| Show MAY MORTGAGE MINE Plan to Borrow 1000000 On United Unit-ed States Property WANT TO 11AKE IT PAY SOME ARBIN VOltOF SELLING OUTRIGHT I Proposition AlsD to Restore It tc I 1 > Stock Exchange Privileges Money Needed to lfieet Payrolls and Other Pressing Obligations Will Be Forthcoming Monday 8 Special to The Herald Bodon Dec 30There Is a plan proposed pro-posed by brokers interC ted in the mine to mortgage the United States Mining compans property for 1000000 at 7 per cent the proceeds to be used to I equip and develop the property to a paying propodtlon Hm generally this plan Is endorsed Is uncertain About 500CCO shares have been aeposlted und I un-d r the committees calL As soon as a nljoritj Js in control the committee will be in a positiol1l to mortgage or sell I the property as shall be thought I wisest I It is advised by some people that the stockbe immediately restored to srock I exchange prIvileges and be allowed to find its proper valuation Wall street I has been laughing at state street brokers brok-ers for ostraclsing this stock because they the brokers held a majority In It and wonder is expressed whether thIS < would have happened had the pub lie Instead of the brokers held the stcclt It 1I11ght chance that an open market Would establish a better price than the curb Mr Arthur Walnvrlght nays he was bid 12 for 1500 shares and would not sell because he considered them worth more than that Someone Wants Stock It is apparent that someone unts the stock not to say the property There Is some evIdence of two or three bidders for the property A member of the pooling committee says A plan < ielsed for the Issuance of IUOOOoo In 7 per cent bonds Is perfectly perfect-ly feasible atd I would recommend Its adoption unless some responsible party comes forward In the meantime wIth I a satirfactory offer to purchase the mine Thl property Is today Intrin alcaliy worth 26 a share and with the expenditure of IOooOCO It can be made worth 40 There would be no trouble in my opinion In fioatlng these bonds I with a bonus perhaps In stock It Is understOOd r that the committee has arranged to advance the money needed on Mond3betweeI1 IOOCI i and 50OOoto meet payrolls and other pressIng b1fgatlons There will therefore there-fore be no Shutting down of opera = Odfino tlorn an has been apprehended in some 1 quarters I |
