaining 20 per cent of Old Ktnma stock were not given an opportunity to exchange ex-change their holdings on the basis of throe to one, or any other offer than 11 cents a aharo for stork which had cost them 75 cents lo $1 a share. It was asserted, furthcrmoro, that the Old 1'lmnia stockholders were to have received re-ceived 20 per cent net of the production of the property under the management of thft leasl iik enmpnny. ruder this arrangement ar-rangement the old. I'vinma stockholders expected a dividend last fall, hut accord-tug accord-tug to fit a ten ion (h made at. t he meeting no accounting for the operations of the leasing company has hern made as yet to the minority stockholders. The opinion was expressed at the meeting meet-ing that the funds ohta Ined from Die laslns? rompany were being used by the Kmrna Consolidated to develop the property, prop-erty, and a copy of the Industrial and Mining Age, issued by George Graham Hire, was presented, which said that all the oro now being" produced by the Km ma Consolidated company was coming com-ing from the Old Ktnma bonanza. The minority stockholders of the Old Km ma who at tended the meeting declared that tt was their desire to obtain an accounting account-ing of the money received for the lease of the property and procuro the same basis for exchange for stock In the Kmrna Consolidated as had been pranted to the majority stockholders. The committee plans to begin collect-in? collect-in? 1 cent of the assessment today and to immediately place the matter in the hands of attorneys. The firm of Smith & MeRroom was mentioned as the representative repre-sentative of the minority stockholders. |